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Vince's Northwoods Notes blog is dedicated to providing market statistics, real estate news and listings, and community information relevant to Manitowish Waters and the surrounding communities of Northern Wisconsin.
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Big problems seem to require big solutions. When the housing bubble burst and millions of homeowners fell into default and foreclosure, Wall Street and the big banks were subjected to great financial distress due to the over- and miss-use of mortgage-backed Read More...
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According to Freddie Mac, the national average commitment rate for 30 year fixed rate mortgages fell in November to another new low -- 3.99%. See monthly average rates back to 1971 at the Freddie Mac website . Remember the days of 18% back in 1981? Read More...
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The problems of the big banks are not problems that I lose any sleep over -- if it was up to me, I would look for a way to break them up, not make things easier for these "too big to fail" behemoths. Such is the sorry state of affairs that even Read More...
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A wise man probably wouldn't be so quick to point out his own errors of analysis, but then I have never been saddled with the sobriquet of "Wise Man." One year ago I wrote a piece about the relationship between interest rates, sale price, Read More...
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In August I posted information on how the recent passage of the Secure and Fair Enforcement for Mortgage Lending Act (SAFE Act) can make it difficult for sellers to offer seller financing, including land contracts, to buyers of residential properties, Read More...
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Due to the passage of the Secure and Fair Enforcement for Mortgage Lending Act (SAFE Act), it has become a whole lot more complicated for sellers to offer, and buyers to obtain, seller financing for residential properties, including vacant lots upon which Read More...
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"Freddie Sees Mortgage Rates Hitting 6 Percent in 2010" Washington Post (12/26/09) P. A12; ElBoghdady, Dina As reported in the Washington Post , mortgage rates could increase to six percent by the end of 2010, or even sooner, according to Freddie Read More...
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For those sitting on the fence about whether to make the "buy" decison or not, or for those afflicted with " paralysis by analysis " and are looking at every property on the market and thus cannot make a decision, consider this: If Read More...
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Nationally, as well as in our local market, most residential real estate activity is centered on lower end of the real estate market. There are a number of reasons why this is true, not the least of which, at least on the national level, is the sales Read More...
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Day 2 of the GRI Course 3 in Green Bay, WI. A lot of good stuff to digest. First we discussed the benefits of using one’s retirement account to invest in real estate. If you sell your investment property, unless you do a delayed exchange (one type Read More...
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Day One at GRI Course 3 (see my previous post) has proven to be most interesting. The subject today and tomorrow is “Investment Real Estate and Exchanging”, and our instructor assures us that if we master what he is illustrating for us, we Read More...
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I have never, ever been real conversant in the ways and means of the world of high finance - was never really that interested - but the sad state we now find ourselves in, financially speaking, has resulted in me paying more attention to such matters. Read More...
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I commented on the new Real Estate Settlement Procedures Act (RESPA) rules on a previous blog post. I now read that two lawsuits have been filed seeking to reverse or eliminate several rule changes contained in the re-written rules. The lawsuits have Read More...
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More fall-out from the sub-prime mortgage mess: HUD has issued new Real Estate Settlement Procedure Act (RESPA) rules. In recognition of the fact that at times consumers didn't understand the consequences or just simply didn't realize that their Read More...
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As reported in the October 13 th edition of Fortune Magazine, household debt (credit cards, mortgages, home equity lines of credit, and auto loans) in the U.S. has risen to about $14.5 trillion dollars, an amount roughly equal to the country’s gross Read More...
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