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Real Estate Outlook: Jobs Key to Recovery

Realty Times: Carla Hill – FULL ARTICLE

Jobs are more than a pressing concern in today’s economy. Their rebound is inextricably linked to a housing recovery. Even President Obama’s proposed jobs legislation includes $15 billions dollars allotted towards the purchase and refurbishment of vacant and foreclosed homes. These homes will then be sold at no profit, or at the price it cost to acquire and fix up.

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Jumbo loan-limit cut has buyers, sellers worried

Boston Herald: Jerry Kronenberg – FULL ARTICLE

Home buyers and sellers fear new rules that cut the size of the cheapest mortgages available will make the already chilly housing market even colder.

“It’s concerning to me beyond just the fact that I’ve got a house on the market,” would-be seller Carroll Ann Bottino said of tighter mortgage rules set to take effect Oct. 1. “Our economy isn’t in any great shakes in this country — and a lot of the problem is housing. We have a lot of unsold homes that we need to move.”

 

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Homeowners Expect Prices to Fall

Realty Times: Carla Hill – FULL ARTICLE

Has renewed concerns over the job market affected the way agents and homeowners feel about the market? HomeGain’s nationwide third quarter 2011 home values survey found that forty-seven percent of surveyed real estate professionals nationwide expect home values to decrease over the next six months.

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Multifamily Housing Production Index Shows Ongoing Market Improvement

“Multifamily rental construction is trending upward, and it is definitely the brightest sector in the broader housing market,” said NAHB Chief Economist David Crowe. “However, the entire housing market continues to be very fragile and subject to many external pressures, including an ongoing shortage of financing for new projects.” FULL ARTICLE

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Coming loan changes could squeeze high-priced home markets

By Julie Schmit, USA TODAY – FULL ARTICLE

Time is short for some buyers and owners of more expensive homes to get the best terms on mortgage loans. Starting Oct. 1, Fannie Mae and Freddie Mac will cut the size of loans they buy from lenders. That will force many future borrowers into more expensive and harder-to-get jumbo loans.

 

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Flood Insurance Lapse Puts Home Owners, Housing at Risk

Huffington Post: Matthew Dornic – FULL ARTICLE

Thanks to heavy rainfall and flooding from Hurricane Irene, residents from North Carolina to Vermont this week are dealing with serious property damage. Luckily, many home owners are protected through the National Flood Insurance Program (NFIP). But had the hurricane hit only a month later, this week’s headlines may have been very different.