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Fannie Mae: Housing is “on a sustained growth path”
While impending fiscal cuts at the federal level will likely put a damper on economic growth in the first half of this year, home-price growth and an increase in homebuilding suggest housing is "on a sustained growth path," according to a monthly economic outlook released by Fannie Mae's Economic & Strategic Research Group.
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Don't lower your standards just because homes are scarce
In low-inventory markets that are now common in many areas of the country, buyers might be prone to jump at a listing they wouldn't even consider if there were a lot of homes for sale.
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Closing delays costly when buying new home
Q: I have signed a contract to purchase a newly built home. The homes have been on the market for 420 days. My lender is having issues meeting the closing date agreed upon, and now the builder is charging me $300 per day for each day closing is delayed. Do I have any legal recourse to back out of the purchase?
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Real estate is still local -- and cyclical
Homes prices were up nationally in 2012 from a year ago. According to the S&P/Case-Shiller Home Price Indices, home prices continued to rise in the third quarter of 2012, marking six months in a row of increases.
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