Big Rebound in Existing-Home Sales Shows First-Time Buyer Momentum - 10/31/09 11:38 AM
Big Rebound in Existing-Home Sales Shows First-Time Buyer Momentum  

RISMEDIA, October 26, 2009—Existing-home sales bounced back strongly in September with first-time buyers driving much of the activity, marking five gains in the past six months, according to the National Association of Realtors®. Existing-home sales–including single-family, townhomes, condominiums and co-ops–jumped 9.4% to a seasonally adjusted annual rate of 5.57 million units in September from a level of 5.10 million in August, and are 9.2% higher than the 5.10 million-unit pace in September 2008. Sales activity is at the highest level in over two years, since it hit 5.73 million in July 2007. 
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Breaking News: Senate Plans to Extend and Expand $8000 Home Buyer Tax Credit - 10/30/09 10:33 AM
Breaking News: Senate Plans to Extend and Expand $8000 Home Buyer Tax Credit
 
RISMEDIA, By Alan J. Heavens, Corey Boles, John D. McKinnon ,October 30, 2009—(MCT/The Wall Street Journal)-The Senate has reached a compromise on extending and expanding the $8,000 tax credit for first-time home buyers, a boost the housing industry believes will help it pull out of its two-year-old downturn. 
While its passage remains uncertain, the agreement would extend the existing credit for first-time homebuyers, worth up to $8,000, while offering a new credit of up to $6,500 for some existing homeowners, Senate aides said. The reduced credit would … (1 comments)

New Listing Mission Hills Banker Hills Views Of Balboa Park in San Diego - 10/28/09 09:22 AM
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Inflated Egos in a Deflated Market-Millionaire Listing Agent Bravo Show - 10/22/09 11:28 AM
Inflated Egos in a Deflated Market Stephanie Diani for The New York Times Realtor Josh Flagg poses in a house he showed to potential buyers in the Bel Air neighborhood of Los AngelePublished: August 6, 2008  
 
THE first season of “Million Dollar Listing,” a reality series on Bravo that follows real estate agents in Hollywood and Malibu, Calif., was broadcast two years ago, and already feels like material from a time capsule. Spending much of its time on lingering shots of canyon villas and beachfront condos, the show captured a giddy period in which a cash-strapped seller could list … (4 comments)

5 Things to do with your small business to survive the recession - 10/22/09 09:55 AM
Great Post and very relevant in today's economy. I saw this and thought this would be a great place to re-post 5 Things to do with your small business to survive the recession January 12, 2009 :: Steve FisherI know, I know. My post was very optimistic and the title of this post might sound like everyone should go into survival mode. The recession started a year ago and it looks to go one for at least the next 2-3 quarters.
Like I have said previously, now IS a good time to do great things for the future.
I have read … (1 comments)

Fairbanks Ranch Community 92067 Thomas Kincade style home - 10/21/09 10:50 PM
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Flu Shot-Two Flu Vaccines, Twice the Number of Questions - 10/21/09 09:21 AM
Two Flu Vaccines, Twice the Number of Questions  
RISMEDIA, October 21, 2009—By Kristen Gerencher(MCT)—The annual ritual of fending off the flu is more complicated than usual this fall as Americans weigh the opportunity to receive two vaccines to protect against different types of influenza. 
The vaccine to fight seasonal flu is already widely available to people of all ages and health conditions, although some areas have reported supply delays or shortages. But a new vaccine to protect against the H1N1 virus, commonly known as swine flu, is just starting to make its way to schools, public health departments and doctors’ offices. … (0 comments)

Google Posts Higher Profit; CEO Says Worst of Recession Is Over - 10/20/09 09:55 PM
Google Posts Higher Profit; CEO Says Worst of Recession Is Over
 
RISMEDIA, October 20, 2009—By John Letzing(MCT)—Google Inc. reported third-quarter gains in profit and sales that topped Wall Street estimates on Thursday, fulfilling expectations that the Internet giant would start benefiting from increased spending on online advertising. 
Google said net income for the quarter that ended in September 2009 rose to $1.64 billion, or $5.13 a share, from $1.29 billion, or $4.06 a share, in the same period last year. Net revenue for the period ended in September rose nearly 1% to $4.38 billion. Excluding special items, the company said … (2 comments)

Appraisers Not Responsible for Low Home Appraisals - 10/20/09 09:47 AM
Appraisers Not Responsible for Low Appraisals  

 
RISMEDIA, October 20, 2009—Responding to recent testimony before the House Small Business Committee, the Appraisal Institute, one of the nation’s largest organizations of real estate appraisers, reminded the Committee’s leaders that appraisers are not responsible for so-called low appraisals. 
The Appraisal Institute joined the American Society of Appraisers, the American Society of Farm Managers and Rural Appraisers, and the National Association of Independent Fee Appraisers in a letter reacting to recent testimony by National Association of Home Builders President Joe Robson. The four appraiser organizations, representing more than 35,000 members, urged Committee Chair … (1 comments)

Industry’s Most Powerful Associations Send Letter to Administration Advocating for Extension of Homebuyer Tax Credit - 10/20/09 09:41 AM
Industry’s Most Powerful Associations Send Letter to Administration Advocating for Extension of Homebuyer Tax Credit

 
RISMEDIA, October 20, 2009—The Mortgage Bankers Association (MBA) along with the National Association of Realtors (NAR) and the National Association of Homebuilders (NAHB) sent a letter to senior Obama Administration officials yesterday requesting their support for a 12-month extension of the first-time homebuyer tax credit. 
The letter, addressed to Treasury Secretary Geithner, HUD Secretary Donovan and National Economic Council Chair Summers, outlines why the three organizations believe that the tax credit has had a stimulative effect on not only the housing market, but on … (1 comments)

1.4 Million Families Have Taken Advantage of First-Time Home Buyer Tax Credit, More Claims Expected - 10/18/09 08:23 PM
1.4 Million Families Have Taken Advantage of First-Time Home Buyer Tax Credit, More Claims Expected
 
RISMEDIA, October 8, 2009—With the First-Time Home Buyer Tax Credit deadline quickly approaching, the Internal Revenue Service recently reminded potential home buyers they must complete their first-time home purchases before Dec. 1, 2009 to qualify for the special first-time home buyer credit. The American Recovery and Reinvestment Act extended the tax credit, which has provided a tax benefit to more than 1.4 million taxpayers so far. 
The credit of up to $8,000 is generally available to home buyers with qualifying income levels who have … (1 comments)

Fix-Up Home Strategy Works in Long Run: If You Have Time on Your Side, Improve and Enjoy Your Home - 10/18/09 08:05 PM
A Fix-Up Strategy Works in Long Run: If You Have Time on Your Side, Improve and Enjoy Your Home

<!-- Single post title end --> RISMEDIA, October 17, 2009—(MCT)—You’re thinking of selling—but not just yet. Let’s say you’ve got a five-year plan to prepare an older, lived-in house for sale. 
Maybe you’re faced with tattered carpets, battered appliances and dingy paint. Or maybe we’re talking about truly scary problems, such as asbestos, underground oil tanks or leaking roofs. 
What should you take care of first? What can wait? What can be ignored altogether? And how do you keep costs under … (0 comments)

Economic Growth Expected to Slow in First Half of 2010 before Picking up in Second Half - 10/16/09 09:42 AM
Economic Growth Expected to Slow in First Half of 2010 before Picking up in Second Half
 
RISMEDIA, October 16, 2009—MBA expects economic growth to continue through the rest of 2009 before slowing in the first half of 2010. Unemployment is expected to climb to 10.2% by the middle of 2010 before beginning to moderate as economic growth resumes sustained growth in the second half of the year. 

Mortgage originations should reach $1.5 trillion in 2010. Modest increases in home sales should drive purchase originations but refinance originations are expected to decline as mortgage rates rise. 
“The recession is behind … (1 comments)

$8,000 Tax Credit’s for First Time Home Buyers Hoops Frustrate House Hunters - 10/16/09 09:37 AM
$8,000 Tax Credit’s Hoops Frustrate House Hunters
RISMEDIA, October 16, 2009—Mary Shanklin (MCT)—                   This summer, Brian Smith decided he should buy a house. Prices were at record lows; “for sale” signs were common, and, most important, he could get a tax credit of as much as $8,000 for first-time buyers if he bought before December. But four months later, after looking at more than 40 houses and condominiums, Smith quit his search in frustration. 

“Honestly, my heart was so broken,” said Smith, an associate at a financial-investment company. “I hate that I am going to miss out on the tax credit. … (2 comments)

Basics of the Housing Market (Buyer’s vs. Seller’s Markets) - 10/15/09 08:19 PM
•October 2, 2009 
Basics of the Housing Market If you have been looking to purchase or sell real estate, you may have heard the terms sellers’ market and buyers’ market.  You may also have wondered what these terms mean and how each market impacts you as a buyer or seller.  Here is a brief explanation.
What are the different markets?  

When there are more buyers than homes for sale, a sellers’ market is in effect.   As you might expect, the conditions in this market favor sellers over buyers.   During a sellers’ market, you will generally find that home prices … (1 comments)

California Association of Realtors Releases 2010 Housing Market Forecast - 10/15/09 08:13 PM
Looking Ahead – California Association of Realtors Releases 2010 Housing Market Forecast
 
RISMEDIA, October 15, 2009—“California’s housing market continued its strong sales rebound this year, resulting from the continued pace of distressed properties coming to market,” said California Association of Realtors (C.A.R.) President James Liptak. “This follows two years of double-digit sales declines in 2006 and 2007. Looking ahead, we expect sales to moderate to a more sustainable pace.” 
“After experiencing its sharpest decline in history, we expect the median price to rise modestly next year,” Liptak added. “2010 will mark the beginning of the ‘new normal’ for California’s housing … (0 comments)

Home Real Estate Foreclosure Activity Increases 5% in Third Quarter 2009 - 10/15/09 08:09 PM
Foreclosure Activity Increases 5% in Third Quarter  
RISMEDIA, October 15, 2009—RealtyTrac, one of the leading online marketplaces for foreclosure properties, released its U.S. Foreclosure Market Report for Q3 2009, which shows that foreclosure filings—default notices, scheduled auctions and bank repossessions—were reported on 937,840 properties in the third quarter, a 5% increase from the previous quarter and an increase of nearly 23% from Q3 2008. One in every 136 U.S. housing units received a foreclosure filing during the quarter—the highest quarterly foreclosure rate since RealtyTrac began issuing its report in the first quarter of 2005. 
Foreclosure filings were reported on 343,638 properties … (0 comments)

New Bankers Hill/ Mission Hills Condo Listing in 92103 - 10/14/09 03:38 PM
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Percentage of Price-Reduced Homes Available for Sale Down from Last Year, but Still Substantial - 10/14/09 03:17 PM
Percentage of Price-Reduced Homes Available for Sale Down from Last Year, but Still Substantial
 
RISMEDIA, October 14, 2009—While many sellers continue to cut their asking prices, fewer are doing so, according to recent data compiled by ZipRealty, national real estate brokerage, which may lead to an upward trend in home prices. According to MLS data, more than 44% of home listings in 28 major markets tracked by ZipRealty in September 2009 included at least one price reduction, down 2.8% from September 2008. 


Homes currently on the market with reduced prices have had their prices cut an average of … (0 comments)

No change in median home price in San Diego Real Estate - 10/13/09 10:19 AM
 
No change in median home price Analyst sees shift in types of properties being sold Union-Tribune Staff By thomas kupper October 13, 2009The median home price in San Diego County stayed at $325,000 last month, unchanged from August, MDA DataQuick reported yesterday. It was the ninth month in a row that the median has either increased or stayed the same, as the real estate market continues to inch its way out of a collapse that cut the median price nearly in half.
But DataQuick analyst Andrew LePage said the increase has been driven less by any improvement in individual property … (2 comments)

Making FHA Loan Limits Permanent Crucial to Housing Recovery - 10/13/09 10:04 AM
Making FHA Loan Limits Permanent Crucial to Housing Recovery
RISMEDIA, George W. MantorOctober 13, 2009—Making the current FHA loan limits permanent would ensure liquidity in the housing market and make mortgages more affordable for qualified buyers at a time when the market is showing signs of a fragile recovery, the National Association of Realtors® recently testified to the House Subcommittee on Housing and Community Opportunity. 

Current FHA loan limits are as high as $729,750 in high cost areas, and are set to expire at the end of the year and revert to lower amounts, greatly hindering the housing recovery process. 
“NAR … (0 comments)

Home Foreclosures Move Up-Market - 10/12/09 08:48 PM
Foreclosures Move Up-Market
 
RISMEDIA, October stan humphries  12, 2009—Recently, there’s been a fair bit of anecdotal discussion around the assertion that foreclosures, once a problem just for the sub-prime segment of mortgages, have been moving up-market. That is, people are suggesting that we’re seeing more foreclosures in the mid- to high-end segments of the market.

Turns out, there’s a lot of truth to this idea. In 2006, at the height of the real estate bubble, homes in the bottom one-third of home values made up almost 55% of all foreclosures. Homes in the middle one-third of home values made … (0 comments)

Home Price Reduction Levels Stay Above 25% for Fourth Consecutive Month - 10/12/09 08:42 PM
Home Price Reduction Levels Stay Above 25% for Fourth Consecutive Month
 
RISMEDIA, October 12, 2009—Trulia, Inc announced that 25.6% of homes currently on the market in the U.S. as of October 1, 2009 have experienced at least one price cut. More than one in four current listings on Trulia have been reduced in price for the fourth straight month. The total amount slashed from home prices is $28.4 billion, a $967 million increase from June 2009. The average discount for price-reduced homes continues to hold steady at 10% off of the original listing price. 

Northeast with Most Homes Reduced; … (0 comments)

Built in 2000 Single Family Home in Point Loma's Liberty Station 92106 - 10/11/09 12:23 PM
Built in 2000 Single Family Home in Point Loma's Liberty Station … (0 comments)

New Pictures for La Jolla Muirlands Home 92037 - 10/10/09 11:55 AM
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Builders Urge Congress to Act on Home Buyer Tax Credit, Appraisal and Lending Issues - 10/10/09 11:34 AM
Builders Urge Congress to Act on Home Buyer Tax Credit, Appraisal and Lending Issues
 
RISMEDIA, October 10, 2009—The National Association of Home Builders (NAHB) called on Congress to help housing take a lead role in putting America back to work by taking quick action to extend and enhance the $8,000 first-time home buyer tax credit, resolve appraisal problems that have been slowing home sales and urge regulators to restore the full flow of credit needed by both home buyers and home builders alike. 

Though existing and new home sales appear to have stabilized in recent months, NAHB Chairman … (0 comments)

Overcoming Fear of Foreclosure Critical for Many People to Keep Their Homes - 10/10/09 11:29 AM
Overcoming Fear of Foreclosure Critical for Many People to Keep Their Homes
RISMEDIA, October 10, 2009—Foreclosure numbers continue to rise and many homeowners are at an increased risk of losing their home. While foreclosure can be prevented, many homeowners remain confused or afraid to confront their mortgage problems and take action to help save their home. “Fear often prevents many consumers from seeking help,” said Michelle Jones, senior vice president of counseling for Consumer Credit Counseling Service (CCCS) of Greater Atlanta, Inc. “Overcoming these fears can mean the difference between staying in your home and losing it.”

CCCS counselors address … (0 comments)

Overcoming Fear of Foreclosure Critical for Many People to Keep Their Homes - 10/10/09 11:27 AM
Overcoming Fear of Foreclosure Critical for Many People to Keep Their Homes
RISMEDIA, October 10, 2009—Foreclosure numbers continue to rise and many homeowners are at an increased risk of losing their home. While foreclosure can be prevented, many homeowners remain confused or afraid to confront their mortgage problems and take action to help save their home. “Fear often prevents many consumers from seeking help,” said Michelle Jones, senior vice president of counseling for Consumer Credit Counseling Service (CCCS) of Greater Atlanta, Inc. “Overcoming these fears can mean the difference between staying in your home and losing it.”

CCCS counselors address … (0 comments)

Homebuyer Tax Credit Best Tool for Sustaining Housing Recovery - 10/09/09 09:55 PM
Homebuyer Tax Credit Best Tool for Sustaining Housing Recovery
 
RISMEDIA, October 9, 2009—The best available tool for sustaining the still-fragile housing market is the $8,000 home buyer tax credit, and it is essential that Congress extend the credit into 2010, the National Association of Realtors® testified at a hearing of the U.S. House Small Business Committee recently. 
The tax credit expires November 30.
NAR Regional Vice President Joseph L. Canfora, a broker-owner with Century 21 Selmar Realty in East Islip, N.Y., also told the panel that a major stumbling block for consumers has been the implementation of appraisal processes … (0 comments)

U.S. Homebuyers Pay Closer to Listing Price in August, but Are Still Negotiating Thousands in Discounts - 10/09/09 09:21 PM
U.S. Homebuyers Pay Closer to Listing Price in August, but Are Still Negotiating Thousands in Discounts
RISMEDIA, October 9, 2009—Home buyers in much of the U.S. are still paying thousands of dollars below the home’s asking price, but had slightly less negotiating power in August 2009 than they did in July, according to the August Zillow Real Estate Market Reports. Buyers paid a median $6,525, or 3% less than the last listing price on homes bought in August, down from $7,018, or 3.3%, less for homes bought in July. Negotiating power peaked in January 2009, when buyers were paying 4.5% less … (0 comments)

1.4 Million Families Have Taken Advantage of First-Time Home Buyer Tax Credit, More Claims Expected - 10/08/09 12:23 PM
1.4 Million Families Have Taken Advantage of First-Time Home Buyer Tax Credit, More Claims Expected
RISMEDIA, October 8, 2009—With the First-Time Home Buyer Tax Credit deadline quickly approaching, the Internal Revenue Service recently reminded potential home buyers they must complete their first-time home purchases before Dec. 1, 2009 to qualify for the special first-time home buyer credit. The American Recovery and Reinvestment Act extended the tax credit, which has provided a tax benefit to more than 1.4 million taxpayers so far. 

The credit of up to $8,000 is generally available to home buyers with qualifying income levels who have never … (0 comments)

Move-In Ready Foreclosure! Near SDSU & Mission Valley 92120 Del Cerro - 10/08/09 11:29 AM
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New Listing Derby Point Carmel Valley Home 92130 Near Torrey Pines School - 10/08/09 11:14 AM
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Whistle – Don’t Tweet – while You Work: Majority of Companies Prohibit Social Networking on the Job - 10/07/09 03:25 PM
RISMEDIA, October 7, 2009—Workers who want to share the latest news with Facebook friends and Twitter followers will need to wait until after hours or risk violating company policy, a new survey suggests. More than half (54%) of chief information officers (CIOs) interviewed recently said their firms do not allow employees to visit social networking sites for any reason while at work. 

The survey was developed by Robert Half Technology, a leading provider of information technology (IT) professionals on a project and full-time basis, and conducted by an independent research firm. It was based on telephone interviews with more than 1,400 … (1 comments)

Online Transaction Processing Has Come of Age - 10/07/09 03:18 PM
Online Transaction Processing Has Come of Age – User and Transaction Growth Significant
 
RISMEDIA, October 7, 2009—WAV Group Inc., a leading real estate consulting firm recently released the WAV Group 2009 Transaction Management Adoption Study. 
Mike Audet, a founding partner of WAV Group reports that transaction management has come of age. “We are seeing encouraging online transaction management adoption increases throughout the country, in our own research and in numbers we have reviewed from the major transaction management vendors. What we pointed out in our 2005 study appears to have come true. Adoption is taking place in “modules” such … (0 comments)

Make the Home Buyer Tax Credit More Easily Available at Closing - 10/07/09 03:15 PM
Make the Home Buyer Tax Credit More Easily Available at Closing

RISMEDIA, By Ken TrepetaOctober 7, 2009—The first-time home buyer’s tax credit cannot be directly used for down payment at the closing table due to federal tax law. In order to claim tax credit, one must meet certain criteria. Since the first-time home buyer tax credit eligibility is contingent upon acquiring the home, it is impossible for one to receive the credit directly before closing on the home. NAR worked with Members of Congress to find a way to “monetize” the credit directly at the closing table. After weeks of work, … (0 comments)

Americans Cautiously Acknowledge Economy Improving – More Renters Finding Reasons to Become Homebuyers - 10/06/09 12:28 PM
RISMEDIA, October 6, 2009—In September 2009, more renters took the plunge to become homeowners but fewer current homeowners opted to move up to more desirable homes or neighborhoods even though these homeowners acknowledge home prices are a good value, according to a new survey commissioned by Relocation.com. 

Seventy percent of respondents said homes are more affordable today than in recent months. Further, 69% indicated they believe the economy is improving with 19%- the largest proportion—citing declining home values as a primary reason for this improvement. But Americans are still cautious: only 26% of survey respondents took advantage of these more affordable … (1 comments)

HUD Changes for Condo FHA Buyers - 10/05/09 08:36 PM
HUD Changes for Condo FHA
Did you hear about the upcoming changes from HUD in regards to approval for FHA financing on condos?  They were announced this summer, but their effective date is now less than a month away. Here are some of the noteworthy provisions below, as well as a link to the webpage with a link to the official HUD letter – “Mortgage Letter 2009-19”.   I hope this info is helpful.  At the very least, it’s good to be informed, right?
 
FYI – the original effective date was 10/1/09, but it was extended to 11/2/09.
Effective 11/2/09 …
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Finding Your Dream Foreclosure: What to Know When You’re Buying an REO Property - 10/05/09 09:51 AM
Finding Your Dream Foreclosure: What to Know When You’re Buying an REO Property
RiSMEDIA, October 5, 2009—Amy hoak (MarketWatch/MCT)—Buying a foreclosure often is appealing to buyers trying to stretch their dollars. It’s finding a good one can that can be a challenge.

“The vast majority of the banks don’t want us to advertise them as ‘bank-owned’ because it comes with a negative connotation,” said Ryan Melvin, co-owner of More Realty Group in Las Vegas.
That means no sign on the front lawn indicating the home is anything other than a traditional sale. A buyer probably won’t find a property advertised … (3 comments)

Stalking the Elusive Foreclosure Deal; Bargains are Few, Obstacles are Many - 10/03/09 10:14 AM
Stalking the Elusive Foreclosure Deal; Bargains are Few, Obstacles are Many  Print ArticleRISMEDIA, October 2, 2009By Kathleen Lynn(MCT)—Joseph Licari and Danielle Block had a simple goal when they started house-hunting. “We were looking for a bargain,” said Licari, a civil engineer. “And the bargains were in bank-owned and foreclosed homes.” They recently bought one of those properties, a small Cape Cod on a leafy street in New Milford, N.J., for $257,000, about 15% below its market value, based on its assessment and the prices of similar properties nearby. 

<!-- Single post title end --> Like Licari and Block, many buyers who … (0 comments)

Record Streak Continues for Pending Home Sales - 10/03/09 10:11 AM
Record Streak Continues for Pending Home Sales
RISMEDIA, October 3, 2009—Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August 2009, rose 6.4% to 103.8 from a reading of 97.6 in July, and is 12.4% above August 2008 when it was 92.4. The index is at the highest level since March 2007 when it was 104.5. 
Lawrence Yun, NAR chief economist, said not all contracts are turning into closed … (0 comments)

Tax Credit Extension Needed to Guard Against Real Estate Decline - 10/02/09 05:14 PM
RISMEDIA, October 2, 2009—According to a recent survey of real estate agents, the first-time homebuyer tax credit has been extremely successful in stimulating the housing market and the overall economy. However, the overwhelming majority of agents polled, see challenges for real estate if the tax credit is allowed to expire on Nov. 30, 2009. 

Of the nearly 1,000 agents surveyed in a study conducted by Weichert, one of the nation’s largest independently-owned real estate companies, 71% reported that the $8,000 tax credit was the single largest factor motivating the buyers they have worked with in 2009 far surpassing affordable home prices … (0 comments)

First-Time Homebuyers Buoy Real Estate Market - 10/02/09 05:07 PM
First-Time Homebuyers Buoy Real Estate Market

RISMEDIA, October 2, 2009By David Bracken—(MCT)—The housing market is getting a much-needed boost as first-time homebuyers rush to take advantage of an $8,000 federal tax credit that is set to expire Nov. 30, 2009. 
The incentive is helping to slow the decline in home sales. In August, sales were down 1% over the comparable period last year, the smallest year-over-year decline in any month since late 2007. As Congress considers extending the credit, real-estate agents and home builders worry sales could slump again if it’s allowed to expire.
A full accounting of the program’s popularity … (0 comments)

10 Hard-Hit Housing Markets That Are Ready to Rebound - 10/02/09 03:37 PM
After slumping, home prices in these 10 cities are expected to rise over the next three to five years Luke Mullins, USNews.comOct 1st, 2009As the historic housing crash continues to hammer real estate prices from coast to coast, many homeowners probably can't remember the last time their property's value actually increased. But even with home prices still falling at the national level, a number of hard-hit housing markets are gearing up for a rebound. (Get free instant home values and see comparable home valuations in the Home Values Center.)
To pinpoint the cities most likely to go from slump to bump, … (1 comments)

Time Expiring on Home-Buying Tax Credit - 10/01/09 09:18 AM
RISMEDIA, October 1, 2009—(MCT)—Realtors are bracing- make that hoping- for a flurry of activity in the next few weeks as a tax credit for first-time home buyers edges toward its expiration. 

The incentive offers a tax credit of 10% of the purchase price, up to $8,000, for first-time buyers with certain income limitations. The tax credit was created as part of the $787 billion federal stimulus package in February to help stimulate the property market. It is set to expire Nov. 30, though some lawmakers are pushing to extend the deadline. 
“Starting back in the summer, we started seeing a real … (0 comments)

FHA Delays Rules in Move That Will Help First-Time Buyers Qualify for Tax Credit - 10/01/09 09:11 AM
RISMEDIA, October 1, 2009—The Federal Housing Administration (FHA) has delayed the implementation of rules that could make life more difficult for condo buyers in the metro Chicago real estate market and across the country. The delay should be especially helpful for those hoping to qualify for the first-time buyer tax credit that expires after Nov. 30. 

According to Jim Merrion, regional director of the RE/MAX northern Illinois real estate network, the new FHA rules, which were to take effect Oct. 1, 2009 will now be effective on Nov. 2. They are designed to improve the lending process, but they could cause … (1 comments)