Tuesday, January 27, 2009

Home Sales Show Surprising Gain

Existing-home sales rose in December while inventory declined, led by a surge of sales in the West, according to NAR's latest report. Read more >

Tuesday, January 20, 2009

Tax Credit Changes Could Unleash Home Sales

More than half a million additional sales could result from an expanded and improved home buyer incentive. Read more >

Obama Adviser Sees Stimulus Effects Next Month

RISMEDIA reports President-elect Barack Obama's top economic adviser said Sunday that the incoming administration's proposed $825 billion stimulus package will pass within a month and will have some immediate effects. Continued

Tuesday, January 13, 2009

Freddie Extends Foreclosure Moratorium

Freddie Mac is extending the suspension of foreclosure sales and evictions on occupied single family and two- to four-unit properties covered by mortgages it owns until Jan. 31. Read more >

Fannie Tries Short Sales Over Foreclosures

Fannie Mae launched a pilot project in Phoenix and Orlando that sets out to reduce the number of foreclosures by pre-approving short sales. Read more >

Bill Aims to Stabilize Housing, Stem Foreclosures

A bill (H.R. 384) that embraces the need for righting the housing market was introduced Friday in the U.S. House of Representatives. "Housing has always led this country out of economic downturns, and this bill recognizes that the key to bolstering the overall economy is creating stability in the real estate markets," NAR President Charles McMillan says. Read more >

December 2008 Home Sales Report

For December there were 917 new detached residential listings added to our market. This number is down 18.2% from last month, and down 13.8% from December of last year. New homes on the market tend to decrease in the winter months. Despite the decrease in new listings, the overall market inventory remains over 5,200, only 5% lower than the same period last year. December 2008 shows a combined total of 899 Pending and Closed Sales in the Greater Albuquerque market area. This total is down from last… Continue reading December 2008 Home Sales Report" href="http://www.gaar.com/market_statistics/report/december_2008_home_sales_report1/">Continue reading "December 2008 Home Sales Report"

Tuesday, January 6, 2009

Signs of Letup in Home Price Slide

The decline in residential property prices appears to be slowing, according to preliminary data from First American CoreLogic. Read more >

Not All Borrowers Need 20 Percent Down

NAR last week issued an educational brief to news reporters to curb inaccurate reporting on the amount of down payment home buyers must come up with in today's mortgage climate. Although lending standards have tightened, a wide range of down-payment requirements are in effect today, depending on the borrower's financial situation and the type of product applied for. The minimum FHA down payment requirement, for example, is 3.5 percent.

Top 10 U.S. Rental Markets

Grubb & Ellis released its 2009 forecast this week. See what they say will be the top rental markets from 2009-2013 and what challenges are in store for commercial real estate. Read more >