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Mottgage Rates Down for 2nd Week in a Row
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The rate for a 30 year fixed mortgage averaged 6.14% week down from 6.20%. How much lower will it go? Well,it can't keep going down forever. We've seen some pretty volatile movement with the rates. Your best bet is to lock it in with the option to "float" the rate if it goes down lower. It really is an incredible time to buy with these low rate and so much to choose from. You can find something unique that fits you,and still get a great rate!
85,000 homes lost to foreclosure in October
NEW YORK (CNNMoney.com) -- As government and industry scrambled to stem the housing crisis, another 84,868 homes were lost to foreclosure in October, according to a report released Thursday.
EXCLUSIVE! New Listing, $279,000 4 Bedroom in Levittown!
New Listing,Exclusive to Century 21 Prevete 4 Bedroom Cape in Levittown for $279,000. For more info and a private showing, contact me. Or for more info on this home and many other great deals, sign up and receive the best homes on long island.
NEW LISITING! Under $300,000 in Hicksville!
JUST LISTED! A new homes in North Hicksville with a basement for $299,000. This one is sure to have multiple offers. For more info and a private showing,contact me. Or for more info on this home and many other great deals, sign up and receive the best homes on long island.
Pending Homes Sales down from August to September,but up from last year!
According to the "Pending Home Sales Index" pending home sales dropped 4.6% from August to September. But compared to a year ago,sales are actually up! In both Nassau and Suffolk Counties,September of 07' held 143 pending sales or homes "under contract". However this year in the same month there were 185 "under contracts" in Nassau & Suffolk. That's 30% higher! Those serious buyers wanted to close ASAP before they believed the "bailout" would effect them. But what about "after" the bailout? Did the market seize up because loans were "frozen"? No! In October '08, Nassau & Suffolk had exactly the same amount of pending sales as October of '07. It's a great time for sellers now because the available buyer pool is filled with home seekers that can actually afford a home. It's a great time for buyers because the mortgage rates are excellent and the prices are more reasonable.
The moral of the story is, don't always believe what you read! If you have a question about the what's really going on in the real estate market, contact a real estate professional.