mortgage

• King County home prices in August slide back to April 2006
  Rich
  26 days ago
  

  There's no doubt that the mortgage crisis triggered this downturn in the real estate market. The latest news that the gov't stepped in to save Fannie Mae and Freddie Mac caused mortgage rates to drop by nearly 1% yesterday. Problem isn't just the rates, it's also the difficulty with which buyers are having getting approved for loans, as well as general reluctance to buy before the perceived bottom of the market has hit.

  Aside from general price destabilization, increasing amounts of short-sale and foreclosure properties, both of which are priced well below market value, affect overall pricing stats as well.

  Quoted: Real-estate brokers said the August numbers reflect more willingness on the part of more, but hardly all, sellers to ask less for their houses to increase the odds they will find buyers

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