Home Sales Update For Pleasanton Dublin And Livermore
By · January 23, 2008Look for a second rate cut this month, it’s going to have a big impact on home sales in Pleasanton. The impact will be even larger in Dublin and Livermore home sales.
Look for Congress to use the Senates version of a new FHA loan program. This will increase conforming loan amounts to $729,000 versus the current $417,000. Refi and new purchase loans will increase dramatically.
Before the Pleasanton, Dublin and Livermore housing market can really increase we need to see the inventory reduced. The interest rate decrease and higher conforming loan amounts will help this process and you will see a return to much better home sales by late 2008 or early 2009.
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Categories : Loans, Real Estate
2 Comments
January 23rd, 2008 at 9:30 pm
What makes you think that will make a change now. It seems like its going to take more then just another rate cut.
January 23rd, 2008 at 9:48 pm
Bob, There are other signs of improvement. B of A bought Contrywide being a big help. One of the problems is money, banks can’t make loans unless people pay their loans. By buying Countrywide for 4 billion, B of A gets a trillion dollars in mortgages. These cash flows will let B of A start making more loans; smarter loans I hope.
New FHA loans will result in a slowing of foreclosures and better cash flow for the mortgage holder.
It will take some time and a turn around in the way people think, but in my office I’ve noticed an increase in new sales already.