The average interest rate on conventional, 30-year fixed-rate mortgage loans of $417,000 or less decreased 12 basis points to 4.58 percent in September. Washington, DC– October 28, 2010 – The Federal Housing Finance Agency today reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as […]
China’s failure to cooperate with the CPSC on drywall demonstrates how little recourse U.S. consumers have when they buy defective products imported from abroad. Palm Coast, FL – October 27, 2010 – A federal investigation into contaminated Chinese-made drywall has been a long, hard tug-of-war for U.S. investigators trying to pry information from Chinese government […]
Weekly analysis of the economic data released during the past week, and how current economic conditions are affecting the real estate market. Palm Coast, FL – October 25, 2010 – The National Association of Realtors® (NAR) Research staff gives a weekly analysis of the economic data released during the past week, and how current economic conditions are […]
Sales of existing condominiums in Florida rose 10 percent in September, with a total of 5,675 condos sold statewide compared to 5,140 units sold in September 2009. ORLANDO, Fla. – October 25, 2010 – Sales of existing condominiums in Florida rose 10 percent in September, with a total of 5,675 condos sold statewide compared to […]
Buyer reportedly backed out after discovering $4.2 million membership deposit obligations. Palm Coast, FL – October 23, 2010 – Grand Haven Golf Club, a Crescent Resources property in Palm Coast, FL went under a purchase contract four weeks ago. The deal was close to closing. A survey was begun. But now the deal is dead. […]
Net income of $1,021,232 during the 9 month period ending September 30, 2010 Palm Coast, FL – October 23, 2010 – Intracoastal Bank yesterday announced that the Bank recorded a net income of $1,021,232 during the 9 month period ending September 30, 2010. During the first 9 months, total assets increased by $21,492,556 to $106,982,994 at […]
Predicting the future of the real estate market is not easy. Palm Coast, FL – October 22, 2010 – In a question and answer session at the annual Charles Schwab Impact conference in Washington on November 6, 2006 Alan Greenspan, former Federal Reserve Chairman said "The economy is obviously going through a significant slowing period, […]
SmartMoney calls these locales ”doppelgangers” — more affordable twins with similar climate, culture, and amenities than their better-known other half. St. Augustine subs for Sarasota. Palm Coast, FL – October 22, 2010 – A SmartMoney posting tagged "The New Best Places to Retire" ranks St. Augustine number three. Even with their retirement nest eggs diminished […]
No light at the end of the tunnel? Just how important is your credit score? Palm Coast, FL – October 21, 2010 – Never before in our lifetime have home values dropped so precipitously. Many homeowners are upside down with no good options. Bankruptcy, short sale, deed in lieu, and foreclosure all carry a stigma. […]
There’s a simple reason why lenders, loan servicing companies, and foreclosure-mill law firms are taking illegal shortcuts dealing with foreclosures. The process of handling defaulted loans has never Palm Coast, FL – October 20, 2010 – There’s a simple reason why lenders, loan servicing companies, and foreclosure-mill law firms are taking illegal shortcuts dealing with […]