Saturday, September 13, 2008

Fannie/Freddie bailout

Reprinted from: Daily Real Estate News September 8, 2008
"The federal government's sweeping takeover of mortgage market giants Fannie Mae and Freddie Mac is expected to have positive short-term benefits to the real estate market and opens the door for the industry to shape the restructuring of the companies. The NATIONAL ASSOCIATION OF REALTORS® commended the Treasury Department's decision, which it said will bring much-needed stability and continued liquidity to the nation’s mortgage market."

""This demonstrates that the government is clearly committed to keeping the flow of capital uninterrupted, which is crucial to the housing sector and the economy," NAR President Richard F. Gaylord said in a statement Monday. "

"Fannie and Freddie own or guarantee almost half of the country's $12 trillion in outstanding home mortgage debt."Fannie Mae and Freddie Mac play a vital role in the U.S. economy by making fair and affordable mortgage loans available for home buyers and owners," Gaylord said. "Their critical mission must not be interrupted, and Sunday’s announcement goes a long way in making sure that does not happen.""

Beacon Hill townhomes

I will be holding open 2 new construction townhomes on Beacon Hill for a change of pace this Sunday (as opposed to my usual West Seattle venues). These units, located at 1307 & 1309 S. Hill Street, are ultra-modern in design. Priced $329K & $339K. For more details and/or driving directions, go to my Prudential website http://www.AliceKuder.pnwRealty.com/ and click on the (view all) Featured Properties area. I will be at the Beacon Hill site from 1-4PM Sunday. You can also find a list of all Prudential Open House events at the following website: http://www.OpenHousePNW.com/

Friday, September 12, 2008

Latest Market Tracker Reports available

The latest Market Tracker reports -- exclusively from Prudential Northwest Realty -- were just released this week. This report provides 4 separate graphs which show current market activity for specific zip codes. Reports for zip codes 98106, 98116, 98126, 98136 and 98146 are available for immediate download from my Prudential website. Click here to go to that site. Contact me to request reports for other zip codes throughout the state of Washington.

Mortgage Rates Drop Below 6%

Reprinted from: Daily Real Estate News September 12, 2008
"For the first time since early spring, mortgage rates have fallen below the 6-percent threshold. Freddie Mac reports that 30-year fixed loans came in at an average of 5.93 percent this week, down from 6.35 percent a week ago and 6.31 percent at the same time last year. A borrower taking out a $200,000 mortgage at 5.93 percent would pay $1,190 for monthly principal and interest payments, which is $54 less than the payments on last week's rate. "Consumers see a five in front of mortgages, and they get excited," says Keith Gumbinger, a vice president at research firm HSH Associates. "