Thanks for joining me today! I invite your comments! Last week financial and debt guru Dave Ramsey said: "If you've paid off your debt, it's TIME TO BUY real estate!!!"
Interest rates Quoted today:
30 Year Fixed 4.61% which would be $1022.56 P&I on a $200K mortgage.
15 Year Fixed 4.55% which would be $1529.31 P&I on a $200K mortgage.
FHA 30 Year Fixed 4.60% which would be $1021.38 P&I on a $200K mortgage.
5/1 Year ARM 3.89% which would be $939.15 P&I on a $200K mortgage (1st year)
And for large loans?
Jumbo 30 Year Fixed 4.96% which would be $3,725.26 P&I on a $700K mortgage. WOW!
For those interested in GOOD NEWS about Real Estate - the facts with a Positive Spin!
Monday, April 27, 2009
Friday, April 24, 2009
THERE IS HOPE!
Dave Ramsey's Town Hall for Hope... If you didn't see it last night, you have to see it this weekend. Fox Business Network is rebroadcasting this weekend, so check out when it's on in your area!
One thing Dave said real clearly.... get RID of the FEAR and do something! IF you are financially stable - you have 3-6 months in savings and are not in debt - it's time to BUY REAL ESTATE. He was adamant that THIS IS THE BEST TIME EVER to buy real estate! I know I've been saying it... along with Clark Howard, Dave Ramsey, and many others... It's TIME! Let us help!
Dave says there are Three SPECIFIC things you can do:
1. Get up and Take Action. DO something. Need an idea on what to do? ASK ME.
2. Don't be involved in the Loser Talk. Stop listening to it. Stop saying it.
3. Start GIVING. Give your time, your talents, your treasures. This will do so much for others, AND for YOU!
Want to know more? Here's another link from the website (boy this guy is good):
GET INFORMED - Historical Bio's; Statistics; Quotes and MORE....
CLICK HERE!
Let me know how I can help YOU in your real estate HOPES and dreams. Whether you are an AGENT, a SELLER, or a BUYER... I CAN HELP! Together we CAN make it happen! Call my cell at 808-294-1412 or Click HERE to email me! Thanks!
One thing Dave said real clearly.... get RID of the FEAR and do something! IF you are financially stable - you have 3-6 months in savings and are not in debt - it's time to BUY REAL ESTATE. He was adamant that THIS IS THE BEST TIME EVER to buy real estate! I know I've been saying it... along with Clark Howard, Dave Ramsey, and many others... It's TIME! Let us help!
Dave says there are Three SPECIFIC things you can do:
1. Get up and Take Action. DO something. Need an idea on what to do? ASK ME.
2. Don't be involved in the Loser Talk. Stop listening to it. Stop saying it.
3. Start GIVING. Give your time, your talents, your treasures. This will do so much for others, AND for YOU!
Want to know more? Here's another link from the website (boy this guy is good):
GET INFORMED - Historical Bio's; Statistics; Quotes and MORE....
CLICK HERE!
Let me know how I can help YOU in your real estate HOPES and dreams. Whether you are an AGENT, a SELLER, or a BUYER... I CAN HELP! Together we CAN make it happen! Call my cell at 808-294-1412 or Click HERE to email me! Thanks!
Thursday, April 23, 2009
GOOD NEWS! You CAN afford to buy again!
Thanks for joining me today! I invite your comments!
Mini Article from Wall Street Journal this week - GOOD NEWS!
In Most Markets, Homes Are Increasingly Affordable
Home prices have fallen to the point that the typical household CAN afford to buy, according to a quarterly report from economists at HIS Global Insight and PNC Financial Service Group.
The report examined price trends in 330 metropolitan areas. It said homes were “fairly” valued in 202 of the markets – prices were between 14 percent above or below the historic norm. Twenty-one markets were considered “overvalued,” or between 14 percent and 34 percent above the norm. And 106 markets were dubbed “undervalued,” or more than 14 percent below the norm.
The report takes into consideration household income, population density and differences in prices related to climate, schools and other factors.
Home prices appear likely to bottom out late this year or early in 2010 in most of the country, predicts Jeannine Cataldi, a senior economist at HIS Global Insight. Factors affecting how long the market stays stagnant include unemployment rates and the number of foreclosed homes lenders must unload.
One point from DONNA: Your monthly payment may be better NOW than when the prices actually bottom if rates go up. Contact me to explain! mailto:Donna.Stott@mail.com
Mini Article from Wall Street Journal this week - GOOD NEWS!
In Most Markets, Homes Are Increasingly Affordable
Home prices have fallen to the point that the typical household CAN afford to buy, according to a quarterly report from economists at HIS Global Insight and PNC Financial Service Group.
The report examined price trends in 330 metropolitan areas. It said homes were “fairly” valued in 202 of the markets – prices were between 14 percent above or below the historic norm. Twenty-one markets were considered “overvalued,” or between 14 percent and 34 percent above the norm. And 106 markets were dubbed “undervalued,” or more than 14 percent below the norm.
The report takes into consideration household income, population density and differences in prices related to climate, schools and other factors.
Home prices appear likely to bottom out late this year or early in 2010 in most of the country, predicts Jeannine Cataldi, a senior economist at HIS Global Insight. Factors affecting how long the market stays stagnant include unemployment rates and the number of foreclosed homes lenders must unload.
One point from DONNA: Your monthly payment may be better NOW than when the prices actually bottom if rates go up. Contact me to explain! mailto:Donna.Stott@mail.com
Friday, April 17, 2009
It's a GOLDEN TIME to sell or buy!
This is shaping up to be the ABSOLUTE best time to buy or sell in the LAST several years and probably the BEST time for the NEXT several years. People will look back and say... "why, oh why, didn't I buy/sell/invest in spring and summer of 2009"!
Easy to type... but Why the big proclamation?
1. Prices are better than they've EVER been. EVER. Why do I say that? Because when you factor in interest rates, the monthly cost of owning compared to the average income is at ALL TIME LOWS. It's called "affordability" and it means what the cost of an average home compared to the average income. If you have the ability, you need to SERIOUSLY consider doing something NOW.
2. Interest rates. We are at fixed loan rates lower than 5% in most cases and even JUMBO rates are WAY lower than they were. It's not going to get much better than this! And the possibility for rates to go UP is not looking good. Think back to the economy of the late 70's to mid 80's... think of mortgage interest rates THEN. We could only go down another .5 to 1% MAX, but we can go UP to rates OVER 10%. That's something to give SERIOUS THOUGHT to.
3. Sellers are more negotiable, but many properties are junk too. If you have a nice property at a decent price you WILL sell. If you are a buyer, you can choose to buy the ultra cheap "junk" or pay slightly more for a nice home at a nice price and interest rate. It's a WIN WIN for both buyers and sellers right now!
You can see that it IS a TRUE "GOLDEN TIME" to buy, invest, or sell in today's market.
Consider this:
If you mortgage $400,000 today at 4.75% your P&I payment is $2,078/mo
If that rate goes up to 6%, that payment goes to $2,386 ($308 more a month for 30 years is over $110K you would pay in additional payments at the same price!)
At 8% that goes to $2,915/mo.
At 10% that goes to $3,481/mo.
At 13% that goes to $4,377/mo.
At 17% (which was about the last peak in interest rates) that SAME PRICE would be a whopping $5,623 per MONTH.
See what interest rates can do? See why THIS IS THE GOLDEN TIME? Call or email us today for information on how YOU can TAKE ADVANTAGE of this market!
Easy to type... but Why the big proclamation?
1. Prices are better than they've EVER been. EVER. Why do I say that? Because when you factor in interest rates, the monthly cost of owning compared to the average income is at ALL TIME LOWS. It's called "affordability" and it means what the cost of an average home compared to the average income. If you have the ability, you need to SERIOUSLY consider doing something NOW.
2. Interest rates. We are at fixed loan rates lower than 5% in most cases and even JUMBO rates are WAY lower than they were. It's not going to get much better than this! And the possibility for rates to go UP is not looking good. Think back to the economy of the late 70's to mid 80's... think of mortgage interest rates THEN. We could only go down another .5 to 1% MAX, but we can go UP to rates OVER 10%. That's something to give SERIOUS THOUGHT to.
3. Sellers are more negotiable, but many properties are junk too. If you have a nice property at a decent price you WILL sell. If you are a buyer, you can choose to buy the ultra cheap "junk" or pay slightly more for a nice home at a nice price and interest rate. It's a WIN WIN for both buyers and sellers right now!
You can see that it IS a TRUE "GOLDEN TIME" to buy, invest, or sell in today's market.
Consider this:
If you mortgage $400,000 today at 4.75% your P&I payment is $2,078/mo
If that rate goes up to 6%, that payment goes to $2,386 ($308 more a month for 30 years is over $110K you would pay in additional payments at the same price!)
At 8% that goes to $2,915/mo.
At 10% that goes to $3,481/mo.
At 13% that goes to $4,377/mo.
At 17% (which was about the last peak in interest rates) that SAME PRICE would be a whopping $5,623 per MONTH.
See what interest rates can do? See why THIS IS THE GOLDEN TIME? Call or email us today for information on how YOU can TAKE ADVANTAGE of this market!
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