Scott Kennedy's (scottck) Blog

The Federal Housing Administration (FHA) is proposing raising minimum credit scores for borrowers who receive FHA-backed mortgages, increasing down payment requirements, and limiting the amount of money sellers can provide toward closing costs.  The proposed changes are part of an effort to shore...

Housing affordability stood at 70.1 percent nationwide in the third quarter, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) released last week.  The HOI showed that 70.1 percent of all new and existing homes sold in the third quarter of 2009 wer...

A couple years ago you could buy a million-dollar 2nd home with 5% down, or $50,000.....AND it made sense, because the CPA who just completed your tax return told you: "You Need More Write-Off's".  Buyers rode the wave of appreciating home values while writing-off mortgage interest and property t...

C.A.R. First-time Buyer Housing Affordability Index stood at 64 percent in the third quarter of 2009 compared with 55 percent (revised) in the third quarter of 2008· The median price of an entry-level home in California was $247,150 in the third quarter of 2009· The estimated monthly payment incl...

Home sales will increase 15 percent to about 5.7 million units and REALTOR® income will be up 20 percent in 2010, NAR Chief Economist Lawrence Yun told a packed room of REALTORS® today in a residential economic update at the 2009 NAR Conference & Expo.  For the complete story click here.

The federal tax credit for home buyers was signed into law by President Obama Friday, Nov. 6.  The tax credit, which was set to expire Nov. 30, has been extended through April 30, 2010 with a 60-day extension if a binding contract is in place prior to deadline.  It also was expanded to include ex...

Third Quarter 2009 sales statistics for the Truckee / north Lake Tahoe are now available - goto: http://www.sierratahoerealty.com/real-estate/market-reports/  

C.A.R. calls for swift adoption of Dodd-Lieberman-Isakson amendment to extend home buyer tax credit. LOS ANGELES (Oct. 23) - The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today called for the U.S. Senate to swiftly adopt the Dodd-Lieberman-Isakson amendment, which would extend and amplify the ...

Home buyers still are paying less than a home’s asking price, but had slightly less negotiating power in August than they did in July, according to the August Zillow Real Estate Market Reports. Buyers paid a median $6,525, or 3 percent, less than the last listing price on homes bought in August, ...

The state's green building code, the first of its kind in the nation, took effect August 1st, the California Building Standards Commission has announced. This new code standardizes practices for reducing the environmental impact of buildings in a variety of ways. For more information click here.