Dave Henn of Landover Mortgage presented the HARP Federal Program which involves the possibility of refinancing current loans owned by Fannie Mae & Freddie Mac. More than likely the program won’t become active until December 1, 2011 so stay tuned to this web site. (Video Presentation)
Sales of previously owned U.S. homes rose more than anticipated in August as investors used cash to buy distressed properties. (At a personal level, I have come across numerous homes in a distressed situation with multiple offers waiting for a lender’s decision. This is becoming more of the norm than the exception.)
Purchases of existing houses, which are tabulated when a contract closes, increased 7.7 percent to a five-month high 5.03 million annual rate, figures from the National Association of Realtors showed today in Washington. The median forecast of economists surveyed by Bloomberg News called for a 4.75 million rate. (entire story)
So many losses on this day 10 years ago when America was attacked by airplanes flown into the World Trade Centers. The images on this video will forever be tattooed in my memory bank.
Real estate markets in California dominate a list of metro areas with the steepest percentage-based decline in home values over the past five years.
Data prepared by online real estate valuation and search company Zillow — based on the company’s home-value estimates and its Zillow Home Value Index, which is generated from those value estimates — reveals that six of the 10 metros with the most severe 5-year fall in value are in California, while two are in Florida and the other markets are in Arizona and Nevada.
The five-year declines in estimated value range from 67.6 percent to 55.6 percent, while the estimated dollar-value declines range from to $382,115 to $125,243.
Seattle-area home prices rose in June for the second straight month, according to the Case-Shiller home-price index.
Nationally, the index was up for the third straight month, numbers for June released Tuesday showed.
In the Seattle metropolitan area, which includes King, Snohomish and Pierce counties, prices rose 0.7 percent between May and June, according to Case-Shiller. The 20-city composite index — which includes Seattle — was up 1.1 percent for the month.
The mortgage interest rate markets are subject to an enormous number of factors. Most analysts agree that weather can have an effect on market activity. Although the effects are seldom long lasting, they can be quite significant.
The United States is the world’s largest exporter of corn. Relatively rainy weather across the Midwest portions of the United States can delay the planting of corn. This often causes corn prices to escalate. Sometimes corn farmers plant more acres of corn than analysts expect. Larger corn crops can cause prices to fall. Lower corn prices can carry over to lower food prices for some items. The weather also has the potential to directly alter fuel prices. As we enter the hurricane season, many oil and gas fields in the Gulf along with refineries along coasts are susceptible to damage. If this were to occur, oil prices would almost surely rise sharply. Rising oil prices would do little to help keep inflationary fears in check. The result would most likely be higher rates.
(Information provided by Trevor Reese of Wells Fargo)
The new limits are technically only good through December 31, 2011. It is entirely possible that the limits may change again for 2012. (Information provided by David Henn of Landover Mortgage)
Overlake Hospital Medical Center announced Thursday that it plans to open two new clinics in Redmond in the next six months.
The facilities include an urgent care center in the Creekside Crossing development at 17209 Redmond Way and a primary care clinic in Redmond Town Center at 7525 166th Ave. NE, Suite 105. The urgent care clinic is set to open this December, while the primary care center is scheduled to open in January 2012.
Overlake is also planning to open a clinic in downtown Kirkland at 290 Central Way. That clinic is set to open Oct. 17.
Patient care services at the primary care clinics will include same-day and walk-in appointments, comprehensive care for adults, immunizations, physical exams, acute care and chronic disease management. The Redmond urgent care clinic will include 10 exam rooms and a full-service imaging center with digital X-ray, CT and ultrasound.
Over the past two years, Overlake has focused on adding new primary care clinics and expanding its physician network to better serve patients in convenient locations close to where they live and work.
“At Overlake, we’re looking for ways to provide Eastside residents with better access to convenient and cost-effective medical care,” Alan Ertle, Overlake’s chief medical officer and vice president of network development, said in a statement. “Primary care and urgent care are two of the most efficient ways to access healthcare services, and both help patients actively manage their health with a focus on wellness and prevention.”
(Information Via Overlake News Release)
If you take mortgage-interest tax deductions, the next 100 days could have significant financial implications for you, thanks to Congress’ federal debt-ceiling plan.
Though the compromise legislation involved no new taxes, it created an unusual mechanism — an evenly split, 12-member bipartisan super-committee — that could call for major cutbacks in real-estate write-offs by Thanksgiving.
All it will take is a single vote by a lone senator or House member who breaks with his or her party to put the mortgage-interest deduction into serious play.
Here is what’s about to unfold and how it could affect you:
The legislation signed by the president Aug. 2 calls for a two-step increase in the federal debt ceiling plus spending cuts of about $917 billion. It also created the Joint Select Committee on Deficit Reduction with the goal of slashing an additional $1.5 trillion from the deficit over the coming decade.