The Market in SIMPLE English

Eagles,

Check out this link. It further helps explain our appraisal issues. If you are having a current appraisal issue on a transaction, this link would be good to forward to your client to explain the problem/process.

http://www.thinkbigworksmall.com/mypage/archive/1/4909/

Thanks,

Chuck

Eagles,

Check out this article from Realty Times on new short sale and loan modificaton options with 2nd trusts.

http://realtytimes.com/rtpages/20090625_newloan.htm

Thanks,

Chuck

Real Estate Market Update

Stafford County, Virginia

June 2009

Overall Residential Real Estate Market conditions:

Median List price - $285,000

Pricing trend – Increasing

Supply – SELLERS Market – 3.2 Months supply

Multi-Family Residential Market Conditions:
(Townhomes, Condos, Coops)

Median List price - $149,900

Pricing trend – Stable

Supply – SELLERS Market – 2.2 Months supply

Single Family Residential Market Conditions:

Price Range - $0 to $500,000

Supply - SELLERS Market - 2.9 Months supply

Price Range - $500,000 to $1,000,000

Supply - Buyers Market - 9.6 Months supply

Price Range - $1,000,000+

Supply - Buyers Market - NO Under Contract Properties

For more information, visit us on the web
www.TeamRegency.com
What's new on the market in Stafford County TODAY
www.fredericksburgproperties.org
or contact Chuck Cornwell - RE/MAX Regency
e-mail - chuckcornwell@remax.net
540-341-1075

Information deemed reliable but not guaranteed.  Information provided in part by Terradatum and Metropolitan Regional Information Systems, Inc.  Not all real estate activity is reported.

Real Estate Market Update

Fairfax County, Virginia

June 2009

Overall Residential Real Estate Market conditions:

Median List price - $450,000

Pricing trend – Increasing

Supply – SELLERS Market – 2.1 Months supply

Multi-Family Residential Market Conditions:
(Townhomes, Condos, Coops)

Median List price - $285,000

Pricing trend – Increasing

Supply – SELLERS Market – 1.5 Months supply

Single Family Residential Market Conditions:

Price Range - $0 to $500,000

Supply - SELLERS Market - 1.5 Months supply

Price Range - $500,000 to $1,000,000

Supply - SELLERS Market - 2.8 Months supply

Price Range - $1,000,000+

Supply - Buyers Market - 10.2 Months supply

For more information, visit us on the web
www.TeamRegency.com
What's new on the market in Fairfax County TODAY
www.fairfaxproperties.net
or contact Chuck Cornwell - RE/MAX Regency
e-mail - chuckcornwell@remax.net
540-341-1075

Information deemed reliable but not guaranteed.  Information provided in part by Terradatum and Metropolitan Regional Information Systems, Inc.  Not all real estate activity is reported.

Eagles,

The Fed just finished their meeting, and released an announcement.

There is NO change in the Fed Funds or Discount Interest rates. Currently the Fed funds is set at 0 to 1/4 percent interest rate.

The Fed does see that overall market conditions are improving, however, they do see that our current low interest rates will need to remain for some time, and inflation should remain subdued for some time.

The Fed will remain in the markets, buying agency securities, this includes Mortgage Securities to help keep our interest rates low as well.

Overall, nothing shocking in this report - markets seem to be holding while deciphering each word of the announcement.

Chuck

Eagles,

Today is the big day - the Fed will complete a regularly scheduled two day Open Market Committee meeting and make an announcement at about 2:15pm today. I will let you know what I hear.

ALSO out this morning - another surprise for the markets - Durable Goods Orders JUMPED 1.8%.  Durable Goods are manufactured items that are expected to last three or more years.  Economist expected this number to be down. 

This is just more evidence of a rebouding economy!

The Mortgage Bankers Association also just released its Mortgage Applications Index. The index was UP 6.6% to a reading of 542.2 for the week of June 19.  This rise is on the heals of four straight weeks of declines as our mortgage interest rates have adjusted from it 4.5% low.

And finally today at 1pm, the Treasury will announce the refunding of maturing bonds.  Remember, we have a TON of debt for our nations economy coming to market this year.  I expect the Fed will be monitoring this as they are holding their Open Market Committee Meeting today.

More later.

Chuck

Real Estate Market Update

Warren County, Virginia

June 2009

Overall Residential Real Estate Market conditions:

Median List price - $215,000

Pricing trend – Increasing

Supply – Buyers Market – 9.9 Months supply

Multi-Family Residential Market Conditions:
(Townhomes, Condos, Coops)

Median List price - $163,000

Pricing trend – Increasing

Supply – Buyers Market – 8 Months supply

Single Family Residential Market Conditions:

Price Range - $0 to $500,000

Supply - Buyers Market - 9.6 Months supply

Price Range - $500,000 to $1,000,000

Supply - Buyers Market - 32 Months supply

Price Range - $1,000,000+

Supply - Buyers Market - NO Under Contracts

For more information, visit us on the web
www.TeamRegency.com
What's new on the market in Warren County TODAY
www.BlueRidgeProperties.org
or contact Chuck Cornwell - RE/MAX Regency
e-mail - chuckcornwell@remax.net
540-341-1075

Information deemed reliable but not guaranteed.  Information provided in part by Terradatum and Metropolitan Regional Information Systems, Inc.  Not all real estate activity is reported.

Real Estate Market Update

Culpeper County, Virginia

June 2009

Overall Residential Real Estate Market conditions:

Median List price - $288,400

Pricing trend – Increasing

Supply – Balanced Market – 5.9 Months supply

Multi-Family Residential Market Conditions:
(Townhomes, Condos, Coops)

Median List price - $278,500

Pricing trend – Increasing

Supply – Balanced Market – 5.2 Months supply

Single Family Residential Market Conditions:

Price Range - $0 to $500,000

Supply - SELLERS Market - 4.9 Months supply

Price Range - $500,000 to $1,000,000

Supply - Buyers Market - 53 Months supply

Price Range - $1,000,000+

Supply - Buyers Market - NO Under Contracts

For more information, visit us on the web
www.TeamRegency.com
What's new on the market in Culpeper County TODAY
www.CulpeperProperties.com
or contact Chuck Cornwell - RE/MAX Regency
e-mail - chuckcornwell@remax.net
540-341-1075

Information deemed reliable but not guaranteed.  Information provided in part by Terradatum and Metropolitan Regional Information Systems, Inc.  Not all real estate activity is reported.

Real Estate Market Update

Loudoun County, Virginia

June 2009

Overall Residential Real Estate Market conditions:

Median List price - $449,900

Pricing trend – Increasing

Supply – SELLERS Market – 2.5 Months supply

Multi-Family Residential Market Conditions:
(Townhomes, Condos, Coops)

Median List price - $274,686

Pricing trend – Increasing

Supply – SELLERS Market – 1.5 Months supply

Single Family Residential Market Conditions:

Price Range - $0 to $500,000

Supply - SELLERS Market - 1.8 Months supply

Price Range - $500,000 to $1,000,000

Supply - SELLERS Market - 4.8 Months supply

Price Range - $1,000,000+

Supply - Buyers Market - 25.3 Months supply

For more information, visit us on the web
www.TeamRegency.com
What's new on the market in Loudoun County TODAY
www.LoudounProperties.net
or contact Chuck Cornwell - RE/MAX Regency
e-mail - chuckcornwell@remax.net
703-656-4675

Information deemed reliable but not guaranteed.  Information provided in part by Terradatum and Metropolitan Regional Information Systems, Inc.  Not all real estate activity is reported.

Real Estate Market Update

Prince William County, Virginia

June 2009

Overall Residential Real Estate Market conditions:

Median List price - $253,885

Pricing trend – Increasing

Supply – SELLERS Market– 1.6 Months supply

Multi-Family Residential Market Conditions:
(Townhomes, Condos, Coops)

Median List price - $170,000

Pricing trend – Increasing

Supply – SELLERS Market – 1 Month supply

Single Family Residential Market Conditions:

Price Range - $0 to $500,000

Supply - SELLERS Market - 1.6 Months supply

Price Range - $500,000 to $1,000,000

Supply - Balanced - 6.8 Months supply

Price Range - $1,000,000+

Supply - Buyers Market - NO properties Under Contract

For more information, visit us on the web
www.TeamRegency.com
What's new on the market in Prince William County TODAY
www.ManassasProperties.com
or contact Chuck Cornwell - RE/MAX Regency
e-mail - chuckcornwell@remax.net
540-341-1075 - Warrenton, VA

Information deemed reliable but not guaranteed.  Information provided in part by Terradatum and Metropolitan Regional Information Systems, Inc.  Not all real estate activity is reported.