El Presidente said Wednesday that our economy is thriving and that he is doing what it takes to keep it strong.
Home sales will continue to fall further this year than earlier expected, but prices will drop less sharply than previously thought. However, a small up turn for existing home sales toward the end of the year is expected.
The national median sales price for existing homes should ease to $219,300 and the median new-home price will probably fall to $240,800 this year.
On the other hand, mortgage applications rose as interest rates fell sharply and demand surged. The Mortgage Bankers Association said mortgage applications rose to their highest level since early June.
Prospective homeowners will face tougher lending standards in a future not to far from now. 680 will be the magic number.
These are great news Mr. Buyer. Are you ready to buy? Remember, many of today’s foreclosures chose to buy without a Realtor®. Hire a Realtor® is free of charge.
Jorge Nuñez Realtor®
ERA Davis and Linn
1 904 945 2144
Please visit my web site: www.housesapartmentsandcondos.com