To properly start this newsletter, allow me to quote myself from my last newsletter: "Everyone is all up in arms about Fannie Mae and Freddie Mac. The big concern on Wall Street is that these two mortgage giants are going to collapse under the weight of all these bad loans that they have been accumulating over the course of the past five years. If they did happen to close their doors, it would cause a catastrophic chain reaction across the mortgage, finance and real estate markets that [...]
There are more signs this week that nationally, the slump in the market may have reached its low point. (Don't smack me, I said "may" ok?) The most recent news from Las Vegas is that having been designated as one of the leading foreclosure cities in the United States, sales are edging up and prices holding steady. The Las Vegas Sun reports condo sales were up in July by 18 percent compared to the same time last year. Buyers seem to be moving off the sidelines as prices have slipped 31% in the[...]
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