There was a new listing on the market by 36 year owners Bill and Jacky Grimsaw, the Presidents former neighbors.
Banks, insurance and auto industry giants all definitely have one thing in common, they all received generous bailout funds to make sure their companies did not go bankrupt. Surprisingly, most of the companies are paying back the funds sooner than expected. The economy is on the right track and hopefully this means we are getting […]
There were many investors and individuals who right away knew the housing blowup was coming, how did so many people miss it?
Borrowers in foreclosures or short sales will qualify for a new tax break. On April 8, 2010 California Legislature approved a tax break to further assist distressed homeowners. The bill is expected to waive state taxes on mortgage debt that was forgiven in a foreclosure or short sale. About 34,000 taxpayers are expected to benefit […]
The first week the Federal Reserve was no longer buying mortgage-backed securities interest rates increase to 5.32% from 5.08% for a 30-year fixed mortgage. They had purchased $1.25 trillion debt and this has kept mortgage rates below 5%. The increase is said to be due to signs of the economy slowly recovering rather than the […]
When the unemployment rate is high, consumer spending is less. As of March there has been an addition of 162,000 new payroll jobs. Compared to the past three years every month thousands of jobs were lost. Definitely purchasing a home is not on the individuals priority list, their main goal is making it through the […]
Also known as the “President’s Palace”, was built in 1792 and designed by Irish architect James Hoban.
Freddie Mac has reported mortgage rates of 5.08% for this week. Last week the rate was 4.99%, still below the 5% mark it has been for a few months now. The rate increase might be due to the economy gradually stabilizing as well as the federal government’s decision to no longer fund the mortgage market. […]
On June 1st we expect more changes to the modifications programs…
Housing prices are still held low due to the increase of foreclosed homes and the increased amount of home inventory on the market.