Fed Ups Auction Amounts to Aid Banks

The Federal Reserve announced Friday that it is increasing the amount of money available to banks through the new auction process it created to ease the nation's severe credit squeeze. The Fed again pledged to continue the auctions 'for as long as necessary.'
The Fed said that it will increase the amount offered at each of the next two auctions from $20 billion to $30 billion, a 50 percent jump. Those two auctions will be Jan. 14 and Jan. 28.
The Fed announcement indicated that the auction process it began last month has been successful in providing a source of loans for cash-strapped banks. Read more

http://www.topix.com/home/mortgage/2008/01/fed-ups-auction-amounts-to-aid-banks

Housing Slump's Silver Lining??

VIDEO NEWS CLIP (click link below)

That McMansion you once dreamed about could probably be within your grasp today....

http://www.cnbc.com/id/15840232?video=597873549

Mortgage Rates Keep Slipping

Good morning, and good news: Mortgage rates continued to decline this week, pulling back from recent highs, Inman News reports.
Inman News: "In Freddie Mac's survey, the 30-year fixed-rate mortgage sank to an average 6.63% from 6.67% last week.... 'Long-term mortgage rates continued to move lower for a third consecutive week, in part reflecting a moderation in core inflation,' Freddie Mac's Frank Nothaft said." http://latimesblogs.latimes.com/laland/2007/07/mortgage-rates-.html

Terra Firma's take: QUESTION OF THE DAY??.... If you wait to act in this market and a year from now prices are slightly lower and interest rates are signifcantly HIGHER....Did you serve your self well by standing on the sidelines???

Demand For OC Homes Rises 16%

ORANGE COUNTY REGISTER - TUESDAY NOV. 20

Orange County home shoppers are slowly returning to the market after the recent summertime credit crunch. Figures show that by tracking the number of homes placed into escrow with the past month. As of Thursday that figure has increased by 182 homes in 6 weeks to 1,295. That's a 16 percent increase.......
http://www.ocregister.com/

TERRA FIRMA's take: Any time the media reports a positive development in the real estate market we'll take it...however, the lopsided coverage on the negative side is helping paralyze buyers and sellers from taking action....

this article is anecdotal evidence that there is pent up demand out there....and that SMART buyers are taking advantage of great interest rates...lots of selection....great prices...and easing of credit.......

NEWS FLASH: There are bargains out there RIGHT NOW..... It's too bad most people will know when the bottom is reached.....because they will have MISSED it!!!

Let's Get This Party Started!! How About Some Truth??!

Welcome to Terra Firma's inaugural post....

It will be the mission of this blog to provide buyers and sellers with all the latest real estate information... empowering people to make informed decisions......Knowlege is power!!....Furthermore, It will be our intent to stimulate a dialogue....a dialogue between YOU, industry experts, and local Realtors.....Our aim will also be to provoke as well as entertain..... to provide levity in a sometimes weary world......

Your thoughts, opinions, questions and insights are welcome 24/7.....Express yourself and post often!!

Let's start with some historical perspective to OC real estate....some of the most desirable real estate in the entire world..........

“The median price of a home today is approaching $50,000 . . . housing experts predict price rises in the future won’t be that great.”
– National Business Journal - 1977

“The golden-age of risk free run-ups in home prices is gone.” – Money Magazine – 1985

“A home is where the bad investment is.” - San Francisco Examiner – 1996

These are examples of the MEDIA and their typical chicken-little approach toward covering real estate.......WHY would you listen to these SAME voices today????

Terra Firma is going to TAKE ON the concerted disinformation campaign currently masquerading as news.........stay tuned!