Pending Home Sales Rise for 3rd Straight Month

PENDING HOME SALES ON AN UPSWING

May 4, 2010----Pending home sales increased again in March, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of Realtors®.

The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in March, rose 5.3 percent to 102.9 from 97.7 in February, and is 21.1 percent above March 2009 when it was 85.0; this follows an 8.3 percent increase in February. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.

Lawrence Yun, NAR chief economist, said favorable affordability conditions have been working with the tax credit. “Clearly the home buyer tax credit has helped stabilize the market. In the months immediately following the expiration of the tax credit, we expect measurably lower sales,” he said. “Later in the second half of the year, and into 2011, home sales will likely become self-sustaining if the economy can add jobs at a respectable pace, and from a return of buyer demand as they see home values stabilizing.”

The PHSI in the Northeast declined 3.3 percent to 75.1 in March but remains 27.2 percent higher than March 2009. In the Midwest the index increased 1.2 percent to 98.9 and is 18.5 percent above a year ago. Pending home sales in the South jumped 12.7 percent to an index of 121.2, which is 28.3 percent higher than March 2009. In the West the index rose 1.9 percent to 99.9 and is 8.8 percent above a year ago.

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Written By: Walter Molony, Washington
Date: May 4, 2010
Article & Video Courtesy of: National Association of Realtors

Melissa's Favorite Derby Pie

Derby Pie

You might be overstuffed of Derby pie if you live in Louisville, but for those that may have watched the Kentucky Derby on TV and still think there is no problem celebrating with a wonderful dessert, then try this recipe. You will love it!

Ingredients:
1 cup light corn syrup
1 cup white sugar
1/2 cup butter, melted
1/4 teaspoon salt
4 eggs
2 tablespoon bourbon
1 teaspoon vanilla
1/2 cup semi-sweet chocolate chips
1 cup chopped pecans
1 9" deep dish pie crust (frozen or refrigerated)

Directions:
1. Pre-heat oven to 325 degrees.
2. Lay pie crust in bottom of pie dish.
3. In a saucepan, combine sugar, corn syrup, and butter. Cook over medium heat stirring constantly until butter melts & sugar dissolves. Remove from heat.
4. In a large bowl, mix eggs, bourbon, vanilla, and salt. Mix well.
5. Slowly mix sugar mixture into egg mixture & stir constantly.
6. Stir in chocolate chips & pecans. Pour entire mixture into pie crust.
7. Cook for 50 minutes or until pie is set and a golden brown.
8. Let it cool on a wire rack.


*Hint: Put a non-stick cookie sheet under the pie to keep droppings from burning in your oven.



Serve it warm with ice cream , serve it at room temperature....

Just Enjoy!!!