Friday, December 2, 2011

News Stories to Keep an Eye On

I can’t believe that Thanksgiving has come and gone and the Christmas holidays are fast approaching. We know you are looking ahead to the new year, as are we, even as we all hopefully enjoy the season with our family and friends. It is important to me to keep an eye on the national stories since they could have a big impact on home loan rates in the year to come. The ups and downs in the daily news stories can be confusing, but here are a few that I follow as Real Estate professional:

1. There is an interesting relationship between the U.S. housing market and the European financial crisis. Even though the news in Greece and Italy is troubling from a global financial perspective, the pessimistic news out of Europe could continue to benefit home loan rates in the U.S., as investors see U. S. Bonds (including Mortgage Bonds) as a safe haven.

2. Of course, home sales and the continued recovery of the U.S. real estate market is reliant on many factors, such as a strong stock market and lower unemployment rates. We saw U.S. stocks rally big on Wednesday following news from the Federal Reserve that it would work with other central banks to support the global economy. Then yesterday was mixed as investor concerns still apparently linger regarding the European crisis.

3. Another story brewing is whether we have another government "bailout" in the making with FHA. FHA has been a mainstay in the real estate financing world during these difficult times as it insures nearly 40% of new home mortgages in the U.S. A recent report by an independent auditor indicates that the FHA has just $2.6 in reserves, down from $4.7 billion last year. This financial situation is apparently being looked at seriously by Federal officials

I believe that the most important thing to keep in mind is that no matter what the national news, NOW continues to be a perfect time to purchase property in Durango, Colorado and take advantage of the historically low rates and great inventory!


If you have any questions, please do not hesitate to call me. You can reach me, Don Ricedorff, at The Wells Group 970-375-7014, don@frontier.net, or at my website at durangorealproperty.com.

Don Ricedorff is a licensed real estate broker in the State of Colorado, with 18+ years of experience, and he resides in Durango Colorado.He has numerous real estate designations, which have provided him with an unparalleled education to assist his clients. The designations include:

CRS, Certified Residential Specialist
CRB, Certified Residential Broker
CCIM, Certified Commercial Investment Member
CDPE, Certified Distressed Property Expert
ABR, Accredited Buyer Representation
GRI, Graduate of Realtor Institute
RSPS, Resort and Second Home Property Specialist
CIPS, Certified International Property Specialist
SRES, Senior Real Estate Specialist

He is also an active volunteer in the community and his church. His highest aspiration is spending time with his wife, Janet, and his three children Kelly, Katie, and Kyle. His other interests include playing tennis, fly fishing, hiking, boating, and water skiing.

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