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market conditions: Mortgage Rates Hit New Lows Again - 02/03/12 03:02 PM
Daily Real Estate News | Friday, February 03, 2012 <!-- /.section-date-author --> <!--<pre><?/*php print_r($node);*/?></pre>--> <!--paging_filter--> Mortgage rates once again inched lower this week, lowering the cost of borrowing and increasing housing affordability.
"Most mortgage rates eased to all-time record lows this week as fourth quarter growth in the economy fell short of market projections,” Frank Nothaft, Freddie Mac’s chief economist, said in a statement.
Here’s a closer look at rates for the week ending Feb. 2:
30-year fixed-rate mortgages: averaged a new record low of 3.87 percent, with an average 0.8 point, dropping from last week’s 3.98 percent average. A year … (1 comments)
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market conditions: 2011 Traverse City Real Estate Statistics - 01/24/12 02:47 PM
2011 Traverse City Real Estate Statistics Despite the gloom and doom we all hear daily from the news media Traverse City area real estate is moving in a positive direction. A year to year comparison from 2010 to 2011 shows that our local area ( mostly Grand Traverse, Leelanau, Benzie, Antrim, Kalkaska counties) is showing increases in average sales price with less inventory on the market than 1 year ago (2010 - 11,323 listings taken, 2011-9731 listings taken) and less listings expiring (2010- 44.72% all , 36.06% single family 2011 42.18% all, 34.23% single family), meaning a larger % of homes … (0 comments)
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market conditions: FSBOs Vanish, Sellers Turn to Real Estate Pros - 02/15/11 09:51 PM
For-sale-by-owners are rare nowadays. In fact, the number of FSBOs dropped to record lows over the past year. Unrepresented sellers make up just 11 percent of the market, down from 13 percent in 2009, according to the 2010 National Association of REALTORS® Profile of Home Buyers and Sellers.With today's more complex transactions--such as with short sales and foreclosures and frequent changes in mortgage lending--more sellers are finding comfort in the help of real estate professionals to guide them through the process.FSBOs once were lured to try to sell themselves because they thought they could save on commission fees, but now sellers … (3 comments)
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Jon Becker
Traverse City,
MI
More about me…
Century 21 Northland
Address: 241 E. State St., Traverse City, Mi, 49684
Office Phone: (231) 929-7900
Cell Phone: (231) 342-5401
Email Me
Keep yourself informed on Northern Michigan Real Estate information including listings for sale, price changes, listings sold, area community information, real estate related laws/ taxes as well as financing information and real estate buying & selling tips & information. For more complete information and to search ALL area listings, photos / slide shows & listing brochures please visit www.c21jb.com
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