VERO BEACH FORECLOSURES  

FEBRUARY 1, 2009 

Volume 3, Number 2

Foreclosures 

Income Properties 

Buyer’s Agent 

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Vero Coastal Homes 

Allan Grieve 

772-453-8011  

Mortgage Rates Rise After Record Run at Historic Lows 

After month long run at record low levels, rates on 30 year fixed rate mortgages rose above 5 percent last week. Rates started their decline after the Federal Reserve announced last November their plan to buy $500 million in mortgage backed securities. It was hoped this would encourage banks to lend more money and help the troubled housing industry.    Read more….. 

Sales #s are up slightly but buyer traffic has greatly increased in the last few weeks. With mortgage rates going up – ½ percent increase will add 10% to your annual interest cost – buyers are not waiting for prices to fall further. 

        January Short Sale & Bank Owned Sales in Indian River County

- from REALTORS Association of Indian River County MLS database 

Please contact me for any changes to your listings search, additional information on any listing or to arrange a showing of any properties of interest.