Fannie Mae sees end to the housing slump
The Washington Post
Nov. 18, 2009
Fannie Mae, responsible for almost one in four U.S. residential mortgages, said the three-year housing slump may end in 2010 with an 11 percent jump in home sales as the economic recession is "unofficially" over.
The economic rebound will still be "relatively weak" compared with other recoveries from deep recessions, the District-based company said in an economic and housing forecast. Median home prices are still likely to fall next year, by less than 1 percent, as sales rise, Fannie Mae said.
Atlanta Business Chronicle - Nov. 18, 2009
Recent enthusiasm for the housing market is waning. The latest reports show mortgage applications and new home construction on the decline.
In the South, new home starts dropped 33.2 percent and new housing permits were down 24.5 percent compared with October 2008.
Breaking down the mortgage activity report, the index of home purchase applications sank nearly 5 percent last week to the lowest level since November of 1997 while refinance applications eased 1 percent even as refinancing expanded its majority of mortgage activity.
Published: November 13, 2009
Despite falling housing prices, the limits on what are considered conforming mortgages won't change for 2010.
To continue reading, go to: http://atlanta.bizjournals.com/atlanta/stories/2009/11/09/daily83.html?surround=etf&ana=e_article
Aided by the home buyer tax credit, the outlook for housing and the economy appears headed for a sustainable recovery, the National Association of Realtors said Friday.
To continue reading, go to: http://atlanta.bizjournals.com/atlanta/stories/2009/11/09/daily91.html?surround=etf&ana=e_article
Real Estate Outlook: Pending Sales Rise
Nov. 10.2009---------------------------------------A record jump in pending home sales -- pointing to higher numbers of closed transactions in the next two to three months -- tops the housing economic news this week.Read the Full Story At: http://realtytimes.com/rtpages/20091110_realestateoutlook.htm
ajc. 11-9-2009
"Compared with last year, median Atlanta home values are down 2.8 percent, but they have started edging up — rising 2.6 percent in the third quarter of this year, according to Zillow."
Home values creep up; not all areas share gains
News on the homebuyer tax credit…the House of Representatives has approved legislation that would extend and expand the credit. The House vote comes after the Senate voted yes on Monday night, and while there is more work to be done, word has it that an agreed upon bill should reach President Obama for his signature by the end of this week.
Under the proposal, individuals with income up to $125,000 a year and couples earning up to $225,000 would be eligible for the credit. The extension would cover homes under contract by April 30th and closed by June 30th, 2010. And as we had also predicted, the tax credit will be expanded to non-first time homebuyers as well. There are a few tweaks for non-first time homebuyers - the credit is reduced from $8000 to $6500, and they must have owned a home for at least five of the past eight years.
Remember - this is NOT final until the bill is signed by the President, and even if it is approved, it could contain further changes.
Kelli Harris
Senior Mortgage Advisor
Coldwell Banker Home Loans
Ph: 678-984-7304
Published: November 2, 2009
One measure of home sales rose for the eighth consecutive month in September, the longest streak since 2001.
To continue reading, go to: http://atlanta.bizjournals.com/atlanta/stories/2009/11/02/daily13.html?surround=etf&ana=e_article
Real Estate Outlook: Case-Shiller Index
Realty Times 11/3/2009---------------------------------------If you look at the latest Case-Shiller home price index numbers, which showed prices up in seventeen of the twenty markets it tracks and the fourth straight month of gains, you'd have to say: wow, how things have changed!Read the Full Story At: http://realtytimes.com/rtpages/20091103_realestateoutlook.htm
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