folsom el dorado hills market update: Market Update - April 2009 - Folsom & El Dorado Hills
- 04/19/09 02:01 PM
Latest News and Topics of Interest: The biggest news to develop in March was the long awaited arrival of lower interest rates. For months I have referenced rumors and mortgage insider speculation regarding falling mortgage rates, and in March it finally came true. March began with average 30 yr. fixed mortgage rates in the Western U.S. at 5.06% and by month's end they had dropped to 4.71% (both with about 1 point). Since the keys to the housing recovery are low interest rates, fewer foreclosures and lower unemployment rates, and the last two are difficult to control, you can expect government … (0 comments)
folsom el dorado hills market update: Market Update - March 2009 - Folsom & El Dorado Hills
- 04/19/09 01:57 PM
Latest News and Topics of Interest: The Treasury Department unveiled the "Making Home Affordable" program aimed at assisting existing home owners with refinancing or modifying their existing mortgages. For details, visit http://www.FinancialStability.Gov/MakingHomeAffordable/ or give me call and I will explain the program as I understand it. ---- One of the keys to housing recovery is the supply / demand balance. Sacramento County and El Dorado Hills inventory levels closed another month at their lowest levels in more than a year, while Folsom rose about 10%. ---- Interest rates rose a little bit with the avg. cost of a 30 yr. fixed … (0 comments)
folsom el dorado hills market update: Market Update - Feb. 2009 - Folsom & El Dorado Hills
- 04/19/09 01:50 PM
Latest News and Topics of Interest: If you are a first-time home buyer, Obama signed his stimulus package today, providing you with an additional $8,000 tax credit. Inventories have reached their lowest levels in the past year at both the county and city levels. Interest rates rose a little bit with the avg. cost of a 30 yr. fixed mortgage in the Western U.S. rising from 5.01% on 1/1/08 to 5.03% on 1/29/09. Hopes are that Federal Reserve actions will bring rates back down. On the Horizon: Treasury Secretary Geitner and President Obama are expected to provide further details on the … (0 comments)
folsom el dorado hills market update: Market Update - January 2009 - Folsom & El Dorado Hills
- 01/12/09 09:27 AM
Latest News and Topics of Interest: The rapid decline in long-term interest rates continued in December. Due to continuing actions by the Federal Reserve board, according to FreddieMac.com, the average cost of a 30 yr. fixed mortgage in the Western U.S. has dropped from 6.47% on 11/1/08 to 5.60% on 12/1/08 to 5.01% on 1/1/09. "Word on the street" is still suggesting 30 yr. mortgages at 4.50%, or less, soon. On the horizon: Expect Obama's stimulus package to include a provision, empowering bankruptcy judges with the ability to alter home loans in an effort to prevent foreclosures. The purpose of this … (0 comments)
folsom el dorado hills market update: Market Update - December 2008 - Folsom & El Dorado Hills
- 01/12/09 09:24 AM
National & Regional Snap-shot: A slew of new government programs were enacted in November in an ongoing effort to "right the ship." It appears that the focus is now shifting from stabilizing the banking sector to addressing the issue that brought our economy to a halt in the first place: The housing crisis. On November 1, 2008, the average cost of a 30 yr. fixed mortgage in the Western U.S. was 6.47%*. As of December 1, 2008, that rate has dropped to 5.60%*, almost a full 1% reduction. Mortgage insiders are speculating that the Federal Reserve will reduce rates another 1/2 … (0 comments)
folsom el dorado hills market update: Market Update - November, 2008 - Folsom & El Dorado Hills
- 11/12/08 03:57 PM
National & Regional Snap-shot: The election has come and gone and the national focus has returned to the economy, the credit crisis and the slumping housing market. The roller coaster ride continued with 30yr fixed mortgage rates rising from 6.07%* at the beginning of October to 6.47%* at month's end. No sooner than Paulson and Bernanke talked voters and Congress into the "mortgage bailout," it evolved (was switched) to a different plan of injecting money directly into banks and other financial institutions as opposed to buying mortgages through reverse auctions. Officially, $125 billion was given to the nations 9 largest banks … (0 comments)
folsom el dorado hills market update: Market Update - October, 2008 - Folsom & El Dorado Hills
- 10/12/08 03:56 AM
National & Regional Snap-shot: The presidential election and Hurricane Ike became after thoughts in September as the credit crisis on Wall Street spread to Main Street. The hope for an election year rally in the stock market has been put on hold, as the Federal Reserve and Treasury Department have scrambled to utilize every tool in their arsenal (including getting congress to authorize a $700 Billion bailout) to calm the markets and keep the American economy flowing. From a regional standpoint last month, 1934 homes sold in Sacramento County, 1354 were bank owned (70%), 200 were short sales (10%) and … (0 comments)
folsom el dorado hills market update: Market Update - September, 2008 - Folsom & El Dorado Hills
- 09/05/08 08:40 AM
Regional Snap-shot: The National Association of realtors, reported the Sacramento-Roseville region was #1 in the country with a 36% year-over-year decline in the median home price, falling in July 2008 to $214,900. 70% of the home sales in the county in July were bank owned homes. NAR Statistics are slow to come out and are a month behind. Folsom: Through July, the average sales price for the year in Folsom had been $438k with 25% of the sales being bank repo's. It came as no surprise that as the percentage of bank owned sales dropped to 14% in August, Folsom … (0 comments)
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Aaron Cullen
Folsom, El Dorado Hills & Sacramento Real Estate &
Latest News and Topics of Interest: The biggest news to develop in March was the long awaited arrival of lower interest rates. For months I have referenced rumors and mortgage insider speculation regarding falling mortgage rates, and in March it finally came true. March began with average 30 yr. fixed mortgage rates in the Western U.S. at 5.06% and by month's end they had dropped to 4.71% (both with about 1 point). Since the keys to the housing recovery are low interest rates, fewer foreclosures and lower unemployment rates, and the last two are difficult to control, you can expect government … (0 comments)
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