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Obama signed the First-Time Home Buyer Tax Credit today.
Congress both extended and expanded the First-Time Home Buyer Tax Credit program Thursday.
The up-to-$8000 tax credit’s expiration date has been pushed forward to spring, requiring homebuyers to be under contract by April 30, 2010, and to be closed by June 30, 2010.
The program’s basic eligibility requirements remain the same:
Buyers can’t purchase the home from a parent, spouse, or child
Buyers can&... Read Full Story
Friday morning President Barack Obama will sign the new bill extending the First Time Home Buyer Credit.
The bill also includes $6,500 credit for Buyers who are current Home Owners and have been in a principal residence for at least five of the last eight years.
Related posts:The End Of The First-Time Home Buyer Tax Credit (Video) Buyers not under contract by October 15 have little chance...First-Time Home Buyer Tax Credit expires December 1, 2009 The government's First-Time Home Buyer Tax C... Read Full Story
Please take the time to watch and try to understand!
Related posts:Join Rick Santelli’s Revolution Join Rick Santelli's Revolution...Six Tax Breaks Every Homeowner Should Know Benjamin Franklin once said, "In this world nothing can be...Rent vs. Own $70 National Spread (video) Rent vs. Own $70 National Spread (video)... Read Full Story
The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent.
In its press release, the FOMC noted that the U.S. economy “has continued to pick up” since the September FOMC meeting and that housing market activity has increased.
It’s the third consecutive post-FOMC statement in which the Fed speaks optimistically about the U.S. economy – a signal that the recession is likely over.
The economy isn’t with... Read Full Story
Mortgage markets improved last week after a series of hugely volatile trading sessions.
Rates carved out a wide range on the week, culminating in a late-Friday plunge that dropped rates by about 1/8 percent.
It was the first time in 5 weeks that mortgage rates fell.
Volatility like that of last week is nothing new on Wall Street; it’s been a running theme in 2009. Volatility occurs when markets don’t agree on what’s next for the economy and, this year, there’s be... Read Full Story
For August, the Case-Shiller Index showed annual home values improving across 19 of 20 U.S. markets. It’s the first time in 3-plus years that the benchmark housing index has shown such strength.
According to a Case-Shiller Index spokesperson, “The rate of annual decline in home price values continues to improve.”
It’s yet another sign that housing may have already bottomed.
However, just because the Case-Shiller Index shows a stabilization in home values, that does... Read Full Story
Are we turning the corner? Or is the GOV just propping us up?
Related posts:Home Supplies Plummet, Putting Pressure On Home Prices To Rise For the 4th straight month, New Home Sales gained, posting...Home Prices Still On The Rise Because of these exclusions, some analysts call the HPI incomplete....Home Supply Falls To An 8-Month Low In June, there was 9.4 months of supply, down from... Read Full Story
The national housing supply fell to a 2-year low last month, according to the National Association of Realtors®.
At the current sales pace, existing home inventories would sell out in 7.8 months — 30 percent faster versus November 2008.
For a 10-month window, that’s a major housing supply reduction and it helps to explain why multiple-offer situations have been so common lately.
Moreover, the same report from NAR showed sales activity reaching its highest point since July 200... Read Full Story
According to the government, home values edged lower last month.
The Federal Housing Finance Agency’s Home Price Index report shows values down by 0.3 percent from the month prior – the index’s first down month since April.
The Home Price Index is based on the value of homes financed via Fannie Mae or Freddie Mac and, in this sense, the FHFA Home Price Index is more of a “national” real estate index than its private-sector cousin, the Case-Shiller Index.
But like... Read Full Story
