Home Price Reductions Level Off

The share of homes on the market with price reductions declined to an average of 21 percent as of Feb. 1, according to Trulia.com, which has been tracking the information since April 2009. This is a significant decrease compared to November 2009, when 26 percent of homes had at least one price reduction The total [...]

IRS Clarifies What’s Needed to Claim Tax Credit

The Internal Revenue Service has clarified which documentation taxpayers need to submit to claim the first-time and move-up homebuyer tax credit. While the IRS is still requiring the filing of Form 5405, it is not demanding that all parties’ signatures be on the HUD-1 settlement document in areas where requiring both the buyer and the [...]

Bankers: The End of Foreclosure Crisis is Near

The Mortgage Bankers Association is seeing signs that the foreclosure crisis is ending. “The continued and sizable drop in the 30-day delinquency rate is a concrete sign that the end may be in sight,” says Jay Brinkmann, MBA’s chief economist, in a published statement. Brinkmann said that normally there is a large spike in short-term [...]

Seattle, U.S. home prices rise: Case-Shiller report

Home prices across the U.S. rose for the seventh straight month in December, and were also up in Seattle, a sign of price stability as the housing market continues its bumpy road to recovery. The Standard & Poor’s/Case-Shiller 20-city home-price index released Tuesday rose 0.3 percent from November to December to a seasonally adjusted reading [...]

Construction Up Along With Builder Confidence

Construction of new homes rose to an annual rate of 591,000 in January, up 2.8 percent from December when the revised rate was 575,000, the Commerce Department announced Wednesday. Meanwhile, the monthly home builder confidence scale rose two points in February to 17. The National Association of Home Builders Chair Bob Jones said, “Builders are [...]

National Association of Realtors Resource to Reduce Short Sale Stress

According to the most recent REALTORS® Confidence Index, buyers continue to be discouraged with the extended short sale process, which frequently results in foreclosures that could have been prevented. New resources from the National Association of REALTORS® aim to help REALTORS® and consumers successfully navigate the short sale process to help more home owners avoid [...]

Home Prices Rise in Metro Areas

Home prices rose in more than a third of U.S. metropolitan areas in the fourth quarter, the National Association of Realtors said Thursday as it pointed to a “broad stabilization” in values. The median price for single-family home resales was up from a year earlier in 67 of the 151 U.S. metropolitan areas included in [...]

To boost sales of foreclosures, FHA suspends anti-flipping rules

Call it three birds with one stone: The federal government hopes to help low-down-payment home buyers, investors who fix up foreclosures, and communities burdened with too many bank-owned and foreclosed homes — all with one potentially far-reaching policy change. The Federal Housing Administration is revising its long-standing anti-flipping rules starting Feb. 1 and just might [...]

Picking the sweet spot in real estate

First the housing market tanked, eventually sending home prices down 30% from their 2006 peak. Then came warnings that commercial real estate would be the next shoe to drop — and that the problems could dwarf those in the residential market. Lately the signs of distress have become starkly visible: Prices of commercial property such [...]

In Pictures: The Severity Of The Foreclosure Crisis Depends On Where You Live

In Pictures: The Severity Of The Foreclosure Crisis Depends On Where You Live