Another Sign the Economy is Coming Back

Great news came out today!! Here is what the Atlanta Business Chronicle had to say about it:

The Conference Board's Index of Leading Economic Indicators rose this month, the latest sign that an economic recovery may be around the corner.

The LEI, which gauges economic activity in the next three to six months, advanced 1 percent in May, the biggest monthly gain in more than three and a half years. It follows a 0.2 percent decline in April.

May's LEI gain was the first increase in seven months.

Stock prices, interest rates and rising orders for manufacturers were among things that contributed to the increase, according to the Conference Board.

Earlier this week, a report showed confidence among U.S. Homebuilders rose this month.
University of Michigan's Consumer Sentiment Index also rose more than expected this month.
The last two consumer confidence reports from the Conference Board also rose. It will report May confidence at the end of the month, and it is forecast to post its third consecutive increase.

Big Improvement to First Time Home Buyer Tax Credit

BIG NEWS BIG NEWS!!

Daily Real Estate News May 12, 2009


Big Improvement to First-Time Buyer Tax Credit Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment.

Previously, most buyers wouldn't receive the funds until after they filed their tax return, and that deterred some people from using the credit. The NATIONAL ASSOCIATION OF REALTORS® has been calling for the change.

“We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment,” Donovan says. His remarks came in an address to several thousand REALTORS® gathered Tuesday morning at "The Real Estate Summit: Advancing the U.S. Economy," at the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo in Washington, D.C..

He says FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.

Call me and let's have this credit work for you at the closing table!!

Atlanta is Named as a Top Destination for Movers

Looks like Atlanta has held on to the top spot as a destination city for the second year in a row! I've always considered Atlanta the place for young professionals because of jobs, weather, activities and transportation. Additionally, when I think of moving by U-Haul, I think of my early years when I first finished college. I moved into my very first home, a condominium that accrued nicely in value, with a U-haul and four male friends that I lured into helping me with free pizza and beer. That being said, it makes since that the U-Haul group agrees with me that Atlanta is the number one destination city! See the original blurb below:

U-Haul International, Inc., America's number one choice for do-it-yourself movers, today released the results of the annual 2008 U-Haul National Migration Trend Report, titled "The 2008 Top 50 U.S. Destination Cities." According to moving data reflective of nationwide statistics for calendar year 2008, Atlanta takes the No. 1 spot for the second year in a row, while Houston takes second place, moving up from the No. 8 rank last year. Los Angeles climbed to No. 3 from No. 13 last year, while Las Vegas maintained at No. 4 for the second year in a row, and Denver, Colo. moved up to fifth place from the No. 9 rank last year. Portland, Ore.; Chicago, San Antonio, Austin, Texas and Orlando, Fla. rounded out the top 10.