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®.
September 25, 2009
Tough Times Mean High Housing Burden
Declining incomes resulted in more people spending 30 percent or more of their pre-tax income on housing, according to an analysis of U.S. Census data by the Joint Center for Housing Studies at Harvard University.
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Butterfield Overland Stage Days
The Benson/San Pedro Valley Chamber of Commerce has applications for participation in the Butterfield Overland Stage Days on their site for;
- C.A.C.I. Chili Cookoff
- Parade entry
- Vendors
Click here to download an application.
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September 24, 2009
Tax Credit Extension Could Sway Buyers
At least 43 percent of potential first-time home buyers told Zillow.com that extending the $8,000 federal tax credit would go a long way toward motivating them to buy a home in 2010,
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Appraiser Checklist
As a buyer both you and your lender want to be certain you are not paying too much. As a seller you want to be certain you are getting a fair price. The appraiser has the answer.
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September 23, 2009
What Not to Overlook on a Final Walk-through
It’s guaranteed to be hectic right before closing, but you should always make time for a final walk-through. Your goal is to make sure that your home is in the same condition you expected it would be. Ideally, the sellers already have moved out. This is your last chance to check that appliances are in working condition and that agreed-upon repairs have been made. Here’s a detailed list of what not to overlook for on your final walk-through.
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Thinking of Making an Offer on a Short Sale? What You Need to Know
On August 11 we published a post with a link to a new report on Short Sales available on our “Reports” menu tab. That report is directed towards the seller and outlines some of the steps and cautions involved in a short sale. This post is directed towards the buyer.
Are you looking to buy a new home? Are you thinking that now’s a great time to find bargains? That’s true, but it pays to know a little about the seller’s situation before you make an offer.
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September 22, 2009
Credit Reports Under Extra Scrutiny
If you are in contract or about to go into contract on a home, please pay attention to this article from REALTOR.org. This is for real. Lenders are checking credit reports up to the day of funding to ensure the borrower’s credit has not changed.
Buyers who are under contract and hoping to close before Nov. 30 when the first-time home buyer credit expires should refrain from buying furniture and other things on credit.
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Credit Market Makes Economists Nervous
If you have applied for a mortgage or a refinance lately you have very likely found the process much more trying than it was a year ago. Banks are shell shocked and afraid of being called out for irresponsible lending. If you are looking to refinance or apply for a loan for a purchase, allow plenty of time and be certain your credit is good. Here is an article from the AP.
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Analyst Helps Stocks Climb
If home price declines are indeed stabilizing that is good news for sellers. And as the foreclosed properties sell and are no longer impacting the market, the sooner we get back to normal (whatever that is).
Stocks of home builders rose Friday after JP Morgan Chase analyst Michael Rehaut said in a note to clients that business is better and home price declines are ending.Rehaut said that over the long term, “We believe the builders are significantly better positioned to gain share exiting this recession (than they were after the previous recession 20 years ago), given their large cash balances and capital advantage over private builders.”Source: The Associated Press (09/18/2009)
© Copyright National Association of REALTORS®, Reprinted from REALTOR.org with permission.”
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