June 2009 
There are 11 blog entries for June 2009.
Have We Reached Bottom? 10 Factors to Consider
Wednesday, June 24th, 2009 at 7:59am. 283 Views, 0 Comments.
RISMEDIA, June 24, 2009-Historically, the value of real estate goes through cycles. Many factors affect the value of homes including the laws of “supply and demand.” From the Appraisal Institute, here’s a quick reference guide to some of the factors involved and advice on how to spot a turning point in the market:
1. A spike in local sales activity. A spike refers to a significant rise in the number of home sales (or values) in a local market area, which generally is measured month to month. A spike does not necessarily mean continued growth, i.e. it could be a one month phenomenon.
2. Higher asking and selling prices vs. appraisal value opinions for residential properties. Appraisers study the markets; they do not make the markets. When the data…
Housing Starts Jump 17.2% in May, Permits Post Gains in May, Too
Wednesday, June 17th, 2009 at 7:00am. 289 Views, 0 Comments.
RISMEDIA, June 17, 2009-Nationwide housing starts rebounded in May from record lows in the previous month, posting a 17.2% gain to a seasonally adjusted annual rate of 532,000 units, according to U.S. Commerce Department figures released this week. While driven largely by a double-digit gain in the volatile multifamily sector, the uptick also reflected a substantial gain on the single-family side and applied consistently to all regions of the country.
“Having drawn down standing inventories to very thin levels over the past year, some home builders are now carefully replenishing their supplies in response to demand from smart buyers who are taking advantage of low interest rates and prices,” said Joe Robson, chairman of the National Association of…
Mortgage Rates Rise for Third Consecutive Week
Wednesday, June 17th, 2009 at 6:58am. 263 Views, 0 Comments.
RISMEDIA, June 17, 2009-The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages increased last week to 5.72%, up from 5.48% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com. Meanwhile, rates for 15-year fixed mortgages rose to 5.18% from 4.95%, and 5-1 adjustable rate mortgages rose to 4.73% from 4.62% the week prior.
Average Rate Average Rate
Mortgage Type Week ending 6/14/09 Week ending 6/7/09 % Change
30-year fixed 5.72% 5.48% 4.4%
15-year fixed 5.18% …
5 Pro Tips Designed to Help You Move
Tuesday, June 16th, 2009 at 9:56am. 270 Views, 0 Comments.
By Nara Schoenberg
RISMEDIA, June 16, 2009-(MCT)-How hard is it to move all your worldly possessions from one home to the next? So hard that even Clive Pearse of HGTV can get it wrong.
“I’m a bit of a hoarder, and-spectacularly-when I moved from England in 1997, I packed up an entire house of rubbish and brought it with me across the Atlantic,” says Pearse, who hosts “Designed To Sell.”
“I should have got rid of it and saved money.”
Also in the bad news column: “The average American will move 12 times in a lifetime. A lot of people feel like they’ve moved 12 times after doing it once.”
But enough with the doom and gloom! Our favorite trans-Atlantic trash-hauler is here with five ways to lighten your load, both literally and figuratively. Or, as he…
FHA Tax Credit Monetization Helps Home Buyers With Upfront Costs
Thursday, June 11th, 2009 at 8:10pm. 271 Views, 0 Comments.
RISMEDIA, June 11, 2009-First-time home buyers who would otherwise qualify for the $8,000 tax credit, but don’t have the money for a down payment or closing fees, may now be able to get a loan to help cover those upfront costs.
The U.S. Department of Housing and Urban Development (HUD) announced on May 29 that the Federal Housing Administration (FHA) will allow state housing finance agencies to provide second mortgages “monetizing” the tax credit so that borrowers can use the funds toward their down payments and closing costs for the purchase of homes with FHA-insured mortgage loans.
“This is great news for thousands of families who want to take advantage of today’s low interest rates, competitive prices, great selection and the federal tax credit that…
Moving Tips for the Busiest Moving Month of the Year—June
Tuesday, June 9th, 2009 at 5:34am. 263 Views, 0 Comments.
RISMEDIA, June 9, 2009-When moving, many people are faced with weighing the options-should they hire movers or pack themselves? What are the benefits of doing either? What do most people forget when packing up and moving? How can you save money when moving? From FlatRate Movers, a nationwide leader in moving and storage, here are some tips to keep in mind:
• Order boxes and moving supplies early so you can start packing. Moving companies provide boxes that are purpose made and easily marked. If your moving company allows you to return unused boxes, order more than you think you’ll need, by 20%. Likewise, do not scrimp on tape. It is inexpensive and prevents boxes from splitting open. You need fresh felt tip pens for labeling. Use colored ready-stick…
Playing House for the First Time - Priorities for New Homeowners
Monday, June 8th, 2009 at 7:14am. 222 Views, 0 Comments.
By Nancy A. Herrick
RISMEDIA, June 8, 2009-(MCT)-Home prices have moderated, interest rates are reasonable, supply is abundant-and then there’s that $8,000 tax credit. Yes, it’s a great time to buy your first house.
If you do, you’ll have to furnish it, and that can be a challenge, especially if you have put much of your disposable income into a down payment. But you’re a grown-up now, and your first real home is no place for that grungy old futon or bookcases constructed with bricks and boards. It deserves better.
So what’s the best way to go about furnishing your new home? We’ve asked a variety of experts for their ideas on what to do after your offer has been accepted. Here are their ideas:
“Before you get carried away, take some time to…
Pending Home Sales Up for Three Months in a Row
Wednesday, June 3rd, 2009 at 10:05pm. 247 Views, 0 Comments.
RISMEDIA, June 2, 2009-Record low mortgage interest rates boosted pending home sales for the third consecutive month, with some benefit now from the first-time buyer tax credit, according to the National Association of Realtors®.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in April, rose 6.7% to 90.3 from a reading of 84.6 in March, and is 3.2% above April 2008 when it was 87.5.
Lawrence Yun, NAR chief economist, said buyers are responding to very favorable market conditions. “Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market,” he said. “Since first-time buyers must finalize their purchase by November 30 to get the…
Mortgage Rates Surge Late Last Week; 30-Year Fixed Rates Peak Near 5.40% But Fall Over Weekend
Wednesday, June 3rd, 2009 at 10:02pm. 334 Views, 0 Comments.
RISMEDIA, June 3, 2009-The weekly average mortgage rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages increased last week to 5.25%, up from 5.02% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com(R). Meanwhile, rates for 15-year fixed mortgages rose to 4.78% from 4.60%, and 5-1 adjustable rate mortgages rose to 4.48% from 4.27% the week prior.
Mortgage Type Average Rate Average Rate % Change
Week ending 5/31/09 Week ending 5/24/09
30-year fixed 5.25% 5.02% 4.6%
15-year fixed 4.78% 4.60% 3.7%
5-1 ARM 4.48% 4.27% 4.8%
Rates dipped slightly over the weekend, but were expected to climb again during the week. The rate for a 30-year fixed purchase mortgage was…
Tax Credit, Low Interest, and Big Inventory Lure Rookies into Housing Market
Tuesday, June 2nd, 2009 at 7:11pm. 203 Views, 0 Comments.
By Steve Campbell
RISMEDIA, June 2, 2009-(MCT)-Even in a sputtering economy, one segment of the U.S. housing market is feeling a bounce. First-time home buyers-loaded for bear with a new $8,000 tax credit, historically low interest rates and a big inventory to choose from-are happily diving into domestic life, according to real estate agents, economists and mortgage lenders.
Craig Brown, a 26-year-old marketing developer for an online sales company, feels as if he were getting a free, federally funded fresh start.
“The tax credit was what brought me into the house hunt. I could pay off my debt and get an extremely low loan rate. I couldn’t pass it up,” he said.
The $8,000 tax credit for first-time buyers, passed by Congress as part of its plan to…
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