What’s the deal on Reverse Mortgages?

I’m sure you have seen one of the TV commercials where the couple says we have paid for our home and now it’s time for our home to pay us.  Well a “reverse mortgage” does just that.  It’s similar to the regular home equity loan where you borrow against your equity, but you don’t make [...]

Filed under: Mortgage and Lending by Dwight's Real Estate Update
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Hurricane Ike Blows Away September Sales

According to the recent press release from the Houston Assn of Realtors, property sales in the Houston area declined further in September, due largely to the widespred devastation caused by Hurricane Ike and the resulting interruption to many real estate transactions.
As in previous months, the average price of a single-family home held its ground.  In fact the [...]

Filed under: Buying, Home Sales, Selling by Dwight's Real Estate Update
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A Ray of Hope

A little bit of good news.  New home sales across the country increased 2.7% in september.  It’s too early to say if this is a trend, but it is good to see positive news.  Overall new home sales had been down 33% for the year.  Builders have been making some progress in moving out the [...]

Filed under: Buying, Home Sales, Selling by Dwight's Real Estate Update
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