Homes and Dreams

Real Estate News Updates Week Ending 9/24/2011:

New Fees In Obama Plan Won’t Just Hit Millionaires | CNBC

The New Slap In The Face Of Foreclosure | HousingWire

10 Million More Mortgages Set To Default | HousingWire

Existing Home Sales Up 7.7% In August | HousingWire

How Many Mortgages Will The Twisted Fed Buy | CNBC

FHFA: Home Prices Hit 2004 Levels | HousingWire

Radar Logic Survey Shows Prices Remained Unchanged In July | HousingWire

Housing Slump Hits New Mortgage Loans | Wall Street Journal

Fannie Mae Cited For Failing To Stop Robo-Signing | CNBC

Millions Shut Out Of Mortgage Refinacing, Fed Study Shows| CNBC

NHMC: Housing Policy Must Adapt To Growing Renter Population | HousingWire

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Real Estate News Updates Week Ending 9/17/2011:

Freddie Mac Finalizes New Modification Option | HousngWire

HUD Awards Nearly $100 Million To Promote Jobs, Self Sufficiency, Independent Living For HUD-Assisted Housing Residents | HUD

HUD Asks Congress To Restore Housing Counselor Funding | HousingWire

The Road To Recovery Paved With PSAs | HousingWire

Record Low Mortgage Rates Don’t Matter | CNBC

Flood Of Foreclosures Headed To Housing Market | CNBC

Extension Of Conforming Loan Limits Fails In House | HousingWire

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The U.S. housing market has shown notable stability in 2011 compared to the previous two years when the tax credit made a clear impact. Although recent economic indicators have been less than expected, including a downward revision of GDP and consumer confidence that mirrors early 2009, owning a home is still valued by the majority of Americans. 72% of renters say owning is a top priority for their future, up from 68% a year earlier.

However, most aspiring homeowners are held back by two main factors: funds for a down payment (82%) and confidence in their job security (80%). Federal Reserve Chair Ben Bernanke emphasized the importance of a healthy housing market to a robust recovery. He stressed the adverse effects of tighter credit conditions for borrowers, urging Congress to take tax and policy measures to help stabilize the market. He also noted the significance of addressing long-term fiscal policies including debt levels, upcoming expenses to support an aging population, and taxes.

Buyers continue to benefit from historically favorable buying conditions, and sellers are encouraged by increased market stability. Although the Fed made a commitment to keep its interest rate at the current level until mid-2013, mortgage rates can, and often do, still fluctuate. In the midst of these reports, it is important to keep in mind the path to recovery was always expected to be a long and uneven road. As we progress toward a stronger recovery, economic improvement typically spurs rising interest rates in order to keep inflation in line.

Home Updating:

As the weather gets cooler, some homeowners could be considering undertaking home renovations or updates before the holiday season. Here are a few findings about updates and home sales:

~ Homeowners typically spend considerably more on updates to their home when planning to live in and enjoy it, with an average of nearly $9,000.

~ In contrast, they only spend an average of $3,400 when making updates in preparation to sell.

~ The most common updates sellers performed before listing were paint, flooring, and light fixtures.

~ Although the majority of buyers were least likely to compromise on the location, 16% were least likely to compromise on updates.

~ 75% of homes sold were either fairly updated or very updated.

~ Sellers began repairing their home 1 to 8 weeks in advance of listing.

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Real Estate News Updates Week Ending 9/10/2011:

Mortgage Rates Hit Record Lows In Freddie Mac Survey | Los Angeles Times

Critics Say Obama’s Jobs Plan Doesn’t Do Enough For Housing | HousingWire

New Index Tracks Metros With Growth In Real Estate Permits And Jobs | Inman

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. . . : : . . . . . . . . . . . . . . . : : : . . . . . . . . . . . . . . . : : . . .

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~ Please be sure to credit me and link back to this image if used ~
~ Please feel free to share a link to this image, but do not re-distribute image as your own ~

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