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It looks like more people are spending more time online. From October 2006 to October 2007, the amount of time an average user spends online has increased by 24.3%.

I would think that this means it is becoming a better idea to advertise your house online.

Chart provided by Complete.com

Henry Paulson, the Treasury Secretary of this great country, has announced that he hopes mortgage companies will soon freeze their rates. He has also urged congress to push through legislation that would regulate the mortgage industry.

He fell short of announcing a 90 day moratorium on foreclosures, which both the Bush administration and Hillary Clinton are toying with.

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Click here to watch an interesting video on the housing crisis put together by PBS.  Seems to cover both sides of the issue fairly well.  The video is 20 or so minutes.   Add a comment with your thoughts on the video.

Sometimes it is difficult, when so many sources of information are conflicting, figuring out who to believe. The chief economist of the NAR (National Association of Realtors) seems to think things have already bottomed out and are starting to rebound, but he represents Realtors, many of whom are hurting right now from falling prices. Taking a stroll down almost any street in America would tell you otherwise.

Thousands upon thousands of subprime loans have yet to reset to higher interest rates, but when they do, you can expect the market to continue its decline. It looks like the bulk of the subprime loans will reset in 2008.

The increase in reset loans will likely mean more foreclosures if refinancing doesn’t take place, or the lending companies decide to reset rates to what borrowers are currently paying.   Some money has to be better than putting your company out of business, right?

Take a look at this chart from Bank of America Securities and you tell me when this housing funk we’re in might end.  Hopefully we’ll find a way out of this mess soon!

Ok, so this isn’t the greatest of topics ever discussed, especially in a failing market where people don’t have money to begin with. But it is ever so important to discuss for those of you that can actually afford to purchase a home in this 21st century. Paying down points, what an interesting thought to consider. Why would this benefit you? You ask. Well, I would assume that most people don’t live in their first home the average length of 6+ years. But when you do get ready to settle down, have kids, and live in a home you will be at for many years, paying down points on a mortgage is not a bad idea. Continue Reading »

Via USA Today

 Coicides nicely with an article we published a while back on how we got into this mess we’re in.  Visit USA Today for explanations as to what the dots represent on the chart.

In addition to getting your house ready for sale, finding a good real estate agent is important. The Boston Globe has an interesting article on things to consider when selecting an agent.  The market isn’t as spry  as it has been in recent history, so there are definitely some general skill sets you should look for.  I have included some highlights from the article after the break.

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