Existing-home sales rose in August following a big correction in July, according to the National Association of Realtors®. Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 7.6 percent to a seasonally adjusted annual … [Read more...]

Congress needs to act quickly to reauthorize and strengthen the National Flood Insurance Program for the long term to prevent undermining the fragile real estate market, the National Association of Realtors® testified to the Senate Committee on Banking, Housing and Urban Affairs today. The NFIP … [Read more...]

Homeowners who are underwater with their mortgage may find that relief is on the way from a bill strongly supported by the National Association of Realtors® that would impose a deadline on lenders to respond to short-sale requests. The legislation, H.R. 6133, "Prompt Decision for Qualification … [Read more...]

FICO Credit Scores are basically guidelines for loan approval but other factors affect underwriting decisions also. Some cases of factors that may make an underwriter more relaxed towards a lower FICO score can be a larger down payment, low debt-to-income ratios, an outstanding history of saving … [Read more...]

Following a sharp drop in the months immediately after expiration of the home buyer tax credit, pending home sales have modestly risen, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator, rose 5.2 percent to 79.4 based on contracts … [Read more...]

Homeowners who are underwater with their mortgage may find that relief is on the way from a bill strongly supported by the National Association of Realtors® that would impose a deadline on lenders to respond to short-sale requests. The legislation, H.R. 6133, "Prompt Decision for Qualification … [Read more...]

Both job creation and home construction can have a strong influence on the housing market. Changes in the aggregate level of employment and plans to build homes are used as indictors of future demand and supply, respectively. Layoffs or the fear of potential job losses can cause home sales to … [Read more...]

Too often the main goal in the real estate is to ‘sell' rather than ‘represent.' Way too many agents appear to have an undeclared mission statement that reflects salesmanship rather than representation of buyer or seller. Many state licensing boards innocently reinforce this by identifying the … [Read more...]

Although most real estate value is typically concentrated in the building, the property is important also. It should be as level as possible. Assuming the property is in a typical neighborhood, the lot should be more of a rectangular shape, no odd shaped lots or oddly situated lots. Yard sizes … [Read more...]

On February 18, 2009, President Obama announced his Making Home Affordable Program (MHA), designed to help up to 7-9 million families avoid foreclosure by restructuring or refinancing their mortgages. In doing so, the plan not only helps responsible homeowners behind on their payments or at risk of … [Read more...]