Vacation-home sales recovered in 2009 while investment sales fell sharply, according to the National Association of Realtors®. NAR’s 2010 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2009, shows vacation-home sales rose 7.9 percent to 553,000 last year from 513,000 in 2008, while investment-home sales fell 15.9 percent to 940,000 in...
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McLean, VA – Freddie Mac (NYSE:FRE) released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.99 percent with an average 0.6 point for the week ending March 25, 2010, up slightly from last week when it averaged 4.96 percent. Last year at this time,...
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WASHINGTON, D.C. — Today, the U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) began a six-month process to develop revised flood maps for Washington, D.C., designed to help local officials and residents identify known flood risks, and assist in making insurance and development decisions. FEMA continues to update its flood hazard maps nationwide...
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PHILADELPHIA, PA — A significant new rule from the U.S. Environmental Protection Agency dealing with lead-safe work practices goes into effect on April 22, 2010. Anyone receiving compensation for renovating, repairing and painting work in residences built before 1978 that disturbs painted surfaces is subject to the new Renovation, Repair and Painting Rule (RRP)....
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Number of permanent modifications increases by 45 percent WASHINGTON, DC – The U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD) today released February data for the Administration’s Home Affordable Modification Program (HAMP). As of the end of the month, more than one million borrowers were receiving a median savings...
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NEW RESIDENTIAL CONSTRUCTION IN FEBRUARY 2010 BUILDING PERMITS * Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 612,000. This is 1.6 percent (±1.0%) below the revised January rate of 622,000, but is 11.3 percent (±1.8%) above the February 2009 estimate of 550,000. * Single-family authorizations in February were...
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Madison, Wisconsin — The National Flood Insurance Program (NFIP) had its roots in the 1800s as the country recognized the federal government must play a leading role in controlling and responding to floods. Two previous chronological articles traced the evolution of a National Flood Insurance Program from its origins in a Supreme Court ruling of...
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* Did you know that you have to purchase flood insurance seperately from your homeowner’s insurance policy? * Did you know flood insurance only covers up to $250,000? * Did you know flood insurance does not cover anything in your basement? Partnership To Encourage Flood Safety As one of the snowiest winter seasons in many years yields to...
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BOSTON, MA – Dozens of local officials from 12 of the regions hit hardest by the housing crisis are meeting at Harvard University March 14 -16 to develop new strategies for stabilizing neighborhoods that experience large numbers of foreclosures. The Boot Camp will convene teams of government officials, nonprofits and real estate firms from...
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