Cost More to do FHA

It appears that hte cost to obtain an FHA loan is going up.

FHA TAKES ADDITIONAL STEPS TO BOLSTER CAPITAL RESERVES
New premium structure will help protect FHA’s MMI fund

WASHINGTON – As part of ongoing efforts to encourage the return of private capital in the residential mortgage market and strengthen the Federal Housing Administration’s (FHA) Mutual Mortgage Insurance Fund, Acting FHA Commissioner Carol Galante today announced a new premium structure for FHA-insured single family mortgage loans.  FHA will increase its annual mortgage insurance premium (MIP) by 0.10 percent for loans under $625,500 and by 0.35 percent for loans above that amount.  Upfront premiums (UFMIP) will also increase by 0.75 percent. 

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Kevin R Smith, Your HomeSmity

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Lake Villa Number of Sales

Number of sales have fallen but listings are also down.

60046, Lake Villa Recently Sold Homes

Kevin R Smith, Your HomeSmity

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Kevin R Smith, Broker Associate RE/MAX Center, Phone: 847 231 7618 Kevin@HomeSmity.com

Lake Villa Median Values Up!

Listing have seemed to fall but prices are up

Lake Villa Recently Sold Homes

Kevin R Smith, Your HomeSmity

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Kevin R Smith, Broker Associate RE/MAX Center, Phone: 847 231 7618 Kevin@HomeSmity.com

Lake Villa Price per/sq ft

60046, Lake Villa Recently Sold Homes

Kevin R Smith, Your HomeSmity

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Kevin R Smith, Broker Associate RE/MAX Center, Phone: 847 231 7618 Kevin@HomeSmity.com

Number of Lake Villa Listings DOWN

When Listings go down amny time prices go up!

Lake Villa Homes For Sale

Kevin R Smith, Your HomeSmity

Thinking of making a move? Log onto my website at www.HomeSmity.com and search from over 150,000 Northern Illinois Homes for sale. Registering is quick and easy! 

Kevin R Smith, Broker Associate RE/MAX Center, Phone: 847 231 7618 Kevin@HomeSmity.com

December Home Sales Down

Most experts are stating that this is to be expected due to season.

From Fox Business

New single-family home sales unexpectedly fell in December for the first time in four months and the median home price dropped, dampening some of the hopes the housing sector will boost the economy this year.
The Commerce Department said on Thursday sales decreased 2.2 percent to a seasonally adjusted 307,000-unit annual rate.
Economists polled by Reuters had forecast sales at a 320,000-unit rate. November's sales pace was revised slightly lower.

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Kevin R Smith, Broker Associate RE/MAX Center, Phone: 847 231 7618 Kevin@HomeSmity.com

Home Price Index Rises 1% In November

WASHINGTON –  U.S. home prices rose in November, a government agency said Wednesday, another sign that the ailing housing market is gradually climbing back after a severe decline.

Home prices rose 1.0% on a seasonally adjusted basis from a month earlier, according to the Federal Housing Finance Agency's monthly home-price index.

 

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Kevin R Smith, Your HomeSmity

Thinking of making a move? Log onto my website at www.HomeSmity.com and search from over 150,000 Northern Illinois Homes for sale. Registering is quick and easy! 

Kevin R Smith, Broker Associate RE/MAX Center, Phone: 847 231 7618 Kevin@HomeSmity.com