First Time Home Buyers
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From our friends at RealtyTrac.com, foreclosure filings rose close to 20 percent nationwide last month versus February. In the first quarter of 2010, bank repossessions hit a new all-time record: 257,000 homes.
This is not a news flash: The foreclosures remain concentrated in a very small amount of states. It’s been like this for this [...]
Continue Reading →The housing market is surging right now. In part this is fueled by the first time home buyer tax credit, but let’s be honest: The first time home buyer credit extension was unnecessary. The housing market was well on its way to recovery when Version 3.0 of the tax credit came out.
Couple low rates [...]
Continue Reading →Not all home improvements are created equal. Especially if you’re looking for “resale value” back from your work.
An article from the Wall Street Journal lays it out cleanly. Function beats flash these days so be wary of where you spend.
Environmental upgrades such as home insulation and [...]
Continue Reading →Against all odds and common sense, mortgage rates improved last week.
The Fed turned off the $1.25T faucet and all expectations were for rates to surge higher. Instead, the geopolitical nightmare that is Greece and the Eurozone pushed rates lower. Two weeks ago was brutal. Last week, rates retraced 2/3′s of those losses.
Why? Because [...]
Continue Reading →There is a major problem brewing in the real estate market and it’s going to cause problems at the end of the first time home buyer tax credit on April 30th.
Here’s the problem: Pre-approvals are an indication of terms at a precise moment in time, but guidelines are changing weekly, if not daily.
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Mortgage rates improved yesterday after the release of the Fed’s March 16, 2010 meeting minutes.
This is good news. Rates could have just as easily, actually more easily, jumped higher.
The minutes are a detailed recap of the internal debates at the last meeting. How thorough? Thorough enough that [...]
Continue Reading →Exactly as expected, Pending Home Sales jumped in February. This is likely to be one of three consecutive very hot marks in a row.
We’re up 8% over January’s figure and right in line with the countdown to the end of last year’s first time home buyer tax credit.
This is big news. A “pending [...]
Continue Reading →Mortgage rates had a bad week. It was ugly every day and marked two weeks in a row where rates deteriorated.
It came from all sides. We had the normal volatility of a holiday week, there was strong economic news, and the Fed’s buyback/rate subsidy program came to an end.
We’re at the highest levels [...]
Continue Reading →We’re at just 30 days remaining to use the federal home buyer
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