Archive for May, 2010

Tax credit boosts U.S. existing homes sales 7.6 percent in April

According to the National Association of Realtors (NAR), homes sales for the month of April exceeded expectations, in part due to the home buyers tax credit offered by the Obama administration. The tax credit program for first-time and repeat home buyers expired April 30. Home sales rose 7.6 percent over the previous month.

“The upswing in April existing home sales was expected because of the tax credit inducement, and no doubt there will be some temporary fallback in the months immediately after it expires,” said NAR chief economist, Lawrence Yun.

Yun also maintains that there were other elements bolstering the housing market and enticing home buyers. “For people who were on the sidelines, there’s been a return of buyer confidence with stabilizing home prices, an improving economy and mortgage interest rates that remain historically low,” he said.

The NAR further reported that homes sold at a seasonally adjusted annual rate of 5.77 million units in April. This was the best showing in five months and better than the 5.36 million in March. In addition, sales were up 22.8 percent from sales of 4.70 million in April 2009.

Posted by Sharon Walker

May 26th, 2010 |

Fixed-rate mortgages are first-rate with refinancing homeowners

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In its quarterly report published earlier this month, Product Transition, Freddie Mac related that in the first quarter of 2010, fixed-rate mortgages were the loan of choice by 95 percent of homeowners refinancing. Of those new mortgages, most were 30-year fixed-rate, although many chose 15-year or 20-year contracts.

Freddie Mac vice president and chief economist Frank Nothaft commented,

“Average interest rates on 30-year and 15-year fixed-rate mortgage loans remained extraordinarily low during the first quarter, averaging 5 percent and 4.38 percent respectively. With fixed-rate interest rates near a generational low and initial rates on hybrid adjustable rate mortgages close to fixed-rate levels, large numbers of homeowners have chosen fixed-rate loans for refinance.”

In choosing these refinance terms, homeowners feel better equipped to meet their monthly obligation knowing both the principal and interest payments will remain constant over the course of the loan. Many borrowers are now anticipating paying down their mortgage faster by opting for a shorter loan term as well.

TALK BACK: Have you refinanced your home loan, and did you choose a fixed rate or adjustable rate mortgage? Which do you prefer and why? Post your comments below.

Posted by Sharon Walker

May 25th, 2010 |

Seattle, WA – Whatcom County Housing Update for April 2010

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County: Whatcom	Year to Year Comparison
Month	Apr-2009	Apr-2010	% Change
% Sold Price to List Price	96%	96%	1%
Sold Listings	165	193	17%
Listing Price Per Listing	$ 297,489	$ 273,463	-8%
Sold Price Per Listing	$ 284,135	$ 263,754	-7%
Sold Price Per Sq Ft	$ 158	$ 158	0%
MLS Days On Market Per Listing	171	121	-29%
Available Homes on Market	1,945	2,121	9%

County: Whatcom	Month to Month Comparison
Month	Mar-2010	Apr-2010	% Change
% Sold Price to List Price	97%	96%	0%
Sold Listings	210	193	-8%
Listing Price Per Listing	$ 272,409	$ 273,463	0%
Sold Price Per Listing	$ 262,903	$ 263,754	0%
Sold Price Per Sq Ft	$ 156	$ 158	1%
MLS Days On Market Per Listing	151	121	-19%
Available Homes on Market	2,022	2,121	5%

Talk with a local Seattle Real Estate Agent. Search for featured homes and condos in Seattle. Read a detailed community overview covering the Seattle, WA area. These numbers reflect single family (SFR) and condo homes only. All numbers are from the MLS and are deemed reliable but not guaranteed as of 5/19/10.

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Seattle, WA - Whatcom County Housing Update for January 2010 (ziprealty.typepad.com)
Seattle, WA - Whatcom County Housing Update for March 2010 (ziprealty.typepad.com)
Seattle, WA - Whatcom County Housing Update for February 2010 (ziprealty.typepad.com)

May 21st, 2010 |

Seattle, WA – Thurston County Housing Update for April 2010

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County: Thurston	Year to Year Comparison
Month	Apr-2009	Apr-2010	% Change
% Sold Price to List Price	97%	99%	2%
Sold Listings	185	231	25%
Listing Price Per Listing	$ 256,400	$ 246,011	-4%
Sold Price Per Listing	$ 249,886	$ 243,652	-2%
Sold Price Per Sq Ft	$ 133	$ 129	-3%
MLS Days On Market Per Listing	147	125	-15%
Available Homes on Market	1,737	1,966	13%

County: Thurston	Month to Month Comparison
Month	Mar-2010	Apr-2010	% Change
% Sold Price to List Price	98%	99%	1%
Sold Listings	272	231	-15%
Listing Price Per Listing	$ 247,003	$ 246,011	0%
Sold Price Per Listing	$ 241,913	$ 243,652	1%
Sold Price Per Sq Ft	$ 131	$ 129	-2%
MLS Days On Market Per Listing	112	125	11%
Available Homes on Market	1,870	1,966	5%

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Seattle, WA - Thurston County Housing Update for March 2010 (ziprealty.typepad.com)
Seattle, WA - Thurston County Housing Update for January 2010 (ziprealty.typepad.com)
Seattle, WA - Thurston County Housing Update for February 2010 (ziprealty.typepad.com)

May 21st, 2010 |

Seattle, WA – Snohomish County Housing Update for April 2010

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County: Snohomish	Year to Year Comparison
Month	Apr-2009	Apr-2010	% Change
% Sold Price to List Price	97%	98%	1%
Sold Listings	510	750	47%
Listing Price Per Listing	$ 327,242	$ 302,045	-8%
Sold Price Per Listing	$ 317,466	$ 296,663	-7%
Sold Price Per Sq Ft	$ 161	$ 154	-4%
MLS Days On Market Per Listing	175	127	-28%
Available Homes on Market	5,696	5,551	-3%

County: Snohomish	Month to Month Comparison
Month	Mar-2010	Apr-2010	% Change
% Sold Price to List Price	98%	98%	1%
Sold Listings	770	750	-3%
Listing Price Per Listing	$ 306,642	$ 302,045	-1%
Sold Price Per Listing	$ 299,453	$ 296,663	-1%
Sold Price Per Sq Ft	$ 153	$ 154	1%
MLS Days On Market Per Listing	127	127	0%
Available Homes on Market	5,416	5,551	2%

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Seattle, WA - Snohomish County Housing Update for March 2010 (ziprealty.typepad.com)
Seattle, WA - Snohomish County Housing Update for February 2010 (ziprealty.typepad.com)
Seattle, WA - Snohomish County Housing Update for January 2010 (ziprealty.typepad.com)

May 21st, 2010 |

Seattle, WA – Pierce County Housing Update for April 2010

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County: Pierce	Year to Year Comparison
Month	Apr-2009	Apr-2010	% Change
% Sold Price to List Price	98%	97%	-1%
Sold Listings	557	712	28%
Listing Price Per Listing	$ 250,275	$ 250,477	0%
Sold Price Per Listing	$ 244,668	$ 243,484	0%
Sold Price Per Sq Ft	$ 126	$ 124	-2%
MLS Days On Market Per Listing	150	137	-9%
Available Homes on Market	6,396	6,218	-3%

County: Pierce	Month to Month Comparison
Month	Mar-2010	Apr-2010	% Change
% Sold Price to List Price	97%	97%	0%
Sold Listings	770	712	-8%
Listing Price Per Listing	$ 247,560	$ 250,477	1%
Sold Price Per Listing	$ 240,992	$ 243,484	1%
Sold Price Per Sq Ft	$ 125	$ 124	-1%
MLS Days On Market Per Listing	134	137	3%
Available Homes on Market	5,941	6,218	5%

May 21st, 2010 |

Settlement is reached in first Chinese drywall lawsuit

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Nearly 18 months after the first reports of tainted Chinese drywall emitting foul smells and corroding electrical wiring, Knauf Plasterboard Tianjin Co (KPT) has reached a joint settlement with Beazer Homes USA, Inc.

Defective drywall, manufactured by KPT, had been used in some of the homes built by Beazer in southwest Florida. Beazer, among many other builders, was unaware of the condition of the drywall. Once problems began to arise, homeowners then pressed Beazer to make reparations, at the builder’s expense.

Beazer in turn has used the courts to receive financial compensation for the repairs that stemmed from KPT’s faulty product.

Partner Don Hayden of law firm Baker & McKenzie, which represents KPT, had this to say in a press release:

“KPT has been in discussions with builders in recent weeks seeking a reasonable solution to repair homes built with KPT drywall. The settlement with Beazer is part of KPT’s effort to get this issue behind them and move forward. It shows that a solution is possible when there is agreement on reasonable repair costs. This settlement is further proof of KPT’s commitment to cooperate with homebuilders, federal courts, regulators and official organizations. We will continue to work with these parties to ensure concerns pertaining to KPT drywall are addressed and properly fixed.”

KPT has been accused in nearly 200 lawsuits, by both U.S. homeowners and builders, of producing defective drywall, which rendered many homes valueless and unhealthy to occupy.

It’s been reported that KTP is in private settlement talks with as many as 10 other builders. The details of this first settlement is expected to be made public in the very near future.

Posted by Sharon Walker

May 21st, 2010 |

Seattle, WA – Kitsap County Housing Update for April 2010

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County: Kitsap	Year to Year Comparison
Month	Apr-2009	Apr-2010	% Change
% Sold Price to List Price	96%	97%	1%
Sold Listings	201	254	26%
Listing Price Per Listing	$ 304,835	$ 294,834	-3%
Sold Price Per Listing	$ 291,284	$ 285,286	-2%
Sold Price Per Sq Ft	$ 154	$ 154	0%
MLS Days On Market Per Listing	186	133	-28%
Available Homes on Market	2,027	2,028	0%

County: Kitsap	Month to Month Comparison
Month	Mar-2010	Apr-2010	% Change
% Sold Price to List Price	96%	97%	1%
Sold Listings	253	254	0%
Listing Price Per Listing	$ 292,947	$ 294,834	1%
Sold Price Per Listing	$ 281,380	$ 285,286	1%
Sold Price Per Sq Ft	$ 148	$ 154	4%
MLS Days On Market Per Listing	140	133	-5%
Available Homes on Market	1,915	2,028	6%

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Seattle, WA - Kitsap County Housing Update for March 2010 (ziprealty.typepad.com)
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May 20th, 2010 |

Seattle, WA – King County Housing Update for April 2010

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County: King	Year to Year Comparison
Month	Apr-2009	Apr-2010	% Change
% Sold Price to List Price	96%	97%	1%
Sold Listings	1,286	1,902	48%
Listing Price Per Listing	$ 433,149	$ 426,234	-2%
Sold Price Per Listing	$ 413,827	$ 412,892	0%
Sold Price Per Sq Ft	$ 209	$ 210	0%
MLS Days On Market Per Listing	134	110	-18%
Available Homes on Market	13,547	13,627	1%

County: King	Month to Month Comparison
Month	Mar-2010	Apr-2010	% Change
% Sold Price to List Price	96%	97%	1%
Sold Listings	2,022	1,902	-6%
Listing Price Per Listing	$ 441,255	$ 426,234	-3%
Sold Price Per Listing	$ 424,650	$ 412,892	-3%
Sold Price Per Sq Ft	$ 214	$ 210	-2%
MLS Days On Market Per Listing	117	110	-5%
Available Homes on Market	12,835	13,627	6%

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Seattle, WA - King County Housing Update for March 2010 (ziprealty.typepad.com)
Seattle, WA - King County Housing Update for January 2010 (ziprealty.typepad.com)

May 20th, 2010 |

Boston, MA – Worcester County Housing Update for April 2010

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County: Worcester	Year to Year Comparison
Month	Apr-2009	Apr-2010	% Change
% Sold Price to Asking Price	95%	97%	1%
Sold Homes	375	596	59%
Listing Price Per Home	$ 236,263	$ 265,532	12%
Sold Price Per Home	$ 225,158	$ 256,275	14%
Sold Price Per Sq Ft	$ 132	$ 144	9%
MLS Days On Market Per Home	170	154	-9%
Available Homes on Market	4,829	4,944	2%

County: Worcester	Month to Month Comparison
Month	Mar-2010	Apr-2010	% Change
% Sold Price to Asking Price	97%	97%	0%
Sold Homes	502	596	19%
Listing Price Per Home	$ 243,377	$ 265,532	9%
Sold Price Per Home	$ 235,127	$ 256,275	9%
Sold Price Per Sq Ft	$ 134	$ 144	7%
MLS Days On Market Per Home	149	154	3%
Available Homes on Market	4,489	4,944	10%

Talk with a local Boston Real Estate Agent. Search for homes and condos in Boston. Search for homes in Boston, MA area. Read detailed neighborhood profiles in Boston, MA. These numbers reflect single family (SFR) and condo homes only. All numbers are from the MLS and are deemed reliable but not guaranteed as of 5/19/10.

Related articles by Zemanta

Boston, MA - Worcester County Housing Update for March 2010 (ziprealty.typepad.com)
Boston, MA - Worcester County Housing Update for January 2010 (ziprealty.typepad.com)

May 20th, 2010 |

Archive for May, 2010

Tax credit boosts U.S. existing homes sales 7.6 percent in April

Fixed-rate mortgages are first-rate with refinancing homeowners

Seattle, WA – Whatcom County Housing Update for April 2010

Seattle, WA – Thurston County Housing Update for April 2010

Seattle, WA – Snohomish County Housing Update for April 2010

Seattle, WA – Pierce County Housing Update for April 2010

Settlement is reached in first Chinese drywall lawsuit

Seattle, WA – Kitsap County Housing Update for April 2010

Seattle, WA – King County Housing Update for April 2010

Boston, MA – Worcester County Housing Update for April 2010

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