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Homebuyers have 58 days to obtain a written, binding contract to qualify for the housing tax credits. First-time buyers and buyers who have not owned a primary residence for the past 3 years qualify for an $8,000 tax credit (or 10% percent of the sales price, whichever is less) so long as they are under [...]

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Tags: $6500, $8000, $8000 tax credit, 6500 tax credit, Housing, housing credit extension, realtors, tax credit, worker homeownership and business assistance act of 2009

Read the National Association of Realtors’ full press release.
“Contract activity for pending home sales fell after a surge of activity in preceding months to beat the original deadline for the first-time home buyer tax credit but remains comfortably above a year ago, according to the National Association of Realtors®.
The Pending Home Sales Index,* a forward-looking [...]

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Tags: home sales, november, pending home sales index, pending sales, realtors

There is no greater rivalry than that of Realtor v Appraiser. Red Sox v Yankees? Not even close.  Alien v Predator? Yawn.
Animosity between real estate agents and appraisers is nothing new. However, in recent months appraisers have been undercutting sales prices with increased regularity. Much of the conflict has to do with the rising number [...]

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Tags: appraisal, appraisal cuts, appraisals, apprasisers, cut appraisals, foreclosures, realtors

Despite the increase in real estate sales in 2009, commissions earned by real estate brokers and agents reached a seven year low. The National Association of Realtors reported that nearly 75% of homes sold last month were $250,000 or less. Housing tax credits and foreclosures are expected to lower the national median home price to [...]

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Tags: career, Housing, Real Estate, real estate sales, realtors

Press release explaining housing tax credits benefits for the armed service, intelligence service and foreign service personnel  (National Association of Realtors).
“SAN DIEGO – Nov. 13, 2009 – According to the National Association of Realtors@ (NAR), the recent homebuyer tax credit extension expands benefits for the U.S. military.
Armed service, intelligence service and foreign service personnel on [...]

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Tags: $6500, $8000, armed services, foreign service, Housing, housing credit extension, intelligence service, tax credit, tax credit extension, worker home ownership and business assistance act of 2009, worker homeownership and business assistance act of 2009

According to the National Association of Realtors, November home sales skyrocketed 7.4 percent. Analysts were predicting an increase of 2.9 percent. The housing tax credits are credited with the spike in sales.
There are 129 days until the housing tax credits run out. For more details about the housing tax credits, visit our Housing Tax Credit [...]

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Tags: bill h.r. 3548, bill hr 3548, home sales, Housing, housing tax credits, realtors, worker homeownership and business assistance act of 2009

The National Association of Realtors released guidelines for the new Home Affordable Foreclosure Alternatives (HAFA) program. The government’s program is designed to streamline the short sale process for qualifying homeowners.
DHW asks: Have you sold your home as a short sale? If so, how was your experience?
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The National Association of Realtors reported its seasonally adjusted index of sales agreements inched up 3.7 percent from September to October to 114.1.  Economists surveyed by Thomson Reuters predicted the index would sink to 109.5.
The housing industry’s index represents offers written and accepted for existing properties. All parts of the country saw a year-over-year increase [...]

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Tags: $6500, $8000, housing credit extension, pending home sales, realtors, tax credit

From the AP:
“Home sales far exceeded expectations last month, surging to the highest level in 2 1/2 years as first-time buyers rushed to take advantage of an expiring tax credit.
The National Association of Realtors said Monday that home resales rose 10.1 percent to a seasonally adjusted annual rate of 6.1 million in October, from a [...]

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Tags: $6500, $8000 tax credit, first time homebuyers, home sales, homebuyers, Housing, housing credit extension, housing news, Real Estate, real estate news, tax credit extension

During a speech to the National Association of Realtors in San Diego, FHA Commissioner David Stevens said his agency is not headed for the same fate as Fannie Mae, Freddie Mac or the subprime sector. Concerns about the FHA’s financial well being were raised last week when it was revealed in an independent audit that [...]

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