Real Estate News

HUD has announced that the $8,000 first-time homebuyer tax credit can be used on select closing costs.

Consumers across the country can now take advantage of a Federal Housing Administration program to allow qualified home buyers to apply the $8,000 tax credit when purchasing a home. FHA will now permit its lenders to provide a short-term bridge loan that will let qualified home buyers use the tax credit to either make a larger downpayment above the FHA required 3.5 percent, cover closing costs, or buy down their interest rate.

As part of an effort to increase member benefits, the National Association of REALTORS® announces changes to the courses required to obtain NAR’s Resort and Second-Home Property Specialist (RSPS) Certification. Applicants no longer need to complete the RLI Tax Deferred (1031) Exchange course, but can use it towards elective credit if they have already completed the course.

California’s Tri-Valley region has been named a 2009 Ambassador City for its Tri-Valley Housing Opportunity Center.

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Existing-home sales increased 2.9 percent to 4.68 million units; strong buyer activity in lower price ranges.

A real estate lead generator service connects motivated sellers with real estate investors.

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Not all real estate lead generation companies have the same high standards as Wehavehomeleads.com.

A short sale can be a good alternative for homeowners who can no longer make their mortgage payments and hope to avoid foreclosure; however, navigating these long and often confusing transactions can be challenging for even the seasoned real estate professional.

News reports that the federal government is backing away from its plan to permit eligible borrowers to monetize the first-time homebuyer tax credit are off the mark.

Click here to view the "NAR Dues - Value Proposition" PowerPoint presented by Dale Stinton, NAR Chief Executive Officer, at the Board of Directors meeting on May 16, 2009, in Washington, D.C.