Market Trends Newsletter: January 2009 Edition
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| Supply | # Sold | % Change | Median. Sale PRICE (1000's) | % Change | ||||
| Mths | Previous Mth | Previous Year | Previous Mth | Previous Year | ||||
| Suffolk, NY | 22.50 | 484 | -33.70% | -33.52% | $320 | -8.57% | -16.88% | |
| Nassau, NY | 17.10 | 461 | -33.86% | -25.53% | $385 | -6.10% | -13.97% | |
| Queens, NY | 19.80 | 380 | -29.24% | -25.05% | $344 | -11.85% | -22.04% | |
| Central, FL | 23.63 | 957 | -33.77% | 17.71% | $148 | -11.48% | -33.06% | |
Senate OKs $15,000 Bonus for Home Buyers
Housing could get a big boost from the latest addition to the mammoth stimulus bill working its way through Congress.
Senate legislators unanimously approved a proposal Wednesday that would allow a tax credit for home buyers of 10 percent of the value of new or existing residences, up to a $15,000 limit. Current law provides for a $7,500 tax break but only for first-time homebuyers.
"It is time to fix housing first," said Sen. Johnny Isakson, R-G.
Isakson's office said the proposal would cost the government an estimated $19 billion. In all, the stimulus is now topping an estimated $920 billion.
In an op-ed that appears in Thursday’s Washington Post, President Barack Obama painted a dire picture if Congress fails to move quickly to pass the stimulus bill.
"This recession might linger for years. Our economy will lose 5 million more jobs. Unemployment will approach double digits. Our nation will sink deeper into a crisis that, at some point, we may not be able to reverse," Obama wrote in the op-ed titled, "The Action Americans Need."
Source: The Associated Press, David Espo (02/05/09)
Fannie Loosens Refinancing Rules
Fannie Mae plans to eliminate some credit-score requirements, scale back income-documentation standards, and waive the need for appraisals in some cases, starting on April 4.
The mortgage finance company believes the changes will allow more homeowners to refinance into new home loans at near-record low interest rates.
Analysts say the relaxed rules for loans that Fannie Mae owns or guarantees are unlikely to have a significant impact on mortgage-bond investors and mortgage insurers.
Source: The Washington Post, Jody Shenn (02/06/09)
© Copyright 2009 Information Inc.
Fannie Loosens Refinancing Rules
Fannie Mae plans to eliminate some credit-score requirements, scale back income-documentation standards, and waive the need for appraisals in some cases, starting on April 4.
The mortgage finance company believes the changes will allow more homeowners to refinance into new home loans at near-record low interest rates.
Analysts say the relaxed rules for loans that Fannie Mae owns or guarantees are unlikely to have a significant impact on mortgage-bond investors and mortgage insurers.
Source: The Washington Post, Jody Shenn (02/06/09)
© Copyright 2009 Information Inc.
Fannie Loosens Refinancing Rules
Fannie Mae plans to eliminate some credit-score requirements, scale back income-documentation standards, and waive the need for appraisals in some cases, starting on April 4.
The mortgage finance company believes the changes will allow more homeowners to refinance into new home loans at near-record low interest rates.
Analysts say the relaxed rules for loans that Fannie Mae owns or guarantees are unlikely to have a significant impact on mortgage-bond investors and mortgage insurers.
Source: The Washington Post, Jody Shenn (02/06/09)
© Copyright 2009 Information Inc.
Fannie Loosens Refinancing Rules
Fannie Mae plans to eliminate some credit-score requirements, scale back income-documentation standards, and waive the need for appraisals in some cases, starting on April 4.
The mortgage finance company believes the changes will allow more homeowners to refinance into new home loans at near-record low interest rates.
Analysts say the relaxed rules for loans that Fannie Mae owns or guarantees are unlikely to have a significant impact on mortgage-bond investors and mortgage insurers.
Source: The Washington Post, Jody Shenn (02/06/09)
© Copyright 2009 Information Inc.
