Forecasters, predicting that the economy will begin to recover in the second half of this year.

Monday, March 02, 2009

by Rob Zwemmer

Monday Morning Palm Springs Real Estate Market Update 03/02/2008

Good Monday Morning,

Some good news from Reuters, as they released the results of a survey of 47 professional forecasters, predicting that the economy will begin to recover in the second half of this year. Additionally, the Chicago Purchasing Managers Index was better than expected, and being a forward-looking indicator, gives another bright spot of hope down the road.

Last week when I was on a convention in Orlando, FL. I was selected to become a member of Keller Williams Luxury Devision. This is a small group of professionals (150 from the 75.000 Keller Williams agents). More Info. www.KWLuxuryHomes.com and make sure to check our new Luxury Home site for the desert at www.DesertOnline.com

To get a Daily Email List of Homes For Sale As They Hit The Market www.FindMyDesertHome.com

Do you know what your home is worth in today's market?
It helps when you have recent market data at your finger tips! http://www.DesertCMA.com.

Mortgage Market update!

Rates continue to be volatile, but are still at historically low levels.
Check out 4.125% - 5 year Fixed money – LOW!!

Conforming & FHA Loan limits have been increased to 500K for the rest of 2009.
The bad news is that these agency jumbo loans are not yet available in the market place.
So we don’t know the pricing or stipulations yet, but I will update you with more as it unravels.
FHA & VA has also just raised its minimum fico score requirement to 620.

Despite the negative news, Bonds and home loan rates were not able to make improvements over the course of the week, and ended a bit worse than where they began.

1 Canadian dollar = 0.778574 U.S. dollars