Archives of real estate blog entries for June 16, 2008 (Page 63)

Blog posts


Where have all the Lender's Gone - Long Time Passing - 10:21 AM
Here is a great post by Rick Soukoulis about what is happening in the mortage industry and what we can expect in the future.  Thanks Rick for keeping us all up to date.    What the heck is going on here?  Washington Mutual has closed virtually its mortgage lending centers.  Countrywide is being sold to the Bank of America.  B of A says it will eliminate many of Countrywide's programs. Getting a loan seems like it's no longer as easy as it used to be. Again, I ask, what the heck is going on? First, getting a loan is going to be different, but … (0 comments)

Different portions of your credit file are given different weights - 01:06 AM
Different portions of your credit file are given different weights. They are:
35% - Previous credit performance (specific to your payment history) 30% - Current level of indebtedness (current balance compared to high credit) 15% - Time credit has been in use (opening date) 15% - Types of credit available (installment loans, revolving and debit accounts) 5% - Pursuit of new credit (number of inquiries) Credit scores only consider the information contained in your credit profile. They do not consider your income, savings, down payment amount, or demographic factors like gender, race, nationality or marital status. Past delinquencies, derogatory payment behavior, … (1 comments)

What changes your Credit Score...cont from previous Blog - 01:08 AM
Recent changes minimize the negative effects that rate shopping can have on a mortgage applicant. If there is a consumer originated inquiry within the past 365 days from mortgage or auto related industries, these inquiries are ignored for scoring purposes for the first 30 calendar days; then, multiple inquiries within the next 14 days are counted as one. Each inquiry will still appear on the credit report.
Every score is accompanied by a maximum of four reason codes. Reason codes identify the most significant reason that you did not score higher. The reason codes can help a lender describe the reasons … (0 comments)

Understanding Standard ARMS and the Differences - 01:12 AM

A few options are available to fit your individual needs and your risk tolerance with the various market instruments.
ARMs with different indexes are available for both purchases and refinances. Choosing an ARM with an index that reacts quickly lets you take full advantage of falling interest rates. An index that lags behind the market lets you take advantage of lower rates after market rates have started to adjust upward.
The interest rate and monthly payment can change based on adjustments to the index rate.
6-Month Certificate of Deposit (CD) ARMHas a maximum interest rate adjustment of 1% every six … (1 comments)

Refinance Considerations - 01:22 AM
When you're making your decision, there are several things to keep in mind.
If your current interest rate is significantly higher than today's lowest rates, you may be able to roll your loan costs into the loan and still get a lower rate than you have today, thereby reducing your interest payments and saving money immediately.
Second, if you are planning to stay in your home for at least three to five years, it may make sense to pay "points" (a point equals 1% of the loan amount) and closing costs to get the lowest available rate.
And third, you can … (0 comments)

A Mortgage Check up - 01:35 AM
Just like you need to get your teethe cleans or change the oil in your car...you should know what your mortgage is and if you have the best loan for your financial goals.
It always amazes me that people in general dont know what rate they have on there home mortgage.
We we do a loan for a client we offer a once a year free mortgage check up.  This reminds you of what your rate is and give us a chance to go over your long term financial goals.  Usually, unless you are saving a chunk of change, we recomend … (1 comments)

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Safety issues regarding domestic water heaters. - 08:29 AM
The first is the explosive potential of hot water heaters.
Water, when it changes to a gas (steam), expands 1,700 times!
When a thermostat on a water heater fails, the rise in temperature and pressure could continue until the tank bursts.  The superheated water would then instantly flash over into steam and explode with the force of 200 sticks of dynamite, enough to destroy the home and kill everyone in it.
To prevent such catastrophes, water heaters are required to be protected for both over temperature and over pressure with at Temperature and Pressure Relief (TPR) valve or a relief valve in conjunction … (1 comments)

400 Distressed S. Florida Properties Cut Below $150,000 - 11:49 AM
Nearly 400 South Florida condominiums, townhouses, and single-family houses in the Vultures DatabaseTM have been cut in price to $150,000 or less, with the cheapest residence slashed to $31,000, according to a June study from Condo Vultures® LLC. The under-$150,000 properties in the Vultures DatabaseTM are comprised of 64 single-family houses and 322 condominiums and townhouses scattered throughout 24 South Florida cities and neighborhoods. Overall, there are 4,356 properties including short sales, foreclosures, Real Estate Owned by the bank in the Vultures DatabaseTM, according to the report. Miami (95 properties), Hallandale Beach (49 properties), and Miami Beach (42 properties) have the … (0 comments)

Toni's C'Mon...Mangia! - 11:44 AM
In addition to working hard to find great homes (and sell current homes - FAST!) in the military and civilian communities in Maryland and Virginia, my other love is Italian Cooking!  I mail out several hundred personal recipes monthly to my clients.. recipes that came directly from my native Naples, Italy - and that have been favorites of family and friends for years!  You'll love my Marinara Sauce and my Bruschetta recipes!  If you'd like to be added to this monthly Mailing List - just let me know!  Try it - you'll like it!  C'Mon...Mangia!  and Enjoy! 
 
… (1 comments)

Why it's a great time to buy a House? - 11:34 AM
Today's market is ripe for all Buyers.  Real Estate inventory is at an all time high with almost 1,000 homes on the market in St. Mary's County.  As your agent, I can help you navigate through the steps to buy a home...from selecting the property, inspection contingencies, negotiating the offer and settlement on your NEW HOME!  Call me to find out how or visit my website at www.edandkelsell.com or (301) 520-3712.
… (0 comments)

We are at the bottom, Better buy now - 11:38 AM
For all those people looking for the bottom of the real estate market,, its here. Interest rates will rise soon. When they do people will begin to realize monthly payments will increase. Now is the time! have you seen the price of rent lately. Its cheaper to buy than rent
… (5 comments)

Smithtown Real Estate - Brief History - 08:35 AM
Here is another take on the history of Smithtown, Long Island, New York in Suffolk County. The town was first settled in 1650. The local legend has it that Native Americans told Smith (an early settler) that he would be granted title to all the land he could ride across in one day on a bull. The land he acquired in this way is said to estimate the current town’s location. There is a large statue of Smith’s bull known as Whisper, at the fork of Jericho Turnpike and St. Johnland Road. The town was originally named as Smithfield.
… (0 comments)

Smithtown Real Estate - Houses for sale in Smithtown Long Island - 08:36 AM
Each year, the Smithtown Recreation Department hosts a free Concert Series at Hoyt Farm Park on New Highway in Commack. This year, seven concerts will be presented during July and August, appealing to a wide range of musical tastes. Additionally, we will hold two Friday night Kids Concerts especially for children in the elementary grades. One of the highlights of the Summer will be the August 1st viewing of the block buster hit, BEE MOVIE on the big screen. As always the events will be free of charge! In case of light rain every effort will be made to move the … (1 comments)

Another one "home" bites the dust.... - 06:29 PM
I don't think there is really anything more disturbing than to watch a home that is listed for sale, end up a casualty of foreclosure in today's market.  Over the recent 7 plus months we have watched at least a dozen homes be lost to foreclosure.  These homes were homes NOT listed by us; various clients had made market appropriate offers on them.  The typical response from the listing agent is either NO response to our offer, or t"he bank is reviewing offers"......An experience Short Sale agent knows what it takes to get the bank to respond to reasonable offers.  With … (1 comments)

SOMETHING ABOUT MENDOZA ARGENTINA - 03:17 PM
National Grape Harvest Festival, ArgentinaFiesta Nacional de la VendimiaThe Grape Harvest is the most popular festival of Mendoza, is the work symbol, the biggest celebration of Mendoza people because of representing the finished work (the grape harvest).The vine origin is very linked with the spiritual farm work, since the evangelist used wine for celebrating the mass.The national festival mobilizes the people, thousand of them -mendocinos and tourists- ; entail all sort of events as: dances (referred to wine), sports, art, theater, religion, typical food, carriages, people from all world and fireworks; all those activities during three months (from January to March).The … (0 comments)

2446 Mooneyham Ln. - Horn Lake, MS 38637 - 05:49 PM
NEAT AS A PIN!

$142,0003 Bedroom, 2 Bath - split bedroom plan2 yr. old home with 2-car garage1,602 sq. ft.Open floorplan, Master Bath with jetted tub and separate shower
 
 
 
       
Virtual Tour>>>
Appliance to remain include smooth cook-top stove, built-in  microwave, dishwasher and side-by-side refrigerator.
Large pantry and separate laundry room
Fully Fenced backyard with beautiful landscaping
… (0 comments)

SHOCKED - 08:08 PM
I went into a new territory for me today and I asked how can I assist you with your clients. What can I do for you?
My answer was get me business and then we will talk. I was shocked. What happened to what was right for the client?  Not every mortgage is right for every client, this realtor would not even chat with me and discuss what I had to offer.
Please tell me this isn't the norm!
Is it more important for you to build up a client base or to ensure you client has a seasmless transaction? Wouldn't … (8 comments)

The Mortgage Mess... - 11:31 AM
What a mess the mortgage industry is in right now.  Something needs to be done and the guys with the nice coats and ties up in Washington can't fix this because they don't know what the root of the problem is.  On top of that, they have no idea and the mortgage mess is filtering down tier after tier and how the old problems are causing new problems and more than likely these new problems will become old problems with new problems emerging that we don't even realize yet. 
With interest rates increasing to an 8 month high (as of the … (2 comments)

Come on home to the country! - 03:05 PM
Hey Everybody!  Lets talk about my great property out in Red Lick Kentucky!
The Red Lick area is more of a valley, just minutes from Berea.  Up the road one way is Indian Fort Theatre where the Guild Fairs are held every year, down the road the other way is Tater Knob Pottery.  You will have a hard time finding a place with more beautiful mountain views, spectacular sunsets or friendly neighbors!
Situated on a slight knolll 600 feet from the main road, this home is perfectly situated on 10+ acres with 360 degree mountain views.  Sit and watch the sun … (0 comments)

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