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Category: Market Conditions

NWMLS reports sales down slightly but pending transactions WAY up!

Northwest Multiple Listing Service (NWMLS) today reported a 43 percent increase in pending sales of single family homes and condominiums during May compared to the same month a year ago. However there were about 5 percent fewer year-to-date transactions than in 2010. Why the wide discrepancy? During the first five months of 2010 sales were …

Market activity causing multiple offers.

The Northwest Multiple Listing Service (NWMLS) reported today that we are starting to a see something that had all but vanished in recent months: multiple offers. This is something I have experienced first-hand with buyers recently as well. Several directors of Northwest Multiple Listing Service noted they are encountering more bidding wars in certain neighborhoods …

HUD Secretary Announces Monetization of Tax Credit for FHA Loans

Shaun Donovan, Secretary of the U.S. Department of Housing and Urban Development, announced today that the Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a down payment. He made these remarks in an address this morning at The Real Estate Summit: Advancing the U.S. …