Tag Archives: tax credit

Stocks Rise and Bonds Move Up as House Passes Home Buyer Tax Credit Extension

Written by: - November 5, 2009

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5 November 2009 ?Bonds opened up 19bps today and have remained strong well into the afternoon with a day change of up 18bps. With a day to absorb yesterday?s news that the Fed will keep interest rates near zero, mortgage bonds have bounced back significantly today. It is expected that the Mortgage Backed Securities program […]

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Senate Agrees to Extend Home Buyer Tax Credit

Written by: - October 30, 2009

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30 October 2009 ?Agreed Does Not Mean Passed – There is much optimism that the tax credit for first time home buyers will be continued into next year. Although the Senate has agreed on an extension and expansion of the program, it has not yet passed. As with any piece of legislation, the housing tax […]

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October Home Prices Rise, But A Full Recovery Remains Elusive

Written by: - October 27, 2009

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October Home Prices Rise, But A Full Recovery Remains Elusive

Chicago saw an increase in home prices from July 2009 to August 2009 of 1.7%, but a 12.7% decline of year over year prices. No matter who is pulling the data and how they chart it, the message is the same ? first time buyers and jobs.

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CPS Grants a Perk for Chicago School Teachers

Written by: - October 27, 2009

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CPS Grants a Perk for Chicago School Teachers

Did you know that CPS teachers are eligible for a grant of up to $7,500 that can be used toward closing costs of a home purchase? What a great way to give back to the teachers of Chicago who spend their days educating today?s youth.

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Realtors Push on Congress to Extend Tax Credit

Written by: - October 23, 2009

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23 October 2009 ?For buyers who want to take advantage of the First Time Home Buyer Credit that expires November 30th, 2009, this weekend is probably your last chance to get under contract to meet the deadline. The National Association of Realtors┬« has been lobbying on behalf of their members to extend and expand the […]

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September Home Values Fell as Sales Increased

Written by: - October 23, 2009

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September Home Values Fell as Sales Increased

Market watchers believe the next few months will be a mixed bag for buyers and sellers. If unemployment does not abate, distressed properties will continue to impact market pricing for months and even years in the future.

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Perspective Buyers, Traders Hopeful of Tax Credit Extension

Written by: - October 14, 2009

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14 October 2009 ?Today’s bonds opened down 47bps and, after staging a rally, they were pushed back down. We are currently down 37bps and are testing resistance levels. As recommended in recent posts, locking was the bias since we reached a low point in mortgage rates on 10/2/2009. While rates are up slightly, these are […]

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Home Buyer Tax Credit

Written by: - September 15, 2009

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15 September 2009 ? Some may not know that the $8,000 Home Buyer Tax Credit is set to expire on December 1st, 2009. As that day looms, many first time home buyers are heading out in search of their first home. Realtors, mortgage broker’s, home inspector’s, etc are all seeing a surge in the market. […]

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Thanksgiving Holiday May Cause Problems for First-Time-Buyer Tax Credit

Written by: - September 4, 2009

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Thanksgiving Holiday May Cause Problems for First-Time-Buyer Tax Credit

The first-time-buyer tax credit of $8,000 is scheduled to end effective December 1st, 2009, however the transaction must close by November 30th, 2009. This will impact both real estate agents and first time buyers. Realtors┬« and buyers may not realize the month of November is notoriously slow for underwriting as many companies are working at […]

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$8,000 Tax Credit a Plus, But Not a Decision Driver

Written by: - July 27, 2009

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$8,000 Tax Credit a Plus, But Not a Decision Driver

First-time buyers have been driving the market in Chicago for months. They are taking advantage of both the low prices and the nearly record breaking interest rates available to them. First-time buyers are also helping the market by buying homes from sellers wanting to also take advantage of the market by buying something larger. In […]

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Stimulus Bill Expands The First-Time Home Buyer Tax Credit

Written by: - February 19, 2009

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Stimulus Bill Expands The First-Time Home Buyer Tax Credit

President Obama has signed into law the economic stimulus bill. That meant its name has now been changed to American Recovery and Reinvestment Act. The $787 billion law has been greatly cheered and resoundingly booed by all sides of the political spectrum. It’s goal is to get the US economy going, and since housing is […]

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