One thing that has a major drawback to the real estate market is the fluctuation of interest rates. When we see swings of rates even as low as .5% it can make a significant impact on someone's monthly payment. We published an article on www.InvestSmarter.com talking about the minimum monthly payment society that we live in and it really holds true. The majority of people are looking at what they can afford and then as a result what that does to their total amount they can borrow. Whether you are looking at cars or a home, it's all relative.
Daily Real Estate News June 24, 2008
Interest Rates Are Likely to Hold Steady
The Federal Reserve, which opens a two-day meeting today, is expected to leave its key interest rate unchanged at 2 percent when it wraps up the session on Wednesday. Mortgage rates are somewhat affected by this short-term rate, but are more closely tied to long-term U.S. Treasury rates and other concerns. Recent increases in mortgage rates have slowed the problem-plagued housing market and fueled inflation.So what's the Fed to do?"Tread lightly on rates and carry a big rhetorical anti-inflation stick," says Ken Mayland, president of ClearView Economics.Economists predict the Fed's policy statement, expected to be released Wednesday, probably will highlight inflation risks but won't go as far as to signal a rate increase at the Fed's next meeting Aug. 5.Source: The Associated Press (06/24/2008)
So for more information on homes for sale in Panama City Real Estate please visit us online at www.Panama-City-Beach-Florida-MLS.com or www.RandBCoastalRealEstate.com for more information about what is hot and exciting along the northern Florida Coast.
Tuesday, June 24, 2008
Monday, June 16, 2008
FHA Changes Tune on REO Flips
Everyone wants to make sure that the market doesn't get worse...so what does FHA decide to do? Limit the timeframe before someone could flip out of an REO property. Well that will definately put a slow down to the market! And what happened as a result? They have thought twice about this as the article below states:
Daily Real Estate News June 16, 2008
FHA Waives 90-Day Waiting Period
The Federal Housing Administration is lifting the mandatory 90-day waiting period it instituted in 2003 that delays the sale of REO properties.The waiting period, which never applied to properties sold by Fannie Mae, Freddie Mac or state- and federally chartered financial institutions, was imposed to make flipping more difficult. But as the number of REO homes gas grown, it has had the effect of flooding neighborhoods with properties.The change may help reduce the impact of foreclosures on some neighborhoods, but it won’t have as significant an impact as some might think, says Glen Daniels director of real estate-owned properties for Foreclosure.com. Many of the REO properties don’t meet FHA standards and will require rehabilitation before they can be sold to an FHA borrower, he points out.Source: Reuters News; Inman News, Matt Carter (06/13/2008)
Most of these homes as they point out whether here in Panama City or Panama City Beach Florida are in need of major repairs that will take more than 90 days anyway. It's just another stumbling block to try to get over the issues surrounding some of the key basic premises of real estate investing. For more advice turn to www.InvestSmarter.com
Daily Real Estate News June 16, 2008
FHA Waives 90-Day Waiting Period
The Federal Housing Administration is lifting the mandatory 90-day waiting period it instituted in 2003 that delays the sale of REO properties.The waiting period, which never applied to properties sold by Fannie Mae, Freddie Mac or state- and federally chartered financial institutions, was imposed to make flipping more difficult. But as the number of REO homes gas grown, it has had the effect of flooding neighborhoods with properties.The change may help reduce the impact of foreclosures on some neighborhoods, but it won’t have as significant an impact as some might think, says Glen Daniels director of real estate-owned properties for Foreclosure.com. Many of the REO properties don’t meet FHA standards and will require rehabilitation before they can be sold to an FHA borrower, he points out.Source: Reuters News; Inman News, Matt Carter (06/13/2008)
Most of these homes as they point out whether here in Panama City or Panama City Beach Florida are in need of major repairs that will take more than 90 days anyway. It's just another stumbling block to try to get over the issues surrounding some of the key basic premises of real estate investing. For more advice turn to www.InvestSmarter.com
Thursday, June 5, 2008
Welcome to the Launch of Panama City Real Estate
Welcome to the launch of the Panama City Real Estate website and current trends in Real Estate. We have taken the time to set up on online resource dedicated to making your search for real estate in Panama City more convenient. Everyone works all day and making time to view and look at property can be very time consuming. We know this and we have tried to put all this online for you to help save time, effort, and with today's gas prices.....money!!! More and more consumers, not only in the Panama City Real Estate market, but all over the country and abroad are turning to the internet for more choices when it comes to searching for Real Estate. Panama City Real Estate is no different! The resources online are getting better and better by the day and we have taken the time and spent the money to ensure that you have the most up to date and current information available when it comes to Panama City Real Estate. Take time today to look at our new website dedicated to your needs. Also see the article below reference to a slight decline the country is seeing in available property. This is always a great sign when we look at supply vs demand:
Daily Real Estate News June 5, 2008
Housing Inventories Decline Slightly in May Housing inventories in major metropolitan areas declined 0.3 percent in May, according to figures compiled by ZipRealty Inc.The data covers residential listings in local multiple-listing services in the 29 areas where Zip operates.The decline confirms that the supply of homes on the market is no longer soaring, although it remains above the four- or five-month level typical at the beginning of this decade.One in seven of the homes for sale are owned by financial institutions, according to an estimate from First American CoreLogic.
Source: The Wall Street Journal, James R. Hagerty (06/05/2008)
Housing Inventories Decline Slightly in May Housing inventories in major metropolitan areas declined 0.3 percent in May, according to figures compiled by ZipRealty Inc.The data covers residential listings in local multiple-listing services in the 29 areas where Zip operates.The decline confirms that the supply of homes on the market is no longer soaring, although it remains above the four- or five-month level typical at the beginning of this decade.One in seven of the homes for sale are owned by financial institutions, according to an estimate from First American CoreLogic.
Source: The Wall Street Journal, James R. Hagerty (06/05/2008)
Panama City Real Estate
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