So on Friday it was leaked that the government is taking over Freddie Mac and Fannie Mae. On Sunday it was official. Freddie Mac and Fannie Mae have now been taken over by the federal government. But what does it mean for the real estate market, mortgage interest rates, and the US economy? First let’s […]
A slew of positive reports on the housing and economic fronts helped the markets regain some confidence in the past week. Preliminary Growth Domestic Product estimates showed the U.S. economy growing at a surprisingly healthy pace while the Consumer Confidence Index posted its second straight monthly gain. Leading economic indicators, however, posted a noticeable drop […]
After the gloom in the media and on Wall Street about housing values, someone forgot to check the stats! Recently there have been a lot of stories about isolated areas that have seen 20% reductions in home values. Most agree that these areas saw the highest run-ups over the last few years. What seems to […]
The US Department of Energy (DOE) recommends an energy audit as the first step in assessing your energy consumption and improving the energy efficiency of your home. A do-it-yourself inspection can be a good way to determine problem areas. This can include checking for air leaks, evaluating your insulation levels, and regularly inspecting heating and […]
The two biggest sources of mortgages for American home buyers plan to raise their base fees to counter what they see as continuing “adverse conditions’ in the real estate marketplace. At the same time, however, Fannie Mae & Freddie Mac which currently fund more than ¾ of all new home loans also plan to selectively […]
This week, several reports will show us whether or not inflation is getting hotter. Thursday’s Consumer Price Index (CPI) report will show us inflation at the consumer level – that is, how much more expensive goods and services are for consumers this month over last month. If CPI shows that inflation is growing, Bonds and […]
In a sign that the U.S. housing market may strengthen in the coming months, an index of sales contracts on previously owned U.S. homes rose 5.3% in June from the prior month, the National Association of Realtors reported Thursday. The index, which is considered to be a leading indicator of existing home sales, reached its […]
First, the Don’ts:· Don’t Focus on small details – If you have a compelling offer, don’t jeopardize it by focusing on items such as who keeps the drapes. · Don’t Dismiss offers out of hand – read and consider all offers; sellers often balk at their first offer, but statistics have shown the first offer […]
The Real Estate Corner Q. What should we know about buying homeowner’s insurance? A. Getting homeowner’s insurance should be a fairly simple process. Your goal is to get enough coverage to rebuild your house and replace the contents in the event of a total loss of your home. Along with insuring your house, you also […]
Q. We‘re getting our home ready for sale. Should we have a pest inspection now and it really necessary? A. The state of California and most lenders require that the seller or buyer obtain a Wood-Destroying Pest Inspection Report and Lenders will require an “All Clear” prior to funding. Termites can devastate a dwelling and […]
