Current Housing Indicators |
| CURRENT | PREVIOUS | ||
| Existing Home Sales | 4.49m | ▼ | 4.74m |
| New Home Sales | 309,000 | ▼ | 344,000 |
| Housing Starts | 583,000 | ▲ | 477,000 |
| Building Permits | 547,000 | ▲ | 531,000 |
| HMI | 9 | UNCH | 9 |
| Existing Home Prices | $170,300 | ▼ (annually) | $199,800 |
| New Home Prices | $201,100 | ▼ (annually) | $232,400 |
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Realty Check
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I open the door and there's a woman standing there with a clipboard. She asks to speak to the owner of the house, Mr. X (not his real name). I advise the woman that he doesn't live here anymore, I am a renter and he is my landlord.
The woman replies "have Mr. X contact Countrywide as soon as possible." I ask woman what's this about and should I be concerned. She is unable to tell me anything and reiterates for the owner to contact Countrywide immediately.
I am now alarmed by this visit from a Countrywide rep. Did my landlord take out an adjustable rate mortgage? Is he behind in his mortgage payments and if so where is my rent money going? I live is Sacramento, CA.
I immediately went to realtytrac.com and notice there is a huge amount of NOD's - apprx. 700 but I didn't see my street in the list. I'm concerned about what my rights are as a tenant. I plan on buying a house in Jan/Feb 2008 and I have no intention of over paying. I'm waiting for an additional 20% decline plus I'm still saving for the down payment. I'm happy to wait and watch the train wreck. Besides, in order to meet the conservative credit guidelines (max 41% ratio on the back end) prices have to come down.
Sincerely--a buyer who's staying on the fence.
Questions? Comments?
Data is a real-time snapshot *Data is delayed at least 15 minutes