Virginia Mortgage News and Views

Sunset on the the Tax Credit

As all of us in the the Richmond, Va. area have thoughts of spring and longer days with plenty of sunshine, their is one sunset that is quickly approaching.

The federal tax credit for first time homebuyers and also move up buyers is coming to an end. The official cut-off for totally ratified contracts is April 31, 2010 with your closing taking place by June 30, 2010. To date, it has been surprisingly lackluster as to the amount of activity in the Richmond market. Certainly, the last part of January and almost the entire month of February being snow bound has had an impact on all of us in Virginia.

With the weather being somewhat bleak, a trip to Florida was just what the doctor ordered. I flew down to the Keys and spent 4 days in and around Key West. What a fine time! It had been over 20 years since my last visit, and how things had changed...but, also remained the same. The most shocking to me was the presence of the cruise ships being in port in Key West! The number of tourists was incredible! They were all there with seemingly the same intent as me.... relaxation and a possible recharging of the batteries. After finding what I believed to be a local place, the Schooner Wharf, the relaxation concept kicked in and I got into the little latitudes attitude!

Village Bank Mortgage and Village Bank are still bringing in great results for me and all of my customers. In April, we will begin the Federal Home Loan Bank Grant program. This program offers up to a $ 10,000 dollar matching grant for first time home buyers. WOW! Needless to say, what monies are allocated to us are absorbed quickly by folks who meet all the applicable eligibility characteristics of this great program. In order to see if you meet the requirements, it would be wise to contact me as soon as possible. The grant money goes fast!

Lastly, my branch is up and running. You can find me in Brandermill out in Midlothian! The easiest way to contact me is by dialing 804.897.1000!

Until next time, be safe and as always, I am here to be of service to you!