Mortgage Rates Reverse Course

Mortgage rates eased this week, reversing three consecutive weeks of increases, as Federal Reserve policymakers weighed further stimulus measures that could include additional purchases of mortgage-backed securities that fund most U.S. mortgage loans. 

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Rates for 30-year fixed-rate mortgages averaged 3.59 percent with an average 0.6 point for the week ending Aug. 30, down from 3.66 percent last week and 4.22 percent a year ago, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey. Rates on 30-year fixed-rate mortgages hit an all-time low in Freddie Mac records dating to 1971 of 3.49 percent during the week ending July 26. Read More...

8 Things to Reconsider Before Relocating

Moving to a new area can be daunting. You can ease the anxiety if you do your home work and take a few precautions that might not be necessary if you were selling one house and buying another one in the same area.  Read More...

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July Pending Home Sales Rebound

Pending home sales rose in July to the highest level in over two years and remain well above year-ago levels, according to the National Association of REALTORS® (NAR).

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The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 2.4 percent to 101.7 in July from 99.3 in June and is 12.4 percent above July 2011 when it was 90.5. The data reflect contracts but not closings.  Read More...

Home Prices up Across the Board

Home prices in the second quarter gained across all headline composite indices measured in the latest Standard & Poor's/Case-Shiller report.

This is the first time all three headline composites studied by S&P have reported positive annual growth simultaneously since the summer of 2010.

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"This is a clear sign we've turned around," said David Blitzer, managing director and chairman of Standard & Poor's Index Committee in an interview on CNBC.  Read More...

Sales of Existing Homes Improve as Prices Rise

According to the National Association of REALTORS®, resales of single-family homes, townhouses, condominiums and co-ops grew 2.3 percent in July from June to a seasonally adjusted annual rate of 4.47 million. The measure took an unexpected fall in June.  Read More...

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Time to Buy Now? Mortgage Rates are Rising.

Fixed mortgage rates rose for the third straight week after setting all-time lows, with the typical 30-year rate increasing from 3.59% to 3.62%, home finance giant Freddie Mac reported.

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Freddie Mac's weekly survey, released Thursday morning, pegged this week's average for the 15-year fixed loan at 2.88%, up from 2.84% a week earlier. The start rates on variable-interest loans were mixed.  Read More...

Price Your House to Sell Quickly

A first-quarter survey of homebuyers and sellers done by HomeGain.com, a real estate services website, revealed that 76 percent of homeowners believe their home is worth more than the list price recommended by their real estate agent.  Read More...

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5 Mistakes Sellers Make in a Hot Market

Sometimes, the real estate market can play games with our minds. At the top of the market, home buyers imagine that sellers frolic through fields of cash, rubbing their hands together megalomaniacally as they flip through hundreds of offers, concocting arcane "no brown M&M"-type contract clauses to put the screws to buyers-in-waiting.  

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At the bottom of the market, the tables turned, and sellers might have visualized buyers sitting on top of truckloads of cash, while deigning to offer them only a paltry few pennies for their Most Precious Asset. Read More...

The National Housing Market - Compared to One Year Ago

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Positive Housing Report Lifts Shares

Encouraging earnings from Cisco and positive signs in a housing report lifted the stock market Thursday and nudged the Standard & Poor’s 500-stock index near a four-year high it reached in April. 

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Cisco Systems, the maker of computer networking equipment, led the 30 stocks in the Dow Jones industrial average, surging 10 percent. Read More...

Home Prices on the Rise while Mortgage Rates Remain Low

This past week, Freddie Mac released their U.S. Economic and Housing Market Outlook for the month of August, 2012 which revealed a much needed home price increase. The Freddie Mac House Price Index increased 4.8% from March to June, 2012 which was the largest quarterly increase in eight years. Read More...

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Home Price Picture Across the US is Uneven

The median national home price rose 7.3% in the second quarter of 2012 compared with the same period a year ago. But that statistic hides the real variation in local home prices. Read More....

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No Rush to Lock in Low Rates

9: Number of months in the last 12 when mortgage rates hit new record lows.

“Lock in your low rates” is a common refrain among realtors. So common, in fact, that we’ve been hearing it for years now, and likely for years to come.  Read More...

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America's Favorite Cities - How does Santa Fe Rank?

Check out how Travel & Leisure rates Santa Fe, NM

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Finally, it is Time to Buy a House!

Warren Buffett famously once said: "Be fearful when others are greedy, be greedy when others are fearful."

And if you're not instinctively scared of the housing market, then global warming, saturated fat, running with scissors and the bogeyman probably aren't keeping you awake at night, either.

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The fact that everyone is scared to dabble in—much less commit to—housing makes it a close-to-perfect investment based on Mr. Buffett's principle. But buying real estate is a good long-term investment for many more reasons, some of which have only become apparent in recent weeks. Read More...

Mortgage closing costs fell 7% for homebuyers

NEW YORK (CNNMoney) -- Federal regulations are helping to significantly reduce the amount new homebuyers are paying come closing time.

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The average cost of closing on a mortgage has fallen by 7.4% over the past year, according to a recent survey by Bankrate.com. At the end of June, a homebuyer looking to close on a $200,000 mortgage with 20% down paid an average of $3,754, $300 less than 12 months earlier. Read More

If you can pull it off, a house is a smart investment

Investment opinions are like, um, noses: Everyone has one. Buy stocks, sell bonds? Go long steel and short copper? Buy sheep, sell deer? 

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It's pretty easy to see both sides of an investment argument. But it's hard to argue against buying a house now, assuming you can get a loan.  Read More

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Gorgeous Gated Condo in the Railyard - Santa Fe, NM

Stand alone casita, a short walk to town or the railyard. Rastra construction in the Assisi Compound, a walled and gated garden setting with 9 distinctive casitas in the vibrant Railyard -Guadalupe area. Very private with lots of east light and custom lighting. Travertine floors throughout. The open living area is augmented by a central flagstone patio. Well separated bedroom suites plus study with private entrance.

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In Santa Fe - 2012 homes sales on pace to be best in five years

2012 homes sales on pace to be best in five years In Santa Fe, NM

Those who sell homes in Santa Fe have had little reason to smile the past few summers. There was the financial meltdown and recession in 2008-09, and last summer’s wildfires kept tourists away and dented sales.

But like a rubber band, the summer of 2012 so far represents a rebound for residential sales in Santa Fe County.  Read More....

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