Monday, June 22, 2009
Read the full May 2009 Monthly Market Report
US Department of Housing and Urban Development (HUD) announced a program that allows borrowers to use the first-time homebuyer tax credit for a down payment or closing costs on a FHA-insured mortgage. Currently, 10 state housing finance agencies, INCLUDING NEW MEXICO, offer a product buyers can use that will effectively monetize the tax credit for down payment purposes. For information on how a first-time homebuyer can use the tax credit for a down payment in New Mexico, please consult the New Mexico Mortgage Finance Authority webpage: use the tax.
Tuesday, June 9, 2009
Tuesday, June 2, 2009
April home sales rose 2.9 percent from the prior month, with markets in the Northeast and West showing the strongest gains. Read more from NAR's latest housing report. Read more >
Home Prices Fall in First Quarter; Pace of Decline Lessens Considerably
RISMEDIA, June 1, 2009—U.S. home prices fell in the first quarter of 2009 according to the Federal Housing Finance Agency’s (FHFA) seasonally-adjusted purchase-only house price index (HPI). The previously announced, but revised January and February indexes showed increases in house prices, which were Continued
Kiplinger’s Personal Finance magazine evaluated U.S. cities for their growth potential, analyzing their ability to hold onto jobs even if the economy softens further. With assistance from Kevin Stolarick of Martin Prosperity Institute, the magazine concluded that cities where there are a lot of white-collar jobs are surviving the downturn better than areas where much of the workforce is employed in manufacturing or service jobs. Stolarick says these creative-class jobs tend to help generate new businesses and that increases the vibrancy of the areas where they hold sway. This employment analysis combined with data about income growth and cost of living led Kiplinger’s to choose these 10 cities as the best places to live and work in today’s challenging economy:
1. Huntsville, Ala.
2. Albuquerque, N.M.
3. Washington, D.C.
4. Charlottesville, Va.
5. Athens, Ga.
6. Olympia, Wash.
7. Madison, Wis.
8. Austin, Texas
9. Flagstaff, Ariz.
10. Raleigh, N.C.
Source: Kiplinger’s Personal Finance (07/2009)