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04 August 2008
The Housing and Economic Recovery Act
This week, President Bush signed the "Housing and Economic Recovery Act of 2008" into law. This $300 Billion rescue plan is aimed at helping struggling homeowners avoid foreclosure, as well as boost confidence in the housing market. Although Read More...
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17 July 2008
Focus on the Lender: An Interview w/Dean Wong - First Cap. Mortgage
In an effort to find solutions for my Buyers, I took the time to interview Dean Wong at First Capital Mortgage . I have known Dean for 5 years and have worked with him on many transactions. TOM :First of all Dean, thank you for taking time to chat with 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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14 July 2008
Forecast for the Week - July 14, 2008
We could be in for another explosive week, as several reports will show the impact inflation continues to have on the economy. Tuesday will bring the wholesale inflation measuring Producer Price Index as well as the Retail Sales Report, which measures Read More...
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04 May 2008
When should you get Pre-Approved for a Loan?
I recommend that prospective home buyers get Preapproved as a way of establishing their good faith to home sellers and agents. Home buyers sometimes get into trouble because they aren't clued into the sequence of steps involved in financing their 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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07 April 2008
Bond Prices move higher...Rates move lower!
Remember, when Bond prices move higher, home loan rates move lower ...Bonds have rebounded higher off of their key 50-day moving average support level, and are moving back toward the upper portion of their current trading range. This means if Bond prices Read More...
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07 April 2008
Taking an Interest in your Credit Card Rate...
Credit cards are one of the most pervasive forms of your financial picture. On a daily basis, they provide the flexibility and freedom to reserve a hotel room, travel without carrying cash, and purchase just about anything at anytime. As such, your credit 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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