Thursday, September 25, 2008

Google has it's on BROWSER now!

This is pretty neat. Google just came out with their own Browser! I just downloaded it and it's pretty neat. It's better than Internet Explorer. Not sure about Vista... because, I've never used it.


Tuesday, September 23, 2008

Real Estate Outlook: Predicting the Stock Market's Affect on Housing

With the unprecedented shocks on Wall Street and the financial sector still pulsing through the national economy, it's difficult to predict just how all this will ultimately affect real estate.

But so far at least, Wall Street's troubles aren't creating immediate problems for home buyers, sellers and real estate professionals. In fact, conditions actually appear to be improving.

Read More......

Ivie's Article Review:

I like the last paragraph of this article: "So all in all, given the earthquakes underway in the financial system, things look surprisingly positive".

I agree.

This past year has been a great year for some fantastic buys. Granted, most of my sales have been waterfront cottages. The biggest thing is: PEOPLE ARE STILL BUYING! There are some great deals to be found.

As far as "off water" housing, this years statistics haven't been so optimistic. With all of the foreclosures in the area, competing with other home sales... it's been driving prices down. Investors are taking advantage of buying up many of these foreclosure homes, anticipating an upswing in the housing market, to come. Not only that, rental units are currently in high demand. Some local investors are buying foreclosed homes to fix up and rent.

Many predict that 2009 will be a better year. That’s good news! I feel that once the presidential elections are out of the way, people will get back to business as usual. Things will improve!

Monday, September 22, 2008

Viva Las Vegas!

Jim and I went to Las Vegas in early September. If you'd like to see some photos of our Vegas trip, click here!

We had a great time. However, believe it or not, WE DIDN'T Gamble! Honest truth! We were there for a convention.

Here I am with Elvis and the BRONZE GUY? What is he supposed to be, anyway?

Also, we just launched our Gladwin Real Estate FUN PAGE, for non-real estate related fun stuff. Here is the link:

I'll post more fun stuff on there soon.

Washington Report: Snag for FHA Hope

Although Wall Street's woes got a lot of attention on Capitol Hill last week, so did the continuing crisis in home foreclosures.

Starting October 1, home owners who owe more on their mortgage than their property is worth may be able to qualify for new FHA "Hope" refinancings that cut their debt, lower their interest rates and help them start rebuilding equity.

Sounds like a great opportunity for hundreds of thousands of hard-pressed owners, but there's a huge potential snag: Their lenders and loan servicers have to agree to participate, and they may not.

Ivie's Article Review:

This sounds good, but at the same time, banks are not required to participate in the program. The reason is, lenders and bond market owners of mortgages will have to agree to write down the balances due on the loans below current market values for the house... meaning that lenders make need to AGREE to take a sizable loss in ADVANCE. However, the alterative might be that the banks still end up foreclosing. That's a loose... loose situation for everyone! When a bank forecloses on a house, normally they will only resell for a fraction of what it owed. At least, that's what I'm seeing in our market, up here in Gladwin County and surrounding areas.

Saturday, September 20, 2008

30-Year Fixed Rate Mortgage Rates Fall for Fifth Straight Week

McLEAN, VA -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.78 percent with an average 0.6 point for the week ending September 18, 2008, down from last week when it averaged 5.93 percent. Last year at this time, the 30-year FRM averaged 6.34 percent. The last time the 30-year FRM was lower was the week ending February 14, 2008, when it averaged 5.72 percent.

Read more...........