AP – RECORD LOWS: Mortgage rates fell to the lowest levels in decades for the tenth time in 11 weeks, mortgage buyer Freddie Mac said Thursday. The average rate for a 30-year fixed loan was 4.32 percent. The 15-year fixed loan hit 3.83 percent. View full post on Yahoo! News: Business – Real Estate
Las ultimas noticias de lo que sucede en el mercado de propiedades en Estados Unidos
Federal Reserve Board Chairman Ben Bernanke has confirmed the Housing Predictor forecast that more than 2 million homes will be foreclosed as a result of the sub prime lending crisis.
In a hearing before the Congressional House Financial Services Committee in Washington D.C., Bernanke essentially confirmed the Housing Predictor forecast issued in early June, saying more foreclosures will occur as a result of fall out from the sub prime debacle.
However, he differed with one congressional committee member’s estimates that 1.5 million foreclosures would occur alone in 2007. Bernanke conceded that the rate of foreclosures caused by the nation’s sub prime crisis would worsen in 2008 and 2009 without citing any figures, but agreed the figure would go into the millions.
Bernanke made his comments in semi-annual testimony before a congressional committee, which is looking into ways to assist the nation’s lending economy to help resolve the sub prime crisis. The Chief Fed Chairman deplored “abusive lending practices and outright fraud” in the wake of near record foreclosures caused by the sub prime crisis.
The Housing Predictor forecast was based on an analysis of the nation’s largest metropolitan real estate markets conducted over a one month period by a team of researchers and journalists. Housing Predictor forecasts more than 250 local housing markets in all 50 U.S. states.
The web site is regularly consulted by many of the nation’s foremost Wall Street investment houses, mortgage and real estate companies, and consumers for its forecasts, which are updated regularly as local market conditions demand.Foreclosures are at near record levels in Michigan, Minnesota, Ohio and Colorado. Other states that are experiencing the highest number of foreclosures include California, Alabama, Indiana and Mississippi.
However, the fall out from the sub prime meltdown is not extending into all of the nation’s housing markets on a widespread scale. Foreclosures are occurring more commonly in lower middle class and poorer neighborhoods. Many housing markets, including vacation and second home markets and higher priced areas are immune from the fall out of foreclosures.
Eighteen states real estate markets are appreciating and an additional 10 states housing markets are showing signs of stabilizing. Many of the foreclosures are occurring as a result of increases in adjustable rate mortgages, and unethical lending practices on the part of some mortgage borrowers and lenders.
Mike Colpitts is the Editor of Housing Predictor. To read the entire foreclosure forecast, check local market forecasts and search real estate listings visit http://www.housingpredictor.com
Focus on the design psychology. And that’s the first rule!
Have you ever entered a house wherein you can’t fight the urge but love it? Have you ever been into a house where everything seems too inviting and that components completely complement each other? And lastly, have you ever been into a house that offer so much that you wish you own it?
Well if you already have then you might have encountered already a house that appeal to your psyche.
Design psychology is fastly becoming a demand in building houses. This is especially true with properties whose owners have already intended to sell after years of ownership. You may not know this but it is true that some houses were designed specifically to be inviting and homey to your mind.
Design psychology has the main concept of creating your house in such a way that it is more than ready for the market. It uses both interior and exterior design strategies that are innovative. Obviously, these techniques go beyond the normal paradigm of cleaning and painting. More often than not, houses that have used the principles of design psychology are bought in the market in no time. Thus, it decreases the house’s market time while increasing its market value. Sometimes the value goes beyond the initial expectation the seller has in mind.
Here are some of the tips in design psychology that you could use in preparing your house for the market.
Be keen with the color
Color, whether you like the idea or not, has effects on the eyes of various people. Each color could initiate various interests or disgust depending on the onlookers.
Take notice of it yourself- look around at your neighborhood and see what colors and how many colors homeowners usually use in the exterior of their properties. If you have noticed it, those using only two complementary colors are less likely to catch your attention. However, those houses that were painted with three shades and sometimes even four are more pleasing to the eyes especially if the use of this number of colors is excellent that they do not only compliment one another but also help increase the beauty of your house’s exterior.
If your main goal is to sell your house fast, you must have to focus on the critical points that would make people look at your house while contemplating how beautiful it is.
However, the color psychology doesn’t end in the exterior. While this is valuable enough, you must still give consideration in your exterior. It would be a great turn off if the inside of your home does not look as good as your exterior. See to it that both are equally commendable.
It is easier to experiment in exterior colors since they would not have to stand alone. The furniture and other accessories you would be leaving in the house for over-all enhancement could all help to increase the design psychology effect in your buyer’s eyes.
The common problem with people though is the fear of choosing and using colors in their house. And so most resort to either using white and other common shades. You must break the ground here.
Buyers would have to feel at ease with your house and should find value in buying it. And colors just do this thing very well.
Mario Churchill is a freelance author and has written over 200 articles on various subjects. For more information on selling houses fast checkout his home selling tips.
Best home loan mortgage rate refinance
Finding the Best Home Loan Mortgage Rate Refinance :
When shopping for the best home loan mortgage rate refinance program it is a good idea to call your current lender and see if they have any refinance programs available that may benefit you. Many large loan companies do not want to loose good paying customers and may offer to refinance your mortgage at no cost. If your current lender cannot help you get the best home loan mortgage rate refinance then you should talk to a few reputable mortgage brokers. Mortgage broker have access to wholesale rates and a wide variety of loan programs that often times benefits the consumer more then a bank or credit union. It is not uncommon for a good mortgage broker to beat a local banks mortgage mortgage rates by one quarter to one half percent or more.
Closing costs are also an important factor to consider when deciding on what company you will refinance your mortgage with. Getting the best home loan mortgage rate refinance will mean nothing if you are overcharged with excessive closing costs and fee’s. Keep in mind that the average closing costs for a mortgage that has no points or fees should not exceed $2000. Keep in mind that this does not include any prepaid interest or escrow amounts needed to close the loan, those prepaid items are costs are set by the lender and cannot be changed or altered by the mortgage broker. Your mortgage broker should provide you with a good faith estimate within 3 days of application. On this estimate will be a breakdown of fees and costs associated with your best home loan mortgage rate refinance. Look at the total of these fees and See if they are acceptable to you and if they are not call your mortgage broker and let them know. Mortgage brokers work off of commissions and they want to keep their customers happy in order to retain them. A good mortgage broker should adjust the fees to make you happy or offer a very good explanation as to why the fees are higher then average best home loan mortgage rate refinance.
Another way to ensure that you score the best rate is to obtain multiple offers before you settle on the right one. There are a large number of lenders to choose from, so you should obtain multiple offers and quotes for your refinance before you settle on one lender. Compare the fee structure, the loan amount and the rate, and then select the lender that seems to have your best interest in mind.
Go ahead and study how to find the best home loan mortgage refinance.
I am down in Clearwater Florida for the Memorial Day holiday and I can’t keep from noticing all of the properties that are for sale. Just on the street that my condo is located on, there are almost 30 single family houses or condos for sale. 30 properties for sale all on the same 1.8 mile long road. How do you make your property stand out in this market when you have competition coming at you from all sides? Be different. Don’t do the same old thing, or allow your listing agent to just stick a sign in the front yard and hope that a buyer picks your house over the 29 others.
