Home Sales Jump ~ April 2009

Liane Thomas — Tue, 02 Jun 2009 19:02:00 GMT

Pending US Home Sales Surge

Pending US home sales skyrocketed to their highest number in 7 years, a sure sign that the bottom is forming and that bargain seekers have arrived. The National Association of Realtors reported that its seasonally adjusted index of sales contracts signed (the Pending Home Sales Index) jumped 6.7% to 90.3, well ahead of analysts' expectations. Lawrence Yun, NAR chief economist, said buyers have responded to favorable market conditions. "Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market," he said. "Since first-time buyers must finalize their purchase by November 30 to get the credit, we expect greater activity in the months ahead, and that should spark more sales by repeat buyers."

So what does that mean to you? If you want to sell your home, this is probably the best time since 2006. Call me for a no obligation consultation to find out what your house is worth in todays market. We can help you sell your home fast, even if you owe more than your home is worth!

If you are considering buying a home, you MUST close escrow before the end of November to cash in on the tax credit. That means you need to be in escrow by September, and that means you need to be looking for a home TODAY! Please take advantage of this awesome opportunity pass you by!

Brought to you by:
Liane Thomas, REALTOR(R)
The Thomas Group, Keller Williams Realty
951.454.3805
www.AllCoronaHomes.com
www.FreeRiversideHomeSearch.com

Help for the Troubled Housing Market!

Liane Thomas — Fri, 15 Aug 2008 15:43:00 GMT

Finally we have some help for the troubled housing market. A law passed by the federal government and is one of the boldest and broadest pieces of legislation related to the real estate market since the great depression.

Among other relief details, the legislation devotes $300 billion to helping troubled homeowners avoid foreclosure.

Key provisions of the Housing and Economic Recovery Act of 2008

• A tax credit of up to $7,500 for qualifying first-time home buyers (repayable and interest-free over 15 years).

• An increase in loan limits for Fannie Mae, Freddie Mac, and FHA up to $625,500 with local limits set at 115% of the area median.

• A foreclosure rescue plan in which lenders would refinance homeowners with subprime and ARM reset loans into fixed-rate, 30-year mortgages backed by the Federal Housing Administration.

• A change in existing legislation that will eliminate seller-paid down payment assistance programs such as Nehemiah and the HART programs.

• New requirements for mortgage originators.

• A bailout plan for government-sponsored loan companies Fannie Mae and Freddie Mac, if it is needed.

• A grant of $3.9 billion in grants to the hardest hit communities for buying and fixing foreclosed property.

• $180 million for pre-foreclosure counseling and legal services for distressed borrowers

Additionally, states will receive and additional $11 billion in tax free municipal bond authority for low interest loans to first time home buyers, construction of low income rental housing and refinancing subprime mortgages.

If you want to know how this new law may help you, please call (951) 454-3805. We'd love to offer you some free information.

Market Update : tax relief 2008

Home Sales Jump ~ April 2009

Help for the Troubled Housing Market!