30 year fixed mortgage rates dropped .5% today to as low as 5.375% after the Federal Reserve said it would implement a $600 billion plan to support the mortgage securities market.
For a homeowner with a $200,000 loan, this equals a savings of $80 per month in their mortgage payment, for a total savings of nearly [...]
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Mortgage rates fell this week amid furthering signs of a weakening economy. Fannie Mae and Freddie Mac said they would help streamline the modification of loans for potentially hundreds of thousands of homeowners who are 90 days or more behind on their mortgage payments. This, along with similar plans recently announced by many banks, should [...]
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Area homes losing value
Web site report: 1.6% loss for Richmond area, 9.7% decline for nation
Thursday, Nov 13, 2008
By CAROL HAZARD
TIMES-DISPATCH STAFF WRITER
Most homes in the Richmond area have lost value from a year ago, although the loss is not as great here as it is nationally, according to a report released yesterday by Zillow.com.
Moreover, 13.4 [...]
Filed under: Pricing, Real Estate, Statistics | Leave a Comment »
These Cities Are In Line for a Rebound
Have we reached bottom? In many cities, knowledgeable observers say yes.
In October 2005 at the peak of the boom, the median sales price for a U.S. home reached 7.3 times per capita income. By this May it was 5.7 times, just about the historical norm. Home inventories have [...]
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Presentation at the National Association of REALTORS national convention on Nov 7th 2008 for the Member Information Services Forum. Presenters were Wes Atiyeh, Maggie Morris, Lennox Scott and Live agents in the field that have been using Social Media and Blogging to their advantage: Amy Serra Albright, and Tony Schippa.
Here is a link to the blog [...]
Filed under: Business & Careers, Real Estate | Leave a Comment »
