Posted on November 23rd, 2009, by DHW
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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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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Posted on November 16th, 2009, by DHW
As any good Realtor will tell you, price moves a home. But sometimes Realtors (as well as sellers) are afraid to take their own advice. As housing evaluations have dropped around the country, listing prices have been slow to follow. To get the job done, and your home sold, a price reduction might be in [...]
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Posted on November 16th, 2009, by DHW
Zero percent kitchen: n. a kitchen remodeled at the height of the real estate and credit bubble, between 2001 and 2006, featuring high-end details such as granite or Corian countertops; designer cabinets; stainless steel appliances and upgraded flooring (e.g. hardwood or travertine tile). Improvements were paid for with zero percent financing programs originated at home improvement [...]
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Posted on November 16th, 2009, by DHW
A survey released last week by Move.com, a real estate website, shows 1 in 5 Americans plan on purchasing a home within the next year. The survey also revealed these buyers are most likely to be 34 years of age or younger and live in the South or West.
It should be noted this survey was [...]
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Posted on November 15th, 2009, by DHW
The Capital published an intriguing article addressing the potential side-effects of expanding the housing tax credits beyond first time homebuyers. The article raises some fair questions with regard to existing homes needing to be liquidated so that current homeowners can take advantage of the housing tax credits now afforded to them. The Capital article focuses on [...]
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Posted on November 14th, 2009, by DHW
Recovery of the commercial real estate market remains in question as the Moody’s commercial property index dropped 3 percent in October. The index is down over 32 percent from a year ago and over 40 percent from two years ago.
The Mortgage Bankers Association reported loan activity for commercial and multifamily real estate fell 54 percent in [...]
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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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Posted on November 13th, 2009, by DHW
Despite a drop in jobless claims and and a bullish stock market, the Reuters/University of Michigan Surveys of Consumers reports its consumer sentiment index for November plunged to 66 from 70.6 in October. Some had expected the November preliminary sentiment index to rise.
DHW asks: Do you agree with the sentiment index?
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Posted on November 12th, 2009, by DHW
From The Washington Post : ‘FHA’s cash reserves have dropped well below amount required by law, audit shows’
DHW asks: Do you think the FHA’s reserves will hit zero?
FHA loan limits in your area
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