Hint of Spring Surge – Pending home sales show healthy gain
April 14, 2010
Pending home sales rose in February, potentially signaling a second surge of home sales in response http://www.realtor.org/press_room/news_releases/2010/04/phs_gain to the home buyer tax credit, according to the National Association of Realtors®.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in February, rose 8.2 percent to 97.6 from a downwardly revised 90.2 in January, and remains 17.3 percent above February 2009 when it was 83.2. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.
Lawrence Yun, NAR chief economist, said the improvement is another hopeful sign. “The rise in buyer contract activity may signal the early stages of a second surge of home sales this spring. The healthy gain hints home prices are continuing to flatten,” he said. “We need a second surge to meaningfully draw down inventory and definitively stabilize home values.”
In the Midwest the index jumped 21.8 percent to 97.9 and is 18.7 percent above a year ago…
“Anecdotally, we’re hearing about a rise of activity in recent weeks with ongoing reports of multiple offers in more markets, so the March data could demonstrate additional improvement from buyers responding to the tax credit,” Yun said.
Walter Molony, National Association of Realtors
Washington, April 05, 2010
When choosing a Realtor during these challenging times, look for the one that has a proven sales record with the experience, knowledge of your area, and expertise that you deserve.
In a Real Estate Market where sellers are unsure of what to expect next, you can’t afford to wait for a Realtor to decide how to best market your home. Our team has been doing this successfully for over 20 years. When Something Feels Right You Stick with it… That’s Why People Stick With Steve!!
Roselle condo units are selling fast!
April 8, 2010
Bank owned new construction! Seven beautiful finished units ready to move into & 27 unfinished units waiting for your decorating ideas on all finishes. Unfinished units are drywalled & primed. They need trim, doors, cabinets, plumbing fixtures, flooring & countertops . Call for details & financing availabilty. See all floorplans & pricing at www.parkstreetcrossing.com. Investors welcome! Don’t miss this opportunity! Call Steve for a showing today 847-222-8686. Two year health membership included.
First Time Home buyers Seminar in Palatine IL
February 10, 2010
Tired of Renting?
Come join us for a FREE First Time Home Buyers Seminar.
These seminars are held Monthly at Harper Community College in Palatine, IL. Residents from Arlington Heights, Palatine, Schaumburg, and many surrounding areas in the Northwest Suburbs attend these informative sessions.
You can have all of your questions answered about purchasing your new home as well as learn some Home Buyer Tips that could save you Time, Effort & Money!
Topics for Discussion Include:
How to buy a Foreclosure
New Homes vs Existing Homes
How important is Credit When buying a Home
What Mortgage program is best for you
Do I qualify for the New $8,000 Tax Credit
Tax Advantages of Home Ownership
Do I have an Inspection before making an offer
Should I have an Attorney
You can contact us at 847-222-8686 to register or Register online at www.HomeseekerSeminar.com
Deadline for February is 2/16/2010
Seminar will take place on February 17, 2010
Harper Community College~ Building A RM 242
7:00PM-8:00 PM
When It Comes to Chicago Real Estate…It’s a Buyer’s Market
February 5, 2010
It is a buyer’s market when it comes to real estate. To be a buyer the conditions could not be better. Low interest rates, home values and inventory all point to buy, buy, buy. The only thing standing in the way is money, but if people can get money and they are in the right place at the right time, buying real estate is a great idea.
If the real estate market were a car the first time home buyer would be in the driver’s seat. Not only to first time home buyers get to take advantage of low mortgage rates, low home values, but they also don’t have to sell a home before they buy a home. There are a LARGE inventory of homes for sale in the Northwest Suburbs that you can take a look at.
There may not be a better time to be a home buyer, especially a first time home buyer, for a long time. The first part of 2010 displays ideal conditions to get out there and start looking, and not to mention the $8,000 credit that is available for First Time Home buyers.
Pending Home Sales Stabilize…
February 2, 2010
Pending home sales have leveled from a market swing driven by response to the home buyer tax credit, according to the National Association of Realtors®.
The association also adjusted its economic outlook for 2010 and 2011, and projects that existing-home sales will rise from 5.19 million in 2009 to 5.66 million in 2010 and 5.7 million in 2011.
Based on contracts homebuyers signed but not yet closed in December, the association’s Pending Home Sales Index increased 1 percent, to 96.6 from 95.6 in November, and rose 10.9 percent from December 2008, when the index was 87.1.
For more detailed information regarding this article please click here
Homebuyer Tax Credit EXTENDED!
November 6, 2009
Moments ago, President Obama signed into law the Unemployment Compensation Extension Act (H.R. 3548) that included, as an amendment, the extension and expansion of the Homebuyer Tax Credit
Unemployment Compensation Extension & expansion of the Homebuyer Tax Credit
November 5, 2009
Today, the U.S. House of Representatives voted by an overwhelming 403-12 margin to approve the Unemployment Compensation Extension Act (H.R. 3548) that included, as an amendment, the extension and expansion of the Homebuyer Tax Credit. The bill already passed in the U.S. Senate yesterday, so now it will advance from Congress to the White House for President Obama’s signature. The Administration already has signaled its support of the Homebuyer Tax Credit amendment as well as the President’s intention to sign the bill into law.
Tax Credit May Be Extended
October 12, 2009
There has been a push in the House to get the First Time Home Buyer Tax Credit extended, as well as expanded. Last week the House passed a bill extending the $8,000 tax credit into next year for military, diplomatic and intelligence workers who have been working overseas. This bill’s passage leaves many hopeful that an extension for regular first time home buyers will pass as well. Much of the increase of real estate sales has been attributed to the Tax Credit.
There is a strong sentiment to extend the First Time Home Buyer Tax Credit because the real estate market is not seen as completely stable yet. The hope is that if the tax credit is extended then real estate sales will continue to improve. If the credit gets opened up to include all home buyers, as some would hope, then real estate sales volume is expected to pick up quite a bit.
For the latest from Realty Times regarding the tax credit click here.
