You ready to hear some good news?  It’s about time.  This title caught my attention:

Housing Crisis to End in 2012 as Banks Loosen Credit Standards

 

 

Here are a few statements from this article:

 

Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit.

 

The analytics firm notes the average credit score required to attain a mortgage loan is 700. While this is higher than scores required prior to the crisis, it is constant with requirements one year ago.

Additionally, a Fed Senior Loan Officer Survey found credit requirements in the fourth quarter were consistent with the past three quarters.

 

However, other market indicators point not just to a stabilization of mortgage lending standards, but also a loosening of credit availability.

Banks are now lending amounts up to 3.5 times borrower earnings. This is up from a low during the crisis of 3.2 times borrower earnings.

Banks are also loosening loan-to-value ratios (LTV), which Capital Economics denotes “the clearest sign yet of an improvement in mortgage credit conditions.”

In contrast to a low of 74 percent reached in mid-2010, banks are now lending at 82 percent LTV.

 

 

We’re not out of the woods and yet from what I’ve seen around the country with other realtors’ posts and market reports in ActiveRain, the face of the economy seems to be changing in incremental steps this year. It has a totally different feeling than last year at this time. I wrote about this earlier this year, it is a shining stone of hope, one to hold in your hand for good luck. (This doesn't mean you have to kiss the Blarney Stone, either!)

 

 

For a look at what fun you can have at Fishhawk Lake, click on the link below! 

 

http://www.youtube.com/watch?v=-N20w1bP2UA&feature=youtube_gdata

 Fishhawk Lake canoe trip-Gayle Rich-Boxman 2012 copyrighted All Rights Reserved

Gayle Rich-Boxman
Broker,Vernonia Realty
Specializing in Fishhawk Lake Recreation Club
"Your Gateway to the Lake!"
Direct: (503)755-2905
My website: http://www.lakehomesatfishhawk.com/
My blog: http://fishhawklakerealtor.wordpress.com/

 

 

 

10 Comments on Fishhawk Lake Real Estate-You ready to hear some good news?

MAR
01
2012
199,548 Points 5 Featured Posts Outside Blog Called Shot Master

It will be interesting Gayle to see what really happens in our neck of the woods. Especially later on in the article it talks about buyers struggling in having high enough credit scores to qualify.  They also said that these small gains would not be enough to raise home prices. I always think these articles are pretty ambiguous as to what is really happening as they are having to take such a broad view of the country. Good information in general though.  I know here in Wilsonville there are few homes for sale that are $350 and below and they do not stay on the market long if they are in good shape. I only hope because lack of homes for sale it does not falsely raise prices, but keeps a balance. It is always a mystery to me.
8:57am • #1
465,278 Points 9 Featured Posts Called Shot Master

Gayle-We all need to hear good news when it comes to the housing market and the economy in general. Very well written my friend.
9:51am • #2
360,245 Points 42 Featured Posts Outside Blog Called Shot Master

Mary~Love your new photo--you look absolutely gorgeous. Thanks for looking at the article, and I agree, it's a "wide swath" as far as some of the generalities. good to know about the success in Wilsonville, as $350K sounds on the higher end.

Sharon~Who doesn't like to hear good news, right?  That's why they do those "feel good" stories at the end of newscasts now. (People get tired of the negative).
10:02am • #3
472,816 Points 35 Featured Posts Outside Blog Called Shot Master

One of our favorite neighbors just popped in to say goodbye. A wonderful couple who are short selling their home because of a job transfer ( I'm not handling it...long story and it's okay. In fact, good. ). At any rate, I was feeling blue to lose these folks and I'm so glad I popped in to read your post. You "always" lighten my moods. You're a gift. xxxooo
10:05am • #4
438,013 Points 79 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

"WHEW" now wouldn't that be great! Positive news is what's needed on this homefront!

FEATURED

DIARY OF A REALTOR!!!
10:18am • #5
1,329,955 Points 189 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Gayle I sense more buyers out there but would not venture a crystal ball that we are out of the woods yet. Entirely still too many people out of work and we have a Presidential election to get through. I say bouncing on the bottom for awhile. Just not sure how long...
12:02pm • #6
981,924 Points 114 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

And not to be the bearer of bad news . . . but the shadow inventory continues to haunt the market.  This is great news for buyers, as REO's will compete and drive down home values.  Bad news for sellers.  But if the banks do lighten up on the lending, hopefully we can clear up the market in . . . 2-3 years.  Hopefully back to normalcy and stability. 
12:30pm • #7
MAY
09
2012
Outside Blog

Gayle,

 That is some good news and it's nice to hear some positive news every once in a while.
2:22pm • #8
MAY
31
592,437 Points 17 Featured Posts Outside Blog Called Shot Master

Hi Gayle,

 This is very good news but unfortunately our area in San Bernardino County has a lot of areas that have  been hit hard but we are getting the short sales through for now. I think within 1-2 years, we might be doing fantastic.

Love the stone photo.
1:20pm • #9
JUL
16
389,479 Points Outside Blog

Same as usual: Over react and then start loosening up and then they will go too far again.
11:33am • #10


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