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housing market: A Housing Analyst's Top 10 Forecasting Tips - 11/29/10 02:43 PM
Keeping track of Canada's volatile housing market hasn't been easy during the last several years. After almost a decade of extremely strong growth, the market took a dive during the recession. In 2009 it roared back and made up everything it had lost, catching most observers by surprise. Then 2010 was a tale of two markets – busy and active during the first half, then dropping into a stable, calmer state in the second half of the year.
Adding to the confusion is that everyone in the housing industry issues monthly reports and forecasts – the local, provincial and … (0 comments)
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housing market: Higher Conforming Loan Limits for Another Year - 11/12/10 02:05 PM
In what's at least a year-long reprieve from some higher housing costs, President Obama recently signed legislation that comes with a provision to extend the current high-cost-area conforming loan limit through 2011.
The provision means homebuyers and homeowners in expensive housing markets will continue to get a break on interest rates when they buy or refinance.
Conforming loans come with cheaper rates than non-conforming or so called "jumbo" mortgages, because they are backed by the government.
On October 26, Erate.com reported the average rate for 30-year, non-conformingjumbo loans came in at an average 5.14 percent. Meanwhile, conforming loan rates averaged 4.45 … (0 comments)
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housing market: Real Estate Outlook: Freddie Mac's Third Quarter Loss - 11/09/10 01:12 PM
The latest jobs report has come in with more new filings for unemployment than analysts expected, up 20,000. This comes after two consecutive weeks of falling applications.
Other trouble is brewing in the market as well. Freddie Mac has more trouble on its hands, reporting that weakness in housing has led to a third quarter loss. Freddie is now requesting $100 million from the Treasury to maintain a positive net worth.
What were the culprits of this down quarter? "As we near the end of 2010, the housing market remains fragile and has recently come under renewed pressure from slowing … (1 comments)
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housing market: Home Buyer Tax Credit Extended, Expanded - 11/08/10 02:51 PM
The extension of the first-time home buyer tax credit will help continue to clear out inventory, but expanding the credit to include more buyers may not be as helpful in high-cost housing areas.
President Barack Obama recently signed legislation that extends the deadline on the first-time home buyer tax credit and adds a smaller tax credit for move-up and other home buyers.
The extension and expansion gives home buyers a tax incentive to buy a home until at least April 30, 2010 -- April 30, 2011 for qualifying military personnel. The previous deadline was just weeks away, November 30, 2009.
… (1 comments)
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housing market: Real Estate Outlook: Freeze Over In Many States - 11/08/10 02:40 PM
Part of the freeze is over for 23 states. Bank of America has announced that foreclosures are resuming in over two dozen states. The bank says in its review, it has not found a single occasion where a foreclosure proceeded in error.
"We voluntarily paused our process in the 23 judicial states, not because there was evidence of problems -- there was not -- but because we wanted to ensure our customers they are being treated fairly," said Dan Frahm, a bank spokesman.
Guy Cecala of Inside Mortgage Finance, an industry publication, reports that "this draws a line in the sand … (1 comments)
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housing market: Homebuyers Search Out Smaller Homes - 11/02/10 02:44 PM
First-time buyers are making new waves in the housing market as they opt for smaller and less expensive homes.
With an economy slowly making it's way out of a recession, this comes as no surprise to many. Buyers are redefining their spending across all segments of the economy. Everyone from executives to busy families are changing the way they spend. Instead of nights out, they are cooking family meals. Instead of long vacations, families are opting for local destinations. And instead of large McMansions, buyers are choosing smaller, more economical houses.
In the housing market right now, it's … (2 comments)
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housing market: It's a Good Time for a Home Inspection - 10/19/10 11:29 AM
In today's tired housing market, a home inspection can wake up buyers to what "as is" really is and give them a negotiating edge that could lead to cash or repair concessions.
For sellers, a home inspection serves as an anti-haggling tool and keeps the dickering down to a roar.
An inspection is also for new homes, given new home defects aren't just incidental.
It's also a good tool to use to assess a home's integrity after a natural disaster, including flooding, an earthquake, a wind or rain storm.
Finally, a home inspection by home owners who aren't listing their home … (1 comments)
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housing market: Avoiding Mortgage Scams - 10/05/10 11:56 AM
It's goes against accepted ethics, but there are those who prey upon the weak and desperate in today's housing market. If you find yourself upside down on your loan, facing default and foreclosure, then beware. There may be those lurking nearby, waiting for a chance to take advantage of your vulnerable situation. They could make away with more than just your money; they could walk away with your home.
There are numerous tell-tale signs that you could be dealing with a swindler.
If the company, or person, in question asks for an upfront fee, it's time to turn on … (0 comments)
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housing market: How to Recognize a Sellers Market - 09/29/10 12:23 PM
As a homeowner, and a prospective seller, you may be wondering if now is a good time to put your home on the market. But how can you tell if the market is in your favor at this time? Will you lose money or make money? Is it a "sellers market"?
These are all very important questions. And the answer is in the market statistics.
As a seller, one of the first things you must evaluate is the desirability of your location. Market conditions are extremely localized statistics. While the national economy and housing market tie every area of … (1 comments)
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housing market: Social Benefits of Housing - 09/15/10 11:03 AM
Recent research from the National Association of Realtors (NAR) outlines the importance of homeownership's relationship with the economy, but of the social benefits it provides.
NAR reports, "The economic benefits of the housing market and homeownership are immense and well documented. The housing sector directly accounted for approximately 14 percent of total economic activity in 2009."
What sorts of social benefits are provided through homeownership?
According to the study entitled, "Effects of Homeownership on Children: The Role of Neighborhood Characteristics and Family Income", teens from households of homeownership have a higher rate of staying in school than … (0 comments)
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Miro Fitkova
Boston,
MA
More about me…
Fitkova Realty Group
Address: 1318 Beacon St., Suite 16, Brookline, MA, 02446
Office Phone: (617) 232-3220 x 101
Cell Phone: (617) 921-9952
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