Anibal Fragoso's Real Estate Blog

By Realty Times Staff

April 16, 2010

McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.07 percent with an average 0.6 point for the week ending April 15, 2010, down from last week when it averaged 5.21 percent. Last year at this time, the 30-year FRM averaged 4.82 percent.

The 15-year FRM this week averaged 4.40 percent with an average 0.7 point, down from last week when it averaged 4.52 percent. A year ago at this time, the 15-year FRM averaged 4.48 percent.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.08 percent this week, with an average 0.6 point, down from last week when it averaged 4.25 percent.  A year ago, the 5-year ARM averaged 4.88 percent.

The 1-year Treasury-indexed ARM averaged 4.13 percent this week with an average 0.5 point, down from last week when it averaged 4.14 percent. At this time last year, the 1-year ARM averaged 4.91 percent.

“After rising for four consecutive weeks, mortgage rates eased back to where they were two weeks ago and still remain historically low,” said Frank Nothaft, Freddie Mac vice president and chief economist. “The Federal Reserve (Fed) indicated in its April 14th regional business survey that consumer prices generally remained level and producers had difficulty passing along increases in some raw materials. This will likely keep inflation at bay as evidenced by the 1.1 percent growth in core consumer prices for the 12-months ending in March 2010, which was the lowest annual increase since January 2004.”

“Low mortgage rates continue to help stabilize the housing market. The Fed noted that residential activity increased while home prices were stable across most of its 12 Districts over the six weeks prior to April 5th. In addition, credit standards remained generally unchanged across the nation, while credit quality was mixed according to the report.”

Copyright © 2010 Realty Times. All Rights Reserved.

By Broderick Perkins

April 15, 2010

Provided your home-for-sale has the curb appeal to get potential buyers inside, keeping them inside for a further look requires a staging strategy that sticks the deal.HGTV’s FrontDoor.com offers what it considers the Top 10 tips that can turn a languishing listing to a multiple offer attraction.

• Reclaim the yard. First impressions rule. Spruce up curb appeal by maintaining a clean yard, adding plants for a splash of color and applying a fresh coat of paint to the front door.

• Let the foyer flourish. The home portal sets the tone for the entire home. Make the space up-to-date, well-maintained and eye catching — top to bottom.

• Back off beige. Don’t let neutral colored walls dominate a room. Splashes of color liven up boring spaces. Throw pillows, artwork and fresh flowers add pops of color and personality.

• Cure kitchen craziness. Consistency pleases. All countertops and cabinets should match. New hardware, a new backsplash and a thorough cleaning can transform a bleak kitchen into one with smiles.

• Denude the dining room. De-cluttering and depersonalizing is the first rule of home staging. Homebuyers can have trouble envisioning themselves living in a home that’s full of the seller’s personal items.

• Avoid focal point faux-pas. Highlight the great features in a home by positioning furniture to highlight them. Windows, fireplaces and other architectural details will be noticed by a buyer if they are emphasized in the home correctly.

• Perk up the patio. The outdoor space is an extension of the home. Capture a higher selling price by cleaning and adding style to any outdoor space with furniture, lighting and accessories.

• Master the master suite. The best approach to staging is often working with existing accessories. Using what is already in the room and repositioning the furniture will highlight the room’s best features.

• Cure bathroom blues. Older vanities and dreadful wallpaper will make any bathroom feel outdated. Apply a fresh coat of neutral-hued paint and new hardware to modernize and brighten.

• Repurpose extra rooms. The value of a space decreases when homebuyers see a room without direction (think part office, part playroom, part home gym). Though almost every homeowner is guilty of having a “junk room,” take sure to stage each room with a clear purpose before putting the home on the market.

Copyright © 2010 Realty Times. All Rights Reserved.