Dear Reader: The purpose of "Real Estate the Smart Way" newsletter is to keep you informed about things that can impact your family’s finances, by providing the best of news and perspectives on key issues that affect home buying, selling, and up-keep. Get smarter, subscribe here.
January 2010
Newsletter 45
Home Prices Still Improving, but at a Moderating Pace
Data through October 2009, recently released by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, one of the leading measures of U.S. home prices, show that the annual rate of decline of the 10-City and 20-City Composites improved compared to last month’s reading.
This marks approximately nine months of improved readings in these statistics, beginning in early 2009.
The annual returns of the 10-City and 20-City Composite Home Price Indices, declining 6.4% and 7.3%, respectively, in October 2009 compared to the same month last year. All 20 metro areas and both Composites showed an improvement in the annual rates of decline with October’s readings compared to September.
HUD to Provide Temporary Relief to Homeowners Facing Problem Drywall
The U.S. Department of Housing and Urban Development announced that FHA-insured families experiencing problems associated with problem drywall may be eligible for assistance to help them rehabilitate their properties.
In addition, HUD’s Community Development Block Grant (CDBG) Program may also be a resource to help local communities combat the problem.
HUD Issues Booklet to Help Consumers Shop for Home Loans
The U.S. Department of Housing and Urban Development (HUD) recently released a new settlement cost booklet to help consumers shop for the best mortgage to meet their needs.
This booklet will help borrowers become familiar with the various stages of the home buying process, including deciding whether they are ready to buy a home, and providing factors to consider in determining how much home they can afford.
