Flippers, the real estate investors who buy homes on the cheap and quickly resell them at a profit, got a reprieve from the Federal Housing Administration. See this link to read on:
http://money.cnn.com/2011/12/29/real_estate/FHA_flipping_waiver/index.htm
Repeat buyers accounted for 63 percent of the home buying market in the last year according to the most recent Profile of Home Buyers and Sellers. Take a look at the profile of home buyers and sellers on this site.
http://economistsoutlook.blogs.realtor.org/2012/01/26/age-distribution-of-repeat-buyers/
With the economy in turmoil and mortgage money tight, it’s not easy to buy a home these days. Many are getting helping hands from their parents.
http://money.cnn.com/galleries/2011/real_estate/1112/gallery.parents-buy-children-homes/index.html
In brief, sales were up, inventory down to nearly 7-year lows, while the median transacted price was still lower than one year ago.
http://economistsoutlook.blogs.realtor.org/2012/02/22/existing-home-sales-mortgage-purchase-applications/#more-7200
Watch this video to get a good idea on the 2012 housing market. Conditions are still slow but “generating momentum.” Steady but modest improvement is expected through 2012. Let us know if you have questions about your own particular situation. We are here to help you make an informed decision.
http://money.cnn.com/video/pf/2011/12/21/pf_ate_real_estate_outlook_2012.cnnmoney/
Foreclosure filings and repossessions fell to their lowest level since 2007 last year.
Total filings were down 33% for the year to 2.7 million, according to RealtyTrac, the online marketer of foreclosed properties. Read this article for more details:
http://money.cnn.com/2012/01/12/real_estate/foreclosures/index.htm
As mentioned in this link, if you stay organized and focused and keep excellent records, you can take advantage of every tax break, deduction, and credit at your disposal. Just ask me for a top-notch tax consultant if you need answers about taking advantage of these breaks.
http://www.zillow.com/blog/2012-01-19/6-tax-breaks-every-homeowner-should-know/
In 2010, 27% of first-time buyers received a gift from a friend or relative to use toward their down payment. That’s up from 22% in 2009 and 23% in 2005, according to statistics from the National Association of Realtors. Here is the link to read further:
http://www.marketwatch.com/story/dont-let-down-payment-gifts-hold-up-your-mortgage-2011-12-19
Take a look at these recent positive reports: Sales of existing homes rose 12% year-over-year; home building spiked nearly 21% compared with 12 months ago; and mortgage rates hit record lows.
http://money.cnn.com/2011/12/23/real_estate/new_home_sales/index.htm?iid=HP_LN
Here is an interesting article. Out of all of the candidates, former Massachusetts Gov. Mitt Romney owns the most real estate, including a townhouse in Boston and a beachfront home in La Jolla, California. Take a look at this link to read more.
http://money.cnn.com/galleries/2012/real_estate/1201/gallery.candidate-homes/
