Mortgage Updates
No Interest Loan of $7500 for Buyers
August 28th, 2008 Categories: Mortgage Updates, Real Estate
President Bush signed into law the “Housing and Economic Recovery Act of 2008“. This rescue plan for the housing market contains a tax credit of up to $7500 for buyers. Here are the details:
If you are a First Time Home Buyer who closes between April 9th, 2008 and July 1st, 2009, you may be eligible. First time home buyer is defined as someone who has not owned a home in the past 3 years.
The amount you can claim is the smaller of 10% of the purchase price or $7500.
This tax credit should be viewed by the consumer as an interest free loan, because unfortunately, Read the rest of this entry »
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Mortgage Interest Rate Historical Perspective
June 18th, 2008 Categories: Market Conditions, Mortgage Updates
A mortgage broker friend sent over this chart to me a bit ago and I wanted to share it with the readers. Sometimes with all the reporting and the daily grind we lose perspectives on our current situation. In terms of mortgage interest rates, boy, do we have it good?
If you would like to research refinancing or getting a pre-approval, feel free to give me a call. I have worked with several mortgage brokers and lenders who would look at your financial picture for no charge or obligation. Service is an important factor in this area, and shopping for that last bit of the lowest interest rate may not be worth the headache. I can get you started in the right direction.
I also came across this graph of the Number of Home Sales in MA since 1991.
If the MAhome Team can answer any of your real estate related questions, give Ed or Doriane Daniels a call at 508-341-7880.
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Who Else Wants to Make Money in Real Estate?
March 19th, 2008 Categories: Market Conditions, Mortgage Updates, Real Estate
It wasn’t until the past month that I have turned the corner on seeing real estate as being a great investment. I know, I am a Realtor, and should be preaching this night and day, but I haven’t. Now is the time!
I am usually a skeptic while reading the newspapers and magazines (just ask my wife!). After many months of doom and gloom, I am seeing cracks in the armor of despairI. There are properties out there that are ripe for a great investment.
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Great Expectations from a Short Sale
February 20th, 2008 Categories: Mortgage Updates, Real Estate
A friend of mine called today to tell me about an upcoming offer they were going to make on a Short Sale property. I wished them great success, but there was a lot to prep them for!
They are a young family who are First Time Home Buyers. This market holds great opportunities for these Buyers, and a Short Sale is one avenue.
Now let me tell you about my fears!
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Ouch, Low Credit Scores Can Drive You Into The Poorhouse
February 3rd, 2008 Categories: Mortgage Updates, Real Estate
Many people don’t know their credit score. When buying a home, this can translate into costing you a lot of money. The interest rates that mortgage companies can offer you are mostly dependant upon this 3 digit number.
I will spell out the top reasons why you should care about your score, as well as how to get started!
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