louisiana: Mortgage Rates Are Creeping Back Up
- 06/15/09 12:23 PM
Mortgage rates hit 7 month high with an average of 5.59% so lock in your rate now if you're considering buying or refinancing. … (0 comments)
louisiana: New Interest Rates From NOLA Lending Group
- 11/25/08 06:51 AM
NOLA Lending Group just announced new mortgage interest rates. Conventional 30 year fixed is 5.75% with 95% financing. FHA and VA 30 fixed are 6.50% with 97% financing for FHA and 100% financing for VA. Call me, 985-788-5665, or message me if you need more info. … (0 comments)
louisiana: 25% Off Sale
- 10/08/08 05:09 AM
On November 28, the day after Thanksgiving, retailers will open their doors to waiting crowds of shoppers looking for the ultimate bargains. Limited quantities of high demand, on sale electronics and toys will fly off the shelves. Retailers are also advertising rock bottom prices on cars, trucks, jewelry, and appliances. Large supplies and reduced demand are driving prices to unprecedented lows. The same is happening in real estate. There is a large inventory of homes and property for sale in today's market. Tighter lending requirements have reduced the number of qualified buyers. The result is great prices on one of the … (0 comments)
louisiana: St Tammany Parish Property Tax Assessments Are Out
- 10/04/08 11:24 AM
All St Tammany Parish property owners should have received a letter from the Parish Tax Assessor's office outlining their proposed 2008 property tax assessment. Owners are allowed to appeal the assessment during the public review period that ends October 16th if they disagree with the assessed value. The assessor's website, www.stassessor.org, has assessment review forms which are used to submit appeals. Please contact me if you have questions about how your taxes are computed or if you need a current market value of your property. … (1 comments)
louisiana: Bond Money Issue
- 08/26/08 09:14 AM
A new issue of Louisiana State bond money is available for homebuyers. The rate is 6.625% and is fixed for 30 years. With this program, borrows get 4% of their loan amount in GRANT money to help with down payment/closing costs. That means you get 4% of the loan amount for free. Income limits are $71,760 for a 2 person household and $83,720 for a 3 or more person household. This program can be used in conjunction with FHA, VA, Rural Development, and conventional loans. If you have remotely considered buying a house then please don't hesitate to call because as … (0 comments)
louisiana: To All First Time Home Buyers
- 08/06/08 02:45 AM
The new federal housing bill includes a First Time Home Buyer Tax Credit for homes purchased between April 9, 2008 and July 1, 2009. The bill provides a maximum $7,500 tax credit for first time home buyers. For more information go to the NAHB's new website www.federalhousingtaxcredit.com. … (0 comments)
louisiana: How do you buy a house? Let us count the ways.
- 08/03/08 11:56 PM
1. VA 2. Fannie Mae Repo 3. FSBO 4. Bond for Deed 5. State Bond Money 6. USDA 7. FHA 8. Relo 9. FHA Repo 10. Lease Purchase 11. No Document Loan 12. Parish Bond Money 13. Cash 14. VA Repo 15. Renovation Loan 16. Construction Loan 17. Bank Repo 18. Bridge Loan 19. 3/2/1 Buy Down 20. USDA Repo 21. 1031 Exchange 22. Adjustable Rate Mortgage
There are more but I'm sure you can see that there are many ways to make your dreams a reality. For more information on financing for homes please contact a lender(s) or drop … (0 comments)
louisiana: New Lending Requirements
- 07/25/08 05:09 AM
New legislation designed to help mortgage lenders Fannie Mae and Freddie Mac will take effect October 2, 2008. Although passed to support the mortgage industry, individual borrowers will find it harder to get loan approval. Lenders will begin requiring higher credit scores and more money down. In addition, interest rates are expected to continue an upward trend. If you have been considering buying a home or property then it's time to jump in the market before it tightens up. … (0 comments)
louisiana: Get a Second Opinion
- 07/11/08 12:04 PM
Okay maybe not a second opinion, but it pays to shop around when it comes to your home. Whether it's homeowners insurance, a mortgage, or even a real estate agent, it pays to shop around. When considering buying a home or property, check more than one lender. Banks and mortgage companies have different products and just because one doesn't qualify you, another may. Or one lender may have a product that is better suited for you than another. This also applies to insurance. Even if you have insurance now, take the time to check around. A few phone calls can save … (0 comments)
louisiana: Real Estate Update for 26 June 2008
- 06/26/08 07:08 AM
Existing home sales increased 2 percent in May. The national median price for exiting homes is down 6.3 percent to $208,000. This decrease is sales price has undoubtedly brought more buyers into the market. On the other hand, new home sales declined by 2.5 percent with median sales price down 5.7 percent from a year ago to $231,000. Please remember that these are national averages. Contact me if you would like information on your neighborhood or an area you're considering buying in. … (0 comments)
louisiana: Louisiana Foreclosure Rate Drops 15%
- 03/17/08 01:48 PM
This is a reminder that real estate is all about location. The national foreclosure rate is up 60% from this time last year. Louisiana's foreclosure rate is down 15.25% for the same period. Our state is one of only five in the nation that can claim a drop in foreclosure its rates. So remember, national averages and rates are not a good indicator for the local market. Please let me know if you would like an analysis on your home or property. … (0 comments)
louisiana: Real Estate Today: Isn’t What It Was Last Year
- 09/01/07 01:52 AM
CNN reported yesterday that the average home sale price in the New Orleans Metro area is down 6.7% from this time last year with the average price being $166,000. Baton Rouge has done better with an average sale price of $174,000, up 1.4%. The national average is down 1.5% for an average price of $223,800. St Tammany Parish has faired much better. Although the total number of sales is down about 34%, our average sales price has risen an average of 7% from this time last year. Homes are taking longer to sell but homeowners are making more concessions to help … (1 comments)
louisiana: Homeowners Insurance or Home Warranty
- 08/10/07 02:55 AM
To start, if you have a mortgage on your property the mortgage company will require you to carry homeowners insurance since the mortgage company has an interest in your property. Homeowners insurance policies cover most major perils such as fire, wind damage, etc. A home warranty on the other hand covers things such as deterioration and mechanical breakdowns of major appliances. Basic policies typically range from $300 to $450. Additional options may be included such as septic tank, spa, and swimming pool. … (0 comments)
louisiana: “For Sale By Owner” aka "Enter at Your Own Risk"
- 07/31/07 02:40 PM
Many sellers try "For Sale By Owner" for the following reasons: Attempting to save on commission. Selling for the challenge of it. Not knowing a reliable agent. Now here are some questions you might consider before selling your home yourself: Are you comfortable with contracts and how to fill them out properly? Are you aware of the many different types of financing available for buyers? Are you aware of the documents required for closing and how they are filed? Are you familiar with the required disclosures and the consequences of failing to disclose defects? Can you afford not to have you house marketed … (0 comments)
louisiana: What is a short sale?
- 07/20/07 03:37 PM
A short sale is a sales transaction in which the seller's mortgage lender agrees to accept a payoff of less than the balance due on the loan. For homeowners who are upside down and can no longer make their mortgage payment (because of either a job loss, divorce, or an option ARM that's resetting higher), up to now the only option was to let the bank foreclose. That stays on your credit record for at least 10 years. Some experts are now advocating a "short sale." If your bank agrees to a short sale, you would list your home with a … (0 comments)
louisiana: Slidell Residential Sales Stats as of 6/30/2007
- 07/15/07 05:08 AM
In a nutshell, average sale prices are up 12%, total sales are down 42%, and houses are staying on the market much longer. These statistics are a comparison of the first six months of 2007 compared to the first six months of 2006.
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louisiana: Fannie Mae Offering New Loan Program
- 06/08/07 01:18 PM
The program, Community Investment Mezzanine Fund or CI Mezz-Mod Rehab for short, is designed for multifamily properties undergoing rehabilitation. The program offers many benefits to investors such as higher leverage, flexible funding, and supplemental financing. The minimum loan amount is $500,000 so I won't be using it this week. You can get more information at Fannie Mae's website: www.efanniemae.com/mf/finsolutions/products/pdf/cimezzmodrehab.pdf. … (0 comments)
Mortgage rates hit 7 month high with an average of 5.59% so lock in your rate now if you're considering buying or refinancing.;)
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