Bubble Wrap
Entry
Pending home sales lunge forward in Northeast
The Star Ledger writes on the recent report on increased sales activity in the Northeast, the first year over year rise since August. Experts believe this will only pick up as first time buyers finalize purchases before the November 30th deadline for the $8,000 dollar tax credit.
It might be some months before this rise shows up in standard sales statistics because of the length of time it has been taking buyers, sellers and banks to close deals, Yun said. Short sales in particular, in which banks agree to let homeowners sell their house for less than the mortgage, can take many months.
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posted about 5 months ago
