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DAILY NEWS AND ADVICE FROM REALITY TIMES 05/02/2008

A combination of fear and greed are what will move the housing market forward. Sounds ugly, but it's true. The financial press has done such an excellent job of scaring the wits out of homebuyers, it will take the bargains of a century to get them to buy homes again. FULL STORY->

New Jersey Estates/
Weichert Realtors

Paul S & Pat C

May 2008

LINKING THE LATEST TECHNOLOGY
TO OLD FASHIONED SERVICE

Daily News And Advice
Updated 01:00 AM CDT Today

Today's Feature Stories

Investor Report: Miami-Dade County

It's no secret that Miami-Dade has the country's most crushing glut of unsold, unoccupied condo projects, with 25,000 sitting for sale -- a five year supply at current purchase rates -- plus another 19,000 units at some stage of approval or construction. FULL STORY->

Hot Market: Foreclosure Markets Turning Red Hot

In less than eight months, the absorption rate of Prince William County has dropped from a 14-month supply to a 5-month supply -- in essence, it has become a market in equilibrium -- neither a buyers nor sellers market. FULL STORY->

Realty Viewpoint: Loans Bottleneck Housing

Regional Report: West

By now we're all used to the steady onslaught of bad news about the U.S. real estate market, but Forbes.com changed the tone a bit recently when they released their list of the 5 Best Cities for Home Sellers. FULL STORY->

Mortgage Rates Little Changed as Risk of Inflation Continues to Cause Concern.

Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 6.06 percent with an average 0.5 point for the week ending May 1, 2008, up from last week when it averaged 6.03 percent. Last year at this time, the 30-year FRM averaged 6.16 percent. FULL STORY->

Don't Let Heating And Air Conditioning Problems Cool Your Next Purchase!

Just as when you buy a car, you ought to look under the hood, so too, should you look beyond the pretty kitchen and living room décor, says Ken Justo owner of ASI Heating & Air Conditioning. FULL STORY->

Headlines

Real Estate Outlook: Could Resales Be Up?
If you only focused on the big headlines in the past week, you probably noticed that home resales were down by two percent nationwide during March. That didn't sound good -- certainly not for the start of the spring selling season. FULL STORY->

Market Conditions: Virginia
Market expert Laura Sampson says that for the eastern shore of Virginia last month, prices of already listed properties came down even more, as they did in the rest of the nation. FULL STORY->

Interest Rate Update
Today's Interest Rates from Realty Times are based on a 30 year amortization rate, with good credit and no origination fees. Mortgage bonds have been on a rally as of late, driving interest rates lower. FULL STORY->

Realty Viewpoint: Economy, Housing Staying Alive
The latest report on the state of the economy was better than expected. The first quarter grew by an anemic 0.6 percent. That's both good and bad news for housing. FULL STORY->

Regional Report: South
The latest report from the National Association of Realtors shows that in the South, existing-home sales fell 3.5 percent to an annual rate of 1.92 million in March and are 20.0 percent below March 2007. FULL STORY->

Have a Few Home Staging Tips?
tba FULL STORY->

Court Looks Askance at Builder's Mandatory Arbitration Clause
The recent California case of Baker v. Osborne Development (Fourth Appellate District Court of Appeal) makes it clear that alternative dispute resolution agreements between buyers and builders must themselves conform to certain ground rules. FULL STORY->

Moving Hard-to-Sell Homes with Staging
Staging can be just the trick to selling your home. Columnist Ralph Roberts gives some tips. FULL STORY->

Foreclosure Prevention's Lesser Knowns
Just as borrowers used "loan layering" to combine mortgages and seal high-cost home deals, homeowners facing foreclosure have foreclosure prevention layers from which to choose. FULL STORY->

The Liquidity Opportunity Is Here
Lenders are getting billions of dollars in new capital, so how come there's less mortgage money available? Columnist Peter G. Miller looks at the post-meltdown marketplace. FULL STORY->

New Homes: Top 10 Energy-Efficient Remodeling Projects for 2008

Mortgage Moment: Subdividing Property

Market Conditions: Portland, Oregon

Having Two Owner-Occupied Mortgages

Success On Purpose

Ask the HOA Expert

Open House Rules

Mortgage Fraud Now An Organized Crime Staple

Condo Trends: The Good, The Bad, The Ugly of Condo Fees

Market Conditions: Surfside, Florida

A Neighbors Downspout is Flooding Yard

Realty Viewpoint: Research Study Of Online Competitors Still Relevant

Real Estate Marketing Strategies - Getting Your Clients to Buy Now!

Spring Cleaning For Your Business: Start Cutting Your Clutter Today

Land Values are Jumping on Canadian Farms

Washington Report: Fannie and Freddie Under Fire From Groups

Wild, Wild West: San Jose, CA No. 1 Market For Sellers

Realty Viewpoint: Realtor.com Offers Freshest Catch Of Listings

Regional Report: Midwest

Market Conditions: North Georgia Mountains

Real Estate Outlook: A Looming Recession?

CURRENT
MORTGAGE RATES

Interest Rate Watch
30 yr fixed: 6.06%
15 yr fixed: 5.59%
1 yr adj: 5.29%
(U.S. Daily Averages)

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Paul S & Pat C ,
Luxury Custom New &
Pre-Owned Homes
E-mail: njestates@earthlink.net
Web: http://www.newjerseyestates.net/
908-561-5492 (Paul S) 908-310-1358 (Cell)
908-561-6499 (Pat C) 908-578-0890 (Cell)

Weichert Realtors
New Jersey Estates
908-561-5400
55 Stirling Road, Watchung, N.J. 07069

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Posted by Patricia Cornish NJ, New Homes, Pre Owned Homes on 05/02/2008 10:44 AM

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