$8,000 Tax Credit....Get it While You Can!

Rates are ... WOW...

Today...the 30 year rates were 4.625%.



* courtesy of Director's Mortgage, Portland.

Today's Rates*

Considering a refi while the rates are so good? Here are today's rates for an owner occupied, no cash out refinance.

5.0 % with 1 point
5.25 % with no points

We have great lenders we highly recommend, give us a call today and we will set you up with a stellar lender for all your mortgage needs.



* courtesy of Wells Fargo

Wilsonville Stats*

This Week

The median list price in WILSONVILLE,
OR this week is $399,925. The 126
properties have been on the market
for an average of 133 days.

Inventory has been lightening lately
and the Market Action Index has been
trending up. Though days-on-market
is increasing, these are mildly positive
indications for the market.

Real-Time Market Profile
Median List Price $ 399,925
Average List Price $ 520,799
Asking Price Per Square Foot $ 177
Average Days on Market (DoM) 133
Inventory of Properties Listed 126
Most Expensive Listing $ 3,360,500
Least Expensive Listing $ 19,850
Percent of Properties with Price Decrease 43 %
Percent Relisted (reset DOM) 14 %
Median House Size (sq ft) 2443

Market Action 14.6
The Market Action Index answers the question "How's the Market?" By measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.

Quartile Prices
In the quartile market segments, we see most of the market for this zip code showing price weakness lately. Notice however, that Quartile 4 at the low-end of the market is still on an up-trend. Often this condition happens in markets where demand has fallen (for example, due to micro-location variables) but supply is still relatively short. Buyers are focusing on the lowest price homes in the area.




* stats courtesy of Fidelity National Title

FHA in the news again...

FHA Taking Steps to Ensure Taxpayer Money during Housing Crisis
(Washington, September 18, 2009)

The following is a statement by National Association of Realtors® President Charles McMillan:

“The Federal Housing Administration is playing a crucial role in providing mortgage financing to the housing market, as mortgage and banking systems have faced collapse. While FHA’s capital reserve ratio has declined, that is not surprising for an agency dealing in housing finance in today’s market, and there is no sign that a taxpayer bail-out will be required. FHA stands in contrast to entities in the private sector, including Fannie Mae, Freddie Mac and many large banks that have needed tens of billions of dollars in federal funds.

“Under the leadership of Commissioner Dave Stevens, FHA has announced timely steps to protect taxpayers: implementing credit policy changes to enhance risk management; hiring a chief risk officer for the first time in the agency’s history; shifting responsibility for mortgage brokers away from taxpayers to the lenders who use mortgage brokers; and modifying appraisal requirements including emphasizing appraiser independence and geographic competence.

“Declining home prices have forced many homeowners into underwater positions, regardless of lender or loan product. FHA is still solvent, has significant reserves and remains an essential tool for consumers.”


*courtesy of National Association of Realtors

Rates* for this weekend...

Loan Type | Rate

30 YR Fixed | 4.875%
15 YR Fixed | 4.375%
5/1 ARM | 3.75%
30 YR Fixed VA | 5.0%
30 YR Fixed FHA | 5.0%
5/1 FHA ARM | 3.75%
USDA 30-YR Fix | 5.0%
30-YR Fix Jumbo | 6.125%
5/1 Jumbo | 5.125%

Investor:

30 YR Fixed Investor (20% Down) | 5.75%
30 YR Fixed Investor (25% Down) | 5.375%



* courtesy of Wells Fargo

Pending Home Sales on a Record Roll

Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a reading of 94.6 in June, and is 12.0 percent higher than July 2008 when it was 87.1. The index is at the highest level since June 2007 when it was 100.7.

Lawrence Yun, NAR chief economist, said the housing market momentum has clearly turned for the better. “The recovery is broad-based across many parts of the country. Housing affordability has been at record highs this year with the added stimulus of a first-time buyer tax credit,” he said.

* courtesy of Landover Mortgage

Buy a home in Villebois...and lock at 4.5% for 30 years!

You all know we are huge fans of this neighborhood in Wilsonville....but now, there's even more incentive to buy here.

Arbor Homes has teamed with Wells Fargo and -- for a short time -- is offering a 30-year, fixed rate of 4.5%. Yep, 4.5%.

But, that's not all, they are buying the rate down even further for the first two years. So, year one is locked at 3.5%, year two is also at 3.5% and years three - thirty are locked at 4.5%.

What a great time to buy a brand new home in Villebois! Give us a jingle today and we'll take you through the homes tomorrow.

Have a great holiday weekend!