Daily Archives: December 9, 2009

Nine Consecutive Gains for Pending Home Sales

Pending home sales have risen for nine months in a row, a first for the series of the index since its inception in 2001, according to the NATIONAL ASSOCIATION OF REALTORS®. The Pending Home Sales Index, a forward-looking indicator based … Continue reading

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Harvard Economist Predicts Prices Will Stay Low

Harvard University economist Edward Glaeser discusses with Money Magazine where home prices will move next. He argues that older, colder cities are unlikely to come back because their initial growth was tied to transportation costs. Now that few goods are … Continue reading

Posted in Foreclosures, general, Home Buyer Tax Credit 2009, Home Renovations, Housing Market News Update, mortgage, New York Real Estate, Short Sales | Tagged , , , , , , , , , , , , , , , | Leave a comment

Option-ARM Borrowers Facing Resets

About 93 percent of option-ARM buyers chose to pay a minimum amount less than the interest due, according to a report released last week by Standard & Poors. That means that nearly all of the 350,000 option-ARM borrowers now owe … Continue reading

Posted in Foreclosures, general, Housing Market News Update, mortgage, New York Real Estate, Short Sales | Tagged , , , , , , , , , , | Leave a comment