With the 2ND half just underway here are some key points to watch for in the coming months in Today's New World Of Real Estate.
INTEREST RATES are holding fairly steady with conventional rates hovering in the mid 5's and jumbo loans in the 7.5-8.0% range.
APPRAISALS are still a nightmare with the new regs that have kicked in as of May 1. The Federal Government in yet another attempt to 'fix' what's wrong with the housing market now requires stiffer rules on appraisers and how, where, what, etc. they do their jobs. As per most Fed dabbling, the problems are worse than ever.
CAP AND TRADE which is one of the most idiotic proposals EVER relative to the housing market has passed (I SAID PASSED) the U.S. House and will now move on to the Senate. If it passes there and is signed into law it will single handedly destroy half or MORE of the equity that American homeowners have. In fact, I'll have a new VIDEO BLOG coming this week about just that subject.
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317-848-GREG (4734) or Greg@GregCooper.com.