|Mortgage Bankers Report Mortgage Applications up 7.5 Percent|
|The Mortgage Bankers Association (MBA) recently released its Weekly Mortgage Applications Survey for the week ending July 4, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 513.4, an increase of 7.5 percent on a seasonally adjusted basis from 477.7 one week earlier.|
|Homebuyer Tax Credit and Housing Legislation Stall in Senate|
|Washington DC - July 1, 2008 - The National Association of REALTORS(R) reported today that the proposed $8000 homebuyer tax credit is stalled in the Senate as a few Senators exercised their prerogatives under the Senate rules to shut down action.
|Home Price Declines Expected to Continue According to Two National Reports|
|This week, two national reports were released indicating that home prices will experience more declines before they stabilize. The first is the “The State of the Nation’s Housing” report issued by the Joint Center for Housing Studies of Harvard University, and the second is the monthly Standard & Poor’s Case-Shiller Home Price Index.|
|Economic Stimulus Act Provides Tax Benefits to Businesses|
|The Economic Stimulus Act of 2008 contains two provisions that provide tax benefits for businesses. The first provision increases the limit up to which a business can expense property purchased and placed in service during its 2008 tax year. The second provision provides an additional 50 percent special depreciation allowance for property acquired and placed in service during calendar year 2008.|
|A Role Reminder|
|In a tight market it is essential to remember your responsibility if you are acting as an agent for a buyer or seller. It is important to remember the level of service you have agreed to provide and that should remain at the forefront of your mind.|
|Taking Care of Business: Sharpen Your Basic Skills to Build Success|
|When it comes to losing weight, everyone knows what works: increasing calorie burning while decreasing calorie consumption. Operating a successful business works the same way: owners need to increase revenue while reducing expenses. But whether you are trying to slim down physically or build a business, more than one approach may be needed to achieve your goal.|
|President’s Message: Back to Basics|
|In Susan Renfrew's latest message she explains how going back to “basic training” so to speak will protect, promote and sustain your business in the months to come.
|Mass. Home Sales Experience Biggest April-to-May Increase in Past 10 Years|
|May home sales still down compared to the same time last year, but experience smallest drop since September 2007
Today, MAR reported that both single-family home sales and condominium sales experienced their biggest April-to-May percentage increase in the past 10 years. While year-over-year single-family home sales were down 10.1 percent in May, this is the smallest decrease since September 2007. May median single-family home prices were also down 9.2 percent compared to last year. The number of condominiums sold in May was down 24.5 percent, with median sales prices down 2.6 percent.|
|Discrimination Complaints Climb But Fewer Charges Filed|
|The number of complaints filed under the Federal Fair Housing Act by consumers on housing related issues increased 41% in 2007 over figures in 2000 while the number of cases investigated and prosecuted declined by 62% during the same time period.
|Online Real Estate Encyclopedia for REALTORS® and Consumers|
|Real Estate Wiki, a website encyclopedia that deals exclusively with the real estate industry was officially launched earlier this year. Intended to serve as the industry’s largest online wiki, this site has grown to over 13,000 entries including over 3,000 definitions for real estate terms, almost 1,000 answers to frequently asked questions about home buying, selling and financing questions, a list of over 800 real estate acronyms, over 600 bio’s of prominent real estate leaders, authors, over 600 real estate brokerage companies and details of some 800 real estate associations, institutes, councils, designations, courses, blogs, social networks, publications and more.|