Market Update for 1/12/10
Market Snapshot
- Median price has seen an improving situation: Following a 59 percent peak-to-trough decline, California’s median price surpassed the $300,000 threshold in November, an increase of 2.4 percent in month-to-month comparisons, and the first year-to-year increase since August 2007.
- Sales also in healthy territory: Home sales in California returned to pre-peak levels in late 2008, and sustained them throughout 2009.
Losing a home? A tax bite may be next - U.S. Foreclosure filings have soared in recent years. In 2009, RealtyTrac estimates, 3.9 million Foreclosure notices were sent to American homeowners unable to make their payments, up nearly 22% from 2008.
It's a terrible problem, emotionally wrenching for many families. And, as if losing your home isn't bad enough, you may also get slammed by the U.S. tax code. Here's where the hit could hurt and how to minimize the pain.
Schwarzenegger proposes tax credit to spark new home building -More than 20,000 California homebuyers could get state tax credits up to $10,000 thisyear under a new stimulus proposed Wednesday by Gov. Arnold Schwarzenegger.
Taking and slow and Easy - A recent real estate report indicates that consumers may be taking their time house hunting this winter, which some economists believe could lead to a “double dip” in home prices. A recent report from the NATIONAL ASSOCIATION OF REALTORS® (NAR) showed that its pending home sales index declined 16 percent in November to a reading of 96, the first decline after nine consecutive months of gains.
The Year in Review - Here are the top events that, during 2009, made headlines in the residential real estate brokerage industry.
