For the week of Dec 15, 2008 | Vol. 6, Issue 51
“What happens in Washington doesn’t stay in Washington.” And that was especially true last week, as the effect of Congress’ actions regarding the U.S. automakers rippled out into the markets.

Bonds and home loan rates spent last week testing their previous best levels of 2008, and finally rallied on Friday to reach their best levels not just of 2008 but of the last five years. Stocks, meanwhile, were under pressure throughout the week waiting to see whether Congress would approve emergency loans for GM and Chrysler. While the House of Representatives approved the measure Wednesday evening, the Senate rejected the $14 billion bailout for the US automakers on Thursday evening, citing a lack of wage concessions by the United Auto Workers (UAW). (more…)

Tags: Real Estate, Real Estate News

The November 2008 U.S. Foreclosure Market Report™ by RealtyTrac shows foreclosure filings reported on 259,085 U.S. properties during the month, a 7 percent decrease from the previous month but still up 28 percent from November 2007. The report also shows one in every 488 U.S. housing units received a foreclosure filing in November. (more…)

Tags: Real Estate, Real Estate News

Don’t wait for the market to turn to get you own piece of the real estate investment pie.

By Mariwyn Evans | December 2008

Join these savvy real estate professionals who have parlayed large for-sale inventories and more affordable home prices into a personal buying opportunity—and in the process helped ensure a prosperous future.

Why is it a great time to buy residential property for your personal investment portfolio? For all the reasons you’ve been telling buyers—lots of inventory, low mortgage rates, and motivated sellers. In addition, circumstances that make it harder for some buyers to own increases the pool of renters. (more…)

Tags: Real Estate, Real Estate News

For the week ended Dec. 3, Freddie Mac reported the lowest interest on 30-year fixed home loans since late January.

The rate came in at an average of 5.53 percent, down from 5.97 percent the previous week and 5.96 percent a year ago; while 15-year fixed mortgages settled at 5.33 percent compared to 5.74 percent last week and 5.65 percent in the year-earlier period. (more…)

Tags: Real Estate, Real Estate News

Teeny-tiny housing is increasingly appealing to buyers and renters, especially when there are spacious common areas packed with amenities. Apartments as small as 264 square feet are a big draw in Legacy Village in Plano, Texas.

Developers point to these issues as drivers in the trend:
* No money. The smaller the place, the cheaper the monthly rent or mortgage. People who don’t have money find low prices appealing. (more…)

Tags: Real Estate, Real Estate News

Land is a homeowner’s most valuable asset
By Broderick Perkins Homestore.com

Your home’s real value is in the dirt. When you purchase a home, you actually buy real estate, a combination of dirt (the land) and all the stuff affixed to it: your home, the garage, a swimming pool, fences, septic tanks and driveways. (more…)

Tags: Real Estate, Real Estate News

In the midst of one of the most challenging housing markets in recent history, the October comScore Media Metrics report shows visitors on REALTOR.com are spending more time and viewing more pages as they closely track the pulse of the real estate market. REALTOR.com, the official website of the National Association of Realtors, is operated by Move, Inc. (more…)

Tags: Real Estate, Real Estate News

By Rick Pendergraft

This past May I wrote an article for Unplugged entitled “81 Billion Reasons Why Gas Affects The Economy”. In that article I talked about how much rising gas prices were siphoning out of the economy each year. Well now the opposite reaction is happening.

Here is the meat of that article: (more…)

Tags: Economy