Tuesday, February 23, 2010




Sales
Sales in January were 33. This is up 560.0% from 5 in January of 2009. Sales/list price ratio in January moved up to 91.9% from 88.0% in December.



Prices
Median price in January was $1,475,000. This is up 20.9% from $1,220,000 in January of 2009. Average sale price (most recent 3 months) is $2,946,305, up substantially from $2,258,103 in 2009.






Inventory
Inventory of 564 in January was up 2.5% from 550 in December but down 10.9% from 633 in January of 2009.





Market Time

Days on market of 131 in January was down substantially from 190 in December but way up from 41 in January of 2009. Months of supply in January moved down to 18.9 from 19.9 in December.

Tuesday, February 16, 2010

William Raveis Mortgage Re-introduces Conventional Mortgage Insurance To 97% Loan-To-Value


William Raveis Mortgage is re-introducing conventional mortgage insurance to 97% loan-to-value. This non-FHA program enables us to qualify those buyers who have minimal down payment, and it expands the underwriting criteria which will enable William Raveis Mortgage to finance a larger pool of buyers. William Raveis Mortgage is one of the only lenders in the country who has access to this product.

97% conventional financing on Single Family with mortgage insurance for:Primary residence, purchase, minimum credit score of 660,loans up to $417,000, and 45% debt-to-income ratio

95% conventional financing on Condominiums with mortgage insurance for:Primary residence, both purchase and rate/term refinances, minimum credit score of 660,maximum loan amount of $417,000, and 45% debt-to-income ratio

95% conventional financing on Single Family with mortgage insurance for:Primary residence, rate and/refinances, minimum credit score is 660maximum loan is $417,000, and 45% debt-to-income ratio

90% conventional financing on single family Second Homes with mortgage insurance for:Primary residence purchases and rate/term refinances, minimum credit score is 680,maximum loan amount is $417,000, and 45% debt-to-income ratio

Rolling this program out is an honor that comes in tandem with our ranking in the top 1% of all FHA lenders in the country.

Please contact me about how this program, the Federal Tax Credit program or any other Real Estate matter. This special financing and Buyer's programs could benefit you or someone you know.

Thank you!