COLDWELL BANKER EXTENDS BENEFITS OF HOME BUYER TAX CREDIT WITH ‘BUYER BONUS’ SALES EVENT*
Thousands of Sellers to Offer Credit Up to $8,000 from May 1 Until July 31, 2010
PARSIPPANY, N.J. (April 26, 2010) — Coldwell Banker Real Estate LLC today announced the launch of its Buyer Bonus Sales Event, a national promotion intended to build on the momentum of the soon-to-expire federal homebuyer tax credit.
In a recent survey of Coldwell Banker Real Estate professionals, nearly half indicated that they had worked with home buyers who would have missed out on the home buyer tax credit in November of last year had it not been extended. In addition, while 34 percent cite the current tax credit extension (expiring April 30) as the primary reason their customers are currently for searching for a home, 28 percent said that they feel the limitations of this credit will prohibit some buyers from taking advantage of the credit.
That is why on May 1, 2010, immediately following the expiration of this government initiative, home sellers participating in the Coldwell Banker Buyer Bonus Sales Event will offer a credit of 3 percent (up to $8,000), when part of an accepted offer, of their home’s purchase price to buyers who sign a contract before July 31, 2010. There is no deadline for a closing date.
“The federal government did its part to encourage millions of Americans to achieve their dream of home ownership with the help of the home buyer tax credit,” said Jim Gillespie, president and chief executive officer for Coldwell Banker Real Estate LLC. “As the credit expires, Coldwell Banker Real Estate is encouraging buyers who haven’t found a home yet to continue looking, while bringing a new audience of home buyers who were unable to qualify for the tax credit into the market. We are confident that this private sector solution will represent a significant step toward continued recovery of the housing market.”
“The Buyer Bonus Sales Event will allow participating Coldwell Banker home sellers to essentially extend the benefits of the credit,” said Gillespie. “Without restrictions such as household income caps, the Coldwell Banker Buyer Bonus Sales Event allows for greater participation for all homebuyers. And our sellers have a unique opportunity to allow their home to stand out from the competition in their marketplace.”
Participating homes will typically be identified by Buyer Bonus Sales Event yard sign riders and tagged as a Buyer Bonus home online at www.coldwellbanker.com. While searching for a home online, home buyers can simply check the box labeled “Buyer Bonus Sales Event” to find participating properties nearby.
All home sellers who take part in the Buyer Bonus Sales Event will receive broad marketing support from Coldwell Banker Real Estate LLC, including:
• National television commercials beginning May 1, 2010; extensive online advertising
• Promotion on http://www.coldwellbanker.com
• Updates on the event to be shared on Coldwell Banker Facebook and Twitter pages and the Coldwell Banker blog, Blue Matter;
• A video posting to the Coldwell Banker On Location channel highlighting the practical value of $8,000.
*Press release from Coldwell Banker
About Coldwell Banker Real Estate LLC®Since 1906, the Coldwell Banker® organization (www.coldwellbanker.com) has been a premier full-service real estate provider. The Coldwell Banker system has more than 3,300 residential real estate offices and nearly 97,000 sales associates in 49 countries and territories. The Coldwell Banker system is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International® division. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.
Monday, April 26, 2010
Friday, April 16, 2010
Rates for this weekend....*
Conforming and FHA Loans
30-Year Fixed 5.000% 5.191%
30-Year Fixed FHA 5.125% 5.897%
15-Year Fixed 4.250% 4.573%
5-Year ARM 3.750% 3.601%
5-Year ARM FHA 3.500% 3.343%
Larger Loan Amounts in Eligible Areas – Conforming and FHA.
30-Year Fixed 5.125% 5.264%
30-Year Fixed FHA 5.125% 5.840%
5-Year ARM 4.000% 3.643%
Jumbo Loans – Amounts that exceed conforming loan limits
30-Year Fixed 5.500% 5.643%
5-Year ARM 5.125% 4.059%
* courtesy of Wells Fargo
30-Year Fixed 5.000% 5.191%
30-Year Fixed FHA 5.125% 5.897%
15-Year Fixed 4.250% 4.573%
5-Year ARM 3.750% 3.601%
5-Year ARM FHA 3.500% 3.343%
Larger Loan Amounts in Eligible Areas – Conforming and FHA.
30-Year Fixed 5.125% 5.264%
30-Year Fixed FHA 5.125% 5.840%
5-Year ARM 4.000% 3.643%
Jumbo Loans – Amounts that exceed conforming loan limits
30-Year Fixed 5.500% 5.643%
5-Year ARM 5.125% 4.059%
* courtesy of Wells Fargo
Wednesday, April 14, 2010
Singles in the Suburbs: Latest Trend in Real Estate
SINGLES IN THE SUBURBS: COLDWELL BANKER REAL ESTATE CONSUMER SURVEY UNCOVERS TRENDS AMONG THE NEW WAVE OF HOME BUYERS
PARSIPPANY, N.J. (April 14, 2010) – With low home prices, interest rates and government tax incentives for first-time home buyers, Coldwell Banker Real Estate brokers and agents are seeing an influx of singles walking through the door. For greater insight into this demographic, Coldwell Banker Real Estate conducted a national online survey of more than 1,000 single homeowners in April 2010 on what factors played into their decision to purchase a home. While conventional wisdom may be that most singles are buying bachelor or bachelorette pads downtown, surprisingly, Coldwell Banker found that the majority of single homeowners (52 percent) it surveyed chose suburbia over urban or rural areas.
“We are finding the current housing environment to be the ideal marketplace for many people who may have never considered buying a home before, such as singles and other first-time buyers,” said Diann Patton, the Coldwell Banker Real Estate consumer specialist. “They can afford much more house for their money than they may have been able to in previous years. Many are recognizing that a mortgage payment on a house can actually be the same or less than what they would spend on rent.”
According to the Coldwell Banker Real Estate survey, over half (53 percent) of single homeowners reported that they purchased a home because it was more cost effective than renting in their area. However, more than just financial analysis contributed to their decision. The desire for independence played a role for more than one-third of single homeowners (35 percent) according to the same survey.
“Owning a home is such a monumental way to achieve independence,” said Patton. “It’s inspiring to see so many individuals accomplish this life goal.”
Below are additional key findings from the April 2010 Coldwell Banker Real Estate single homeowner survey:
Finding good deals is important, but so are modern amenities and outside space.
• 68 percent of single homeowners purchased a home that was below their price range, rather than the most expensive home they could afford.
• Meanwhile, modernized home updates and appliances and having a yard and outside space were rated as the most desirable features in a home over lesser considerations like space for entertaining.
Some may have flown the coop, but others get help from their parents.
• Of the 13 percent of single homeowners who own their home jointly with another person, almost half (49 percent) made the purchase with their parents.
Singles hunt for homes that are close to work and their family.
• Fifty-five percent have less than a 30-minute commute to their office or work from home, and 40 percent live less than 30 minutes or even in the same neighborhood as their parents or extended family. In fact, an additional 12 percent live with at least one family member.
Single women may be more likely to think of growing their family than single men.
• More single women (27 percent) said that the number of bedrooms was the most desirable feature in a home, than did men (18 percent).
Single and ready to … bargain hunt.
• Singles don’t shy away from foreclosures – especially single men. Thirty-eight percent would currently consider purchasing a foreclosed / short sale home, compared to 29 percent of single women.
Methodology: In April 2010, Coldwell Banker Real Estate conducted a national online survey and received responses from 1,050 single homeowners across the United States.
About Coldwell Banker®Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United States and today has a network of nearly 97,000 agents working in more than 3,300 offices in 49 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to augment its web site www.coldwellbanker.com for smart phones, the first to create an iPhone application featuring international listings and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program.
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PARSIPPANY, N.J. (April 14, 2010) – With low home prices, interest rates and government tax incentives for first-time home buyers, Coldwell Banker Real Estate brokers and agents are seeing an influx of singles walking through the door. For greater insight into this demographic, Coldwell Banker Real Estate conducted a national online survey of more than 1,000 single homeowners in April 2010 on what factors played into their decision to purchase a home. While conventional wisdom may be that most singles are buying bachelor or bachelorette pads downtown, surprisingly, Coldwell Banker found that the majority of single homeowners (52 percent) it surveyed chose suburbia over urban or rural areas.
“We are finding the current housing environment to be the ideal marketplace for many people who may have never considered buying a home before, such as singles and other first-time buyers,” said Diann Patton, the Coldwell Banker Real Estate consumer specialist. “They can afford much more house for their money than they may have been able to in previous years. Many are recognizing that a mortgage payment on a house can actually be the same or less than what they would spend on rent.”
According to the Coldwell Banker Real Estate survey, over half (53 percent) of single homeowners reported that they purchased a home because it was more cost effective than renting in their area. However, more than just financial analysis contributed to their decision. The desire for independence played a role for more than one-third of single homeowners (35 percent) according to the same survey.
“Owning a home is such a monumental way to achieve independence,” said Patton. “It’s inspiring to see so many individuals accomplish this life goal.”
Below are additional key findings from the April 2010 Coldwell Banker Real Estate single homeowner survey:
Finding good deals is important, but so are modern amenities and outside space.
• 68 percent of single homeowners purchased a home that was below their price range, rather than the most expensive home they could afford.
• Meanwhile, modernized home updates and appliances and having a yard and outside space were rated as the most desirable features in a home over lesser considerations like space for entertaining.
Some may have flown the coop, but others get help from their parents.
• Of the 13 percent of single homeowners who own their home jointly with another person, almost half (49 percent) made the purchase with their parents.
Singles hunt for homes that are close to work and their family.
• Fifty-five percent have less than a 30-minute commute to their office or work from home, and 40 percent live less than 30 minutes or even in the same neighborhood as their parents or extended family. In fact, an additional 12 percent live with at least one family member.
Single women may be more likely to think of growing their family than single men.
• More single women (27 percent) said that the number of bedrooms was the most desirable feature in a home, than did men (18 percent).
Single and ready to … bargain hunt.
• Singles don’t shy away from foreclosures – especially single men. Thirty-eight percent would currently consider purchasing a foreclosed / short sale home, compared to 29 percent of single women.
Methodology: In April 2010, Coldwell Banker Real Estate conducted a national online survey and received responses from 1,050 single homeowners across the United States.
About Coldwell Banker®Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United States and today has a network of nearly 97,000 agents working in more than 3,300 offices in 49 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to augment its web site www.coldwellbanker.com for smart phones, the first to create an iPhone application featuring international listings and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program.
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