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Mortgage brokers, real estate agents say interest rate drop is spurring activity

Published by jonathanfleming September 13th, 2008 in Housing Market - Nationwide. Comments

Monday, I showed property to Clients in Newark, CA. I showed a three bedroom, 2 bath house in a great neighborhood for bout $349,000. Can you believe this? I showed homes in this area years ago for roughly $549k to $600k; this was amazing for “Buyers”!

Nehemiah Launches Web Community to Amass Surge in Support for Downpayment Assistance

Published by jonathanfleming August 14th, 2008 in Housing Market - Nationwide. Comments

Today, Nehemiah Corporation of America announced the launch of www.DPAGroundSwell.org, a web-based community established to mobilize the growing industry opposition to the October 1 ban on seller-funded downpayment assistance (SF-DPA). The ban on these programs was written into law by President Bush when he signed H.R. 3221 Housing and Economic Recovery Act of 2008 on July 30, 2008.

The site will bring together families and individual homeowners as well as industry groups and local members of the real estate market including brokers, bankers, lenders, homebuilders and others to provide a central information and communication hub to fight the ban.

Importantly, the site enables visitors to directly contact local representatives and offer support for a bill introduced by Representatives Maxine Waters, Gary Miller, Al Green and Christopher Shays on July 31, 2008, that would reinstate SF-DPA. If passed and signed into law, the FHA Seller-Financed Downpayment Reform and Risk-Based Pricing Authorization Act of 2008 (H.R. 6694) will allow downpayment assistance to continue indefinitely.

Press Release

Price report: No housing floor yet

Published by jonathanfleming August 12th, 2008 in Housing Market - Nationwide. Comments

Taking a tour of West Oakland in the last few weeks leaves one to believe two things: “Prices have definitely changed” and “There are great deals out there for Investors”. The way I see is a little different, being that I live in Oakland and most of these properties would stay “Jacked up” or “Deferred Maintenance” the housing crash will probably result in the fix up and repair of these homes eventually. In West Oakland, you have Duplexes selling for the low $100k ranges, you can actually get into a piece of good investment property for the low end, however it is not for people that cannot stomach any fix up work because there is a lot of work involved.

FHA changes make housing bill a ‘mixed bag’

Published by Jonathan Fleming July 30th, 2008 in Housing Market - Nationwide. Comments

By Matt Carter, Wednesday, July 30, 2008.

Market Conditions: Las Vegas, Nevada

Published by Jonathan Fleming July 14th, 2008 in Housing Market - Nationwide. Comments

Market Conditions: Las Vegas, Nevada

Good News for the Contra Costa County Real Estate Market!

Published by Jonathan Fleming July 8th, 2008 in Housing Market - Nationwide. Comments

The Housing Crisis Is Over By CYRIL MOULLE-BERTEAUX Wall Street Journal:

Published by Jonathan Fleming May 19th, 2008 in Housing Market - Nationwide. Comments

The dire headlines coming fast and furious in the financial and popular press suggest that the housing crisis is intensifying. Yet it is very likely that April 2008 will mark the bottom of the U.S. housing market. Yes, the housing market is bottoming right now. How can this be? For starters, a bottom does not mean that prices are about to return to the heady days of 2005. That probably won’t happen for another 15 years. It just means that the trend is no longer getting worse, which is the critical factor. Most people forget that the current housing bust is nearly three years old. Home sales peaked in July 2005. New home sales are down a staggering 63% from peak levels of 1.4 million.