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23 February 2010
Jumping into the Housing Market?..consider this:
If you have a good job and good credit, the next few months might be a good time to go house hunting. Fence-sitters take the risk that Congress may let a rich tax credit expire, and that interest rates may rise. Buyers and sellers should consider the Read More...
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25 September 2008
What is an FHA loan and why are they HOT???
11/24/2008 FHA Update: -Down payment is now 3.5% (was 3%) -Minimum FICO score is 580 The FHA was created in the ashes of the Great Depression to boost home buying, but over the years its influence waned. Fannie Mae and Freddie Mac took over market share Read More...
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14 July 2008
Prices are Rising-for four straight months!!
Prices have risen for four straight months. The median home price has fallen from a high of $230,200 in July 2006 to a low in February 2008 at $195,600, a drop of 15%. Since February, however, it has risen steadily every month. By May the index (which Read More...
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11 April 2008
Buyers and Renters - The Cost of Waiting
First up: The loss of tax deductions . In most cases, people who lack a mortgage pay more federal and state income taxes than those who qualify for a mortgage deduction. A Mortgage Calculator illustrates this point: Assume that a buyer is currently paying Read More...
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11 April 2008
2008:The Best Year to Buy a Home in 35 Years!
In April of 1973 , mortgage rates were about the same as they are today. Since that time, we have only had mortgage rates this low during 2001 and 2002, the height of the seller's markets where there was little inventory. In the last two major buyer's Read More...
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03 April 2008
Good News!..Feb. 2008 Homes Sales in a Stable Range..
Sales of existing homes increased in February and remain within a fairly stable range, according to the National Association of Realtors®. Existing-home sales - including single-family, townhomes, condominiums and co-ops - rose 2.9 percent to a seasonally Read More...
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02 April 2008
What Happens in Escrow?
An escrow is an arrangement in which a disinterested third party, called an escrow holder, holds legal documents and funds on behalf of a buyer and seller, and distributes them according to the buyer's and seller's instructions. People buying Read More...
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02 April 2008
RENTERS BEWARE!
If you are currently renting , the following might be helpful. Just for comparison: if you are currently Renting and paying $2k per month and could have bought a $400K home a year ago at last years interest rates with a mortgage of around $1800, that Read More...
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24 February 2008
Home Buyer Checklist
All Buyers usual hire a quality Home Inspector and I certainly recommend doing so. In general, here are some things to keep in mind when searching for a home. What is the age, condition and value of the house compared to others in the neighborhood? Is Read More...
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