“Stop Discouraging Home Ownership"
They can spin the numbers to look any way they want. It continues to amaze me, how the press continues to say that real estate values are continuing to fall.
I wish they would stay out of the real estate business. I don’t think they understand, they are part of the problem.
I am asked each and every day by first time home buyers that want to get preapproved for a mortgage.
Here is what I ask anyone and everyone that asks:
Are you going to buy a home to resell in the near future or are you buying the home to live in for the foreseeable future?
How does the estimated mortgage payment compare to your rent?
Once they answer these questions, there aren’t many more about, should we buy now.
FHFA Sees Signs of Life in Housing Values
By: Brian Collins
Home prices rose in 27 states during the fourth quarter as home values increased on GSE-related transactions during the final two months of 2011.
The Federal Housing Finance Agency reported that its home price index registered a 0.7% increase in December following a similar 0.7% gain in November.
Overall, the seasonally adjusted price index is down just 0.8% from December 2010.
On a quarterly basis, prices are down 2.4% from 4Q 2010.
"When coupled with the fact that about half of the states saw price increases in the latest quarter, this growth adds to mounting evidence that real estate markets are seeing at least some signs of life,” said FHFA principal economist Andrew Leventis.
When data involving REO sales financed with GSE loans is factored into the HPI, the FHFA report shows prices fell 2.9% in Q4 2011 from the year ago period.
image 1: stuart miles/freedigitalphotos.net
image 2: salvatore vuone/freedigitalphotos.net
Joe Petrowsky, NMLS #6869
Right Trac Financial Group, Inc. NMLS #2709
110 Main St.
Manchester, Ct. 06042
Office: 860 647-7701 x116
Fax: 860 647-8940
Cell: 860 836-9294
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