July 6, 2016 rummy

Some Highlights: Sales of existing homes reached the highest annual pace in over 9 years at 5.29 million. Inventory remains below the 6-month norm and prices are still on the rise. Interest rates are at a historic low of 3.48%.   www.NYREEX.com    

July 19, 2013 rummy

Good Neighbor Next Door (GNND) is the new name for an old program. Most of you may know it as Teacher Next Door or Officer Next Door. In 2005 the program was changed to include firefighters and emergency medical technicians (EMTs). Highlights: • Specifically for designated HUD homes in revitalization areas • $100 down • 50% discount (provided by HUD as “silent second”) • “Silent second” released after buyer occupies as primary residence for 36 months • Active Duty Military Deployment is not considered an occupancy violation • All equity/profit is buyer’s after initial 36-month period • HUD doesn’t pay…

June 17, 2011 rummy

The U.S. housing market continues its gradual and uneven progress, despite the expiration of the home buyer tax credit. The remarkable rebound in housing activities from the initial drop following the end of the home buyer tax credit this past July adds to the belief that the risk of a double-dip downturn in housing may be disappearing. As the housing market continues to work through the excess supply overhang, a result from the glut of foreclosed properties which is keeping home prices below their long-term trend growth, economists anticipate mortgage rates at or above 6% by the end of 2012…