$8,000 First-time Home Buyer Tax Credit at a Glance
About the First-Time Home Buyer Tax Credit
Showing posts with label short sales. Show all posts
Showing posts with label short sales. Show all posts
Thursday, November 12, 2009
New Tax Credit FAQ!
Tuesday, December 30, 2008
Weekly Market Activity Report
Weekly Market Activity Report
The recent plunge downward in mortgage rates to a decades-low level is spurring Twin Cities home sales, despite shorter days and holiday interruptions. For the week ending December 20, there were 553 purchase agreements signed (pending sales), which is an increase of 20.0 percent from the same week last year.
Since rates dropped three weeks ago, there have been 368 more pending sales than there were during the same period in 2007, an increase of 27.5 percent. During this period, 57.6 percent of sales have been lender-mediated foreclosures and short sales and 45.8 percent are below $150,000.
Listing supply is relatively flat with last year at this time over the past few weeks, with an increasing share of new listings being lender-mediated. Traditionally, sellers often pull back at this time of year to wait out the holidays, but banks continue to list no matter what time of year it is.
The recent plunge downward in mortgage rates to a decades-low level is spurring Twin Cities home sales, despite shorter days and holiday interruptions. For the week ending December 20, there were 553 purchase agreements signed (pending sales), which is an increase of 20.0 percent from the same week last year.
Since rates dropped three weeks ago, there have been 368 more pending sales than there were during the same period in 2007, an increase of 27.5 percent. During this period, 57.6 percent of sales have been lender-mediated foreclosures and short sales and 45.8 percent are below $150,000.
Listing supply is relatively flat with last year at this time over the past few weeks, with an increasing share of new listings being lender-mediated. Traditionally, sellers often pull back at this time of year to wait out the holidays, but banks continue to list no matter what time of year it is.
Wednesday, December 10, 2008
'Extreme Makeover' Winners Face Foreclosure
'Extreme Makeover' Winners Face Foreclosure
One of the most-watched winners on ABC-TV’s "Extreme Makeover: Home Edition" is about to undergo foreclosure.The Nov. 6, 2004, show, which set an "Extreme Makeover" ratings record, featured Judy and Larry Vardon, who are both deaf. The show remodeled their home to accommodate their blind, autistic son Vance, now 16 years old.
The Vardons currently face a monthly house payment of $2,300 and a mortgage rate that has topped 11 percent."Everyone thought the house was paid for," says Gerald Naftaly, the mayor of Oak Park, Mich., where the family lives. "But that wasn't the case. They still had their mortgage. They are just another number with the mortgage company."Vardon, 50, works at Chrysler's Sterling Heights stamping plant. The couple is working with Lighthouse of Oakland County, a nonprofit group that aids families in crisis, to help them negotiate a lower mortgage rate.Source: The Associated Press (12/08/08)
One of the most-watched winners on ABC-TV’s "Extreme Makeover: Home Edition" is about to undergo foreclosure.The Nov. 6, 2004, show, which set an "Extreme Makeover" ratings record, featured Judy and Larry Vardon, who are both deaf. The show remodeled their home to accommodate their blind, autistic son Vance, now 16 years old.
The Vardons currently face a monthly house payment of $2,300 and a mortgage rate that has topped 11 percent."Everyone thought the house was paid for," says Gerald Naftaly, the mayor of Oak Park, Mich., where the family lives. "But that wasn't the case. They still had their mortgage. They are just another number with the mortgage company."Vardon, 50, works at Chrysler's Sterling Heights stamping plant. The couple is working with Lighthouse of Oakland County, a nonprofit group that aids families in crisis, to help them negotiate a lower mortgage rate.Source: The Associated Press (12/08/08)
Tuesday, October 21, 2008
Weekly Market Activity Report Twin Cities
Weekly Market Activity Report
Home sales continued their recent upward streak for the week ending October 11, with pending sales posting a 21.1 percent increase over the same week in 2007. While this doesn't keep pace with the extreme increases seen throughout September, it remains a positive indicator of recent buyer demand. Almost half of the properties bought during the week in question were lender-mediated foreclosures or short sales—47.3 percent, to be exact.
On the supply side, things look decidedly different. New listings declined by 10.0 percent for the same time period comparison and are down 11.5 percent over the last three months. The total supply of active homes for sale sits at 30,495, which is 9.4 percent below this time last year. Inventory should decline through the remainder of the year as traditional home sellers take their homes off the market with greater frequency during the fall and winter months, waiting for the inherent optimism and renewed spirit of spring's thaw.
Weekly Report PDF Graphs
Home sales continued their recent upward streak for the week ending October 11, with pending sales posting a 21.1 percent increase over the same week in 2007. While this doesn't keep pace with the extreme increases seen throughout September, it remains a positive indicator of recent buyer demand. Almost half of the properties bought during the week in question were lender-mediated foreclosures or short sales—47.3 percent, to be exact.
On the supply side, things look decidedly different. New listings declined by 10.0 percent for the same time period comparison and are down 11.5 percent over the last three months. The total supply of active homes for sale sits at 30,495, which is 9.4 percent below this time last year. Inventory should decline through the remainder of the year as traditional home sellers take their homes off the market with greater frequency during the fall and winter months, waiting for the inherent optimism and renewed spirit of spring's thaw.
Weekly Report PDF Graphs
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