Daily Real Estate News | October 29, 2009
Homebuyer Credit Gets New Life
Key lawmakers in the Senate have tentatively agreed to extend the existing $8,000 tax credit for first-time home buyers and also offer a new $6,500 credit for existing homeowners who have lived in their current residence for a consecutive five-year period in the past eight years.
Home buyers must be under contract by April 30, 2010, and close before July 1. House Democrats have expressed concern about the cost of the tax credit for the government, and allegations of abuse have resulted in an IRS probe of the program.
Source: Wall Street Journal, Corey Boles and John D. McKinnon (10/29/09)
© Copyright 2009 Information Inc.
Friday, October 30, 2009
Thursday, October 29, 2009
Interested in Sales Statistics for Mt Pleasant (Hawthorne, Thornwood, Valhalla and Pleasantville) this year?
Here they are! I pulled the data from the Westchester-Putnam Multiple listing service (MLS) as of today, 10/29/09 for the year to date:
One-Family homes/price range $350K - $700K
Solds: 66Avg Price: $541 / *DOM: 156
Sales Price / Listing Price = 96.21%
Conditional Contracts: 21 *DOM: 134
Pendings: 26*DOM 150
Actives: 86 / *DOM 117
*DOM = Days on Market
One-Family homes/price range $350K - $700K
Solds: 66Avg Price: $541 / *DOM: 156
Sales Price / Listing Price = 96.21%
Conditional Contracts: 21 *DOM: 134
Pendings: 26*DOM 150
Actives: 86 / *DOM 117
*DOM = Days on Market
Autumn is Here!
Autumn Décor Accents
By J. A. Young
Fall is the season of cool, crisp weather, brilliant scenery and bountiful harvests. Bringing the autumn indoors is a way to transform your décor with both subtlety and a richness of color and warmth. Here are a few ways you can add fall accents to your home.
Get Ornamental Gourds
Not just the requisite pumpkin for the porch, but several small to large ornamental gourds to be used as a dining room table centerpiece, as a coffee table prop and even to place here and there on the book shelves. Ornamental gourds come in many sizes and shapes and their appeal is great during the harvest season. Decorate with Flowers in Seasonal Colors
Add a wreath to the door abundant with fall blooms dried and interspersed on a grapevine. Consider hydrangea, yarrow and goldenrod for a warm welcome into your home. Also, place bouquets of dried flower arrangements throughout your home—each with fall colors for effect.
Celebrate the Season with Scented Candles
Find an old copper tub and fill it with water. Then add some novelty candles that float—apple-shaped and scented (available at large craft stores)—and scatter some autumn leaves around its base for accent. Add other scented candles around the house, in fall fragrances like nutmeg and spice.
Add an Extra Touch with Inexpensive Fabrics
Go shopping at antique stores or flea markets for fabric in gold, yellows, oranges, browns and reds. Make new curtains or an autumn tablecloth. Flea markets are great places to find old quilts in fall colors—even if it's not in great condition, it can be used for various autumn crafts.
By J. A. Young
Fall is the season of cool, crisp weather, brilliant scenery and bountiful harvests. Bringing the autumn indoors is a way to transform your décor with both subtlety and a richness of color and warmth. Here are a few ways you can add fall accents to your home.
Get Ornamental Gourds
Not just the requisite pumpkin for the porch, but several small to large ornamental gourds to be used as a dining room table centerpiece, as a coffee table prop and even to place here and there on the book shelves. Ornamental gourds come in many sizes and shapes and their appeal is great during the harvest season. Decorate with Flowers in Seasonal Colors
Add a wreath to the door abundant with fall blooms dried and interspersed on a grapevine. Consider hydrangea, yarrow and goldenrod for a warm welcome into your home. Also, place bouquets of dried flower arrangements throughout your home—each with fall colors for effect.
Celebrate the Season with Scented Candles
Find an old copper tub and fill it with water. Then add some novelty candles that float—apple-shaped and scented (available at large craft stores)—and scatter some autumn leaves around its base for accent. Add other scented candles around the house, in fall fragrances like nutmeg and spice.
Add an Extra Touch with Inexpensive Fabrics
Go shopping at antique stores or flea markets for fabric in gold, yellows, oranges, browns and reds. Make new curtains or an autumn tablecloth. Flea markets are great places to find old quilts in fall colors—even if it's not in great condition, it can be used for various autumn crafts.
Thursday, October 22, 2009
Positive News in the Housing Market?
Positive Trends: is the Housing Market Headed for Recovery?
By Deanna Sletten
After four months of rising home sales, the housing market is looking brighter. The National Association of Realtors reported that between April and July existing home sales experienced increases each month with July leading with a 7.2% increase. It has been five years since the real estate market has seen such an upward trend and it has led many in the industry to believe that the market has finally bottomed out and is heading for recovery.
Sales of Foreclosures Led the Way
Many factors prompted the rise in sales over the past four months. Sales of foreclosure and distressed homes were up 31% in July because of their affordability. First-time home buyers accounted for 30% of the July sales so they could qualify in time for the $8,000 tax credit. Low mortgage interest rates also contributed to the surge in sales. With a market full of affordable homes to choose from and low interest loans available, home buyers are
taking advantage of the deals and buying nicer homes they might otherwise have not been able to afford.
Where Recovery is Felt the Most
Thirty-nine states saw sales increase over the last two quarters with some states, such as New York, Hawaii and Wisconsin, seeing an increase of 20% or more. Sales varied depending upon how heavily the areas were hit by the real estate crash. California, Michigan and Colorado saw a drop in sales by 6% even though other states saw increases in sales. In cities like San Diego, Phoenix, Orlando and Las Vegas where house prices have dropped significantly while incomes have stayed the same, the demand for foreclosure and lower priced homes has soared. Experts agree that the recovery will be slower for some areas than for others depending upon how hard the area was hit.
Will the Recovery Continue?
Even though the housing market looks as though it's on the way to recovery, experts caution that it may not see a significant upswing until the early part of 2010 when the economy is expected to pick up. Another factor that may help the recovery is dependent upon Congress extending the first-time homeowner tax credit past the November 30 deadline and into 2010 which is being lobbied for by two national organizations.
A total housing market recovery is dependent upon how quickly the economy picks up and how long interest rates stay low. But for now, economists are encouraged by the continued increase in sales and believe that the housing market is heading toward a recovery.
By Deanna Sletten
After four months of rising home sales, the housing market is looking brighter. The National Association of Realtors reported that between April and July existing home sales experienced increases each month with July leading with a 7.2% increase. It has been five years since the real estate market has seen such an upward trend and it has led many in the industry to believe that the market has finally bottomed out and is heading for recovery.
Sales of Foreclosures Led the Way
Many factors prompted the rise in sales over the past four months. Sales of foreclosure and distressed homes were up 31% in July because of their affordability. First-time home buyers accounted for 30% of the July sales so they could qualify in time for the $8,000 tax credit. Low mortgage interest rates also contributed to the surge in sales. With a market full of affordable homes to choose from and low interest loans available, home buyers are
taking advantage of the deals and buying nicer homes they might otherwise have not been able to afford.
Where Recovery is Felt the Most
Thirty-nine states saw sales increase over the last two quarters with some states, such as New York, Hawaii and Wisconsin, seeing an increase of 20% or more. Sales varied depending upon how heavily the areas were hit by the real estate crash. California, Michigan and Colorado saw a drop in sales by 6% even though other states saw increases in sales. In cities like San Diego, Phoenix, Orlando and Las Vegas where house prices have dropped significantly while incomes have stayed the same, the demand for foreclosure and lower priced homes has soared. Experts agree that the recovery will be slower for some areas than for others depending upon how hard the area was hit.
Will the Recovery Continue?
Even though the housing market looks as though it's on the way to recovery, experts caution that it may not see a significant upswing until the early part of 2010 when the economy is expected to pick up. Another factor that may help the recovery is dependent upon Congress extending the first-time homeowner tax credit past the November 30 deadline and into 2010 which is being lobbied for by two national organizations.
A total housing market recovery is dependent upon how quickly the economy picks up and how long interest rates stay low. But for now, economists are encouraged by the continued increase in sales and believe that the housing market is heading toward a recovery.
Subscribe to:
Posts (Atom)
