Appraising in Delaware, the Blog...

With mortgage rates at historic lows and mortgage applications down over 12% from last week, now may be the best time to refinance.  Since applications are down, mortgage brokers now have more time to search for the best deal for you.  This fact, compounded with near historic low rates, could translate into good news for homeowners.   

Mortgage applications for purchases are now at a 13 year low and refinance volume dropped 14.3 from the previous week, according to an AP article from 6/9/2010

Click here for an article from Reuters about mortgage rates.

Click here for an article from the AP.

So housing starts were up and it was expected that home prices would follow but it looks like that is not the case nationally.  On a positive note, this area is just getting into it 'season' so we all, realtors, appraiser and homeowners have a positive outlook for the market.

http://online.wsj.com/article/SB10001424052748704026204575266200277903596.html?mod=WSJ_PersonalFinance_RealEstate

Economic and real estate market analysts at Fannie Mae reported Monday that the real estate market is bouncing back.  The analysts also noted that oversupply is slowing the recovery. 

Chief Economist for Fannie Mae, Doug Duncan reported Monday, "We estimate that June 2009 was the end of the recession, a good sign that we're moving forward, Nevertheless, significant improvements in the labor market and consumer spending will be the big hurdles as we move toward recovery in the housing market and broader economy."

For more on this topic check out an article on Business Week click here

In a report released today describes a 7.4% increase in existing homes sales in the month of November.  Economists anticipated a 3.3% increase, so the 7.4% was a positive suprise.  Read more about the report on the Wall Street journal's website click here .  At Appraising in Delaware, we have also noticed a spike in volume in existing home sales in Kent and Sussex Counties. 

Looks like Santa may have come early this year!

According to new data, the existing homes sales increased 10% last month in the US.  The best part is that the numbers surpassed expectations.  Here is a link to the story in Bloomberg.com.  click here

So what do you think?  Has the bottom been met in the housing market?  Send us your stories and we will share more interesting links when we find them.

Milford, DE, 11/9/09 — Appraising In Delaware, Inc., local real estate appraisal firm, added a 2009 Volkswagon Jetta TDI to the fleet in an effort to reduce carbon foot print and increase miles per gallon.  “45.9 miles per gallon!” exclaims Jamie Burk, marketing and operations manager.  After a month of driving, the miles per gallon keep getting better.  “With the number of miles we drive per year up and down Kent county and Sussex county, we needed to find a vehicle that was efficient.  Finding something that also has super low emissions was a huge plus.” 

It was not easy to buy this car.  “We called and called dealerships from Virginia to Pennsylvania.   Those dealerships in turn called all the way to the entry port in Rhode Island.  We ended up holding two with credit cards over the phone.  Buying a car without driving it is new to me,” explains Patti Persia owner of Appraising in Delaware, Inc.

The new vehicle is so clean that it qualifies for a $1,500 green vehicle tax credit. 

Appraising in Delaware, Inc. provides real estate appraisal services in Kent and Sussex Counties.  For more information call (302)424-7550 or visit www.appraisinginDE.com

Appraising In Delaware, Inc.
Jamie Burk, Marketing Director
(302)424-7550
(302)424-4755 - fax
Appraising@hotmail.com
www.appraisinginDE.com

Appraising in Delaware, Inc. valuing homes in Kent and Sussex counties…..now cleaner!

# # #

http://www.free-press-release.com/news-delaware-appraiser-adds-green-vehicle-1257785526.html