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C.A.R. Reports February 2010 Median Price Increased 14.1 Percent; Home Sales Decreased 11.7 Percent

RISMEDIA, March 30, 2010—Home sales decreased 11.7% in February 2010 in California compared with the same period a year ago, while the median price of an existing home rose 14.1%, the California Association of Realtors® (C.A.R.)


Top 4 Questions Home Buyers Have About the Tax Credit

RISMEDIA, March 29, 2010—As the April 15 deadline to file 2009 federal tax returns approaches, the National Association of Home Builders (NAHB) is providing answers to some of the questions home buyers are most frequently asking about the home buyer tax credit. “NAHB’s website that provides information about the home buyer tax credit, www.FederalHousingTaxCredit.com, has received more than 8 million visits,” said NAHB Chairman Bob Jones, a builder and developer in Bloomfield Hills, Mich.


8 Tips to Take Advantage of the Home Buyer Tax Credit before Time Runs Out

RISMEDIA, March 27, 2010—RE/MAX agents report that the home buyer tax credit currently can deliver meaningful savings, but only for those who, at a minimum, have a binding contract to purchase a home in place on April 30, 2010. With that deadline bearing down, potential buyers who want to capture the tax credit had better get serious about home shopping.


New-Home Sales Decline in February 2010

RISMEDIA, March 26, 2010—Sales of newly built, single-family homes fell 2.2% in February 2010 to a seasonally adjusted annual rate of 308,000 units, the Commerce Department recently reported. While this figure marked


Regional Spotlight: Metro Chicago Real Estate Market Saw More Homes Sell More Quickly in February 2010

RISMEDIA, March 25, 2010—Home sales in the seven-county metropolitan Chicago real estate market continued to rebound in February 2010 with the number of attached and detached homes sold 30.5% higher than in February


Home Affordable Foreclosure Alternatives Program on Pace to Increase Real Estate Sales

RISMEDIA, March 25, 2010—Joe Moshe, Broker/Owner, Charles Rutenberg Realty, says the Home Affordable Foreclosure Alternatives (HAFA) program will help stabilize the residential real estate market by allowing the short sale process to move forward more easily. This, in turn, will benefit real estate agents as they perform more short sale closings and homeowners who are attempting to stave off foreclosure.


3 Reasons Why Those Who Don’t Buy Now Might Regret It Later

RISMEDIA, March 24, 2010—Buying a home is one of the biggest decisions an individual can make. So it’s understandable that one considering a home purchase may take their time to avoid rushing into such a large financial commitment. However, several factors might leave prospective home buyers who don’t purchase a property now wishing they had taken action sooner.


Fixer-Upper Financing: 203k Program Provides Buyers with Renovation Funds

RISMEDIA, March 27, 2010—(MCT)—The word "as-is" can indeed be one scary phrase. Especially when buying a home in today's market where foreclosures and short sales that need fix-up work are plentiful. But a little-known Federal Housing Administration (FHA) loan program that's been around since 1978 can help take the sting out of "as-is." Only 219 borrowers took advantage of the FHA's 203k program in 2009. Not that many lending and real estate professionals are aware of the program, say observers. Last year, Tom Meyer found a classic Oakland, Calif., home built in 1925 near Mills College he liked a lot.


Mortgage Rates Could Spike as Federal Reserve Program Expires

RISMEDIA, March 20, 2010—(MCT)—As the spring real estate season kicks in and the tax credit deadline for sale agreements approaches, the government is ending a program that has kept interest rates low


Single-Family Starts Hold Firm in February 2010

RISMEDIA, March 18, 2010—The pace of single-family home production remained virtually unchanged in February 2010, with a 0.6% decline to a seasonally adjusted annual rate of 499,000 units, according to figures recently released by the U.S. Commerce Department. Meanwhile, a large decline on the more volatile multifamily side brought the overall number of housing starts down 5.9% to a seasonally adjusted annual rate of 575,000 units.


Study Shows More Immigrants Buying Homes in Mid-Size Cities

RISMEDIA, March 16, 2010—In the first study of immigrants buying homes in mid-size areas across the United States, researchers at the University of Southern California Lusk Center for Real Estate showed


Pending Home Sales Down; Severe Weather Impacting Market

RISMEDIA, March 10, 2010—Pending home sales are down and additional declines are expected from abnormal weather conditions, according to the National Association of Realtors®. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in January 2010, fell 7.6% to 90.4 from an upwardly revised 97.8 in December, but remains 12.3% higher than January 2009 when it was 80.5. Lawrence Yun, NAR chief economist, said weather is likely to impact housing data. "January pending sales, though still higher than one year ago, remain much lower than expected given that a large number of potential buyers are eligible


Buyers Shift More Firmly into Driver’s Seat during January 2010

RISMEDIA, March 8, 2010—For the second month in a row, home buyers across much of the country negotiated bigger discounts off the last listing price of homes than they had the prior month,


Home Sales Dip in January 2010

RISMEDIA, March 8, 2010—(MCT)—In another sign that the foundation of the U.S. housing recovery might be shaky, the number of homes placed under sales contract fell 7.6% in January 2010, according to a national index. ...


New GFE and HUD-1 Settlement Statement to Create More Transparent Lending Process

RISMEDIA, March 6, 2010—Not only did we turn over a new year on January 1, 2010, but the U.S. Department of Housing and Urban Development (HUD) ushered in monumental and mandatory changes to the Good Faith Estimate (GFE) and HUD-1 settlement statement (HUD-1). The intent behind these changes is to make the lending process more transparent by providing settlement and loan information in a way that will allow borrowers to more easily shop loans and compare charges.


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