New $15,000 Home Buyers Credit?
home buyers credit
Just when the end of of the $8,000 home buyer’s credit was about to expire, a new government giveaway has been proposed. It seems the government’s most successful and popular plans are cash give-a-ways! So, it’s only logical for the government to not only double the amount of the give-a-way, but to loosen the requirements as well! This is sure to be another ‘successful’ big government program.
With all the Government cash give-a-ways, it should come as no surprise that there is now legislation in both the Senate and the House that would expand the current $8,000 tax credit.
Many Homeowners Put Home Remodeling Plans on Hold
home remodeling
Economic uncertainty is prompting some homeowners to put their home remodeling plans on hold, according to a study by online publisher Remodelormove.com. Homeowners who have declining home equity or who are living in lower-value homes are postponing remodeling projects, while those with more financial resources are moving ahead with them.
Although 84 percent of homeowners said the nation’s economic woes are affecting their remodeling plans, 81 percent said they plan to go ahead with the upgrades. Nearly two-thirds (65 percent) expect to do some of the work themselves in an effort to keep costs down. San Diego events
San Diego Home Sales Up — Home Prices Down
San Diego home sales
According to DataQuick of La jolla, San Diego home prices for August fell by 7.1 % vs August 2008. The good news is that home sales in San Diego County rose by 5 percent in August, compared to the same month a year ago.
According to DataQuick, 21,502 homes were sold in the six-county Southern California region in August, down 10.8 percent from 24,104 in July and up 11 percent from August 2008.
Home Sales – When the Sales Price is Not the Whole Story
home sales
Home sales incentives are increasing
A majority of new-home buyers (92 percent) say they received sales incentives for their home purchase, according to a recent customer satisfaction study of home builders by J.D. Power and Associated. The average sales incentive amounted to more than $16,500 for perks such as a reduced base price for the home and credit toward additional upgrades and options.
San Diego home sales
Your Credit Score
credit scores
You know that your credit score is one of your most precious resources — a good score can open doors and save you money. But what if your score got a little bruised amid the recent credit crunch? Don’t fret. Max out your credit rating with these tips for repairing the damage.
- Order your credit reports from the top three credit bureaus — Equifax, Trans-Union and Experian. It’s likely that each is slightly different. Creditors aren’t required to report to all three credit bureaus, so they typically report only to the credit bureau to which they also subscribe. Read more
Home Foreclosures Up 18%
home foreclosures
Home foreclosures were up 18% in August vs. August 2008 as reported by RealtyTrac of Irvine, California.
One in every 357 U.S. households with loans got a foreclosure filing in August.
RealtyTrac is revising up its estimate for filings this year and now expects a more prolonged foreclosure crisis.
Some 3.4 million households will get a filing this year, up from the prior estimate of 3 million to 3.2 million, and sharply higher than 2.3 million filings last year.
If the forecast is realized, it will be more than four times the filings in 2005, before the deepest housing crash since the Great Depression began.
Rick Sharga, senior vice president at RealtyTrac said:
“We had been thinking that this year would be the peak, but at the rate things are going right now, it’s appearing more likely that late 2010 might be the peak year before things start to moderate. I don’t expect it to be that 2010 will peak and 2011 will be the wonderful land of Oz.”
California REOs dropped 32 percent from July, but the state continued to post the highest overall total with 92,326 properties with loans getting a filing.
RealtyTrac’s James Saccacio said:
“We also saw a record high number of properties either entering default or being scheduled for a public foreclosure auction for the first time.”