JULY 2010 Newsletter Housing Trends eNewsletter

JULY 2010 Newsletter Housing Trends eNewsletter

Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.

The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau and Realtor.org reports, videos, key market indicators and real estate sales statistics, a video message by a nationally recognized economist, maps, mortgage rates and calculators, consumer articles, plus local neighborhood information and more.

Please click here to view the JULY 2010 Newsletter Housing Trends eNewsletter.

If you are interested in determining the value of your home, click the Home Evaluator link for a free evaluation report.

Get Follow Me Buttons

Share on Facebook

Tags: enewsletter, housing market, housing trends, housing values

Looking for a reason to buy a home? How about these?

The economy is stabilizing and home prices seem to be holding. It’s not just as good a time as ever to buy a house, it’s a great time to buy a home!  Here are some key reasons why now is a great time to buy a house:

1. Low mortgage rates serve as an equity shock absorber. When buyers borrow at today’s record-low rates, they start building equity as soon as they close. That means they have a little give to absorb a few ups and downs as the still-recovering housing market gains traction.

2. Houses are in move-in condition. Homeowners have continued to spend on maintenance and repair, according to the Harvard Joint Center on Housing. Homeowners who have been holding back kept their houses in good shape while they waited. As those houses enter the market, they are in marked contrast to tattered foreclosures.

3. Terrific houses are coming on the market. Foreclosures are finally starting to clear the system – and this is just the opportunity that owners of many desirable properties have been waiting for.

4. Appraisal regulations are finally aligned with market realities. Fannie Mae has adjusted its appraisal guidelines…again. Now that appraisers have more flexibility to set values that reflect the current market, today’s deals will make it over the finish line.

5. Plenty of programs. Homes are more affordable than they have been for years, but communities have stuck by “workforce housing” programs that encourage middle-class families to buy houses. Buyers who qualify can get a big boost by combining one of these programs with today’s low mortgage rates.

Get Follow Me Buttons

Share on Facebook

Tags: buying a home, home buying

Governor Christie Signs Tax Cap Compromise

On July 13, 2010, Governor Christie signed a property tax cap into law which states that municipalities cannot increase their property taxes by more than 2.0 percent annually. There would be four limited exceptions to the property tax cap, which include healthcare and pension costs, as well as debt payments. Towns would also be granted leeway under the proposal in the event of an emergency, and voter approval of 51 percent would be required to exceed the cap. For further details, view the text of the bill.The state Legislature will now move forward in considering the 32 other bills included in the Governor’s property tax reform package. REALTORS^®, through NJAR^® , will continue to urge the Legislature to work with Governor Christie to enact proposals that will not only slow the rate property taxes increase, but eventually lower them.

Share on Facebook

Tags: Governor Christie, property tax, property tax cap