An article from RealtyTimes.com, reports that there is evidence that buyers who'd been sitting on the sidelines are now making their way into the housing market. According to the Mortgage Bankers Association of America's national survey last week, applications for new, conventional loans to buy houses jumped by 11% and applications for FHA insured mortgages were up by 17%. With home prices sharply discounted in many of the former boom markets, and down slightly in many other areas, smart buyers are recognizing that it's time to make their move. Something to consider is to keep an eye on the mortgage rates. Last week, the MBA reported a sudden jump in rates. Also, the Fed is signaling that it may not cut rates again for some time. If buyers are thinking about picking up steeply-discounted real estate and financing it with cut-rate mortgage money, they might want to lock in their deals sooner, rather than later.
http://realtytimes.com/rtpages/20080619_realestateoutlook.htm
http://realtytimes.com/rtpages/20080619_realestateoutlook.htm
Hi Jude,
I am seeing movement here in south Orange County as well. Have a great week. Michael A. Caruso
FHA buyers have been keeping my searches going. These buyers are finding some really great deals and getting them into a contract to buy has been made easier by 5 fold.
Year ago I was searching a site where I could buy a house. I found really great site. It was called Fizber. There were great services. You can find them here http://www.fizber.com/sale-by-owner-home-services/index.htm.