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The monthly Standard & Poor Case-Shiller Home Price Report has been released for January 2010. The report offers S&P’s first look into the home pricing issue in this year. As a reminder, we are now tracking the “Seasonally-adjusted” numbers for this index. A change that began last month (February 2010). As you can see by the graph to the right, home prices continue to improve with the upward trend now hitting eight months straight. On the whole, home price increases continue to be slight as we move into 2010, but based on the recent past we’re happy to see an upward trend. You can find more information about the most recent Standard & Poor’s Case-Shiller report at these links: |
Case-Shiller: National Home Price Index
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- Mortgage Rate Averages
What is a Home Warranty?
A home warranty is a service contract, normally for one year, which helps protect home owners against the cost of unexpected covered repairs or replacement on their major systems and appliances that break down due to normal wear and tear. Coverage is for systems and appliances in good working order at the start of the contract.
What is a Short Sale?
If a home is being sold for below what the current seller owes on the property—and the seller does not have other funds to make up the difference at closing—the sale is considered a short sale. A short sale is different from a foreclosure, which is when the seller's lender has taken title of the home and is selling it directly. Homeowners often try to accomplish a short sale in order to avoid foreclosure.
