Conditions in the mortgage market are improving for consumers, which should help to release some pent-up demand in early 2008, according to the latest forecast by the National Association of Realtors®.
Lawrence Yun, NAR senior economist, notes that widening credit availability will help turn around home sales. “Conforming loans are abundantly available at historically favorable mortgage rates. Pricing has steadily improved on jumbo mortgages since the August credit crunch, and FHA loans are replacing subprime mortgages,” he said.
Read the full article here, and remember that the Ludlow VT real estate market is always changing from month to month and neighborhood to neighborhood. For the most up-to-date information about Ludlow VT real estate, please call me at 802-353-1983 or visit ISellVermontRealEstate.com. Also click here to request relocation information!
Showing posts with label national association of realtors. Show all posts
Showing posts with label national association of realtors. Show all posts
Thursday, October 18, 2007
Friday, May 18, 2007
60 Minutes Attack On Realtors
I have always enjoyed 60 Minutes and thought they provided fair and unbiased reporting. But that changed Sunday night with Leslie Stahl's segment, Chipping Away At Realtors Six Percent.
The report focused on an Internet based company, Redfin, whose business model is based on rebating commissions to buyers. The company uses the very commissions Redfin criticizes Realtors for collecting to its advantage. From what I could tell, without these commissions Redfin has nothing to offer the consumer.
Much of the information presented in the segment was incorrect and the National Association of Realtors was not interviewed to give another viewpoint, even though they offered more than once.
NAR's response to 60 Minutes can be read here.
The report focused on an Internet based company, Redfin, whose business model is based on rebating commissions to buyers. The company uses the very commissions Redfin criticizes Realtors for collecting to its advantage. From what I could tell, without these commissions Redfin has nothing to offer the consumer.
Much of the information presented in the segment was incorrect and the National Association of Realtors was not interviewed to give another viewpoint, even though they offered more than once.
NAR's response to 60 Minutes can be read here.
Sunday, April 08, 2007
Pending Home Sales Index Declines
The National Association of Realtors reports the Pending Home Sales Index, which is based on contracts signed in February is at 109.3, down 8.5 percent from February 2006. David Lereah, the chief economist for NAR, attributese this decline to unusually bad weather in February and the problems in the subprime market. Read the full story...
For updates on Ludlow real estate market, visit my website or give me a call at 800-659-1819 #103.
For updates on Ludlow real estate market, visit my website or give me a call at 800-659-1819 #103.
Thursday, February 22, 2007
To Buy Or Not To Buy?
In a slowing real estate market, buyers often ask is it better to buy now with low interest rates or is it better to wait and see if prices will drop. If I had a crystal ball and could tell you this, I would probably be retired on a tropical island somewhere, but I can give you a couple of insights.
Interest rates have been hovering around 6.5 percent for over a year and there are no indications that this will change any time soon. The minor fluctuations in rates we have been seeing don't really effect your payment much.
Say you have a loan for $100,000. At 6.5 percent the payment on a 30-year fixed rate loan is $650. If the interest rate drops by 0.5 percent it only brings your monthly payment down $5.00. You would have to see a dramatic drop (or increase) in rates for it too effect your pocket book.
Will housing prices drop? The National Association of Realtors is predicting a rising market throughout 2007. Also, it is almost March and spring is the busiest time of year in real estate. Historically, prices increase in the spring which means gambling on a drop in prices may not be a great gamble.
Confused? Give me a call at 800-659-1819 #103. I am glad to discuss this with you further. Or visit my website. Here you can view all Ludlow, VT homes for sale.
Interest rates have been hovering around 6.5 percent for over a year and there are no indications that this will change any time soon. The minor fluctuations in rates we have been seeing don't really effect your payment much.
Say you have a loan for $100,000. At 6.5 percent the payment on a 30-year fixed rate loan is $650. If the interest rate drops by 0.5 percent it only brings your monthly payment down $5.00. You would have to see a dramatic drop (or increase) in rates for it too effect your pocket book.
Will housing prices drop? The National Association of Realtors is predicting a rising market throughout 2007. Also, it is almost March and spring is the busiest time of year in real estate. Historically, prices increase in the spring which means gambling on a drop in prices may not be a great gamble.
Confused? Give me a call at 800-659-1819 #103. I am glad to discuss this with you further. Or visit my website. Here you can view all Ludlow, VT homes for sale.
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