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Real Estate News News From the World Of Real Estate
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From our friends at Realtor.com
Existing-home sales bounced back strongly in September with first-time buyers driving much of the activity, marking five gains in the past six months, according to the National Association of REALTORS®. (more…)
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From our friends at Realtor.com
Consumers are just starting to see the first glimmers of a bright future for the housing market and the overall economy. It’s up to Congress to make that glimmer a reality by building on the momentum created by the $8,000 home buyer tax credit. (more…)
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From our friends at Realtor.com
All the leading indicators say housing is definitely on the mend, economists reported in advance of the official release of several pieces of good news expected this week.
Bloomberg News surveyed 53 economists and asked them where they expected the numbers to fall. Here are their predictions: (more…)
From our friends at Realtor.comCongress is considering expanding and extending the $8,000 first-time homebuyer tax credit, which expires Nov. 30.
More than 1.8 million home buyers will have used the credit by the end of November, including an estimated 355,000 who wouldn’t have bought a home without it, according to the National Association of REALTORS® and other analysts. (more…)
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From our friends at Realtor.com
Buyers who are considering the purchase of a condominium should inspect the health of the home owner’s association before they close.
The seller should provide the buyer all financial documents relating to the association in time for an attorney for the buyer to review them before closing.
Here’s some advice from Leonard Baron, professor of finance at San Diego State University, about the information that the seller should consider:
Does the association budget include money for operating expenses such as water, lights, elevator maintenance, and landscaping?
Is there extra money set aside in a reserve fund for long-term maintenance? If there is an outside reserve study, that should be provided. If not, there should be adequate money in the reserves right now to cover 50 percent of the estimated cost of repairs over the next 30 years.
Do the condo’s expenses exceed revenues due to a high foreclosure rate or other reasons that owners’ debts go unpaid?
If there is a shortfall, does the association have a plan besides cutting back on services for making it up?
Source: The Wall Street Journal, June Fletcher (10/17/2009)
Links of Interest:
Loon Mountain Area Real Estate
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From our friends at Realtor.com
The best available tool for sustaining the still-fragile housing market is the $8,000 home buyer tax credit, and it is essential that Congress extend the credit into 2010, the NATIONAL ASSOCIATION OF REALTORS® testified at a hearing of the U.S. House Small Business Committee today. (more…)
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From our friends at Realtor.com
Young people just starting to invest and buying their first homes are potentially the winners in this recession.
First-time homebuyers, most between the ages of 25 and 45, accounted for about 45 percent of home sales from January through July 2009, according to the National Association of REALTORS® (more…)
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Construction spending rose 0.8 percent in August to a seasonally adjusted rate of $941.9 billion, above the revised July estimate of $934 billion. The August figure is 11.6 percent lower than a year ago, according to the U.S. Department of Commerce. (more…)
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From our friends at Realtor.com
Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to the NATIONAL ASSOCIATION OF REALTORS®.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August, rose 6.4 percent to 103.8 from a reading of 97.6 in July, and is 12.4 percent above August 2008 when it was 92.4. The index is at the highest level since March 2007 when it was 104.5. (more…)
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