Southside Housing Alliance

“… Pending home sales increased for the second consecutive month. The Pending Home Sales Index is a forward-looking indicator. The data reflects contracts/pendings and not closings, which normally occur with a lag time of one or two months. The Index rose 4.3% based on contracts signed in August 2010, reaching 82.3. This is up from July 2010 when it was 78.9. Data is consistent with a gradual improvement in home sales in upcoming months …”

“…Existing-home sales rose in August 2010 following a big correction in July, according to the National Association of Realtors. Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 7.6% to an annual rate of 4.13 million in August from 3.84 million in July. The national median existing-home price for all housing types was $178,600 in August, up from a year ago…”

“…The economy is stabilizing. Home prices are holding. It’s not just as good a time as ever to buy a house. It’s one of the best times ever. Here are five overlooked reasons why now is a great time to buy a house…”

“…Fannie Mae’s latest national housing survey finds that most Americans believe the housing market has reached bottom. Seventy percent of Americans think it is a good time to buy a house and 67 percent continue to believe that housing is a safe investment. 78 percent believe that home prices either will remain flat or go up over the next year…”

“… Although the economy is soft and consumer confidence remains low, new data shows positive signs for the future. Here are 10 key facts to understand about today’s market:
4. The 30-year mortgage rate is at generational lows.
5. The national median-home price is stabilizing.
7. Home price-to-income ratios have returned to fundamentally justifiable levels. …”

“I have never quite understood what the American dream really means when it comes to housing. For some people, it means having a solid and fairly safe long-term investment that is coupled with the satisfaction of owning the house they live in. That dream is still alive. For people with a realistic version of the American dream, buying a house now can make a lot of sense…”

“…Did you know that the local real estate markets in Johnson County and Southern Marion County have performed better in 2010 than they did in 2009? If you read the local papers, you may have heard differently. Although the Daily Journal reported that home sales are down 34% – the markets in Johnson County and Southern Marion County are more than holding their own…”

“… Homeownership benefits individuals and families, strengthens our communities and is integral to our nation’s economy. Homeownership isn’t for everyone. But anyone who is able and willing to assume the responsibilities of owning a home should have the opportunity to pursue that dream, as people in this country have been doing for over 200 years…”

“… This opportunity for affordability cannot be missed. If interest rates are down it means your monthly payment is down and that should be a good motivator for anyone interested in buying. If you are looking to buy a $150,000 home and can lock in a 4.5% interest rate, your monthly payment is right around $1000/mo (including estimates for home owners insurance and property taxes); whereas, if you miss out on the 4.5% rate, and end up with a 6.75% rate, your monthly payment will be 20% higher, at over $1,200/mo. Don’t miss out on these historic low rates. If you want to buy, buy now. …”

“…There are lots of positives in the market and saying it’s slowed down doesn’t mean it’s shut off. There’s a lot of activity happening. Buyers are still in the market. People are still relocating. Interest rates are the lowest they’ve ever been, and jumbo rates are down. The housing market tends to move in cycles and as the kinks continue to work themselves out this fall, buyers and sellers will still find deals and sales will close if they find, and trust, an experienced agent to help guide them through the home buying and selling experience…”

“… Let me tell you a story about the real value of homeownership. My dad met my mom and they always had the dream of owning their own home. He bought my mom the home of her dreams as a gift of his love with the belief that it was better to pay off something that he owned with his wife and raise his kids there than to rent. Yep, we take a risk when we buy home. But I’ll bet you a dollar to a donut that the risk remains one of the best ones you’ll ever take in your life…”

“… Enough with the doom and gloom about homeownership. Sure, there might be more pain to come in the housing market. But when Time magazine starts running covers that declare “Owning a home may no longer make economic sense,” it’s time to say: Enough is enough. After all, at the peak of the bubble five years ago, Time had a different take. “Home Sweet Home,” declared its cover then, as it celebrated the boom and asked: “Will your house make you rich?” Here are 10 reasons why it’s good to buy a home in today’s market …”

“… Pending home sales have modestly risen following a sharp drop in the months immediately after the expiration of the home buyer tax credit. Affordability could reach a generational high in the second half of this year because of rock-bottom mortgage interest rates, helped partly by the Fed’s very accommodative monetary policy. The loan underwriting standards are tighter, but home buyers can improve their chances of getting a loan by staying well within their budget…”

“… Logistics firm plans 100-plus jobs in Greenwood. Illinois-based Caterpillar Logistics Services has told Greenwood officials that it plans to open the distribution center in December…”

“… The U.S. Department of Labor said Friday that Indiana posted the 2nd highest year-over-year percentage increase in employment, and also added the second-greatest number of jobs during the 12 months …”