Mortgage help is out there, exactly where is the question.  Obama may have signed a housing bill this week in Arizona but the details are not completely clear to most of us, yet. The old adage “patience is a virtue” just might come in handy.  The focus seems to be on those facing foreclosure but there are many other people wanting help.
There are a great deal of people out there who are still paying their mortgages but whose home values have dropped enough that they are unable to re-finance and acquire the low rates.  Mortgage companies simply don’t want to …read more

First-time home buyers will receive an $8,000 tax credit if they purchase a house between January 1, 2009, and December 31, 2009.  The $8,000 tax credit is for the purchase of a primary residence, must be for a first-time home buyer and is not meant to be re-paid.  This is a credit not a loan and has been created to be an incentive for people who are considering purchasing their first home. The tax credit is to be claimed on the buyer’s tax return and any unused portion will be mailed to the buyer.  The $8,000 tax credit is a …read more

Desirable towns seem to maintain their values where nearby, less high-end towns’ housing values are declining.  This phenomenon is an interesting one to say the least, one town’s property values drop significantly while a neighboring town’s property values rise.  A recent article by Ted Seifer in the Boston Globe pointed out how Wellesley, MA and Weston, MA real estate values remained strong while nearby Wayland home values dropped significantly.  In fact real estate values in Weston and Wellesley increased while the median Wayland home value dropped by nearly 20%.  Seifer demonstrates this in the Globe article “Just compare Weston and …read more

Last Wednesday the Senate approved of a $15,000 tax break for home buyers.  The tax incentive was approved separately from the overall stimulus package which is still being discussed by congress.  The aim of the $15,000 tax break is to help jump-start the housing sector.  The tax break is meant to  give prospective home buyers the encouragement that they might need to buy a home.  The details of the tax credit are not completely clear yet.  Originally it was planned to be for first-time home buyers but it appears as if the tax credit will be for new home buyers.
Stabilizing …read more

December showed a surprising increase in home sales across the country, a positive sign in a world of uncertainty.  According to realtor.org, existing home sales rose 6.5% in December, a nice increase in a tough year.  Home prices have been falling as have interest rates, creating a perfect climate for home buyers.  The factors that make buying a home attractive to potential home buyers are falling into place and while there is no way of knowing whether real estate prices have hit the bottom it is certain that if they are not at the bottom they will be soon.
In a …read more

It’s not news any more to see that the majority of the country is in a buyer’s market.  The low interest rates mixed with lower home prices and a large inventory all add up to create this reality.  It just makes it more valuable information to hear it from a true professional and someone in “the know”.
In a recent article at realtor.org the president of NAR, Charles McMillan stated what many people have been stating, it’s a good time to buy real estate.  “The typical buyer plans to stay in their home for 10 years, which is the correct approach …read more

The National Association of Realtors (NAR) is looking forward to a new administration, hopeful that some housing strategies can be put in place that will benefit the housing market as a whole and help lead the country out of economic turmoil.  NAR is hopeful that future measures can focus on restoring consumer confidence when it comes to real estate.
In a recent article by Mary Trupo, NAR President Charles McMillan said, “The housing sector is at the core of the current economic crisis.  A renewed, revitalized and robust housing market is essential to generating commerce and helping families build wealth and …read more