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Posts From March 2007Home SalesTuesday, March 27th 2007
The National Association of Realtors said Friday, that existing home sales rose at the fastest pace in almost three years in February. Sellers take note! there is life in the market afterall. In the mid-atlantic and northeast sales were up 14.2% since January(via NAR's chief economist). Sales have been flat in the west and pretty dismal in the midwest, so at least we here in the east are seeing breath. All this being said, inventories are up as well, in a contradicting twist. Sellers again take note. There is hope of sale for you. But, buyer's take note as well. more inventory means more power for you in terms on negotiating, concessions, and selection. Investors, as i have said before. Understand where we are in the market now and how you can exploit it for profit. Research,research,researc...
Posted by scott @ 12:00 PM
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Interest Rates..Friday, March 23rd 2007
The fed announced interest rates would stay the same at 5.25%, unchanged since last june. observers view the neutral stance and other indicators from the Fed as opening the door to further rate cuts in the future. This will be the case if economic growth decelarates later. As you can see rates will be down for the near future. I also believe that a bottom in the housing market is near and in some areas here. Investors; on the residential side, i'm currently buying single family homes in working class neighborhoods from around 195-250k. I'll rent these out for approx. 3-5yrs then sell. Hampton Roads will always have a market for this price range as we have many blue collar workers with families as well as military families.
Posted by scott @ 07:27 AM
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Random new trends/thoughtsMonday, March 19th 2007
I've read several times now about a new interesting trend in new real estate developments- dual master bedrooms. A survey done by the National Association of homebuilders predicts that 60% of new custom homes will have dual master bedrooms. An interesting trend but judging by some of my friends sawing of logs, it makes sense. Economists surveyed by the wall street journal seem to be divided about problems with the sub-prime mortgage market. below is some unbiased data. According to the American Housing Survey for 2005, the most recent date for which data are available, 33 percent of all homes are owned outright and 57 percent have traditional mortgages, leaving just 10 percent potentially affected by ARM woes. Finally, a thought for investors. There is money to made in every market, educate yourself as to where we are as a market right now, where we will be, and act accordingly. Do not be shy about investing, buying, or selling in this market. Opportunity is abound! If you have any questions please contact info@neptuneblu.com.
Posted by scott @ 10:54 AM
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Real estate news at NeptunebluThursday, March 8th 2007
Hello all, Mortgage rates declined for the fourth time in the past five weeks, with the average 30-year fixed mortgage rate dropping to 6.19 percent. According to Bankrate.com's weekly national survey of large lenders, the 30-year fixed rate mortgages had an average of 0.3 discount and origination points. The above excerpt is from Realtor.com. As you can see mortgage rates are still extremely low. Inventory is high! This translates into - Time to Buy! It's a buyer's market out there. There are some great seller incentives and negotiations will most definitely benefit the buyer. With NEPTUNEBLU'S business model of REFUNDING thousands back to YOU the consumer, your really going to make out like a bandit!! Don't miss the buyer's market. Remember real estate is cyclical and if you wait you may end up buying in a seller's market! If you do procrastinate, don't worry NEPTUNEBLU will still be here to refund you THOUSANDS!!
Posted by Scott @ 06:34 PM
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