Wayne Zerler's blog. http://fripptide.com/blog/wayneblog.php http://fripptide.com/blog/wayneblog.php?entry=130 http://fripptide.com/blog/wayneblog.php?entry=129 By JOSH McCANN
jmccann@islandpacket.com
843-706-8145
Published Saturday, April 24, 2010
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Area home sales picked up steam in the first quarter of 2010 compared to the same period a year ago, according to the latest data from the state Realtors association.

Although average prices remain depressed, local real estate agents welcomed the momentum for their business, a driving force of the local economy that has suffered during the recession.

"It's not like it was in '05, but it's better than it was last year," said Charles Sampson, president of the Hilton Head Area Association of Realtors.

For the quarter, sales of homes and condominiums in the Hilton Head Island Multiple Listing Service area increased 63.8 percent -- from 320 to 524 -- compared to the same period in 2009. Sales were up 36.7 percent -- from 150 to 205 -- in the Beaufort MLS.

In March, sales increased more than 70 percent in Beaufort's MLS and more than 40 percent in Hilton Head's.

After waiting, in some cases for years, to get the best deal as prices continued to fall, prospective buyers are realizing the market might have bottomed out and are taking action, said Edward Dukes of Lowcountry Real Estate in Beaufort.

"It's not just looking," he said.

Warmer weather, favorable interest rates and federal tax credits have coaxed people to buy, said Sampson of Charter I. Many are scooping up properties through foreclosures or short sales -- an agreement between a lender and an owner to sell a home for less than is owed on a mortgage, he said.

After suffering through an especially cold winter elsewhere, some might have decided to move South sooner than they had planned, Sampson said. For them, Hilton Head still offers the same beach, cultural organizations and quality of life as it did when the market was "red hot" a few years ago, he said.

Sales could suffer when the tax credit expires -- homes must be under contract by Friday to qualify -- but Sampson hopes changes intended to smooth the short-sale process might "pick up the slack."

Ongoing unemployment, commercial mortgage problems and more foreclosures could still weigh down the national economy, however.

"It's too early to say we're out of the woods," he said.

But if nothing derails sales, it shouldn't be long before prices rebound, too, Dukes said.

"Then we can start building some appreciation again," he said



Read more: http://www.islandpacket.com/2010/04/24/1218707/area-home-sales-picking-up-steam.html#ixzz0m86leqyR]]> http://fripptide.com/blog/wayneblog.php?entry=128 Published: Wednesday, 31 Mar 2010 | 1:16 PM ET Text Size By: Mark Koba
Senior Editor

Worries over a lack of funding for the government's home flood insurance program have receded—for now.


AP
--------------------------------------------------------------------------------


Home buyers who need flood insurance can go ahead with closings even if they haven't actually purchased a policy.

That's because federal banking regulators issued a statement through Freddie Mac Tuesday, saying "lenders can continue to originate loans on flood-prone properties despite a temporary shutdown of the National Flood Insurance Program."

Congress left for its Easter recess last week without re-newing the flood insurance program's funds, leaving thousands of homeowners more than a little concerned over what to do. The funding expired on Sunday.

"This is certainly good news," says John Prible, vice president of Federal government relations at the Independent Insurance Agents and Brokers of America. "Home buyers just have to put a system in place so that as soon as Congress extends the program, they have the paper work ready to buy the insurance. Home closings are not at risk."

Prible says he expects Congress to put the funds back in the program when it returns on April 12.

"We fully expect the program to get back to where it was in terms of funding," adds Prible. "That includes their promise of making it retro-active for home buyers and policy renewals during this time."

Prible says the only problem is for those needing renewals during the next two weeks. "Renewals can't go through at this point but they should be covered when Congress comes back and votes the funding to cover this period," says Prible. "People just have to wait it out."

Many home buyers are required to purchase flood insurance and the National Flood Insurance Program or NFIP provides coverage when private companies do not. It's purchased through an insurance company and provides more than 95 percent of US flood coverage.

The House passed an extension on March 17, but it stalled in the senate when Senators Jim Bunning (R-KY), Jim DeMint (R-SC) and Tom Coburn (R-OK) objected to the funding's tie in with jobless benefits and other federal programs. They say it would add to the public debt.(Calls to their offices were not returned.)

But Senate Majority Leader Harry Reid (D-NV) has said he promises to bring the matter to a vote when Congress returns.


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Some $100 billion is targeted for the refunding. That's includes paying off the $20 billion debt the NFIP has from claims coming from Hurricanes Katrina and Rita in 2005.

Started in 1968, the NFIP has had to face several funding votes in recent years. The next extension would be the fourth one since funding expired on September 30th of last year.

Prible says its time Congress took a longer view on the issue.

"This really has to stop," Prible argues. "It gets weary and homeowners get caught in the middle. It's not good for the housing market. Congress should just plain extend the program on a long term basis]]> http://fripptide.com/blog/wayneblog.php?entry=127 By CASSIE FOSS
cfoss@islandpacket.com
843-706-8125
Published Tuesday, March 23, 2010
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For two consecutive months, home sales have risen dramatically in the Hilton Head Island Multiple Listing Service area.

Sales in the eight-county MLS region increased 103 percent in January compared to January 2009 and took a 64-percent jump in February from February 2009, according to areport Tuesday from the S.C. Realtors trade group.

The Beaufort MLS area has also experienced two months of increases, with a 4.9-percent increase in January and a 15.9-percent jump in February.

Those numbers point to a residential real estate market that slowly is recovering, a trend area Realtors and industry professionals say is because of low interest rates, federal tax credits for home buyers and low prices.

But as prices in the area fall and homes continue to come on the market -- in part because of a large number of foreclosures and short sales -- the local industry will not fully recover this year, said Todd McDaniel, president of the Beaufort County Association of Realtors.

"I'm encouraged by the numbers, but demand probably won't outpace supply for a time, possibly for between 18 months and two years," McDaniel said. "I don't think we'll see a substantial turn downward, but those two lines won't probably cross until early 2012. We're heading in the right direction, though."

Wallace Thomas, a Realtor with Century 21 Carolina Realty in Beaufort, said foreclosures are driving prices down. The median price in the Hilton Head area is down 25 percent in February to $215,000, while Beaufort's median price dropped 11.9 percent to $148,000, according to S.C. Realtors.

"We're getting good activity, but we're not getting the prices we want," Thomas said. "What's hurting us is the large volume of homes that were built in the Bluffton area. People can buy a larger foreclosure home with a two-car garage for way less."

A federal tax credit of $8,000 for first-time home buyers boosted sales in the region last fall, said Charles Sampson, a Realtor with Charter One North and president for the Hilton Head Area Association of Realtors. With the tax credit extended until the end of April and expanded to buyers who have not purchased a home in five years, people are rushing to take advantage of the credits.

"Interest rates are still good, and hopefully, we'll see sales continue through the end of April," Sampson said. "But a new wave of foreclosures threatens the market. Prices are still adjusting downward, and we're not sure whether we've hit the bottom yet."

Some industry professionals, however, are wondering what will happen when the tax credit expires April 30 -- and if there is a rise in interest rates, which have been below 5 percent for a 30-year mortgage recently.

"Have the federal programs stabilized the market enough so that when they end the markets can be self-sustaining? That's the question we're trying to answer," S.C. Realtors executive director Nick Kremydas said.

Tom Jackson, a Realtor at Gateway Realty in Bluffton, said the tax credits and short sales -- an agreement between the lender and an owner to sell a home for less than what is owed on the mortgage -- have been great incentives for buyers looking in Bluffton.

"There are a lot of short sales in our market, which takes a lot more effort and time, but it's bringing in buyers," he said. "Every little bit helps."]]> http://fripptide.com/blog/wayneblog.php?entry=126 By KRISTY EPPLEY RUPON
The (Columbia) State
Published Thursday, December 17, 2009
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A tax credit helped boost November home sales in northern Beaufort County 126 percent from November 2008 and in the larger Hilton Head area, 123 percent. Statewide, sales increased 63 percent in November over the past year, according to a report released Thursday.

But dismal sales in the first half of the year have dragged down year-to-date sales 10 percent, according to data from the S.C. Realtors trade group. However, in the Hilton Head area, which includes eight counties, sales were up 1.3 percent. In northern Beaufort County, sales year-to-date were down 2.2 percent from the same period in 2008.

Last month, the median price of homes that sold in northern Beaufort County fell 5.1 percent to $187,000, compared to the state average that slipped 5.9 percent to$138,000 from a year ago. In the large Hilton Head area, home prices shot up 7.8 percent to $275,000 from November 2008.

"November was probably the worst month that we got hit with last year," said Nick Kremydas, chief executive of the trade group.

He called the last three months of 2008 -- when sales were down 29 percent statewide -- "one of the darkest fourth quarters we've ever seen."

But Kremydas said the past few months of this year have been "pretty amazing." Home sales started increasing in September as more homebuyers swooped in before a tax credit was scheduled to end Nov. 30.

November's gain was the culmination of buyers jumping to take advantage of an $8,000 credit for first-time home buyers. Now, Congress has extended the credit to next spring and added a $6,500 credit for longtime homeowners.

Sales in almost every region in South Carolina -- particularly along the hard-hit coast -- spiked in November.

The only blip was in Cherokee County, where sales declined 24 percent. The tiny territory saw 19 sales in November, compared to 25 last November.

Kremydas said early indicators show December's sales also will be strong, but he doesn't know if it will be enough for the state to break even with last year's sales. He expects 2010 to be better than the past two dismal years.

SALES

Nearly every region in S.C. saw a massive increase in home sales in November.

STATEWIDE

Home sales

November 2008: 2,454

November 2009: 3,997

Change: +63%

Median price

November 2008: $146,700

November 2009: $138,000

Change: -6%

BEAUFORT

Home sales

November 2008: 31

November 2009: 70

Change: +126%

Median price

November 2008: $198,000

November 2009: $187,000

Change: -5.6%

HILTON HEAD AREA (8 county region)

Home sales

November 2008: 92

November 2009: 205

Change: +123%

Median price

November 2008: $255,000

November 2009: $275,000

Change: +7.8%

MYRTLE BEACH

Home sales

November 2008: 309

November 2009: 573

Change: +85%

Median price

November 2008: $167,000

November 2009: $146,000

Change: -13%

SOURCE: S.C. Realtors trade group]]> http://fripptide.com/blog/wayneblog.php?entry=125 http://fripptide.com/blog/wayneblog.php?entry=124 http://fripptide.com/blog/wayneblog.php?entry=123

30 yr fixed 4.93% 5.09%
30 yr fixed jumbo 6.06% 6.20%
15 yr fixed 4.57% 4.82%
15 yr fixed jumbo 5.58% 5.82%
5/1 ARM 4.06% 4.17%
5/1 jumbo ARM 4.72% 4.39%]]> http://fripptide.com/blog/wayneblog.php?entry=122
“Neglecting to include smaller community banks and credit unions could prove to be a costly admission," says Greg McBride, senior financial analyst with Bankrate.com of the loan-hunting process.

“In this market, in particular with jumbo large or jumbo confirming loans, smaller community banks and credit unions are very competitive,” says McBride.

Compared to large banks, which are more depended on the secondary market, small banks have more flexibility to offer lower rate loans because “they are not dependent on an investor in the second market to eventually buy it,” he said.]]> http://fripptide.com/blog/wayneblog.php?entry=121
"The market is recovering but not yet settled. Last minute chaotic home price changes are evidently still taking place, though there are signs that the sold-to-list prices are narrowing in areas with rising sales. The new appraisal process could also be one of the reasons for the need to slash price," says the Realtors' chief economist Lawrence Yun. "During market transition data often move in conflicting directions."
The biggest discounts are at the high end of the market. Luxury homes (those listed at two million dollars and above) are taking an average 14 percent off the original list price. Athough they represent barely 2 percent of all current listings on Trulia, they are responsible for 25 percent of the total $28.3 billion in price reductions. This is likely due to the fact that while sales are surging on the low end of the market, they have ground to a near halt on the high end. The still tight jumbo loan market is making sure of that.]]> http://fripptide.com/blog/wayneblog.php?entry=120 ]]> http://fripptide.com/blog/wayneblog.php?entry=119 Saturday 08/01/09 5:29PM Moonrise
Saturday 08/01/09 5:39PM 6.27 feet High Tide
Saturday 08/01/09 8:18PM Sunset
Saturday 08/01/09 11:58PM 0.99 feet Low Tide]]> http://fripptide.com/blog/wayneblog.php?entry=118 Thursday 07/30/09 3:07AM 5.54 feet High Tide
Thursday 07/30/09 6:35AM Sunrise
Thursday 07/30/09 9:16AM 0.6 feet Low Tide
Thursday 07/30/09 3:41PM Moonrise
Thursday 07/30/09 3:55PM 6.28 feet High Tide
Thursday 07/30/09 8:20PM Sunset
Thursday 07/30/09 10:14PM 1.1 feet Low Tide]]> http://fripptide.com/blog/wayneblog.php?entry=117 ]]> http://fripptide.com/blog/wayneblog.php?entry=116 Monday 07/27/09 6:39AM -0.26 feet Low Tide
Monday 07/27/09 12:33PM 6.49 feet High Tide
Monday 07/27/09 12:38PM Moonrise
Monday 07/27/09 1:18PM 6.55 feet High Tide
Monday 07/27/09 7:15PM 0.42 feet Low Tide
Monday 07/27/09 8:22PM Sunset
Monday 07/27/09 11:47PM Moonset]]> http://fripptide.com/blog/wayneblog.php?entry=115 ]]> http://fripptide.com/blog/wayneblog.php?entry=114 ]]> http://fripptide.com/blog/wayneblog.php?entry=113 ]]> http://fripptide.com/blog/wayneblog.php?entry=112 Sunday 07/26/09 6:32AM Sunrise
Sunday 07/26/09 11:35AM Moonrise
Sunday 07/26/09 12:23PM 6.63 feet High Tide
Sunday 07/26/09 6:20PM -0.01 feet Low Tide
Sunday 07/26/09 8:23PM Sunset
Sunday 07/26/09 11:14PM Moonset]]> http://fripptide.com/blog/wayneblog.php?entry=111 Saturday 07/25/09 11:26AM 6.66 feet High Tide
Saturday 07/25/09 5:27PM -0.43 feet Low Tide
Saturday 07/25/09 8:24PM Sunset
Saturday 07/25/09 10:43PM Moonset
Saturday 07/25/09 11:41PM 6.89 feet High Tide]]> http://fripptide.com/blog/wayneblog.php?entry=110 Friday 07/24/09 6:31AM Sunrise
Friday 07/24/09 9:23AM Moonrise
Friday 07/24/09 10:30AM 6.65 feet High Tide
Friday 07/24/09 4:34PM -0.76 feet Low Tide
Friday 07/24/09 8:24PM Sunset
Friday 07/24/09 10:11PM Moonset
Friday 07/24/09 10:49PM 7.26 feet High Tide]]> http://fripptide.com/blog/wayneblog.php?entry=109 ]]> http://fripptide.com/blog/wayneblog.php?entry=108 Thursday 07/23/09 6:30AM Sunrise
Thursday 07/23/09 8:13AM Moonrise
Thursday 07/23/09 9:34AM 6.55 feet High Tide
Thursday 07/23/09 3:41PM -0.95 feet Low Tide
Thursday 07/23/09 8:25PM Sunset
Thursday 07/23/09 9:38PM Moonset
Thursday 07/23/09 9:57PM 7.54 feet High Tide]]> http://fripptide.com/blog/wayneblog.php?entry=107 ]]> http://fripptide.com/blog/wayneblog.php?entry=106 .]]> http://fripptide.com/blog/wayneblog.php?entry=105 http://fripptide.com/blog/wayneblog.php?entry=104 Wednesday 07/22/09 6:30AM Sunrise
Wednesday 07/22/09 7:00AM Moonrise
Wednesday 07/22/09 8:38AM 6.38 feet High Tide
Wednesday 07/22/09 2:47PM -0.98 feet Low Tide
Wednesday 07/22/09 8:26PM Sunset
Wednesday 07/22/09 9:00PM Moonset
Wednesday 07/22/09 9:05PM 7.68 feet High Tide]]> http://fripptide.com/blog/wayneblog.php?entry=103 Tuesday 07/21/09 1:50PM -0.87 feet Low Tide
Tuesday 07/21/09 8:11PM 7.65 feet High Tide
Tuesday 07/21/09 8:17PM Moonset
Tuesday 07/21/09 8:26PM Sunset
Tuesday 07/21/09 10:35PM New Moon]]> http://fripptide.com/blog/wayneblog.php?entry=102 Monday 07/20/09 12:52PM -0.66 feet Low Tide
Monday 07/20/09 7:15PM 7.49 feet High Tide
Monday 07/20/09 7:26PM Moonset
Monday 07/20/09 8:27PM Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=101 Sunday 07/19/09 6:15PM 7.24 feet High Tide
Sunday 07/19/09 6:27PM Moonset
Sunday 07/19/09 8:27PM Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=100 Saturday 07/18/09 4:35AM 5.5 feet High Tide
Saturday 07/18/09 6:27AM Sunrise
Saturday 07/18/09 10:52AM -0.11 feet Low Tide
Saturday 07/18/09 5:13PM 6.96 feet High Tide
Saturday 07/18/09 5:22PM Moonset
Saturday 07/18/09 8:28PM Sunset
Saturday 07/18/09 11:45PM 0.49 feet Low Tide]]> http://fripptide.com/blog/wayneblog.php?entry=99 Friday 07/17/09 3:34AM 5.43 feet High Tide
Friday 07/17/09 6:26AM Sunrise
Friday 07/17/09 9:50AM 0.12 feet Low Tide
Friday 07/17/09 4:12PM 6.69 feet High Tide
Friday 07/17/09 4:13PM Moonset
Friday 07/17/09 8:28PM Sunset
Friday 07/17/09 10:43PM 0.8 feet Low Tide]]> http://fripptide.com/blog/wayneblog.php?entry=98 Thursday 07/16/09 12:57PM Moonrise
Thursday 07/16/09 3:05PM Moonset
Thursday 07/16/09 3:14PM 6.42 feet High Tide
Thursday 07/16/09 8:29PM Sunset
Thursday 07/16/09 9:36PM 1.02 feet Low Tide]]> http://fripptide.com/blog/wayneblog.php?entry=97 Tuesday 07/14/09 12:59PM Moonset
Tuesday 07/14/09 1:27PM 5.92 feet High Tide
Tuesday 07/14/09 7:28PM 1.11 feet Low Tide
Tuesday 07/14/09 8:30PM Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=96 Monday 07/13/09 6:24AM Sunrise
Monday 07/13/09 12:01PM Moonset
Monday 07/13/09 12:08PM 5.72 feet High Tide
Monday 07/13/09 12:38PM 5.72 feet High Tide
Monday 07/13/09 6:35PM 1.03 feet Low Tide
Monday 07/13/09 8:30PM Sunset
Monday 07/13/09 11:53PM Moonrise]]> http://fripptide.com/blog/wayneblog.php?entry=95 Friday 06/26/09 6:16AM Sunrise
Friday 06/26/09 10:35AM Moonrise
Friday 06/26/09 11:49AM 6.27 feet High Tide
Friday 06/26/09 5:45PM -0.47 feet Low Tide
Friday 06/26/09 8:32PM Sunset
Friday 06/26/09 11:42PM Moonset]]> http://fripptide.com/blog/wayneblog.php?entry=94 Thursday 06/25/09 6:16AM Sunrise
Thursday 06/25/09 9:25AM Moonrise
Thursday 06/25/09 10:48AM 6.23 feet High Tide
Thursday 06/25/09 4:51PM -0.76 feet Low Tide
Thursday 06/25/09 8:32PM Sunset
Thursday 06/25/09 11:07PM Moonset
Thursday 06/25/09 11:10PM 7.29 feet High Tide]]> http://fripptide.com/blog/wayneblog.php?entry=93 Saturday 06/20/09 6:03AM 5.61 feet High Tide
Saturday 06/20/09 6:15AM Sunrise
Saturday 06/20/09 12:08PM 0.37 feet Low Tide
Saturday 06/20/09 12:14PM -0.4 feet Low Tide
Saturday 06/20/09 6:34PM Moonset
Saturday 06/20/09 6:35PM 7.23 feet High Tide
Saturday 06/20/09 8:31PM Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=92 Wednesday 06/17/09 3:13AM 5.43 feet High Tide
Wednesday 06/17/09 6:14AM Sunrise
Wednesday 06/17/09 9:26AM 0.33 feet Low Tide
Wednesday 06/17/09 3:10PM Moonset
Wednesday 06/17/09 3:48PM 6.24 feet High Tide
Wednesday 06/17/09 8:30PM Sunset
Wednesday 06/17/09 10:07PM 0.99 feet Low Tide]]> http://fripptide.com/blog/wayneblog.php?entry=91 Monday 06/15/09 1:11PM Moonset
Monday 06/15/09 2:06PM 5.62 feet High Tide
Monday 06/15/09 6:16PM Last Quarter
Monday 06/15/09 8:00PM 1.26 feet Low Tide
Monday 06/15/09 8:30PM Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=90 Sunday 06/14/09 12:15PM Moonset
Sunday 06/14/09 12:28PM Moonrise
Sunday 06/14/09 12:47PM 5.65 feet High Tide
Sunday 06/14/09 1:17PM 5.4 feet High Tide
Sunday 06/14/09 7:03PM 1.22 feet Low Tide
Sunday 06/14/09 8:30PM Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=89 Saturday 06/13/09 12:00PM Moonrise
Saturday 06/13/09 12:03PM 5.79 feet High Tide
Saturday 06/13/09 12:29PM 5.26 feet High Tide
Saturday 06/13/09 6:14PM 1.1 feet Low Tide
Saturday 06/13/09 8:29PM Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=88 Wednesday 06/10/09 6:14AM Sunrise
Wednesday 06/10/09 8:30AM Moonset
Wednesday 06/10/09 10:16AM 5.33 feet High Tide
Wednesday 06/10/09 4:14PM 0.65 feet Low Tide
Wednesday 06/10/09 8:28PM Sunset
Wednesday 06/10/09 10:42PM 6.16 feet High Tide
Wednesday 06/10/09 10:57PM Moonri]]> http://fripptide.com/blog/wayneblog.php?entry=87 Tuesday 06/09/09 6:14AM Sunrise
Tuesday 06/09/09 7:34AM Moonset
Tuesday 06/09/09 9:35AM 5.42 feet High Tide
Tuesday 06/09/09 3:36PM 0.5 feet Low Tide
Tuesday 06/09/09 8:28PM Sunset
Tuesday 06/09/09 10:02PM 6.36 feet High Tide
Tuesday 06/09/09 10:19PM Moonris]]> http://fripptide.com/blog/wayneblog.php?entry=86 Monday 06/08/09 6:14AM Sunrise
Monday 06/08/09 6:39AM Moonset
Monday 06/08/09 8:54AM 5.5 feet High Tide
Monday 06/08/09 2:56PM 0.38 feet Low Tide
Monday 06/08/09 8:27PM Sunset
Monday 06/08/09 9:23PM 6.53 feet High Tide
Monday 06/08/09 9:35PM Moonrise]]> http://fripptide.com/blog/wayneblog.php?entry=85 Sunday 06/07/09 5:48AM Moonset
Sunday 06/07/09 6:14AM Sunrise
Sunday 06/07/09 8:12AM 5.55 feet High Tide
Sunday 06/07/09 2:12PM Full Moon
Sunday 06/07/09 2:16PM 0.27 feet Low Tide
Sunday 06/07/09 8:27PM Sunset
Sunday 06/07/09 8:44PM 6.66 feet High Tide
Sunday 06/07/09 8:46PM Moonrise]]> http://fripptide.com/blog/wayneblog.php?entry=84 Wednesday 06/03/09 5:01AM 5.8 feet High Tide
Wednesday 06/03/09 6:15AM Sunrise
Wednesday 06/03/09 11:16AM 0 feet Low Tide
Wednesday 06/03/09 4:54PM Moonrise
Wednesday 06/03/09 5:46PM 6.66 feet High Tide
Wednesday 06/03/09 8:25PM Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=83 Tuesday 06/02/09 4:08AM 5.97 feet High Tide
Tuesday 06/02/09 6:15AM Sunrise
Tuesday 06/02/09 10:26AM 0 feet Low Tide
Tuesday 06/02/09 3:54PM Moonrise
Tuesday 06/02/09 4:54PM 6.54 feet High Tide
Tuesday 06/02/09 8:24PM Sunset
Tuesday 06/02/09 11:10PM 0.41 feet Low]]> http://fripptide.com/blog/wayneblog.php?entry=82 Wednesday 05/27/09 6:17AM Sunrise
Wednesday 05/27/09 9:20AM Moonrise
Wednesday 05/27/09 11:01AM 5.99 feet High Tide
Wednesday 05/27/09 5:04PM -0.56 feet Low Tide
Wednesday 05/27/09 8:21PM Sunset
Wednesday 05/27/09 11:25PM 7.24 feet High Tide
Wednesday 05/27/09 11:53PM Moonset]]> http://fripptide.com/blog/wayneblog.php?entry=81 Tuesday 05/26/09 6:17AM Sunrise
Tuesday 05/26/09 8:08AM Moonrise
Tuesday 05/26/09 10:03AM 6.03 feet High Tide
Tuesday 05/26/09 4:11PM -0.72 feet Low Tide
Tuesday 05/26/09 8:20PM Sunset
Tuesday 05/26/09 10:28PM 7.47 feet High Tide
Tuesday 05/26/09 11:03PM Moonset]]> http://fripptide.com/blog/wayneblog.php?entry=80 Monday 05/25/09 6:18AM Sunrise
Monday 05/25/09 7:01AM Moonrise
Monday 05/25/09 9:10AM 6.04 feet High Tide
Monday 05/25/09 3:19PM -0.75 feet Low Tide
Monday 05/25/09 8:19PM Sunset
Monday 05/25/09 9:34PM 7.61 feet High Tide
Monday 05/25/09 10:05PM Moonset]]> http://fripptide.com/blog/wayneblog.php?entry=79 Sunday 05/24/09 6:02AM Moonrise
Sunday 05/24/09 6:18AM Sunrise
Sunday 05/24/09 8:12AM New Moon
Sunday 05/24/09 8:19AM 5.99 feet High Tide
Sunday 05/24/09 2:26PM -0.67 feet Low Tide
Sunday 05/24/09 8:19PM Sunset
Sunday 05/24/09 8:42PM 7.61 feet High Tide
Sunday 05/24/09 8:58PM Moonset]]> http://fripptide.com/blog/wayneblog.php?entry=78 Saturday 05/23/09 6:19AM Sunrise
Saturday 05/23/09 7:28AM 5.89 feet High Tide
Saturday 05/23/09 1:35PM -0.5 feet Low Tide
Saturday 05/23/09 7:48PM Moonset
Saturday 05/23/09 7:52PM 7.47 feet High Tide
Saturday 05/23/09 8:18PM Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=77 Friday 05/22/09 6:19AM Sunrise
Friday 05/22/09 6:37AM 5.77 feet High Tide
Friday 05/22/09 12:36PM 0.33 feet Low Tide
Friday 05/22/09 12:44PM -0.28 feet Low Tide
Friday 05/22/09 6:37PM Moonset
Friday 05/22/09 7:02PM 7.2 feet High Tide
Friday 05/22/09 8:17PM Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=76 Thursday 05/21/09 5:28PM Moonset
Thursday 05/21/09 6:11PM 6.84 feet High Tide
Thursday 05/21/09 8:17PM Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=75
In some markets, appraisals are contributing to price deterioration. Home builder analyst Ivy Zelman reports on a builder in California who says that it “had to drop prices on all sales in process 8 percent at one community due to appraisals coming in too low.” The same in Florida.

“We believe that overly-conservative appraisers could potentially prolong the process of price deterioration, as builders attempting to push price may encounter appraisal prices well below contract due to foreclosures and other distressed sales,” writes Zelman. “This issue is exacerbated by the recent Home Valuation Code of Conduct instituted May 1st, requiring third-party appraisals on all GSE-approved loans.”]]> http://fripptide.com/blog/wayneblog.php?entry=74 Tuesday 05/19/09 3:23PM Moonset
Tuesday 05/19/09 4:28PM 6.04 feet High Tide
Tuesday 05/19/09 8:15PM Sunset
Tuesday 05/19/09 10:44PM 1.03 feet Low Tide]]> http://fripptide.com/blog/wayneblog.php?entry=73 Sunday 05/17/09 1:28PM Moonset
Sunday 05/17/09 2:46PM 5.41 feet High Tide
Sunday 05/17/09 8:14PM Sunset
Sunday 05/17/09 8:38PM 1.44 feet Low Tide]]> http://fripptide.com/blog/wayneblog.php?entry=72 2009-05-14 6:05 AM EDT 0.89 feet Low Tide
2009-05-14 6:24 AM EDT Sunrise
2009-05-14 10:38 AM EDT Moonset
2009-05-14 12:16 PM EDT 5.18 feet High Tide
2009-05-14 5:58 PM EDT 1.09 feet Low Tide
2009-05-14 8:12 PM EDT Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=71 2009-05-13 9:41 AM EDT Moonset
2009-05-13 11:27 AM EDT 5.31 feet High Tide
2009-05-13 5:17 PM EDT 0.86 feet Low Tide
2009-05-13 8:11 PM EDT Sunset
2009-05-13 11:51 PM EDT 6.02 feet High Tide]]> http://fripptide.com/blog/wayneblog.php?entry=70 2009-05-11 6:26 AM EDT Sunrise
2009-05-11 7:54 AM EDT Moonset
2009-05-11 10:02 AM EDT 5.71 feet High Tide
2009-05-11 4:02 PM EDT 0.40 feet Low Tide
2009-05-11 8:10 PM EDT Sunset
2009-05-11 10:26 PM EDT 6.57 feet High Tide
2009-05-11 10:52 PM EDT Moonrise]]> http://fripptide.com/blog/wayneblog.php?entry=69 2009-05-09 2:50 AM EDT -0.11 feet Low Tide
2009-05-09 6:22 AM EDT Moonset
2009-05-09 6:28 AM EDT Sunrise
2009-05-09 8:42 AM EDT 6.05 feet High Tide
2009-05-09 2:46 PM EDT -0.01 feet Low Tide
2009-05-09 8:08 PM EDT Sunset
2009-05-09 9:02 PM EDT Moonrise
2009-05-09 9:10 PM EDT 7.04 feet High Tide]]> http://fripptide.com/blog/wayneblog.php?entry=68 2009-05-08 5:44 AM EDT Moonset
2009-05-08 6:28 AM EDT Sunrise
2009-05-08 8:02 AM EDT 6.15 feet High Tide
2009-05-08 2:06 PM EDT -0.16 feet Low Tide
2009-05-08 8:02 PM EDT Moonrise
2009-05-08 8:07 PM EDT Sunset
2009-05-08 8:31 PM EDT 7.16 feet High Tide]]> http://fripptide.com/blog/wayneblog.php?entry=67 2009-05-07 5:10 AM EDT Moonset
2009-05-07 6:29 AM EDT Sunrise
2009-05-07 7:17 AM EDT 6.19 feet High Tide
2009-05-07 1:24 PM EDT -0.24 feet Low Tide
2009-05-07 7:01 PM EDT Moonrise
2009-05-07 7:51 PM EDT 7.17 feet High Tide
2009-05-07 8:07 PM EDT Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=66 2009-05-05 5:38 AM EDT 6.22 feet High Tide
2009-05-05 6:31 AM EDT Sunrise
2009-05-05 11:52 AM EDT -0.15 feet Low Tide
2009-05-05 4:59 PM EDT Moonrise
2009-05-05 6:19 PM EDT 6.86 feet High Tide
2009-05-05 8:05 PM EDT Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=65
Compared to the same period a year ago, pending home sales rose 1.1 percent.

Economists polled by Reuters had forecast pending home sales to be flat in March.

NAR chief economist Lawrence Yun attributed the rise in signed contracts for home purchases to first-time buyers taking advantage of favorable affordability conditions, including an $8,000 tax credit.]]> http://fripptide.com/blog/wayneblog.php?entry=64 2009-05-03 3:43 AM EDT 6.35 feet High Tide
2009-05-03 6:33 AM EDT Sunrise
2009-05-03 10:05 AM EDT 0.21 feet Low Tide
2009-05-03 2:55 PM EDT Moonrise
2009-05-03 4:28 PM EDT 6.31 feet High Tide
2009-05-03 8:04 PM EDT Sunset
2009-05-03 10:37 PM EDT 0.29 feet Low Tide]]> http://fripptide.com/blog/wayneblog.php?entry=63 2009-05-01 1:57 AM EDT Moonset
2009-05-01 6:35 AM EDT Sunrise
2009-05-01 7:58 AM EDT 0.37 feet Low Tide
2009-05-01 12:43 PM EDT Moonrise
2009-05-01 2:25 PM EDT 5.88 feet High Tide
2009-05-01 4:44 PM EDT First Quarter
2009-05-01 8:02 PM EDT Sunset
2009-05-01 8:21 PM EDT 0.43 feet Low Tide]]> http://fripptide.com/blog/wayneblog.php?entry=62 2009-04-30 1:12 AM EDT Moonset
2009-04-30 6:36 AM EDT Sunrise
2009-04-30 6:56 AM EDT 0.25 feet Low Tide
2009-04-30 11:34 AM EDT Moonrise
2009-04-30 1:21 PM EDT 5.81 feet High Tide
2009-04-30 7:13 PM EDT 0.24 feet Low Tide
2009-04-30 8:02 PM EDT Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=61 2009-04-29 6:01 AM EDT 0.04 feet Low Tide
2009-04-29 6:37 AM EDT Sunrise
2009-04-29 10:24 AM EDT Moonrise
2009-04-29 12:16 PM EDT 5.85 feet High Tide
2009-04-29 6:12 PM EDT -0.03 feet Low Tide
2009-04-29 8:01 PM EDT Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=60 2009-04-28 6:38 AM EDT Sunrise
2009-04-28 9:17 AM EDT Moonrise
2009-04-28 11:14 AM EDT 5.99 feet High Tide
2009-04-28 5:18 PM EDT -0.29 feet Low Tide
2009-04-28 8:00 PM EDT Sunset
2009-04-28 11:37 PM EDT 7.23 feet High Tide]]> http://fripptide.com/blog/wayneblog.php?entry=59 2009-04-25 6:38 AM EDT Moonrise
2009-04-25 6:41 AM EDT Sunrise
2009-04-25 8:48 AM EDT 6.32 feet High Tide
2009-04-25 2:53 PM EDT -0.49 feet Low Tide
2009-04-25 7:58 PM EDT Sunset
2009-04-25 8:59 PM EDT Moonset
2009-04-25 9:04 PM EDT 7.62 feet High Tide]]> http://fripptide.com/blog/wayneblog.php?entry=58 2009-04-24 6:00 AM EDT Moonrise
2009-04-24 6:42 AM EDT Sunrise
2009-04-24 8:05 AM EDT 6.27 feet High Tide
2009-04-24 2:07 PM EDT -0.35 feet Low Tide
2009-04-24 7:49 PM EDT Moonset
2009-04-24 7:57 PM EDT Sunset
2009-04-24 8:21 PM EDT 7.45 feet High Tide
2009-04-24 11:24 PM EDT New Moon]]> http://fripptide.com/blog/wayneblog.php?entry=57 2009-04-23 5:26 AM EDT Moonrise
2009-04-23 6:43 AM EDT Sunrise
2009-04-23 7:21 AM EDT 6.13 feet High Tide
2009-04-23 1:22 PM EDT -0.12 feet Low Tide
2009-04-23 6:42 PM EDT Moonset
2009-04-23 7:38 PM EDT 7.13 feet High Tide
2009-04-23 7:57 PM EDT Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=56
Indeed, the number of vacation homes sold fell 30 percent to 740,000 in 2007, from a record 1.07 million in 2006, according to NAR. The median price was $195,000 in 2007, down 2.5 percent over the prior year.

While the results have yet to be tallied for 2008, Molony notes demographics bode well for that segment over the next decade.

“The long-term underlying demand is favorable for vacation homes because of the large number of middle-age, middle income Americans [who are the primary buyers of such properties],” says Molony. “In recent years, this market has been driven by the baby boomers, but there are two even larger population groups coming up right behind them. Those younger segments will continue to fuel this market for the next 10 years.”
At the same time, NAR reports the housing affordability index rose 13.6 percent in January to 166.8, the highest since tracking began in 1970.

The January index, the most recent month for which data are available, indicates a median-income family, earning $59,800 could afford a home costing $283,400 in January with a 20 percent down payment, assuming 25 percent of gross income is devoted to mortgage principal and interest. A year ago, the same family could afford a home costing $263,300.

“If you have the resources and are confident about your economic future, you’re not going to find a better market than we’ve got today in terms of affordability and raw buying power,” says Molony. “It doesn’t get much better than this]]> http://fripptide.com/blog/wayneblog.php?entry=55 2009-04-22 4:57 AM EDT Moonrise
2009-04-22 6:35 AM EDT 5.95 feet High Tide
2009-04-22 6:44 AM EDT Sunrise
2009-04-22 12:37 PM EDT 0.16 feet Low Tide
2009-04-22 5:39 PM EDT Moonset
2009-04-22 6:54 PM EDT 6.71 feet High Tide
2009-04-22 7:56 PM EDT Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=54 Simply go to Fripptide.com and find the Market Snapshot, fill out the form and within minutes this comprehensive report will be sent to you on a monthly basis. I promise that no one will contact you unless you request it. This amazing service is a one of a kind service for Fripp Island residents. Tell your friends and neighbors they won’t be disappointed.]]> http://fripptide.com/blog/wayneblog.php?entry=53 2009-04-21 5:46 AM EDT 5.74 feet High Tide
2009-04-21 6:45 AM EDT Sunrise
2009-04-21 11:52 AM EDT 0.49 feet Low Tide
2009-04-21 4:39 PM EDT Moonset
2009-04-21 6:07 PM EDT 6.25 feet High Tide
2009-04-21 7:55 PM EDT Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=52
Nothaft said loan modifications in private-label securities are key to foreclosure reduction.

He noted that Federal Housing Administration lending is up sharply, with FHA loans at the largest share of the U.S. housing market since 1942, and mortgage rates are at a 50-year low.

Freddie Mac is the second largest provider of home financing in the United States.]]> http://fripptide.com/blog/wayneblog.php?entry=51 2009-04-20 4:54 AM EDT 5.57 feet High Tide
2009-04-20 6:46 AM EDT Sunrise
2009-04-20 11:05 AM EDT 0.83 feet Low Tide
2009-04-20 3:40 PM EDT Moonset
2009-04-20 5:17 PM EDT 5.80 feet High Tide
2009-04-20 7:55 PM EDT Sunset
2009-04-20 11:28 PM EDT 0.94 feet Low Tide]]> http://fripptide.com/blog/wayneblog.php?entry=50 2009-04-19 6:47 AM EDT Sunrise
2009-04-19 10:13 AM EDT 1.13 feet Low Tide
2009-04-19 2:42 PM EDT Moonset
2009-04-19 4:24 PM EDT 5.43 feet High Tide
2009-04-19 7:54 PM EDT Sunset
2009-04-19 10:31 PM EDT 1.26 feet Low Tide]]> http://fripptide.com/blog/wayneblog.php?entry=49 http://fripptide.com/blog/wayneblog.php?entry=48 2009-04-18 3:05 AM EDT 5.42 feet High Tide
2009-04-18 6:48 AM EDT Sunrise
2009-04-18 9:17 AM EDT 1.34 feet Low Tide
2009-04-18 1:45 PM EDT Moonset
2009-04-18 3:29 PM EDT 5.17 feet High Tide
2009-04-18 7:53 PM EDT Sunset
2009-04-18 9:27 PM EDT 1.46 feet Low Tide]]> http://fripptide.com/blog/wayneblog.php?entry=47 http://fripptide.com/blog/wayneblog.php?entry=46 2009-04-16 1:45 AM EDT Moonrise
2009-04-16 6:51 AM EDT Sunrise
2009-04-16 7:23 AM EDT 1.27 feet Low Tide
2009-04-16 11:50 AM EDT Moonset
2009-04-16 1:41 PM EDT 5.02 feet High Tide
2009-04-16 7:19 PM EDT 1.34 feet Low Tide
2009-04-16 7:52 PM EDT Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=45 2009-04-15 1:00 AM EDT Moonrise
2009-04-15 6:35 AM EDT 1.01 feet Low Tide
2009-04-15 6:52 AM EDT Sunrise
2009-04-15 10:54 AM EDT Moonset
2009-04-15 12:48 PM EDT 5.13 feet High Tide
2009-04-15 6:28 PM EDT 1.09 feet Low Tide
2009-04-15 7:51 PM EDT Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=44 Simply go to Fripptide.com and find the Market Snapshot, fill out the form and within minutes this comprehensive report will be sent to you on a monthly basis. I promise that no one will contact you unless you request it. This amazing service is a one of a kind service for Fripp Island residents. Tell your friends and neighbors they won’t be disappointed.]]> http://fripptide.com/blog/wayneblog.php?entry=43 2009-04-14 5:53 AM EDT 0.67 feet Low Tide
2009-04-14 6:53 AM EDT Sunrise
2009-04-14 10:01 AM EDT Moonset
2009-04-14 11:58 AM EDT 5.35 feet High Tide
2009-04-14 5:46 PM EDT 0.79 feet Low Tide
2009-04-14 7:50 PM EDT Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=42 2009-04-13 6:54 AM EDT Sunrise
2009-04-13 9:11 AM EDT Moonset
2009-04-13 11:13 AM EDT 5.63 feet High Tide
2009-04-13 5:08 PM EDT 0.46 feet Low Tide
2009-04-13 7:50 PM EDT Sunset
2009-04-13 11:38 PM EDT 6.23 feet High Tide]]> http://fripptide.com/blog/wayneblog.php?entry=41 2009-04-12 6:56 AM EDT Sunrise
2009-04-12 8:26 AM EDT Moonset
2009-04-12 10:30 AM EDT 5.94 feet High Tide
2009-04-12 4:31 PM EDT 0.13 feet Low Tide
2009-04-12 7:49 PM EDT Sunset
2009-04-12 10:56 PM EDT 6.58 feet High Tide
2009-04-12 11:14 PM EDT Moonrise]]> http://fripptide.com/blog/wayneblog.php?entry=40 2009-04-10 6:58 AM EDT Sunrise
2009-04-10 7:10 AM EDT Moonset
2009-04-10 9:10 AM EDT 6.47 feet High Tide
2009-04-10 3:16 PM EDT -0.41 feet Low Tide
2009-04-10 7:48 PM EDT Sunset
2009-04-10 9:13 PM EDT Moonrise
2009-04-10 9:37 PM EDT 7.16 feet High Tide]]> http://fripptide.com/blog/wayneblog.php?entry=39 2009-04-09 6:38 AM EDT Moonset
2009-04-09 6:59 AM EDT Sunrise
2009-04-09 8:29 AM EDT 6.62 feet High Tide
2009-04-09 10:55 AM EDT Full Moon
2009-04-09 2:36 PM EDT -0.56 feet Low Tide
2009-04-09 7:47 PM EDT Sunset
2009-04-09 8:10 PM EDT Moonrise
2009-04-09 8:57 PM EDT 7.28 feet High Tide]]> http://fripptide.com/blog/wayneblog.php?entry=38 Simply go to Fripptide.com and find the Market Snapshot, fill out the form and within minutes this comprehensive report will be sent to you on a monthly basis. I promise that no one will contact you unless you request it. This amazing service is a one of a kind service for Fripp Island residents. Tell your friends and neighbors they won’t be disappointed.]]> http://fripptide.com/blog/wayneblog.php?entry=37 2009-04-08 6:07 AM EDT Moonset
2009-04-08 7:00 AM EDT Sunrise
2009-04-08 7:46 AM EDT 6.67 feet High Tide
2009-04-08 1:54 PM EDT -0.59 feet Low Tide
2009-04-08 7:08 PM EDT Moonrise
2009-04-08 7:46 PM EDT Sunset
2009-04-08 8:16 PM EDT 7.25 feet High Tide]]> http://fripptide.com/blog/wayneblog.php?entry=36 Simply go to Fripptide.com and find the Market Snapshot, fill out the form and within minutes this comprehensive report will be sent to you on a monthly basis. I promise that no one will contact you unless you request it. This amazing service is a one of a kind service for Fripp Island residents. Tell your friends and neighbors they won’t be disappointed.

Wayne Zerler, Realtor
Fripp Island Real Estate Company
843-812-3645]]> http://fripptide.com/blog/wayneblog.php?entry=35 http://fripptide.com/blog/wayneblog.php?entry=34 2009-04-07 5:37 AM EDT Moonset
2009-04-07 6:58 AM EDT 6.62 feet High Tide
2009-04-07 7:02 AM EDT Sunrise
2009-04-07 1:09 PM EDT -0.48 feet Low Tide
2009-04-07 6:06 PM EDT Moonrise
2009-04-07 7:31 PM EDT 7.04 feet High Tide
2009-04-07 7:46 PM EDT Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=33 http://fripptide.com/blog/wayneblog.php?entry=32 2009-04-06 6:05 AM EDT 6.52 feet High Tide
2009-04-06 7:03 AM EDT Sunrise
2009-04-06 12:20 PM EDT -0.25 feet Low Tide
2009-04-06 5:02 PM EDT Moonrise
2009-04-06 6:42 PM EDT 6.71 feet High Tide
2009-04-06 7:45 PM EDT Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=31 2009-04-04 4:01 AM EDT 6.35 feet High Tide
2009-04-04 7:05 AM EDT Sunrise
2009-04-04 10:29 AM EDT 0.40 feet Low Tide
2009-04-04 2:51 PM EDT Moonrise
2009-04-04 4:43 PM EDT 5.91 feet High Tide
2009-04-04 7:44 PM EDT Sunset
2009-04-04 10:53 PM EDT 0.09 feet Low Tide]]> http://fripptide.com/blog/wayneblog.php?entry=30 2009-04-03 3:14 AM EDT Moonset
2009-04-03 7:07 AM EDT Sunrise
2009-04-03 9:22 AM EDT 0.63 feet Low Tide
2009-04-03 1:42 PM EDT Moonrise
2009-04-03 3:37 PM EDT 5.63 feet High Tide
2009-04-03 7:43 PM EDT Sunset
2009-04-03 9:44 PM EDT 0.33 feet Low Tide]]> http://fripptide.com/blog/wayneblog.php?entry=29 2009-04-02 2:25 AM EDT Moonset
2009-04-02 7:08 AM EDT Sunrise
2009-04-02 8:11 AM EDT 0.66 feet Low Tide
2009-04-02 10:34 AM EDT First Quarter
2009-04-02 12:32 PM EDT Moonrise
2009-04-02 2:30 PM EDT 5.49 feet High Tide
2009-04-02 7:42 PM EDT Sunset
2009-04-02 8:31 PM EDT 0.39 feet Low Tide]]> http://fripptide.com/blog/wayneblog.php?entry=28
Economists polled by Reuters ahead of the report were expecting pending home sales to rise by 1.0 percent.

"Pending home sales have a way to go for there to be a meaningful increase," said NAR chief economist Lawrence Yun.

The report came as the Mortgage Bankers Association said US mortgage rates set fresh record lows last week, fostering demand for refinancing that drove home loan applications to the highest level since mid-January.]]> http://fripptide.com/blog/wayneblog.php?entry=27 2009-04-01 1:27 AM EDT Moonset
2009-04-01 7:06 AM EDT 0.47 feet Low Tide
2009-04-01 7:09 AM EDT Sunrise
2009-04-01 11:25 AM EDT Moonrise
2009-04-01 1:23 PM EDT 5.50 feet High Tide
2009-04-01 7:21 PM EDT 0.24 feet Low Tide
2009-04-01 7:41 PM EDT Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=26 2009-03-31 6:09 AM EDT 0.19 feet Low Tide
2009-03-31 7:11 AM EDT Sunrise
2009-03-31 10:23 AM EDT Moonrise
2009-03-31 12:19 PM EDT 5.64 feet High Tide
2009-03-31 6:22 PM EDT -0.01 feet Low Tide
2009-03-31 7:41 PM EDT Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=25 http://fripptide.com/blog/wayneblog.php?entry=24
But higher home prices are just one of several factors contributing to the challenge of rising housing expenses today.

The Center for Housing Policy reports that between 1996 and 2006 all major categories of homeowner expenses increased faster than incomes.

Mortgage payments increased 46 percent, utilities 43 percent, property taxes 66 percent and property insurance 83 percent. By contrast, homeowner incomes increased by 36.3 percent


And since 2006, the cost of heating oil, natural gas and gasoline have further stretched families’ budgets.

“By documenting the substantial increases in a wide variety of housing expenses, this study shows that the nation’s housing concerns extend beyond higher mortgage payments,” said Center for Housing Policy Chairman John McIlwain. “To get the American economy back on its feet, we will need to look comprehensively at helping Americans afford the full ‘costs of place,’ which include the costs of shelter, utilities and transportation.”

Already, however, data suggest the market is starting to give homebuyers a much-needed break.

The National Association of Realtors reports the housing affordability index rose 13.6 percent in January to 166.8, the highest since tracking began in 1970.

The January index, the most recent month for which data are available, indicates a median-income family, earning $59,800 could afford a home costing $283,400 in January with a 20 percent down payment, assuming 25 percent of gross income is devoted to principal-and-interest costs. A year ago, the same family could afford a home costing $263,300.]]> http://fripptide.com/blog/wayneblog.php?entry=23 2009-03-29 7:13 AM EDT Sunrise
2009-03-29 8:42 AM EDT Moonrise
2009-03-29 10:34 AM EDT 6.09 feet High Tide
2009-03-29 4:44 PM EDT -0.42 feet Low Tide
2009-03-29 7:39 PM EDT Sunset
2009-03-29 10:53 PM EDT 7.10 feet High Tide
2009-03-29 11:15 PM EDT Moonset]]> http://fripptide.com/blog/wayneblog.php?entry=22
Indeed, the residential real estate market of 2009 bears little resemblance to the one our grandparents helped create.

“The real estate market looks a lot different than it did even three years ago,” says Rachel Drew, a research analyst for the Joint Center for Housing Studies at Harvard University. “From people’s incomes to home prices to construction levels, the entire landscape has changed very dramatically in a very short amount of time and nobody really knows what it will look like going forward.”

Some of the most significant changes, of course, have occurred over the last few weeks as the new administration earmarks billions of dollars to stabilize the troubled housing sector.

Others include long-term market forces that continue to evolve amid the recession, including housing affordability, exotic loan products and rates of homeownership.

All, however, are likely to reshape the housing market for generations to come.]]> http://fripptide.com/blog/wayneblog.php?entry=21 2009-03-28 7:14 AM EDT Sunrise
2009-03-28 8:03 AM EDT Moonrise
2009-03-28 9:52 AM EDT 6.26 feet High Tide
2009-03-28 4:01 PM EDT -0.48 feet Low Tide
2009-03-28 7:39 PM EDT Sunset
2009-03-28 10:06 PM EDT Moonset
2009-03-28 10:07 PM EDT 7.18 feet High Tide]]> http://fripptide.com/blog/wayneblog.php?entry=20 2009-03-27 7:16 AM EDT Sunrise
2009-03-27 7:29 AM EDT Moonrise
2009-03-27 9:13 AM EDT 6.35 feet High Tide
2009-03-27 3:20 PM EDT -0.45 feet Low Tide
2009-03-27 7:38 PM EDT Sunset
2009-03-27 8:59 PM EDT Moonset
2009-03-27 9:26 PM EDT 7.13 feet High Tide]]> http://fripptide.com/blog/wayneblog.php?entry=19 2009-03-26 6:58 AM EDT Moonrise
2009-03-26 7:17 AM EDT Sunrise
2009-03-26 8:36 AM EDT 6.35 feet High Tide
2009-03-26 12:08 PM EDT New Moon
2009-03-26 2:39 PM EDT -0.32 feet Low Tide
2009-03-26 7:37 PM EDT Sunset
2009-03-26 7:55 PM EDT Moonset
2009-03-26 8:47 PM EDT 6.95 feet High Tide]]> http://fripptide.com/blog/wayneblog.php?entry=18
There are some fantastic deals out there and as more people begin to realize that, competition will come back and drive a significant amount of activity," he said.

The Mortgage Bankers seasonally adjusted index of refinancing applications surged 41.5 percent to 6,363.2. The index was up 49.5 percent from its year-ago level of 4,255.2.

The refinance share of applications increased to 78.5 percent from 72.9 percent the previous week.

The adjustable-rate mortgage share of activity decreased to 1.4 percent in the latest week, down from 2.0 percent the previous week.

Fixed 15-year mortgage rates averaged 4.48 percent, down from 4.52 percent the previous week.

Rates on one-year ARMs increased to 6.22 percent from 6.20 percent.]]> http://fripptide.com/blog/wayneblog.php?entry=17 2009-03-25 6:29 AM EDT Moonrise
2009-03-25 7:18 AM EDT Sunrise
2009-03-25 7:58 AM EDT 6.25 feet High Tide
2009-03-25 2:00 PM EDT -0.12 feet Low Tide
2009-03-25 6:54 PM EDT Moonset
2009-03-25 7:37 PM EDT Sunset
2009-03-25 8:10 PM EDT 6.66 feet High Tide]]> http://fripptide.com/blog/wayneblog.php?entry=16
A 2009 NAR study finds 84 percent of vacation homebuyers were most interested in owning a family retreat, while 25 percent bought with the intent to rent to others and 26 percent are looking to help diversify their investment portfolio.

A smaller percentage – 30 percent – expect to use their vacation home as their principal residence in the future.

Regardless of your intent for a vacation property, however, Boykin notes it’s important to buy with resale value in mind.

Look for views, proximity to amenities and established resort communities, he says, especially if you hope to rent it out part-time.

It’s also best to stay within driving distance of your primary home, enabling you to enjoy your vacation retreat more often and pop in to address problems as they arise.

First-hand knowledge of the market will also help you avoid buying into a community that’s on the outs.

Indeed, the number of vacation homes sold fell 30 percent to 740,000 in 2007, from a record 1.07 million in 2006, according to NAR. The median price was $195,000 in 2007, down 2.5 percent over the prior year.

While the results have yet to be tallied for 2008, Molony notes demographics bode well for that segment over the next decade.

“The long-term underlying demand is favorable for vacation homes because of the large number of middle-age, middle income Americans [who are the primary buyers of such properties],” says Molony. “In recent years, this market has been driven by the baby boomers, but there are two even larger population groups coming up right behind them. Those younger segments will continue to fuel this market for the next 10 years.”

At the same time, NAR reports the housing affordability index rose 13.6 percent in January to 166.8, the highest since tracking began in 1970.

The January index, the most recent month for which data are available, indicates a median-income family, earning $59,800 could afford a home costing $283,400 in January with a 20 percent down payment, assuming 25 percent of gross income is devoted to mortgage principal and interest. A year ago, the same family could afford a home costing $263,300.

“If you have the resources and are confident about your economic future, you’re not going to find a better market than we’ve got today in terms of affordability and raw buying power,” says Molony. “It doesn’t get much better than this.”]]> http://fripptide.com/blog/wayneblog.php?entry=15 2009-03-24 6:01 AM EDT Moonrise
2009-03-24 7:18 AM EDT 6.06 feet High Tide
2009-03-24 7:20 AM EDT Sunrise
2009-03-24 1:19 PM EDT 0.15 feet Low Tide
2009-03-24 5:54 PM EDT Moonset
2009-03-24 7:30 PM EDT 6.29 feet High Tide
2009-03-24 7:36 PM EDT Sunset]]> http://fripptide.com/blog/wayneblog.php?entry=14 In the quest for attractive, durable cabinets, homeowners often overspend. Opt for painted wood and forgo fancy detail to cut the price of custom work by about half. The brand-new cabinets pictured at right cost just $15,000.
Save: $15,000

2. Use wood for floors
Wood costs $10 per square foot, vs. $20 for ceramic tiles. That would save $3,000 for a 300-square-foot room. And wood lasts far longer than vinyl.
Save: $3,000

3. Don't move windows and doors
Replace old doors and windows, but keep the same location and size to save about $500 per opening. If you don't move the sink, you'll save another $500.
Save: $1,000

4. Stick to mid-range appliances
Vikings and Sub-Zeros are great, but the mid-range GE models offer everything an amateur chef needs for thousands less. Think you'll trade up later? Size the space to accommodate higher-end units.
Save: $4,000

5. Open the ceiling
Adding a couple hundred square feet to your floor plan will cost at least ten grand. Instead, put in a skylight ($1,500) and raise the ceiling to the rafters (about $2,500), which will give you the same sense of spaciousness.
Save: $6,000]]> http://fripptide.com/blog/wayneblog.php?entry=13 2009-03-22 5:43 AM EDT 5.57 feet High Tide
2009-03-22 7:22 AM EDT Sunrise
2009-03-22 11:53 AM EDT 0.81 feet Low Tide
2009-03-22 3:57 PM EDT Moonset
2009-03-22 5:59 PM EDT 5.46 feet High Tide
2009-03-22 7:35 PM EDT Sunset
Sunny 70 for the High]]> http://fripptide.com/blog/wayneblog.php?entry=12 http://fripptide.com/blog/wayneblog.php?entry=11
Zillow Mortgage Marketplace reports that overnight rates fell well over a quarter percentage point. But there is a big barrier standing in the way of even bigger rate drops, and that is warehouse lending. Ok, what is that?

While you hear so much about the big banks like Bank of America and JP Morgan working to offer more loans, the fact is that 40 percent of the residential mortgage market is made up of non-depository lenders. These are mortgage lenders that aren't traditional banks. They tend to be more local, like First Savings of Virginia.

Anyway, these lenders rely on warehouse lending to get the cash they use to give you a loan. Warehouse lenders are large banks or commercial banks.

Here's the problem, explained by Glen Corso of the Warehouse Lending Project.

Over the past several years we've had a reduction of about 90% in the amount of warehouse credit that's available, so that reduction in warehouse credit is coming at the same time that there's a big surge in application volume, and these nondepository lenders are struggling to make the loans that people are seeking from them in order to refinance their mortgages.]]> http://fripptide.com/blog/wayneblog.php?entry=10 2009-03-20 10:09 AM EDT 1.35 feet Low Tide
2009-03-20 2:01 PM EDT Moonset
2009-03-20 4:08 PM EDT 4.90 feet High Tide
2009-03-20 7:33 PM EDT Sunset
2009-03-20 10:13 PM EDT 1.20 feet Low Tide
Patly Cloudy 68 for High]]> http://fripptide.com/blog/wayneblog.php?entry=9 2009-03-19 3:08 AM EDT Moonrise
2009-03-19 7:26 AM EDT Sunrise
2009-03-19 9:07 AM EDT 1.42 feet Low Tide
2009-03-19 1:04 PM EDT Moonset
2009-03-19 3:10 PM EDT 4.83 feet High Tide
2009-03-19 7:32 PM EDT Sunset
2009-03-19 9:06 PM EDT 1.29 feet Low Tide
Partly Cloudy 74 for High]]> http://fripptide.com/blog/wayneblog.php?entry=8 http://fripptide.com/blog/wayneblog.php?entry=7 http://fripptide.com/blog/wayneblog.php?entry=6 High 2:15 pm
Partly Cloudy 68 for the High]]> http://fripptide.com/blog/wayneblog.php?entry=5 http://fripptide.com/blog/wayneblog.php?entry=2 http://fripptide.com/blog/wayneblog.php?entry=1