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Home Buying 101 Archive


Exceeding Expectations, Pending Home Sales Rise 5.2%

RISMEDIA, September 3, 2010—Following a sharp drop in the months immediately after the expiration of the home buyer tax credit, pending home sales have modestly risen, according to the National Association of Realtors. ...


FHA Gives Home Buyers One Month Window to Lock in Low Insurance Premium

RISMEDIA, September 2, 2010—“The Federal Housing Administration (FHA) is giving homeowners and buyers until October 4, 2010 to lock in a low monthly insurance premium,” said Gibran Nicholas, chairman of the CMPS Institute, an organization that trains and certifies mortgage bankers and brokers. “After October 4, the monthly insurance premiums ...


Appraisal Institute’s New Guide to Home Buying Offers Uniquely Unbiased View

RISMEDIA, August 31, 2010—A home buying guide published recently by the Appraisal Institute teaches home buyers when to buy, how to find a real estate agent, how to choose the best home on the market and more—all from the uniquely ...


Home Buyers Are Ready to Move from the Sidelines: Survey

RISMEDIA, August 30, 2010—Are more Americans positioning themselves for home purchase? Although May’s data showed that home sales were down 26.8% as the home buyer tax credit concluded, a new survey conducted by Relocation.com suggests some families are opting for renting while they research—cash in hand—for deals on a new, ...


Some Homebuyers Are Holding Back, but Market offers Bright Spots Too

RISMEDIA, August 27, 2010—(MCT)—Everywhere you look, July was not ideal for real estate—that's one thing on which the economists and the statistics agree. Sales figures released recently for the first month in 19, not invigorated by government tax credits, offered ...


Obama Administration Housing Scorecard Shows Continued Progress in Housing Market, but Challenges Remain

RISMEDIA, August 23, 2010—The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury has released the August edition of the Obama Administration’s Housing Scorecard (www.hud.gov/scorecard), a comprehensive report on the nation’s housing ...


New Rules Limit Too-Low Estimates of Closing Costs

RISMEDIA, August 20, 2010—(MCT)—Facing new penalties if they lowball estimates of upfront mortgage costs, lenders and brokers appear to be coming clean about how much borrowers will pay. As a result, the so-called good-faith estimates that mortgage providers must give ...


Harvard Researcher Shares Insights on Housing Comeback

RISMEDIA, August 19, 2010—(MCT)—As director of the Joint Center for Housing Studies at Harvard, Nicolas Retsinas has had a front-row seat for the real estate market’s dramatic boom and bust. After 12 years at the center, Retsinas left the director’s ...


‘Fundamental Change’ for Fannie and Freddie, Geithner Says

RISMEDIA, August, 18, 2010—(MCT)—With sweeping financial reform legislation enacted, the White House and Congress now must focus on fixing the mess created by the failed housing finance giants Fannie Mae and Freddie Mac. It's a complex challenge with high stakes ...


Housing Starts Rise 1.7 Percent in July

RISMEDIA, August 18, 2010—Nationwide housing starts inched up 1.7 percent to a seasonally adjusted annual rate of 546,000 units in July from a downwardly revised figure in the previous month, according to U.S. Commerce Department figures released today. The gain occurred entirely on the multifamily side, with single-family housing production ...


The Year of the Short Sale: 7 Tips to Finding Your New Home at Discount

RISMEDIA, August 17, 2010—Real estate professionals nationwide are calling 2010 “the year of the short sale,” where homeowners who owe more on their properties than what they are worth sell at deeply discounted prices—with the blessing of their lender. ...


What State Has Highest Closing Costs? Bankrate.com Releases 2010 Closing Costs Survey

RISMEDIA, August 17, 2010—A new study released by Bankrate, Inc. reveals that the costs associated with buying a home may are on the rise. Bankrate's 2010 Closing Costs Survey reveals that the average origination and title fees on a $200,000 mortgage this year totaled $3,741, up from $2,732 in 2009. ...


How Important Changes to Mortgage Underwriting May Affect Many Buyers

RISMEDIA, August 9, 2010—The real estate industry and especially the mortgage industry have been overwhelmed with changes, regulations and consolidations recently. In the last couple of months, many transactions nationally have experienced delayed closings or worse as a result of ...


Homeowners Continue to Chase the ‘American Dream’

RISMEDIA, August 6, 2010—(MCT)—Bruce Baldwin is well past the "extreme excitement" he felt when he became a first-time homeowner three years ago. In fact, the cabinetmaker has now joined thousands of homeowners who face foreclosure. He says he feels so ...


Pending Home Sales Ease in Post-Tax Credit Market

RISMEDIA, August 5, 2010—Pending home sales edged down with near-term sales expected to be notably lower in contrast to the spring surge when buyers rushed to take advantage of the home buyer tax credit, according to the National Association of ...