Real Estate Market Report for 2nd quarter 2012 Brought to you by Walter Grewe, Realtor
Long & Foster Realtors 3906 Electric Rd SW Roanoke VA 24018
Phone: 540 537 9281 Fax: 540 989 7076 E-mail: WaltSellsHomes@hotmail.com
The chart on the following page illustrates what an impact the lower interest rates have had on the cost of purchasing a home.
Cost of $100,000 Mortgage Year
30 Year Mortgage Interest Rate*
P&I Payment on $100K Mortgage **
2003
6.15
609.23
2004
5.75
583.57
2005
5.77
584.84
2006
6.40
625.51
2007
6.38
624.20
2008
6.04
602.12
2009
5.06
540.49
2010
4.32
496.05
2011
4.01
477.99
2012
3.40
443.48
* Freddie Mac 30 Year Rate in September each year
**Principal and Interest
The next graphic show the change in housing prices over the previous year. Good news for most of the country.
Home Price Changes Year over Year. FHFA 2Q HPI Report
The final two charts detail the foreclosures completed and the foreclosure filings nationwide. While these figures are still not the greatest things are looking more positive.
Completed Foreclosures
OCC Mortgage Metrics Report 9/2012
200,000 186,854
168,256 157,733
160,000
132,625
119,809
120,000
122,979
121,202 112,686
116,060
101,735
95,067
80,000
4Q 2009 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 2Q 2012
Foreclosures in Process OCC Mortgage Metrics Report 9/2012
1.4 1.2
1.3 1.2 1.1
1.2
1.3
1.3
1.3
1.3
1.3 1.2
1.1
1.0 0.8 0.6 0.4 0.2 0.0
4Q 2009 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 2Q 2012