November 16, 2009
- Home Prices Bottoming Out?
Home Prices Bottoming Out?
The bleeding in the housing market seems to be slowing, at least temporarily, according to home price data released recently.
Most U.S. cities saw gains in the median price of single-family homes sold during the three months ended Sept. 30, according to the National Association of Realtors' quarterly report on home prices. This [...]
November 7, 2009
- New Home Sales Fall 3.6%
New Home Sales Fall 3.6%
Sales of new homes dropped unexpectedly last month as the effects of the soon-to-expire current tax credit for first-time buyers started to wane.
The Commerce Department said sales fell 3.6% to a seasonally adjusted annual rate of 402,000 from a downwardly revised 417,000 in August. Economists surveyed had expected a pace of [...]
November 5, 2009
- Homebuyer Tax Credit Extension Crucial
Homebuyer Tax Credit Extension Crucial
The federal government’s first-time homebuyer tax credit is scheduled to expire Nov. 30. The credit, part of the Obama administration-backed economic stimulus package, rewards Americans for buying a home by cutting them a check for 10% of the purchase price up to $8,000.
Analysts attribute close to 20% of home sales nationally [...]
November 1, 2009
- Real Estate News - November 2009
Real Estate News - November 2009
Our November 2009 Newsletter is now online for you…
From the right Nav Menu, Find "PAGES AND NEWSLETTERS" and Select "November 2009 below "Our Monthly Newsletters".
http://sanfranciscorealestateandhomes.com/our-newsletters/2009/november-2009/
October 30, 2009
- Another Housing Bailout on the Way
Another Housing Bailout on the Way
Just as federal officials seek to wind down many bailout programs, the Obama administration has announced yet another initiative to prop up the housing market.
Administration officials unveiled a plan to aid state and local housing finance agencies, which provide mortgages to first-time and lower-income homebuyers and enable the [...]
October 24, 2009
- Home Builder Confidence Falls
Home Builder Confidence Falls
The National Association of Home Builders said this month's housing market index, which tracks industry confidence, slipped by one point to 18, the first dip since June when the reading fell to 15. The index bottomed at a record-low 8 in January; the index peaked at 72 more than four years ago.
Builders [...]
October 12, 2009
- Homebuyer Tax Credit Extended for Service Members
Homebuyer Tax Credit Extended for Service Members
The House of Representatives unanimously passed a bill that calls for a one-year extension of the first time homebuyer tax credit for service members serving overseas.
The bill passed 416-0, and is now in the Senate for consideration.
The bill comes as many in the housing industry are [...]
October 11, 2009
- New Home Sales Rise Slightly
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New Home Sales Rise Slightly
Following four months of solid gains, sales of newly built, single-family homes edged up by less than one percent in August 2009 as the window for an important buyer incentive began to close.
According to data recently released by the U.S. Commerce Department, sales posted a [...]
September 30, 2009
- FHA Delays New Rules
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FHA Delays New Rules
The Federal Housing Administration (FHA) has delayed the implementation of rules that could make life more difficult for condo buyers across the country. The delay should be especially helpful for those hoping to qualify for the first-time buyer tax credit that expires after Nov. 30.
The new [...]
September 19, 2009
- Foreign Buyers Avoiding U.S. Homes
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Foreign Buyers Avoiding U.S. Homes
Despite record U.S. home price affordability, international buyers have been unable to take advantage because of the worldwide recession and credit crunch.
According to a report from the National Association of Realtors (NAR), home sales to foreign clients dropped 9.4% in the year ended in May [...]
September 18, 2009
- Home Sales Increase for 6th Straight Month
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Home Sales Increase for 6th Straight Month
More Americans signed sales contracts to buy homes in July than in June, marking the longest streak of monthly increases on record.
The pending home sales index from the National Association of Realtors rose 3.2% in July after rising by 3.6% in June. That's 12% [...]
August 23, 2009
- Home Prices Fall a Record 15.6%
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Home Prices Fall a Record 15.6%
Median home prices fell a record 15.6% during the three months ended June 30, compared to the same period in 2008.
There is some good news though: According to a survey from the National Association of Realtors, the median home price rose 4% compared to the [...]
August 16, 2009
- 98% Of Mortgages Have Truth in Lending Violations
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98% Of Mortgages Have Truth in Lending Violations
The Consumer Mortgage Audit Center (CMAC) warns consumers of mortgage violations. According to CMAC, the vast majority of mortgage violations tend to be in the form of:
1) Missing documents
2) Bad Good Faith Estimates
3) Bad Truth in Lending Documents
4) Hidden or misrepresented payments and [...]
August 11, 2009
- Pending Home Sales Up for 5th Straight Month
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Pending Home Sales Up for 5th Straight Month
Pending home sales are up for the fifth consecutive month, the first time in six years for such a streak, according to the National Association of Realtors®.
The Pending Home Sales Index a forward-looking indicator based on contracts signed in June, rose [...]
August 9, 2009
- Has the Housing Market Really Hit Bottom?
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Has the Housing Market Really Hit Bottom?
A rash of positive housing data has given some analysts hope that the housing market has bottomed and an economic recovery is underway. But the soaring unemployment and rising mortgage rates could lead to a double-dip plunge for the housing market.
Home prices rose [...]
August 6, 2009
- Residential Construction Shows Signs of a Bottom
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Residential Construction Shows Signs of a Bottom
Spending on U.S. construction projects unexpectedly rose in June, led by an improvement in residential real estate and gains in government projects.
Residential construction is showing signs of bottoming. Housing starts unexpectedly rose in June as construction of single-family dwellings jumped by the most [...]
July 24, 2009
- Housing Inventory Data Points to Stabilization
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Housing Inventory Data Points to Stabilization
The U.S. housing market is showing signs of stabilization. Emeryville, California-based ZipRealty reported a drop in the number of Multiple Listing Service-listed homes for the 12th consecutive month in June.
The number of single-family homes and condos listed for sale decreased in June from May [...]
July 9, 2009
- Mortgage Rates: You May Have Missed the Bottom
Mortgage Rates: You May Have Missed the Bottom
For those waiting until interest rates bottomed out before they either purchased a home, or refinanced the one they're in, it may be too late.
We warned our readers a couple of months ago about the risk involved in trying to time the markets, both from a home buying [...]
June 21, 2009
- Foreclosures Drop in May
Foreclosures Drop in May
The May foreclosure figures are just out, and the number of filings in the U.S. dropped 6%. That means that 1 in every 398 homes received a foreclosure filing in May. Once again, Nevada, California, Florida, and Arizona topped the list of states with the highest foreclosure rates — even though foreclosure [...]
June 7, 2009
- Existing Home Sales Increase
Existing Home Sales Increase
The National Association of Realtors announced recently that existing home sales in April increased 2.9 percent as compared to March 2009. While home sales were up, the inventory of unsold homes also rose 8.8 percent to 3.97 million units, representing a 10.2 month supply.
April’s improvement in existing home sales would seem to [...]
