Lesley's Blog

"If you don't like cookie-cutter housing, you're not going to like the next several years," says analyst.

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Daily Real Estate News  |  January 22, 2008Fed Issues Emergency Rate-Cut
The Federal Reserve, in an emergency meeting on Tuesday, slashed the key rate to 3.5 percent, citing a weakening economic outlook. The move marks the Fed's biggest rate cut — three quarters of a point — in more than 20 years.

As fears of a recession looms, the Fed said the rate-cut was to help restore confidence in the U.S. economy.

http://www.realtor.org/RMODaily.nsf/pages/News2008012201?OpenDocument

The National Association of Realtors Research Update indicates the following in the current market...

http://www.realtor.org/press_room/news_releases/2008/pshi_jan08_stable_existing_home_sales.html

Hi Everyone!

Just so you are all aware, a law did pass on Dec 20 in which President Bush signed it into law a 3-year moratorium on the IRS collecting on the forgiven mortgage debt  Per Rep Kline’s office, congress is trying to make it permanent, but for now it is 3 years Follow this link below to see the story from the White House there are links to the stories on the right side of the page. I’m sure that being so close to the holidays, many missed the news.

 http://www.whitehouse.gov/infocus/homeownership/

"If you don't like cookie-cutter housing, you're not going to like the next several years," says analyst.

Read more >