Homes | Farms | Land | Estates | Seasonal Rentals | Commercial
Lakeville | Salisbury | Sharon | Cornwall | Falls Village | Norfolk | North Canaan
and other towns in Connecticut, New York and Massachusetts
WILL THE MARKET BREAK OUT?
09.18.08
The Feds "rescue" of Fannie Mae and Freddie Mack on the 8th was interesting news from a number of fronts, especially as interest rates took a "dive" of around 1/2 point within hours of its occurrence. By the time you read this, perhaps an additional decrease of rates will have occurred, possibly bringing them towards the 5.75%. We shall see.
It hopefully will probably spark a "blaze" of activity on the refinancing front and maybe will push some people into (finally) purchasing.
First, anyone who is holding a VRM (variable rate mortgage) should look into converting it into a fixed rate mortgage right away, before any upward swing returns, and it will, I think.
Second, people who have been looking at all the real estate available for sale may decide it is a GREAT time to buy. With lower interest rates, and prices that have been declining across many lines of property for the past 6 months or so, it is!. If buyers start buying, thereby "snapping" up the price-lowered offerings, it may begin a rebound of sorts within the industry.
A second area of good news for homeowners is that oil prices were hovering between $102 and $104 per barrel on September 11th. It should help us on the heating front, if it continues either at this price level, or continues downward as some expect. However countering news of an oil glut, was the latest Farmer's Almanac edition, out last week, which is forecasting a colder than normal winter this year, in the Northeast. This may blunt the current downward trend of oil if this forecast is correct. So too may the politics of oil, at OPEC. More fodder for the speculators!
08.26.10 OIL REVISITED
Some of our heating oil vendors have been holding off on setting Contract pricing for heating oil prices, hoping the barrel price would be coming down.
08.19.10 QUIET AS A COFFIN?
The above was the description of the activity (on his home) given to me by a home owner with a house for sale in Stamford, CT.
07.29.10 THE PROBLEM WITH GREEN: AESTHETICS
The question of aesthetics may come into focus if building green becomes the norm for future homes.
07.22.10 WEATHER TURBULENCE REIGNS
Storms have been playing havoc causing power interruptions, fallen trees, and broken branches around the NW corner.
07.15.10 FANS AND LAWNS
The lack of rain made many lawns turn brown. They are not really dead in most cases, despite their appearance.
07.08.10 PRICE CONCESSIONS - MOVING REAL ESTATE
Seller price concessions, if and when 'blessed' with an offer, are helping move most of the sales currently in contract, or recently closed, for homes in this price grouping.
07.01.10 HOT WEATHER COOLING TIPS
With the arrival of hot, sticky weather arriving in our NW corner, cooling tips are in order for those not lucky enough to have air-conditioning, either centrally installed, or from window units.
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