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Will the current $8,000 tax credit for first-time homebuyers and the $6,500 tax credit for second-time buyers end this month? if so will that also mean the end for the housing recovery?
It’s a toss-up, say pro-tax credit-leaning advocates. But the program will continue through the end of this year, or at the least, for another [...]
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Last year there were 2.82 million foreclosures, the most since RealtyTrac began compiling data in 2005. Some Analysts expect more than 4.5 million filings are expected this year. There is little doubt among analysts that foreclosures will top 3 million this year.
“As bad as the 2009 numbers are, they probably would have been worse [...]
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The U.S. Treasury Department released a plan intended to speed up and encourage the short sale process.
A short sale is the final step a homeowner may take before giving up on a house and letting it slide into foreclosure. However, in the past the foreclosure process has been time consuming and has not delivered the desired results. [...]
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The fastest growing home loan on the market is the FHA 203k. in 2008 there were 10,000 FHA 203k loans, this year there will be 80,000 and next year estimates are over 500,000 FHA 203k loans will be processed. What is this loan? and do you qualify? read the FAQ below.
What is an FHA 203k [...]
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In a surprise move, Fannie Mae announced it will begin allowing homeowners facing foreclosure to rent back their homes for up to one year. This program allows homeowners to pay market value for rent, a sum typically lower than the price they are currently paying for their mortgage.
“The Deed for Lease Program provides an additional option for [...]
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If you were one of the many Americans, holding your breath in hopes that the New Homebuyer tax credit would be extended, your wait it over. Many had predicted that the highly successful tax credit would be extended, but last week congress made it official and changed the deadline to April 30, 2010. This [...]
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Breaking news in the real estate community. This week Gabrielle Harrison the VP of REO sales for Fannie Mae, and Ingrid Beckles the Default Asset Manager at Freddie Mac announced an overhaul to the short sale process at the two companies.
A crowded room at the 5 Star Conference this week erupted as Gabriele Harrison [...]
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By now most Americans are aware of the 8,000 dollar tax credit offered by the federal government for first time home buyers. This is a dollar for dollar credit that will be payed out on your tax return the following year. So if you are a first time home buyer and close on your house [...]
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The housing market in the greater phoenix area is turning many homeowners into investors. The chart below shows that phoenix is currently ranked 3rd in the number of homes sold in the last 9 years. This is a telling sign of what many investors already know, the inventory levels of homes priced at $350,000 [...]
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The housing bust in recent years has not only driven prices down, but also substantially lowered the number of houses that are sold on a monthly basis. In response to the steep decline in transactions real estate agencies are cutting back services and leaving more of the work to be done by the clients themselves. However [...]
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