Latest Updates: refinance RSS

 Print This Post
• 

  Looking Ahead – Top 10 Real Estate New Year’s Resolutions

  John Butzko 3:19 pm on January 7, 2010 | Comments:0 Permalink | Reply
  Tags: buyers (23), first time buyer (14), home prices (8), homebuyers (25), real estate market (100), refinance, sellers (12), tax credit (22)

  

  2010: Your year to get the most from the real estate market.

  As the page on our calendars turned to the fresh slate of 2010, Americans are starting to plan what will be a priority for them when it comes to real estate. Exciting things are happening in the market, and the next few months will bring an unprecedented number of opportunities and possibilities for the heads-up buyer or seller.

  While existing homeowners and potential homebuyers experience different situations and needs in regards to their future goals and expectations, we present the top 10 possible New Year resolutions to help point some in the right direction for a successful 2010 in real estate:

  1. Get in the Game – Join the nearly 18 percent of Americans who say they’ve resolved to become a first-time homebuyer in 2010, according to a new survey HERE.  With the homebuyer tax credit extension running until April 2010, this is an exceptional time to get in the game and become a homeowner. (More …)

  • 
   

  Reply Click here to cancel reply.

  Name (required)

  Email (required)

  Web Site

   
 Print This Post
• 

  Market In Review: The Wells Fargo ViewSM

  Ann Stickel 4:55 pm on November 30, 2009 | Comments:0 Permalink
  Tags: consumers (3), first time homebuyer tax credit (5), HAMP, home prices (8), homebuyer (2), mortgage lenders (2), Real Estate Settlement Procedures Act, refinance, RESPA, tax credit (22), wells fargo (4)

  Refinances and first-time homebuyer property sales largely contributed to third quarter volume

  Consumers were active in the housing market during the third quarter with refinance and purchase applications. Existing homeowners fueled the refi activity, and first-time homebuyers accounted for 43% of home purchases in August, according to the Sept. 18 issue of Inside Mortgage Finance.

  In a September 2009 Wells Fargo Home Mortgage survey, 56% of first-time homebuyers cited the $8,000 tax credit for their reason to purchase. Low interest rates drove 66% of these borrowers, and 74% attributed the decision to low home prices.

  

  In the same survey, renters shared their reasons for intending to purchase their first home within six months. Roughly 84% said low home prices were the reason, 74% cited low interest rates, and 72% referenced the tax credit as the key deciding factor.

  As of the publication date, there is still debate in Congress about whether the first-time homebuyer tax credit will be extended beyond the Nov. 30 deadline.

  When will local housing markets recover?
  Recent news released from the National Association of REALTORS® showed that pending home sales have increased for seven consecutive months based on contracts signed in August. In addition, the S&P/Case-Shiller Home Price Indices demonstrated that the annual decline in home price values continues to slow and that many markets have experienced some sustained monthly increases.

  (More …)

  • 
   
 Print This Post
• 

  Homebuyers Are Going Green

  Ann Stickel 11:13 am on September 25, 2009 | Comments:0 Permalink | Reply
  Tags: buyers (23), EEM, Energy Efficient Mortgage Home Owner Guide, Home Energy Rating System, refinance, sellers (12), wells fargo (4)

  

  Photo Credit: jenniferroberts.com

  Rising energy costs have consumers thinking about energy conservation and the green must-haves for their home.

  The Energy Efficient Mortgage (EEM) is federally recognized and has benefits for both buyers and sellers. Buyers can stretch their dollar with the energy-saving measures in the home that will help save on utility bills. Sellers who use an EEM to make improvements on their home will make older homes more comfortable and more attractive to buyers looking to go green. Homeowners looking to remodel or refinance also gain benefits from EEM by making improvements that will help save on utility costs and potentially increasing the resale value of the home down the road.

  According to the Energy Efficient Mortgage Home Owner Guide on the Housing and Urban Development Web site, buyers who qualify for a home loan may also qualify for the EEM. The guide also says that availability is not limited by location, home price or utility company. When applying for an EEM, a Home Energy Rating System report must be completed on the house. An energy appraisal is done by an inspector and the results are certified. More information about EEMs and case study examples are available at http://www.hud.gov.

  Tax credits also are available for energy-saving home improvement products placed in a home in 2009 and 2010.  For specific details visit http://www.energystar.gov/index.cfm?c=tax_credits.tx_index.

  Market In Review: The Wells Fargo View Sm
  

  • 
   
 Print This Post
• 

  Mortgage Originations Are Strong

  Michael Saunders & Company 2:12 pm on June 25, 2009 | Comments:0 Permalink | Reply
  Tags: lending (2), Market News (7), Mortgage (16), refinance, wells fargo (4)

  * News from our partner Wells Fargo

  Market in Review: The Wells Fargo View
  

  During the first quarter of 2009, the mortgage industry experienced strong origination activity due to a number of factors including the ongoing low interest rate environment, a drop in the national median home price, an abundance of homes on the market and new government programs that are available to encourage homeownership, as well as refinances.

  According to Inside Mortgage Finance, mortgage originations increased by 71%.  In total, an estimated $445 billion of single-family mortgage loans were made.

  Of the originations in first quarter, the May 29 issue of Inside Mortgage Finance showed that 78% of originations were for refinances and 22% were for purchase money mortgages.

  Credit and financing options continue to be available to qualified borrowers. Consumers should be aware that when obtaining a loan, it’s likely they will be asked to verify their income, demonstrate a solid credit history, and bring a down payment to the table.

  • According to results released by the National Association of REALTORS® on May 12, the national median home price of single family homes sold in the first quarter was $169,000, a 6.2% decline from fourth quarter 2008.

  • In addition, the Center for Housing Policy recently reported that between 2007 and 2008, the income needed to purchase a median-priced home dropped in 194 of 199 metropolitan areas.

  These factors appear to demonstrate that the tide may be turning and home inventories are stabilizing in some areas of the country.

  Read Full Article Here

  •