Appraising in Delaware, the Blog...

Over the weekend, many of the news outlets were reporting that insiders believe the Fed will have to bail out the troubled lenders.  About an hour ago, CNN reported Fannie and Freddie down 18% in Monday's early afternoon trading.  As of this posting Freddie shares were trading at $4.90 and Fannie $6.50. 

Here is the article:

http://money.cnn.com/2008/08/18/news/companies/fannie_freddie/?postversion=2008081812

As the article notes, both companies' stock are down 80% since January 2008.   

More positive news.  Crude drops, stocks rally awaiting Fed info.  Check out this article from marketwatch.com. 

We love positive news stories, send yours today!

http://www.marketwatch.com/news/story/crudes-loss-dollars-gain-investors/story.aspx?guid=%7B711408C2-4BC7-40DA-BAF9-2C438D857C59%7D&dist=msr_6

Here is a link to Bloomberg.  http://www.bloomberg.com/apps/news?pid=20601087&sid=a5AkXLCE2KdQ&refer=home

This is positive news about home sales and durable goods in June 2008.  Looks like sales of new homes were higher than forecasts had projected.

We love positive news!  Send us yours.

Here is a link to the positive news story on Bloomberg.com.  If you see positive news stories, let us know. 

http://www.bloomberg.com/apps/news?pid=20601091&sid=abJ0aRe87uHk&refer=india

Today a top regulator tried to squash fears that Freddie and Fannie needed to hold more capital.  James Lockhart the director of the Office of Federal Housing Enterprise Oversite said that, "From Our standpoint, an accounting change should not drive capital."

Reaction to his comments were mixed and varried depending on the news outlet. 

Here is a link to the Wall Street Journal article from Danian Palletta 7/9/2008. http://online.wsj.com/article/SB121552340873635665.html?mod=googlenews_wsj

Here is a link to the Financial Times article on the speach.

http://www.ft.com/cms/s/0/01f1a01e-4d4f-11dd-b527-000077b07658.html

We are interested in hearing what you think?  Is more captial going to improve the situation?  Is more Federal regulation and manipulation going to solve the housing challenges? 

Post your comments and links to other articles. 

Looks like May saw some investors and firsttimers grabbing up deals.  Sales prices were down 6.3% from May of 2007 and existing-home sales rose 2%.  1/3 of the total number of sales in May were short or distressed sales.  Here is a great article from Market Watch.

http://www.marketwatch.com/news/story/existing-home-sales-rise-2-may/story.aspx?guid=%7BEE1CF54C-536D-4DC0-9B67-E9D23A1632AC%7D&dist=msr_6

No matter what stage of life, everyone has a vested interest in real estate. Right now, is a great time to buy. 

Investors:

• Investors with cash can pick up some real deals.  Here is a link to a report in Forbes from June 18th. http://www.forbes.com/forbeslife/realestate/2008/06/17/smart-foreclosures-profit-forbeslife-cx_mw_0617foreclosures.html
• Here is a link to an article from CNNMoney.com.  http://money.cnn.com/2008/06/24/real_estate/home_prices_CaseShiller_April/?postversion=2008062413

First Time Buyers - FREE MONEY!!!

• New programs are available to first time home buyers in Delaware.  Here is a link to the Delaware State Housing Authority's website with the qualification information. http://www.destatehousing.com/services/hb_sfmrb.shtml

Estates

• If you have or are planning an estate, make sure you know what your real estate portfolio is worth in today's market.

Give Appraising in Delaware a call for your next appraisal!  (302)424-7550