Tuesday, October 27, 2009

Topics To Move Fence Sitters

Topics To Move Fence Sitters:

High Balance Conforming of $729,750 ends 12/30/2009. Reverts back to $625,500. Simultaneous Closing, 1st and 2nd 80% CLTV to $1,250,000 (San Mateo County)

First Time Homebuyers Tax Credit ends 11/30/2009.

Economic News:

Leading economic indicators for September were up 1% and up 11.8% for the last 6 months. Strongest showing since 1983.

New home sales were up for the fifth consecutive month in August. Inventory of new homes are down to their lowest levels since 1990.

The report on Real GDP to be released this week is expected to show an increase of 3.7% annual pace for the 3rd Quarter. By comparisson, first quarter Real GDP was (-6%) Another sign that the economy may have hit bottom and is on a recovery path.

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