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Home Buying 101 Archive
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 snake-bit by homeownership that he doubts he'll ever buy again. "It was the American Dream. Now I could care less if I ever deal with a bank again," said Baldwin, who lives in Ocoee, Fla., not far from Orlando. “What I went through was an absolute nightmare.”
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 Realtors. The Pending Home Sales Index, a forward-looking indicator, declined 2.6% to 75.7 based on contracts signed in June 2010 from an upwardly revised level of 77.7 in May, and is 18.6% below June 2009 when it was 93.0. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.
RISMEDIA, August 3, 2010—(MCT)—The 4.5% fixed-rate mortgage is here, although more than 14 months late. That magic number, or a close approximation, was reached recently, when Freddie Mac reported a 30-year rate of 4.54%. The possibility first arose in early 2009, when the government began mass-purchasing mortgages from Fannie Mae and Freddie Mac to prop up housing. Just about everyone predicted the rates would hit what builders and real estate agents call a "sweet spot" in a few months, and the housing recovery would begin, especially if consumer confidence had recovered to prerecession levels as well.
RISMEDIA, August 2, 2010—The economy is stabilizing and home prices are holding. It's not just as good a time as ever to buy a house—it's one of the best times ever. ...
RISMEDIA, July 30, 2010—A wide array of organizations including the American Land Title Association, the National Association of Realtors, AFSCME, Vote Vets, the Center for Responsible Lending, the Property Rights Alliance and the Institute for Liberty recently launched The Coalition to Stop Wall Street Home Resale Fees with an appeal ...
RISMEDIA, July 29, 2010—Reflective of the real estate buyers’ market conditions in many regions in the U.S., satisfaction with real estate companies among home buyers has improved from 2009, while satisfaction among home sellers has declined,
RISMEDIA, July 29, 2010—After getting the keys to their new homes, many first-time home buyers are excited about finally having the opportunity to personalize and furnish their new house. From coffee tables to lamps to lawnmowers, many previous renters leap
RISMEDIA, July 29, 2010—The Obama Administration recently announced expanded opportunities for public engagement on the future of our nation’s housing finance system, including Fannie Mae and Freddie Mac. These events, which will include a major
RISMEDIA, July 28, 2010—The van line community lost a lot of drivers during the economic downturn, and that is creating a backlog this summer as van lines are unable to keep up with demand. In some cases, families are being put on wait lists for up to two months. That can be a pretty stressful situation...especially if a deal can fall through because the homeowners weren't able to vacate by close date.
RISMEDIA, July 28, 2010—Coming off an historic low in May, sales of newly built, single-family homes rose 23.6% to a seasonally adjusted annual rate of 330,000 units in June 2010, according to U.S. Commerce Department data.
RISMEDIA, July 27, 2010—The Home Buyer Tax Credit proved to be a valuable stimulus to the troubled U.S. housing industry. The only catch: those who qualified had to be under contract by April 30, 2010, and close by June 30 (editor’s note: at press time, the federal government had extended this closing deadline to September).
In the months leading up to the contract deadline, existing home sales increased steadily and, according to NAR data released in May, they jumped 7.6% from March to April, showing a 22.8% increase from April 2009 figures.
RISMEDIA, July 27, 2010—Despite slowdowns in home sales across the country, California is still the nation’s hottest spot for home buying activity, with homes fetching multiple offers and selling above list price, according to the Q2 2010 Home Hunter report
RISMEDIA, July 30, 2010—The restoration of the single-family rural housing program that would guarantee home loans for rural buyers was passed by the Senate and is on its way to President Obama. ...
RISMEDIA, July 26, 2010—(MCT)—David Kosowski has a full-time job, a sky-high credit score, a solid debt-to-income ratio and enough cash stashed away to put a 20% down payment on the three-bedroom, two-bath home he's had his eye on since spring.
RISMEDIA, July 23, 2010—With the scheduled closing deadline for the home buyer tax credits, existing-home sales slowed in June 2010 but remained at relatively elevated levels, according to the National Association of Realtors.
