Monday, February 20, 2012

Housing Crisis to End in 2012 as Banks Loosen Credit Standards

 Housing Crisis to End in 2012 as Banks Loosen Credit Standard.
 By: Krista Franks
www.DSnews.com
 This article appeared in DSnews.com on 1/24/12.
Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit.
 The analytics firm notes the average credit score required to attain a mortgage loan is 700. While this is higher than scores required prior to the crisis, it is constant with requirements one year ago.

Additionally, a Fed Senior Loan Officer Survey found credit requirements in the fourth quarter were consistent with the past three quarters.

However, other market indicators point not just to a stabilization of mortgage lending standards, but also a loosening of credit availability.

Banks are now lending amounts up to 3.5 times borrower earnings. This is up from a low during the crisis of 3.2 times borrower earnings.

Banks are also loosening loan-to-value ratios (LTV), which Capital Economics denotes “the clearest sign yet of an improvement in mortgage credit conditions.”

In contrast to a low of 74 percent reached in mid-2010, banks are now lending at 82 percent LTV.
While credit conditions may have loosened slightly, some potential homebuyers are still struggling with credit requirements. In fact, Capital Economics points out that in November 8 percent of contract cancellations were the result of a potential buyer not qualifying for a loan.

Additionally, Capital Economics says “any improvement in credit conditions won’t be significant enough to generation actual house price gains,” and potential ramifications from the euro-zone pose a threat to future credit availability. 


Sunday, February 19, 2012

Monday, February 13, 2012

Happy Valentine's Day

Happy Valentine's Day to all my clients, customers and friends.   Enjoy!!

Saturday, February 11, 2012

Rare Asian Hooded Crane spotted at Goose Pond FWA

Bird watchers from across the country are coming to the Greene County, Indiana, Goose Pond Fish and Wildlife area to view a rare hooded crane, normally seen only in Asia.  The  Asian Hooded Cranes nest in southeastern Russia, northern China and Japan.
The bird landed at the Goose Pond south of Linton, about 7,000 miles from its traditional home range. The Hooded Crane was spotted on Wednesday and once the word got out, people started arriving with hopes of spotting this rare bird.

The Crane has been seen in the Beehunter Marsh Unit 5 area southeast of Linton between Baseline Road and County Road 100S.  Check out this link for an area map of the Goose Pond FW dnr.IN.gov/fishwild/3094.htm. (click on the maps tab).

I ventured out this morning, with my camera to see if I could catch a glimpse of the rare site.  I saw several people searching and hoping to do the same.
Even, though I didn't see the Hooded Crane this morning; I plan to go back again in late afternoon to continue my quest.  I'm not sure how long the bird will stay here, but I'm hoping to post a picture of this Rare Asian Hooded Crane.
This collage of pictures was taken at the Goose Pond Fish and Wildlife area south of Linton.


Sunday, February 5, 2012

Super Bowl XLVI Indianapolis, IN

(photo by Brenda Pafford in the NFL Experience)
 GO  GIANTS!!!

Wednesday, February 1, 2012

Groundhog Day 2012

6 More Weeks of Winter?
Punxsutawney Phil should leave his burrow around 7:30 am - February 2nd at Gobblers Knob in Punxsutawney, Pennsylvania, and observe the weather conditions and look for his shadow.......he will then make his prediction for the rest of the winter.






I found several daffodils ready to bloom in Coal City, IN, today!!