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Home Buying 101 Archive


Home Buyers Rush to Take Advantage of Tax Credit Before It’s Gone

RISMEDIA, February 12, 2010—(MCT)—Liv Mansfield is racing the clock, hoping to find and settle, or at least sign a purchase agreement, on a townhouse before the $6,500 tax credit for qualified repeat home buyers expires April 30, 2010. While the credit is not as important as staying in the Wallingford school district, where her younger daughter will enter sixth grade next fall, Mansfield says it will help make expenses associated with the move ‘a wash.’


New Decade Presents New Opportunities in Foreclosure Market

RISMEDIA, February 10, 2010—In this month’s column, I’ll try to answer some of the most frequently asked questions about the foreclosure market. ...


The Avatar Economy

RISMEDIA, February 9, 2010—It looks amazingly real, but it’s as phony as a James Cameron movie set. ...


Number of ‘For Sale’ Homes Increased 2.9 Percent in January 2010 According to ZipRealty Housing Report

RISMEDIA, February 9, 2010—January 2010 marked the first time in 18 months that more homes were listed "for sale" compared to the previous month, with an additional 15,000 homes, or a 2.9% increase, listed for sale compared to December 2009 according to the January Housing Inventory Index, a survey of Multiple Listing Service (MLS) listed homes in 27 major U.S. housing markets conducted by the national real estate brokerage ZipRealty.


First-Time Buyers: Beyond the Mortgage Payment, Brace Yourself for Extra Costs

RISMEDIA, February 8, 2010—(MCT)—On his road to homeownership, Scott Leibfried has learned one thing: Expect the unexpected. He and his wife had an offer accepted on a home, only to later find that foreclosure proceedings were about to begin on it. That's after they considered another home that was aesthetically pleasing but had major issues that came to light upon closer inspection.


Buyers Gain More Negotiating Power in December 2009; Florida, Northeast Buyers Still Bargaining the Most

RISMEDIA, February 8, 2010—For the first time in 11 months, buyers gained some negotiation power in December 2009, according to real estate website Zillow.com. Home buyers negotiated a median 2.7%, or $5,618, off the last listing price of homes sold in December, up slightly from 2.6% or $5,538 ...


3 Factors to Take Into Consideration Before Jumping Into Housing Market

RISMEDIA, February 6, 2010—(MCT)—If you have a good job and good credit, the next few months might be a good time to go house hunting. Fence-sitters take the risk that Congress may let a rich tax credit expire, and that interest rates may rise. Buyers and sellers should consider the following factors as they consider jumping into the housing market.


Will Baby Boomers Lead Housing Industry Toward Recovery?

RISMEDIA, February 5, 2010—(MCT)—Baby boomer buyers fueled a big run-up in U.S. home construction and sales in the 1970s and 1980s. Now beleaguered homebuilders say they're hoping aging boomers, who are just entering retirement age, will once again give them robust housing sales. "We believe this segment of the market is going to lead the housing industry toward recovery as the market turns around," said Sharon Dworkin Bell, a senior staff vice president of the National Association of Home Builders.


Even in Tough Times, 77 Percent of Americans View Homeownership as a Part of Their Own Personal American Dream

RISMEDIA, February 4, 2010—A national survey recently released by real estate leader Trulia shows that many Americans feel that President Barack Obama has not lived up to the hope he created during his campaign and his first 30 days in office. In Trulia's latest American Dream survey conducted online on its behalf by Harris Interactive from January 19-21, 2009, President Barack Obama scored considerably lower marks on the topic of restoring the American dream of homeownership compared to a survey conducted February 20-24, 2009 after his first 30 days in office.


Pending Home Sales Stabilize, Remain above Year-Ago Levels

RISMEDIA, February 3, 2010—Pending home sales have leveled from a market swing driven by response to the home buyer tax credit, according to the National Association of Realtors®. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in December 2009, increased 1.0% to 96.6 from 95.6 in November, and remains 10.9% above December 2008 when it was 87.1. In November, the monthly index had fallen by 16.4% from surging activity in preceding months.


Tax Breaks 101: New Deductions and Credits to Stimulate Economy

RISMEDIA, February 3, 2010—(MCT)—This may be the tax season where even die-hard do-it-yourselfers break down and hire a preparer or at the very least invest in some tax software.


Regional Spotlight: Home Buyer Tax Credit Buoys Bay Area Home Sales as Tighter Inventory, Multiple Bids Nudge Prices Higher

RISMEDIA, February 2, 2010—Despite a dwindling supply of bank REOs and the ongoing presence of cash-rich investors willing to bid up prices, first-time home buyers motivated by an $8,000 federal tax credit available to those who purchased before December 1 dominated the San Francisco Bay Area existing-home market in the fourth quarter, according to an analysis of MLS data issued by the research division of Prudential California Realty.


Strategic Defaults and the Moral Imperative

RISMEDIA, February 2, 2010—Should homeowners be morally obligated to make their mortgage payment? What if they could legally stop paying their mortgage and stay in their house


Economy Forces Changes in Thinking about Retirement Homes

RISMEDIA, January 30, 2010—(MCT)—If your idea of a dream retirement home is a luxury contemporary overlooking a championship golf course in the desert, you better be prepared for some mighty small block parties: When it comes to retirement living, golf courses are out. And Arizona and Florida aren't the only retirement-relocation hot spots these days. In fact, North and South Carolina now top the preferences of baby boomers who will be retiring in the next decade, according to a survey to be released from home builder Del Webb. "How times have changed


4 Major U.S. Demographic Waves to Watch in New Decade

RISMEDIA, January 29, 2010—As the U.S. economy recovers, emerging trends in demographics and consumer behavior will become major drivers of new housing opportunities, resulting in a residential market vastly different from the one that existed prior to the recession, according to Housing in America: The Next Decade, a new research paper authored by John K. McIlwain, senior resident fellow, Urban Land Institute/J. Ronald Terwilliger Chair for Housing.


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