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Port St. Lucie - Sebastian - Vero Beach St. Lucie, Martin, and Indian River counties (Treasure Coast)
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Old 09-02-2010, 08:20 AM
 
Location: Port Saint Lucie
12 posts, read 20,593 times
Reputation: 13

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From FloridaRealtor.com

Florida Realtors® News

Could we see another buyer tax credit?

WASHINGTON – Aug. 31, 2010 – Housing and Urban Development Secretary Shaun Donovan said Sunday on CNN’s “State of the Union” that the administration would “do everything we can” to stabilize the U.S. housing market.

“The July numbers were worse than we expected, worse than the general market expected, and we are concerned,” Donovan said. “That’s why we are taking additional steps to move forward.”

Whether HUD will resurrect the first-time homebuyer tax credit is up in the air. “All I can tell you is that we are watching very carefully,” Donovan said on the show. “We’re going to be focused like a laser on where the housing market is moving going forward, and we are going to go everywhere we can to make sure this market stabilizes and recovers.”

Gov. Charlie Crist appeared on the same show and supported a new version of the homebuyer tax credit, saying it would “help enormously,” noting that Florida has the nation’s third highest foreclosure rate.

Donovan also said the Federal Housing Administration will launch an emergency loan program to help unemployed borrowers stay in their homes and a program to help underwater borrowers refinance.

Source: Bloomberg, Holly Rosenkrantz (08/29/2010)

© Copyright 2010 INFORMATION, INC. Bethesda, MD (301) 215-4688

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Old 09-02-2010, 12:04 PM
 
Location: Port Saint Lucie
12 posts, read 20,593 times
Reputation: 13
Pending home sales rise

WASHINGTON – Sept. 2, 2010 – Following a sharp drop in the months immediately after expiration of the homebuyer tax credit, pending home sales have modestly risen, according to the National Association of Realtors® (NAR).

The Pending Home Sales Index (PHSI), a forward-looking indicator, rose 5.2 percent to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June; it’s 19.1 percent below July 2009 when it was 98.1. Pending sales data reflects contracts and not closings, which normally occur with a lag time of one or two months.

“Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery,” says Lawrence Yun, NAR chief economist. “But the recovery looks to be a long process. Homebuyers over the past year got a great deal, and buyers for the balance of this year have an edge over sellers. For those who bought at or near the peak several years ago, particularly in markets experiencing big bubbles, it may take over a decade to fully recover lost equity.”

On the other hand, homes have not been this affordable in recent memory. “Affordability could reach a generational high in the second half of this year because of rock-bottom mortgage interest rates, helped partly by the Fed’s very accommodative monetary policy,” says Yun. “The loan underwriting standards are tighter, but homebuyers can improve their chances of getting a loan by staying well within their budget.”

The PHSI in the Northeast rose 6.3 percent to 62.5 in July and is 21.1 percent below a year ago.

In the Midwest the index increased 4.1 percent to 66.7 and is 25.7 percent below July 2009.

Pending home sales in the South rose 1.2 percent to an index of 86.3, and are 15.6 percent lower than a year ago.

In the West, the index jumped 11.6 percent to 95.0 and is 17.6 percent below July 2009.

The national index had fallen 29.9 percent in May and another 2.8 percent in June.

© 2010 Florida Realtors®
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Old 09-02-2010, 01:58 PM
 
Location: Orlando
8,176 posts, read 18,541,470 times
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Default Per the TOS

Per the Terms of Service

Copyrighted Material - Instead of copying-and-pasting articles, photos, or other material you find on the Internet, you should be posting links to those articles. Posting a snippet from the article and then the link is the appropriate way to post.
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Old 09-03-2010, 06:37 AM
 
Location: Port Saint Lucie
12 posts, read 20,593 times
Reputation: 13
I guess I have to learn how things get done in city data, I figure that by giving the entire story the people will not have to do extra work to know
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Old 09-03-2010, 01:18 PM
 
Location: Orlando
8,176 posts, read 18,541,470 times
Reputation: 49865
Quote:
Originally Posted by PlatinumProperties View Post
I guess I have to learn how things get done in city data, I figure that by giving the entire story the people will not have to do extra work to know
It's all in the Terms of Service
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Old 09-03-2010, 02:38 PM
 
Location: Port Saint Lucie
12 posts, read 20,593 times
Reputation: 13
Fla. population grows again
State added 21K residents following year-earlier drop of 56K in hopeful sign the worst of the recession has passed.
Fla. population grows again
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Old 09-03-2010, 02:39 PM
 
Location: Port Saint Lucie
12 posts, read 20,593 times
Reputation: 13
Mortgage rates hit decades low of 4.32%
Same story, different week: Average 30-year rates declined to a record low for the 10th time in 11 weeks

Mortgage rates hit decades low of 4.32%
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Old 09-03-2010, 04:18 PM
 
1,257 posts, read 4,576,691 times
Reputation: 1034
Quote:
Originally Posted by PlatinumProperties View Post
Mortgage rates hit decades low of 4.32%
Same story, different week: Average 30-year rates declined to a record low for the 10th time in 11 weeks

Mortgage rates hit decades low of 4.32%
It is not true!!! I have loan officers from Wellsfargo and Suntrust watching rate for me. It may apply to other areas. It doesn't apply to this area. I am so fed up with this kind of news now. It is low... then I called. The answer is No. We don't offer this kind of rate unless you agree to pay several points. The ugly truth is http://www.cbs12.com/articles/closin...gage-high.html

Last edited by LingLing; 09-03-2010 at 05:26 PM..
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Old 09-04-2010, 01:21 PM
 
Location: Port Saint Lucie
12 posts, read 20,593 times
Reputation: 13
you are right to a point, it is how low it can go depending on credit and financial level but with rate this low an average mortgage will be lower than before even if it not 4.32%
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Old 09-04-2010, 08:00 PM
 
135 posts, read 190,607 times
Reputation: 60
I got 4.50 for a second home with no points and they paid me a half of point for my rate. I never heard of it but I'll take it. It pays to have excellent credit!!
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