economy

Here is a response to one of our posts about Foreclosures in our blog, from Ken Moll, President of GGB Capital LLC, here in San Francisco.  A bit too long for our comment section, so we're publishing this as a guest post::
 
"Now three months have passed and this moratorium “panic” is largely subsided as banks have for the most part resumed their foreclosure actions at a pre-moratorium pace.  Yet, the markets have still not fully recovered because of the attention this incredible error...

The DJIA crossed 10,000 last week, and seems to be oscillating in that range. (This second at 10,015, thanks to my iphone).  National Public Radio quotes the National Association of Realtors, reporting that home sales in September were up, but national median sale prices are down 8.5% from last year.  Interest rates are incredibly low, and for many first time buyers, the tax credit (up to $8,000, depending upon income) will expire at the end of November.
 
What's up?  Is the housing...

This week's report from Wells Fargo Advisors focuses on the housing market, with some interesting data and information about national studies of housing and studies of different markets throughout the country.  For once, a study looks at part of the Bay Area (here, San Jose, Santa Clara and Sunnyvale) v. the whole Bay Area region (from here to Sacramento).  

It is interesting that most neighborhoods in San Francisco are holding their value more than the national averages (as I have...

by Donna Aldrich, Certified Mortgage Planner, Special to Mermeltown.com  

1 December 2008

 

To quote an old song, ‘what a long strange ride it’s been,’ and the ride continues. Today, National Bureau of Economic Research (NBER) declared that we have been in a recession since December 2007 which, I’m sure comes as no surprise but the specific date has now been officially determined. That determination indicates that economic activity has been declining since then although the...

For the last two months, as the stock market has been sliding, it seems as if the number of buyers in San Francisco has been slowly dropping off as well.  We have always had a way of measuring supply—the number of listings in the Multiple Listing Service (MLS).  But we have never had a way of measuring demand.  Sure, we have anecdotal ways of estimating demand.  When the market was hot, we could count the number of buyers who requested a disclosure package for a property.  And then we...

A study published by UC Irvine's School of Business at the end of last month indicates that low interest rates and sub-prime interest rates were not the major factor in the 'credit crisis' we have been experiencing.  Instead, they look to the risky asset backed securities created by Wall Street firms to fill a need created by conforming loan limits that were lower than market values.

Prior to 2003, basic economic factors were the primary driver of housing prices, including low unemployment...

There are many pleasant surprises in the news in the last day, all which should be good for the local real estate market and for current homeowners...

First, it seems like there is progress in raising conforming loan limits to as high as $729,500 in areas where housing costs are higher.  Huh?  The conforming loan limit is the maximum amount of money that can be lent in a first mortgage.  The current limit is $417,000.  Why is that important for San Francisco buyers or home owners?  If a...

This morning there is news that the Fed has cut interest rates by 3/4 of a point.  This should be good news for mortgage rates.  And if they do go down, it will make buying real estate in San Francisco even more attractive. 

During the last few months, I have observed two distinct markets in San Francisco.  In the Northern and Central neighborhoods, the market is still quite strong and prices are rising, and bidding wars still occur.  In the southern neighborhoods, it has become a...

This article was written by Scott Asbell, a mortgage broker I know from Utah.  It is a nice, clear perspective about some of the recent events in the mortgage industry.  Enjoy!

What's going on in the world of mortgage financing? The media would have you think that the sky is falling, but let's review what is really happening and how it affects our lives and our future.

A few years back, Wall Street investors told the mortgage bankers, "Create new products with higher returns and we will...

A study released yesterday by the Association of Bay Area Governments issued a report yesterday in which predicts continued growth for the Bay Area.  They expect the number of jobs and people will increase through 2035, but the area's housing stock may not keep pace.  The association calls for "smart growth," calling for the creation of housing and services around transportation centers, while preserving open space.  This sounds smart to me. Part of what makes living in San Francisco...

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