Moving can be one of the most expensive and life-changing financial transactions a family will make. While a move can be exciting, it is also very stressful — right up there with losing a job and the death of a loved one. Yikes. Of course, relocation services can take some of the worry off your […]
| Lawrence Yun , chief economist of the National Association of Realtors®, said the housing market clearly turned around in 2012. “Existing-home sales, new-home sales and housing starts are all recording notable gains this year in contrast with suppressed activity in the previous four years, and all of the major home price measures are showing sustained increases,” he said. |
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| The city that bore Warren Buffett is a great place to raise children — though there’s no guarantee they’ll grow up to be billionaire investors. Southwestern Omaha, in particular, is an idyll of good schools, tended sports fields and tidy cul-de-sacs. |
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The median price of an existing home climbed 10.1 percent to $177,400 from $161,100 in April 2011, the strongest year-to-year gain since January 2006. The median price in April reached its highest level since July 2010 when it was $182,100.
The inventory of homes for sale in April rose to 2.54 million, the highest level since last November, bringing the months’ supply of homes on the market to 6.6. |
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| Lenders are insisting on higher credit scores and more documents than required by the Federal Housing Administration and government-backed Fannie Mae and Freddie Mac. Quicken Loans Inc. and Vision Mortgage Capital are among firms saying they are increasing scrutiny of would-be borrowers in response to pressure to cover losses incurred on U.S.-backed housing debt. “You’ve got to take measures now to protect yourself,” John B. Johnson, chief executive officer of Birmingham, Alabama- based MortgageAmerica Inc., said during a panel discussion this month. Demands that lenders repurchase bad mortgages from Fannie Mae and Freddie Mac are “casting a pall over the market. I fear that it will face a much longer recovery because of this.” |
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| Part of the optimism shared by those in real estate is the relative steadiness of the local economy and the area’s low unemployment rate compared with the rest of the nation. “We don’t see the boom and we don’t see the bust,” said Valenti. “We always fall somewhere in between.” |
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| If you bought a home last year, you may be eligible for a tax credit of up to $8,000 when you file your 2010 tax return. But before you start shopping for hardwood floors, make sure you qualify. And even if you’re eligible, you’ll need to take extra steps to prove that your claim is legitimate. |
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