“News Flash, Fannie/Freddie Say Home Prices Moving up”

I’m not sure there is a Realtor in this country who hasn’t been saying the same thing for months. At the same time appraisals continue to be a problem. The AMC’s and their appraiser networks were certainly quick to downgrade values by saying that most markets have declining values, but how many are adjusting values upward because purchase prices are increasing and they are using old comps? The answer, very few if any.

Home values moving up, appraisals need to followIt is the same as the price of gas, it sure does move up in a hurry, but it sure doesn’t come down very quickly.

Let me know what you think…………….

Fannie/Freddie Transaction Show Rising Home Prices

By: Brian Collins

House prices rose nearly 1% in April after a 1.6% increase in March, according to a house price index based on Fannie Mae and Freddie Mac purchase mortgage transactions.

The HPI published by the Federal Housing Finance Agency has edged up three consecutive months, including 0.8% in April. The seasonally adjusted FHFA HPI is 3% higher than in April 2011.

The FHFA tracks house prices in nine regions. Over the previous 12 months, prices are down in only two regions, New England (2.6%) and the mid-Atlantic (0.9%).

Prices in the Western Mountain states are up 6.5% since April 2011. The Mountain states include Montana, Idaho, Wyoming, Nevada, Utah, Colorado Arizona and New Mexico.

image: renjith krishnan/freedigitalphotos.net

Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

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3 Comments on NEWS FLASH, FANNIE/FREDDIE SAY HOME PRICES MOVING UP

JUL
03
1,423,603 Points 41 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Great news for our economy. . specially in my area of service. 

We are having a great 2012 so far!
5:36am • #1
105,464 Points 8 Featured Posts Outside Blog

Joe: Low appraisals continue to be a problem here in Michigan, too, both for residential and commercial properties.  I'm all for preventing fraud, but I think there has to be a happy medium with regard to getting more realistic comps.  Thanks for sharing!
7:38am • #2
632,988 Points 3 Featured Posts Outside Blog Attended Rain Camp

Hello Joe,

So true, and perfect analogy with the gas pricing...appraisals are a problem, and will continue to be with no recourse in the system.
5:39pm • #3


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Joe Petrowsky

Manchester, CT

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Joe Petrowsky NMLS# 6869 - Right Trac Financial Group, Inc

Address: 110 Main St., Manchester, CT, 06042

Office Phone: (860) 647-7701 x 116

Cell Phone: (860) 836-9294

Email Me



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