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It’s not all candy & nuts, but according to the NATIONAL ASSOCIATION OF REALTORS® (“NAR”), Pending Home Sales increased in August for the seventh consecutive month. These numbers are clouded with first time buyers rushing to close for their $8,000 tax credit and some double counting because of mortgage and loan snafus, but it’s still an encouraging sign for the overall housing market. According to the information released from NAR: “The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August, rose 6.4 percent to 103.8 from a reading of 97.6 in July, and is 12.4 percent above August 2008 when it was 92.4. The index is at the highest level since March 2007 when it was 104.5.” Additional news reports are available here: |
Pending Home Sales Continue Record Run
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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.
