Champaign County Real Estate News Blog

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Real Estate Agent - Green Street Realty
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RECENT BLOG POSTS
According to a Treasury Department's report on the 500 financial institutions that received funding under the Capital Purchase Program, the amount of loans outstanding fell 0.8% in March to $5.24 trillion from $5.28 trillion in February. Consumer loans outstanding, including residential mortgages...
06/02/2009
Pending US home sales skyrocketed to their highest number in 7 years, a sure sign that the bottom is forming and that bargain seekers have arrived.  The National Association of Realtors reported that its seasonally adjusted index of sales contracts signed (the Pending Home Sales Index) jumped 6.7...
06/02/2009
The Obama administration is planning to finalize health care reform this year. The reform will include specifying requirements for minimum benefits, highlighting conditions for coverage denial, and guarantees for affordable health care. Analysts estimate that it could take well over $1 trillion t...
06/01/2009
Oil prices have risen 48% to $65 per barrel in the last five weeks. Oil, being an essential commodity in any economy, becomes dearer as its demand grows on account of recovery in the global economy. In addition, the U.S. dollar has depreciated against a basket of currencies in the last 5 weeks. A...
06/01/2009
Mortgage rates have risen to their highest level in the last 3 months. The average rate for a 30-year fixed mortgage jumped to 5.44% yesterday. This is in line with the steep increase in the yields of long-term treasury bonds. The 30-year rate was at a record low of 4.78% in April. The decision o...
06/01/2009
As the unemployment rate threatens get into double digits from the current rate of about 9%, analysts expect foreclosures to go up significantly in future. The new wave of foreclosures will include not only sub-prime borrowers, but also borrowers who were once financially healthy but are falling ...
05/28/2009
According to a survey conducted by Bloomberg News, resales of home rose by 2% in April from March. Falling prices, tax credits, and low mortgage rates may be contributing to an increase in home resales. The rise in foreclosures also helped home resales. Foreclosed properties accounted for 50% of ...
05/28/2009
With property values declining, can homeowners expect to pay lower property taxes? Yes, in some cases. Property values are reappraised by assessors in cities and counties annually or biannually. The reassessment happens on the basis of recent sales of comparable properties in the neighborhood. Pr...
05/28/2009
According to the National Association of Realtors (NAR), home sales rose 2.9% in April from March. While sales in the low-end properties segment have risen, the market for high-end properties is still sluggish. Sherry Chris, chief executive of Better Homes and Gardens Real Estate, says, "We're lo...
05/28/2009
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Regulators have told Bank of America it needs $34 billion of capital, Citigroup needs $5 billion, Wells Fargo needed $15 billion, Morgan Stanley needs $1.5 billion and GMAC needs $11.5 billion, according to recent leaks.  The reported capital shortfalls are much larger than analysts had expected,...
05/07/2009
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Aaron Gallagher

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