The $8000 first time homebuyer tax credit has been a boom to home sales, and few would argue that it has contributed to a stabilization of the markets.  Due to end the end of November, there is discussion everywhere about whether it will be extended or not.

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Freddie Mac's weekly mortgage rate survey is reported in this Wall Street Journal article, as well as a statement from Frank Nothaft, a Freddie Mac economist.  Mr. Nothaft says that this third consecutive week of decline may post a record annual low for the survey, which began in 1971.  With talk of a possible extension [...]

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One's misfortune is another's gain when it comes to home buying in Las Vegas these days.  Foreclosure homes, of which there is no shortage, are being snapped up by eager buyers.  New homes can't compete with the bargain pricing, and there's a great selection, with new inventory still flowing in to replace the sold homes.

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Disregarding any government tax credits and stimulus activity for the moment, there could be a significant difference in buying a home in December as opposed to January.  We're not accountants, and aren't giving tax advice, but talk to your accounting professional if you're considering purchasing a home in the last couple of months of the [...]

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This post is for both buyers and sellers, as both sides lose when a deal evaporates.  And, when it blows up just a week or so before closing because of denial of the mortgage loan, it's even more damaging.  Without placing blame, let's see how a deal can get that close to the closing table [...]

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