real estate: February 22, 2008
- 02/22/08 09:04 AM
Interest Rates rose to 6.0% for a 30 year fixed on February 22, 2008. Lenders have not been willing to lower rates right now, but we did hear today that one major lender is going to be concentrating efforts on purchases rather that re-fis. That is very good news. Current listing inventory - 210 active listings in Owatonna as of today. Showings have begun to pick up again and we are hoping for a good turnout at Open Houses tomorrow. The number of pending listings remained rose slightly this week to 26 houses. Again this is a good sign as … (3 comments)
real estate: Truly Blessed! A Time of Reflection.
- 02/20/08 09:48 AM
I was sitting at my desk this morning working on the computer when one of my partners (Todd) arrived at the office. Now mind you that my partners are Susan (my wife) and Todd (our son-in-law). Todd had in tow his son (our grandson) Thomas (almost 7) who had just been diagnosed with strep throat at the doctors office and couldn't go back to school or to day care. Thomas walked into our office, dropped his coat on Susan's desk, kicked off his boots next to my desk and crawled up on my lap. He proceeded to sit there while I … (10 comments)
real estate: February 18, 2008
- 02/18/08 09:49 AM
Interest Rates rose to 5.875% for a 30 year fixed on February 18, 2008. Mortgage rates have been somewhat strange over the last 20 days. They are up a bit right now. Current listing inventory - 212 active listings in Owatonna as of today. We have seen quite a few showings through the month of January but showings have tepered off the last week. Right now buyers seem to be confused about interest rates and are just sitting back waiting for rates to come down and stabilize a bit. The FED has dropped the wholesale rate several times, however many lenders … (0 comments)
real estate: February 11, 2008
- 02/11/08 05:08 AM
Interest Rates fell to 5.5% for a 30 year fixed on February 11, 2008. Mortgage rates have been somewhat strage over the last 14 days or so the took a big drop on the 22nd of January for about 3-4 hours and then bounced back up again. The continue to move around between 5.375% & 5.625% every couple of days. Current listing inventory - 207 active listings in Owatonna as of today. As we speculated last week many of the expired listings came back on the market and brought the count back up. We are continuing to see strong market activity … (0 comments)
real estate: February 4, 2008
- 02/04/08 09:09 AM
Interest Rates rose to 5.5% for a 30 year fixed on February 4, 2008. The Fed dropped interest rates .5% at a meeting last week. This has not actually resulted in mortgage rates falling yet but it has sparked a tremenous amount of consumer interest. Current listing inventory - 195 active listings in Owatonna as of today, that is the lowest the count has been since January of 2007. However it is primarily due to a large number of listings expiring last week (many of them ours)and they will be coming back on the market. The number of pending listings remained … (0 comments)
real estate: January 28, 2008
- 02/04/08 08:53 AM
Interest Rates rose to 5.5% for a 30 year fixed on January 28, 2007. Rates had a roller coaster ride last week, one lender told us that rates changed 4 times in one day last week. The Fed dropped interest rates .75% at an emergency meeting last week. This has actually resulted in mortgage rates creeping up a bit. It is going to take us a few more days to learn all of the capabilities of the new MLS system and to provide you with the most comprehensive data available. Current listing inventory - 212 active listings in Owatonna as of … (0 comments)
real estate: January 15, 2008
- 02/04/08 08:39 AM
Interest Rates have fallen to 5.25% for a 30 year fixed and 4.75% for a 15 year fixed on January 15, 2007. Rates haven't been this low since around 2003. Buyers if you have been fence sitting waiting for the market & interest rates to bottom out, it sure seems like we are just about there. There is a nice selection of homes, prices are reasonable and interest rates are incredibly low. All in all, a great time to purchase a home. Current listing inventory - 212 active listings in Owatonna as of today, that number has remained stable for several weeks … (0 comments)
real estate: A Look at the Real Estate Market in Minnesota
- 02/04/08 08:37 AM
Not optimism, not pessimism, but REALISM…. January, 2008 By Glenn S. Dorfman, Minnesota Association of REALTORS® There is good news for homebuyers and sellers and it is not b.s.: Not optimism, not pessimism, but REALISM (facts seasoned with a heavy dose of common sense ---realistic thinking). Salespeople, business people, politicians do not create trust by “blowing smoke,” in the form of uniformed, self-benefiting opinions at the public. The public wants and deserves the most accurate assessment of current economic and housing market conditions as possible coated with a heavy dose of common sense. To suggest, that this housing economy is terrific … (0 comments)
real estate: January 9, 2008
- 02/04/08 08:33 AM
Interest Rates have fallen to 5.375% on January 8, 2007. This is more of a reduction than we expected. It seems like rates may drop just a bit more, but all of the lenders we've spoken with aren't sure how much and for how long rates will stay down. Current listing inventory - 208 active listings in Owatonna as of today, that number has remained stable for several weeks now. Average days on the market has remained steady at 176 days. The number of pending listings climbed slightly to 19 houses. It is good to see this number begin to rebound slightly. … (0 comments)
Interest Rates rose to 6.0% for a 30 year fixed on February 22, 2008. Lenders have not been willing to lower rates right now, but we did hear today that one major lender is going to be concentrating efforts on purchases rather that re-fis. That is very good news. ;)
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