housing market: Senate Voted to Extend Homebuyer Tax Credit
- 06/17/10 04:44 AM
The Senate voted Wednesday to give homebuyers another three months to settle on their contracts and take advantage of a popular tax credit that sparked a rush of activity in the housing market. The Senate, with a vote of 60-37, accepted an amendment by Democratic Leader Harry Reid that extends the closing deadline to Sept. 30 for buyers who met the April 30 deadline to have a signed contract. The current deadline requires buyers to close by June 30 to get the $8,000 tax credit for first-time homebuyers. Existing homeowners buying a new primary residence are eligible for a $6,500 credit. Reid offered … (0 comments)
housing market: Market Update
- 09/29/09 09:54 AM
The FOMC- Federal Open Market Committee, met last week to consider the future direction of interest rates, and it agreed to hold its short-term rate target at 0 -- 0.25 percent, the same level it has held since last December. The Fed adjusted the language of its statement just slightly, placing just a bit more emphasis on signs of improving economic activity. This gradual shift paves the way for the eventual time when the Fed will need to raise rates to a more normal level. But for now, the Fed confirmed its position that short-term rates will remain at their exceptionally … (5 comments)
housing market: Banks Walking Away from Foreclosures?
- 08/18/09 08:42 AM
I have been reading lately some of the latest news on the housing market and something I read suprised me! Banks are actually walking away and not foreclosing on some homes in certain areas. Areas like Detroit, Cleveland and Buffalo to name a few. Homeowners have been told by banks that they still have title to the home after they have been evicted by the bank. Interesting way to pressure them into making the payments, evict them then tell them they are not selling the property at the auction! I would imagine in most of these cases the properties are in … (4 comments)
housing market: Is Now the Right Time to Buy?
- 07/06/09 06:18 AM
I get this question a lot lately. Is now the time to buy? Have we hit bottom yet? All debatable for sure. I think the answer depends on where you live and what your current financial situation is. Personally I believe we are probably about half way through this foreclosure crisis. I believe this is a great time to be a buyer but of course a bad time to be a seller. Are we at the bottom? Probably close to it but there are great deals all across the country, especially in areas like California, Florida, Nevada, Hawaii and Arizona where prices … (0 comments)
housing market: Ways to Use Twitter- Part 1
- 10/30/08 09:55 AM
Twitter can be used many ways and is a great marketing tool. This article will show you some creative ways to use Twitter. Ways to use Twitter Okay once you have set up your twitter account make sure you set up your profile with your picture, a short bio with a link to your website as well. I recommend doing a search for friends on twitter, you can do a search on people that you may want to follow that relate to you and or your business. When you are sending updates make sure you don't overdo it and promote your … (3 comments)
housing market: President Bush signs new Bailout Bill
- 10/03/08 10:52 AM
Below are the basics of the new Bailout Bill, some of the details I got online but I found it interesting enough to share with you. It took two weeks of moral and financial debate, but Congress and the President Bush signed the Bill today and finally approved the $700 billion bailout of the financial system. President Bush signed the bill less than two hours after the plan, which had been amended and passed by the Senate on Wednesday, was approved by the House. The changes the Senate made include the addition of a host of tax break extensions and some new provisions intended to … (0 comments)
housing market: When will the Real Estate Market stop going down?
- 10/01/08 10:33 AM
A question I get asked quite often is when will the real estate market stop going down? Or have we already hit bottom? This is a tough question to answer but I believe we have not hit rock bottom yet. Here is why- There are thousands of people in sub prime mortgages who have adjustable rate loans that have yet to go up. Also there are thousands of people in negative amortization or pay options arms that have yet to reset. When those loans reset or adjust the payments on those loans will rise dramatically. Unless the current lender is willing … (2 comments)
housing market: When will the Real Estate Market stop going down?
- 10/01/08 10:30 AM
A question I get asked quite often is when will the real estate market stop going down? Or have we already hit bottom? This is a tough question to answer but I believe we have not hit rock bottom yet. Here is why- There are thousands of people in sub prime mortgages who have adjustable rate loans that have yet to go up. Also there are thousands of people in negative amortization or pay options arms that have yet to reset. When those loans reset or adjust the payments on those loans will rise dramatically. Unless the current lender is willing … (4 comments)
housing market: Record Slide continues for Home prices
- 08/27/08 10:24 AM
The pounding continues in the housing market. The standard and poor's case schiller US. home price index fell 15.4% in the second quarter compared to last year. The decline was the largerst in 20 years for the index which covers the entire U.S. Los Angeles and Orange County home prices were down 25.3% in June of 2008 compared to prices in June of 2007. The cities with the worst declines were Las Vegas and Miami at over 28% each. Phoenix Arizona was just under 28% at 27.9% from the previous June of 2007. The thing that caught my attention was that … (0 comments)
housing market: Record Slide continues for Home prices
- 08/27/08 10:23 AM
The pounding continues in the housing market. The standard and poor's case schiller US. home price index fell 15.4% in the second quarter compared to last year. The decline was the largerst in 20 years for the index which covers the entire U.S. Los Angeles and Orange County home prices were down 25.3% in June of 2008 compared to prices in June of 2007. The cities with the worst declines were Las Vegas and Miami at over 28% each. Phoenix Arizona was just under 28% at 27.9% from the previous June of 2007. The thing that caught my attention was that … (0 comments)
housing market: Record Slide continues for Home prices
- 08/27/08 10:20 AM
The pounding continues in the housing market. The standard and poor's case schiller US. home price index fell 15.4% in the second quarter compared to last year. The decline was the largerst in 20 years for the index which covers the entire U.S. Los Angeles and Orange County home prices were down 25.3% in June of 2008 compared to prices in June of 2007. The cities with the worst declines were Las Vegas and Miami at over 28% each. Phoenix Arizona was just under 28% at 27.9% from the previous June of 2007. The thing that caught my attention was that … (3 comments)
housing market: Foreclosure Issues
- 08/19/08 11:34 AM
Well uh..more bad news on the nations foreclosure forefront. Foreclosures are up 8% this month and 55% year over year. The top foreclosure state right now is Nevada with foreclosure activity hitting 1 out of ever 106 household an unbelievable number! The next state is my home state of California where 1 out of every 182 homes are affected by foreclosure. This is very disturbing to me, I hope it gets better soon but honestly I don't think it will. In my humble opinion the worst is yet to come. We have hundreds of thousands of borrowers in negative amortization arms, subprime … (4 comments)
housing market: Nations Foreclosure Issues
- 08/19/08 11:32 AM
Well uh..more bad news on the nations foreclosure forefront. Foreclosures are up 8% this month and 55% year over year. The top foreclosure state right now is Nevada with foreclosure activity hitting 1 out of ever 106 household an unbelievable number! The next state is my home state of California where 1 out of every 182 homes are affected by foreclosure. This is very disturbing to me, I hope it gets better soon but honestly I don't think it will. In my humble opinion the worst is yet to come. We have hundreds of thousands of borrowers in negative amortization arms, subprime … (9 comments)
This is my blog all about the world of Mortgages and financing.
I will cover a variety of topics from what is happening in the current housing and mortgage market to how this affects you and your finances and what you can do to put yourself in a better situation financially.
God Bless,
Dan Chapman
The Senate voted Wednesday to give homebuyers another three months to settle on their contracts and take advantage of a popular tax credit that sparked a rush of activity in the housing market.
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