www.BenjaminDay.com/2009MidYear
As a Coda to this report, I've been previewing heavily in N/W and NGT the last two weeks and several properties of note over $550,000 have gone under contract. One of the likely stimulants has been the "returned availability of credit" to the Jumbo marketplace. It may not sound significant to somehow who has not followed it, but Jumbo rates can be obtained for qualified buyers with rates less than 6% again. It usually requires 25% downpayment (and you have $100,000 between the couch pillows, right?), but Bank of America, Chase and Wells Fargo are all offering products that buyers are starting to take advantage of and buy depressed value high-end properties. Until recently, most 30 year fixed Jumbos were over 7%, so the decreased cost of borrowing is a big deal.
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