best deal: Real Esate News - 12/10/09 04:04 AM
York County Pennsylvania here !
 
Great artical !
 
We've been watching a buyer's market for so long, we've almost forgotten how to see the signs of the building of a seller's market. Keep in mind, a seller's market slowly builds (over months) while a buyer's market can hit overnight.

While the National Association of Realtors announced sales of resale homes jumped more than 10 percent nationally in October 2009 over a year earlier - those numbers are not the numbers to watch while you're trying to find the bottom of your local market. Don't make a local decision … (1 comments)

best deal: It's the least we can do..... Special Rules for Members of the Military, the Foreign Service - 12/03/09 11:33 PM
 

Congress has acknowledged the unique circumstances affecting members of the military, the foreign service and the intelligence community by making the following exceptions that apply to both the $8,000 tax credit for first-time home buyers and the $6,500 tax credit for repeat home buyers.
Exemption From Tax Credit Recapture Rules
Typically, homes that are sold or that cease to be used as a principal residence within three years of the initial purchase are subject to recapture of the tax credit.
However, qualified service members who sell or move from a tax credit home within three years of the initial … (1 comments)

best deal: Fannie and Freddie Fail To Meet Low Income Lending Goals - 11/30/09 05:01 AM
York County Pennsylvania home sales here !
 
Fannie and Freddie Fail To Meet Low Income Lending Goals
 
We have heard how evil lenders have been writing loans to families that could not pay it back and causing the housing crisis. But if you look at the facts  Fannie and Freddie encouraged this behavior.
By admitting they have failed to hit their quota they are telling us that even they think the mandates that Congress gave them are crazy.
Both companies missed their 2008 goal to set aside 56 percent of their loan purchases and mortgage guarantees for low-and moderate-income … (1 comments)

best deal: New Home Sales Down Even With First Time Homebuyers Credit - 11/30/09 04:34 AM

New Home Sales Down ! First Time Homebuyers Tax Credit Not Helping Much .....
New Home sales dropped in September as buyers decided this may not be the time to purchase a new home. Single family homes sales were down nationwide by 3.6 percent.
What is interesting is that the National Association of Home Builders used the downturn as a call for Washington to increase the $8,000 new home buyers subsidy. Now I understand why, that is $8,000 more per home the government will give the builders towards the price of a home, or if we want to be technical, … (0 comments)

best deal: mortgage pre-approval - 05/08/09 01:30 AM
  York County Pennsylvania here!
  All comsumers need to know this! !!!!
  
  
One lender is all you need, and you may or may not end up working with that lender.
  
A mortgage pre-approval is the same as an approval in the sense that both involve a check of your finances and your credit. Pre-approval is something less than approval, however, because the property value is preliminary and won't be definitively established until you have a purchase contract. Furthermore, a pre-approval may not specify a mortgage price, and if it does specify a price, it is not binding … (1 comments)

best deal: Credit Scoring and interest rates!!! - 01/26/09 02:23 AM
Hello All,
My lender just sent me this!
   "What's your rate?"
      If I had a dollar for every time I've been asked that question, I'd retire! While that is never the right question to ask when searching for an appropriate mortgage package, in this market it is an open invitation for your clients to be "taken to the cleaners" by those "not so honest" lenders that are still "out there" in big numbers!!
      Everywhere you turn you are hearing the drumbeat of "4.5% mortgage rates" or even lower. While it's true that 4.5% money is available, what most … (1 comments)

 


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