One of the bright spots of our economy recently has been the exceptionally low interest rates for home mortgages.  Rates peaked in April this year at 5% before declining to around 4.5% for most of the summer.  However, in early September rates descended further to around 4.125%! Of course, rates dropping always improves affordability of [...]

As you’re enjoying the long overdue summer sun, some of you may be wondering how has the real estate marketed faired during the major summer selling months? Put simply, the market held its ground this summer.  We’ve seen increases in sales volumes, decreases in inventory and steady prices.  While statistics accurate showing the relative number [...]

In the continuation of recent trends for our housing economy, and our economy at large, the recent Mortgage Delinquency Survey report from the Mortgage Bankers Association (MBA) shows that foreclosures are down, but delinquencies are back up. Foreclosures Fall The MBA has reported that foreclosure rates have declined to 2007 levels so fewer borrowers are [...]

Home affordability continues to improve for 2011 with interest rates dropping from their highs of 5$ just a few months ago to today’s lows of 4.5%.  These lower rates have improved buying power by a full 6% – the same payment simply buys more home.     While we have seen rates as low as [...]

So I think that everyone would agree that recycling is wonderful… it enables us to enjoy life while using less energy, less resources and can often save money. However, a news article in the Chicago Tribue reminded earlier today of the lesser side of recycling – where new scammers recycle old ideas to hurt homeowners.  [...]

Check out this report from CNNMoney and Fortune Magazine about the opportunities of the recovering market.  They cite the improving economy, incredibly low new construction inventory and dramatically improved affordability of housing as strong reasons why many markets are poised for a recovery. This article is well worth a read.

The ‘shadow inventory’ (homes either owned, or expected in the short term to be owned, by banks but not yet listed for sale) of our current housing market is showing signs of decreasing shrinking from 2,000,000 units nationally in January 2010 to 1,800,000 units as measured by CoreLogic in January 2011.  This 10% reduction is [...]

In another positive sign for the long term future of housing, mortgage delinquencies as reported by both Fannie Mae & Freddie Mac are continuing to steadily decline. Freddie Mac Report via NASDAQ News Freddie Mac Report via LoanRateUpdate.com As we’ve mentioned before 2011 will have some bumps especially within the areas of distressed properties where [...]

It’s been a busy start of 2011 for us, and we’ve missed posting our market updates online… and some strange things happen while we were away. While we were busy helping a handful of clients buy their first home or upgrade to a larger home… the market was climbing through the end of the 2010, [...]

Here’s a quick pop quiz about buyer preferences that’s based on research by the National Association of Realtors.  So test your knowledge of today’s Buyers – some answers may surprise you: 1. What’s was the median size of homes purchased between late 2005 and early 2007? A.    2,230 square feet B.    1,840 square feet C.    [...]