As usual at this time of year, my crystal ball is a little cloudy, but 2022 is beginning to feel a lot like Groundhog Day. What will the future bring us in 2022? As my dear old granny used to say, one man’s misfortune is another man’s wealth. (Don’t blame me for the pronouns, this is from my granny.) Billionaires
Condos In The Time of COVID-19 If you had asked me a couple of years ago if condos were an acceptable substitute for a regular home, I would have said probably not. Thank goodness no one asked me. Condos have become a terrific affordable alternative when searching for a home. First Time Home Buyers can purchase a condo with as
Interest Rates In The Time of COVID-19 At the beginning of 2020, the oracles forecasted a booming economic year and steady mortgage rates somewhere in the 4’s. Their crystal balls prophesied 2019’s low mortgage rates would become a unicorn, a blip to read about in history books. That was of course, before COVID. Now, the rates have fallen to areas
Appraisals In The Time of COVID-19 In these COVID times, appraisals are the hurdle to closing transactions. (BTW, have you noticed that COVID is the excuse for EVERYTHING? Some appraisers provided awful service before, but now they have an excuse.) Appraisals are to protect the buyer from purchasing an overvalued home and all appraisers are managed by appraisal management companies.
Unconventional Mortgages Make a Comeback …a flavor of mortgage once panned for its role in the housing meltdown a decade ago is making a comeback. These loans, aimed at buyers with unusual circumstances such as those who can’t provide the standard proofs of income, are growing rapidly even as rising interest rates and higher home prices crimp demand for mortgages.
By Tim Gallen – Digital Editor, Phoenix Business Journal Nov 29, 2018, 9:00am EST Phoenix will be one of the top housing markets to watch in 2019, according to a report from real estate website Trulia. The analysis, released Thursday, highlights the 10 markets poised for growth in the coming year. Phoenix ranks No. 7 on the list, just behind Fresno, California and
The FED or Federal Reserve became a thing in 1913 to set the nation’s monetary policy, maintain the stability of the financial system and provide financial services to banks, the U.S. government and foreign official institutions. The FED is our economic babysitter. For instance, the FED lowered the FED rate to almost zero during the great recession.This allowed money to flow cheaply
Today’s housing market may be a little scary for some of us. The terror and twists over the past eleven years may have made us feel like we entered a house of horrors. After the frightful economic downturn in 2008, in which the banks sucked the life out of home owners, home values dived 6.1% annually until February 2012. From
In the 1976 movie, Marathon Man, the character played by Laurence Oliver, tortured a clueless Dustin Huffman and repeatedly asked “Is it safe?” We are asking the same question, is it safe? Has the economy landed on a gorgeous Wakanda filled with stunning people, gourmet food and cool technology? Or, will it blow up on us like the island of