HUD SUSPENDS RECENT MORTGAGE INSURANCE PREMIUMS REDUCTION

An hour after President Trump was sworn in Friday, the Department of Housing and Urban Development announced it suspended the recently initiated one-quarter percent reduction of Mortgage Insurance Premiums. Concern regarding the credit quality of FHA originated home loans has been expressed by many. The suspension of the one-quarter percent reduction should have a minimal effect on FHA loan origination volumes.

MID-JANUARY - SERIOUS BUYERS OUT THERE

A very successful agent in our office recently listed a home in the Upper Highland Oaks area of Arcadia. It appears this beautiful late 1950's built ranch style home  with 4 BR's 3 BA was listed at the lower end of the price pattern for this wonderful property. The marketing strategy worked! To date, twenty-four offers have been received. The agent definitely got the market's attention. IT IS MID- JANUARY AND THE BUYERS ARE OUT THERE.