Frank Wallace Real Estate Blog

08/27/2011

Fousons Listing and Sales Data as of 8/26/11

Filed under: Four Seasons — fwrg @ 4:05 pm
Four Seasons Listing and Sales Data:
Current Listings DATE DOM Sales Price Sq. Ft. $’s/Sq. Ft.
7062 Rushwood Dr 8/19/11 $429,000 2,329 $184.20
7026 Rushwood Dr 8/12/11 $409,500 2,229 $183.72
8728 Snowfall Way 7/17/11 $418,500 2,329 $179.70
Temporilly Off Market
7372 Grassy Creek Way 4/15/11 $315,000 1,932 $163.05
Current Pending Sales
806 Michael Point Ct 8/22/11 $318,000 1,703 $186.73
513 Aspen Grove 8/8/11 $369,000 2,010 $183.59
4785 Monte Mar 6/23/11 $315,000 2,010 $156.72
8740 Snow Fall Way 3/4/11 $415,000 2,612 $158.89
Calendar Year 2011 Closes
8740 Snow Fall Way 8/17/11 $415,000 2,612 $158.89
2004 Tree Leaf Way 8/16/11 $349,000 2,010 $173.64
118 Slate Ridge Ct 8/15/11 $339,000 2,010 $168.66
9242 Forestberry Way 8/11/11 $423,900 2,329 $182.01
1030 Autumn Sky Way 8/11/11 $435,000 2,329 $186.78
7538 Doe Spring Way (Short Sale) 8/8/11 $253,000 1,502 $168.45
4831 Monte Mar Drive 7/12/11 $275,000 1,703 $161.48
4595 Monte Mar Drive 6/30/11 $270,000 1,703 $158.55
7358 Grassy Creek Way 6/22/11 $385,000 $2,229 $172.73
4013 Treeline Way 5/31/11 $354,000 1,932 $183.23
4789 Monte Mar Drive 4/25/11 $315,000 1,703 $184.97
7473 Grassy Creek Way 4/11/11 $449,000 2,329 $192.79
7482 Grassy Creek Way (Foreclosure / REO) 3/11/11 $414,900 2,329 $178.15
7052 Rushwood Drive 1/14/11 $317,500 1,389 $228.59
Calendar Year 2010 Closes
4659 Monte Mar Drive (short sale) 12/15/10 $415,000 2,828 $146.75
9241 Forestberry 11/30/10 $376,000 2,828 $132.96
904 Richard Court 11/23/10 $357,000 2,229 $160.17
7722 Briarberry Way (short sale) 11/10/10 $270,000 1,502 $179.77
4796 Monte Mar Drive (release clause) 11/2/10 $350,000 2,010 $174.13
7737 Briarberry Way (short sale contingent) 10/12010 $320,000 1,932 $165.64
1008 Autumn Sky 9/10/10 $467,500 2,329 $200.73
7396 Grassy Creek Way (bring back-ups) 7/22/10 $390,000 1,703 $229.01
7035 Rushwood Dr (bank owned) 6/30/10 $305,000 1,932 $157.87
118 Slate Ridge Ct 6/7/10 $360,000 2,010 $179.11
7730 Briarberry Way 5/21/10 $305,000 1,389 $219.59
7467 Grassy Creek Way 5/13/10 $489,900 2,612 $187.56
912 Richards Ct 4/7/10 $370,000 1,703 $217.27
4555 Monte Mar Drive 3/23/10 $435,000 2,329 $186.78
2050 Ranch Bluff Way 3/22/10 $428,000 2,828 $151.35
4809 Monte Mar Drive (short sale) 2/12/10 $407,000 2,229 $182.60
1026 Autumn Sky Way 2/5/10 $487,000 2,329 $209.11
Calendar Year 2009 Closes
5013 Covered Bridge 12/8/09 $475,000 2,828 $167.97
4547 Monte Mar Dr (recorded bank transfer) 12/3/09 $357,000 2,828 $126.24
8035 Fallview Way 12/2/09 $367,000 1,389 $264.22
9022 Fallsmont Way 10/28/09 $415,000 2,229 $186.19
7526 Doe Spring Way (bank owned) 10/22/09 $285,000 1,502 $189.75
2005 Ranch Bluff Way 10/1/09 $360,000 1,502 $239.69
8546 Wyndrush Way (not in MLS data) 9/24/09 $457,500 2,329 $196.44
5040 Covered Bridge Way 9/8/09 $367,000 1,389 $264.22
2104 Ranch Bluff Way 7/17/09 $360,000 1,389 $259.18
8744 Snow Fall Way 9/21/09 $465,000 2,329 $199.66
4509 Monte Mar Drive (short sale) 5/29/09 182/133 $425,000 3,245 $130.98
7447 Grassy Creek Way 5/19/09 29/NA $515,000 2,612 $197.17
7016 Rushwood Drive 4/25/09 28/77 $370,000 2,010 $184.08
4828 Monte Mar Drive 4/14/09 87/NA $435,000 2,229 $195.16
4627 Monte Mar Drive 3/23/09 62/189 $440,000 2,828 $155.59
7001 Timber Trail Loop 2/18/09 74/43 $490,000 2,612 $187.60
Calendar Year 2008 Closes
9206 Forestberry Way 10/28/08 28-35/28 $529,000 2,612 $202.53
9029 Fallsmont Drive 10/14/08 168/91 $430,000 2,010 $213.94
4781 Monte Mar 10/10/08 94-31/214 $420,000 1,932 $217.40
4012 Treeline Way 10/7/08 121/385 $420,000 2,010 $208.96
4016 Treeline Way 9/16/08 59/178 $435,000 2,229 $195.16
7036 Timber Trail Loop 9/8/08 116/NA $495,000 2,329 $212.54
513 Aspen Grove Court 8/31/08 24-23/NA $455,000 2,010 $226.37
5021 Covered Bridge Way 8/15/08 258/264 $600,000 3,245 $184.90
6035 Creekberry Way 5/7/08 18-18/NA $485,000 2,010 $241.30
8740 Snow Fall Way 4/30/08 200/161 $526,000 2,612 $201.38
7396 Grassy Creek Way 4/25/08 24-26/NA $373,466 1,703 $219.30
135 Slate Ridge Court 2/28/08 21-21/91 $525,000 2,329 $225.42
2093 Ranch Bluff Way 1/24/08 104-140/NA $499,000 2,010 $248.26
3193 Four Seasons Drive 1/16/08 29/49 $525,000 2,329 $225.42
Calendar Year 2007 Closes
3193 Four Seasons Dr 12/28/07 28-36/49 $525,000 2,329 $225.42
7020 Timber Trail Loop 12/16/07 112/NA $472,950 2,229 $212.19
3232 Four Seasons Dr 12/15/07 71-70/NA $407,610 1,932 $210.98
803 Michael Point 11/28/07 40/NA $445,975 2,229 $200.08
7016 Timber Trail Loop 11/2/07 106/NA $419,990 2,010 $208.96
5040 Covered Bridge Way 8/24/07 161/NA $429,500 1,389 $309.22
138 Slate Ridge Ct 8/24/07 5-5/166 $509,000 2,612 $194.87
9206 Forrestberry Way 7/31/07 31-28/35 $499,990 2,612 $191.43
3203 Four Seasons Dr 7/27/07 11-14/NA $523,505 2,329 $224.78
5050 Covered Bridge Dr 7/23/07 117-113/NA $525,000 2,010 $261.20
7725 Briarberry 7/2/07 48-48/NA $490,000 2,229 $219.83
3237 Four Seasons DR 6/22/07 31-28/NA $506,690 2,229 $227.32
4509 Monte Mar Dr 2/9/07 92/4 $505,000 3,245 $155.63
9029 Fallsmont Dr 1/30/07 7-13/259 $460,000 2,010 $228.86
Calendar Year 2006 Closes
2014 Ranch Bluff Way 12/1/06 116/NA $399,990 1,932 $207.04
4841 Monte Mar Dr 10/16/06 38-56/NA $472,850 1,703 $277.66
2000 Ranch Bluff Way 9/20/06 22-261/NA $493,730 1,932 $255.56
4713 Treeline Way 8/30/06 9-371/NA $450,000 2,229 $201.89
4633 Monte Mar DR 8/10/06 129/117 $532,000 2,612 $203.68
6076 Creekberry Way 7/31/06 48-55/NA $500,065 2,828 $176.83
Pink highlighting indicates “DISTRESSED” properties (bank owned, short sales, REO, and other distress)

08/20/2011

our Seasons Listing and Sales Data as of 8/19/11

Filed under: Four Seasons — fwrg @ 4:20 am
Four Seasons Listing and Sales Data:
Current Listings DATE DOM Sales Price Sq. Ft. $’s/Sq. Ft.
7026 Rushwood Dr 7/12/11 $409,500 2,229 $183.72
8728 Snowfall Way 7/18/10 $419,000 2,329 $179.91
Temporilly Off Market
7372 Grassy Creek Way 4/15/11 $315,000 1,932 $163.05
Current Pending Sales
513 Apen Grove 8/10/11 $369,000 2,010 $183.59
118 Slate Ridge Ct 7/18/11 $339,000 2,010 $168.66
4785 Monte Mar 6/23/11 $315,000 2,010 $156.72
8740 Snow Fall Way 3/4/11 $415,000 2,612 $158.89
Calendar Year 2011 Closes
2004 Tree Leaf Way 8/16/11 $349,000 2,010 $173.64
9242 Forestberry Way 8/11/11 $423,900 2,329 $182.01
1030 Autumn Sky Way 8/11/11 $435,000 2,329 $186.78
7538 Doe Spring Way (Short Sale) 8/8/11 $253,000 1,502 $168.45
4831 Monte Mar Drive 7/12/11 $275,000 1,703 $161.48
4595 Monte Mar Drive 6/30/11 $270,000 1,703 $158.55
7358 Grassy Creek Way 6/22/11 $385,000 $2,229 $172.73
4013 Treeline Way 5/31/11 $354,000 1,932 $183.23
4789 Monte Mar Drive 4/25/11 $315,000 1,703 $184.97
7473 Grassy Creek Way 4/11/11 $449,000 2,329 $192.79
7482 Grassy Creek Way (Foreclosure / REO) 3/11/11 $414,900 2,329 $178.15
7052 Rushwood Drive 1/14/11 $317,500 1,389 $228.59
Calendar Year 2010 Closes
4659 Monte Mar Drive (short sale) 12/15/10 $415,000 2,828 $146.75
9241 Forestberry 11/30/10 $376,000 2,828 $132.96
904 Richard Court 11/23/10 $357,000 2,229 $160.17
7722 Briarberry Way (short sale) 11/10/10 $270,000 1,502 $179.77
4796 Monte Mar Drive (release clause) 11/2/10 $350,000 2,010 $174.13
7737 Briarberry Way (short sale contingent) 10/12010 $320,000 1,932 $165.64
1008 Autumn Sky 9/10/10 $467,500 2,329 $200.73
7396 Grassy Creek Way (bring back-ups) 7/22/10 $390,000 1,703 $229.01
7035 Rushwood Dr (bank owned) 6/30/10 $305,000 1,932 $157.87
118 Slate Ridge Ct 6/7/10 $360,000 2,010 $179.11
7730 Briarberry Way 5/21/10 $305,000 1,389 $219.59
7467 Grassy Creek Way 5/13/10 $489,900 2,612 $187.56
912 Richards Ct 4/7/10 $370,000 1,703 $217.27
4555 Monte Mar Drive 3/23/10 $435,000 2,329 $186.78
2050 Ranch Bluff Way 3/22/10 $428,000 2,828 $151.35
4809 Monte Mar Drive (short sale) 2/12/10 $407,000 2,229 $182.60
1026 Autumn Sky Way 2/5/10 $487,000 2,329 $209.11
Calendar Year 2009 Closes
5013 Covered Bridge 12/8/09 $475,000 2,828 $167.97
4547 Monte Mar Dr (recorded bank transfer) 12/3/09 $357,000 2,828 $126.24
8035 Fallview Way 12/2/09 $367,000 1,389 $264.22
9022 Fallsmont Way 10/28/09 $415,000 2,229 $186.19
7526 Doe Spring Way (bank owned) 10/22/09 $285,000 1,502 $189.75
2005 Ranch Bluff Way 10/1/09 $360,000 1,502 $239.69
8546 Wyndrush Way (not in MLS data) 9/24/09 $457,500 2,329 $196.44
5040 Covered Bridge Way 9/8/09 $367,000 1,389 $264.22
2104 Ranch Bluff Way 7/17/09 $360,000 1,389 $259.18
8744 Snow Fall Way 9/21/09 $465,000 2,329 $199.66
4509 Monte Mar Drive (short sale) 5/29/09 182/133 $425,000 3,245 $130.98
7447 Grassy Creek Way 5/19/09 29/NA $515,000 2,612 $197.17
7016 Rushwood Drive 4/25/09 28/77 $370,000 2,010 $184.08
4828 Monte Mar Drive 4/14/09 87/NA $435,000 2,229 $195.16
4627 Monte Mar Drive 3/23/09 62/189 $440,000 2,828 $155.59
7001 Timber Trail Loop 2/18/09 74/43 $490,000 2,612 $187.60
Calendar Year 2008 Closes
9206 Forestberry Way 10/28/08 28-35/28 $529,000 2,612 $202.53
9029 Fallsmont Drive 10/14/08 168/91 $430,000 2,010 $213.94
4781 Monte Mar 10/10/08 94-31/214 $420,000 1,932 $217.40
4012 Treeline Way 10/7/08 121/385 $420,000 2,010 $208.96
4016 Treeline Way 9/16/08 59/178 $435,000 2,229 $195.16
7036 Timber Trail Loop 9/8/08 116/NA $495,000 2,329 $212.54
513 Aspen Grove Court 8/31/08 24-23/NA $455,000 2,010 $226.37
5021 Covered Bridge Way 8/15/08 258/264 $600,000 3,245 $184.90
6035 Creekberry Way 5/7/08 18-18/NA $485,000 2,010 $241.30
8740 Snow Fall Way 4/30/08 200/161 $526,000 2,612 $201.38
7396 Grassy Creek Way 4/25/08 24-26/NA $373,466 1,703 $219.30
135 Slate Ridge Court 2/28/08 21-21/91 $525,000 2,329 $225.42
2093 Ranch Bluff Way 1/24/08 104-140/NA $499,000 2,010 $248.26
3193 Four Seasons Drive 1/16/08 29/49 $525,000 2,329 $225.42
Calendar Year 2007 Closes
3193 Four Seasons Dr 12/28/07 28-36/49 $525,000 2,329 $225.42
7020 Timber Trail Loop 12/16/07 112/NA $472,950 2,229 $212.19
3232 Four Seasons Dr 12/15/07 71-70/NA $407,610 1,932 $210.98
803 Michael Point 11/28/07 40/NA $445,975 2,229 $200.08
7016 Timber Trail Loop 11/2/07 106/NA $419,990 2,010 $208.96
5040 Covered Bridge Way 8/24/07 161/NA $429,500 1,389 $309.22
138 Slate Ridge Ct 8/24/07 5-5/166 $509,000 2,612 $194.87
9206 Forrestberry Way 7/31/07 31-28/35 $499,990 2,612 $191.43
3203 Four Seasons Dr 7/27/07 11-14/NA $523,505 2,329 $224.78
5050 Covered Bridge Dr 7/23/07 117-113/NA $525,000 2,010 $261.20
7725 Briarberry 7/2/07 48-48/NA $490,000 2,229 $219.83
3237 Four Seasons DR 6/22/07 31-28/NA $506,690 2,229 $227.32
4509 Monte Mar Dr 2/9/07 92/4 $505,000 3,245 $155.63
9029 Fallsmont Dr 1/30/07 7-13/259 $460,000 2,010 $228.86
Calendar Year 2006 Closes
2014 Ranch Bluff Way 12/1/06 116/NA $399,990 1,932 $207.04
4841 Monte Mar Dr 10/16/06 38-56/NA $472,850 1,703 $277.66
2000 Ranch Bluff Way 9/20/06 22-261/NA $493,730 1,932 $255.56
4713 Treeline Way 8/30/06 9-371/NA $450,000 2,229 $201.89
4633 Monte Mar DR 8/10/06 129/117 $532,000 2,612 $203.68
6076 Creekberry Way 7/31/06 48-55/NA $500,065 2,828 $176.83
Pink highlighting indicates “DISTRESSED” properties (bank owned, short sales, REO, and other distress)

08/15/2011

Four Seasons Listing and Sales Data as of 8/15/11

Filed under: Four Seasons — fwrg @ 3:16 pm
Four Seasons Listing and Sales Data:
Current Listings DATE DOM Sales Price Sq. Ft. $’s/Sq. Ft.
7026 Rushwood Dr 7/12/11 $409,500 2,229 $183.72
8728 Snowfall Way 7/18/10 $419,000 2,329 $179.91
Temporilly Off Market
7372 Grassy Creek Way 4/15/11 $315,000 1,932 $163.05
Current Pending Sales
513 Apen Grove 8/10/11 $369,000 2,010 $183.59
118 Slate Ridge Ct 7/18/11 $339,000 2,010 $168.66
2004 Tree Leaf Way 7/13/11 $349,000 2,010 $173.64
4785 Monte Mar 6/23/11 $315,000 2,010 $156.72
9242 Forestberry Way 6/6/11 $429,950 2,329 $184.61
8740 Snow Fall Way 3/4/11 $415,000 2,612 $158.89
Calendar Year 2011 Closes
1030 Autumn Sky Way 8/11/11 $435,000 2,329 $186.78
7538 Doe Spring Way (Short Sale) 8/8/11 $253,000 1,502 $168.45
4831 Monte Mar Drive 7/12/11 $275,000 1,703 $161.48
4595 Monte Mar Drive 6/30/11 $270,000 1,703 $158.55
7358 Grassy Creek Way 6/22/11 $385,000 $2,229 $172.73
4013 Treeline Way 5/31/11 $354,000 1,932 $183.23
4789 Monte Mar Drive 4/25/11 $315,000 1,703 $184.97
7473 Grassy Creek Way 4/11/11 $449,000 2,329 $192.79
7482 Grassy Creek Way (Foreclosure / REO) 3/11/11 $414,900 2,329 $178.15
7052 Rushwood Drive 1/14/11 $317,500 1,389 $228.59
Calendar Year 2010 Closes
4659 Monte Mar Drive (short sale) 12/15/10 $415,000 2,828 $146.75
9241 Forestberry 11/30/10 $376,000 2,828 $132.96
904 Richard Court 11/23/10 $357,000 2,229 $160.17
7722 Briarberry Way (short sale) 11/10/10 $270,000 1,502 $179.77
4796 Monte Mar Drive (release clause) 11/2/10 $350,000 2,010 $174.13
7737 Briarberry Way (short sale contingent) 10/12010 $320,000 1,932 $165.64
1008 Autumn Sky 9/10/10 $467,500 2,329 $200.73
7396 Grassy Creek Way (bring back-ups) 7/22/10 $390,000 1,703 $229.01
7035 Rushwood Dr (bank owned) 6/30/10 $305,000 1,932 $157.87
118 Slate Ridge Ct 6/7/10 $360,000 2,010 $179.11
7730 Briarberry Way 5/21/10 $305,000 1,389 $219.59
7467 Grassy Creek Way 5/13/10 $489,900 2,612 $187.56
912 Richards Ct 4/7/10 $370,000 1,703 $217.27
4555 Monte Mar Drive 3/23/10 $435,000 2,329 $186.78
2050 Ranch Bluff Way 3/22/10 $428,000 2,828 $151.35
4809 Monte Mar Drive (short sale) 2/12/10 $407,000 2,229 $182.60
1026 Autumn Sky Way 2/5/10 $487,000 2,329 $209.11
Calendar Year 2009 Closes
5013 Covered Bridge 12/8/09 $475,000 2,828 $167.97
4547 Monte Mar Dr (recorded bank transfer) 12/3/09 $357,000 2,828 $126.24
8035 Fallview Way 12/2/09 $367,000 1,389 $264.22
9022 Fallsmont Way 10/28/09 $415,000 2,229 $186.19
7526 Doe Spring Way (bank owned) 10/22/09 $285,000 1,502 $189.75
2005 Ranch Bluff Way 10/1/09 $360,000 1,502 $239.69
8546 Wyndrush Way (not in MLS data) 9/24/09 $457,500 2,329 $196.44
5040 Covered Bridge Way 9/8/09 $367,000 1,389 $264.22
2104 Ranch Bluff Way 7/17/09 $360,000 1,389 $259.18
8744 Snow Fall Way 9/21/09 $465,000 2,329 $199.66
4509 Monte Mar Drive (short sale) 5/29/09 182/133 $425,000 3,245 $130.98
7447 Grassy Creek Way 5/19/09 29/NA $515,000 2,612 $197.17
7016 Rushwood Drive 4/25/09 28/77 $370,000 2,010 $184.08
4828 Monte Mar Drive 4/14/09 87/NA $435,000 2,229 $195.16
4627 Monte Mar Drive 3/23/09 62/189 $440,000 2,828 $155.59
7001 Timber Trail Loop 2/18/09 74/43 $490,000 2,612 $187.60
Calendar Year 2008 Closes
9206 Forestberry Way 10/28/08 28-35/28 $529,000 2,612 $202.53
9029 Fallsmont Drive 10/14/08 168/91 $430,000 2,010 $213.94
4781 Monte Mar 10/10/08 94-31/214 $420,000 1,932 $217.40
4012 Treeline Way 10/7/08 121/385 $420,000 2,010 $208.96
4016 Treeline Way 9/16/08 59/178 $435,000 2,229 $195.16
7036 Timber Trail Loop 9/8/08 116/NA $495,000 2,329 $212.54
513 Aspen Grove Court 8/31/08 24-23/NA $455,000 2,010 $226.37
5021 Covered Bridge Way 8/15/08 258/264 $600,000 3,245 $184.90
6035 Creekberry Way 5/7/08 18-18/NA $485,000 2,010 $241.30
8740 Snow Fall Way 4/30/08 200/161 $526,000 2,612 $201.38
7396 Grassy Creek Way 4/25/08 24-26/NA $373,466 1,703 $219.30
135 Slate Ridge Court 2/28/08 21-21/91 $525,000 2,329 $225.42
2093 Ranch Bluff Way 1/24/08 104-140/NA $499,000 2,010 $248.26
3193 Four Seasons Drive 1/16/08 29/49 $525,000 2,329 $225.42
Calendar Year 2007 Closes
3193 Four Seasons Dr 12/28/07 28-36/49 $525,000 2,329 $225.42
7020 Timber Trail Loop 12/16/07 112/NA $472,950 2,229 $212.19
3232 Four Seasons Dr 12/15/07 71-70/NA $407,610 1,932 $210.98
803 Michael Point 11/28/07 40/NA $445,975 2,229 $200.08
7016 Timber Trail Loop 11/2/07 106/NA $419,990 2,010 $208.96
5040 Covered Bridge Way 8/24/07 161/NA $429,500 1,389 $309.22
138 Slate Ridge Ct 8/24/07 5-5/166 $509,000 2,612 $194.87
9206 Forrestberry Way 7/31/07 31-28/35 $499,990 2,612 $191.43
3203 Four Seasons Dr 7/27/07 11-14/NA $523,505 2,329 $224.78
5050 Covered Bridge Dr 7/23/07 117-113/NA $525,000 2,010 $261.20
7725 Briarberry 7/2/07 48-48/NA $490,000 2,229 $219.83
3237 Four Seasons DR 6/22/07 31-28/NA $506,690 2,229 $227.32
4509 Monte Mar Dr 2/9/07 92/4 $505,000 3,245 $155.63
9029 Fallsmont Dr 1/30/07 7-13/259 $460,000 2,010 $228.86
Calendar Year 2006 Closes
2014 Ranch Bluff Way 12/1/06 116/NA $399,990 1,932 $207.04
4841 Monte Mar Dr 10/16/06 38-56/NA $472,850 1,703 $277.66
2000 Ranch Bluff Way 9/20/06 22-261/NA $493,730 1,932 $255.56
4713 Treeline Way 8/30/06 9-371/NA $450,000 2,229 $201.89
4633 Monte Mar DR 8/10/06 129/117 $532,000 2,612 $203.68
6076 Creekberry Way 7/31/06 48-55/NA $500,065 2,828 $176.83
Pink highlighting indicates “DISTRESSED” properties (bank owned, short sales, REO, and other distress)

08/05/2011

Weekly Lender’s Update

Filed under: Lenders and Mortgages — fwrg @ 4:37 pm

For the week of Jul 25, 2011 — Vol. 9, Issue 30

 

 

In This Issue…

 

 

Last Week in Review: You could feel the heat last week, both around the country and in Washington DC, as the debt ceiling debate raged on.

Forecast for the Week: Earnings season continues, plus reports on housing, the economy, and how the consumer is feeling.

View: Flying the skies just got friendlier, thanks to these new rules.

 

Last Week in Review

 

 

“The heat is on.” The title of that Glenn Frey song not only applied to the sweltering temperatures around much of the nation last week, it also applied to the debt ceiling debate, as the heat was on our leaders in Washington to finalize a solution to our debt situation. Why is this important? Read on for details.

It only takes a look at what is happening in Europe these days to understand why it’s crucial that the United States finds a solution to the debt ceiling issue. Not only have eight European banks recently failed a stress test, but last week there was news that Greek, Italian, Portuguese, and French “credit default swaps” (which are insurance policies against default) were trading at record levels. While the European Union is continuing to work to contain Europe’s debt problems and prevent a default in Greece (and elsewhere), these events bode a very important lesson for the US.

Why? Because solving our debt ceiling debate and finding a long-term plan for lowering our deficit and being fiscally sound will raise confidence in our debt and help the US keep its AAA credit rating from the various credit rating firms like Moody’s and Standard and Poor’s. This will help investors continue to see the US as the ultra safe haven for their money, which is a key aspect of our continued economic recovery.

Speaking of our economic recovery, there was some good news last week for the housing sector, as June Housing Starts and Building Permits were both reported better than expected. While this is only one number and one number doesn’t make a trend, this is a good figure, and I will be watching closely for follow through in future readings.

If you’ve been thinking about buying or refinancing a home, give me a call or send me an email to learn how you can take advantage of home loan rates that remain near some of the best levels we’ve seen this year. Or forward this newsletter on to someone you know who may benefit.

 

Forecast for the Week

 

 

Earnings season continues, with reports from 3M, Ford, and Exxon, among others. Plus, a busy week is ahead when it comes to economic reports. Look for:

  • On Tuesday we’ll get an idea about how people are feeling about the economy with the Consumer Confidence Report.
  • Tuesday also brings a report on New Home Sales, which will be followed by the Pending Home Sales Report on Thursday.
  • Thursday also brings another weekly Initial and Continuing Jobless Claims Report. Last week’s Initial Jobless claims came in at 418,000, above the 400,000 mark for the 15th consecutive week. This leading indicator on job market health tells us that the labor market pains have not subsided.
  • Rounding out the week is a double read on the state of the economy with Wednesday’s Durable Goods Orders, which gives us an update on consumer and business buying behavior on big-ticket items, and Friday’s Gross Domestic Product Report, which is the broadest measure of economic activity.

Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result.

As you can see in the chart below, uncertainty in Washington and overseas caused volatility and anxiety in the markets last week, which put pressure on the Bond market and home loan rates. But remember, rates are still very attractive right now. Let me know if I can answer any questions for you.
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Chart: Fannie Mae 4.0% Mortgage Bond (Friday Jul 22, 2011)

 

 

The Mortgage Market Guide View…

 

 

New Passenger-Friendly Rules for Air Travel

New rules will also raise compensation if you’re bumped.

By Susannah Snider, Kiplinger.com

When Jacqueline Tanzella flew from San Francisco to Florida recently for a family vacation, she paid $25 for Delta Airlines to check her bag. She landed around midnight; her suitcase didn’t. Tanzella made it through the night by borrowing pajamas from an aunt and a new Superman toothbrush from her nephew. But she wasn’t happy. “I didn’t pay a $25 fee only to be inconvenienced by not having my bag until the next morning,” she says. “Most retailers would reimburse me or give me a credit in a situation like this.”

Baggage fees are getting scrutiny in expanded airline passenger protections announced by the Department of Transportation. One rule requires airlines to reimburse bag-check fees if your luggage is lost. That won’t help fliers like Tanzella, whose bags are merely delayed, and some experts are grumbling that the protections lack bite. “It is only incremental improvement,” says Rick Seaney, of FareCompare.com. The new protections will also increase the amount that airlines must pay passengers who are involuntarily bumped (from a maximum of $800 now to a maximum of $1,300), limit the time international flights may sit on the tarmac, and require taxes and fees to be more clearly displayed in advertised fares.

Expect some negative side effects. For instance, less overbooking by airlines to avoid higher “bump” fees could put upward pressure on fares, says CrankyFlier.com’s Brett Snyder. The new rules go into effect in August.

Reprinted with permission. All Contents ©2011 The Kiplinger Washington Editors. www.kiplinger.com.
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Economic Calendar for the Week of July 25-29, 2011

Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise.

Economic Calendar for the Week of July 25 – July 29

Date

ET

Economic Report

For

Estimate

Actual

Prior

Impact

Tue. July 26

10:00

Consumer Confidence

Jul

56.0

58.5

Moderate

Tue. July 26

10:00

New Home Sales

Jun

320K

319K

Moderate

Wed. July 27

08:30

Durable Goods Orders

Jun

0.4%

2.1%

Moderate

Wed. July 27

02:00

Beige Book

Moderate

Thu. July 28

10:00

Pending Home Sales

May

-3.0%

8.2

Moderate

Thu. July 28

08:30

Jobless Claims (Initial)

7/23

415K

418K

Moderate

Fri. July 29

08:30

Gross Domestic Product (GDP)

Q2

1.6%

1.9%

Moderate

Fri. July 29

08:30

GDP Chain Deflator

Q2

2.0%

2.0%

Moderate

Fri. July 29

08:30

Employment Cost Index (ECI)

Q2

0.5%

0.6%

HIGH

Fri. July 29

01:00

Chicago PMI

Jul

58.0

61.1

HIGH

Fri. July 29

10:00

Consumer Sentiment Index (UoM)

Jul

63.8

63.8

Moderate

 

 

The material contained in this newsletter is provided by a third party to real estate, financial services and other professionals only for their use and the use of their clients. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is without errors.

 

As your trusted advisor, I am sending you the MMG WEEKLY because I am committed to keeping you updated on the economic events that impact interest rates and how they may affect you.

 

 

Kathy Hearn Bosse
Davis & Amaral Mortgage Consultants, Inc.
1200 Suncast Lane, Suite 3
El Dorado Hills, CA 95762 
  

 

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