RMLS recently reported sales results for October 2008. As you can see in the chart, housing inventory continues to build and we continue to slide further into a “buyers’ market.” At month’s end there were approximately 20,000 homes for sale, which equates to 13.5 months inventory at the October sales rate.

The two main agencies that purchase mortgage debt in America have the nicknames of Fannie Mae, and Freddie Mac.   These agencies purchase well over half of all mortgages made by banks coast to coast, and the guidelines they use drive the loan types, and pricing for residential mortgages.  One important restriction that these agencies place [...]

By now you have already received your property tax statement for 2008-2009.  If you think they are too high, you might be right!  You have until December 31st, 2008 to submit a petition to appeal your property taxes.  With many home prices fluctuating across the region, your home may have an inflated assessed value.  If [...]

This incredible contemporary style home is close-in and nearby many amenities, such as a park, shops, a library, freeways and public transportation. The location was even rated as “Very Walkable” by WalkScore.com! There is even an old fashion pharmacy in the area, complete with milkshakes, sodas, etc… and a newly renovated historic movie theatre all [...]

The mortgage market continues its Yo-Yo pattern and we saw a full .5% in rate come off the 30 year fixed mortgage this week.  Looks like we’re settling down at 6% after a week or two of rates closer to 6.625%.

I’m starting to notice that the normal market relationship between equities [...]