NEW YORK -(Dow Jones)- “The U.S. government just gave the ailing home builders a ray of hope.
The Federal Housing Administration is paving the way for first-time buyers to tap a federal tax credit of up to $8,000 for a downpayment. The announcement, made Tuesday before several thousand real-estate agents, could prove a game changer for the sluggish housing market for new and existing inventory.”
Full Article: FHA Decision Could Benefit Home Buyers, Builders
CNET just posted a lively article:
CNET May 14, 2009 4:00 AM PDT, Rafe Needleman
“There was, of course, a fundamental shift in user behavior after the bust. But it wasn’t all bad. Buying activity on Zillow went down, though site traffic went up. As Barton says, “Buyers are on the sidelines, but not passively.” They’re monitoring the market, he says, looking for the time to jump in, to either buy or sell. Like the Zillow site itself, physical open houses are crowded, he says. The browsing activity doesn’t get reflected in home transaction data. Neither sales volumes nor prices are going up, even if people are circling open houses and online real estate sites like buzzards.”
Full Article: Why Isn’t Zillow Dead?
- Julie McCullough Hale, Ticor Title and Escrow, RRNetwork.com
