OK, OK… I know the chart is hard to read, but mortgage interest rates have hit historic lows, again!!  If you are on the fence about purchasing a home, look at the rates, look at how affordable homes are, and take the plunge!!

Prior to entering real estate, I was a mortgage loan officer for six years.  I used to do one year adjustable rate loans at 7.5%!  You can get a 30-year fixed below 5% now!!

The Defense Finance and Accounting Service recently terminated or suspended thirty nine employees who were unable to maintain acceptable credit.

Reasons included: financial delinquencies, bankruptcies, tax liens, and the like.  If you find yourself in this type of situation, particularly if you are behind in your mortgage payments, a short sale might be the solution to help you get out of your current situation and maintain acceptable credit to keep your job.

I am a Certified Distressed Property Expert, and have special training to assist Sellers  who find themselves in a difficult situation.

April marks the 42nd Anniversary of the 1968 landmark Fair Housing Act.  Each year Realtors recognize the significance of the event and reconfirm our commitment to upholding fair housing laws as well as our commitment to offering equal professional service to all in their search for a home.

Hat’s off to all my fellow Realtors for embracing fair housing… not only is it the law, but it makes good business sense!

You can sit patiently in a boat and wait for the fish to jump into it or you can use the right bait and pro-actively go after them.  Similarly, you can wait for buyers to get off the fence on their own or you can coax them down by understanding and communicating the compelling reasons to buy a home now.

Too many people are slow to react and have a tendency to do as the “herd” does.  This means that some of the best opportunities are missed.

June 2009 Market Cycle

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It’s been in the news, talked about, and discussed, but this flyer gives a great summary of what 2009 buyers can expect!

First, this credit does not follow the calendar year!  It expires December 1, 2009 and is a reduction to your tax liability, not a check sent to you because you purchased a home.

There are also income caps.  If you are single, the cap is $75,000 and joint filers it is $150,000, and you need to stay in the home for three years.  Unlike 2008, this is a true tax credit, and does not have to be repaid as long as the three year requirement is met.

Take a moment to download this PDF and feel free to call me with your questions!

tax_credit_flyer0001

Recently while showing homes, I ran across a builder who was offering below market interest rates to help spur sales… would you believe 3 3/4%!! Other buiders are offering free upgrades for luxury features.

So, if you are on the fence about buying a home, I would think now is a great time to buy.  I’ve been selling homes since 1994, put my experience to work for you!  I can also help explain how builders work, and the best ways to purchase new construction. 

 I’ll get asked now and then… Mark, what do you need to bring to a loan application?  Since FHA financing is so popular these days, I thought I’d share this nifty checklist.  Buyers will find that if they are on a salary, and been on their job for a year, it will be smooth sailing.  Underwriting guidelines for mortgage loans get interesting for self employed, commission, or people using overtime pay to calculate their income. 

On the whole, an FHA underwriter will give the borrower the benefit of the doubt, but all buyers need to document their income.

As always, call me if you have any questions…. or need a clear copy of this checklist!!