Obama signed the First-Time Home Buyer Tax Credit today. Congress both extended and expanded the First-Time Home Buyer Tax Credit program Thursday. The up-to-$8000 tax credit’s expiration date has been pushed forward to spring, requiring homebuyers to be under contract by April 30, 2010, and to be...

Active (for sale) on Phoenix-wide MLS database - 31,117 Pending (under contract) - 12,994 Sold in the last 30 days - 7,904 Foreclosures for sale - 4,278 Short sales for sale - 7,648

What is a tax credit? A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed. Unlike the tax credit that existed in 2008, this...

Once again, the country’s foreclosures are concentrated in just a few states. As reported by foreclosure-tracking company RealtyTrac.com, more than 50 percent of the country’s foreclosure-related actions in August occurred in just four states: * California : 25.76 percent * Florida : 17.4 percent *...

In what’s becoming a regular occurrence, housing data blew away economists expectations Tuesday. As reported by the National Association of Realtors®, the Pending Home Sales Index posted its 6th consecutive monthly gain in July. After a meteoric rise that started in January, the index is now at its...

What is REALLY going on with Phoenix area real estate?  Here are the statistics as of 8/17/2009 - Properties For Sale in Phoenix-Metro area: 31,383 Lender Owned (foreclosures) for sale: 4,631 Short Sales for sale: 7,364 Properties under contract: 12,602 - 18,641 if you count those still in their inspection...

Foreclosure-tracker RealtyTrac reports that the number of foreclosures nationwide rose 7 percent on a month-to-month basis last month. However, 3 states dominated the foreclosure list, tallying more foreclosures between them than the rest of the country combined. California : 30.0 percent Florida :...

Rer IRS Website: This year, qualifying taxpayers who buy a home before Dec. 1, 2009, can claim the credit on either their 2008 or 2009 tax returns. They do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date. They can claim 10 percent of the purchase...

As part of the stimulus package passed last week, Congress authorized a temporary increase to conforming loan limits in certain high-cost parts of the country. “High cost” is defined by a regions’ median sales price. With the temporary increase, a greater share of Americans can now qualify for...

FHA 203(k) Rehabilitation Home Mortgage loans are used to Purchase or Refinance and rehabilitate an existing One to Four family residences (Residence must be 1 year old) that will be used for residential purposes. FHA approved Condos are eligible as well. With Conforming loans a lender will not release...