VirtualMediaRealty.com » CNBC http://www.virtualmediarealty.com Serving the Greater Boston Area Fri, 13 Aug 2010 01:19:02 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 What Do the Fed and an Appendix Have in Common? http://www.virtualmediarealty.com/2010/08/12/what-do-the-fed-and-an-appendix-have-in-common/ http://www.virtualmediarealty.com/2010/08/12/what-do-the-fed-and-an-appendix-have-in-common/#comments Fri, 13 Aug 2010 01:19:02 +0000 greg http://www.virtualmediarealty.com/?p=493 Much of this week was shadowed by the Fed and their warning of a slowing economy over the past months. They kept the Feds Funds Rate unchanged and leaves the interest rate target at 0 to 1/4%. The FOMC also said they will keep rates exceptionally low for an extended period of time. Something positive they said was that inflation is likely to be subdued for sometime which I thought was good. Today’s weekly jobless claims was up 2,000 to 484,000 for the week ended 8/7. The problem I see and the market is thinking is that at some point the Fed will run out of carrots from that magic hat! What we need now is for the Government to step back and let things work out on their own. They have done alot and spent more than $800 Billion to assist the weak economy. No amount of Government spending can jump start an economy.

1 out of 4 Sellers said they lowered their prices in July. They lowered there prices an average of 10%. July Single Family Pending Home Sales (put under agreement) was down 18% year over year and Condo’s were down 28%. This was the 3rd straight down number for pending home sales which brings up a good question is a double dip recession coming for the housing market? Its hard to believe with rates at record lows why isn’t the housing market improving? I think the answer is simple. Consumer Confidence, Jobs, and the Economy…. It seems some buyers are worried about values but, one thing is for certain its a buyers market and it may never be a better time to buy.

The DOW so far this week has been down more than 350 points to 10,320.

Gold is at $1,217 an ounce and Oil is at $76 a barrel.

Rates have done well again. 30 year fixed rate is at 4.57% w/ .89 points and the 15 year is at 3.95% w/ 1.08 points.

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]]> http://www.virtualmediarealty.com/2010/08/12/what-do-the-fed-and-an-appendix-have-in-common/feed/ 0 Weekly Market Report for the Boston Real Estate Market 3-8 http://www.virtualmediarealty.com/2010/03/13/weekly-market-report-for-the-boston-real-estate-market-3-8/ http://www.virtualmediarealty.com/2010/03/13/weekly-market-report-for-the-boston-real-estate-market-3-8/#comments Sun, 14 Mar 2010 01:29:30 +0000 admin http://www.virtualmediarealty.com/?p=203
Greg Afarian’s Market Report Week of 3-8

Retail Sales in February rose 0.3%

Consumer Sentiment Dips in March to 72.5% from 73.6 in February

10 YR Since the Tech Bubble. CNBC’s Lack of Compassion always makes me sick!

Crude Oil hits $81.24 and Gold is at $1,107 an Ounce.

$3.00 a Gallon Gas?

Greece credit crisis continues and has more riots in the streets.

30 YR Fixed Rate Average 5.01%
15 YR Fixed Rate Average 4.32%

Stocks to watch GOOG, RIMM, VLO

Carlos Slim $53.5 BILLION as World’s Richest Man.

About the Me: The above Real Estate information was provided by Greg Afarian, l can be reached via email or send me a message on Twiter

Have a home to sell on the NorthShore in Mass? I’ll help you with my social media skills for a quick transaction to help save you time and money.

I service the following towns in Boston and the Greater Boston Area. Andover, North Andover, Lawrence, Methuen, Haverhill, Boxford, Bradford, Dracut, Reading, North Reading, and beyond.

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