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“A smile is a curve that sets everything straight.” – Author Unknown
Market Update: Following another strong opening from the stock markets, Mortgage Bonds have battled back from a much lower opening to levels close to yesterday’s close. Yesterday we also saw a much lower opening, and Mortgage Bonds battling back all day long. This is certainly a much better alternative than a stronger opening, and a trading day where Bonds continually lose ground.
The market driver is, and will be Europe. News this morning is that the central banks of the US, Euro region, Canada, UK, Japan and Switzerland have agreed to collectively boost the liquidity in the global financial system. That being said, this boost of liquidity does not solve the European debt problems, and this uncertainty is the reason for a boost in Mortgage Bonds since the trading day opened
Survey: Most Boomers Would Cover Kids' Down Payment - Baby boomers may be in a better position than most to buy homes, but not before helping Junior out of a bind. A national survey found that at least two-thirds of boomers age 45 and up want to help their children or grandchildren with a home down payment. The results overwhelmingly show a generation that still appreciates the value of homeownership, despite their children's difficulties in the market. One in five boomers stated that they've already loaned money, co-signed a mortgage, or given a cash gift to children for a down payment. Read article:
Pending Home Sales Jump in October - Pending home sales rose strongly in October and remain above year-ago levels, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator based on contract signings, surged 10.4% to 93.3 in October from 84.5 in September and is 9.2% above October 2010, when it stood at 85.5. Read article:
New-Home Sales Post Biggest Gains in Months - New-home sales for single-family homes rose 1.3% in October, marking the best pace for new-home sales activity since this May, the U.S. Commerce Department reports. A break down of sales by region in October: 1) Midwest: Rose 22.2%; 2) West: Rose 14.9%; 3) Northeast: Stayed flat; and 4) South: Declined 9.5%. "Particularly encouraging is the fact that builders continue to hold down their inventories to match the current sales rate, with the number of new homes for sale now down to a sustainable, 6.3-month supply," NAHB Chief Economist David Crowe said in a statement. Read article:
Should I Take My Home Off The Market During The Holidays? - Although buyer activity may appear to slow down, the buyers who are actively looking during the holidays are that much more serious. Here are some more things to remember: 1) Relocating families often don't have a choice in when they can leave for their new destination. 2) Allowing buyers to view your home during this most hospitable of seasons lets them better picture their own family life in the attractive environment you have created. When is your home ever more beautiful and inviting? 3) With reduced inventories and motivated buyers, you will have all the members of the MLS on your team. 4) If you do get a contract, you can arrange the terms to suit your needs. Read article:
Strategic Defaulters Roll The Dice ** Let me know your thoughts on this article.
Buyers: Making the Right Choice
Follow this area for homebuying and selling tips.
Even though prices will soften, that doesn't mean buyers shouldn't buy now. Remember, the seller needs to be concerned about PRICE; the buyer should be concerned about COST. The additional costs in obtaining a mortgage in the future may far outweigh any depreciation in value.
Over the last thirty years, many sellers have waited until the spring to sell their homes. The logic was that demand for homes increased in the spring and therefore you may get a better price for your home. Demand will increase again this year. Most experts feel that this increase in discounted properties will be greater than any increase in demand thus putting additional downward pressure on prices.
Foreclosures for the week of November 30th, 2011 Please call for more information.
PT Address Opening Bid Deficiency Lender
11-076 241 Shooting Star Way, Silverthorne $345,000.00 $43,395.38 Wells Fargo Bank
11-087 455 Village Road P5, Breckenridge $410,000.00 $17,190.63 Wells Fargo Bank
11-190 Future Units 701B-1-3, Frisco $211,068.67 Macatr, LLC.
11-191 311 97th Circle, Breckenridge $390,589.23 Bank of America
11-199 1941 Boreas Pass Road, Breckenridge $106,250.00 $ 7,491.86 US Bank National
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