NAR: Mortgage Conditions Bode Well for Housing

As reported in REALTOR Magazine OnLine's Daily Real Estate News on October 10, 2007. Conditions in the mortgage market are improving for consumers, which should help to release some pent-up demand in early 2008, according to the latest forecast by the NATIONAL ASSOCIATION OF REALTORS®.

Lawrence Yun, NAR vice president of research, notes that widening credit availability will help turn around home sales. “Conforming loans are abundantly available at historically favorable mortgage rates. Pricing has steadily improved on jumbo mortgages since the August credit crunch, and FHA loans are replacing subprime mortgages,” he said.

Yun said it’s important to place the current housing market in perspective, Read More

REALTOR Magazine OnLine's Daily Real Estate News on October 10, 2007 also reported:

Mortgage Applications Rise Despite Higher Rates

Mortgage applications rose last week after falling for three weeks, according to the Mortgage Bankers Association weekly survey.

The Market Composite Index, a measure of mortgage loan application volume, was 652.0, an increase of 2.4 percent on a seasonally adjusted basis from 636.7 the previous week. On an unadjusted basis, the index increased 2.4 percent compared with the previous week and was up 8.6 percent compared with the same week last year.

The refinance share of mortgage activity increased to 46.2 percent of total applications, while the adjustable-rate mortgage share continued to decline to 13.6 percent of total applications.

Overall, average mortgage rates increased:
30-year fixed-rate mortgages increased to 6.40 percent from 6.32 percent
15-year fixed-rate mortgages increased to 6.03 from 5.95 percent
1-year ARMs decreased to 6.15 from 6.21 percent

Source: Mortgage Bankers Association (10/10/2007)

Pat Ogle and The Annapolishomes4You Team
Champion Realty, Inc
410-224-0660
http://www.annapolishomes4you.com/
PatOgle@AnnapolisHomes4You.com

Your dedicated Real Estate Professionals in Annapolis Maryland , Anne Arundel County, the Maryland Eastern Shore, and the surrounding areas in Maryland. We specialize in Annapolis Relocation, Annapolis Real Estate, Anne Arundel County Real Estate, Arnold Real Estate, Severna Park Real Estate, and Edgewater Real Estate. We specialize in Annapolis Waterfront Real Estate, Arnold Waterfront Real Estate and Severna Park Waterfront Real Estate.

10 Cities Where It's a Great Time to Buy

Found this artlice at the REALTOR Magazine Online

Daily Real Estate News October 9, 2007

10 Cities Where It's a Great Time to Buy

The real estate business may be facing a softening in sales, but there are parts of the country where it makes sense to buy now. Forbes magazine examined current home sales patterns and sales projects in the country’s 40 largest real estate markets to identify these attractive markets.Based on models that estimated 2008 housing inventory, sales rates, and turnover, the magazine compiled a list of markets that are experiencing price declines, but where buying looks attractive because there is likely to be an increase in sales in the near future.Here are Forbes’ and Moody’s 10 most attractive markets, along with the median homes sales price and their price change from 2006.

Fort Worth, Texas: $156,500, 1.7 percent
Kansas City, Mo.: $157,700, -0.7 percent
Houston: $154,900, 1.4 percent
Cleveland: $128,700, -7.1 percent
Denver: $255,200, none
Long Island, N.Y.: $482,300, 1.7 percent

Washington, D.C.: $445,300, 0.3 percent

Orlando, Fla.: $265,100, -2.4 percent
Phoenix: $264,800, -2.7 percent
Las Vegas: $307,900, -3.6 percent

Source: Forbes, Matt Woolsey (10/08/07)

Pat Ogle and The Annapolishomes4You Team
Champion Realty, Inc
410-224-0660
http://www.annapolishomes4you.com/
PatOgle@AnnapolisHomes4You.com

Your dedicated Real Estate Professionals in Annapolis Maryland , Anne Arundel County, the Maryland Eastern Shore, and the surrounding areas in Maryland. We specialize in Annapolis Relocation, Annapolis Real Estate, Anne Arundel County Real Estate, Arnold Real Estate, Severna Park Real Estate, and Edgewater Real Estate. We specialize in Annapolis Waterfront Real Estate, Arnold Waterfront Real Estate and Severna Park Waterfront Real Estate.

Who Are You?

Here's a quick post to introduce myself. I'm "Sleeping Beauty's Sister" and I'll be your guest host once a week. I'll be popping in to drop my thoughts on life, after all there's only so much real estate a person can take, right? If you have a question about living in Annapolis feel free to post a comment and I'll put the answer in my next post. If you just enjoy reading my ramblings post a comment about those too and let me know what you think. While you wait hungrily for my next installment feel free to get your fix at my blog, http://sleepingbeautyssister.blogspot.com . All posts guaranteed to make you smile.

Understanding The Mortgage Crisis

The following video by Jon Coile President of Champion Realty, Inc. is the best explanation of the current mortgage crisis I have seen. Once you have seen it you will understand what is taking place. http://champion411.com/mortgage.html

Pat Ogle and The Annapolishomes4You Team
Champion Realty, Inc 410-224-0660
http://www.annapolishomes4you.com
PatOgle@AnnapolisHomes4You.com

Your dedicated Real Estate Professionals in Annapolis Maryland , Anne Arundel County, the Maryland Eastern Shore, and the surrounding areas in Maryland. We specialize in Annapolis Relocation, Annapolis Real Estate, Anne Arundel County Real Estate, Arnold Real Estate, Severna Park Real Estate, and Edgewater Real Estate. We specialize in Annapolis Waterfront Homes, Arnold Waterfront Homes and Severna Park Waterfront Homes.

You Can Still Get a Mortgage--It Just May Not Be Easy, or Cheap

I would like to share an article I found from CNBC in regards to the market and the changes all lenders are making. This is going to be a period of adjustment for buyers and for us lenders; we are going to have to use other avenues to help our buyers who do not meet the stricter lending requirements. Such as educating the buyers and helping them to qualify for the stiffer lending requirements. Giving them credit counseling to improve their credit so they can qualify for a loan and going back to the basics when it comes to what loans will work for our buyers. One program that I will discuss next week is FHA. Please enjoy the article below.

You Can Still Get a Mortgage--It Just May Not Be Easy, or Cheap

Until a few months ago, it seemed that anyone who could fog up a mirror could get a mortgage._ Now, with a credit crisis roiling the industry, some consumers might think they have a better chance winning the lottery than finding a home loan. For more on this visit http://www.cnbc.com/id/20388273/from/ET/

Lewis Ivey Champion Realty Mortgage
711 Bestgate Rd Annapoils, Md 21401
Business:410-224-7134
Mobile:301-602-2536
Email: LewisIvey@.ChampionRealtyMortgage.com
Web Site: http://www.lewisivey.com/


Your dedicated Real Estate Professionals in Annapolis Maryland , Anne Arundel County, the Maryland Eastern Shore, and the surrounding areas in Maryland. We specialize in Annapolis Relocation, Annapolis Real Estate, Anne Arundel County Real Estate, Arnold Real Estate, Severna Park Real Estate, and Edgewater Real Estate. We specialize in Annapolis Waterfront Real Estate, Arnold Waterfront Real Estate and Severna Park Waterfront Real Estate.

234 Tilden Way Edgewater, MD 21037

Welcome to 234 Tilden Way in Edgewater, MD. Offered at $385,000 this beautiful, spacious townhouse in the River Oaks community backs to woods and is in move-in condition! New carpet & freshly painted this home features 3 finished levels w/bump outs on all levels, 9 foot ceilings, 4 bedrooms, 2 full & 2 half baths, a sun room with hardwood floors, gas fireplace and slider leads to a 2ND level deck. The foyer and kitchen feature beautiful custom tile. The eat-in kitchen also features an island and upgraded appliances. The 3rd floor master bedroom has vaulted ceilings, walk-in closet and soaking tub. Bay windows, custom brick patio, fenced back yard with swing, security system and access to the community playground are a few of the many amenities. For more information please visit www.234tildenway.com.

2802 Cox Neck Rd

Welcome to 2802 Cox Neck Rd in Chester, MD. Offered at $865,000, this magnificent custom brick colonial home has breathtaking water views of Crab Alley Bay and Cox Creek. This house has it all; hugh open floor plan, screened in porch, 4 Bedrooms , Master Bedroom w/Sitting Room and view, a 2 Story Family Room, Din Room, Game/Exercise Room, Office/Den, 2 Car Garage, Gourmet Kitchen, Living Room, Unfinished Basement, and Southwind Community amenities. All surrounded by water views. For more information visit www.2802coxneck.com.

305 Broadwater Rd Arnold, MD

Welcome to 305 Broadwater Rd in Arnold, MD. Offered at $349,900, this beautiful 3 BR, 2 BA rancher is located in Windsor Forest. New from the ground up in 2001, this home is located on a corner lot with a large fenced rear yard. Freshly painted with new carpet this home is in move-in condition. A rear deck, large storage shed and large paved driveway are a few of the many features. Conveniently located in the Broadneck School District, you are just a stone’s throw from Belvedere Elem. Great for the 1st time home buyer or someone looking for the ease of one level living. Just minutes from Historic Annapolis and the Naval Academy. For more information please visit www.305Broadwater.com