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THE NEWS JUST KEEPS GETTING BETTER AND BETTER!
Posted by Naples International Group on Friday, September 19th, 2008 at 3:14pm.
Three pieces of good news in one day yesterday…Just unreal…
First…the 30–year fixed mortgage rates have dropped sharply to a seven month low and are now sitting at 5.78, down from 5.93 the week prior. It’s good news for those who have had the patience to wait to transform 3/1 and 5/1 arms to 30–years fixed notes. It was the fifth straight week that the rate has declined and certainly should help to stimulate mortgage applications.
Second…the Naples Daily News, yes the same paper that bashed us for the prior two years, has begun publishing positive real estate articles. I know, I know they are just reporting the news, but the stories that they published during the past few years were totally negative and did the market and the community a severe injustice, in my opinion. It’s good to sdee the change!
Third…a Senior Vice-President and Chief Economist at National City Corp, Richard Dekaser, who had previously seen Naples as tremendously overvalued, has now reversed his philosophy and sees Naples as slightly undervalued. As a matter of fact, you can read the article here.
We’re excited about the prospects of the upcoming season!
V.K. [Mel] Melhado PA
Downing-Frye Realty, Inc.
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