Housing, Mortgages, & Money

Hope many of you took advantage of 30 year rates at the record low of 4.71% last week, as of today its back up to 4.81% according to Feddie Mac (NYSE:FRE) and that's if you can qualify. 
Mortgage rates are starting to slide toward 5% in a hurry and we may have seen a bottom in 30 year fixed rates.

How about them apples?  Denise Tejada bought a house last month at the age of 20, thanks in large part to a loan guaranteed by the Federal Housing Authority.  She scored a $183K FHA loan and is now in her very own house, too bad she can't buy a six-pack to celebrate, only one more year.

Which one is more advantageous for investors? Buying Foreclosed or Short Sale properties? Try Pre-Foreclosure and Bank Owned Properties, the less risk the better.

Commercial real estate values in the U.S. have dropped 27% in the year through June and rents for offices, shops and warehouse space may continue to drop through 2010 as the recession saps jobs and consumer spending. Via Bloomberg.com an analysis and discussion with the Senior Analyst of BMO Capital Markets. He talks about the fundamentals that deteriorate throughout the commercial real estate sector and the rise of vacancies and the fall of rent.

One drag on recovery in Southern California is illustrated by three new office buildings near the LA-Ontario International Airport. One is 60% leased. The other two sit empty.
Much has changed. "New construction is now literally stopped," said Katherine Aguilar Perez, executive director of the Urban Land Institute's office in Los Angeles. The industry has shed jobs as new building starts have plummeted.