NWWaterfrontRealEstate.com :: Northwest Waterfront

Home > September 2010 > Newsletter

Courtesy Of:

Your Name Here

September 2010
Real Estate Update

Rates Hit All Time Low

In Freddie Mac's results of its Primary Mortgage Market Survey the 30-year fixed-rate mortgage averaged 4.36 percent for the week ending August 26, 2010 - down from the previous week when it averaged 4.42 percent.Last year at this time, the 30-year fixed-rate mortgage averaged 5.14 percent.
Existing home sales fell 27% in July, which led to some market concerns that the housing market

Mortgage Rates

Source: Realty Times

U.S. averages as of August 26, 2010:

30 yr. fixed:   4.36%
15 yr. fixed:   3.86%
1 yr. adj:        3.52%

may slow the economic recovery. As a result, fixed rate mortgage rates eased to new record lows this week.

Contingent Offers
Regaining Popularity

Offers contingent on buyers' ability to sell their current residence are increasing in popularity. They were almost unheard of during the early 2000s, but common 20 years before that.Sellers generally don't like these kinds of offers because it puts them in limbo. If their buyers' home doesn't sell, they can be back at square one. Also, once sellers accept a contingent sale offer, they must disclose this to other potential buyers, and that can discourage a buyer prepared to make a better offer.Sellers who accept contingent-sale offers can include an escape clause in the contract. This clause allows the sellers to notify the contingent-sale buyers of a competing offer and they must remove the contingency in 72 hours (on average) or lose the home.

Buying Is a Good Investment, If You
Choose Right

   Pessimists are implying that the housing market will never get any better and housing will always be a lousy investment.
    Are they right? Of course not, say experts at the Motley Fool finance Web site.
    In fact, the Fools predict that pretty soon housing will be a great investment because prices will have fallen to the point where homes are cheap.
    Then as now, the Fools say the key to buying a home that is a good deal will be:

Location

Don't overpay

Buy what you can afford
If the price goes up, great, the Fools say. If not, buyers will be OK because they have picked a great place to live.

Green Living: Recycled Glass Is In

    Consumers wanting a beautiful-looking home while also doing their part to protect the environment have myriad options for decorating their kitchen. And those looking to replace or install their counter tops should know, marble and granite are out and recycled glass is in.
    Marble looks great, especially in the hands of master sculptors, but it is a limited resource. If you are looking to build or remodel your kitchen, check out recycled glass instead.Recycled glass surfaces look good, are unique, and come in many different colors and styles. They also last just as long as marble and granite.
    Vetrazzo, a company making glass surfaces since 1996, is located in Richmond, California, and has had its counter tops showcased in the Ritz Carlton hotel in Miami south beach and on the nationally televised program "Living with Ed."
    Vetrazzo uses discarded glass from sources such as decommissioned traffic lights, windshields, used bottles and plate glass windows to create their surfaces. Eighty-five percent of their surfaces are made of glass, and 100 percent of that glass is recycled. According to Vetrazzo, their product is comparable to granite and marble in scratch resistance, heat resistance and stain resistance.

NWWaterFrontRealEstate.com all rights reserved :: Austin Web Development :: Also see Hamilton MT Homes
The foregoing material was abstracted from another source and does not contain all of the information available
at the source site. Please request further information when considering this property. No licensee shall be responsible for errors or
misrepresentations of others, who reproduce or further disseminate the information concerning the licensee's listings.