Feature Property and Home Prices on the Rise.

This Weeks Feature Property:
This 34.64 acre parcel has trees, hills, a road that allows you to drive through the property all the way back to Hounds Creek. It in conveniently located between the towns of Kenbridge and Victoria. Nice rural setting with great views. See more pictures by going to my home page of my blog and click on the United Country tab.


Home Prices Rise Across U.S.
Home prices in major U.S. cities registered the first monthly gain in nearly three years, according to a new report that provides fresh evidence that the severe U.S. housing downturn could be easing.
Standard and Poor's Case-Shiller index, which tracts home prices in 20 metropolitan areas, rose 0.5% for the three month period ending in May, compared with the three months ending in April. It marked the index's first increase after 34 straight months of decline and came after a variety of housing indicators has shown glimmers of hope for the past several months.
Home prices remain down about 17% from a year earlier according to the index, but most Wall Street economist who discussed the survey focused on the April to May rise, saying it represents a significant change in direction.
The results were also consistent with other recent housing data, these economist said. May's uptick came in part as home prices in some areas fell enough for investors and first time buyers to begin competing for bargains, helping to ease the backlog of unsold homes.
Other likely sales spurs included mortgage rates that fell to 50-year lows, an $8,000 federal tax credit for first time home-buyers and the ability of buyers to secure mortgages from FHA with as little as 3.5% down.
I will continue to follow the market and keep you posted and again, thanks for reading my blog.