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Foreclosure Deals
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Along with a lack of inventory, the “subdued activity among first-time homebuyers” as discussed in this article is part of the key for the sluggish real estate market in the US.  Rising interest rates and rising home prices, decreasing salaries and continued unemployment make it difficult for first-time homebuyers to qualify for a mortgage and purchase homes and indeed the first step in the right direction is job growth.   #firsttimehomebuyer  

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Improving unemployment numbers have caused an uptick in new home sales in the US and most recently. KB Home, one of the top selling new homes builders have noted profits of 26.6 million in May.  Most recently new home sales have outnumbered existing home sales in the US and it is believed to be due to higher consumer confidence, led by lower unemployment numbers and still low interest rates.  This week's average 30-year fixed rate loans were at 4.14%, still a very affordable rate for mortgages.  #interestrates    #newhomesales  

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The Case-Shiller index shows an increase in real estate property values since last April, but the pace is slower than had been expected.  It’s believed that lower wages are putting the kybosh on seller’s ability to ask higher prices for their homes.  And while it is still expected that prices will continue on the up rise, other economic factors will not allow home values to rise steep and fast.  #caseshiller    #homevalues  

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The Mortgage Bankers Association is forecasting a decline in 2014 for the sale of both new homes and existing homes.  These forecasts from the Mortgage Bankers Association, Fannie Mae and Freddie Mac have been dramatically changed due to increasing home prices, a still weak economy without higher paying jobs and rising interest rates.

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B of A has lowered the threshold of its rewards program to assist customer by offering customers lower rates on its loan programs.  B of A lowered its deposit account threshold from $50,000 to $20,000 and offers its clients with these deposits lower rates on loans such as mortgage loans.  #bankofamerica  

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A new government program launched last summer by the Federal Housing Administration helps those whose homes have been foreclosed to buy another home.  Many who lost their homes did so because of job loss or less income and this program is helping by giving people a second chance.  Qualifying with documented income and proof of good credit provides an avenue for many to qualify for homeownership…again!  #FHA    #foreclosure  

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A new government program launched last summer by the Federal Housing Administration helps those whose homes have been foreclosed to buy another home.  Many who lost their homes did so because of job loss or less income and this program is helping by giving people a second chance.  Qualifying with documented income and proof of good credit provides an avenue for many to qualify for homeownership…again!  #FHA     #foreclosure  

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An entire article here devoted to reporting that interest rates inched up 0.02% points for 30-year fixed rate mortgage loans.  Most economists don’t believe that the Federal Reserve will raise rates until the middle of next year, yet there are events and instances when mortgage rates will fluctuate.  While rates did ease up 0.02% points, rates remain under 4.25% for 30-year, fixed rate loans, still a very affordable rate.   #interestrates  

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Prospective homebuyers in Miami, out shopping for new homes, are finding more than they bargained for—high prices.  Even with a little more inventory in the market, home prices have been on the rise.  Most recently the Case-Shiller Index reported an approximate 16% increase in home prices in Miami.   #homeprices    #Miami  

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Home prices in the nation have risen over the past 24 months, but most recently the Case-Shiller index has reported that Miami’s home values have risen 16.2% over the past year.   #Miami
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