Fannie Mae sees housing upturn as “intact”

Despite some bumps in the road, the housing upturn is “intact” and rising home prices are expected to boost household net worth and offset fiscal tightening, according to a monthly economic outlook released by economists at Fannie Mae. Tight inventories continue to restrain sales of existing homes. Although the number of homes on the market …

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Sales of Distressed Properties Down in California, Equity Sales Up

Sales of Distressed Properties Down in California, Equity Sales Up In California, the sale of distressed properties slowed down as equity sales picked up in February after two months of decline, the California Association of Realtors (C.A.R.) reported this week. “A lack of inventory in the bank-owned (REO) and short sale market was a contributing …

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Try a new real estate price-cut strategy

During the bubble housing market, a price reduction was considered a stigma. This was a time when most listings sold reasonably quickly. A price reduction meant there was probably something wrong with the property. That’s not the case today. Price reductions are common. Often a search of the multiple listing service (MLS) will reveal more …

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August Pending Sales Decline After Spurt in Existing Sales

The National Association of Realtors’ (NAR) Pending Home Sales Index for August was 88.6, which is on par with last year’s pending home sales average for the year, according to NAR’s chief economist, Lawrence Yun. Yun says the index has been moving within a narrow range for the past several months. “There are improving factors, …

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