By ALAN ZIBEL
AP Real Estate Writer
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Gov't extends deadline for refinance program
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WASHINGTON (AP) -- The government is giving homeowners another year to refinance their loans under a little-used program designed to help borrowers whose homes have plummeted in value.
The Obama administration effort, known as Home Affordable Refinance Program, had been scheduled to end on June 10 but will now run out on June 30, 2011, the Federal Housing Finance Agency said Monday.
The program allows borrowers who owe up to 25 percent more than their homes are worth to refinance to lower interest rates.
It was originally projected to help 4 million to 5 million homeowners with loans owned or guaranteed by Fannie Mae and Freddie Mac. So far, it has helped around 220,000, according to the Treasury Department.
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Tuesday, March 2, 2010
Federal report says that D-FW home prices were up last year
Federal report says that D-FW home prices were up last year
11:04 AM CST on Thursday, February 25, 2010
By STEVE BROWN / The Dallas Morning News
stevebrown@dallasnews.com
Prices of homes purchased in the Dallas area rose by a smidgen in 2009, according to a federal report released Thursday.
The Federal Housing Finance Agency said that Dallas area home sale prices were up 0.43 percent at the end of last year compared with a year earlier. Nationwide, prices were down 1.2 percent in the same period.
Unlike other home price comparisons, the federal housing study only looks at home purchases financed with mortgages held by Fannie Mae and Freddie Mac – the big government-owned loan investors.
Dallas was one of three top 10 U.S. metro areas that had home price gains in 2009, according to the federal index.
Washington, D.C., had the biggest price increase at 10.55 percent, followed by a 3.71 percent increase in Houston.
Among major cities, the biggest price declines last year were in Miami, down 12.86 percent, and Phoenix, down 12.03 percent, according to the FHFA.
The quarterly federal housing index is different from the recently released Standard & Poor’s/Case-Shiller Home Price Index, which tracks the values of actual houses over time. The Case-Shiller index does not look at new home prices, which are included in the federal price measure.
Case-Shiller said that Dallas-area home prices were up 3 percent at the end of 2009 compared to a year earlier.
Dallas home prices are up about 12 percent during the last five years, the FHFA report said. And since 1991, overall home prices here have risen by more than 74 percent.
The country’s 10 largest home markets averaged a 3.7 percent price drop since 2004, according to the federal index But since 1991, home prices in the top 10 U.S. metro areas are up an average of 96 percent.
Top 10 U.S. home markets
Fannie Mae and Freddie Mac tracked price changes in major markets based on loans they hold.
City One-year change Five-year change Since '91
New York -2.47% 4.15% 149.58%
Los Angeles -0.04% -14.89% 81.99%
Chicago -8.41% -8.21% 88.95%
Houston 3.71% 21.63% 103.49%
Atlanta -2.63% -7.86% 66.08%
Washington, D.C. 10.55% -2.37% 130%
Phoenix -12.03% -16.5% 94.2%
Riverside, Calf. -5.69% -37.18% 37.86%
Dallas 0.43% 12.04% 74.43%
Philadelphia -0.66% 12.54% 115.37%
SOURCE: Federal Housing Finance Agency
11:04 AM CST on Thursday, February 25, 2010
By STEVE BROWN / The Dallas Morning News
stevebrown@dallasnews.com
Prices of homes purchased in the Dallas area rose by a smidgen in 2009, according to a federal report released Thursday.
The Federal Housing Finance Agency said that Dallas area home sale prices were up 0.43 percent at the end of last year compared with a year earlier. Nationwide, prices were down 1.2 percent in the same period.
Unlike other home price comparisons, the federal housing study only looks at home purchases financed with mortgages held by Fannie Mae and Freddie Mac – the big government-owned loan investors.
Dallas was one of three top 10 U.S. metro areas that had home price gains in 2009, according to the federal index.
Washington, D.C., had the biggest price increase at 10.55 percent, followed by a 3.71 percent increase in Houston.
Among major cities, the biggest price declines last year were in Miami, down 12.86 percent, and Phoenix, down 12.03 percent, according to the FHFA.
The quarterly federal housing index is different from the recently released Standard & Poor’s/Case-Shiller Home Price Index, which tracks the values of actual houses over time. The Case-Shiller index does not look at new home prices, which are included in the federal price measure.
Case-Shiller said that Dallas-area home prices were up 3 percent at the end of 2009 compared to a year earlier.
Dallas home prices are up about 12 percent during the last five years, the FHFA report said. And since 1991, overall home prices here have risen by more than 74 percent.
The country’s 10 largest home markets averaged a 3.7 percent price drop since 2004, according to the federal index But since 1991, home prices in the top 10 U.S. metro areas are up an average of 96 percent.
Top 10 U.S. home markets
Fannie Mae and Freddie Mac tracked price changes in major markets based on loans they hold.
City One-year change Five-year change Since '91
New York -2.47% 4.15% 149.58%
Los Angeles -0.04% -14.89% 81.99%
Chicago -8.41% -8.21% 88.95%
Houston 3.71% 21.63% 103.49%
Atlanta -2.63% -7.86% 66.08%
Washington, D.C. 10.55% -2.37% 130%
Phoenix -12.03% -16.5% 94.2%
Riverside, Calf. -5.69% -37.18% 37.86%
Dallas 0.43% 12.04% 74.43%
Philadelphia -0.66% 12.54% 115.37%
SOURCE: Federal Housing Finance Agency
How Do You Know If It’s Time To Buy?
How Do You Know If It’s Time To Buy?
March 2nd, 2010, 7:00 am
It’s still a buyer’s market, but you may be wondering if that means that now is the right time for you to start househunting. Will home prices drop even more? Perhaps speaking to your trusted REALTOR® will help? Will they have more information than you do?
Robin Jones blogs about factors you might want to consider when it comes to trying to figure out the real estate market.
“Even real estate experts can’t guarantee what the market may or may not do next week, next month, or next year. So, if they can’t tell you for sure what to expect, what makes you think you can outsmart the real estate market?
It’s like Vegas. The longer you wait, the more you might win, but eventually you have to quit while you’re ahead or the House wins. Pun intended!”
The end result is, there is really no way for anyone to know which way the market will turn. Just be sure you have as much information as possible, so you will be able to determine when you are ready to start househunting.
REALTOR.COM
March 2nd, 2010, 7:00 am
It’s still a buyer’s market, but you may be wondering if that means that now is the right time for you to start househunting. Will home prices drop even more? Perhaps speaking to your trusted REALTOR® will help? Will they have more information than you do?
Robin Jones blogs about factors you might want to consider when it comes to trying to figure out the real estate market.
“Even real estate experts can’t guarantee what the market may or may not do next week, next month, or next year. So, if they can’t tell you for sure what to expect, what makes you think you can outsmart the real estate market?
It’s like Vegas. The longer you wait, the more you might win, but eventually you have to quit while you’re ahead or the House wins. Pun intended!”
The end result is, there is really no way for anyone to know which way the market will turn. Just be sure you have as much information as possible, so you will be able to determine when you are ready to start househunting.
REALTOR.COM
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