Category: Sales

Cash Home Sales Hit Record as Sales Decline

By Mike Colpitts Cash home sales hit a new record high in February as sales declined following three consecutive months of rising sales, according to the National Association of Realtors. Existing home sales dropped 9.6% to a seasonally adjusted annual rate of 4.88-million units from 5.4 million in January. Home buyers paying cash made up… Continue reading Cash Home Sales Hit Record as Sales Decline

Baby Boomers Help Kids Buy Homes

By Kiesha Joseph Baby Boomers, the generation of Americans who are now between 45 and 66, are excited to be helping their children purchase homes. Born between 1946 and 1965, boomers have been a driving force in the U.S. economy for more than 30 years. Boomers are using what they’ve earned over the years to… Continue reading Baby Boomers Help Kids Buy Homes

Home Price Index Shows Six Month Drop

By Mike Colpitts Home prices dropped for six straight months in the U.S., declining by 5.7% on average in January compared to a year earlier, despite the federal governments home buyer tax credit, according to Core Logic. The real estate research firm gathers mortgage data for the lending industry. The drop represented a 1% higher… Continue reading Home Price Index Shows Six Month Drop

Home Purchases Jump as Mortgage Applications Rise

By Kevin Chiu Mortgage applications rose sharply for both refinancing and home purchases as lower rates drove more consumers back to the marketplace, according to the Mortgage Bankers Association weekly survey. Applications for home purchases had a jump to the highest level they have reached for the year. Refinances also jumped 17.2% to reach their… Continue reading Home Purchases Jump as Mortgage Applications Rise

Anti-Flipping Rule Eliminated

By Keisha Joseph In order to accelerate foreclosure sales the FHA has eliminated a temporary waiver of their anti-flipping rule. The extension will last until the end of this year, allowing home buyers to obtain FHA-insured loans to purchase foreclosed properties. The length of time the homeowner has held title is no longer a factor.… Continue reading Anti-Flipping Rule Eliminated

Mortgage Rates Drop Three Straight Weeks

Mortgage rates showed a drop for the third week in a row averaging just 4.87% on a 30-year fixed rate loan, according to Freddie Mac. The average dropped to the lowest level in more than a month as lenders slashed rates to get borrowers back into the market, down from an average of 4.95% last… Continue reading Mortgage Rates Drop Three Straight Weeks

Steps to Find the Best Real Estate Agent in Today’s Market

By Kim Olson Finding “just the right home for you” can be daunting, especially if you’re moving to an area that you’re not familiar with. Fortunately, a good real estate agent can really make the process much easier. Follow these steps to find the best real estate agent in today’s troubled market, and your search… Continue reading Steps to Find the Best Real Estate Agent in Today’s Market

Home Sales Rose Third Straight Month

By Mike Colpitts Home sales rose for the third straight month as lower home prices and near record low mortgage rates drove more buyers back into the market, according to the National Association of Realtors. Existing sales of single family homes, townhouses, condominiums and co-ops tracked by the association increased 2.7% to a seasonally adjusted… Continue reading Home Sales Rose Third Straight Month

Mortgage Rate Drops to Magic 5%

By Mike Colpitts Mortgage rates moved in the right direction for home buyers this week as rates showed a drop in all categories, breaking a month long increase in rates, according to Freddie Mac. A 30-year fixed rate mortgage declined to 5.0%, a slim 0.05 decrease from last week, which represents a magic number for… Continue reading Mortgage Rate Drops to Magic 5%