March 2010 
There are 3 blog entries for March 2010.
Fixer-Upper Financing: 203k Program Provides Buyers with Renovation Funds
Sunday, March 28th, 2010 at 1:10pm. 340 Views, 0 Comments.
By Eve Mitchell
RISMEDIA, March 27, 2010—(MCT)—The word “as-is” can indeed be one scary phrase. Especially when buying a home in today’s market where foreclosures and short sales that need fix-up work are plentiful.
But a little-known Federal Housing Administration (FHA) loan program that’s been around since 1978 can help take the sting out of “as-is.” Only 219 borrowers took advantage of the FHA’s 203k program in 2009. Not that many lending and real estate professionals are aware of the program, say observers.
Last year, Tom Meyer found a classic Oakland, Calif., home built in 1925 near Mills College he liked a lot. As a short sale it was priced right and about half the original asking price. Trouble was, the place needed some…
Federal Reserve Vows to Keep Interest Rate Low
Thursday, March 18th, 2010 at 11:52am. 406 Views, 0 Comments.
By Tom Petruno
RISMEDIA, March 18, 2010—(MCT)—Steady as it goes, Federal Reserve policymakers recently declared in their post-meeting statement. They left their benchmark short-term interest rate unchanged in the range of zero to 0.25% and once again pledged to keep it low for an “extended period”—retaining the phrase they’ve used for the past year.
The central bank continued to sound relatively upbeat about the economy, saying the data it looks at suggest that “economic activity has continued to strengthen and that the labor market is stabilizing.”
The Federal Reserve also said it would end, on schedule, its program of buying mortgage-backed bonds to help keep home loan rates low. That program will conclude at the end of this month…
NAHB Reminds Home Buyers: Tax Credit Expiring Soon
Saturday, March 6th, 2010 at 8:10am. 425 Views, 0 Comments.
RISMEDIA, March 5, 2010—The National Association of Home Builders (NAHB) wants potential home buyers to be aware that they still have the opportunity to take advantage of the $8,000 first-time home buyer or $6,500 repeat buyer tax credits, as long as they act quickly—the credits expire on April 30, 2010.
“It’s not too late to take advantage of the home buyer tax credit,” said NAHB Chairman Bob Jones, a builder and developer in Bloomfield Hills, Mich. “There are plenty of existing homes on the market, and even though the move-in ready newly constructed homes inventory has dwindled, builders may still be able finish a home in time.”
The IRS provides an additional two months beyond the deadline to close the deal. Buyers who sign a sales…
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