Wednesday, September 19, 2007

Interest Rate Update

September 20, 2007. Tampa, Fl.
The Federal Reserve Board’s half-point cut in a key interest rate yesterday surprised most analysts who expected a more modest quarter-point cut. The move should help homeowners with ARMs and perhaps homebuyers considering an ARM.

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New Home Sales Report

September 19, 2007. Tampa, Fl.
The U.S. Commerce Department reported Wednesday that construction of new homes fell by 2.6 percent in August to a seasonally adjusted annual rate of 1.331 million units – its slowest level in 12 years.

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Tuesday, September 11, 2007

Real Estate Report and Update

Tampa, Fl 9/11/2007
Tighter credit for home mortgages will measurably dampen home sales in the short term and postpone an expected recovery for existing-home sales until 2008, according to NAR’s latest forecast. Still, “The volume of existing-home sales this year will be better than 2002, which was the second year of the housing boom,” says NAR Senior Economist Lawrence Yun.

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Monday, September 10, 2007

Florida Foreclosure Update

Tampa, Fl 9/10/2007.
The number of homeowners receiving foreclosure notices hit a record high in the second quarter, driven up by problems with subprime mortgages. The delinquency rate, which tracks the number of homeowners with late mortgage payments, was also up sharply.

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Friday, September 7, 2007

9/07/2007 Tampa, Fl .
Looking for a ray of sunshine in today’s overcast housing market? Here’s one: foreign buyers. The rise of the euro, combined with the decline in U.S. home prices, allows Europeans to buy a U.S. home at the equivalent of 2002 prices.

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