First Time Home Buyers
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The housing market continues to beat expectations. Last week, the Existing Home Sales report beat expectations.
An “existing home” is a home sold by an existing owner as opposed to a developer. It’s non-new construction property.
The data from the Existing Home Sales report was noteworthy for [...]
Continue Reading →Mortgage rates are ever so slightly better today. The Existing Home Sales figure blew away expectations today. With about six shopping weeks left under the $8,000 tax credit, this next run of pending homes sales could be staggering too.
The housing market has momentum again as three forces collide:
Tax Credit [...]
Continue Reading →Rates are roughly the same since the 10am post, but it’s about to get interesting. It’s crystal ball time…just a quick mortgage rate forecast for what we’ll be talking about tomorrow: Mortgage Rates are going to move heavily in the near future based on these next few days of trading heading into the weekend.
We’re [...]
Continue Reading →$8,000 First-Time Home Buyer Tax Credit Program
The tax credit was part of the the 2009 economic stimulus plan. This program expires on November 30, 2009.
I don’t know of a Realtor in the world who will write a November 30, 2009 contract [...]
Continue Reading →Homebuilder confidence is very important for the economy.
Continue Reading →Foreclosure-tracker RealtyTrac reports that the number of foreclosures nationwide rose 7 percent last month on a month-to-month basis.
Once again, the usual suspects top the list:
California : 30.0 percent Florida : 15.7 percent Arizona : 5.4 percent
On a per-household basis, the states ranked 2, 3 and 4 with Nevada the “winner” on that [...]
Continue Reading →Strong Pending Home Sales Data Hit Again
June’s figures show that the number of homes under contract rose for the fifth straight month.
This is the best run for the Pending Home Sales Index since 2009 and adds more supporting statistics that indicate the housing market [...]
Continue Reading →1. $8,000 – New Buyers: The lower of 10% of purchase price or $8,000–in other words, over $80,000, the $8,000 first time homebuyer tax cap will apply. This is only for first-time home buyers (see point 2) and on principal residences. Unlike last year’s $7,500 home buyer tax credit, you’re not repaying $500 a year [...]
Continue Reading →Housing Starts thumped expectations in June. A “housing start” is a new home on which construction has started. Last month’s jump in single-family starts is the largest one-month jump since 2004.
This is the latest news that says that housing might be recovering. It’s not without a mixed [...]
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