Showing posts with label loan programs. Show all posts
Showing posts with label loan programs. Show all posts
Wednesday, October 17, 2012
Thursday, December 2, 2010
Thursday, September 23, 2010
Tuesday, April 20, 2010
Friday, February 19, 2010
Wednesday, December 2, 2009
Saturday, September 26, 2009
Monday, August 10, 2009
Thursday, May 7, 2009
Monday, March 30, 2009
Tuesday, January 27, 2009
S&P: Dallas-area home prices down 3.3%
S&P: Dallas-area home prices down 3.3%
11:57 AM CST on Tuesday, January 27, 2009
By STEVE BROWN / The Dallas Morning News
stevebrown@dallasnews.com
Dallas home prices dipped by more than 3 percent in the latest gauge of nationwide home values.
But Dallas' decline in November from a year earlier was the lowest of any U.S. market in the closely-watched Standard & Poor's/Case-Shiller Home Price Index.
Nationwide home prices dropped by a record 18.2 percent in the monthly report while Dallas prices fell by only 3.3 percent, according to the report released early Tuesday.
“The freefall in residential real estate continued through November 2008,” S&P's David M. Blitzer said in the report.
It was the 28th consecutive month of nationwide price declines.
In the Dallas area, prices peaked in June 2007. Since then, they've declined by about 6 percent.
Phoenix, with a decline of 32.9 percent, and Las Vegas, down 31.6 percent, had the biggest annual declines in the just-released Case-Shiller report.
The survey tracks the prices of typical single-family homes located in each metropolitan area. The index survey does not include condominiums and townhouses. It only covers pre-owned properties – no new construction.
The Case-Shiller researchers compare sales of specific single-family homes over time.
The November Dallas price decline was in line with other recent studies which show that overall home prices in North Texas have fallen only slightly in the last year.
Along with Dallas, the lowest U.S. home price declines were reported in Denver (-4.3 percent) and Charlotte (-5.3 percent).
S&P/CASE-SHILLER HOME PRICE INDEX
Metropolitan area November 1-year change
Atlanta -11.2%
Boston -7.4%
Charlotte -5.3%
Chicago -12.5%
Cleveland -5.2%
Dallas -3.3%
Denver -4.3%
Detroit -20.7%
Las Vegas -31.6%
Los Angeles -26.9%
Miami -28.7%
Minneapolis -16.3%
New York -8.6%
Phoenix -32.9%
Portland -11.5%
San Diego -25.8%
San Francisco -30.8%
Seattle -11.2%
Tampa -20.9%
Washington -19.4%
Composite-20 city -18.2%
11:57 AM CST on Tuesday, January 27, 2009
By STEVE BROWN / The Dallas Morning News
stevebrown@dallasnews.com
Dallas home prices dipped by more than 3 percent in the latest gauge of nationwide home values.
But Dallas' decline in November from a year earlier was the lowest of any U.S. market in the closely-watched Standard & Poor's/Case-Shiller Home Price Index.
Nationwide home prices dropped by a record 18.2 percent in the monthly report while Dallas prices fell by only 3.3 percent, according to the report released early Tuesday.
“The freefall in residential real estate continued through November 2008,” S&P's David M. Blitzer said in the report.
It was the 28th consecutive month of nationwide price declines.
In the Dallas area, prices peaked in June 2007. Since then, they've declined by about 6 percent.
Phoenix, with a decline of 32.9 percent, and Las Vegas, down 31.6 percent, had the biggest annual declines in the just-released Case-Shiller report.
The survey tracks the prices of typical single-family homes located in each metropolitan area. The index survey does not include condominiums and townhouses. It only covers pre-owned properties – no new construction.
The Case-Shiller researchers compare sales of specific single-family homes over time.
The November Dallas price decline was in line with other recent studies which show that overall home prices in North Texas have fallen only slightly in the last year.
Along with Dallas, the lowest U.S. home price declines were reported in Denver (-4.3 percent) and Charlotte (-5.3 percent).
S&P/CASE-SHILLER HOME PRICE INDEX
Metropolitan area November 1-year change
Atlanta -11.2%
Boston -7.4%
Charlotte -5.3%
Chicago -12.5%
Cleveland -5.2%
Dallas -3.3%
Denver -4.3%
Detroit -20.7%
Las Vegas -31.6%
Los Angeles -26.9%
Miami -28.7%
Minneapolis -16.3%
New York -8.6%
Phoenix -32.9%
Portland -11.5%
San Diego -25.8%
San Francisco -30.8%
Seattle -11.2%
Tampa -20.9%
Washington -19.4%
Composite-20 city -18.2%
Monday, January 12, 2009
Local market from my perspective
From Thanksgiving to the end of January, the Real Estate Market has typically been very slow. This year is no exception.
Not to say that I haven't been selling, just selling a lot less than I normally do. The economy overall has been taking a pounding. Enough to shut down car manufacturers for short time periods which I never thought would happen.
When buyers are cautious about buying a sweater, television or even a car, can you imagine their thoughts about buying a house? We are all in this market together so I'm sure you understand where I'm coming from.
The good news for our market is #1. House prices in our market have not taken a beating. Are we down a little in value? Sure. But it is a slight correction and our home prices are stable and sound and have paved the way for #2. We have a strong job market. Business is moving out of high priced areas and coming to places where cost of living is much less. Dallas is the 3rd strongest market right now behind Seattle and Houston. #3. Business relocation will continue to bring new buyers into our market and builders have slowed with oversupply. This should start healing the balance between supply and demand.
Call me and lets talk your real estate needs through. Thanks JJ.
Not to say that I haven't been selling, just selling a lot less than I normally do. The economy overall has been taking a pounding. Enough to shut down car manufacturers for short time periods which I never thought would happen.
When buyers are cautious about buying a sweater, television or even a car, can you imagine their thoughts about buying a house? We are all in this market together so I'm sure you understand where I'm coming from.
The good news for our market is #1. House prices in our market have not taken a beating. Are we down a little in value? Sure. But it is a slight correction and our home prices are stable and sound and have paved the way for #2. We have a strong job market. Business is moving out of high priced areas and coming to places where cost of living is much less. Dallas is the 3rd strongest market right now behind Seattle and Houston. #3. Business relocation will continue to bring new buyers into our market and builders have slowed with oversupply. This should start healing the balance between supply and demand.
Call me and lets talk your real estate needs through. Thanks JJ.
Tuesday, January 6, 2009
Economic and Market Watch Report 2nd Quarter 2008
Click here to veiew the best numbers regarding our North Texas Real Estate Information System Economci and Market Watch Report for the 2nd Quarter for 2008.
If you should have questions regarding this important information, please feel free to call. Like every year, the market takes a slow down from Thanksgiving to the end of January.
If you should have questions regarding this important information, please feel free to call. Like every year, the market takes a slow down from Thanksgiving to the end of January.
Monday, December 22, 2008
CBS NEWS VIDEO
Mortgage meltdown to continue. Some areas are to be more affected than other areas.
CLICK HERE TO WATCH 60 MINUTE SPECIAL
CLICK HERE TO WATCH 60 MINUTE SPECIAL
Saturday, June 28, 2008
Hope for housing is hope for the economy
Has anyone not noticed the cost of gas and milk has topped $4.00 a gallon? There is a growing chorus of voices chanting the "Inflation Is Here" mantra. Even though the White House and Federal Reserve are not quite ready to join in, the facts are prices in many sectors of the economy are on the rise.
This past week Warren Buffett, the quiet billionaire investor behind Berkshire Hathaway (BRK, Fortune 500), joined in the debate, "I think inflation is really picking up.It's huge right now, whether it's steel of oil.we see it everywhere."
Normally, the Fed will raise rates to discourage the acceleration of inflation. So, why is this cycle any different, why is the Fed likely to keep rates on hold for the near future?
Rising interest rates are the enemy of housing. The glut of unsold housing is a block to economic growth and any upward movement of rates will stunt economic recovery and prolong the current stall. In order for housing and commercial real estate, for that matter, to recover we must maintain a financial environment friendly to lending and borrowing. And it will take time for the demand for housing to absorb the excess inventory. A 6-month inventory is considered a buyer's market. Today, there is a 10.7-month supply.
The Joint Center for Housing Studies at Harvard University recently released their "The State of the Nation's Housing 2008" which finds that over the next decade the country is poised for a increase in housing demand.
"The good news is that we still have a growing population.As long as you have more households, more people are going to need places to live," says Nicolas Retsinas, director of the Center.
"If household formation continues at pace, prices will recover and starts will rise again," says economist Karl Case, of Wellesley College and the consulting firm of Fiserv CSW.
According to Harvard study there are three social trends that will have major influence on the housing market over the next 10 years:
.People are marrying and divorcing more often - this is the fastest growing household type.
.The "echo boomers" are aging and about to enter the housing market.
.There is an increase in the life expectancy for "baby boomers."
.There is a projected annual immigration of 1.2 million.
The study finds from 2010 to 2020, the U.S. household count will grow by an average of more than 1.4 million per year.
Keeping rates low will feed the economy as these households enter the market.
This past week Warren Buffett, the quiet billionaire investor behind Berkshire Hathaway (BRK, Fortune 500), joined in the debate, "I think inflation is really picking up.It's huge right now, whether it's steel of oil.we see it everywhere."
Normally, the Fed will raise rates to discourage the acceleration of inflation. So, why is this cycle any different, why is the Fed likely to keep rates on hold for the near future?
Rising interest rates are the enemy of housing. The glut of unsold housing is a block to economic growth and any upward movement of rates will stunt economic recovery and prolong the current stall. In order for housing and commercial real estate, for that matter, to recover we must maintain a financial environment friendly to lending and borrowing. And it will take time for the demand for housing to absorb the excess inventory. A 6-month inventory is considered a buyer's market. Today, there is a 10.7-month supply.
The Joint Center for Housing Studies at Harvard University recently released their "The State of the Nation's Housing 2008" which finds that over the next decade the country is poised for a increase in housing demand.
"The good news is that we still have a growing population.As long as you have more households, more people are going to need places to live," says Nicolas Retsinas, director of the Center.
"If household formation continues at pace, prices will recover and starts will rise again," says economist Karl Case, of Wellesley College and the consulting firm of Fiserv CSW.
According to Harvard study there are three social trends that will have major influence on the housing market over the next 10 years:
.People are marrying and divorcing more often - this is the fastest growing household type.
.The "echo boomers" are aging and about to enter the housing market.
.There is an increase in the life expectancy for "baby boomers."
.There is a projected annual immigration of 1.2 million.
The study finds from 2010 to 2020, the U.S. household count will grow by an average of more than 1.4 million per year.
Keeping rates low will feed the economy as these households enter the market.
Wednesday, June 11, 2008
Thanks for the kind words Adam!
JJ's in-depth knowledge helped me out allot when I bought my first home. He was patient with me and explained every step of the buying process. I strongly recommend him if you are buying a home. Thanks, Adam Patel
402 Cimarron Trail, Irving
402 Cimarron Trail, Irving
Tuesday, February 19, 2008
Interest rates
Every Tuesday a.m. I meet with my primary mortgage lender and discuss mortgage trends. While rates have been very low, they are on the rise. You need to begin your homesearch immediatley to take advantage of the still low interest rates.
Give me a call and lets get you into that perfect new home.
Give me a call and lets get you into that perfect new home.
Monday, January 21, 2008
Mortgage rates mixed
Long-term mortgage interest rates were either flat or slightly higher Thursday, and the benchmark 10-year Treasury bond yield fell to 3.62 percent.
The 30-year fixed-rate average edged up to 5.43 percent, and the 15-year fixed rate stayed at 4.93 percent. The 1-year adjustable rate was up at 5.3 percent.
The 30-year Treasury bond yield dropped to 4.25 percent.
Rates and bonds are current as of 7:15 p.m. Eastern Standard Time.
Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.
In other economic news, the Dow Jones Industrial Average plummeted 306.95 points, or 2.46 percent, finishing at 12,159.21. The Nasdaq tumbled 47.69 points, or 1.99 percent, closing at 2,346.9.
Stock figures are current as of 7:30 p.m. Eastern Standard Time.
***
The 30-year fixed-rate average edged up to 5.43 percent, and the 15-year fixed rate stayed at 4.93 percent. The 1-year adjustable rate was up at 5.3 percent.
The 30-year Treasury bond yield dropped to 4.25 percent.
Rates and bonds are current as of 7:15 p.m. Eastern Standard Time.
Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.
In other economic news, the Dow Jones Industrial Average plummeted 306.95 points, or 2.46 percent, finishing at 12,159.21. The Nasdaq tumbled 47.69 points, or 1.99 percent, closing at 2,346.9.
Stock figures are current as of 7:30 p.m. Eastern Standard Time.
***
Tuesday, January 1, 2008
A Critical Guide to Home Loans
These tips are to help assist you in evaluating which mortgage is best for you. For further details on each of these guidelines, please call our hotline at
1-800-284-0913 x 5078.
1. First Things First -- Know What You Can Afford.
You can save yourself a lot of time and trouble if you take a few minutes to figure out the loan amount you can afford.
2. Avoid Unpleasant Surprises.
Once you know about any potential porblems, you can work on clearing them up before you apply.
3. Shopping for a Mortgage Lender.
Something also to remember- a mortgage broker is the legal agent of his or her client and does not work for the lending institution.
4. What a REALTOR Can Do For You.
A good real estate professional has long-standing relationships with home mortgage professionals and can point you in the right direction to answer any questions you have.
5. Which Loan Is Right For You?
With Adjustable-Rate Mortgages, ALWAYS assume the "worst case" scenario: Assume that your loan will always rise the maximum amount.
Fixed-rate mortgages make the most sense when interest rates are low and if you're planning to stay put for the next seven or more years.
Graduated-payment mortgages are more of a risk. Your early payments are so low that they don't cover the interest due, which results in negative amortization.
If you're a first-time homebuyer who plans to trade up before the loan comes due, you might ask your REALTOR about a balloon mortgage.
"The smart buyer makes sure to know exactly how much he or she can afford to borrow before beginning to look at homes."
For more information on selling or purchasing a home, feel free to call the hotline: 1-800-284-0913 x 5078
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