$8000 Tax Credit to Get Extended?
This article details how Palosi and co. are thinking about extending the homebuyer tax credit and potentially opening up the requirements to help all buyers, not just first-time home buyers. The extension talk will certainly heat up as the current deadline is less than 2 months away. “Yes, there is under consideration whether we extend the first time homeowners credit,” Pelosi said at a news conference Thursday. “And the question is, would that be just first time homeowners or would you open it up to other purchasers of homes.” Read mor

Phoenix-Area Home Prices Increasing?
While it’s too early to throw a “My home’s value has finally stopped declining” party…things are starting to turn in the Phoenix-area. The last few months have been very chaotic as first time homebuyers, investors and out-of-state folks looking for their retirement home have snapped up great deals all across the Valley. With plenty of good deals still around, I expect the activity to continue through the end of this year and 2010.

Mortgage Rates Remain Very Low
Freddie Mac today released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage averaged 5.04 percent with an average for the week ending September 24, 2009, unchanged from last week when it averaged 5.04 percent. Last year at this time, the 30-year FRM averaged 6.09 percent. The five-year ARMs (adjustable-rate mortgage) averaged 4.51 percent this week, unchanged from last week when it averaged 4.51 percent. A year ago, the 5-year ARM averaged 6.02 percent. “Mortgage rates held relatively steady at three-month lows this week,” said Frank Nothaft, Freddie Mac vi

Hurry! The $8,000 Tax Credit for 1st Time Homebuyers is Ending Soon
In the last 4 months, our team has seen a large jump in buyer activity and several of the buyers have been taking advantage of the $8,000 first-time homebuyer tax credit. Homebuyers who do not currently own a primary residence and have not owned one for the past three years are eligible for this tax credit until Nov. 30. So if you’re looking to buy a home and take advantage of this tax credit—TIME IS RUNNING OUT. A