We hope to be releasing HARP’s newest refinance feature (abolishing Loan to value requirements on Fannie Mae loans taken out prior to May 31st 2009) in the next 2 weeks.
Financial Markets
The Dow Jones ended Friday up nearly 200 points and landed at 12,212. This is a massive swing from two weeks ago, where the Dow nose-dived by about 1,000 points. The latest surge resulted from news abroad and domestically. The Eurozone announced that it was getting close to approving a plan that would solve the debt crisis.
While here in the US, the Consumer Sentiment Report climbed to a 67.7 reading, marking the fourth consecutive month of increases. What does this report represent and what does it signify? To put simply, the better mood the average consumer is in about the economy, the more he/she spends. The more the consumer spends, the more the economy grows…The more the economy grows the more companies hire, and ultimately drive down the unemployment rate.
Southern Nevada Real Estate and Economy
Below is a link to an article in the Wall Street Journal that lists Las Vegas the #1 market to invest in real estate. The formula not only calculates short term rate of return (the cash flow vs. expenses when renting it out) but also long term, in the form of appreciation. This is a great reference, or tool to use for both investors and those looking to purchase a primary residence in my opinion.
