Sunday, August 26, 2007
Monday, August 20, 2007
Real Estate Rates Drop Overnight
Real Estate Articles from Inman News
30-year fixed rate at 6.24%; 10-year Treasury yield at 4.68%
Monday, August 20, 2007Inman News
Long-term mortgage interest rates came down Friday, and the benchmark 10-year Treasury bond yield rose to 4.68 percent.
The 30-year fixed-rate average fell to 6.24 percent, and the 15-year fixed rate sank to 5.89 percent. The 1-year adjustable dipped to 5.61 percent.
The 30-year Treasury bond yield increased to 4.99 percent.
Rates and bonds are current as of 7:15 p.m. Eastern Standard Time.
Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.
In other economic news, the Dow Jones Industrial Average jumped 233.3 points, or 1.82 percent, finishing at 13,079.08. The Nasdaq gained 53.96 points, or 2.2 percent, closing at 2,505.03.
Stock figures are current as of 7:30 p.m. Eastern Standard Time.
30-year fixed rate at 6.24%; 10-year Treasury yield at 4.68%
Monday, August 20, 2007Inman News
Long-term mortgage interest rates came down Friday, and the benchmark 10-year Treasury bond yield rose to 4.68 percent.
The 30-year fixed-rate average fell to 6.24 percent, and the 15-year fixed rate sank to 5.89 percent. The 1-year adjustable dipped to 5.61 percent.
The 30-year Treasury bond yield increased to 4.99 percent.
Rates and bonds are current as of 7:15 p.m. Eastern Standard Time.
Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.
In other economic news, the Dow Jones Industrial Average jumped 233.3 points, or 1.82 percent, finishing at 13,079.08. The Nasdaq gained 53.96 points, or 2.2 percent, closing at 2,505.03.
Stock figures are current as of 7:30 p.m. Eastern Standard Time.
Online Marketing Boosts Real Estate Sales
Written by Administrator
Sales of real estate properties can be greatly influenced by how well you are able to market your services or your real estate properties. The success of any business can sometimes depend on its marketing strategy, which is why being able to market your services or real estate properties in a number of ways can be greatly beneficial. Since our younger generations today have technologically matured, online marketing is beginning to be one of the best marketing strategies that any person or business can do. This helps you or your business reach out to people that constantly uses the internet, which is very common for people to do nowadays. You can bet that if you, or any other business, has not yet tried online marketing as a marketing strategy for selling real estate properties, those who have are more likely to be more successful in attracting prospective clients and buyers.
Online marketing is one of the best marketing strategies to make since, for one, it is a long term investment. If you advertise or market real estate properties through the internet, the information that you post online about the real estate properties will remain in the Web, unlike when you use newspapers for advertisements or for marketing strategies.
Newspapers are usually thrown in the trash on the very same day that people get them, which is not very beneficial to any person or company who wishes to market or advertise their real estate property since the information that they put in the newspaper about the real estate property is only good for one day, unless they decided to post it again on other issues of the newspaper, which will be very expensive later on. When you use online marketing, however, the information that you put in the internet is not a short term investment since the information will remain in the Web for a long period of time, giving you a good chance of getting the real estate properties that you are selling some exposure time.
If you want to be able to maximize your real estate sales through the use of online marketing, you must need to be able to optimize your search engine results to put you in a better position to attract more potential clients and buyers into your real estate website.
Basically, optimizing your real estate search engine results dictates that you must be able to use appropriate keywords that will help attract qualified prospects into your real estate business. Find the best titles, descriptions and keywords that you believe will appeal to a lot of potential real estate buyers, so that when they do try to search for information about real estate in the internet, your business will be within the top ten results. This can greatly improve the traffic that your website will be able to generate.
If a lot of people are directed into your website, there is a good chance that if they find something they are looking for in your website, they would not be looking at some other place, which is why it is important to rank high in search engine results.
A lot of real estate agents spend over thousands of dollars on advertising and marketing, but they fail to realize that they do not need to since one of the best marketing strategies in real estate nowadays, which is online marketing, is one of the most effective, and also the most cost efficient.
Vanessa Arellano Doctor 7SEO SEO Company
Sales of real estate properties can be greatly influenced by how well you are able to market your services or your real estate properties. The success of any business can sometimes depend on its marketing strategy, which is why being able to market your services or real estate properties in a number of ways can be greatly beneficial. Since our younger generations today have technologically matured, online marketing is beginning to be one of the best marketing strategies that any person or business can do. This helps you or your business reach out to people that constantly uses the internet, which is very common for people to do nowadays. You can bet that if you, or any other business, has not yet tried online marketing as a marketing strategy for selling real estate properties, those who have are more likely to be more successful in attracting prospective clients and buyers.
Online marketing is one of the best marketing strategies to make since, for one, it is a long term investment. If you advertise or market real estate properties through the internet, the information that you post online about the real estate properties will remain in the Web, unlike when you use newspapers for advertisements or for marketing strategies.
Newspapers are usually thrown in the trash on the very same day that people get them, which is not very beneficial to any person or company who wishes to market or advertise their real estate property since the information that they put in the newspaper about the real estate property is only good for one day, unless they decided to post it again on other issues of the newspaper, which will be very expensive later on. When you use online marketing, however, the information that you put in the internet is not a short term investment since the information will remain in the Web for a long period of time, giving you a good chance of getting the real estate properties that you are selling some exposure time.
If you want to be able to maximize your real estate sales through the use of online marketing, you must need to be able to optimize your search engine results to put you in a better position to attract more potential clients and buyers into your real estate website.
Basically, optimizing your real estate search engine results dictates that you must be able to use appropriate keywords that will help attract qualified prospects into your real estate business. Find the best titles, descriptions and keywords that you believe will appeal to a lot of potential real estate buyers, so that when they do try to search for information about real estate in the internet, your business will be within the top ten results. This can greatly improve the traffic that your website will be able to generate.
If a lot of people are directed into your website, there is a good chance that if they find something they are looking for in your website, they would not be looking at some other place, which is why it is important to rank high in search engine results.
A lot of real estate agents spend over thousands of dollars on advertising and marketing, but they fail to realize that they do not need to since one of the best marketing strategies in real estate nowadays, which is online marketing, is one of the most effective, and also the most cost efficient.
Vanessa Arellano Doctor 7SEO SEO Company
Sunday, August 19, 2007
Real Estate Refuge--State Housing Market Safer than Most
West Virginia Gazette
By Joe MorrisStaff writer
As with twisters and hurricanes, West Virginia appears to be sheltered from the eye of the storm buffeting the nation’s mortgage markets, but that doesn’t mean it won’t get rained on.
Mortgage banks have been cutting back drastically on lending amid a rise in defaults on risky loans and an exodus of investors from the credit markets. The Dow Jones Industrial Average fell more than 1 percent for the week, dragged down by the stocks of banks, homebuilders and other companies connected to the mortgage industry.
There are, of course, plenty of banks and homebuilders in West Virginia, but they haven’t been basking in the mortgage boom of the past decade as much as states like Florida and California, and therefore they won’t come crashing down as hard, says state Banking Commissioner Larry Stark.
“Where the increases have been large, the correction will be large,” says Stark. “We haven’t seen the large increase in housing prices as in more frothy markets, with perhaps the exception of the Eastern Panhandle, so there’s less to correct [here] than in other states.”
Area home prices do remain far below the national average.
According to the National Association of Realtors, the median price in the Charleston metro area between April and June was $127,600, compared to $223,800 nationwide. And Charleston prices are rising, up 10.8 percent from the first three months of the year, while nationwide prices are falling, the Realtors research shows.
Sales are down here, but they’re down almost everywhere.
About 30,400 homes were sold in the state in the April-to-June period, down 13.6 percent from a year earlier, according to the Realtors. Nationwide, 10.7 percent fewer houses were sold, while in Florida the decrease was 41.3 percent and in California 19.8 percent.
“All these things happening in the market ... will have a direct and indirect effect on the West Virginia consumer because West Virginia is a part of the national market in financial terms,” Stark said. “There will be a definite ripple effect.”
For one thing, credit is a lot scarcer.
“There’s less money available to borrow, which will percolate down to the state,” Stark said. “Since there’s far less liquidity in the market to support the investment in mortgage loans, the ultimate outcome is simply that there will be fewer loans made, comparatively speaking.”
That’s already happening.
“The underwriting criteria is tightening across the board,” says Larry O’Dell, a broker with Mortgage Net, a Charleston mortgage brokerage. “They’re asking for more documentation, looking at debt ratings — it’s more difficult to get [loan requests] out of underwriting than it was two weeks ago.”
O’Dell said it’s especially hard to get approval for “subprime” borrowers, the weak-credit lending demographic responsible for many of the recent defaults.
“Very, very few subprime loans are being made now,” he said. “People in subprime are finding they can’t get the loan they would have gotten a month ago.”
Hurricane broker Lori Harless of Carteret Mortgage Corp. said her underwriter affiliates also are spending more time reviewing applications, but she sees the extra scrutiny as healthy.
“They’re taking a little closer look, they’re going to make smarter decisions,” she said. “This will be a great cleansing process we’re going through; you’re going to see more borrower education.”
The changes affecting the mortgage industry were unsettling at first, Harless said. “We [at Carteret] were getting e-mails every day from the home office about lenders closing their doors,” she said. “It was very scary.”
(Most of the lenders going bankrupt specialized in making subprime loans, and none were outlets that Harless worked with, she said.)
“In any industry you have bad eggs,” she said. “Ultimately, this could keep rates down, because you’ll have fewer foreclosures, fewer defaults, the lenders will be more profitable.”
That’s her long-term view, she
said. In the short term, she said, look for the government to keep rates down. On Friday, the Federal Reserve Bank did just that, approving a half-percentage point cut in its discount rate on loans to banks. The news buoyed stock markets in the United States and Europe.
As for the bad eggs, state regulators aren’t leaving it up to the market to clean things up.
Stark joined with dozens of other states’ regulators this week in adopting a series of recommendations for “nondepository” mortgage lenders and brokers, or those that aren’t housed in a traditional bank.
Such lenders now originate most of the loans made in West Virginia, whereas 30 years ago the field was dominated by banks and savings and loans. That has contributed to defaults because often nondepository originators will sell off, or “securitize,” the loans with little concern for whether or not the borrower can eventually pay off the debt. Traditional banks, conversely, have been more likely to function as originators as well as underwriters.
“Thirty years ago, when the vast majority of loans were being originated by the financial entity, that was also the same entity that held the loan, so clearly there was a strong financial incentive to make sure the underwriting was proper,” Stark said. “When you’re the underwriter, you had a direct stake to make sure these loans would be repaid.”
The new guidance is designed to get lenders to consider more than merely origination volume by taking extra steps to ensure that borrowers have the ability to repay and that they fully understand the risks they’re assuming. Lender and broker management, meanwhile, should put new policies in place to alert them to risks on the horizon, the guidance also says.
Though the guidelines aren’t enforceable as regulations, Stark said, they will carry considerable weight because so many regulators stand behind them.
“I’m confident that, collectively, with the other states, it [the guidance] becomes a standard and therefore inserts itself into new regulatory view of compliance by these players over a period of time,” he said.
By Joe MorrisStaff writer
As with twisters and hurricanes, West Virginia appears to be sheltered from the eye of the storm buffeting the nation’s mortgage markets, but that doesn’t mean it won’t get rained on.
Mortgage banks have been cutting back drastically on lending amid a rise in defaults on risky loans and an exodus of investors from the credit markets. The Dow Jones Industrial Average fell more than 1 percent for the week, dragged down by the stocks of banks, homebuilders and other companies connected to the mortgage industry.
There are, of course, plenty of banks and homebuilders in West Virginia, but they haven’t been basking in the mortgage boom of the past decade as much as states like Florida and California, and therefore they won’t come crashing down as hard, says state Banking Commissioner Larry Stark.
“Where the increases have been large, the correction will be large,” says Stark. “We haven’t seen the large increase in housing prices as in more frothy markets, with perhaps the exception of the Eastern Panhandle, so there’s less to correct [here] than in other states.”
Area home prices do remain far below the national average.
According to the National Association of Realtors, the median price in the Charleston metro area between April and June was $127,600, compared to $223,800 nationwide. And Charleston prices are rising, up 10.8 percent from the first three months of the year, while nationwide prices are falling, the Realtors research shows.
Sales are down here, but they’re down almost everywhere.
About 30,400 homes were sold in the state in the April-to-June period, down 13.6 percent from a year earlier, according to the Realtors. Nationwide, 10.7 percent fewer houses were sold, while in Florida the decrease was 41.3 percent and in California 19.8 percent.
“All these things happening in the market ... will have a direct and indirect effect on the West Virginia consumer because West Virginia is a part of the national market in financial terms,” Stark said. “There will be a definite ripple effect.”
For one thing, credit is a lot scarcer.
“There’s less money available to borrow, which will percolate down to the state,” Stark said. “Since there’s far less liquidity in the market to support the investment in mortgage loans, the ultimate outcome is simply that there will be fewer loans made, comparatively speaking.”
That’s already happening.
“The underwriting criteria is tightening across the board,” says Larry O’Dell, a broker with Mortgage Net, a Charleston mortgage brokerage. “They’re asking for more documentation, looking at debt ratings — it’s more difficult to get [loan requests] out of underwriting than it was two weeks ago.”
O’Dell said it’s especially hard to get approval for “subprime” borrowers, the weak-credit lending demographic responsible for many of the recent defaults.
“Very, very few subprime loans are being made now,” he said. “People in subprime are finding they can’t get the loan they would have gotten a month ago.”
Hurricane broker Lori Harless of Carteret Mortgage Corp. said her underwriter affiliates also are spending more time reviewing applications, but she sees the extra scrutiny as healthy.
“They’re taking a little closer look, they’re going to make smarter decisions,” she said. “This will be a great cleansing process we’re going through; you’re going to see more borrower education.”
The changes affecting the mortgage industry were unsettling at first, Harless said. “We [at Carteret] were getting e-mails every day from the home office about lenders closing their doors,” she said. “It was very scary.”
(Most of the lenders going bankrupt specialized in making subprime loans, and none were outlets that Harless worked with, she said.)
“In any industry you have bad eggs,” she said. “Ultimately, this could keep rates down, because you’ll have fewer foreclosures, fewer defaults, the lenders will be more profitable.”
That’s her long-term view, she
said. In the short term, she said, look for the government to keep rates down. On Friday, the Federal Reserve Bank did just that, approving a half-percentage point cut in its discount rate on loans to banks. The news buoyed stock markets in the United States and Europe.
As for the bad eggs, state regulators aren’t leaving it up to the market to clean things up.
Stark joined with dozens of other states’ regulators this week in adopting a series of recommendations for “nondepository” mortgage lenders and brokers, or those that aren’t housed in a traditional bank.
Such lenders now originate most of the loans made in West Virginia, whereas 30 years ago the field was dominated by banks and savings and loans. That has contributed to defaults because often nondepository originators will sell off, or “securitize,” the loans with little concern for whether or not the borrower can eventually pay off the debt. Traditional banks, conversely, have been more likely to function as originators as well as underwriters.
“Thirty years ago, when the vast majority of loans were being originated by the financial entity, that was also the same entity that held the loan, so clearly there was a strong financial incentive to make sure the underwriting was proper,” Stark said. “When you’re the underwriter, you had a direct stake to make sure these loans would be repaid.”
The new guidance is designed to get lenders to consider more than merely origination volume by taking extra steps to ensure that borrowers have the ability to repay and that they fully understand the risks they’re assuming. Lender and broker management, meanwhile, should put new policies in place to alert them to risks on the horizon, the guidance also says.
Though the guidelines aren’t enforceable as regulations, Stark said, they will carry considerable weight because so many regulators stand behind them.
“I’m confident that, collectively, with the other states, it [the guidance] becomes a standard and therefore inserts itself into new regulatory view of compliance by these players over a period of time,” he said.
Thursday, August 16, 2007
Suncrest Heights- Morgantown West Virginia
West Run Holdings, a subsidiary of The Meridian Organization, is pleased to announce the development of our newest community Suncrest Heights located in Morgantown West Virginia. Suncrest Heights is conveniently located off of Airport Boulevard and the Mile Ground. Within 1 mile of Mon General Hospital, Ruby Memorial Hospital, NIOSH and Mylan Pharmacueticals , Suncrest Heights is poised to be the next best place to live.
Our conceptual plan is almost complete and we are anticipating construction to begin within the next 6 months. We will make our plans available to you as soon as they are finalized.
We will be taking reservations on new homesites shortly. Anticipations are high and Morgantown is eager to see the development of Suncrest Heights. Give us a call today for more information. 304-291-4600
New Homes For Sale- Morgantown West Virginia
We are pleased to announce that Mountain Crest Construction will begin construction on two beautiful new homes this fall in Canyon Creek Falls. Canyon Creek Falls, located in Morgantown West Virginia, is conveinently located within 2 miles of the new Univeristy high schools Both homes will be 3 bedroom and affordably priced. Choose from a spacious 1386 square foot two story home or sprawling 1200 square foot split entry. Both of these homes are situated on a 1/4 acre homesite.
We invite you to stop by our Sales Center located onsite to veiw the floor plans of these homes. Its not too late to choose your own colors and give these homes your personal touch. We look forward to seeing you.
We invite you to stop by our Sales Center located onsite to veiw the floor plans of these homes. Its not too late to choose your own colors and give these homes your personal touch. We look forward to seeing you.
Canyon Creek Acres-Morgantown West Virginia
Canyon Creek Acres is the perfect place to call home. If you enjoy the outdoors and are looking for some privacy in Morgantown West Virginia, then you need to see Canyon Creek Acres. Build your new house on one of 6 homesites ranging from 10 - 20 acres. Suround yourself with all the peace and serenity West Virginia has to offer.
Canyon Creek Acres is located directly behind Canyon Creek Falls. This community offers electricity, telephone, cable and a waterfall. We invite you to go on a tour with us! These homesites will move fast so give us a call today!
304-291-4600
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