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Market Update

Friday, April 23, 2010
by Jeff Halbert, First Home Mortgage

It has been a relatively quiet week for mortgages.  Yesterday, Existing Homes Sales came in strong rising by 6.8% in March as homebuyers took advantage of the expiring home buyer tax credit.  Pending Homes Sales will be released later this morning, which is also expected higher.  Durable Goods Orders were released this morning, showing an impressive rise in business orders.  Mortgage prices sold off yesterday afternoon and that trend is continuing this morning with rates rising.  The Federal Open Market Committee (FOMC) meets again next week with an announcement coming on Wednesday. 

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Down Payment Assistance Programs Dry Up

Friday, April 16, 2010
by Don DeHanas, Associate Broker

As the surge of buyer activity draws closer and closer to the expiration of the Federal tax credit, the source of buyer-friendly programs has begun to disappear.  The popular USDA Rural Developement Loan program, a 100% financing program, announced March 10, 2010 that it expected to be depleted of funds by the end of April, nearly 6 months away from the end of its fiscal year, and the appropriation of more funds.  Locally, the Charles County Neighborhood Conservation Initiative (NCI), also recently announced funds had been depleted for its agressive down-payment assistance program for the purchase of Bank-owned properties.

With the upcoming exipration of the tax credit, and many loan programs that have run out of funding, there lies a great uncertainty of what will take place in the housing market beyond the 2nd quarter. 

On a side note; Year to date in Charles County, prices are down from this time last year more than 11%. 

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The DeHanas Team
DeHanas Real Estate Services
601 Post Office Road, Suite 2D
Waldorf MD 20602
Office: 301-870-1717
1-800-842-0190
Fax: 240-754-7867
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Servicing all Anne Arundel County, Calvert County, Charles County, and Prince George's County as well as Annapolis, Bowie, Chesapeake Beach, Crofton, Dunkirk, Edgewater, Ft. Meade, Huntingtown, La Plata, North Beach, Odenton, Owings, Pasadena, Severn, Waldorf, and the Upper Marlboro areas of Maryland, all of Washington DC, and Northern Virginia, including Alexandria, Arlington, and King George County real estate advertised in this website are subject to the Federal Fair Housing Act of 1968 which makes it illegal to advertise any preference, limitation, or discrimination based on race, color, religion, sex, handicap and familial status, or national origin, or any intention to make any such preference, limitation or discrimination. DeHanas Real Estate Services will not knowingly accept any listing agreement for real estate sales in Anne Arundel County, Calvert County, Charles County, and Prince George's County as well as Annapolis, Bowie, Chesapeake Beach, Crofton, Dunkirk, Edgewater MD, Ft. Meade, Huntingtown, La Plata, North Beach, Odenton, Owings, Pasadena, Severn, Waldorf, and the Upper Marlboro, all of Washington DC, and Northern Virginia, including Alexandria, Arlington, and King George County areas which are in violation of the law. Our clients and customers are informed that all dwellings advertised on our website in Anne Arundel County, Calvert County, Charles County, and Prince George's County as well as Annapolis, Bowie, Chesapeake Beach, Crofton, Dunkirk, Edgewater MD, Ft. Meade, Huntingtown, La Plata, North Beach, Odenton, Owings, Pasadena, Severn, Waldorf, and the Upper Marlboro, all of Washington DC, and Northern Virginia, including Alexandria, Arlington, and King George County areas are available on an equal opportunity basis. All prices and finance claims appearing in this site are subject to change without notice.