November 11, 2009
- New Home Sales Fall 3.6%
New Home Sales Fall 3.6%
Sales of new homes dropped unexpectedly last month as the effects of the soon-to-expire current tax credit for first-time buyers started to wane.
The Commerce Department said sales fell 3.6% to a seasonally adjusted annual rate of 402,000 from a downwardly revised 417,000 in August. Economists surveyed had expected a pace of [...]
November 10, 2009
- Homebuyer Tax Credit Extended
Homebuyer Tax Credit Extended
The federal government’s first-time homebuyer tax credit was scheduled to expire Nov. 30. The credit, part of the Obama administration-backed economic stimulus package, rewards Americans for buying a home by cutting them a check for 10% of the purchase price up to $8,000.
Analysts attribute close to 20% of home [...]
November 1, 2009
- Real Estate News - November 2009
Real Estate News - November 2009
Our November 2009 Newsletter is now online for you…
From the right Nav Menu, Find "PAGES AND NEWSLETTERS" and Select "November 2009 below "Our Monthly Newsletters".
http://holdenbeachncrealestateandhomes.com/newsletters/2009/november-2009/
October 31, 2009
- 1st Time Home Buyer Tax Credit-Obama Skeptical
1st Time Home Buyer Tax Credit-Obama Skeptical
The Obama administration is still considering whether to back a popular tax credit for first-time homebuyers but is skeptical the United States can pay for it.
The new homebuyer $8,000 tax credit, which will expire at the end of November, has boosted home sales in recent months, helping to revive [...]
October 29, 2009
- Home Builder Confidence Falls
Home Builder Confidence Falls
The National Association of Home Builders said this month's housing market index, which tracks industry confidence, slipped by one point to 18, the first dip since June when the reading fell to 15. The index bottomed at a record-low 8 in January; the index peaked at 72 more than four [...]
October 24, 2009
- Another Housing Bailout on the Way
Another Housing Bailout on the Way
Just as federal officials seek to wind down many bailout programs, the Obama administration has announced yet another initiative to prop up the housing market.
Administration officials unveiled a plan to aid state and local housing finance agencies, which provide mortgages to first-time and lower-income homebuyers and enable the development or [...]
October 16, 2009
- Homebuyer Tax Credit Extended for Service Members
Homebuyer Tax Credit Extended for Service Members
The House of Representatives unanimously passed a bill that calls for a one-year extension of the first time homebuyer tax credit for service members serving overseas.
The bill passed 416-0, and is now in the Senate for consideration.
The bill comes as many in the housing industry are calling for an [...]
October 9, 2009
- New Home Sales Rise Slightly
New Home Sales Rise Slightly
Following four months of solid gains, sales of newly built, single-family homes edged up by less than one percent in August 2009 as the window for an important buyer incentive began to close.
According to data recently released by the U.S. Commerce Department, sales posted a meager 0.7% gain to a seasonally [...]
October 5, 2009
- FHA Delays New Rules
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FHA Delays New Rules
The Federal Housing Administration (FHA) has delayed the implementation of rules that could make life more difficult for condo buyers across the country. The delay should be especially helpful for those hoping to qualify for the first-time buyer tax credit that expires after Nov. 30.
The new [...]
September 23, 2009
- Foreign Buyers Avoiding U.S. Homes
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Foreign Buyers Avoiding U.S. Homes
Despite record U.S. home price affordability, international buyers have been unable to take advantage because of the worldwide recession and credit crunch.
According to a report from the National Association of Realtors (NAR), home sales to foreign clients dropped 9.4% in the year ended in May [...]
September 16, 2009
- Home Sales Increase for 6th Straight Month
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Home Sales Increase for 6th Straight Month
More Americans signed sales contracts to buy homes in July than in June, marking the longest streak of monthly increases on record.
The pending home sales index from the National Association of Realtors rose 3.2% in July after rising by 3.6% in June. That's 12% [...]
August 20, 2009
- 98% Of Mortgages Have Truth in Lending Violations
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98% Of Mortgages Have Truth in Lending Violations
The Consumer Mortgage Audit Center (CMAC) warns consumers of mortgage violations. According to CMAC, the vast majority of mortgage violations tend to be in the form of:
1) Missing documents
2) Bad Good Faith Estimates
3) Bad Truth in Lending Documents
4) Hidden or misrepresented payments and [...]
August 17, 2009
- Home Prices Fall a Record 15.6%
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Home Prices Fall a Record 15.6%
Median home prices fell a record 15.6% during the three months ended June 30, compared to the same period in 2008.
There is some good news though: According to a survey from the National Association of Realtors, the median home price rose 4% compared to the [...]
August 15, 2009
- Pending Home Sales Up for 5th Straight Month
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Pending Home Sales Up for 5th Straight Month
Pending home sales are up for the fifth consecutive month, the first time in six years for such a streak, according to the National Association of Realtors®.
The Pending Home Sales Index a forward-looking indicator based on contracts signed in June, rose [...]
August 11, 2009
- Residential Construction Shows Signs of a Bottom
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Residential Construction Shows Signs of a Bottom
Spending on U.S. construction projects unexpectedly rose in June, led by an improvement in residential real estate and gains in government projects.
Residential construction is showing signs of bottoming. Housing starts unexpectedly rose in June as construction of single-family dwellings jumped by the most [...]
August 10, 2009
- Has the Housing Market Really Hit Bottom?
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Has the Housing Market Really Hit Bottom?
A rash of positive housing data has given some analysts hope that the housing market has bottomed and an economic recovery is underway. But the soaring unemployment and rising mortgage rates could lead to a double-dip plunge for the housing market.
Home prices rose [...]
July 28, 2009
- Housing Inventory Data Points to Stabilization
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Housing Inventory Data Points to StabilizationThe U.S. housing market is showing signs of stabilization. Emeryville, California-based ZipRealty reported a drop in the number of Multiple Listing Service-listed homes for the 12th consecutive month in June.
The number of single-family homes and condos listed for sale decreased in June from May [...]
June 30, 2009
- Mortgage Rates: You May Have Missed the Bottom
Mortgage Rates: You May Have Missed the Bottom
For those waiting until interest rates bottomed out before they either purchased a home, or refinanced the one they're in, it may be too late.
We warned our readers a couple of months ago about the risk involved in trying to time the markets, both from a home buying [...]
June 25, 2009
- Foreclosures Drop in May
Foreclosures Drop in May
The May foreclosure figures are just out, and the number of filings in the U.S. dropped 6%. That means that 1 in every 398 homes received a foreclosure filing in May. Once again, Nevada, California, Florida, and Arizona topped the list of states with the highest foreclosure rates — even though foreclosure [...]
June 24, 2009
- Housing Starts Up in May
Housing Starts Up in May
The nation's builders boosted their production in May, starting new housing units at an annualized rate of 532,000, up 17.2% from the revised estimate of 454,000 in April.
The data release, a monthly report from the Census Bureau, also revealed that building permits jumped by 4% to a rate of 518,000 from [...]
