*

Energy Rebates From Your Utility Help You Manage Rising Energy Costs Surprise: Your utility may offer big-time energy rebates to offset the cost of energy-efficient retrofits. Read Appeal Your Property Tax Bill To successfully appeal your property tax bill, you first need to do a bit of sleuthing into your real estate assessment. Read Visit houselogic.com for more articles like this. Copyright 2011 NATIONAL ASSOCIATION OF REALTORS®

Check out Option Finder from Fannie Mae Hardest Hit Fund The Hardest Hit Fund offers innovative measures to help families stay in their homes or otherwise avoid foreclosure in states that have been hit hard by concentrated economic distress. The HomeLoanLearningCenter.com Provides step-by-step information on how to become financially literate. Homeownership Preservation Foundation An independent nonprofit that provides HUD-approved counselors dedicated to helping homeowners. HOPE NOW™ An alliance between HUD-approved mortgage market participants that provides free foreclosure prevention assistance. HUD: Guide to Avoiding Foreclosure Offers information to help you if you are facing foreclosure. Loan Scam Alert Highlights some common scams today’s homeowners need to look out for. Making Home Affordable Provides an overview of the federal government’s programs for helping troubled homeowners. National Foundation for Credit Counseling Provides high-quality financi

Washington, October 13, 2011 Owning a home has had long-standing government support in the U.S. because homeownership benefits individuals and families, strengthens communities, and is integral to the nation’s economy, the National Association of Realtors® said in testimony today. NAR President-Elect Moe Veissi outlined the association’s recommendations for housing finance reform before the House Financial Services Subcommittee on International Monetary Policy and Trade. “We must be better stewards of the U.S. housing finance system if it is to thrive and effectively serve American home buyers and mortgage investors into the future,” said Veissi, broker-owner of Veissi & Associates Inc., in Miami. “Repairs to our current housing finance structure must be made, but we must be careful that changes to the system do not come at the expense of homeownership opportunities for middle- and lower income Americans.” Toward that end, NAR supports H.R. 2413, the “Secondary Market Facility for

For more information, contact: Walter Molony 202-383-1177 wmolony@realtors.org Pending Home Sales Decline in August but Remain Above a Year Ago Washington, DC, September 29, 2011 Pending home sales slipped in August with a mixed regional performance but are higher than a year ago, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, declined 1.2 percent to 88.6 in August from 89.7 in July but is 7.7 percent above August 2010 when it stood at 82.3. The data reflects contracts but not closings. Lawrence Yun, NAR chief economist, said the decline reflects an uneven market. “The biggest monthly decline was in the Northeast, which was significantly disrupted by Hurricane Irene in the closing weekend of August,” he said. “But broadly speaking, contract signing activity has been holding in a narrow range for many months.” The PHSI in the Northeast fell 5.8 percent to 63.6 in August but is 1.3 percent higher

7 Tips for Staging Your Home Make your home warm and inviting to boost your home’s value and speed up the sale process. Read The Value of Home Maintenance Regular home maintenance is key to preserving the value of your house and property. Read Visit houselogic.com for more articles like this. Copyright 2011 NATIONAL ASSOCIATION OF REALTORS®

Michele Lerner, author of Homebuying: Tough Times, First Time, Any Time, offers reasons why real estate is likely to improve in 2011. Here are five reasons she thinks consumers should consider a home purchase next year: ▪ Mortgage rates will stay low. Even with rates climbing — maybe to as high as 6 percent by 2012 — they are still well below where they have been historically. ▪ Tax cuts could help. Extending the tax cuts could encourage a more rapid recovery for the economy. ▪ Americans want to be home owners. A recent Fannie Mae survey showed that Americans still believe a home is a safe and desirable investment. ▪ Builders are about to begin building. Home builders have been sitting on the sidelines. This year, they think pent-up demand will create an appetite for new homes. ▪ Homes are shrinking. Homes are getting smaller, which has made them more affordable. Source: Investopedia, Michele Lerner (12/24/2010)

I am compelled to write about this topic today because my buyers had to terminate their contract yesterday. Their contract was signed at the end of March on a short sale in Illinois. They were renting and their lease was up at the end of this week. They were very patient, but their patience did not make up for what was happening. Their loan approval from the seller's side was at a stand still. Our attorney kept in contact with them, but nothing was being accomplished. Week after week, no word. Finally two weeks ago we received word that their bid was too low, almost three months after the contract was signed. To make matters worse, my clients were at risk for losing out on the tax credit because of the deadlines . I am relieved to say that there is an extensio n for those people in similar situations. However, it was too late for my clients. They terminated their contract and are now forced to rent again. I take any role I perform seriously, whether