Mortgage and Market Tidbits

  • Predictions – Both Fiserv and Moody Analytics are reporting that home prices have already leveled out in one of every four metro areas. Both are also saying that they estimate price stability will characterize 3/4 of US markets by the end of 2011, and they are even saying that they are expecting 100% to stabilize by the end of 2012.
    Fiserv in particular is saying that markets already stabilized include San Diego, Washington DC & San Francisco.  They expect markets to stabilize by the end of 2011 in: Minneapolis, New York City, and Portland Oregon (!!!).  Then comes the bad news as their predictions of the markets in Miami, Phoenix & Las Vegas, they say, will not stabilize till 2012.
  • Help from Uncle Sam “Getting Green” –  You may or may not know about the FHA’s new/upcoming “Power-Saver Loan”.  This loan is part of the government’s “Recovery Through Retrofit” program promoting energy efficiency and creating green jobs. Stay tuned for more details as this program is in the final stages of development and a select group of lenders will be qualified to help Buyers take advantage of a rare opportunity to be patriotic while simultaneously obtaining funding to get the green home of their dreams!
  • Home-Buyer FAQ’s Answered – So many questions so little time… But the NAR and HUD have recently released three free videos covering the basics of buying a home.  Shopping for a Home, Shopping for Your Loan, Closing the Deal.  All three take a total of approx. 30 minutes to view, and hey, your questions will be answered!!  Visit youtube.com/HUDchannel
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