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SPDR S&P Homebuilders ETF Message Board

  • optionsrbest4u optionsrbest4u Apr 27, 2010 11:09 AM Flag

    FaMae extends 3.5% seller assistance

    "Fannie Mae extends 3.5% seller assistance on its Real Estate Owned Properties. Co announced the extension of its seller assistance incentive on all Fannie Mae-owned HomePath properties. Buyers will receive 3.5 percent of the final sales price to be used toward closing cost assistance or their choice of selected appliances."

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    • Thanx for this bit of good news!! I think everyone in the country will feel better once this backlog of foreclosures is done with.

      I have a Realtor friend who says what will probably happen now is that the realistic sellers will drop their asking price down by $6,000 to $8,000 and be glad to get any buyer they can.

      Also, a Realtor on CNBC also said that they were working on a program to rebate 3% or more back to the buyers by using a credit of some kind.

      All in all, the Homebuilders continue to march upward sgteadily every day. Backed off a little on Friday but Cramer says there will be a SHORTAGE of housing in about a year. I agree....somewhat.

      I'm very LONG the XHB.

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