Noteworthy Real Estate News (weekly)
-
Foreclosures top record in 2009, no end in sight – MarketWatch
Foreclosures in The US were the worst they’ve ever been last year. Double what they were in 2007.
-
The number of U.S. residential properties receiving at least one foreclosure filing jumped 21% in 2009 to a record 2.82 million
-
2.21% of all U.S. housing units (1 in 45) received at least one foreclosure filing during the year, up from 1.84% in 2008, 1.03% in 2007 and 0.58% in 2006.
-
Saccacio said that monthly foreclosure filings peaked in July at 361,000, then declined for four months before rebounding in December. He said short-term factors, including trial loan modifications, state legislation extending the foreclosure process and an overwhelming volume of inventory clogging the foreclosure pipeline contributed to the second-half declines.
-
Just four states — California, Florida, Arizona and Illinois — accounted for more than half of the nation’s 2009 total, with more than 1.4 million properties receiving a foreclosure filing.
-
-
December Home Prices UP for Salt Lake
Home prices in December were up compared with the last few months.
-
Q4 Home Sales up for Davis County Again
For the second straight Quarter, Year over year home sales are up in Davis County Utah
-
More Luxury Homes are Selling in Davis County
Davis County Sold Prices Were Way up During December, and the gap between list and sold prices is seriously narrowing.
-
New RESPA Rules Regarding Good Faith Estimates
RESPA is doing things to give more transparnacy to the real estate industry.
-
Utah outlook on housing is improving – Deseret News
Home prices in Salt lake will likely decline this year, but the market bottom is past us, and prices will start going up in 2010 as there will be increased demand for Utah Real Estate
-
In Salt Lake County, we’ve probably touched bottom in 2009 and we’re going to see a slight improvement in 2010,” Jim Wood, director of the University of Utah’s Bureau of Economic and Business Research
-
In 2009, only 900 new single-family homes were built in Salt Lake County — the lowest level since the war years of the 1940s
-
Salt Lake County home sales this year will show some slight improvement over last year, he said
-
median housing prices in the Salt Lake metropolitan area peaked during the third quarter of 2007 at $246,600, dropping just over 11 percent over a two-year period to $218,900.
-
Wood predicted that home values along the Wasatch Front would continue to decline this year, falling another 3 percent to 5 percent.
-
This will bring the decline in median sales price of homes in Salt Lake County to 15 percent through 2010,” he said in the report. “By then, the price declines should be over, replaced by stable to slightly improving prices in 2011.
-
demand in the Utah housing market is on the upswing, as is the state’s overall population.
“Between 2010 and 2011, we’re going to have to build 100,000 new housing units in Utah to meet the needs of pent-up demand and growth by the end of 2011,” Nelson said.
-
The bottom has passed and we are going to be inching up, and 2011 and 2012 are going to be extraordinary years for homebuilding.
-
-
Fewer sellers cut US home prices, for now-Trulia | Reuters
Less price cuts are happening for real estate, this is a sign that real estate markets are improving.
-
Fraud with the Federal Housing Tax Credits – eRealEstate
-
- Last year, the only things that were required on Form 5405 to receive the home buyer tax credit were: Social Security Number, Address, and Contract Price….
- 580 people filed tax returns claiming the credit for children under 18. One of these kids was just 4 years old. Yeah, I bet he really bought a house, most 4 year olds I know can qualify for mortgage financing…
- More than 19,000 people filed tax returns claiming the credit for homes that they DID NOT purchase.
- And 74,000 people claimed the tax credit when they were not actually first time home buyers.
Now, with only those requirements, can anybody see any problems that might arise?
Well, thousands did.
-
-
The more money you can save up to buy your home, the less your mortgage payment will be. Learning to save, is something many Americans have problems with, but now this is required for home ownership.
-
Move Down Buyers Qualify for $6,500 Tax Credit Too
Buyers who have owned their homes for more than five years that are buying a smaller home, also qualify for the federal government tax credits.
-
Move up, move down, move sideways; it just doesn’t matter. Whichever direction you move, financially, you may still qualify for the new tax credit available to current homeowners. It is unfortunate that the credit has too often been characterized as a credit for “move-up” homeowners. The phrase carries the implication that the new home must cost more than the sale price of the former one.
-
the previous home must have been occupied as the buyer’s principal residence for at least five consecutive years out of the past eight years
-
You must have purchased (that is closed on) the replacement home sometime after 11/6/2009 and before 4/30/2010. With one exception: the new home will also qualify if you had entered into a binding contract no later than April 30, 2010 and you closed no later than June 30, 2010.
-
The tax credit is for 10% of the purchase price up to a maximum credit of $6,500 for joint filers and $3,250 for those filing separately.
-
full credit for singles whose income does not exceed $125,000 and for couples whose income is no more than $225,000.
-
The cost of the new home may not exceed $800,000.
-
The new home must be used as a principal residence for a three year period subsequent to closing, or else the credit must be repaid.
-
Posted from Diigo. The rest of my favorite links are here.
Leave a Reply
You must be logged in to post a comment.