Tom's Blog

Everyone is very concerned about the debt rating downgrade right now.  However, the economy is the main driver for current housing market conditions.  Greg McBridge, senior financial analyst at Bankrate.com, says that "as long as the economy continues to limp along, interest rates will not increase."  This is great news ...

Home prices have continued to drop during the first quarter of 2011, dropping 4.6% from a year earlier according to CNNMoney.com and the National Association of Realtors.  Condo prices fell ever harder by a rate of 10.4%.  The main cause for this decline is the sale of foreclosed properties, which accounted for 29% of the market - a 3% ...

According to REUTERS, U.S housing starts rose more than expected in January to their highest rate in four months, but permits for future home construction dropped sharply despite large gains in prior months.  This data was sourced from a government report on Wednesday released 2/16/11.  The report also showed the housing market still ...

According to CNNMoney.com, Bank of America is halting foreclosure sales in all 50 states as part of a widening investigation into the flaws in the foreclosure process.  This announcement comes a week after BOA froze home foreclosures in the 23 states where foreclosures must be approved by courts.  Today's announcement will extend a ...

If you have been holding off on a real estate purchase, signs of a turnaround in the housing market may have you wondering if it is finally time to make your move.  While home prices remain low, they are no longer free-falling in most markets (definitely not in the local Philadelphia area).  Mortgage rates are at historical lows.  ...

Pending home sales rose again in October, marking the 9th consecutive month this figure has risen according to the National Association of Realtors.  The Pending Home Sale Index, which is a forward looking indicator based on the number of contracts signed in October, rose 3.7% in October and is 31.8% higher than the October 2008 ...