Stacie Hartman

The Mortgage Blog of Stacie Hartman

Bishop On Spring Sales, Inventory, And The Tax Credit

Despite disappointing winter sales reports, Paul Bishop, vice president of research at the National Association of Realtors, argues that long-term trends indicate sales may be turning the corner and feels they’ll continue to stabilize, if not move up, during the coming months.

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Existing Home Sales Down in January

According to the National Association of Realtors, sales of existing homes dropped 7.2 percent in January. Lawrence Yun, NAR’s chief economist, said the delay between shopping and closing affected current sales, noting that most of the completed deals in January were based on contracts from November and December. Still, Yun said, the decline is not encouraging. Despite the discouraging numbers, compared to January 2009, existing-home sales were up 11.5 percent. More here.

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Expiring Programs Prompt Extension Debate

Many of the government programs designed to help stabilize the housing industry are set to expire this spring. The Federal Reserve’s purchases of $1.25 trillion in mortgage-backed securities, largely responsible for pushing interest rates to record lows, ends at the end of March. And the home-buyer tax credit, which offers $8,000 to first-time buyers and $6,500 to repeat buyers, will expire on April 30. Some have called for another extension of the already twice-extended tax credit, citing a still fragile housing market. And though most agree it has helped sell homes, economists such as Mark Zandi, of Moody’s Economy, say it has worn out its benefits. A good summary of federal programs here.

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About Me:

Stacie Hartman is a wholesale mortgage Account Executive working with loan officers in Oregon and SW Washington. She has 18 years in the mortgage industry, an extensive knowledge of financing options, and a commitment to open communication and client service that make her stand out in her field. Her goals begin with uncompromising service and end with excellent results and repeat business.

Contact:

Stacie Hartman
360 Mortgage Group
Account Executive
Oregon and SW Washington
Phone: 503.757.9565
Email: shartman@360mortgagegroup.com
website: www.360mortgagegroup.com

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