The NAR Existing Home Sales Report is out:)

Posted by on Aug 3, 2015 in Blog | 0 comments

The NAR Existing Home Sales Report is out:)

Some Highlights: •Existing Home Sales are up 9.6% over last year. •Homes Sold on Average in just 34 days! •Inventory now stands at a 5.0-month supply. •Distressed Sales made up only 8% of all sales.

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Update on Pending Home sales

Posted by on Jul 23, 2013 in Blog | 0 comments

Power South Realty your Real Estate experty

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September 2012 month’s inventory

Posted by on Oct 19, 2012 in Blog | 0 comments

Here is a perfect example of supply and demand:) Lower inventory + lots of buyers and local/national investors = higher Real Estate Values

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U.S. sues Wells Fargo over FHA-insured loan defaults

Posted by on Oct 10, 2012 in Blog | 0 comments

The U.S. government has sued Wells Fargo in a New York court, accusing America’s largest mortgage lender of misrepresenting the quality of thousands of loans in order to be eligible for federal loan insurance. The lawsuit, filed Tuesday in federal court in Manhattan, seeks to recover “hundreds of millions of dollars” that the Federal Housing Administration (FHA) paid out after borrowers defaulted on Wells Fargo mortgage loans. The bank had applied for FHA insurance for the loans, meaning that if the loans went bad, the bank could ask the...

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Home prices build to new peaks in dozens of U.S. markets

Posted by on Oct 9, 2012 in Blog | 0 comments

As U.S. home prices begin to edge up after largely falling for years, prices in a smattering of cities are already at all-time highs, new data show. More than 100 metropolitan areas hit their peak home prices in July and a few did in June, according to data through July from mortgage tracker Lender Processing Services. Those areas include Pittsburgh and Anchorage. Another 50 areas are within 2 percent of their previous peaks, LPS’ home price index shows, including: Austin; Denver and Boulder, Colo.; Indianapolis; and Portland, Maine. Many...

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Real estate investors plan to buy more

Posted by on Sep 21, 2012 in Blog | 0 comments

Despite rising prices and shrinking foreclosure inventories, 65 percent of active real estate investors plan to buy as many homes over the next 12 months as they bought in the previous 12 months, according to a survey conducted by ORC International for and Memphis Invest. Founded in 1938, ORC International has conducted the CNN|ORC International poll since 2007. Future activity The survey found that 39 percent of active investors intend to increase their purchases over the next twelve months, while 26 percent plan to buy as...

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New guidelines to help condos get FHA loans

Posted by on Sep 20, 2012 in Blog | 0 comments

Many first-time homebuyers consider condos a good home when starting out, but loans issued by the Federal Housing Administration (FHA) that come with relatively low downpayments have not been offered in many condo buildings. FHA approval for a condo is more complicated the FHA approval for a single-family home. To minimize its risk, FHA looks at more than the unit requesting a loan – it also considers traits of the association itself. Associations can help individual condo sellers get an FHA loan by becoming certified, but fairly stringent...

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Starting Jan. 1, short sales may carry hidden cost

Posted by on Sep 17, 2012 in Blog | 0 comments

According to the U.S. Internal Revenue Service (IRS), a homeowner who owes money to a mortgage lender is given something akin to a gift when the lender cancels out some mortgage debt through a short sale. As a result, the IRS sees that forgiven money as income and could tax it accordingly. A 2007 law designed to help homeowners specifically forbids the IRS from taxing forgiven money on a principal residence, however, since people who can’t afford to keep their home generally can’t afford higher taxes less than a year later. But that law...

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Amendment 4 would help first-time buyers

Posted by on Sep 4, 2012 in Blog | 0 comments

What is Amendment 4? Amendment 4 is a constitutional amendment on Florida’s ballot this year. This proposal will lower property taxes for new homebuyers and spur much-needed economic growth in the housing market by offering a healthy new exemption for first-time homebuyers. Amendment 4 will also protect working families, small businesses and homeowners from unfair and unexpected tax increases by helping to stop “recapture,” a tax gimmick that increases property taxes even when property values decline. Finally, Amendment 4 will lower...

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