Pocono Real Estate News

Read news stories and information about the Pocono Real Estate market, Pocono Vacation Rentals and local happenings.

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**30 yr Fixed @ 4.99% 0 points**
***95% First Time Homebuyer @ 4.75%***
****FHA 30 yr FX 5.5%****


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ROSS CRAWFORD

Office 215-345-8438
610-349-2546 Cell


as of 12/17/2008

Rates Could Be as Low as 4.5% for Newly Issued Loans

The Treasury Department is considering a plan to revitalize the U.S. housing market by reducing mortgage rates for new home loans, according to people familiar with the matter.

The plan, which is in the development stages, would use mortgage giants Fannie Mae and Freddie Mac to bring loan rates down as low as 4.5%, a full percentage point lower than the prevailing rates for 30-year fixed ... READ MORE...

Mortgage applications post largest gain ever

Mortgage applications surged by the largest amount on record last week as a new Federal Reserve program pushed interest rates down to their lowest level in more than 3 years, data from an industry group showed on Wednesday.

The U.S. housing market is suffering the worst downturn since the Great Depression as a huge supply of unsold homes, tighter lending standards and record foreclosures push down home prices.

But, the latest weekly data from the Mortgage Bankers Association showed potential borrowers were lured by enticing mortgage rates, which dropped dramatically after the Federal Reserve unveiled a plan last week to buy up to $500 billion of mortgage securities backed by... READ MORE...

Mortgage Rates Tumble on Fed Debt Purchasing Plan

Nov. 26 (Bloomberg) -- U.S. mortgage rates plunged by the most in at least seven years yesterday as a Federal Reserve pledge to buy $600 billion of debt succeeded where seven cuts in the central bank’s benchmark rate had failed.

The average rate for a 30-year fixed... READ MORE...

Pending home sales up 7.4 percent in August

Pending home sales rose 7.4 percent from July to August, an unexpected piece of positive news for the battered U.S. housing market.

The National Association of Realtors said Wednesday its seasonally adjusted index of pending sales for existing homes rose to 93.4 from an upwardly revised July reading of 87. The reading

Home sales are considered... READ MORE...

Sovereign Bank, Great Mortgage Rates

Sovereign Bank, Senior Loan Officer, Ross O. Crawford announced to the agents of Pocono Resorts Realty on Tuesday September 9, 2008 that rates on 30 year fixed, 0 points mortgage have dropped to 5.875%.

Now is a perfect time for buyers with good credit to purchase a home, with interest rates at these low rates, and home prices low, buyers can afford more home, and at Pocono Resorts Realty our inventory of quality vacation/investment homes is excellent.

Sovereign is among the top five Most Admired Companies in mortgage service for 2008. To find out what Sovereign's award-winning mortgage services can do for you contact Ross today to get pre-approved, 1-215-345-8438 View Website

What rescue means for mortgage rates

Sunday's federal takeover of Fannie Mae and Freddie Mac will likely translate into lower mortgage rates and greater availability of credit, experts said. Rates could drop by 1 percentage point from the stubbornly-high 6.39% for a 30-year fixed... READ MORE...

Government takes on role in mortgage market

WASHINGTON (AP) -- Uncle Sam has just become the 800 pound gorilla in the U.S. mortgage market. The Bush administration is seizing troubled mortgage giants Fannie Mae and Freddie Mac in a bid to help reverse a prolonged housing and credit crisis.... READ MORE...

How to find good investment property

The idea of owning rental real estate seems to be gaining popularity as investors tire of the swoops and swoons of the stock market. As I pointed out in a separate column, not everyone has what it takes to be a landlord. But those who do may find rentals to be a good way to build wealth.

Once you've made the decision to buy rental... READ MORE...

Golf Play & Stay Packages

Pocono Resorts Realty announces the introduction of a new service for golfers looking to stay in the Pocono's and play a variety of local golf courses. Golfers can log on to our website, www.prr1.com and pick a course and choose a home and our Agents will customize a Play and Stay package. Pocono Resorts Realty, the Pocono's Largest Vacation Rental Agency, currently has more than 700 homes, townhouses and condo's to choose from and 5 golf courses, with others golf courses joining the Play and Stay package group shortly.

With the introduction of this new service Pocono Resorts Realty is responding to owners of rental properties that have been seeking a way to increase their occupancy rate. With the large number of golfers coming to the Pocono’s during the spring, summer and fall this makes perfect dollars and sense.

Top 5 Places to Own a Summer home

Looking for a destination for all seasons? The Pocono Mountains offer skiing (winter), horseback riding (spring), sailing (summer), and hiking (fall). (There's even a Fall Foliage Hotline to point you to the most spectacular views and scenic driving routes.) Single-family homes range from $175,000 to $300,000, with lakeside and mountainside properties available... READ MORE...