Archive for the ‘Home Staging’ Category

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Mortgages Becoming Easier to Obtain In some parts of the country

December 21, 2009

Daily Real Estate News | December 21, 2009 |

Mortgages Becoming Easier to Obtain In some parts of the country, borrowers with good credit are more likely to be able to borrow 95 percent of the purchase price than they were just a few months ago. In Florida and other troubled markets credit remains tight and mortgage companies continue to scrutinize property appraisals, which makes it difficult for some borrowers to get financing. But in most areas of the country where prices are stabilizing or falling only slightly, standards are relaxing. “We are starting to see…moderation,” said Neil Librock, head of credit risk for Wells Fargo & Co. Source: The Wall Street Journal, Ruth Simon (12/19/2009)

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9 CONSECUTIVE GAINS FOR PENDING HOME SALES

December 1, 2009

GREAT NEWS.

Daily Real Estate News | December 1, 2009

Nine Consecutive Gains for Pending Home Sales. Pending home sales have risen for nine months in a row, a first for the series of the index since its inception in 2001, according to the NATIONAL ASSOCIATION OF REALTORS®. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in October, increased 3.7 percent to 114.1 from 110.0 in September, and is 31.8 percent above October 2008 when it was 86.6. The rise from a year ago is the biggest annual increase ever recorded for the index, which is at the highest level since March 2006 when it was 115.2. Lawrence Yun, NAR chief economist, said home sales are experiencing a pendulum swing. “Keep in mind that housing had been underperforming over most of the past year. Based on the demographics of our growing population, existing-home sales should be in the range of 5.5 million to 6.0 million annually, but we were well below the 5-million mark before the home buyer tax credit stimulus,” he said. “This means the tax credit is helping unleash a pent-up demand from a large pool of financially qualified renters, much more than borrowing sales from the future.” By Region * Pending sales in the Northeast surged 19.9 percent to 100.2 in October and is 44.2 percent above a year ago. * In the Midwest, the index rose 11.6 percent to 109.6 and is 36.6 percent higher than October 2008. * Sales in the South increased 5.4 percent to an index of 115.4, which is 31.6 percent above a year ago. * In the West, the index fell 11.2 percent to 127.7 but is 21.9 percent above October 2008. Not Out of the Woods Yet Yun cautioned that home sales could dip in the months ahead. “The expanded tax credit has only been available for the past three weeks, but the time between when buyers start looking at homes until they close on a sale can take anywhere from three to five months. Given the lag time, we could see a temporary decline in closed existing-home sales from December until early spring when we get another surge, but the weak job market remains a major concern and could slow the recovery process. “Still, as inventories continue to decline and balance is gradually restored between buyers and sellers, we should reach self-sustaining housing conditions and firming home prices in most areas around the middle of 2010. That would mean broad wealth stabilization for the vast number of middle-class families,” Yun said. Source: NAR

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Question? Do you think Extended Home Buyer Tax Credit will help economy?

November 7, 2009

Would love to know your reaction to the new law extending the Home Buyer Tax Credit till April 30th 2010. Please comment. Do you think it’s a positive move or not? and have you taken advantage of the tax credit to purchase recently?

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COMING SOON IN A TOWN NEAR YOU “FIRST TIME HOME BUYER’S FREE SEMINAR

September 12, 2009

pkfirsttimebuyerssept

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Let me know how you,the buying public sees the housing market?

July 27, 2009

Curious to know how the buying public sees the housing market at the moment? Are they aware of the changing market and the bidding wars. Any opinions?

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March 4, 2009
Home Staging on a Budget

Home Staging on a Budget