Well...it's not getting any better and most of us knew that would happen. Destin Florida Condominium Short Sales are continuing to grow by leaps and bounds! The residential market in Destin isn't getting much better either! The information below continues to reinforce what we have known and hat we know will just continue over and over again! Take time now to learn more about short sales and foreclosures online at InvestSmarter.com where we walk you through the steps. Still not clear or want to know more, email us and we will set up a direct call with you to discuss the best way based on your current situation to make the most of this market.
Daily Real Estate News September 22, 2008Delinquencies, Foreclosures Hit New Heights At the end of August, some 6.6 percent of all mortgages were at least 30 days past due, up from 5.8 percent at the end of June and 4.51 percent a year earlier.That's according to an analysis prepared for The Wall Street Journal by Applied Analytics, a unit of Lender Processing Services Inc.The largest percentage-point increase came on subprime loans, where the delinquency rate jumped more than 2.2 percentage points from June and July levels to 24.48 percent in August.But other types of loans deteriorated rapidly, too. Delinquencies on option adjustable-rate mortgages, which let borrowers make minimum payments that may not even cover the interest due, jumped 1.17 percentage points, to 14.38 percent in August. Delinquencies on Alt-A mortgages, a category between prime and subprime, also rose 1.17 percentage points, to 10.73 percent.Doug Duncan, chief economist for Fannie Mae, said that as credit worries worsened, banks tightened their standards, making it tougher for borrowers with adjustable-rate mortgages to refinance and for homeowners in financial distress to sell their homes, which is causing some of them to fall behind. Job losses also are taking a toll on borrowers, said Thomas Lawler, an independent housing economist. Previously, he said, housing troubles were largely independent of the overall economy.Source: The Wall Street Journal, Ruth Simon (09/20/2008)
For properties for sale in the Destin Florida Condominium Market please visit us online and let us help you find the perfect fit for your needs.
Wednesday, September 24, 2008
Thursday, August 21, 2008
Fewer and Fewer People are Requesting Loans
One of the first down turns in a market is the number of mortgage applications! But of course with things getting tighter the rental market is looking better and better. Here is an interesting article on lending for more information on Real Estate in Destin Florida Please click here
Mortgage Applications Hit Six-Year Low
Mortgage applications declined last week to the lowest level in more than six years, according to the Mortgage Bankers Association.The application index fell to 419.3 during the week ended Aug. 15, a 1.5 percent decline from 425.9 the previous week on an adjusted basis. Application volume was down 61 percent from its 2008 peak in February.On an unadjusted basis, the index decreased 2.6 percent compared with the previous week and was down 34.2 percent compared with the same week a year ago.The purchase index decreased only 0.4 percent from the previous week, but the refinance index was down 3.7 percent, even though mortgage rates declined.30-year fixed-rate mortgages decreased to 6.47 percent from 6.57 percent;15-year fixed-rate mortgages decreased to 5.99 percent from 6.17 percent1-year ARMs decreased to 7.07 percent from 7.15 percent.Source: The Associated Press and Mortgage Bankers Association (08/20/2008)
Destin Florida Condominiums continue to be one of the hottest Investment pieces of property you can buy and in today's market it's even better with more availability and so many short sales to choose from. Look online today to find out more!
www.RandBCoastalRealEstate.com
Mortgage Applications Hit Six-Year Low
Mortgage applications declined last week to the lowest level in more than six years, according to the Mortgage Bankers Association.The application index fell to 419.3 during the week ended Aug. 15, a 1.5 percent decline from 425.9 the previous week on an adjusted basis. Application volume was down 61 percent from its 2008 peak in February.On an unadjusted basis, the index decreased 2.6 percent compared with the previous week and was down 34.2 percent compared with the same week a year ago.The purchase index decreased only 0.4 percent from the previous week, but the refinance index was down 3.7 percent, even though mortgage rates declined.30-year fixed-rate mortgages decreased to 6.47 percent from 6.57 percent;15-year fixed-rate mortgages decreased to 5.99 percent from 6.17 percent1-year ARMs decreased to 7.07 percent from 7.15 percent.Source: The Associated Press and Mortgage Bankers Association (08/20/2008)
Destin Florida Condominiums continue to be one of the hottest Investment pieces of property you can buy and in today's market it's even better with more availability and so many short sales to choose from. Look online today to find out more!
www.RandBCoastalRealEstate.com
Thursday, July 10, 2008
Foreclosures: The New Hot Button...But Make Sure you know the Facts!
Everyone is talking about the wonders of the foreclosure market, but just like any other real estate deal, make sure you know what you are buying. Do your research. There are a few great points below. These "deals" aren't always that much of a savings and banks are being more and more cautious of how they handle these transactions. The Destin Florida Real Estate and Destin Florida Condominium market has a few options and we have discussed some basic strategies for buying and selling foreclosed properties online at www.InvestSmarter.com. Take some time to look through our sites and look at the article below to ensure you are on top of the hottest and smartest trends!
Tips for Buying Foreclosures
Buyers seeking a deal on a foreclosed property need to keep some basics in mind because the transaction isn’t simple and the competition may be still, says Pat Lashinsky, CEO of ZipRealty, which has more than 2,200 associates in 19 states."When you find a good deal, there are five or six or seven offers, and you're up against professional investors," Lashinsky says.Here are some other things buyers should consider:
These homes aren’t giveaways.
Typically, they are priced 10 to 15 percent below non-bank-owned properties.
Banks have their own selling strategies.
Skilled at analyzing prices and market conditions, they'll often lower the price incrementally if a home hasn't sold after a month.
Bidding Wars are Possible.
When the price is attractive, expect plenty of competitive offers.
Factor in fix-up money. Many of these properties are in bad shape.
Get pre-qualified. Banks won’t deal with prospective buyers who aren't.
Consider borrowing from the bank that owns the property. If the bank can hold the mortgage, it will sometimes agree to a lower price.
Source: San Francisco Chronicle, Carolyn Said (07/09/2008)
For more information on the Destin Florida Condominium market play online and let us know what your thoughts are. More and more people are searching out property online. Stay on top of current trends in the Foreclosure and Short Sale markets today!
Tips for Buying Foreclosures
Buyers seeking a deal on a foreclosed property need to keep some basics in mind because the transaction isn’t simple and the competition may be still, says Pat Lashinsky, CEO of ZipRealty, which has more than 2,200 associates in 19 states."When you find a good deal, there are five or six or seven offers, and you're up against professional investors," Lashinsky says.Here are some other things buyers should consider:
These homes aren’t giveaways.
Typically, they are priced 10 to 15 percent below non-bank-owned properties.
Banks have their own selling strategies.
Skilled at analyzing prices and market conditions, they'll often lower the price incrementally if a home hasn't sold after a month.
Bidding Wars are Possible.
When the price is attractive, expect plenty of competitive offers.
Factor in fix-up money. Many of these properties are in bad shape.
Get pre-qualified. Banks won’t deal with prospective buyers who aren't.
Consider borrowing from the bank that owns the property. If the bank can hold the mortgage, it will sometimes agree to a lower price.
Source: San Francisco Chronicle, Carolyn Said (07/09/2008)
For more information on the Destin Florida Condominium market play online and let us know what your thoughts are. More and more people are searching out property online. Stay on top of current trends in the Foreclosure and Short Sale markets today!
Thursday, July 3, 2008
What happens to the Government Budget with Falling Prices?
This is an interesting thought....what does happen when values come down across the board? Taxes also go down......oh wait a minute...what about those budgets that were based on the "increased property taxes?" Ouch....see what the following effect has put on 10 state in the US. It's not just the consumer....now how is this amount going to be made up? Interesting thoughts and for more information on subjects like these visit www.InvestSmarter.com to find more information about smart investing whether in your real estate or personal financing!
City Budgets Pinched From Falling Values With home prices falling and foreclosures on the rise, municipal budgets are starting to feel the pinch.At least 29 states and the District of Columbia have reported budget shortfalls totaling $48 billion as they finalize 2009 fiscal budgets, according to the Center on Budget & Policy Priorities.Many states are freezing new hires, borrowing for necessary expenditures, and dipping into "rainy day" funds to fill budget gaps and avoid tax increases. But by 2010, officials are expected to face even tougher dilemmas.States With Biggest Tax Revenue ShortfallsThe following 10 states are feeling the worst affects of the problem, according to data from The Nelson A. Rockefeller Institute of Government. (The states are listed below, along with their annual tax revenue change for the January-March period in 2008 to the same period a year earlier.)
Arizona: -13.6 percent
Florida: -10.3%
Rhode Island: -6.2%
Nevada: -4.9%
Georgia: -3.8%
New Jersey: -0.3%
California: 0.1%
Washington: 0.2%
Delaware: 0.3%
Tennessee: 0.6%Source: Business Week, Prashant Gopal (06/30/08)
So we shall see what happens, and on top of that the property taxes that are behind and not being paid and won't be paid until the house sells! For more information on what is available in the Destin Florida Condominium market search online today at www.Destin-Florida-Condominiums.info for more availalble properties in the Destin Florida area and stay tuned for more wonderful informaiton from InvestSmarter!
City Budgets Pinched From Falling Values With home prices falling and foreclosures on the rise, municipal budgets are starting to feel the pinch.At least 29 states and the District of Columbia have reported budget shortfalls totaling $48 billion as they finalize 2009 fiscal budgets, according to the Center on Budget & Policy Priorities.Many states are freezing new hires, borrowing for necessary expenditures, and dipping into "rainy day" funds to fill budget gaps and avoid tax increases. But by 2010, officials are expected to face even tougher dilemmas.States With Biggest Tax Revenue ShortfallsThe following 10 states are feeling the worst affects of the problem, according to data from The Nelson A. Rockefeller Institute of Government. (The states are listed below, along with their annual tax revenue change for the January-March period in 2008 to the same period a year earlier.)
Arizona: -13.6 percent
Florida: -10.3%
Rhode Island: -6.2%
Nevada: -4.9%
Georgia: -3.8%
New Jersey: -0.3%
California: 0.1%
Washington: 0.2%
Delaware: 0.3%
Tennessee: 0.6%Source: Business Week, Prashant Gopal (06/30/08)
So we shall see what happens, and on top of that the property taxes that are behind and not being paid and won't be paid until the house sells! For more information on what is available in the Destin Florida Condominium market search online today at www.Destin-Florida-Condominiums.info for more availalble properties in the Destin Florida area and stay tuned for more wonderful informaiton from InvestSmarter!
Sunday, May 11, 2008
Mortgage Rates are Down Again...Making this wonderful market a little bit more in reach
So rates are coming down in small increments. That makes it an even better time to look to invest in the Destin Florida Condominium market. Destin has always been one of those towns that was just enough of a sleeper to allow values to stay high with prices staying low. Now of course the high times didn't miss Destin Florida and the condominiums saw their fair shake also...but in today's market these prices are back down to a very affordable price. The article below puts a little more insight into the current trends of rates and allows us to have a little more security when Investing in Destin Florida whether it be the condominium market or the residential home market. More information on Destin Florida can also be found at www.InvestSmarter.com where we are looking out for the best Destin Florida Real Estate for your needs.
30-Year Mortgages Edge Down Slightly: Freddie Mac Chief Economist Frank Nothaft says the housing slump, along with rising mortgage delinquencies and foreclosures, has taken a toll on homeownership rates and prevented significant movement in mortgage rates during the week ended May 8. The 30-year fixed rate slipped to 6.05 percent from 6.06 percent a week ago, while the 15-year fixed rate bumped up to 5.60 percent from 5.59 percent. Over the same period, the five-year adjustable mortgage rate fell to 5.67 percent from 5.73 percent; and the one-year ARM held steady at 5.29 percent. Nothaft cites a report from the U.S. Census Bureau that indicates a decline in the national homeownership rate to 67.8 percent in the 2008 first quarter from 69 percent in the 2006 third quarter.
Source: Northwest Indiana Times (05/09/08), Martin Crutsinger
For the availabilty of property in the Destin Florida Real Estate market please visit
www.RandBCoastalRealEstate.com
or
www.Destin-Florida-Condominiums.com
30-Year Mortgages Edge Down Slightly: Freddie Mac Chief Economist Frank Nothaft says the housing slump, along with rising mortgage delinquencies and foreclosures, has taken a toll on homeownership rates and prevented significant movement in mortgage rates during the week ended May 8. The 30-year fixed rate slipped to 6.05 percent from 6.06 percent a week ago, while the 15-year fixed rate bumped up to 5.60 percent from 5.59 percent. Over the same period, the five-year adjustable mortgage rate fell to 5.67 percent from 5.73 percent; and the one-year ARM held steady at 5.29 percent. Nothaft cites a report from the U.S. Census Bureau that indicates a decline in the national homeownership rate to 67.8 percent in the 2008 first quarter from 69 percent in the 2006 third quarter.
Source: Northwest Indiana Times (05/09/08), Martin Crutsinger
For the availabilty of property in the Destin Florida Real Estate market please visit
www.RandBCoastalRealEstate.com
or
www.Destin-Florida-Condominiums.com
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