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February 7th, 2009 3:33 AM
It is cold now but the "Spring Market" is here.  Spring has always been the best time to buy or sell a house.  We can only hope this Spring will be a brighter spot for the housing market.  Many buyers are still on the fence, and who can blame them?  The economic news is still dreary. My crystal ball is only so good, but look for continued negative price pressures and increasing foreclosure levels to further negatively impact the local housing market.   

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Posted by Steve Manderfield on February 7th, 2009 3:33 AMLeave a Comment

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July 4th, 2008 11:16 AM

The spring market is over and one bright spot for both buyers and sellers is the resurgence of the FHA loan program.  These loans offer borrowers a chance to buy a house with only 3% down.

The return of FHA loans has provided some much needed liquidity to the huge number of existing homes on the market.  We still have a way to go, but some houses did sell and many buyers were able to realize their dreams of a new home.

Drop me a note if you have a question or comment on this or any issue about the housing market.

Take care, Steve


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Posted by Steve Manderfield on July 4th, 2008 11:16 AMLeave a Comment

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November 27th, 2007 12:14 AM

 

It seems we have seen the mortgage crisis take a turn for the worse in the past few days as Bank and Mortgage company stocks have taken it on the chin, again.  Amid all the gloom there are some markets which remain active.  Even a highly distressed area, like Prince William County, have begun to see some sales movement.

The economy, like the real estate market, moves in ripples and waves, the up and down price cycles reflecting the markets daily interpretation of what is going on in the world and in the industry.  The mortgage companies have borne the brunt of the downturn.  Next, I expect to see the private mortgage insurers get hit. 

If you need to talk about an appraisal issue or the real estate market in general, please feel free to contact me.   

 


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Posted by Steve Manderfield on November 27th, 2007 12:14 AMLeave a Comment

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