Good Evening,
**Programs of note:
- Foreign National (for Canadian citizens purchasing 2nd home)
- Jumbo financing up to 90% LTV (up to $600,000 loan amount)
- Home Path: Owner Occupied, 2nd home and investor
- FHA 203K
- FHA flips in less than 90 days over 120%
Financial Markets
The Dow Jones ended the week with a roaring comeback, ending the day at 12,505. As of mid morning on Monday, the Dow was down to 12,141, as Standard and Poors lowered long-term US Debt ratings. However, quarterly earnings continued to beat expectations, capped off by Apple, who’s earnings increased by 83% from last year. According to Thomas Reuters, 75% of companies that have released 1q earnings have beat expectations.
Bonds experienced light selling pressure, and mortgage rates worsened for the week just slightly.
Local Real Estate and Economy
Home sales for March reached the highest level in 17 months, as over 5,000 homes were sold. Below is an article in the RJ for more specific data.
Tivoli Village is just a week away from opening its first phase of stores. The 850 million dollar project will finish the completion of its phase one stores by this upcoming winter. Below is the link to LV Sun with the full-write up about the project.
