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As you can see from the sales trends above, the highest concentration of sales is in the $ 200,000-250k price range for the second year in a row. The introduction of the First Time Home Buyer's Tax Credit is to be acknowledged for the growth in these market segements. For the first time in many years we're seeing the re-introduction of home listed below $ 200,000. This is due in part to the entry of bank owned properties & short sales. Inventory in our area continues to drop from the record highs of 2008. Continued inventory declines are to be expected through the end of: 2009, when I expect another 100 listings to expire. I'm optimistic that we'll start see signs of a recovery in mid-2010.
Astoria has long been reported as a top Retirement City. Now is the time for those looking to capitalize on some of the many market opportunities.
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Todd
Clark - Broker / Sales Coach
Palazzo Realty Group
Phone: (503)524-9494
Fax: (503)622-8739






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Classic New Contemporary Style Home has it all! Appointments include: large lot with coast range view, sought after 4-bedroom, 3-full bath floor plan, custom cabinetry with granite counters throughout, lower level family room, 3-car garage with shop & so much more!
View More Information At: http://www.postlets.com/repb/2818122
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Zillow.com is reporting that almost 25% of all mortgagors owe more money on their mortgage than their home is worth and that figure may increase to 30% by mid 2010.

Home values dipped in the second quarter from a year earlier in almost 90% of the 161 U.S. metropolitan areas surveyed by Zillow. 23% of mortgage holders were underwater at the end of June, Zillow said. In June, foreclosures accounted for 22% of total U.S. home sales, and 29% of homes sold were purchased for less than what the owner originally paid, according to Zillow.
Is this the the stock market retracement everyone has been expecting?
The indexes are weaker again this morning. If equities are entering a reversal and profit-taking period interest rates will head back lower. Can't be sure of the timing but the stock market is way out in front of reality. However equity markets on rallies generally anticipate economic improvement six months to one year in the future.
Analysts are concerned because unemployment is continuing to increase, consumers have shut down (June consumer credit last Friday fell $10.1B, 2.5 times weaker than expected) and home prices are still declining in many areas.
HUD just announced that starting this week the FHA will refinance troubled mortgages by reducing up to 30% of the principal under the Home Affordable Modification Program.
The FOMC begins its two day meeting this morning. Analysts do not expect changes in interest rates. The Fed has been forecasting a bottom in this quarter and a slow economic improvement. The stock market will be listening carefully to Mr. Ben Bernanke's comments.
Watch Bob Prechter video by clicking here
If you are waiting to lock your interest rate keep a watchful eye!
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Our services include personal budgeting, financial planning, retirement planning strategies and real estate contract review.
You can find information relating to mortgages including calculators, current rates, buying a home, refinancing, VA, FHA, USDA, Conventional and Jumbo loans by clicking here
Licensed to broker loans with over 300 lenders including Bank of America, Wells Fargo, Citimortgage, Met Life, Fifth Third Bank, Flagstar, ING,Luther Burbank, Provident, Suntrust, US Bank and many more.
Find a home with our network of professional real estate agents interviewed and selected for their extensive knowledge and expertise!
Send us an e-mail with the city and state. nevin@nevinloans.com
You may also call us (888) 206-5781 My extension is 1017
"First Priority Financial, Inc. is licensed by the CA DRE, license #00654852."
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Want a complimentary personal quote or loan pre approval? Click here
Mortgage rates are higher! See the Oregon mortgage rate chart below.
Is this good news or bad news? Mortgage rates are higher but so are stocks. I guess it depends if you have a large investment portfolio, IRA, 401K or if you want the lowest mortgage rate. Who says you can't have your cake and eat it too? You can! First you have to understand how it works.
Stocks and mortgage rates have a love hate relationship. When stocks are higher the market sells their mortgage backed securities (MBS) in the form of bonds which causes the mortgage rates to increase. Obviously in this scenario you will not get the lowest mortgage rate. When the market feels pessimistic about the economy and sells off stocks and diverts their money to bonds as a safer alternative, mortgage rates drop. I guess you could say good news is bad news for mortgage rates and bad news is good news! If your mortgage broker takes advantage of this usually short lived drop you can get the lowest mortgage rate for that day, week or even month!
It really is that simple...well almost. There are times when the market will sell both stocks and bonds and take a cash position so now you have the stock market dropping and mortgage rates increasing. Not a pretty scenario. Lucky for us these types of days are short lived and either the stock market or the bond market recovers rather quickly.
All of this also means that mortgage rates change daily. Sometimes even hourly if there are big swings in the purchase and sale of MBS. That being said, to get the lowest mortgage rate it is imperative that you hire an experienced mortgage broker who carries "cutting edge technology" allowing them to lock your mortgage rate before it increases. Failure to lock early could cost a homeowner tens of thousands of dollars over the course of the loan. FYI - getting the lowest mortgage rate isn't going to be free.
Low fee brokers. What can I say? If the broker makes their money on volume rather than quality do you really think they will spend time monitoring the bond market, waiting for a rate to drop before locking in your mortgage rate? Probably not. They don't have time. They need to close as many loans as effortlessly as possible to make a profit. This leaves you with a loan that carries less fees but a higher monthly mortgage payment for many years. It is unlikely that a low fee broker will get you the lowest mortgage rate.
You can count on us to lock you in when the mortgage rates drop. We don't work for free but we won't gouge you either. We are fairly and competitively priced when it comes to loan fees and will make sure you know up front what it will cost you to purchase or refinance your home. No games, no nonsense just the facts. We will work hard to get you the lowest mortgage rate by taking the time to monitor the bond market before submitting your mortgage rate lock.
For a complimentary loan quote or pre approval click here
Thanks for visiting my blog!
| Conforming Mortgage Interest Rates*Please call or e-mail us for government rates FHA,VA & USDA | ||||||||||||||||||||||||||||||||||||||||||||||||||
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Want a complimentary personal quote or loan pre approval? Click here
Active members Better Business Bureau & National Association of Mortgage Brokers
Complimentary home search! Clatsop county properties (Astoria/Warrenton/Seaside) click here
Questions? E-mail Jenni Clark
RE/MAX River & Sea
Astoria Oregon
(503) 440-1968
Our services include personal budgeting, financial planning, retirement planning strategies and real estate contract review.
You can find information relating to mortgages including calculators, current rates, buying a home, refinancing, VA, FHA, USDA, Conventional and Jumbo loans by clicking here
Licensed to broker loans with over 300 lenders including Bank of America, Wells Fargo, Citimortgage, Met Life, Fifth Third Bank, Flagstar, ING,Luther Burbank, Provident, Suntrust, US Bank and many more.
Find a home with our network of professional real estate agents interviewed and selected for their extensive knowledge and expertise!
Send us an e-mail with the city and state. nevin@nevinloans.com
You may also call us (888) 206-5781 My extension is 1017
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