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NAR: Pending home sales rise for second straight month

May 4, 2009 By Leave a Comment

First-time homebuyers are still taking advantage of the unbelievable real estate market conditions, pushing sales up 3.2 percent to 84.6 on the Pending Home Sales Index in March 2009, according to the National Association of Realtors®.

It’s 2.6 points higher on the index than in Feb. 2009 (82) and 1.1 percent more than March 2008 (83.7).

Lawrence Yun, NAR chief economist, had this to say about the latest progress:

“This increase could be the leading edge of first-time buyers responding to very favorable affordability conditions and an $8,000 tax credit, which increases buying power even more in areas where special programs allow buyers to use it as a down payment. We need several months of sustained growth to demonstrate a recovery in housing, which is necessary for the overall economy to turn around.”

Remember that the $8,000 tax credit for first time homebuyers is only available until Dec. 1, 2009. And with the market showing signs of life there is no telling how long the record-low home prices and interest rates will remain at their current levels.

Put simply, now is the time to cracking on your home search before it’s to late.

Head over to Foreclosure.com today to see what deals are available in your area at rock-bottom prices. We offer the best listings in the nation and give you total access to our massive database for seven days free with no strings attached.

So what are you waiting for? Click here.

Filed Under: 8000 tax credit, Foreclosure Deals, Foreclosure Investment Opportunities, Real Estate Trends

Report: Existing home sales dip; First-time buyers rise in March 2009

April 27, 2009 By Leave a Comment

The National Association of Realtors (NAR)® recently issued its latest report on the status of the national housing sales market for March 2009, revealing that existing home sales declined 3 percent to a seasonally adjusted annual rate of 4.57 million units.

That’s a 7.1 percent drop in Feb. 2009; however, remember that those figures were actually a huge surprise (an increase of 5.1 percent between Jan. and Feb. 2009), which was largely attributed to the enormous interest in discounted foreclosure homes.

In fact, the report indicates that distressed real estate is selling for about 20 percent less than traditional homes right now. That’s perhaps a conservative estimate — we are seeing a tremendous amount of deals that offer great savings between 30 and 50 percent listed on Foreclosure.com every day.

Regardless, it’s good news for those buyers who are currently searching for homes … even if there are less of them — they have more options from which to choose and less competition!

First-time homebuyers are apparently responsible for about 53 percent of the transactions in March 2009, demonstrating that record low home prices and interest rates, as well as limited-time government incentives, are luring them to get while the getting is good. And Lawrence Yun, NAR chief economist, is confident that the number will increase sooner rather than later.

Here’s a snip:

“The share of lower priced home sales has trended up, indicating a return of many first-time buyers, which we also see in a parallel member survey…. Buyer traffic has been rising, and real estate offices are getting phone inquires about the tax credit. By early summer we should be seeing a positive impact on home sales from record-low mortgage interest rates in addition to the stimulus provisions.”

Be sure to check out Foreclosure.com today and take advantage of our FREE 7-Day Trial to search for amazing home deals in your neighborhood at absolutely no cost. It’s better (and wiser) to get in on the action before everyone else does!

Filed Under: Foreclosure Deals, Foreclosure Investment Opportunities, Foreclosure Listings

$8,000 tax credit for first time homebuyers a success so far

April 17, 2009 By 1 Comment

While the final numbers may not be available for a few weeks or even months, a preliminary report released earlier this month by the Treasury Inspector General for Tax Administration indicates that the recently introduced $8,000 tax credit for first time homebuyers is working better than expected.

In fact, as of either March 6 or March 7, 2009, the Internal Revenue Service (IRS) it appears that about 1.4 million taxpayers intend to claim the the tax credit on their 2008 tax returns. And as Inman News points, out that’s very close to meeting or exceeding “the 2 million target set by lawmakers before it sunsets Nov. 30, 2009.”

Of course, taxpayers had until April 15, 2009, to claim the credit on their returns, which means that the estimated 1.4 million figure will likely increase. What’s more, buyers who buy between then and Dec. 1, 2009, can also pocket the $8,000 on their 2009 tax returns.

But there does appear to be a little confusion: Of the 567,685 households that claimed the tax credit, 38,158 weren’t eligible because they may have been homeowners in the last three years.

So be sure you know the requirements before filling out form number 5405!

For those who may be a little late to the party let’s do a quick reset of the $8,000 tax credit, which was part of the $789 billion American Recovery and Reinvestment Act of 2009 — a blockbuster stimulus initiative that is expected to boost employment and jumpstart the national economy.

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Filed Under: 8000 tax credit, Foreclosure Deals, Foreclosure Investment Opportunities, Foreclosure Listings, Foreclosure Tax Credit, Free Foreclosure List

Cheap foreclosures keep real estate agents and others busy (Video)

April 14, 2009 By Leave a Comment

Filed Under: Foreclosure Deals, Foreclosure Investment Opportunities, Foreclosure Listings, REO Deals, REO Properties

How to find the best real estate deals in your area!

April 8, 2009 By Leave a Comment

The two-year anniversary of what is now your premiere resource for distressed real estate information and education, Foreclosure.com’s “Investment Exchange” newsletter, is almost here.

We’ve come a long way since our debut, which is the reason we want to reset and touch on things that you may have missed along our journey in our April 2009 edition.

Regardless of what we cover each month, whether it’s short sales or tax lien certificates or some other interesting investing method, our primary goal is to always provide you with the tools and resources you need to achieve your real estate goals, whatever those may be.

And what the all often boils down to is how to find the best real estate deals in your area. So that’s exactly what we wanted to touch on in “Investment Exchange Two-Year Review.” We’re going back to the basics!

To check out Investment Exchange Two-Year Review today be sure to click here.

Remember that “Investment Exchange” is a FREE resource that Foreclosure.com provides its site visitors. Sign up to receive the educational real estate newsletter each month at no cost right here.

Filed Under: Foreclosure Advice, Foreclosure Investment Opportunities, Investing, Real Estate Investing, Real Estate Training
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