So it’s officially a buyers market!!!!!!!! Anyone care to argue the point; I encourage you to step forth. The reason for my passion is clear; buyers have everything going for them. Let me rephrase that; Qualified Buyers have everything going for them. Here’s the list:
1. Interest rates are historically low. This week already I had a client 20% down 2nd home, I gave them a 5.5%.... 30 year fixed!
2. Sellers are more motivated than ever. With the average days on market in the valley creeping towards triple digits and some sellers forced to carry two mortgages, they are settling for lower purchase prices and have been increasing the incentives. Buyers, if you are paying your closing costs……..get a new agent!
3. President Bush has implemented his stimulus package, which would toss more money into circulation in hopes to raise consumer spending. The most dramatic change in the plan is a new provision raising the limits for loans that may be purchased by Fannie and Freddie. This means people, who in the past, were over $417,000 loan amount were hit with a higher interest rate can know refinance and get a significantly lower rate and payment.
What do I suggest you do to capitalize on this market? Contact your mortgage planner and your realtor and get a plan together. Even if you are 6-12 months out. Get a plan together!
This is a GREAT time to buy Real Estate!
February 27th, 2008 at 01:20 am
February 27th, 2008 at 01:31 am 1204075918
I too am in the mortgage business. That said, I am on the other side. I am a national title company owner who holds direct licensure in NY, NJ, FL, PA, MD, MO, MI and MN. I would love to work with your office both within the industry and within this blog center. I believe we have a lot to offer our investment minded, financially fiscal friends and of course, affordable real estate is a very useful too in anyones portfolio. I for one find it hard to believe that real estate is any more affordable than right now.
Drop me a line at jshoemaker@statewidesettlement.com or feel free to visit our website at www.statewidesettlement.com. I will also maintain an open forum communication with you here for others to follow our relationship.
February 27th, 2008 at 04:46 am 1204087565
Just so you don't get in trouble, this website has a policy against solicitations of any kind....
So, you can talk about your business... so long as you don't solicit for it....
But I don't run the site here, so if you have any questions, I would recommend talking with one of the site admins here, Jeffrey.
Some on here are in the mortgage industry, and the truth is it's been hurting out there. But there again, I'll let the appropriate people speak for themselves.... But I'm glad that you are pumped! Please don't let me rain on your parade!
February 27th, 2008 at 04:07 pm 1204128430