Daily Real Estate News | May 24, 2010 | Share Owners Optimistic About Home Values More than 16 percent of home owners say their houses increased in value during the past year, the highest percentage in nearly two years, according to a Thomson Reuters/University of Michigan survey. While 75 percent of home owners viewed current home-buying conditions as [...]
Existing-home sales rose again in April
Daily Real Estate News | May 24, 2010 | Share Existing-Home Sales Up 7.6% in April Existing-home sales rose again in April with buyers motivated by the tax credit, improving consumer confidence, and favorable affordability conditions, according to the NATIONAL ASSOCIATION OF REALTORS®. Existing-home sales — completed transactions that include single-family, townhomes, condos, and co-ops — increased 7.6 [...]
5 common mistakes – Why isn't my home selling?
Have you ever gone past a house with a For Sale sign on it? Then ten weeks later you happen to drive by that same house and notice the sign is still there. It looks like a nice home, other homes in the area have sold. What is wrong with this picture? Why hasn’t that [...]
Calculating the mortgage delinquency impact on FICO scores
Recently, Fair Isaac, which developed FICO scores, pulled back the curtain a bit, revealing some estimates of point-score declines following mortgage delinquency problems. Here are the average hit your credit will take: 30 days late: 40 – 110 points 90 days late: 70 – 135 points Foreclosure, short sale or deed-in-lieu: 85 – 160 Bankruptcy: [...]
A good time to buy? Yes, but no need to rush
Many housing economists have said that for borrowers with stable incomes, good credit history, and FICO scores of at least 620, now is an opportune time to purchase a home. Although inventory rates are below the long-run average, there still are plenty of options available for buyers of high-end homes. Consumers trying to time the [...]
What do buyers want in a home? Survey offers clues
A recent study of more than 22,000 homeowners who bought their homes within the last nine years found that current homeowners plan to be “more practical” in their next purchase, focusing on livable space rather than unnecessary upgrades. Many of the luxury amenities once considered necessities among home buyers, such as community clubhouses, dog parks, [...]
California won’t tax forgiven home debt
Governor Schwarzenegger on Monday signed SB 401 (Wolk) into law providing distressed homeowners with state tax exemption on debt forgiven in a short sale, foreclosure, or loan modification. SB 401 generally aligns California’s treatment of taxes on forgiven mortgage debt with that of federal law. For debt forgiven on a loan secured by a “qualified [...]
What you should know about the market
Home buyers waiting for a mortgage loan to fund are advised to be conservative when it comes to buying new furniture, appliances, or the like for the house they are purchasing. It has become standard practice for lenders to check borrowers’ credit scores in the weeks leading up to the closing, sometimes even the day [...]
Should you buy or rent a home? Cost gap narrows
Affordable home prices and low interest rates have created an ideal time for many buyers to purchase homes, and now a new week-long look at homeownership confirms it. The national study, conducted for The Associated Press, shows that the difference between monthly rents and mortgage payments is at its lowest level in nearly 20 years. [...]
Home Sales Boosted By Homebuyer Tax Credit
Buyers responding to the homebuyer tax credit and favorable affordability conditions boosted existing-home sales in March, marking the beginning of an expected spring surge, according to the National Association of Realtors®. Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, rose 6.8% to a seasonally adjusted annual rate of 5.35 million [...]
Recent Comments