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Home Buying 101 Archive


‘Real Deadline’ for First-Time Homebuyer Tax Credit is Mid-October at the Latest

RISMEDIA, October 5, 2009—Those interested in taking advantage of the First-Time Homebuyer Tax Credit must realize that the much-publicized November 30th deadline is for the closing date (i.e., the day keys are officially handed over). However, the list of customary closing requirements- ranging from mortgage approvals and appraisals to home ...


Short Sales Spread across Real Estate Market, Leaving Frustration in Their Wake

RISMEDIA, September 26, 2009—(MCT)—A few years ago, few people in the housing market had ever heard of a short sale. Mention the term today and people, whether they are homeowners or real estate agents, just roll their eyes. The practice, which involves selling a property for less than the amount owed on the mortgage, has grown in popularity as an exit strategy for financially strapped homeowners because it doesn't ding a credit report as deeply as a foreclosure. But because the transactions have to be approved by first and second lien holders,


18% of Prospective First-Time Home Buyers Say Extending $8,000 Tax Credit Would be Primary Influence on Decision to Buy

RISMEDIA, September 25, 2009—Nearly one in five (18%) prospective first-time home buyers said extending the $8,000 tax credit would be the primary influence on their decision to buy a home before the end of 2010, according to a Zillow survey. That would equate to 334,000 buyers from Dec. 1, 2009 to Nov. 30, 2010 - a likely time period for an extension, according to additional analysis.


Moving Decisions: One Down, Hundreds to Go

RISMEDIA, September 24, 2009—Making the decision to move to a new state is just the tip of the iceberg for your clients. Then the real work begins as they’re faced with


Appraisal Institute Applauds FHA for Removing Cap on Appraiser Fees

RISMEDIA, September 23, 2009—The Appraisal Institute, one of the nation’s largest organizations of real estate appraisers celebrated a significant victory


Single-Family Starts Ease as Credit Deadline Looms

RISMEDIA, September 22, 2009—Production of new single-family homes slowed in August 2009 as the expiration date for an important buyer incentive drew nearer, according to figures recently released by the U.S. Commerce Department. While overall housing starts rose 1.5% to a seasonally adjusted annual rate of 598,000 units for the month, single-family starts declined 3% to a rate of 479,000 units, ending what had been a five-month run of improvements.  “With the $8,000 first-time home buyer tax credit set to expire at the end of November,


Regional Spotlight: New Home Price Stability Emerges in California

RISMEDIA, September 22, 2009—According to the John Burns Real Estate Consulting September survey of home builders, the housing market is stabilizing,


July 2009 Data Shows Continued Improvement in Home Value Trends

RISMEDIA, September 21, 2009—Home values continued to show encouraging signs according to new data released in Zillow.com Real Estate Market Reports


Home Buyers Want to Save Energy – but Only at Right Price

RISMEDIA, September 19, 2009—Even though prospective home buyers want the benefits of new, more efficient homes, they are unwilling to pay much more for a “green” home, according to a recent member survey from the National Association of Home Builders (NAHB).  “Although we are seeing significant interest in green building, cost effectiveness is clearly a key concern among home buyers,” said NAHB Chairman Joe Robson, a home builder and developer in Tulsa, Okla. “Builders said that among buyers


Top 12 Tips for Buying an Investment Property

RISMEDIA, November 13, 2009—Christine Van Tuyl and Margaret La Grange, an award-winning mother-daughter team with Prudential California Realty in Coronado


The Clock Is Ticking as First-Time Buyers Intensify Their House Hunting

RISMEDIA, September 18, 2009—(MCT)—Tired of paying rent and enticed by a first-time home buyer tax credit, 25-year-old Garrett Rebel began his search for a home in August, scouring the suburbs of Dallas for a house to meet his current and future needs. And he's already running out of time.  The federal tax credit for first-time buyers is "a huge motivator" for Rebel, and he may end his search if the Nov. 30 deadline arrives and he still hasn't closed on a deal.


Today’s Featured Listing – Recipe for an Exceptional Home: Location, Cachet, Space, Quality, and Warmth

RISMEDIA, September 18, 2009—If you’re looking for a timeless expression of new colonial style, luxury and quality, this is your home. An exceptional house with 7,200 sq. ft.


Home Price Reduction Levels Rise for Fourth Straight Month

RISMEDIA, September 16, 2009—Trulia, Inc., a leading place to start your real estate search, announced that 26% of homes currently on the market in the United States


Realogy CEO Richard Smith Urges First-Time Homebuyer Tax Credit Expansion

RISMEDIA, September 16, 2009—Realogy CEO Richard Smith appeared on Fox Business Network earlier this week to discuss the state of the housing market


Taking Advantage of Negotiation – U.S. Homebuyers Paid $7,039 Less Than Listing Price in July

RISMEDIA, September 15, 2009—Amid continued falling home prices, U.S. homebuyers are negotiating even more discounts at the bargaining table, according to July's Zillow Real Estate Market Reports. Buyers paid 3.3%, or a nearly $7,039, less than the last listing price on homes for sale during the month of July 2009. That is down slightly from 3.5%, or $7,630, in June, and substantially down from 4.6% ($10,260) in January.


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