housing market

Home Sales Run Rampant: Prices Lag Behind

Armen Hareyan — Wed, 25 Nov 2009 08:50:16 -0600

At least for the moment, homebuyers across the country appear to be in a state (perhaps even a nation) of euphoria. Average numbers of homes sold across every region of the United States leaped by more than 20% over last year. They also moved up more than 10% over last month’s numbers of homes sold, although average sale prices of homes dropped by 7%, to a median figure of just under $174,000.

More home foreclosures could be on the horizon

Sharalyn Hartwell — Tue, 24 Nov 2009 08:34:54 -0600

The housing crisis isn't over yet. Nearly one in every four mortgages are upside down, meaning homeowners owe more money than their home is worth, according to a report released Tuesday.

Foreclosures down for the moment

Armen Hareyan — Thu, 12 Nov 2009 11:54:56 -0600

Although foreclosure filings were down for the third month in a row in October, foreclosure filings continue to rise.

Mortgage Rates Improve While Mixed Signals Continue

Armen Hareyan — Fri, 06 Nov 2009 15:26:50 -0600

Yesterday we heard the news that the First Time Homebuyer Tax credit that was slated to expire on November 30th, 2009 is being extended until next spring. Future homeowners need to get under contract before May 1st 2010 to take advantage of the extension. This is great news for realtors, mortgage people and most of all buyers in light of the current low mortgage rates.

The $6500 Homebuyer Tax Credit Effective Nov 6

Armen Hareyan — Thu, 05 Nov 2009 20:30:47 -0600

The extension of the home buyer tax credit is official now. The $8,000 home buyer’s tax credit will be extended and the new $6,500 homebuyer’s incentive tax credit will begin. The bill is expected to be signed by President Obama on Friday, November 6, 2009. The same bill also provides a tax break for businesses that lost money, and extends unemployment benefits for another 20 weeks.

Tax Credit Extended, Some Home Buyers To Get 6500

Sandy Smith — Thu, 05 Nov 2009 15:16:21 -0600

The House of Representatives today joined the Senate in approving legislation that would expand and extend into next spring an $8000 tax credit for first-time homebuyers. The bill now goes to President Barack Obama for his signature. Existing home buyers will get $6500 home buyer tax credit.

Chinese Drywall Hurts Home Sales and Home Owners

Armen Hareyan — Sun, 01 Nov 2009 09:38:37 -0600

While there may be ample reason to fear that the Chinese will subvert our economy by dumping U.S. dollars, there is greater reason to fear the drywall that they sent with no malice aforethought.

Government Looks To $8,000 Tax Credit Extension for First Time Home Buyers

Michael Santo — Thu, 29 Oct 2009 14:24:08 -0500

A new report today stated that the government's first-time home buyer $8,000 tax credit has spurred a significant amount of sales this year, estimated to be as many as 400,000 by the time the program ends at the end of November. At the same time, news reports this morning state that Senate negotiators have reached a tentative deal on extending and slightly expanding the tax credit.

Home Sales Figures Confuse Markets

Armen Hareyan — Wed, 28 Oct 2009 09:48:41 -0500

There seems to be some confusion in the housing markets lately. Conflicting figures and opinions from authoritative indexes and pundits tell us that we’ve either hit the bottom of the housing market, we’re moving down again, or we’re moving up. This kind of analysis is likely to produce housing vertigo. As a result it becomes difficult for the average individual to decide whether it’s a good idea to purchase a home at this time.

Housing Market Recovery Predicted for 2010

Armen Hareyan — Mon, 19 Oct 2009 08:38:18 -0500

As we move into the last quarter of 2009, home sales figures have risen on average all over the nation, and home prices have inched up in 140 metro areas. The overall consensus is that the housing market has bottomed. However, most economists opine that the market will not get off its bottom and move into forward motion until 2010.

Congress To Consider Extending Home Buyers Credit To All

Denise Clay — Fri, 16 Oct 2009 11:35:39 -0500

The deadline for first-time home buyers to get the credit is approaching fast. If some Congress members have their way, that deadline will be extended and the program will be opened up to everyone.

Buyer's Choice Act Law Helps California Homebuyers

andeallen — Thu, 15 Oct 2009 13:27:27 -0500

Sunday October 11, 2009, California Governor Schwarzenegger signed the Buyer’s Choice Act, Assembly Bill 957, into law. The new law prohibits owners (typically banks) of foreclosed properties from forcing California homebuyers to use a particular title company, Escrow Company or other real estate service provider. The Buyer's Choice Act requires that a disclosure notice be provided to buyers informing them of their rights to choose their own real estate services companies to close their transactions