FSBO BLOG

Testimonials keep coming in for FSBO.com

Mike, FSBO.com — Mon, 06 Feb 2012 15:45:24 +0000

We treat our customers just as we would want to be treated and testimonials for our service keep coming in. To view the lastest: fsbo.com/Sellers/Testimonials.aspx

Foreclosed sales declined at end of the year

Mike, FSBO.com — Thu, 26 Jan 2012 14:43:39 +0000

Foreclosures comprised 20% of all U.S. residential sales compared to 30% in 2010. This compares to 5% of all sales prior to 2007. The main reason, less foreclosed properties on the market. This will change by the end of 2012

Why pay $950 rent, when you can buy for $550

Mike, FSBO.com — Tue, 24 Jan 2012 16:24:36 +0000

FHA today at 4% interest, 3.5% down and credit score 640 or higher. Why rent that $100,000 house for $950 per month, when mortgage payment, tax and insurance is $550 per month. Plus you write off the interest and save on income taxes. Don’t be upset the rich guys try to lower their income tax, this one is for you.

Inventories drop, here’s your window

Mike, FSBO.com — Sat, 21 Jan 2012 16:13:53 +0000

The number of properties on the market has dropped to 2.38 million, the fewest since March 2005. At the current sales pace, it would take 6.2 months to sell those houses, down from 7.2 months at the end of November. A pickup in sales and a drop in foreclosures has helped. With over 5 million properties either in foreclosure or with delinquent mortgages, many more properties will come on the market later this year. Right now is a window of opportunity to sell while fewer homes are for sale and coming into the spring buying season. Not to mention mortgage rates are still low.

Federal Reserve likely to start QE-3 very soon

Mike, FSBO.com — Fri, 20 Jan 2012 13:14:04 +0000

After releasing their minutes of the Federal Reserve Open Market Committee meeting from November, more quantitative easing is projected by buying up to one trillion dollars of mortgages. This would keep mortgage companies very liquid and able to make more mortgage loans. In the past, from lack of confidence, these mortgage companies/banks just used the money to buy more treasury bills and tightened their mortgage standards. Hopefully this time around, with the economy starting to stabilize they in fact start making mortgage loans again. This is just what the housing market needs.

Housing market waiting for 20-34 yr olds

Mike, FSBO.com — Thu, 19 Jan 2012 12:26:50 +0000

Since 2004, when homeownership rates peaked, the population of 20-34-year-olds grew by 2.8 million, according to researchers at CoStar Group, a commercial real estate information company. But the number of households shrunk by 300,000. In other words, younger Americans were doubling up with roommates or moving back in with their parents.

Financing a car is easier then a house

Mike, FSBO.com — Wed, 18 Jan 2012 22:03:29 +0000

The average age of passenger cars on the road is now at 11.1 years old, the highest on record according to to R.L. Polk & Co., an automotive market research firm. There is pent up demand for the next two years to buy new cars. But wait, if I buy a new car and finance it, that payment reduces how much I can qualify for a new mortgage. You should buy the house first, get a mortgage, then go out and buy the new car.

Read more here: http://www.newsobserver.com/2012/01/17/1785358/average-age-of-cars-on-us-roads.html#storylink=cpy

Mortgage debt remains constant

Mike, FSBO.com — Tue, 17 Jan 2012 12:27:43 +0000

At the end of the year, the national average of mortgage debt was $173,876 per person, very close to past year levels. Californians had the most mortgage debt: an average of $313,749. West Virginia residents had the lowest level: $104,279. With refinancing at lower rates, most are paying much less per month.

Confidence keeps building in the US

Mike, FSBO.com — Fri, 13 Jan 2012 16:14:04 +0000

Consumer sentiment in January hit the highest level since May, with both current and future economic conditions seen as improving, according to data released Friday by the University of Michigan and Thomson Reuters. The consumer-sentiment index reached 74 in the preliminary reading for January, compared with 69.9 in December.

Foreclosures Hit 4-Year Low in 2011

Mike, FSBO.com — Thu, 12 Jan 2012 10:57:51 +0000

Foreclosure filings slid by 34 percent in 2011, the lowest level since 2007, according to RealtyTrac. The main reason was the length of time for the foreclosure process, which averaged 348 days to move through the process, up from 336 days in the third quarter and 305 days in the fourth quarter of 2010.