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Old 10-27-2009, 09:09 AM
 
1,983 posts, read 7,098,172 times
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Have at it:

Home Prices in 20 U.S. Cities Rise for Third Month (Update1) - Bloomberg.com

Existing homes sales also shot up 10% as reported earlier in the week.

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Old 10-27-2009, 11:23 AM
 
364 posts, read 777,765 times
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When FED is doing everything it can to screw up the country in order to save housing, who am I to be surprised about this green shoots?

Let's see. 3.5% down FHA load, 8k tax credit, very low mortgage rates. What else do you want?

Now, when these new homeowners with 3.5% FHA default, please sell more treasuries to China to bail them out.

Asset bubble is in the making as we speak!!!
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Old 10-27-2009, 12:26 PM
 
Location: NJ
2,212 posts, read 6,692,684 times
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Good. Maybe the banks will finally relent and start releasing all those foreclosures they are sitting on.
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Old 10-27-2009, 12:58 PM
 
364 posts, read 777,765 times
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Home prices rise again, but can it last? - MarketWatch
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Old 10-27-2009, 06:46 PM
 
505 posts, read 1,655,429 times
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I know this is an extremely local observation, but looking in desirable towns in my area, I found very little inventory, which I equate to rising home prices in the future due to supply and demand. We just have to see if there is going to be a dip after the 8k tax credit is done, much like the Case for Clunkers sales programs.
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Old 10-27-2009, 07:41 PM
 
Location: Montgomery County, PA
2,771 posts, read 5,903,436 times
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Quote:
Originally Posted by MoorestownResident View Post
Have at it:

Home Prices in 20 U.S. Cities Rise for Third Month (Update1) - Bloomberg.com

Existing homes sales also shot up 10% as reported earlier in the week.

I'm negotiating on a place right now, so I wish I shared your optimism about the direction of the market. I don't think the expiry of the buyer credit will help.
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Old 10-27-2009, 07:49 PM
 
259 posts, read 634,600 times
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BTW, if you default on a FHA loan within 3 years and you collected the 8,000.00 tax credit, you have to pay it back.
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Old 10-28-2009, 10:29 AM
 
1,552 posts, read 4,372,193 times
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Quote:
Originally Posted by Chubz View Post
BTW, if you default on a FHA loan within 3 years and you collected the 8,000.00 tax credit, you have to pay it back.
LOL yeah good luck with that.
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Old 10-28-2009, 10:53 AM
 
364 posts, read 777,765 times
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Quote:
Originally Posted by Chubz View Post
BTW, if you default on a FHA loan within 3 years and you collected the 8,000.00 tax credit, you have to pay it back.
What if FHA defaults within 3 yrs? Chances are it might..

Never mind.
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Old 10-28-2009, 11:48 AM
 
1,340 posts, read 3,512,008 times
Reputation: 450
Quote:
Originally Posted by MoorestownResident View Post
Have at it:


Existing homes sales also shot up 10% as reported earlier in the week.

10% over numbers that were DRASTICALLY low in 2008 already. haha. 2009 started off WORSE in NJ but has gained a LITTLE steam over 2008 numbers this summer so far. Still not near 2007, 2006, 2005 numbers...

But isn't that expected a LITTLE with a $8000 credit and artifical low interest rates?

Sadly I think they will extend the Credit and prolong this artifical pricing.
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