NEWS FLASH, FANNIE/FREDDIE SAY HOME PRICES MOVING UP

By
Mortgage and Lending with Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 NMLS # 6869

“News Flash, Fannie/Freddie Say Home Prices Moving up”

I’m not sure there is a Realtor in this country who hasn’t been saying the same thing for months. At the same time appraisals continue to be a problem. The AMC’s and their appraiser networks were certainly quick to downgrade values by saying that most markets have declining values, but how many are adjusting values upward because purchase prices are increasing and they are using old comps? The answer, very few if any.

Home values moving up, appraisals need to followIt is the same as the price of gas, it sure does move up in a hurry, but it sure doesn’t come down very quickly.

Let me know what you think…………….

Fannie/Freddie Transaction Show Rising Home Prices

By: Brian Collins

House prices rose nearly 1% in April after a 1.6% increase in March, according to a house price index based on Fannie Mae and Freddie Mac purchase mortgage transactions.

The HPI published by the Federal Housing Finance Agency has edged up three consecutive months, including 0.8% in April. The seasonally adjusted FHFA HPI is 3% higher than in April 2011.

The FHFA tracks house prices in nine regions. Over the previous 12 months, prices are down in only two regions, New England (2.6%) and the mid-Atlantic (0.9%).

Prices in the Western Mountain states are up 6.5% since April 2011. The Mountain states include Montana, Idaho, Wyoming, Nevada, Utah, Colorado Arizona and New Mexico.

image: renjith krishnan/freedigitalphotos.net

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

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Location:
Connecticut
Groups:
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Consumer Mortgage Tips
All About Mortgages/Mortgage Networking
Tags:
freddie mac
fannie mae
appraisal management company
appraisals
home prices
home values

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Ambassador
1,640,134
Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

Great news for our economy. . specially in my area of service. 

We are having a great 2012 so far!

July 03, 2012 05:36 AM #1
Rainer
144,379
Andrew Capelli
Fidelity National Title - Troy, MI

Joe: Low appraisals continue to be a problem here in Michigan, too, both for residential and commercial properties.  I'm all for preventing fraud, but I think there has to be a happy medium with regard to getting more realistic comps.  Thanks for sharing!

July 03, 2012 07:38 AM #2
Rainmaker
1,033,239
Lisa Von Domek
Lisa Von Domek & Associates LLC, Real Estate Broker/Associate with Real Living Real Estate Group www.LisaVon.com - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Hello Joe,

So true, and perfect analogy with the gas pricing...appraisals are a problem, and will continue to be with no recourse in the system.

July 03, 2012 05:39 PM #3
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Joe Petrowsky

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