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Home Buying 101 Archive
RISMEDIA, May 28, 2010—Single-family home sales in Massachusetts spiked 45.8% in April 2010 compared to the same month a year ago, while condominium sales soared 55.7%, according to The Warren Group, publisher of Banker & Tradesman.
RISMEDIA, May 27, 2010—The road toward homeownership was a bit more difficult than self-proclaimed “country boy” Ronald Black thought it would be. He began his home search last summer in Polk County, Florida, a more rural community
RISMEDIA, May 26, 2010—Existing-home sales rose again in April 2010 with buyers motivated by the tax credit, improving consumer confidence and favorable affordability conditions, according to the National Association of Realtors.
Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 7.6% to a seasonally adjusted annual rate of 5.77 million units in April from an upwardly revised 5.36 million in March, and are 22.8% higher than the 4.70 million-unit pace in April 2009. Monthly sales rose 7.0% in March.
RISMEDIA, May 26, 2010—Even though the home buyer tax credit expired on April 30, 2010 and won’t be renewed, there may never be a better time to buy a home than today, according to the National Association of Home Builders (NAHB). Many outstanding opportunities still exist for home buyers, but ...
RISMEDIA, May 25, 2010—Those who missed taking advantage of the first-time buyer tax credit but who are still planning the purchase of their first home, continue to have a wealth of opportunities in today’s marketplace. A few smart steps can save first-time buyers thousands of dollars. Here is a look at some of the ways how:
RISMEDIA, May 25, 2010—The Illinois housing market saw positive indicators nearly across the board in April 2010 with upward momentum in home prices and sales jumping 34.4% on the heels of the home buyer tax credit deadline. ...
RISMEDIA, May 24, 2010—Economists participating in a recent NAHB Construction Forecast Conference Webinar agreed that the housing market is on the road to recovery, but cautioned that several factors could contribute to a bumpy ride in the coming months.
“Home buyer tax credits clearly did their job and got people back into the marketplace,” said NAHB Chief Economist David Crowe, who also served as moderator of the webinar.
With the expiration of the tax credits in April, Crowe said the housing momentum is being carried forward by low interest rates, pent up household formations, stabilizing prices and budding employment growth.
RISMEDIA, May 20, 2010—Nationwide housing starts rose 5.8% to a seasonally adjusted annual rate of 672,000 units in April 2010 as the deadline for an important home buyer tax incentive arrived, according to figures released by the U.S. Commerce Department.
“While some of the starts activity noted in the report reflected homes for which buyers had just signed a contract at the tail-end of the tax credit program, the rest was probably tied to builders replenishing their inventories in preparation for the post-tax credit era,” said Bob Jones, Chairman of the National Association of Home Builders (NAHB) and a home builder from Bloomfield Hills, Mich.
RISMEDIA, May 17, 2010—Redfin has released new data on the San Francisco Bay Area market showing that the median price of a Bay Area single-family home increased 5.5% from March to April. In Marin County, prices for single-family homes
RISMEDIA, May 7, 2010—The median price for a single-family home in Connecticut increased 8.1% in March 2010 compared to a year ago, while sales of single-family homes and condominiums surged by double-digit percentages,
RISMEDIA, May 5, 2010—Pending home sales increased again in March 2010, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of Realtors®. The Pending Home Sales Index (PHSI) forward-looking indicator based on contracts signed in March, rose 5.3% to 102.9 from 97.7 in February, and is 21.1% above March 2009 when it was 85.0; this follows an 8.3% increase in February. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.
RISMEDIA, May 3, 2010—While the Federal “First Time Home Buyer Tax Credit” expired on April 30, 2010, Prudential Florida Realty, in conjunction with Florida Home Finance Group, an affiliate of Wells Fargo Home Mortgage, is picking up where the Federal Government left off. They are proud to offer “The Home Buyer Mortgage Credit,” which includes incentives for all buyers to achieve the dream of homeownership in Florida.
RISMEDIA, May 1, 2010—(MCT)—As a consumer with good credit and a 10-year history of paying his mortgage on time, Ed McLaughlin expected that his record would put him in good stead with his bank.
But when he approached his lender, Charlotte, N.C.-based Bank of America, about refinancing his existing mortgage or qualifying for a new loan, McLaughlin felt like a brand-new customer just off the street.
RISMEDIA, April 29, 2010—The expiration of the 2010 Home Buyer Tax Credits on April 30 is unlikely to put off Americans looking to purchase homes who believe now is a good time to buy and are confident that home prices will rise according to a survey released by Prudential Real Estate and Relocation Services, Inc., a Prudential Financial, Inc. company. The survey of 1,000 Americans between the ages of 25-64 with at least $35,000 household income was conducted during April 15-20, 2010.
More than 90% of consumers believe that the home buyer tax credits have helped both first-time home buyers and the U.S. housing market overall.
RISMEDIA, April 29, 2010—With many buyers rushing to take advantage of the federal home-buyer tax credit set to expire on April 30, sales of newly built single-family homes surged 26.9% in March to a seasonally adjusted annual rate of 411,000 units, the Commerce Department recently reported. Sales increases were posted ...
