Old Greenwood

Old Greenwood is only minutes away from Northstar Ski Resort and home to the Jack Nicklaus Signature Golf course. The impressive amenities located at the Pavilion include family pool, water slide, tennis courts, game rooms, adult pool, spa treatments, and fitness center.
The development offers luxurious custom homes, home sites, and townhomes and cabins for whole or fractional ownership.

Mortgage Rates Hits New Low

Low mortgage rates may be encouraging buyers to step up to purchase.  Two high end areas in Truckee, Lahontan and Old Greenwood have recently had new activity.   Lahontan had two sales last week  with average price of $1.7M and Old Greenwood had one sale at $2.0M.   There are currently three properties in escrow in Old Greenwood.  This is good news as the properties over a million dollars are showing activity.

Realtor.com news shows mortage rate at new low.  This was posted on realtor.com on February 20, 2009.

30-Year Rates Drop to Near 5%
Mortgage rates across the board fell this week, a welcoming sign to potential buyers and home owners looking to refinance.

The 30-year fixed-rate mortgage averaged 5.04 percent this week, a drop from last week’s 5.16 percent. Last year at this time, the 30-year rate averaged 6.04 percent, Freddie Mac reports.

Freddie Mac reported the following for other rates for the week:

• 15-year mortgage rates: averaged 4.68 percent, down from last week’s 4.81 percent. Last year at this time: 5.64 percent.
• 5-year hybrid adjustable-rate mortgages: averaged 5.04 percent this week, a drop from last week’s 5.23 percent. Last year at this time: 5.37 percent
• 1-year ARMs: averaged 4.8 percent, down from last week’s 4.94 percent. Last year at this time: 4.98 percent

“Mortgage rates followed bond yields lower this week as recent economic reports suggest the economy is still slowing, which reduces the future threat of inflation,” says Frank Nothaft, Freddie Mac’s chief economist.