Potent combination of FHA Financing, Steep Home Price Declines & Low Mortgage Rates

According to DataQuick Bay Area home sales posted a year-over-year gain for the eighth consecutive month in April. Santa Clara county had 1606 sales in April 09 compared to 1440 in April 08 up 11.5%. Alameda county had 1457 sales in April 09 compared to 1240 in April 08, up 17.5%. The question is what is causing this robust sales. I guess, I gave away the answer in the post header. Lets discuss the top 3 reasons one at a time. FHA Financing - In April FHA mortgages represented a record 26% of…continue reading →

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