Found 7 blog entries for February 2009.
Single Family 2007 to 2008
Prices are in 1,000's
|Average Sales Price||Median Sales Price|
The final jury is not in until Obama signs the Stimulus plan but it appears the $15,000 Credit has been trimmed to amendment in the economic stimulus package that was sponsored by Sen. Johnny Isakson. The new revision is an $8,000 credit for first time home buyers. This is still great news. I can see first time homebuyers using this tax incentive in many ways:
1. First many first time Buyers in essence can use the incentive to pay their mortgage first their year or two in the property.
2. The incentive could be applied to points and pay down the already attractive interest rates to even lower rates. Can you say rates possibly in the 4% range with $8,000 to apply towards the loan it may be possible.
3. With today's markets at an all time…
Real estate market activity across the Northern Colorado and metro Denver market area continues to limp along waiting for the Federal government to throw a lifeline to the national housing market.
During the presidential campaign, Barack Obama said: “You can put lipstick on a pig, but it’s still a pig.” This “bail-out plan” conceived by two disparate political parties has that same feeling. Housing markets don’t magically change the path they are on my slapping some lipstick on them. They are slow moving entities composed of numerous elements i.e. mortgage lenders, appraisers, inspectors, etc. Not to forget the two key elements of any housing market are buyers and sellers. What has been missing from the market…
The the December Pending Homes Sales index reading today, from the National Association of Realtors, ose 6.3% to 87.7 from an upwardly revised reading of 82.5 in November. The December reading was 2.1% higher than December 2007 when it was 85.9.
Correspondingly NAR reported that the Housing Affordability Index rose 10.9% in December to 158.8, the highest national score on record. The index measures what a median income household can afford where 100 means that the median household can just afford a median priced home with 20% down at today’s average mortgage rates. At this higher level of affordability, median households can afford far more than the median home.
Both of the indicators are show nice movement for the year ahead. Th efirst indicator show…