Last week we mentioned that the government was looking into a possible rental program involving foreclosed properties owned by various government entities.
According to local investors this would certainly hurt the "mom and pop" type of investors as the government would sell/auction the foreclosed properties in large groups. The thought is that the large investors would "cherry pick" the good properties and leave the lesser properties for the small-time investors. What do you think?
On another note, the Wall Street Journal reported that interest rates have dropped, again hitting new lows.
Find out what's happening in Mayfield-Hillcrestfor free with the latest updates from Patch.
The 30-year, fixed-rate mortgage averaged 4.15 percent for the week ending Thursday, down from 4.32 percent the previous week and last year's rate of 4.42 percent. We know of several local banks that are offering rates below 4 percent.
To obtain the rates, a 30-year, fixed-rate mortage required an average payment of 0.7 point.
Find out what's happening in Mayfield-Hillcrestfor free with the latest updates from Patch.
Listed below are the statistics for all properties sold in Mayfield, Mayfield Heights and Mayfield Village since the first of the year.
Active: 0 Pending: 0 Sold: 97 Other: 0 Total: 97
Average CDOM Breakdown and Average % of Listing Price received on Solds by Market time: 0-30 Days 31-60 Days 61-90 Days 91-120 Days 120+ Days No. of Listings 13 10 17 9 48 Breakdown % 13.40 10.31 17.53 9.28 49.48 Avg SP%LP 94.75 91.64 92.59 92.03 89.80