Charm & Character Describes this Well Kept Home w/Plenty of Room for a Growing Family. Large Living Room w/Gas Fire Place. Good Size Walk In Closets. Hardwood Floors. Big Enclosed Back Porch. Partial Finished Basement w/Heat. Cute Yard in Quiet Area.
February 9, 2010
NEW LISTING ~ PAWTUCKET, RI 173 Harris Street
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February 6, 2010
Immaculate Colonial Cape, 3/4 BRS Boasts A Brand New Kitchen w/Granite Counters & Stainless Steel Appliances. Large Front to Back LR/FR w/FP. Huge 4 Season Sun Room. Hardwood Floors. Newer Mechanics & Roof. Partial Finished Basement. North End Area.
February 6, 2010
Washington, February 02, 2010
Pending home sales have leveled from a market swing driven by response to the home buyer tax credit, according to the National Association of Realtors®.
The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in December, increased 1.0 percent to 96.6 from 95.6 in November, and remains 10.9 percent above December 2008 when it was 87.1. In November, the monthly index had fallen by 16.4 percent from surging activity in preceding months.
Lawrence Yun, NAR chief economist, said it’s important to recognize how the tax credit is skewing market data. “There are easily understood swings in contract activity as buyers respond to a tax credit that was expiring and was then extended and expanded,” he said. “These swings are masking the underlying trend, which is a broad improvement over year-ago levels. December activity was the fifth highest monthly tally in two years.”
http://www.realtor.org/press_room/news_releases/2010/02/stabilize_remain
January 30, 2010
HOUSE HOLD TIP via Your Home and Lifestyle.
January 22, 2010
The Federal Housing Administration (FHA) today outlined future changes to the FHA home loan program. The changes first were proposed last month by Secretary of Housing and Urban Development (HUD) Shaun Donovan.
Rising defaults on FHA loans have led to the FHA’s cash reserves falling below federally mandated levels. FHA officials hope that policy changes will ensure borrowers have a stronger equity position and are less likely to default.
Policy changes include:
Raising the up-front mortgage insurance premium: The premium will rise to 2.25 percent from its current 1.75 percent. HUD is expected to release a Mortgagee Letter on Jan. 21 making the premium increase effective in the spring.
Raising the minimum credit score requirements: New borrowers will be required to have a minimum FICO score of 580 to qualify for the FHA’s 3.5 percent down payment program. New borrowers with less than a 580 FICO score will be required to put down at least 10 percent. FHA expects this to take effect in early summer after it goes through the normal regulatory process.
Reduce allowable seller concessions: The agency is lowering the maximum permissible level to 3 percent from its current 6 percent limit. FHA expects this to take effect in early summer after it goes through the normal regulatory process.
Source: C.A.R.
December 26, 2009
December 23, 2009
Home sales surge, boosting recovery hopes
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MSNBC – Dec. 22, 2009
WASHINGTON – The recovery may have gotten off to a slow start in the third quarter, but a surge in home sales last month could presage a more robust end to the year.
Sales of existing homes rose in November to the highest level in nearly three years, reflecting an extraordinary level of federal support that has pulled the housing market back from its worst downturn since the Great Depression.
The National Association of Realtors said sales rose 7.4 percent to a seasonally adjusted annual rate of 6.54 million from a downwardly revised pace of 6.09 million in October.
Sales had been expected to rise to a pace of 6.25 million, according to economists surveyed by Thomson Reuters.
“Things are stabilizing,” said Pete Flint, chief executive of real estate Web site Trulia.com. “There is a significant amount of buyer interest out there.”
December 21, 2009
10 Trouble Spots to Consider When Buying Foreclosed
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RISMEDIA, December 21, 2009—
It’s easy pickings out there for many potential homebuyers. Housing prices are at their lowest in more than a decade, inventories are high, analysts are predicting a new wave of foreclosures and the government is offering two substantial tax credits for which many homebuyers qualify. But bargain buyers beware, warns Vince Mastronardi, whose property preservation business has been busy preparing foreclosed homes for sale.
November 27, 2009
Daily Real Estate News | November 23, 2009
Driven by the home buyer tax credit, existing-home sales showed another big gain in October with a strong uptrend established over the past seven months, according to the NATIONAL ASSOCIATION OF REALTORS®. At the same time, inventories have continued to decline.
Existing-home sales—including single-family, townhomes, condominiums and co-ops—surged 10.1 percent to a seasonally adjusted annual rate of 6.10 million units in October from a downwardly revised pace of 5.54 million in September, and are 23.5 percent above the 4.94 million-unit level in October 2008. Sales activity is at the highest pace since February 2007 when it hit 6.55 million.
read more: http://www.realtor.org/RMODaily.nsf/pages/News2009112301?OpenDocument
November 9, 2009
Obama Signs Homebuyer Tax Credit Extension
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RISMEDIA, November 9, 2009—President Barack Obama has approved the first-time homebuyer tax credit extension which will extend the tax credit until April 30, 2010.
The extension is part of a $24 billion economic stimulus bill that will extend the $8,000 tax credit for homebuyers who are purchasing their first home from the current November 30 deadline and expands the program to offer a credit of $6,500 to homeowners who have lived in their current home for at least five years and are seeking to relocate.
Read more: http://rismedia.com/2009-11-08/obama-signs-homebuyer-tax-credit-extension/#ixzz0WNdViLTl
