Bernanke: Housing Rebound Coming
U.S. Sen. Pete Domenici (R-N.M.), after a private meeting with Federal Reserve Chairman Ben Bernanke, said the central bank chief anticipates signs of a rebound in the housing market by the end of 2008.
Concerns remain that the market downturn will cause an economic recession, which prompted the Fed to cut interest rates recently.
Meanwhile, despite an "unusually uncertain" economic outlook, San Francisco Fed President Janet Yellen says the country will avoid an "outright recession." A survey of economic forecasters by the Philadelphia Fed indicates slightly less than 50-50 odds of a recession.
Source: Investor's Business Daily (02/13/08)
© Copyright 2008
Wednesday, February 13, 2008
Daily Real Estate News | February 13, 2008
Mortgage Applications Slide Last Week
The number of mortgage applications declined last week compared with the previous week, but business was still brisk, according to the Mortgage Bankers Association weekly mortgage applications survey released Wednesday.
Loan volume was 1063.5, a decrease of 2.1 percent on a seasonally adjusted basis from 1086.6 a week ago. On an unadjusted basis, the index decreased 0.4 percent compared with the previous week, but was up 65 percent compared with the same week a year ago.
The refinance share of mortgage activity decreased to 67.4 percent of total applications from 69.2 percent last week.
Mortgage rates, which increased slightly, were probably behind the small decline:
30-year fixed-rate mortgages increased to 5.72 percent from 5.61 percent.
15-year fixed-rate mortgages increased to 5.18 percent from 5.09 percent.
1-year ARMs increased to 5.72 percent from 5.62 percent.
Source: Mortgage Bankers Association (02/13/2008)
The number of mortgage applications declined last week compared with the previous week, but business was still brisk, according to the Mortgage Bankers Association weekly mortgage applications survey released Wednesday.
Loan volume was 1063.5, a decrease of 2.1 percent on a seasonally adjusted basis from 1086.6 a week ago. On an unadjusted basis, the index decreased 0.4 percent compared with the previous week, but was up 65 percent compared with the same week a year ago.
The refinance share of mortgage activity decreased to 67.4 percent of total applications from 69.2 percent last week.
Mortgage rates, which increased slightly, were probably behind the small decline:
30-year fixed-rate mortgages increased to 5.72 percent from 5.61 percent.
15-year fixed-rate mortgages increased to 5.18 percent from 5.09 percent.
1-year ARMs increased to 5.72 percent from 5.62 percent.
Source: Mortgage Bankers Association (02/13/2008)
!!!SOLD!!! Home For Sale De Smet, SD!
317 Front St NW, De Smet, SD 57231List #07-692
!!!SOLD!!!
De Smet, SD Real Estate
Real Estate for Sale in De Smet, SD
List Price $56,500
Older home with a lot of Remodeling. New addition completed in 1995, added Living Room, Master Bedroom, Bath and Closet. Unfinished basement under addition could be made into a nice family/rec room. Kitchen has been updated.
Older home with a lot of Remodeling. New addition completed in 1995, added Living Room, Master Bedroom, Bath and Closet. Unfinished basement under addition could be made into a nice family/rec room. Kitchen has been updated.
List Price: 56,500
Possession Date: TBD
Legal: Lot 9, EXC S 65', Block 1 Ely's Addition
Realtor.COM Type: Residential Single Family
Descriptive Information
Area: Residential
Style: 1 Story
Lot Size: 75' x 74'
Year Built: 1948
Stories: 1
Total SqFt: 1,400
SqFt ML: 1,400
SqFt LL Finish: 0
Total Finished SqFt: 1400
Taxes: 883.08
Tax Year: 2006
Garage: None
Total Bedrooms: 3
Total Bathrooms: 2
Total Full Baths: 1
Total 3/4 Baths: 1
Directions: Take Hwy 14 to De Smet, turn North on 25 to Front St, Turn left to end of the Block.
For more information or to schedule a viewing of this property please call me, Justin Fjeldos, at (605) 691-1240 or email Justin@BrookingsHomes.com
This property is listed by Sharon Reents of Best Choice Real Estate, Brookings, SD.
CANCELLED! Brookings, SD New Construction for Sale!
1744 Torrey Pines Drive, Brookings, SD 57006List #08-52
Brookings, SD Real Estate
Brookings, SD Affordable New Construction
Brookings, SD Affordable New Construction
List Price -CANCELLED-
Affordable 1100 square foot split foyer with 2 bedrooms, 1 bathroom and a finished family room in the lower level. This home features cement board siding, a 10x10 deck and a double stall attached garage. More information and photos available soon!
List Price: 165,900
Possession Date: Upon Completion
Legal: Lot 7E, Block 9 of Moriarty Fourth Addition, City of Brookings, County of Brookings, South Dakota
Realtor.COM Type: Residential Single Family
Descriptive Information
Style: Split Foyer
Lot Size: Irregular
Year Built: 2008
Stories: 1
Total SqFt.: 1,100
SqFt ML: 1,100
SqFt. LL: 1,100
SqFt LL Finish: 265
Total Finished SqFt: 1365 approximate
Taxes: 0
Tax Year: 2007
Garage Type: Attached
Garage Stall: 2
Garage Remarks: 22X24 Opener: Included
Total Bedrooms: 2
Total Bathrooms: 1
Total Full Baths: 1
For more information or to schedule a viewing of this property please call me, Justin Fjeldos, at (605) 691-1240 or email Justin@BrookingsHomes.com
This property is listed by David Kneip of Best Choice Real Estate, Brookings, SD.
Thursday, January 3, 2008
Daily Real Estate News | January 3, 2008
Christmas Holiday Slows Mortgage Business
The mortgage business was slow over the Christmas holiday week, even compared with the previous year, according to the Mortgage Bankers Association weekly mortgage applications survey.
The mortgage volume index decreased 11.6 percent to 533.9 on a seasonally adjusted basis compared to the previous week. It was down 20 percent compared with the same week a year ago.
The refinance share of mortgage activity decreased to 50.9 percent of total applications from 53.0 percent the previous week.
Also, mortgage rates were down:
30-year fixed-rate mortgages decreased to 6.05 percent from 6.10 percent.
15-year fixed-rate mortgages decreased to 5.61 percent from 5.66 percent.
1-year ARMs decreased to 6.00 percent from 6.03 percent.
Source: Mortgage Bankers Association (01/03/2007)
The mortgage business was slow over the Christmas holiday week, even compared with the previous year, according to the Mortgage Bankers Association weekly mortgage applications survey.
The mortgage volume index decreased 11.6 percent to 533.9 on a seasonally adjusted basis compared to the previous week. It was down 20 percent compared with the same week a year ago.
The refinance share of mortgage activity decreased to 50.9 percent of total applications from 53.0 percent the previous week.
Also, mortgage rates were down:
30-year fixed-rate mortgages decreased to 6.05 percent from 6.10 percent.
15-year fixed-rate mortgages decreased to 5.61 percent from 5.66 percent.
1-year ARMs decreased to 6.00 percent from 6.03 percent.
Source: Mortgage Bankers Association (01/03/2007)
!!!SOLD!!! Affordable New Construction for Sale in Brookings, SD
1802 Torrey Pines Dr, Brookings, SD 57006List #08-53
!!! SOLD!!!
Brookings, SD Real Estate
Brookings, SD Real Estate for Sale
Brookings, SD Real Estate for Sale
List Price: $149,900
Why pay rent when you could afford to own a brand new home! Torrey Pines Drive is currently under construction and will feature quality homes starting at a base price of $149,900. Each home features a split foyer floor plan with 2 bedrooms and 1 bath on the main level. The lower level features a finished family room and space for the future finish of 2 more bedrooms and a bathroom! ACT NOW!
List Price: $149,900
Possession Date: TBD
Legal: Lot 8A, Block 9, Moriarty Fourth Addition, City of Brookings, County of Brookings, South Dakota
Realtor.COM Type: Residential Single Family
Descriptive Information
Area: Residential
Style: Split Foyer
Year Built: 2008
Stories: 1
Total SqFt.: 980
SqFt ML: 980
SqFt. LL: 980
SqFt LL Finish: 248
Total Finished SqFt: 1228 (approximately)
Taxes: 0
Tax Year: 2007
Garage Type: Attached
Garage Stall: 2
Garage Remarks: Opener Included
Total Bedrooms: 2
Total Bathrooms: 1
Total Full Baths: 1
Directions
Travel south on 17th Avenue S. Go past the 17th Ave S. & 12th St. S. intersection. Torrey Pines Dr. will be the first street on the East (left hand side) of the road.
For more information or to schedule a viewing of this property please call me, Justin Fjeldos, at (605) 691-1240 or email Justin@BrookingsHomes.com
This property is listed by David Kneip of Best Choice Real Estate, Brookings, SD.
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