Mar 26, 2010 by MichaelS.Dunn.

Monday, 08 March 2010  by Property Wire

Residential property prices in the US increased 5% in February from a year ago despite an incoming wave of real estate owned property that lenders are dumping on the market.The increase in prices comes on top of a 2.3% yearly increase in January but prices are unchanged on a quarterly basis, according to the figures from the Clear Capital Home Data Index.‘If the increase in demand that preceded the end of the last tax credit is any indication, home prices may dip only slightly into negative territory before getting an added boost before the April tax credit deadline,’ said Alex Villacorta, senior statistician at Clear Capital.

Among the best performing areas is Providence, Rhode Island, where they increased 6.1% from the previous three months, the highest increase of any metropolitan statistical area (MSA). California had five of the 15 highest performing markets as Los Angeles prices gained 2.2% over the rolling quarter.In 11 of the top 15 markets REO saturation increased by an average of 1.3% but Villacorta said they do not seem to be harming the market. ‘We observed an expected increase in REO saturation this month as the flow of foreclosures continued to come into the market, while traditional non-distressed sales wait to be listed in the spring and summer months,’ he explained.

The price gains in the early months of 2010 contrast sharply with 2009, when credit lines were cinched, investments dropped in value and financial institutions facing failure dumped REOs onto the market, according to the report.Meanwhile the March edition of the Beige Book from the Federal Reserve shows that residential estate markets showed improvement but like many economic sectors, the unusually harsh winter weather across America this year slowed growth.

Improvement in the residential real estate market has been primarily in the low-end and starter home sector, the result of the extended homebuyer tax credit. The Philadelphia, Cleveland, Kansas City, and Dallas Federal Reserve Districts reported that sales were strongest in that sector, both due to the tax credit and the difficulty obtaining financing for higher-end homes. The St Louis and Richmond districts reported mixed results, but in Richmond, the district noted better weather might have created residential housing improvement.

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Mar 24, 2010 by MichaelS.Dunn.

FOR IMMEDIATE RELEASE: 

Company Name: Harmony Ventures, Inc.

Telephone Number:970-309-9249

Email Address: Mike@RoaringForkProperty.com

Web site address: www. RoaringForkProperty.com

Michael S. Dunn Earns NAR Short Sales and Foreclosure Certification Buyers and Sellers Benefit from REALTOR^® Expertise in Distressed Sales 

City, State, Date — Michael S. Dunn with Harmony Ventures Inc. has earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS^® offers the SFR certification to REALTORS^® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.

According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures.  For many real estate professionals, short sales and foreclosures are the new “traditional” transaction.  REALTORS^® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.

“As leading advocates for homeownership, REALTORS^® believe that any family that loses its home to foreclosure is one family too many, but unfortunately, there are situations in which people just cannot afford to keep their homes, and a foreclosure or a short sale results,” said 2009 NAR President Charles McMillan. “Foreclosures and short sales can offer opportunities for home buyers and benefit the larger community, as well, but it’s extremely important to have the help of a real estate professional like a REALTOR^® who has earned the SFR certification for these kinds of purchases.”  The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk, and provides resources to help REALTORS^® stay current on national and state-specific information as the market for these distressed properties evolves.

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Mar 21, 2010 by MichaelS.Dunn.

I just wanted to remind everyone that the free $ from the tax credits are going to expire on April 30, 2010.  For first time homebuyers, that means $8000 less towards your first purchase if you don’t get something under contract by the 30th.

This also applise to the $6,500 offered for folks who have lived in their current house for 5 years and want to buy a different home to be their primary residence.

If your on the fence about buying…take advantage of this free money while you still can!

-Mike

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Mar 20, 2010 by MichaelS.Dunn.

Welcome to WordPress. This is your first post. Edit or delete it, then start blogging!

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