Business Picks up Where Prices Have Tumbled

Sales are picking up in markets where prices are deflated, but the business is different than it was before the bubble burst, observers say. The housing market in deflated markets--like Arizona, California, Florida, and Nebraska--are beginning to show signs of a...

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Recovery on the Way?

Housing Predictor - which monitors over 250 residential property markets nationwide - says Florida appears to be emerging from the realty slump before any other state, including California.The Sunshine State is seeing population growth, and single-family home and...

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Mortgage Rates Drop to Record Low March 2009

WASHINGTON – March 27, 2009 – Rates on 30-year mortgages fell this week to the lowest level on record after the Federal Reserve launched a new effort to assist the staggering U.S. housing market. Mortgage finance giant Freddie Mac said Thursday that average rates on...

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Survey: Households Say Now is Good Time to Buy

More than three-quarters (78 percent) of potential first-time home buyers say that now is a good time to buy a home, despite widespread concern about the economy. Out of the 1,000 prospective U.S. first-time home buyers surveyed in early March for the CENTURY 21...

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Small Banks Could Drive Recovery

WASHINGTON – March 23, 2009 – Small banks could play a key role in spurring the nation’s economic recovery, Federal Reserve Chairman Ben S. Bernanke said Friday, as many appear strong enough to make new loans while bigger institutions have pulled back. Bernanke urged...

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Home Impact Fees Cut

It is now $1,901 cheaper to build a new home in Polk County. Answering pleas from the local development community, the Polk County Commission voted Wednesday to reduce impact fees for new home construction by nearly $2,000. In addition to adopting a revised road...

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Mortgage Rates Sink to New Record Low

WASHINGTON – March 20, 2009 – Rates on 30-year mortgages plunged to a record low Thursday after the Federal Reserve launched a new effort to prop up the flailing housing market. The national average rate on 30-year, fixed mortgages was 4.94 percent on Thursday,...

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Tips for Homeowners Who Turn into Landlords

WASHINGTON – March 11, 2009 – Homeowners who decide to rent out their properties have to stop thinking of themselves as homeowners and instead consider themselves as running a small business, experts say. Thinking like a businessperson means focusing on the monthly...

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HOPE NOW Nonprofit Adds Home Refinancing Initiative

WASHINGTON – March 10, 2009 – HOPE NOW, a nonprofit alliance of mortgage companies, housing counselors and others in the lending business, has added a new tool to its website enabling homeowners to initiate a loan modification or refinance with their lenders by...

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Obama Mortgage Relief May Help Homeowners by April

WASHINGTON – Feb. 27, 2009 – Against a backdrop of record-low new home sales, Housing Secretary Shaun Donovan told lawmakers the lending industry is set to launch the Obama administration’s $75 billion foreclosure prevention program next week. Final details will be...

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Scammers Target Troubled Borrowers

Scam artists are proliferating, attempting to make money off troubled borrowers interested in taking advantage of President Barack Obama’s foreclosure-prevention plan. The firms charge fees for what they tell borrowers will be quick and effective negotiations with...

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First Time Home Buyers Drive February 2009 Sales

Existing-home sales increased in February, reversing losses in January, according to the latest report by the NATIONAL ASSOCIATION OF REALTORS®. However, sales activity remains relatively soft, reflecting additional layoffs and buyers waiting for housing provisions in...

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First-time Homebuyers: How to get the $8,000 Tax Credit

WASHINGTON – Feb. 17, 2009 – How does a first-time homebuyer take advantage of the $8,000 tax credit that President Obama is expected to sign into law tomorrow? It comes with a few rules. According to the most recent analysis, the following rules will apply – though...

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The Upside of Florida Real Estate: 15 Market Positives

Let’s take a look at some of the opportunities and positive indicators for the future of Florida’s real estate market. Great prices. Statewide, home prices have fallen about 20 percent in the past year. FAR statistics show the existing-home median sales price was...

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How to Find Money to Invest in Real Estate

These days it’s particularly tough for someone involved in a small-business real-estate venture to find funding. David Gass, founder of Business Credit Services of Las Vegas, offers these suggestions to real estate entrepreneurs in search of investors or loans. Put...

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Housing Aid Gaining Stream in Stimulas Bill

WASHINGTON – Feb. 3, 2009 – Home buyers could see lower mortgage rates and get tax credits as part of a sweeping economic stimulus package being considered on Capitol Hill. Lawmakers are heeding the pleas of two powerful and well-heeled interest groups: real estate...

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Mac Plans to Allow Foreclosed Homes Be Rented

WASHINGTON – Jan. 30, 2009 – Freddie Mac today plans to announce a first-of-a-kind plan that lets homeowners and tenants temporarily stay in homes in foreclosure by renting them back, an effort to stop many of the sudden evictions that have come along with the housing...

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Thirty Year Mortgage Rates Fall This Week

McLEAN, Va. – Jan. 30, 2009 – Rates on 30-year mortgages edged down this week, but remained above 5 percent, Freddie Mac reported Thursday. The average rate on a 30-year fixed mortgage dipped to 5.10 percent this week from 5.12 percent last week. At this time last...

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NAR Realtor Bailout Recommendations Make Headway

WASHINGTON – Jan. 30, 2009 – According to the National Association of Realtors® (NAR), the U.S. House of Representatives has taken a significant step toward economic recovery in passing H.R. 1, The American Recovery and Reinvestment Act of 2009. "On behalf of NAR and...

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Realtors Reiterate Keys to Housing Recovery Jan 2009

WASHINGTON – Jan. 14, 2009 – According to National Association of Realtors® (NAR) President Charles McMillan’s testimony yesterday before the U.S. House Financial Services Committee, Congress and the next administration must place significant emphasis on restoring...

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FED Ready to Provide Fresh Aid to Revive Economy

WASHINGTON (AP) – Jan. 29, 2009 – The Federal Reserve signaled that it stands ready to use new unconventional tools, or expand existing ones, to spur lending and consumer spending that could help lift the economy out of a painful recession. The Fed also agreed...

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Eight Tips For Landing a Mortgage

WASHINGTON – Jan. 23, 2009 – Washington is doing all it can to get money flowing again in the housing sector. At around 5 percent, 30-year mortgage rates are at levels that haven’t been seen in, well, 30 years. If you want to buy a home or refinance your existing...

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Thirty Year Mortgage Rates Rise After Record Run

McLEAN, Va. – Jan. 23, 2009 – Rates on 30-year mortgages rose above 5 percent this week, ending a five-week run at record low levels, Freddie Mac reported Thursday. Mortgage rates have been in decline since the Federal Reserve said in late November it would buy up to...

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Mortgage Rates Fall for 5th Straight Week

McLEAN, Va. – Jan. 16, 2009 – Rates on 30-year mortgages set a record for a fifth straight week by dropping to below 5 percent, the lowest mark since Freddie Mac started tracking the data in 1971. Mortgage rates have been dropping since late November, when the Federal...

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Fear You Can’t Qualify For Loan? Worth a Try

ORLANDO, Fla. – Jan. 14, 2009 – Qualifying for a mortgage is not nearly as easy these days as it was just a couple of years ago, before the sub prime-loan-market collapse and the worldwide credit freeze. Still, mortgages are approved every day, even for home buyers...

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Fannie Mae Bans Evictions of Renters Jan 2009

WASHINGTON – Jan. 14, 2009 – Mortgage finance company Fannie Mae said Tuesday it has adopted a policy allowing renters to remain in their homes even if their landlord enters foreclosure. The new policy will allow residents of about 4,000 properties to sign new leases...

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Tax Credit Changes Could Unleash Home Sales

If all home buyers become eligible for a tax credit without a repayment feature, it could result in an additional 555,000 home sales, enough to meaningfully draw down excess housing inventory, the NATIONAL ASSOCIATION OF REALTORS® says. An evaluation of options for a...

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Online Shoppers Beware of the Pitfalls of Going Alone

Home shopping alone - without the help of a professional even when online - can become a huge handicap for home buyers. Here are four reasons: Late information. Shoppers who limit themselves to only looking at real estate Web sites will overlook some very good...

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FED Official: Housing is Key to End Recession

While the current recession will be longer and more severe than predicted, housing will help lead the country out of the downturn, Boston Federal Reserve Bank President Eric Rosengren told the Massachusetts Mortgage Bankers Association at its annual meeting. Rosengren...

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Buyers Lured to Bargin Luxury Properties

Prices for luxury second-home markets are falling out of the stratosphere–and attracting buyers who were previously priced out of the market. Prices in the Caribbean have dropped by $500,000 and European retreats in Spain, Malta, and Portugal are down 30 percent, says...

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Mortgage Rates Fall to Third Straight Record Low

WASHINGTON – Jan. 5, 2009 – Rates on 30-year mortgages fell to a record low for the third straight week and borrowers took advantage of the drop, sending new applications soaring. With the Federal Reserve on the verge of pouring hundreds of billions of dollars into...

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