Fourth Quarter Existing-Home Sales Surge in Most States, Prices Up in More Areas

Synopsis: Homebuyer tax credit and low interest rates had a positive impact on home sales in the last quarter of 2009. Sales of distressed properties were down 5% over the previous year. The national median sale price for a single family home was 4.1% lower than a year ago, but some areas are seeing double […]

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August 2009 Pending Sales Data

Lawrence Yun, NAR chief economist, discusses the statistical data up to August 2009 and explains what the information is telling us about the market. Video: Key Points: Pending sales are up all over the country. A monthly increase of 6.4% and an annual increase of 12.4%. The disconnect between pending home sales figures and existing […]

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Feeling the Crunch – Will the Tax Credit be Extended?

Many buyers are feeling the deadline crunch and are trying to purchase a house before the November 30th deadline. That’s when the First Time Homebuyer Tax Credit expires, but the deadline is actually much earlier than that.  Here in Michigan, the banks are requiring nearly 45 days to close which puts the deadline for the […]

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First Time Home Buyer Tax Credit Explained

In an effort to stimulate the economy and get the housing market moving, Congress has created a tax credit program that grants first time home buyers up to $8000. Qualification: If you are a first-time home buyer who purchases a home between January 1, 2009 and December 1, 2009. You and your spouse cannot have owned […]

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Good News for First Time Home Buyers and the Housing Market!

An announcement was made at The Real Estate Summit: Advancing the U.S. Economy today that will help people to buy a home. “We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment,” […]

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