Hoover Real Esate

Light at the End of the Tunnel? U.S. Home Prices Rise for First time in 12 Months
RISMEDIA, March 25, 2009-U.S. home prices rose for the first time in 12 months, showing an increase of 1.7% on a seasonally-adjusted basis from December to January, according to the Federal Housing Finance Agency’s (FHFA) monthly House Price Index. December’s previously reported 0.1% increase was revised to a 0.2% decline, and for the 12 months ending in January, U.S. prices fell 6.3%, and the U.S. index is 9.6% below its April 2007 peak.
The FHFA monthly index is calculated using purchase prices of houses backing mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac.
For the nine Census Divisions, seasonally-adjusted monthly price changes from December to January ranged from -0.9% in the Pacific Division to +3.9% in the East North Central Division.
Month-to-month changes in the geographic mix of sales activity explain most of the unexpected rise in prices in January. The January home sales reflected in the FHFA data disproportionately occurred in areas with the strongest markets.
While it is difficult to perfectly control for changing geographic mix in estimating house price indexes, the data suggest that if one were to remove those effects, the change in home prices in January, while still positive, would have been far less dramatic.
It also should be noted that sales volumes, in absolute terms, were relatively low in the month. Accordingly, the estimation imprecision associated with the January estimate is relatively large and subsequent revisions to the monthly figure could be significant.
For more information, visit http://www.fhfa.gov/.

Hoover Real Estate Lease Purchase

There are still properties out there out there are for lease purchase. If you or someone you know is interested in a home give me a call.

Rod Hicks
Weichert, Realtors Access Realty
205 222 3500

Hoover Real Estate

If you are looking for a house give me a call we have some with zero down as well many others with lucrative terms.

Rod Hicks
Weichert, Realtors Access Realty
205 222 3500

Hoover Real Estate

Be wise when you sell or buy property. Get a Realtor involved they know the market and can help you make a wise decision.

Rod Hicks
Weichert, Realtors Access Realty
205 222 3500

Hoover Real Estate

A tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid. If you need more information let me know.

Rod Hicks
Weichert, Realtors Access Realty
205 222 3500

Hoover Real Estate Birmingham, Al

Wow what a month houses are still selling. Prices have been discounted and deals are out there. If you need help selling or buying a house give me a call.



Rod Hicks
Weichert, Realtors Access Realty
205 222 3500

Hoover Real Estate

Wow all you can say that there are some bargains out there. Just executed a contract that client bought a house for 65,000. 3 bedrooms and move in ready. Give me a call if I can help.

Rod Hicks
Weichert, Realtors Access Realty
205 222 3500