Archive for July, 2009

Hurry to Take Advantage of the First Time Home Buyer Tax Credit

Friday, July 31st, 2009

If you are a first time homebuyer, you are entitled to a as a result of the “The American Recovery and Reinvestment Act” signed into law on February 17, 2009.

In order to take advantage of this program, you must CLOSE on your purchase by November 30, 2009. That only gives you 4 months to find a home, negotiate the contract, get your mortgage approved and close on the loan.

For more information on the specifics of the program go to

Call (708) 473-7688 or if you have questions, or need info on getting a mortgage or a refinance. Advice and answers are always free! :)


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New Home Sales Surge 11% in June

Tuesday, July 28th, 2009

Sales of new homes rose more than expected in June, up 11% – the largest increase since November 2008. This is the third straight month of gains and another indication that the housing market may be rebounding.

New home sales grew to a seasonally adjusted annual rate of 384,000 homes, above expectations of 355,000 homes. These reports are subject to revisions and errors and, according to the government, it can take up to 5 months to establish a new sales trend. But, many analysts are calling this a good sign.

On economist, Richard Moody of Forward Capital warned that home sales are still at “exceptionally low levels.” And, others caution that the housing market has a long way to go, especially in the face of rising unemployment.

Inventories of new homes fell 4.1% to 281,000 which represents a supply of 8.8 months. Sales rose in the Northeast (+29.2%), Midwest (+43.1%), and West (+22.6%) while falling in the South (-5.3%).


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