What's Brewing?

Happy New Year,

I hope this is information is something you can use.

Valley banks, Habitat unite to cut foreclosure-home list - Some Valley lenders are making a small dent in the state's foreclosure inventory by helping non-profit organizations like Habitat for Humanity Central Arizona take bank-owned homes off the market. Some organize employee volunteers to renovate foreclosure homes for Habitat. Others make grants that allow Habitat to purchase bank-owned homes. And some banks even deeply discount or give away their foreclosure properties. National Bank of Arizona finished donating its first foreclosure home to Habitat this month. Read article:
http://www.azcentral.com/business/realestate/articles/2010/12/29/20101229valley-banks-habitat-unite-cut-foreclosure-home-list.html

Site to See: Federal Reserve's 'Credit Reports and Credit Scores' - There's a new source of credit score and credit report information in town and it doesn't try to sell you related services or use content to generate ad revenues. "Consumer's Guide to Credit Reports and Credit Scores" is a compendium of advertisement-free credit report and credit score content that earns the Feds a high score. Along with practical answers to questions about credit reports, credit scores, and the importance of protecting your credit history, the Fed's free online guide explains the contents of your credit report, tells you how and when a credit score is used, and discusses the role of credit bureaus in collecting and sharing your credit history. Read article:
http://realtytimes.com/rtpages/20101230_scores.htm



Blessings to all and Happy New Year.

From all of us at Fusco Realty

December Newsletter

First time buyers

Real Estate Outlook: First Time Buyers Size Down - The latest NAR report shows that existing home sales were up 7.6% during the month of August. The National Association of Home Builders (NAHB) shows that there is a growing segment of first-timers looking for smaller and less expensive new homes. And at 8.4 millions buyers, first-timers are a large market segment. Bob Jones, chairman of NAHB says, "Builders are increasingly gearing their homes to the needs of first-time buyers, and we expect the trend to continue in the period ahead as the economy begins generating more jobs and more people in their 20's form households. This demographic of first-time buyers are, on average, buying homes with 1,874 square feet, though a whopping 46% are buying homes smaller than 1,500 square feet. Read full article:
http://realtytimes.com/rtpages/20101004_realestateoutlook.htm

More "What's Brewing in Real Estate"

More news on "What's brewing in Real Estate"

Fannie Mae program designed to cut inventory concerns some - Faced with a large inventory of empty homes, Fannie Mae has a program aimed at selling its foreclosed homes. The program, HomePath, allows potential buyers to put down as little as 3-percent, but some believe the plan could actually lead to more foreclosures down the road. Valley Realtor Stanley Fosha does admit the Fannie Mae program has an upside. "With the program, there's the ability to get people in the house and get the house off the market which is great for the market, it could stabilize the market, but when it comes to these Fannie Mae homes, you look in any neighborhood and what's the lowest price, the Fannie Mae owned home." Read full article:
http://www.abc15.com/dpp/money/real_estate_news/fannie-mae-program-designed-to-cut-inventory-concerns-some

Real Estate Outlook: Clear Capital - It's no secret that the keys to a long-term housing recovery are a growing economy, more jobs and modest growth in home values. So it's significant that the latest numbers in all three of these area happen to be positive - they're not spectacular, but definitely pointed in a good direction. Last week's national Home Price Index from the real estate data firm, Clear Capital, found that housing values not only have stabilized in most parts of the country, but are gaining in many markets. In Barclays Capital's recent report on the "shadow inventory" of homes with seriously delinquent mortgages that haven't yet hit the REO market, researchers found the total inventory dropped for the fifth straight month. Read full article:
http://realtytimes.com/rtpages/20100913_realestateoutlook.htm

Homeowners insurance

I hope you all had a great Labor Day Weekend,


5 things you must know about homeowners insurance
1. Loyalty is overrated - check InsWeb.com and NetQuote.com for better deals. Consider moving your auto policy too; bundling home and auto coverage can cut your total premiums by 5% to 15%.
2. You may have too much coverage - For now, pass on inflation protection and adjust your coverage amount to a more realistic figure.
3. A bad rep can cost you - Insurers check national databases to see what claims you've filed in the past. Those records can be full of errors. Check your insurance report for mistakes.
Read full article to learn more:
http://money.cnn.com/2010/09/02/pf/homeowners_insurance.moneymag/index.htm