Real Estate News Network July 3, 2008

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Today's Market Conditions Report
A comprehensive analysis of the market, with over 10,000 reports from Realtors across North America.

Phoenix Realtor Bob Stahl reports the number of closed sales in March increased to 4,293 -- a 25 percent increase of February and the highest number of closed sales since August 2007. FULL STORY->

Today's Headlines

It's no secret that Miami-Dade has the country's most crushing glut of unsold, unoccupied condo projects, with 25,000 sitting for sale -- a five year supply at current purchase rates -- plus another 19,000 units at some stage of approval or construction. FULL STORY->

In less than eight months, the absorption rate of Prince William County has dropped from a 14-month supply to a 5-month supply -- in essence, it has become a market in equilibrium -- neither a buyers nor sellers market. FULL STORY->

A combination of fear and greed are what will move the housing market forward. Sounds ugly, but it's true. The financial press has done such an excellent job of scaring the wits out of homebuyers, it will take the bargains of a century to get them to buy homes again. FULL STORY->

By now we're all used to the steady onslaught of bad news about the U.S. real estate market, but Forbes.com changed the tone a bit recently when they released their list of the 5 Best Cities for Home Sellers. FULL STORY->

Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 6.06 percent with an average 0.5 point for the week ending May 1, 2008, up from last week when it averaged 6.03 percent. Last year at this time, the 30-year FRM averaged 6.16 percent. FULL STORY->

Just as when you buy a car, you ought to look under the hood, so too, should you look beyond the pretty kitchen and living room décor, says Ken Justo owner of ASI Heating & Air Conditioning. FULL STORY->

Have a colleague that's always late? Are YOU always late? Here's the real reason why. FULL STORY->

What can I do about an inflated appraisal? How can I get out of a down and scary loan situation? Must a builder offer a home warranty? Peter G. Miller looks at the week's most interesting questions for Realty Times. FULL STORY->

Today's Interest Rates from Realty Times are based on a 30 year amortization rate, with good credit and no origination fees. Early indications are that investors are again betting on Wall Street, pulling money out of mortgage bonds and into the stock market. FULL STORY->


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Featured Writer:
David Reed

Mortgage Rates
30 Year Fixed: 6.06%
15 Year Fixed: 5.59%
1 Year Adj: 5.29%
(U.S. Weekly Averages)

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