Posts Tagged ‘national association of realtors’

Stevens: FHA sublime, not subprime

Posted on November 16th, 2009, by DHW

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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Realtors forecast uptick in home prices 2010

Posted on November 14th, 2009, by DHW

Lawrence Yun, chief economist for the National Association of Realtors, predicted on Friday that home prices will rise in 2010. If his prediction holds true, home prices will see their first increase in four years.
Yun pointed to the current price-income ratio of 2.4 as evidence of pent-up demand in the market. The price-income ratio accelerated [...]

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Realogy CEO just doesn’t get it.

Posted on November 11th, 2009, by DHW

In a CNBC interview this morning, Realogy CEO, Richard Smith, called on FHA to increase its minimum required down payment of 3.5%. Mr Smith suggested the ‘risk profile’ will have to change to stave off foreclosures. This argument only perpetuates the myth that those who put less money down are somehow less attached to their [...]

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Critics be damned. Home sales up, prices down

Posted on November 10th, 2009, by DHW

Critics of the Housing Tax Credit were quieted, if only briefly, when the National Association of Realtors (NAR) released data for third quarter home sales. According to the trade group, home sales increased by nearly 6% over this same time last year. Despite the spike in sales, prices have fallen more than 11% during the [...]

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Done! Obama signs bill extending, creating Tax Credits

Posted on November 6th, 2009, by DHW

President Obama signed bill  H.R. 3548, extending unemployment benefits for all states and extending the $8,000 Tax Credit for first home buyers. The bill also creates a $6,500 tax credit for those home buyers who have owned their current primary residence for at least 5 years.  See ‘Housing Tax Credits’ for more details. You can [...]

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Obama to sign unemployment benefits, $8000 tax credit bill

Posted on November 6th, 2009, by DHW

President Obama is scheduled to sign bill H. R. 3548, extending unemployment benefits to all states.  When signed, the bill will also extend the $8,000 tax credit for first time home buyers as well as initiate a new $6,500 tax credit for those home buyers who have owned a primary residence for at least 5 [...]

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House approves $8000 Tax Credit extension

Posted on November 5th, 2009, by DHW

The House of Representatives overwhelmingly approved an extension of unemployment benefits to all 50 states, and the popular $8,000 tax credit to first time home buyers. The measure also allows a $6,500 tax credit for home buyers who have owned their primary residence for at least 5 years. President Obama is expected to sign the [...]

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September Pending Home Sales Index up 6.1%

Posted on November 2nd, 2009, by DHW

The National Association of Realtors reported that its Pending Home Sales Index was up 6.1% in September to 110.1 from a reading of 103.8 in August.
First-time buyers taking advantage of the $8,000 tax credit are believed to be behind the spike in sales.  The group says sales are up 21.2% year over year.
DHW asks: Do [...]

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