This and That
A friend sent an email asking about a home and wondered "Do they want to sell or were looking to see how much they can get?" General market forces and the appraisal contingency will determine the value of the home. If it does not appraise it will likely not happen. The psychology of overpricing could fill a library or Kindle. Really though, if your overpriced by way over fair market value - both seller and listing agent are complicit in the bad mojo that it brings on. Not that many buyers, ignorant of market information, walking around with loads of cash showing up on a doorstep offering to overpay.
New government regulations on appraisals will impact all financed transactions. Those folks at Fannie and Freddie have done such a wonderful job as stewards of the nations real estate market. I am sure this is well thought out and beneficial for all parties. Read about it here.
I received a call on one of our listings asking for a concession. While it is reasonable to ask for these things there needs to be at least a sliver of market reality behind it. The only concession I should have offered was that the ice cream truck usually rolls through Aviano at 5:30 PM.
From Stuart Crawford at VIP Mortgage:
"Most of the news last week was not good for mortgage rates. The economic data was generally a little stronger than expected, and investor concerns about Europe decreased. As a result, after reaching new lows early in the week, mortgage rates ended the week higher.
Against a consensus forecast of 60K, the economy added 103K jobs in September, and the data for July and August was revised higher by 99K. The Unemployment Rate remained at 9.1%, as expected. The good news for the economy is that the Employment report surpassed expectations and makes a recession look less likely. Still, stronger job gains are needed to bring down the Unemployment Rate.
In recent weeks, investor sentiment has been gradually shifting toward an increased likelihood for a Greek debt default of some sort. Investors have become less worried about the impact, though, largely due to the safety measures which have been implemented. This week, European officials made available additional aid packages for struggling European nations and banks if needed. The effect on US markets was that investors were more willing to invest in riskier assets, which helped stocks and hurt bonds, including mortgage-backed securities (MBS).
The most significant economic report released this week will be Retail Sales on Friday. Retail Sales account for about 70% of economic activity. The FOMC Minutes from the September 21st Fed meeting will come out on Tuesday. Mortgage markets will be closed Monday for Columbus Day."
Stuart can be reached at 480-776-2954 or scrawford@vipmtginc.com
www.TheCrawfordTeamNow.com
Tags:aviano,desert ridge,phoenix,real estate,villages at aviano,fireside,Arizona,short sale,foreclosure,fireside at desert ridge,Toll Brothers,pulte del web,bella monte. Information and pictures supplied by MLS and deemed reliable but not guaranteed. Proud to wake up, live and work in the great State of Arizona. Contact me at 480.330.0735 or doug0735@gmail.com
New government regulations on appraisals will impact all financed transactions. Those folks at Fannie and Freddie have done such a wonderful job as stewards of the nations real estate market. I am sure this is well thought out and beneficial for all parties. Read about it here.
I received a call on one of our listings asking for a concession. While it is reasonable to ask for these things there needs to be at least a sliver of market reality behind it. The only concession I should have offered was that the ice cream truck usually rolls through Aviano at 5:30 PM.
From Stuart Crawford at VIP Mortgage:
"Most of the news last week was not good for mortgage rates. The economic data was generally a little stronger than expected, and investor concerns about Europe decreased. As a result, after reaching new lows early in the week, mortgage rates ended the week higher.
Against a consensus forecast of 60K, the economy added 103K jobs in September, and the data for July and August was revised higher by 99K. The Unemployment Rate remained at 9.1%, as expected. The good news for the economy is that the Employment report surpassed expectations and makes a recession look less likely. Still, stronger job gains are needed to bring down the Unemployment Rate.
In recent weeks, investor sentiment has been gradually shifting toward an increased likelihood for a Greek debt default of some sort. Investors have become less worried about the impact, though, largely due to the safety measures which have been implemented. This week, European officials made available additional aid packages for struggling European nations and banks if needed. The effect on US markets was that investors were more willing to invest in riskier assets, which helped stocks and hurt bonds, including mortgage-backed securities (MBS).
The most significant economic report released this week will be Retail Sales on Friday. Retail Sales account for about 70% of economic activity. The FOMC Minutes from the September 21st Fed meeting will come out on Tuesday. Mortgage markets will be closed Monday for Columbus Day."
Stuart can be reached at 480-776-2954 or scrawford@vipmtginc.com
www.TheCrawfordTeamNow.com
Tags:aviano,desert ridge,phoenix,real estate,villages at aviano,fireside,Arizona,short sale,foreclosure,fireside at desert ridge,Toll Brothers,pulte del web,bella monte. Information and pictures supplied by MLS and deemed reliable but not guaranteed. Proud to wake up, live and work in the great State of Arizona. Contact me at 480.330.0735 or doug0735@gmail.com
