Hello and I hope you all had a happy and safe 4th of July. Summer is here and many of you are looking at moving before school starts. Here is a piece of an article I copied I thought many of you would like to see. If you are actively looking for a home, I am pretty confident that your experiance is that you are finding the homes have multiple contracts. If you don't act quickly the home is already gone. Here the is the article to substaniate that. So, getting yourself pre-approved is the first order of business before you go shopping. Let the shopping begin. Have a safe summer.
Pending Home Sales Rise Again, an article from Realtor Magazine Online, reports that pending home sales displayed a sustained upward trend, rising for four consecutive months, according to the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in May, increased 0.1% to 90.7. This is 6.7% higher than in May 2008. There hasn't been four consecutive months of gain since October 2004. "Closed existing-home sales have improved but are coming in lower than expected because some contracts are delayed or falling through from the application of new appraisal rules for many transactions," said Lawrence Yun, NAR chief economist. http://www.realtor.org/RMODaily.nsf/pages/News2009070101
Until next time,