The Big Three has a new meaning. It's the number of condos under contract in the past week. 1001 Clinton 5D Offered at $539k DOM 13402 9th St #E2E Offered at $479k on 1/1/09, reduced to $469k on 2/12/09 DOM 74304 Hudson #4 Offered at $685k on 9/15/08, reduced to $638,500 on 11/13/08, reduced to $599,999k on 3/20/09 DOM roughly 188.We're not gonna … [Read more...]
4.5% is not enough.
December 4, 2008 By Leave a Comment
It's being reported that the latest installment of the government bailout is nudge the markets to a 4.5% mortgage interest rate. Given that the rate is about 5.5% today that equates to about $61in savings for every $100k borrowed. So a $500k mortgage will be reduced by $305 per month. But that $600k home will have taxes around $8,000 in 2007 and … [Read more...]
