The Senate has reached a compromise on extending and expanding the $8,000 tax credit for first-time home buyers, a boost the housing industry believes will help it pull out of its two-year-old downturn.While its passage remains uncertain, the agreement would extend the existing credit for first-time homebuyers, worth up to $8,000, while offering a new credit of up to $6,500 for some existing homeowners, ...
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The number of foreclosures in Woodbury already has exceeded the 2008 total, and officials say there is no indication the rate will slow in the next several months.
There were 338 sheriff’s sales in Woodbury in the first three quarters of 2009, according to Washington County records. The city saw 335 sheriff’s sales in all of 2008.
At the current pace, Woodbury could see 400 sheriff’s ...
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The Certified Distressed Property Expert (CDPE) designation is vital to assit sellers in this Real Estate Market. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.
Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than ...
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Foreclosures now selling three times as fast as short sales
Our Q3-2009 Update to “Foreclosures and Short Sales in the Twin Cities Housing Market” has just been released. Here’s a few highlights:
The inventory of available foreclosures is shrinking very quickly, while short sale inventory is not.
Lender-owned foreclosure inventory available for sale in the Twin Cities is down ...
The fall Twin Cities housing market has been full of wild things, mostly first-time home buyers stampeding to take advantage of the federal tax credit before it expires on November 30. The week ending October 10 was no different than others we've seen this fall. There were 947 signed purchase agreements for the week, a 37.6 percent increase over the same week last year. At 1,543 new listings we're ...
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RISMEDIA, September 30, 2009—Nearly two-thirds of single-family home builders are reporting a severe lack of credit for housing production, threatening the fragile housing recovery before it has time to take hold, according to a new builder survey of acquisition, development and construction (AD&C) financing conducted by the National Association of Home Builders (NAHB).
“Across ...
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RISMEDIA, October 2, 2009—(MCT)—Joseph Licari and Danielle Block had a simple goal when they started house-hunting. “We were looking for a bargain,” said Licari, a civil engineer. “And the bargains were in bank-owned and foreclosed homes.” They recently bought one of those properties, a small Cape Cod on a leafy street in New Milford, N.J., for $257,000, about ...
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Existing-home sales in August gave back some of their strong gain in July but remain above year-ago levels, according to the National Association of Realtors®.
Existing-home sales – including single-family, townhomes, condominiums and co-ops – declined 2.7 percent to a seasonally adjusted annual rate1 of 5.10 million units in August from a pace of 5.24 million in July, but remain 3.4 ...
Home prices continue to show signs of strengthening in the Twin Cities housing market. The median sales price for the 13-county metro region in August was $175,000, down 12.5 percent from a year ago but up once again from July. From March 2009 through August 2009, the median sales price has grown from $154,125 to $175,000. Prices were flat during the same period last year.
Prices are stablizing due ...