September Existing-Home Sales Show Another Strong Gain

Washington, October 25, 2010
Existing-home sales rose again in September, affirming that a sales recovery has begun, according to the National Association of Realtors®.
Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, jumped 10.0 percent to a seasonally adjusted annual rate of 4.53 million in September from a downwardly revised 4.12 million in August, but remain 19.1 percent below the 5.60 million-unit pace in September 2009 when first-time buyers were ramping up in advance of the initial deadline for the tax credit last November.

Existing-home sales in the Midwest jumped 14.5 percent in September to a level of 950,000 but are 26.4 percent below a year ago. The median price in the Midwest was $139,700, down 5.2 percent from September 2009.

Existing-home sales for October will be released at 10 a.m. EST November 23. The next Pending Home Sales Index is scheduled for November 5; released at 12:30 p.m. EDT from NAR’s 2010 Conference & Expo in New Orleans; a news conference there begins at noon EDT, which also will cover the 2011 housing and economic forecast.
Information about NAR is available at www.realtor.org. This and other news releases are posted in the News Media section. Statistical data in this release, other tables and surveys also may be found by clicking on Research.

For the full report, go to http://www.realtor.org/press_room/news_releases/2010/10/sept_strong

What Affects Credit Scores? 7 Misconceptions

If you’re trying to raise your credit score to get a good rate for a refinance or HELOC, you might be surprised by what affects—or doesn’t affect—your score.Read more: http://www.houselogic.com/articles/what-affects-credit-scores-7-misconceptions/#ixzz13PJUIOyj

Division of Real Estate Offers Tips for Consumers Who Buy or Sell Real Estate

The Division of Real Estate and Professional Licensing has been working hard to prevent con artist activity. Through outreach and publications, the division aims to educate consumers about steps they can take to protect themselves prior to buying or selling real estate.

The recent housing market crash created a potential gateway for scammers. In response, the Division of Real Estate created a list of tips for consumers to consider before engaging in real estate activity. The tips include: know your real estate agent, choose a lender and be aware of requirements, understand earnest money and trust accounts, hire an attorney to review paperwork and ask questions often. Consumers can achieve the first tip easily by accessing the division's License Information Lookup---a database that includes relevant license information about the roughly 50,000 licensees it regulates---to find a licensed real estate professional. Working with one of the many licensed real estate professionals in Ohio can be one of the most important ways to ensure a successful, safe real estate transaction.
In addition to making its new publication available online, the Division of Real Estate has participated in National Consumer Protection Week events, professional conferences and the Department of Commerce's display at the Ohio State Fair to inform consumers of methods they should employ to ensure a successful buying or selling experience.

DFI Offers Advice on How Consumers May Protect Against ATM Skimmers

The Division of Financial Institutions is warning consumers to protect themselves from a new trend in identity theft: ATM skimmers. ATM skimmers are devices that thieves install on ATM machines to steal consumers' banking information. Skimming devices may be placed over or alongside card-reading devices on ATM machines. Thieves also may install a small camera on the machine to record users' pin numbers. The following tips may help you to protect yourself from ATM skimmers:
Beware of ATM machines with exposed wires, a loose scanner, multiple scanning devices, or a sticker that says "scan here first." If you spot any of these things, do not use the machine.
Do not use an ATM if someone offers to assist you with your transaction. Criminals may pose as another customer, a bank employee or a machine technician to make sure you use a skimming device.
Be secretive when entering your pin number. Cover the keys with one hand in case someone is looking over your shoulder or there is a hidden camera nearby.
Only use ATM machines that are familiar to you. This will help you recognize any tampering that has occurred with the machine.
Use ATM machines owned by your financial institution. These machines are often located in places where criminals cannot install their devices. Check the balance on your ATM card often so that if someone steals your information, you can minimize the damage. The faster you respond to ATM card theft, the sooner your financial institution may begin helping you recover any loss.