The 50-year home loan.
While not yet available in Florida, the mortgage company offering it says ads have yielded a lot of phone calls and "quite a few applications."
Wednesday, May 03, 2006
New mortgages - makes you feel like living longer
Buying before selling?
Have you thought about buying a property before selling? Here are some interesting finding - A RealEstate.com survey of 550 "bridging" homeowners who juggled both a home sale and a home purchase during the last five years found that 70 percent felt worried and 67 percent felt hesitant during the
transactions -- even though 62 percent successfully closed both deals. Notice that 62 percent successfully closed both deals - don't be one of the 38%.
IN THE BUYING MOOD?
According to a recent Gallup poll, more than half of Americans still
believe it is a good time to purchase a home, but the percentage fell
to 52 percent in April from 71 percent in April 2005 and 81 percent
in 2003. Coastal residents are less optimistic about the housing
market than others, with only 44 percent of East Coast residents and
49 percent of West Coast denizens believing that now is a ripe time
to be a homebuyer. Given that respondents feel similarly about the
national economy, local business conditions, personal finances and
the job market as they did last April, researchers attribute the decline
in optimism to a slowdown in home-price appreciation and other
market trends. However, it is unclear whether or not these trends
will prompt buyers to hesitate and take a wait-and-see approach to
the market.
Source: Gallup Poll (05/01/06) Saad, Lydia
© Copyright 2006 INFORMATION, INC. Bethesda, MD
(301) 215-4688
General Statistics about real estate
* 30-year fixed-rate mortgage: 6.58%, up from 6.53% the previous week.
* U.S. new home sales: +13.8% to a seasonally adjusted rate of 1.213 million units in March, the biggest one-month gain since April 1993.
* Florida consumer confidence index: -2 points in April to 89.
* U.S. consumer confidence index: + 2 points in April to 109.6.
Florida Real Estate Market - Prices up, sales down
This may be the headline for Florida housing stories for some time as the market settles down after five years of phenomenal growth. In March, sales of single-family existing homes totaled 18,881, a 22% drop from March 2005 levels. The condo market experienced a decline in sales as well. Among Florida's 20 Metropolitan Statistical Areas, 6,481 condos changed hands in March, a 23% decline from a year ago. As for median prices, they're up again-17% for single-family homes (to $248,200) and 2% for condos (to $214,200). Single-family home prices are highest in Naples ($505,800) and lowest in Ocala ($161,100); condo prices are highest in Fort Walton Beach ($411,800) and lowest in Lakeland-Winter Haven ($128,000).
Same story nationally: March single-family existing home sales dropped 0.7% to a seasonally adjusted annual rate of 6.92 million units compared to the same period a year ago, and the median price jumped 7.8% to $217,300.
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