Team Annett

When buyers are approved for an FHA home loan, they are required to carry mortgage insurance. That includes both a monthly Mortgage Insurance Premium (MIP) and an Up Front Mortgage Insurance Payment (UFMIP). The Upfront Mortgage Insurance Premium payments go into an escrow account set up by the U.S. Treasury Department and the funds are used to protect the government in case the borrower defaults on the FHA loan.

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Ok, so it appears that my old post from 2010 on the Welcome Home Grant is still getting the bulk of the traffic from search engines!!! – So I hope this one finds everyone just as well because like any program there are some slight changes this year. Read on and email me at lindsay.shapiro@cbws.com with questions!

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Inventory levels continue to be the major shift in the housing market! Check out these graphs from December 2011. With inventory down, prices will rise! Are we coming back? I say yes, but you decide. For more info, contact us: Team Annett, Coldwell Banker West Shell – teamannett@gmail.com .

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Home sales in December, for the sixth month in a row, continued a positive trend with 1,294 units — up 7.65% over December 2010. Annually, there were 16,829 sales in 2011 compared to 16,937 in 2010.

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This past year, I have personally felt the market improve on many fronts. The National Association of Realtors released its latest pending home sales index (PHSI) figure last week and for the second month in a row the index is up! But more than that, the index has broken 100. This is significant because the only time since the housing boom collapsed that the index has broken 100 is when the home owner tax credit was in effect. The fact that the index has returned to that level a year since the credit has been in effect means the housing market is strengthening completely on its own, without any stimulus. This is great news!

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Below is the “November 2011” home sales press release from the Cincinnati Area Board of Realtors:

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Below are the latest graphs from the Multiple Listing Service of Cincinnati through the month of October 2011.

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Guess what? Now is the time to buy a home! That’s right. Not sure about it?  Check out what the Wall Street Journal and Forbes have to say recently:

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A much improved August 2011 for Cincinnati as compared to last year! Homes are selling and interest rates continue to stay incredibly favorable. What was the reason for the August improvement over last year? Some Economists believe it has to do with the fact that we had a relatively slow Spring, mostly due to rainy days and bad weather over the course of several long months. Now it almost seems as if buyers are playing catch up! The sun is out and the smell of fall is in the air. The perfect recipe for a healthy and successful end to 2011.

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Home Sales Reach 1,781 in June; Median Sale Price Inches Up 1.5%

Thanks to continued low mortgage interest rates and overall housing affordability, there were 1,781 home buyers last month in the local area.

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