U.S. home prices rose 1.7% in January compared with December, the Federal Housing Finance Agency reported Tuesday. It was the first monhtly increase in a year. The unexpected rise in January was partially due to stronger sales in isolated markets. The agency warned that its estimate was uncertain and subject to large revisions. Several consecutive months of improved prices will be necessary before we can call this a true turnaround.
David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week's Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.
The historical rate of households owning homes is 68%. During the housing boom of 2003 through 2006, that number increased to 75%. The increase in home ownership had a lot to do with the expansion of credit available; specifically, bad credit risks that are now in the throes of foreclosures and short sales. According to the Mortgage Bankers Association, the delinquency rate (beginning with payments at least 30 days late) for all loans is 7.88%, the foreclosure rate is 3.30%. It would not be surprising if that figure returns to the historical average of 68%.
Therefore, we need to absorb the homes owned by the folks who should not have qualified for a loan in the first place and are now exiting the ownership market and seeing their homes being conveyed as short sales, foreclosures or REO/bank owned listings. This is a tragic situation for each owner facing foreclosure of course.
We're two years into this difficult process and the good news is our housing market is going to recover and it will do so sooner as opposed to later.
If you would like a list of short sale listings or bank owned properties, please feel free to give me a call or send me an e-mail.
David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week's Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.
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253 North 3rd St., Buckley, WA, 98321
Closing Date: March 27th 2009
List Price: $189,818
Sale Price: $194,700
Bedrooms: 3
Bathrooms: 1
Year Built: 1972
Square Feet: 1200
MLS: 28182481
This Home Is Move-In-Ready & Features A Large Kitchen With Dinette Area That Leads Out To A Patio & Private Yard Complete With A Fire Pit And A Full Fence. This Home's Interior Has Been Freshly Painted & Upgraded With New Carpet & Laminate Flooring. The Home Boasts 3 Bedrooms, 1 Bathroom And A Fireplace That Will Keep You Warm On Cold Winter Nights. Owner Financing Is Available! For more information visit www.davidjedwards.com/30111.asp or call 425-890-8045.
For More Information Visit: http://www.davidjedwards.com/30111.asp
Virtual Tour: http://www.flyinside.com/tour.php?id=30111.asp
This home is no longer available. However, if you would like to preview homes similiar to this, please contact me to arrange for a free buyer's consultation.
Best Regards!
David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week's Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.
Last Friday's news showed that consumers are being understandably cautious with their finances, as the Personal Savings rate remained above 4% once again in February and among the highest savings levels seen in a decade. The last five years can be seen in the chart. And notice it wasn't that long ago that the US had a negative savings rate - that's right, as a nation, we regularly spent more than we made.
There's room for cautious optimism on the economy, as good news was noted on several fronts last week. The housing market received good news when both Existing Home Sales and New Home Sales came in stronger than expected. Additionally, Durable Goods Orders for February came in better than expected, showing the first increase in six months, and the Core Personal Consumption Expenditure Index (Core PCE) showed inflation is presently at tolerable levels. Plus, the US Dollar received a boost when China said it will continue to purchase US Treasuries.
David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week's Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.
Stocks have been trading higher after Treasury Secretary Geithner unveiled a plan to remove toxic assets from financial institutions using money from the $700 Billion TARP fund. The government will mitigate the risk by offering private investors billions of dollars in low-interest loans to finance the purchases.
On Monday, the housing market received good news when the Existing Home Sales came in stronger than expected. And, the US Dollar received a boost when China said it will continue to purchase US Treasuries, despite saying last week they were concerned about the value of those Treasuries.
Rates
Conventional 30 year fixed @ 4.875%
Conventional 15 year fixed @ 4.50@
FHA/VA 30 year fixed @ 5.00%
FHA/VA 15 year fixed @ 5.375%
Dow Jones - DJIA @ 7600 up 322points
David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week's Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.
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