Is the First Time Home Buyer Credit Coming Back?
August 30, 2010 by Katie Wethman · Leave a Comment
With the precipitous 27% drop in July housing sales, the first time home buyer credit is getting renewed interest from some heavy hitters in Washington, including Secretary of Housing and Urban Development Shaun Donovan, according to The Hill. Though admitting that just one month of numbers was too little data to say whether the credit [...]
Northern Virginia Real Estate Market Update – The Good, The Bad, The Ugly
August 5, 2008 by Katie Wethman · 1 Comment
It’s tough to interpret the market today. The Good: Inventory in Northern Virginia remained below the “balanced” mark of 6 months for the second month in a row, as sales increased. The PMI Mortgage Insurance Company has released its latest index which indicates ranks the liklihood of declining markets across the US. Our area got [...]
PMI Risk Index: 80% Chance of Rising Prices in Next Two Years
July 7, 2008 by Katie Wethman · Leave a Comment
PMI Mortgage Insurance Co released its latest U.S. Market Risk Index, which ranks likelihood of declining prices for the nation’s 50 largest metropolitan statistical areas (MSAs). PMI Mortgage Insurance Co is one of the largest providers of PMI in the US, so you better believe they spend a good chunk of time studying the market, [...]
Housing Bill: Senate Amendments Create Buying Incentives
April 4, 2008 by Katie Wethman · Leave a Comment
The senate started piling on amendments to a proposed housing bill that, if passed, would add some interesting incentives to buy. Of particular note is a proposed $7000 tax credit (not a deduction–a credit!) to anyone buying a foreclosed home (see my post: “I want to buy a foreclosure.”) A credit that size would indeed [...]
What is the State of The Housing Market? (Multiple Choice)
February 17, 2008 by Katie Wethman · 2 Comments
What is the State of the Housing Market? Please choose the best answer. A. Looks like the start of a recovery. NAR Q3 2007 Report indicates roughly half of US markets show an increase in median home prices. B. About flat, plus or minus 1%…OFHEO reports Home Prices down 0.4% in Q3 2007 C. We [...]
WSJ: "Beyond Auctions" Article on Buying Foreclosures
February 12, 2008 by Katie Wethman · 1 Comment
There’s a fantastic article today online in the WSJ: “Beyond Auctions: Ways to Buy Foreclosed Homes.” It explains why there are actually very few bargains to be had in foreclosure auctions, and why buyers (especially first time buyers) need to instead focus on bank owned property (REO). There’s a good list of do’s and don’ts [...]
2008 Regional Outlook: "Fundamentals Sound"
December 12, 2007 by Katie Wethman · 2 Comments
George Mason University has updated their 2008 Outlook for the Washington, DC, metro area. It’s fairly consistent with previous presentations (perhaps slightly more positive, in my opinion.) Here are the key findings: Local job market continues to be very strong, with Washington, DC, having the lowest unemployment rate of the largest 15 job markets (US [...]
