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September 6, 2008
Current FHA Rules, First Time Buyer Tax Credit & Promos Favor Buying Now At Waterstone In Vallejo

The opportunities for first time buyers as well as with FHA-insured loans available now and throughout the balance of '08 make this an excellent time to buy. Additionally, an exciting buyer’s choice promotion -- either a perfect kitchen filled with desirable upgrades or a great fixed rate -- has just been announced at Braddock & Logan’s single-family home community Sea Glass at Waterstone.  With starting prices from the $500,000’s, a tax credit for first time buyers and more favorable FHA loan limits and down payment percentages, now is the time to buy at Waterstone.

Here is a brief summary of the government-sponsored changes that buyers should be aware of. Perhaps the most significant change is that the maximum loan amount limit for an FHA-insured loan was raised in March to $729,950. This increase was created to provide more homebuyers the ability to purchase a home. This higher amount significantly helps to bridge the gap between loan amount and housing price for the buyer. However, after December 31, 2008, the new maximum limit for FHA loans will return to a cap of $625,500. 

Another good reason for not postponing a home buying decision is that the down payment required for an FHA loan is now at a more favorable rate.  Currently, the formula requires a percentage of 2.25% - 2.85%; as of January 1, 2009, this percentage will increase to 3.5% of the sales price. Using a sales price of $550,000 as an example, closing a home before Jan 1st could save the buyer an additional $6,875 of down payment dollars, freeing up these funds for other expenses.

Finally, first time buyers should also check out the federal tax credit for up to $7,500 available for homes purchased now. The web site has complete details on the requirements for qualification and how the tax credit functions.

Set high in the rolling hills, graced with blue skies above and the Carquinez Straits off in the distance, Sea Glass at Waterstone offers homebuyers a unique opportunity. Four home styles wrapped in traditional Spanish Colonial, Italianate and Cottage inspired architecture are open for touring. The plans have wide appeal for buyers looking for a home built "green" in sizes from 2,000+ square feet of contemporary designs with wonderful kitchens, Great Rooms and optional rooms to created the perfect home for your lifestyle. Waterstone homes are built to comply with Build It Green and Energy Star regulations.  What that means to the buyer is that these homes reduce energy bills and are environmentally friendly.  Recycled materials for insulation and siding, energy star appliances, fresh air vent systems, dual pane windows and high efficiency heating and cooling systems are just a few of the ways Braddock & Logan works to save buyers money and the environment.

The sales center is now open from 10-6 Tuesday – Sunday and 1-6 on Monday. To reach the community from Hwy 680 toward Sacramento: after crossing the Benicia Bridge, take the exit on the left onto Hwy 780 West toward Benicia/Vallejo.  Exit onto Columbus Parkway.  Turn right at Regents Park Drive.  Turn right at Waterstone Pkwy and right again at Abbey Drive to models. From I 80N: exit Columbus Pkwy. Follow the Pkwy to Regents Park Drive and turn left. Turn right on Waterstone Pkwy and right again at Abbey Drive to models. For more information interested buyers should call (707) 648-2010 or email

Braddock & Logan understands the challenges buyers face in today’s market.  For a combination of market expertise, personal consultation and a package of buyer incentives, buyers are recommended to visit Sea Glass at Waterstone today.

Celebrating 61 years of building homes in the greater Bay Area, Braddock and Logan encourages homebuyers to visit their other current communities such as Wind Rose in San Jose, Paulson Lane in Walnut Creek, Cross Creek in Hayward, Tassajara Estates in Danville, Cantara & Salerno at Positano in Dublin and Orchard View in the Central Valley town of Ripon. New communities will be opening at Monta Vista Place in San Jose and Millbrae Estates in Millbrae.  For more information on current or planned communities call (925) 274-2555 or log onto

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Braddock & Logan is a Bay Area homebuilder with new homes for sale throughout the California Bay Area including:
New Homes in Walnut Creek, CA
Braddock & Logan Services, Inc. BRE No. 01255593