Wall Street Journal Market Watch Article

Here is an interesting article from the Wall Street Journal about interest rates today. The article states that even though interest rates are getting lower, it is becoming more and more difficult to obtain a home loan. This article was written by Amy Hoak and was published on September 14, 2008. Click here to read article.

“Mortgaged America” Article

This is an interesting article I found from the American History magazine October 2008 issue. It compares the condition of our country with its mortgages today compared to during the Great Depression. This article shows that homeowners faced with loss of their property today is 1.4% and states that this number “pales in comparison” to the 10% during the Depression. This article also explains that the other potential crisis is the amount of personal equity in homes and the fact that about half of homeowners in the U.S. owe more on their mortgages than their property is currently worth.

Who are Fannie Mae and Freddie Mac?

Here is an informative video recently put out by the California Association of Realtors explaining the importance of Fannie Mae and Freddie Mac and how the Government Sponsored Enterprises operate in the marketplace. The video features C.A.R.’s Executive Vice President Joel Singer.

What is Modular Housing all About?

Modular housing is one of the fastest growing sectors of the construction industry.  Wanting to avoid untimely weather delays, quality control problems and fluctuating and unpredictable material costs and skilled labor shortages, more and more home builders and developers are turning to factory built construction to get a head start on their competition.  On time and volume purchasing enables manufacturers to help provide consumers with amenity filled homes at a reduced cost and design flexibility provides a wide range of options from which to chose.  Find out more about modular housing by clicking here.

Time Article - Do Not Wait to Buy

“When will the market hit bottom?” “What if home values continue to drop further?” Many people are concerned that we have not yet seen the bottom of this housing market cycle. It’s possible that we have not, but it may end up being less expensive if people purchase property now rather than trying to time the market and wait for the day it hits bottom. 

This is a great article from Time Magazine about why now is a great time to buy. It explains how even if home values drop another 10% in the next 12 months but rates go up 1/2% the consumer would still end up paying the same monthly mortgage. With the combined elements of low interest rates, low home prices and lots of inventory to choose from, this may be one of the best markets to buy in that we will see for quite awhile!

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