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  • Home Buyer Tax Credit Information from IRS

    First-Time Homebuyer Credit Podcast: Sept. 30 Homebuyer Deadline: English Legislation enacted in July 2010 extended the closing deadline from June 30 to Sept. 30, 2010, for eligible homebuyers. Legislative changes in November 2009 expanded and extended the credit and also added documentation requirements for claiming the credit. Due to ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on September 20, 2010
  • Local Real Estate's Obituary Was Premature

    Did the sun shine on the northwest Michigan real estate market this summer? There are some signs that the clouds are parting. From June 1 to August 30, 2010, the Traverse Area Association of Realtors (TAAR) reports that LeelanauCounty boasted $31.5 million in total dollar volume sales of single-family homes. During that same period in 2009, the ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on September 14, 2010
  • Short Sales Tips for Sellers

    If you're thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a short sale. A short sale is one where the net proceeds from the sale won't cover your total mortgage obligation and closing costs, and you don't have other ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on August 30, 2010
  • 5 Reasons Homeownership Trumps Renting

    The seemingly endless run of bad housing news is discouraging some potential home buyers from considering a purchase. But the truth is that the advantages of homeownership have very little to do with investment gains. The best things about owning a home have a lot more to do with personal comfort and satisfaction. Here are five of them: · ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on August 30, 2010
  • National Home Prices are Firming Up

    The trend in firming home prices solidified in the second quarter with more metropolitan areas showing increases from a year ago, aided by a surge in home sales driven by the home buyer tax credit, according to the latest survey by the National Association of REALTORS®. In the second quarter, 100 out of 155 metropolitan statistical areas ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on August 11, 2010
  • Strategic Loan Defaults can damage your credit & more for years

    'Strategic Defaults' Can Damage Credit for Years Home owners who choose to default on their mortgage even though they can afford the monthly payments can expect to take a significant hit to their creditworthiness, some credit rating firms say. A record of the default — initially as much as 200 points — stays on a credit ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on August 2, 2010
  • Mortgage Rates hit an All Time Low 4.69%

    Average interest on a 30-year fixed mortgage fell to an all-time low of 4.69 percent this week, down from 4.75 percent a week ago, reports Freddie Mac. Although rates have held below 5 percent since early May, Michael Fratantoni of the Mortgage Bankers Association notes that demand for purchase loans has fallen in six of the past seven weeks and ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on June 27, 2010
  • Traverse City Real Estate Market Improves

    More Positive News for the Traverse City Area - Traverse City homes sales +8.71% from 2009!!! Despite all the gloom and doom we all still hear from the media Traverse City home sales are on the rise and expected to continue to do so.  From January 1st - May 30th 2010 Traverse single family home sales rose by 8.71% with 442 homes sold in ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on June 11, 2010
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