Everybody has gone shopping for one thing or another so this should apply to mortgage loans too. By taking the time to shop around for the best rates available, you could be saving thousands of dollars during the life time of the loan. So it pays to be aware of the cost associated in obtaining a loan. Not to mention, you will be more confident about affording and purchasing that home that says “buy me”.
After all, purchasing a property could be the most expensive thing you buy in your life time. Why not take the plunge now? With the lowest interest rates ever available and lots of homes to choose from, plus slow economic recovery of the market, this is the best time to do so.
Have you been thinking about when it may be the best time to purchase a property? Well, here’s 5 reasons why you might want to make that big step now. Don’t forget, real estate has cycles. We are now in a buyer’s cycle and it’s the best time to take advantage of the market place. Remember, not too long ago, the last seller’s market? Do you remember when prices went through the roof and properties were selling like hot cakes? Does multiple offers to buy a home and bidding over the asking price sound familiar? Well, it’s better now. If you can get into a property today, you’ll be able to ride the wave of the next seller’s market.
So how are you going to get the money to take advantage of the opportunity? Unless you have lots of cash to make that purchase, you should see your banker or loan agent to see how much you can borrow. If you need to scrape up some money for a down payment, here’s 7 ways that may help. Good Luck!
According to Realty Trac, “A total of 340,740 California properties received a foreclosure filing in the first half of 2010, the nation’s highest total but down 15 percent from the previous six months and down nearly 13 percent from the first six months of 2009.”
It is encouraging to know that the foreclosures are on a decline, however is the real estate market going to survive the next wave of REOs? I think it will as long as the interest rates stay at today’s levels, unemployment declines, and the demand for housing remains strong.
The San Francisco market is a great example. Although the hardest hit areas in San Francisco, are in the lower and medium priced homes, the home sales have increased and spurred on the sales of the more expensive areas of the city. It is expected to continue for the rest of the 2010.
I believe San Francisco and San Mateo counties’ prices have stabilized in most areas and may stay at this level until something happens with the projected increase of interest rates and foreclosures, defaulting homeowners and unemployment. Based on a study by Homegain, it is not surprising to see that homeowners and agents have different views about the market place.
FHA loans have been around for a long time, however, it is more popular these days then ever before. Borrowers can qualify for a loan with as little as 3.5% of the sales price. Here are some things to know about these types of loans. With the way the economy is today, these programs can help you.
Great news!! Congress has finally approved a extension for those of you who have been in escrow since April 30th.
Since we have been in this recession for a while now, what’s your feeling about the results from all of the government bail outs? Some areas have seen some improvement but some have not. There have been some many different programs that have been implemented to help everybody, but is it really working or are we digging a big whole, deficit, for our future generations to pay?
Are you going to make the June 30th deadline? Hopefully you will since it’s been a stressful process. If you don’t make it, then let’s hope that Congress votes to extend the deadline 3 more months. The Senate has approved the extension because of the enormous back log of sales and now it time for Congress to consider the extension.
According to Vicki Cox Golder, president of the National Association of Realtors, said the extension was a matter of fairness.
“These are not buyers who just entered into the market. These are buyers who previously met all the qualifications for the tax credit, but find themselves at the mercy of a work-flow jam with the lenders or other delays and might not be able to complete the purchase of their homes.”
I think it’s the right thing to do, especally since it’s not the buyer’s fault for not meeting the deadline.
Spring is almost over but cleaning is a chore that seems to never end. It is even more important if you’re planning to sell your home in time for the summer selling season. There are a few things that you can do to help make your home more attractive.
Last month San Francisco’s sales price for median priced homes have increased by 11.6% from the same month the previous year. During the month, 188 single family homes were sold and 284 homes were pending. This is an increase of 27% in sales from April 2009 and 33% increase in pending properties during the same period. This is a good sign that we might be on the right track to recovery. Property values are better but they still have a long way to what they were a few years ago. This is still a good time to buy something. Prices are still very attractive, however some prices in some areas are so attractive that it is generating multiple offer situations.
![Reblog this post [with Zemanta]](http://img.zemanta.com/reblog_e.png?x-id=12ec2c00-2bd1-4977-93d1-c5df7985db30)
![Reblog this post [with Zemanta]](http://img.zemanta.com/reblog_e.png?x-id=25f92792-88ff-47bb-aed7-31d947d50eb8)
