Tuesday, December 29, 2009
U.S. Economy: Confidence Rises as Consumers See Brighter Future - BusinessWeek
Dec. 29 (Bloomberg) -- Confidence among U.S. consumers improved in December for a second month as Americans grew less concerned about the immediate future, pointing to an economy that will keep expanding into 2010...
Monday, December 28, 2009
U.S. retail holiday sales up 3.6 percent: report - Yahoo! News
MONTREAL (Reuters) – U.S. retailers posted a better performance during the 2009 holiday shopping season, with sales as tracked by MasterCard Advisors unit SpendingPulse up 3.6 percent...
"Last year the economy and consumer spending were in free fall. This year we're talking about an environment that has stabilized, that has seen a leveling off," said Kamalesh Rao, director of economic research at Spending Pulse...
"Last year the economy and consumer spending were in free fall. This year we're talking about an environment that has stabilized, that has seen a leveling off," said Kamalesh Rao, director of economic research at Spending Pulse...
Friday, December 11, 2009
Great Time to Buy!
Interest Rates are low, Economy is improving, Home prices are down, Great Inventory Homes to Select from and Southeastern Builders is offering a Homebuyer Tax Credit Incentive.
Tuesday, November 10, 2009
U.S. Home Sales Rise to Two-Year High on Tax Credit (Update1) - Bloomberg.com
U.S. Home Sales Rise to Two-Year High on Tax Credit- Bloomberg.com
Nov. 10 (Bloomberg) -- U.S. home sales increased 11 percent to a two-year high in the third quarter as an $8,000 tax credit for first-time buyers boosted demand.
Sales of existing single-family homes and condominiums increased to 5.3 million at an annualized, seasonally adjusted rate from the previous quarter, the National Association of Realtors said today...
Monday, November 9, 2009
GREATER NASHVILLE HOME SALES UP 22.7 PERCENT
Major increase in closings is first since October 2006
There were 2,145 home closings reported for the month of October, according to figures provided by the Greater Nashville Association of REALTORS®. This figure is up 22.7 percent from the 1,748 closings reported for the same period last year. This is the first time since October of 2006 that Greater Nashville home sales have recorded and increase in home sales on a year-to-year comparison for the month.
Year-to-date closings through October are 17,598, and 18.4 percent decrease from the 21,581 closings reported through October 2008.
“It is truly welcome news that home sales in Greater Nashville increased so dramatically in October,” said GNAR President Mike Nichols. “And while one month does not make a trend, having a significant number of sales pending for the next month is also encouraging.'
“This is undeniable evidence that the $8,000 tax credit has been meaningful in stimulating home sales. There is no question that many of these sales were initiated due to the tax credit and it is certainly our hope that, with the expansion and extension of this tax credit through next spring, we will continue to see positive sales in the area.”
“This is really positive news for the area economy beyond those directly involved in the home sales transactions. Many new homeowners purchase appliances, furniture, floor covering, landscaping, lighting and other household items that help make their new house become their new home.”
Major increase in closings is first since October 2006
There were 2,145 home closings reported for the month of October, according to figures provided by the Greater Nashville Association of REALTORS®. This figure is up 22.7 percent from the 1,748 closings reported for the same period last year. This is the first time since October of 2006 that Greater Nashville home sales have recorded and increase in home sales on a year-to-year comparison for the month.
Year-to-date closings through October are 17,598, and 18.4 percent decrease from the 21,581 closings reported through October 2008.
“It is truly welcome news that home sales in Greater Nashville increased so dramatically in October,” said GNAR President Mike Nichols. “And while one month does not make a trend, having a significant number of sales pending for the next month is also encouraging.'
“This is undeniable evidence that the $8,000 tax credit has been meaningful in stimulating home sales. There is no question that many of these sales were initiated due to the tax credit and it is certainly our hope that, with the expansion and extension of this tax credit through next spring, we will continue to see positive sales in the area.”
“This is really positive news for the area economy beyond those directly involved in the home sales transactions. Many new homeowners purchase appliances, furniture, floor covering, landscaping, lighting and other household items that help make their new house become their new home.”
Thursday, November 5, 2009
House Extends Jobless Benefits and Home Credits - NYTimes.com
WASHINGTON — The House voted overwhelmingly on Thursday afternoon to offer up to 20 more weeks of unemployment benefits to those who have been out of work a long time, sending the measure to President Obama for his signature. The White House said that he would do so on Friday morning...
Monday, November 2, 2009
Pending Sales of Existing Homes in U.S. Rise 6.1% (Update1) - Bloomberg.com
NEW YORK (CNNMoney.com) -- The number of signed sales contracts to buy homes rose in September for the eighth straight month, according to a real estate industry report released Monday.
The September Pending Home Sales Index from the National Association of Realtors (NAR) spiked 6.1% to 110.1, consolidating a 6.4% gain in August. It was the index's highest level since December 2006, when it stood at 112.8...
Friday, October 30, 2009
Recession over? GDP grows 3.5% - Business First of Columbus:
The U.S. economy grew more than expected in the third quarter, according to the government's initial report on gross domestic product.
The Commerce Department said the nation's gross domestic product grew at an annual rate of 3.5 percent last quarter, the first positive quarterly growth in a year, and the largest quarterly advance since the third quarter of 2007. GDP contracted by 0.7 percent in the second quarter...
Thursday, October 29, 2009
Homebuyer Tax Credit Measure Backed by Administration (Update2) - Bloomberg.com
Oct. 29 (Bloomberg) -- The Obama administration endorsed plans to extend an $8,000 tax credit for first-time homebuyers, saying it is helping stabilize the nation’s housing market.
The tax break, enacted earlier this year as part of the $787 billion economic stimulus package, has “brought new families into the housing market and contributed to three consecutive months of rising home prices,” Treasury Secretary Timothy Geithner said today in a statement. The tax break will expire Nov. 30 unless Congress intervenes.
Senate Democrats have announced plans to extend the credit until April 30, while expanding it to include higher-income Americans and some who already own homes...
The tax break, enacted earlier this year as part of the $787 billion economic stimulus package, has “brought new families into the housing market and contributed to three consecutive months of rising home prices,” Treasury Secretary Timothy Geithner said today in a statement. The tax break will expire Nov. 30 unless Congress intervenes.
Senate Democrats have announced plans to extend the credit until April 30, while expanding it to include higher-income Americans and some who already own homes...
Tuesday, October 27, 2009
Home prices rise in most major cities in August - Yahoo! News
NEW YORK – Home prices rose for the third straight month in August, data Tuesday showed, a key sign for a broad and sustained housing recovery...
Tuesday, October 20, 2009
Fewer home-building permits, but Construction rose 7.1 percent in the South
Fewer home-building permits signal weakness ahead - Yahoo! News, but...
At the same time, the Commerce Department said Tuesday that construction of new homes and apartments rose 0.5 percent last month to a seasonally adjusted annual rate of 590,000 units...
Construction rose 7.1 percent in the South...
At the same time, the Commerce Department said Tuesday that construction of new homes and apartments rose 0.5 percent last month to a seasonally adjusted annual rate of 590,000 units...
The 0.5 percent rise in overall housing construction in September followed a 1 percent drop in August that was revised down from an initial estimate of a 1.5 percent gain.
Construction of single-family homes rose 3.9 percent last month to an annual rate of 501,000 units, reversing a 4.7 percent drop in August....Construction rose 7.1 percent in the South...
Thursday, October 15, 2009
U.S. Initial Jobless Claims Fall More Than Forecast (Update1) - Bloomberg.com
Oct. 15 (Bloomberg) -- The number of Americans filing first-time claims for unemployment benefits dropped last week to the lowest level in nine months, indicating the improving economy is leading to a slowdown in firings.
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Monday, October 5, 2009
U.S. Stocks Rise as Goldman Upgrades Banks, ISM Tops Estimates - Bloomberg.com
Oct. 5 (Bloomberg) -- U.S. stocks rose, rebounding from the first two-week decline since July, as Goldman Sachs Group Inc. recommended large banks and a report showed service industries returned to growth after 11 months of contraction...
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Tuesday, September 29, 2009
IMF says to revise up 2010 global growth forecast - Yahoo! News
SAO PAULO (Reuters) – The International Monetary Fund will increase its forecast for global growth next year in the next few days to account for a faster recovery in major economies, its deputy director said on Monday...
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Index shows home prices increase from June to July - Yahoo! News
EW YORK – A closely watched index of home prices shows year-over-year improvement for the sixth month in a row and prices in all 20 cities rose from June to July...
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Friday, September 25, 2009
New-Home Sales in U.S. Climb to Almost One-Year High (Upadte1) - Bloomberg.com
Sept. 25 (Bloomberg) -- Sales of new U.S. homes climbed in August to the highest level in almost a year...
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Consumer sentiment highest since Jan. 2008 - Consumer news- msnbc.com
U.S. consumer sentiment rose in late September to the highest since January 2008 as expectations of an economic rebound gathered momentum, a survey showed on Friday...
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Thursday, September 24, 2009
Existing home sales unexpectedly drop in Aug - BUT Compared to August last year, sales were up 3.4 percent.Yahoo! News
NAR Chief Economist Lawrence Yun described the decline as a "mild retreat" after a strong gain in July, adding that the August pace was the second-highest in 23 months. Compared to August last year, sales were up 3.4 percent.
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Fed slows housing market plan; rates to stay low - Yahoo! News
WASHINGTON – Signaling confidence in a recovery, the Federal Reserve decided Wednesday to stretch out the pace of a program intended to lower mortgage rates and prop up the housing market.
Even so, rates on home loans are expected to remain low.
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Even so, rates on home loans are expected to remain low.
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U.S. Initial Jobless Claims Decreased to 530,000 (Update1) - Bloomberg.com
Sept. 24 (Bloomberg) -- The number of Americans filing first-time claims for jobless benefits dropped unexpectedly last week to the lowest in two months, another sign firings are slowing as the economy pulls out of the recession...
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Wednesday, September 23, 2009
Real Estate Insights
Real Estate Insights: "Climbing Out of Recession
There’s been a flurry of good news about housing and the economy lately. Both home sales and pending sales have posted several consecutive months of increases. Mortgage rates continue to attract home purchasers. GDP growth is on track to turn positive later this year. But there’s more work to do before the economy can sit back and relax. In his commentary this month, NAR Chief Economist Lawrence Yun looks at the latest developments, where challenges remain, and some potential concerns down the road.
Click on the above link to read more!
There’s been a flurry of good news about housing and the economy lately. Both home sales and pending sales have posted several consecutive months of increases. Mortgage rates continue to attract home purchasers. GDP growth is on track to turn positive later this year. But there’s more work to do before the economy can sit back and relax. In his commentary this month, NAR Chief Economist Lawrence Yun looks at the latest developments, where challenges remain, and some potential concerns down the road.
Click on the above link to read more!
Monday, September 21, 2009
Leading economic indicators rise in August - Yahoo! News
NEW YORK – A private forecast of economic activity rose in August for the fifth straight month, the latest sign the recession has ended...
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Thursday, September 17, 2009
U.S. housing starts, permits at 9 month high - Yahoo! News
WASHINGTON (Reuters) – New U.S. housing starts and permits rose in August to their highest level in nine months and the number of people filing of unemployment benefits fell last week, evidence a solid economic recovery was underway...
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Wednesday, September 16, 2009
Stocks move higher as industrial production rises - Yahoo! News
Major indexes rallied throughout the spring and summer on signs that the economic downturn was easing, but investors are now looking for signs of actual growth to push stocks higher. Federal Reserve Chairman Ben Bernanke said Tuesday that the recession was likely over.
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Tuesday, September 15, 2009
Bernanke says recession 'very likely over' - Yahoo! News
Bernanke says recession 'very likely over' - Yahoo! News
Bernanke says recession 'very likely over'
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Bernanke says recession 'very likely over'
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Stocks rise on retail sales, manufacturing data - Yahoo! News
Stocks rise on retail sales, manufacturing data - Yahoo! News
NEW YORK – Better news on retail sales and manufacturing helped send stocks higher Tuesday, as did comments from Federal Reserve Chairman Ben Bernanke that the recession was probably over.
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NEW YORK – Better news on retail sales and manufacturing helped send stocks higher Tuesday, as did comments from Federal Reserve Chairman Ben Bernanke that the recession was probably over.
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Friday, September 11, 2009
U.S. consumer sentiment rises in September: survey - Yahoo! News
U.S. consumer sentiment rises in September: survey - Yahoo! News
NEW YORK (Reuters) – U.S. consumer sentiment rose in early September to the strongest in three months with growing expectations the economy will improve, a survey showed on Friday.
The Reuters/University of Michigan Surveys of Consumers said its preliminary index of sentiment for September rose to 70.2, the highest since June, from 65.7 in August. This was above economists' median expectation of a reading of 67.3, according to a Reuters poll.
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NEW YORK (Reuters) – U.S. consumer sentiment rose in early September to the strongest in three months with growing expectations the economy will improve, a survey showed on Friday.
The Reuters/University of Michigan Surveys of Consumers said its preliminary index of sentiment for September rose to 70.2, the highest since June, from 65.7 in August. This was above economists' median expectation of a reading of 67.3, according to a Reuters poll.
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Thursday, September 10, 2009
Mortgage rates dip to 3-month low: Freddie Mac | Special Coverage | Reuters
Mortgage rates dip to 3-month low: Freddie Mac | Special Coverage | Reuters
NEW YORK (Reuters) - U.S. mortgage rates dipped slightly in the latest week, reaching a three-month low and remaining at levels that should continue to spur home loan demand and help the hard-hit U.S. housing market to recover.
Interest rates on U.S. 30-year fixed-rate mortgages averaged 5.07 percent for the week to September 10, down slightly from the previous week's 5.08 percent, according to a survey released on Thursday by home funding company Freddie Mac. That is the lowest since 4.91 percent in the week ending May 28...
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NEW YORK (Reuters) - U.S. mortgage rates dipped slightly in the latest week, reaching a three-month low and remaining at levels that should continue to spur home loan demand and help the hard-hit U.S. housing market to recover.
Interest rates on U.S. 30-year fixed-rate mortgages averaged 5.07 percent for the week to September 10, down slightly from the previous week's 5.08 percent, according to a survey released on Thursday by home funding company Freddie Mac. That is the lowest since 4.91 percent in the week ending May 28...
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Wednesday, September 9, 2009
Tuesday, September 8, 2009
Sunday, September 6, 2009
MORTGAGE RATES NEAR RECORD LOWS
"Rates for 30-year home loans edged down this week, remaining close to record lows reached over the spring.
The average rate for a 30-year fixed mortgage was 5.08 percent, down from 5.14 percent a week earlier, according to mortgage company Freddie Mac on Thursday. Rates, while above the record low of 4.78 percent hit in the spring, are still at attractive levels for people looking to buy a home or refinance.
'Low mortgage rates are helping to keep housing very affordable,' said Frank Nothaft, Freddie Mac's chief economist.
To revive the economy, the Federal Reserve is spending $1.25 trillion on mortgage-backed securities, which has driven down rates on home loans. That money is set to run out by winter, though some analysts expect the central bank to gradually scale back its purchases, allowing the program to last longer.
Despite government efforts to prop up the mortgage market, qualifying for a loan is still tough. Lenders have tightened their standards dramatically, so the best rates are available to those with solid credit and a 20 percent down payment.
Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day.
The average rate on a 15-year fixed-rate mortgage fell to 4.54 percent, from 4.58 percent last week, according to Freddie Mac.
Rates on five-year, adjustable-rate mortgages averaged 4.59 percent, down from 4.67 percent a week earlier. Rates on one-year, adjustable-rate mortgages fell to 4.62 percent from 4.69 percent."
"Rates for 30-year home loans edged down this week, remaining close to record lows reached over the spring.
The average rate for a 30-year fixed mortgage was 5.08 percent, down from 5.14 percent a week earlier, according to mortgage company Freddie Mac on Thursday. Rates, while above the record low of 4.78 percent hit in the spring, are still at attractive levels for people looking to buy a home or refinance.
'Low mortgage rates are helping to keep housing very affordable,' said Frank Nothaft, Freddie Mac's chief economist.
To revive the economy, the Federal Reserve is spending $1.25 trillion on mortgage-backed securities, which has driven down rates on home loans. That money is set to run out by winter, though some analysts expect the central bank to gradually scale back its purchases, allowing the program to last longer.
Despite government efforts to prop up the mortgage market, qualifying for a loan is still tough. Lenders have tightened their standards dramatically, so the best rates are available to those with solid credit and a 20 percent down payment.
Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day.
The average rate on a 15-year fixed-rate mortgage fell to 4.54 percent, from 4.58 percent last week, according to Freddie Mac.
Rates on five-year, adjustable-rate mortgages averaged 4.59 percent, down from 4.67 percent a week earlier. Rates on one-year, adjustable-rate mortgages fell to 4.62 percent from 4.69 percent."
Friday, September 4, 2009
Wednesday, September 2, 2009
Tuesday, September 1, 2009
Monday, August 31, 2009
Saturday, August 29, 2009
Friday, August 28, 2009
Thursday, August 27, 2009
Wednesday, August 26, 2009
Tuesday, August 25, 2009
Monday, August 24, 2009
Friday, August 21, 2009
Thursday, August 20, 2009
Mortgage Rates at Lowest Since May - FOXBusiness.com
Mortgage Rates at Lowest Since May - FOXBusiness.com: "Title: Mortgage Rates at Lowest Since May
Published: Thu, 20 Aug 2009
Description: Pat Lashinsky of Zip Realty on the state of the mortgage market."
Published: Thu, 20 Aug 2009
Description: Pat Lashinsky of Zip Realty on the state of the mortgage market."
Real Estate Insights
Real Estate Insights: "Are We On the Road to Normalization?
By Lawrence Yun, Chief Economist, NAR Research
Ah, the dog days of summer. Many are taking advantage of their last chance this season to sit on the beach, hike in the mountains or laze by the pool before the kids go back to school and everybody has to go back to work. Well, while a lot of us have been on vacation, the housing market has been relatively busy compared to earlier this year and even last year at this time. Indeed, recent figures on home sales – both pending and closed indicate that housing market recovery prospects have improved considerably. Pending home sales (contract signings) in June released earlier this month rose again for a fifth consecutive month."
By Lawrence Yun, Chief Economist, NAR Research
Ah, the dog days of summer. Many are taking advantage of their last chance this season to sit on the beach, hike in the mountains or laze by the pool before the kids go back to school and everybody has to go back to work. Well, while a lot of us have been on vacation, the housing market has been relatively busy compared to earlier this year and even last year at this time. Indeed, recent figures on home sales – both pending and closed indicate that housing market recovery prospects have improved considerably. Pending home sales (contract signings) in June released earlier this month rose again for a fifth consecutive month."
Wednesday, August 19, 2009
Home Builder Confidence Rises to Highest Level in 14 Months - Economic Conditions, Builder Confidence, Sales - Builder Magazine
Home Builder Confidence Rises to Highest Level in 14 Months - Economic Conditions, Builder Confidence, Sales - Builder Magazine: "Home Builder Confidence Rises to Highest Level in 14 Months
NAHB/Wells Fargo Index also shows more assurance about future sales and buyer traffic."
NAHB/Wells Fargo Index also shows more assurance about future sales and buyer traffic."
Tuesday, August 18, 2009
Single-family home building rises for 5th month - Yahoo! News
Single-family home building rises for 5th month - Yahoo! News: "Single-family home building rises for 5th month"
Monday, August 17, 2009
Home sales grew in second quarter in 39 states - Real estate- msnbc.com
Home sales grew in second quarter in 39 states - Real estate- msnbc.com: "Home sales grew in second quarter in 39 states
But home prices across the nation are still soft versus a year ago"
But home prices across the nation are still soft versus a year ago"
Homebuilder sentiment at highest in a year - Real estate- msnbc.com
Homebuilder sentiment at highest in a year - Real estate- msnbc.com: "Homebuilder sentiment at highest in a year
Market sees buyers hurrying to take advantage of first-time buyer credit"
Market sees buyers hurrying to take advantage of first-time buyer credit"
Friday, August 14, 2009
Still Not Convinced- What about Mortgage Protection Insurance?
Did you know when you purchase a home you can have mortgage protection insurance? Do you have a fear of losing your job, disability or hospitalization? Mortgage Insurance might be for you. Contact Kevin Long at Bank of America to learn more. kevin.long@bankofamerica.com.
Wednesday, August 12, 2009
Tuesday, August 11, 2009
Monday, August 10, 2009
Construction, sales pick up in Gallatin
The Tennessean reported this weekend... According to Gallatin Codes Director Tony Allers, business for construction projects is picking up once again. “It’s not a landslide, but we’re getting something every day,” he said in a telephone interview Wednesday...“People are buying them, which is great for the city. The best example is Kennesaw Farms, but there’s also a townhouse/condo development on Long Hollow Pike…and (a development) on Lock-4 Road.”
Yeah! Check out the entire article here.
Yeah! Check out the entire article here.
Friday, August 7, 2009
Unemployment rate drops for the first time in 15 months
Time for Change
When Newsweek announced to the world on their cover at the end of July That the Recession is Over we took notice! Really if you think about it rates are lower now than in the peak of the housing market 2 years ago, housing inventory is better than in the peak market and there are more incentives to buy (can we hear it for the $8000 tax credit). Now sure we know there will be some recovery, but there are so many positive things to focus on today vs 6 months ago you can't help but feel good. We don't have to tell you- now is the perfect time to buy a home!
With the launching of this new blog we will give you proof of our belief that the Recession is Over and to hopefully turn you into a believer too.
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