Fannie Mae announced that all of it's foreclosed homes that are being put on the market are only available to owner occupant buyers for the first 15 days that they are on the market, in what it is calling the 'First Look Initiative'. The idea ...
Monthly Archives: November 2009
Existing Home Sales Rise – Even Around Atlanta
Note the previous post about the precipitous drop in New home sales and housing starts. Well, just the opposite happened with the existing home sales - resales are on the rise. And, existing home sales are rising quite well: As you can see, there has been a ...
Housing Starts Waaay Down
Housing Starts - or the number of new permits to build residential homes - was down last month by 10.6% over the month before. Economists generally expected housing starts to be up by 1.5%. That's a 12.1% swing to the downside from expectations. In other ...
First Time Home Buyer Definition
To receive the $8000 tax credit, you must be a first time home buyer. And, as is widely reported, a first time home buyer is anyone who has not owned a home in the past 3 years. Simple enough. Right? Well, no. My definition of not having owned a home in the past 3 years ...
$6500 Tax Credit, If You’ve Lived in Your Home 5 Years
Part of the new, expanded first time home buyer tax credit, is not for first time buyers at all. If you have lived in your home for 5+ years out of the past 8 years, and are now moving, then you will qualify for a ...
Beware of Loan Modification Paid Services
I saw a story about some 30 loan modification companies being shut down in Nevada. And, it does not surprise me. I have looked into several loan modification companies, hoping to find one that I could refer my clients to, the ones who need ...