real estate: Market Improving?
- 11/07/09 01:57 AM
Here is an interesting article I found today: Daily Real Estate News | November 6, 2009 | Share Declining Inventory Sign of Stabilizing Market An important reason that the housing market is stabilizing is the reduction in inventory. Current sales and inventories suggest that supply will decline below the pre-2006 levels by the end of 2009. But analysts say that the stabilization of the market doesn’t mean that prices will rise anytime soon. They point to what they call “shadow inventory,” foreclosed homes that banks are holding off the markets. They predict that these homes will hit the market in spring 2010. But overall, … (1 comments)
real estate: Bedford County Land: 10.35 acres - Price Reduced!
- 11/07/09 01:21 AM
We have a listing on Mentow Dr in Huddleston. It is land that consists of 2 lots. The first is a 1.32 acre parcel which is very level and completely cleared: a perfect building site. The second parcel is 9.03 acres adjoining the smaller lot. It is narrow at the road but hats much wider. Portions are cleared but mostly wooded. The nine acre lot starts out very level and begins to slope down about half way back as it becomes wooded. As you continue through the wooded are you come upon a clearing suitable for a home location. The smaller … (1 comments)
real estate: How the Stimulus Plan May Affect Your Mortgage
- 02/28/09 01:09 AM
Now that President Barack Obama’s $787 Billion Economic Stimulus Bill has been signed into law and will take effect on March 4, many American homeowners are anxiously wondering how this bill may affect the housing market. Despite primarily focusing on bolstering the economy by creating jobs and reviving spending, the bill includes steps to revitalize this critically important segment of the American economy. But what impact will the stimulus package directly have on your mortgage? President Obama’s plan, called the American Recovery and Reinvestment Act, is designed to address two different groups of homeowners: those who are current on payments … (2 comments)
This is a letter sent to all REALTORs regarding Pesident Obama's plan to reduce mortgage interest deductibility.
Dear Fellow REALTOR®, You may have seen news reports about President Obama’s budget proposal that was released today at 11:30 AM Eastern Time. A small section of the sweeping budget plan has the potential to become a major impediment to a recovery in real estate markets across the nation. NAR is 100% opposed to the provision that modifies the Mortgage Interest Deduction and is prepared to use its formidable array of resources against its enactment. As currently drafted, the plan changes … (0 comments)
real estate: Stimulus package overview
- 02/27/09 02:53 AM
Everyone and his mother has an analysis of H.R. 1, the aforementioned American Recovery and Reinvestment Act of 2009. You can find lots of them with a quick Google search, but we wanted to stick to the Realtor® angle and some of the bigger housing-related components in the bill: An $8000 tax credit for first-time home buyers, which does not have to be repaid The reinstatement of 2008 loan limits for FHA, Freddie Mac, and Fannie Mae. (Here comes the math: The limits are equal to the greater of 125 percent of the 2008 local area median home price or $271,050 for FHA … (0 comments)
real estate: $8000 CREDIT IS FINAL AND APPROVED
- 02/27/09 02:34 AM
House and Senate conferees completed work on final elements of the stimulus legislation early this morning. I would like to provide you with a brief overview of what is in the final legislative package, particularly as it relates to the housing community.
House and Senate conferees have agreed upon a compromise stimulus package at a total cost of $789 billion. The House is scheduled to vote on the package today and the Senate will follow suit shortly thereafter, with the expectation that the legislation will reach President Barack Obama's desk by Monday, Feb. 16. There are several provisions in … (0 comments)
real estate: Home prices will rebound
- 02/27/09 02:29 AM
RISMEDIA, February 20, 2009-”Those who do not study history are condemned to repeat it.” So spoke Sir John Buchan, the First Baron of Tweedsmuir, back in the mists of time often referred to as “the good old days.” Well, I may not be as old as the Baron, but I did live through President James Earl Carter, 21% prime interest rates, 20% inflation, Paul Volker and his attempt to strangle inflation by strangling the money supply, and that famous “WIN (Whip Inflation NOW!)” button the White House handed out. The period I am referring to was in the 1970s and early … (0 comments)
real estate: Homeowner Stability plan
- 02/27/09 02:05 AM
Homeowner Affordability and Stability Plan On February 18, 2009, President Obama announced his Homeowner Affordability and Stability Plan, designed to help up to 7-9 million families avoid foreclosure by restructuring or refinancing their mortgages. In doing so, the plan not only helps responsible homeowners behind on their payments or at risk of defaulting, but prevents neighborhoods and communities from being pulled over the edge too, as defaults and foreclosures contribute to falling home values, failing local businesses, and lost jobs. The key components of the plan are: 1. Government Sponsored Enterprises (GSEs) Refinancing for Up to 4 to 5 Million Responsible … (0 comments)
real estate: Roanoke Real Estate Market Update
- 02/12/09 11:29 AM
The Roanoke Valley real estate market is slow. There is no doubt about that. Some well known agents who typically represent high class homes and mansions are taking listings for under $100k. That says a lot. To me it says that this is what is selling right now: smaller and cheaper homes. Now with thebproposed $8000 tax credit just for first time buyers the number of smaller home sales is likely to increase. The amount of foreclosures is steadily increasing while over all home prices are steadily decreasing not, however, at the same rate as the national average. Roanoke has done … (0 comments)
real estate: $7500 tax credit for first time homebuyers through August 2009
- 02/12/09 11:21 AM
$7500 !!!! Well it's better than nothing. Myself and several colleagues were really hoping the new economic stimulus package would include the $15000 tax credit for any home buyer in 2009. Instead it looks like we'll get a $7500 credit for first time buyers who purchase a home by the end of August. It appears the House will vote to approve the package very soon and the Senate is likely to follow suit very soon. This is good, but 1st time buyers make up a very small part of the market. At any given time the percentage of 1st time home … (0 comments)
real estate: New listing in Botetourt near Fincastle
- 12/04/08 02:58 AM
I have listed for sale a beautiful ranch just outsid eof Fincastle on Springwood Rd. It is a 3 bedroom, 1 bath home in excellent condition. The bathroom has been remodeled as well as the kitchen with all new cabinets and new wood floors throughout the home. All the trim work is new and everything has been freshly painted, just ready to move in! There is a heat pump/central air system. The home sits on a 1 acre lot and has a new storage shed as well as a barn with electricity. perfect for horses or just storing your toys!
Here is an interesting article I found today:
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