Market Update Week Ending June 22, 2012

Thanks to Jackie Fowler for this weeks market update...

Despite historic Greek elections and a highly anticipated Fed meeting, it was a surprisingly quiet week for mortgage rates, since neither event shed much light on investors' primary questions. As a result, mortgage rates ended the week with very little change.

Investors hoped that the two big events this week would remove some of the uncertainty that has hung over financial markets for months, but they were mostly disappointed on that front. On Wednesday, the Fed extended the duration of Operation Twist through the end of the year. This was the middle ground between adding no additional stimulus and implementing a third round of quantitative easing…

In today's condo sales market owners are faced with increasing difficulties selling their condo properties.

If a condo for sale is not being shown or have a contract written within the first 30 days, an owner should assume there is something wrong some where.

In many instances, condos for sale sit on the market for longer periods of time than necessary for reasons that include:

Pricing

The condo is probably priced incorrectly, and usually much too high. If the condo is not priced comparable to other units in the same or similar complexes, the condo is NOT going to sell.  It doesn't matter how much a seller wants to get for a condo, what matters is how much will the market bear and how much are buyers willing to pay.  Pricing a condo

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