Michael Pond Team Blog

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According to The National Association of Realtors' Pending Home Sales Index, the number of signed sales contracts dropped 30 percent in May. The plunge follows three months of gains driven by the homebuyer tax credit. Year-over-year, the index was down 15.9 percent. Lawrence Yun, NAR's chief econ...
Nothing should stand between you and your client's on-time loan closing. Nothing. That's why at Primary Capital, we promise to close on time and we back it up with a guarantee. If we fall short, we'll pay your first mortgage payment (principal and interest). No matter how many new regulations ari...
"To give real service you must add something which cannot be bought or measured with money, and that is sincerity and integrity." --Douglas Adams This simple statement is my basis of my business plan.
Greg Rand, of Rand Realty, says short-term housing stats don't accurately portray what he believes is an upward, long-term trend in the market.  The tax credit rush is over so the market has naturally slowed down but we are on track when you look at the YTD numbers of buyers. Click here to see th...
After two straight months of gains, private residential construction spending fell 0.4 percent in May, according to a report from the U.S. Census Bureau of the Department of Commerce. Total construction spending slipped just 0.2 percent below April's estimate. Economists, however, predicted deepe...
According to Standard & Poor's Case-Shiller Home Price Index, housing prices rose 3.8 percent in April from a year earlier. Of the 20 major metropolitan areas surveyed, 18 posted month-to-month gains but the increases were largely due to demand created by the tax credit. David M. Blitzer, chairma...
As the Federal Reserve wrapped up their purchases of mortgage-backed securities in March, analysts suggested that interest rates would begin to climb once the program ended. Instead, rates have continued to fall. Last week, Freddie Mac said rates for 30-year fixed-rate mortgages had dropped to th...
Loan Quality Initiative In response to Fannie Mae's LL 2010-02, we will be implementing guidelines and procedures to ensure compliance with LQI. This will be a work in progress. Expect fine tuning along the way. This applies to loan applications taken on or after June 1st and will only apply to c...
Spencer Rascoff, chief operating officer of Zillow Real Estate, says record low interest rates are undoubtedly good for the market but, until the unemployment and foreclosure numbers improve, housing will remain fragile. Click here to see the video clip: http://michaelpond.wordpress.com/2010/06/2...
WOW! 1,295 prisoners, including 241 serving life sentences, received $9.1 million in the first time homebuyer credits, even though they were incarcerated at the time they reported that they bought their home. These prisoners didn't file joint returns, so their claims could not have been the resul...

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