The $8,000 tax credit for first time buyers is working, drawing new people into the market and providing a big reason for growing home sales in metro Albuquerque. While the program ends November 30, as a practical matter, it ends in early September. That's because it typically takes from 45 to 60 days from signing a purchase agreement until a sale closes. You must close and fund on your new home by ...
by Kenneth R. HarneyThere was an important piece of economic news last week that has HUGE significance for real estate and housing, but it got minimal coverage on TV and in print. The Conference Board's Index of Leading Economic Indicators, widely acknowledged as the most accurate predictor of future activity and output in the U.S. economy, rose by almost a point in June. That was the third straight ...
During the past 20 years, the median price of an existing single family home in metro Albuquerque has gone from $144,100 (in 2008 dollars, that is, adjusted for inflation) to $186,500, says the annual "State of the Nation's Housing" report from the Joint Center for Housing Studies at Harvard University. (See www.jchs.harvard.e du/son/index.htm.) The price increase reflects more amenities and larger ...
Events and trends in the real world of the metro Albuquerque real estate market appear heading in a good direction.
Rio Rancho generated the big news during June with a 20% increase in sales of detached homes over June of 2008. June sales in Rio Rancho were also up 35% from May.
For the entire metro area, the median and average sales price rose in May for both detached homes and ...
"There's no place like home," so the famous saying from The Wizard of Oz goes. And this year, that saying applies to many new home owners, as first-time home buyers (FTHBs) have accounted for 53% of total residential real estate purchases during parts of 2009. For those of you who have already bought a home, congratulations. For those of you still waiting, this is a call to action: It's time to get ...
Pending Home Sales Up for 4th Straight Month
Wall Street Journal
By James R. Hagerty, June 25, 2009
Lately, mortgage brokers, builders, real estate agents and others in the housing business have been moaning about appraisals. On Tuesday, it was the turn of Lawrence Yun, the chief economist of the National Association of Realtors. He lamented that May home sales were "less than expected because poor appraisals are stalling transactions. ...
Isakson continues push to stimulate housing market
Submitted by the office of Sen. Isakson
June 10, 2009 05:35 pm- WASHINGTON - Drawing on more than three decades of experience in the real estate industry, U.S. Senator Johnny Isakson, R-Ga., today introduced legislation to invigorate housing demand and to boost the economy by expanding the first-time homebuyer tax credit passed by Congress earlier ...
RISMEDIA, June 2, 2009-Record low mortgage interest rates boosted pending home sales for the third consecutive month, with some benefit now from the first-time buyer tax credit, according to the National Association of Realtors®.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in April, rose 6.7% to 90.3 from a reading of 84.6 in March, and is 3.2% above April ...
