Phil DePasquale's (sedonarrealtor) Blog

Freddie Mac recently reported a first quarter loss of $151 million. However, this is a vast improvement over the Q4 numbers of a $2.5 billion dollar loss. The GSE (government-sponsored enterprise) said the drastic change is due to benefiting from lower mark-to-market losses, and the adoption of i...

Phoenix Area Home Sales Up Resale housing over the Metropolitan Phoenix, Arizona, is on the rise.  According to recorded sales contracts, April of this year showed 5,585 home closings, up from 4,855 for this period a year ago, and 4,335 recorded sales in March. Sales exceeded last year's sales by...

The fate of a plan to authorize the Federal Housing Administration to guarantee up to $300 billion in loans to help troubled borrowers refinance into more affordable mortgages could be decided Thursday by members of the Senate Banking Committee.  This will be interesting to watch..... Committee C...

Yesterday, Fannie Mae reported net losses of $2.19 billion for the first quarter of 2008.  This is the company's third consecutive quarterly loss.The quarterly loss for the Washington D.C.-based company, considered a government-sponsored enterprise (GSE), was only the second timely filing by Fann...

President Bush will undoubtedly Veto, Congresses new housing assistance package that was recently passed, primarily because he believes that it only rewards real estate investors and speculators.  Look for a Republican version of a housing assistance program to be presented to the House of Repres...

The mounting credit woes of investors are now affecting the ability of banks and student loan institutions to lend.   According to the Federal Reserve, the percentage of banks reporting tighter lending standards is reaching historic highs.   College students say the loans that are available have ...

According to the National Association of Realtors, it appears that many real estate markets across the U.S. are beginning to flatten out - very good news.  Although it could be a couple of months before we see a significant rise in the overall number of real estate transactions, it appears that h...

Fed Cuts Rate Again   Well, the Federal Reserve was at it again.  Recently, it cut the Fed's Fund rate from 2.25% to 2.0% - remember that this is the interest rate charged for overnight borrowing from the Federal Reserve Bank.   While freeing up lenders' liquidity and allowing them to earn intere...

Countrywide and Bankruptcy Abuse Countrywide is on the ‘hot seat' again.  A Senate Judiciary subcommittee, recently heard testimony regarding allegations that Countrywide abused bankruptcy laws to overcharge struggling borrowers, with one company executive admitting that employees made mistakes "...

NEEDHAM, Mass., April 29 /PRNewswire/ -- TripAdvisor®, the world's largest travel community, today announced the winners of its 2008 Travelers' Choice® Destinations Awards. In its inaugural year, the TripAdvisor Travelers' Choice Destinations Awards honor the world's top destinations, earning the...