PERFECT TIME TO BUY!!! JOHN TEEUWEN'S MORTGAGE HOTLINE (757) 639 6935

By
Mortgage and Lending with OLD VIRGINIA MORTGAGE

What? Are your kidding, haven't you seen the news?  The Real Estate Market is a bust!

Yeah, Yeah....I know that most everyone is negative on the real estate market.....fueled by mass media hysteria....

But, NOW is the PERFECT TIME TO BUY or REFINANCE! And, I will give you a few supporting arguements:

1) RATES! YIKES....NOT TRUE...RATES ARE GREAT CONSIDERING THAT THEY ARE IN THE LOW 6'S TO 5'S FOR CONFORMING LOANS....NOW, WE ARE NOT ALL EXPERTS IN THIS FIELD....BUT WHEN THE SHORT TERM RATES AT BANKS IS AT 7.50 %....FOLKS.....HAVE A 30 YEAR FIXED RATE BELOW PRIME???? THAT USUALLY IS JUST NOT POSSIBLE!!!  WE ARE IS A VERY STRANGE MARKET.....JOHN TEEUWEN'S MORTGAGE HOTLINE TIP # 1: GO OUT AND TAKE ADVANTAGE OF THE CURRENT RATES!

2) INVENTORY: CURRRENTLY, IN THE HAMPTON ROADS MARKET WE HAVE A 1 YEAR SUPPLY OF HOMES.  JUST TWO YEARS AGO....PEOPLE WERE PURCHASING HOMES AND OFFERING THOUSANDS OF DOLLARS ABOVE THE LIST PRICE....WHY? HOMES WERE IN SHORT SUPPLY AND THEY WERE SELLING JUST 2 DAYS AFTER BEING ON THE MARKET....(I'VE SEEN THEM SELL WITHIN HOURS!).  JOHN TEEUWEN'S MORTGAGE HOTLINE TIP # 2: GO OUT AND TAKE ADVANTAGE OF THE AVAILABLE INVENTORY!

3) CLOSING COSTS: JUST 1 1/2 YEARS AGO....NO LONG AGO, IS IT? NO WAY, UNLESS YOU WERE LUCKY OR NEGOTIATED LIKE CRAZY....WERE YOU GOING TO GET YOUR CLOSING COSTS PAID....GUESS WHAT? I REALLY CANNOT THINK ABOUT ANY CLOSING I'VE HAD IN THE LAST YEAR THAT DID NOT INCLUDE SOME CLOSING COST ASSISTANCE......JOHN TEEUWEN'S MORTGAGE HOTLINE TIP # 3:  GO OUT AND TAKE ADVANTAGE OF SELLER'S PAYING YOUR CLOSING COSTS!

4) PRICE CONCESSIONS: GUESS WHAT? BELIEVE IT OR NOT.....SELLER'S / BUILDERS / WHOEVER.....ARE SO WORRIED ABOUT THEIR LISTINGS SITTING ON THE MARKET THAT THEY ARE IN FACT EXTENDING PRICE CONCESSIONS!!  THAT'S RIGHT, GIVING YOU WHAT?  BARGAINING POWER! NOW, I DO NOT WANT TO SAY HOW OLD I AM....BUT LAST TIME I REALLY SAW PEOPLE HAVE SOME REAL NEGOTIATING POWER LIKE THIS CURRENT MARKET WAS IN THE LATE 1980'S EARLY 1990'S.....JOHN TEEUWEN'S MORTGAGE HOTLIN TIP # 4: GO OUT AND TAKE ADVANTAGE OF YOUR BARGAINING POWER!

5) TAXES: WELL, WE ARE AT THE END OF THE YEAR.....NEED I SAY MORE? YOU'RE INTELLIGENT, RIGHT? WELL, GUESS WHAT? GO SPEAK WITH YOUR CPA....MANY OF THE COSTS ASSOCIATED WITH OBTAINING A MORTGAGE FOR YOUR PRIMARY RESIDENCE IS TAX DEDUCTABLE!....JOHN TEEUWEN'S MORTGAGE HOTLINE TIP # 5: GO OUT AND TAKE ADVANTAGE OF PURCHASING AT YEAR'S END AND TAKE A GREAT TAX DEDUCTION!

6) REAL ESTATE PROFESSIONALS: I WILL ADMIT THAT MANY OF THE REAL ESTATE PROFESSIONALS HAD A RIDE THAT MAY HAVE BEEN TOOOO GOOD! I KNOW I WILL HEAR IT FROM THIS ONE....BUT IT IS TRUE!  ALL OF US (I KNOW THAT I AM GENERALIZING) SO,,,,,LET ME SAY MANY OF US HAD IT TOO GOOD.  THE CONSUMER WAS CHASING AFTER US!  OFTEN MORTGAGE ORIGINATORS, REAL ESTATE AGENTS, APPRAISERS, ETC....SIMPLY WE NOT RETURNING CALLS PROMPTLY AND NOT GIVING THE CONSUMER THE "PERFECT/HIGH-END SERVICE" THAT REALLY IS TO BE EXPECTED....I THINK THAT IN THE CURRENT SITUATION, WE HAVE A LOT OF EXTREMELY TALENTED INDIVIDUALS THAT ARE READY TO WORK FOR YOU!  SO.... JOHN TEEUWEN'S MORTGAGE HOTLINE TIP # 6:  GO OUT AND TAKE ADVANTAGE OF AVAILABLE REAL ESTATE TALENT (READY, WILLING AND ABLE) TO WORK FOR YOU!

7) PROGRAMS: SO OFTEN I HEAR PEOPLE ...... WHINE? WOULD ONE SAY?....ABOUT HOW THE "MORTGAGE SUB - PRIME MELT DOWN" IS HAVING A NEGATIVE EFFECT ON THE MARKET....THE MORTGAGE PROGRAMS JUST AREN'T AVAILABLE, BLAH, BLAH , BLAH......NOW, I AM NOT SAYING THAT THE 580 CREDIT SCORE, GROSSLY OVER STATED INCOME , STATED ASSET , 104 % LOAN IS STILL AVAILABLE....BUT....SHOULD SOMETHING LIKE THAT REALLY HAVE EVER BEEN AVAILABLE??

THE PROGRAMS MANY OF US NEED ARE OUT THERE AND YES! 100 % , EVEN 103% THROUGH THE VHDA IS STILL AVAILABLE....YOU SIMPLY NEED TO DISCLOSE YOUR ACTUAL INCOME! WHAT??? i NEED TO BUY A HOUSE I REALLY CAN AFFORD??? SIMPLE ANSWER.....YES!

NOW, THERE ARE STILL STATED AND NO INCOME VERIFIED LOANS AVAILABLE....AND THEY TOO ARE A GREAT DEAL....SIMPLY PUT...YOU NEED TO PUT ANYWHERE FROM 5 TO 10 % DOWN , HAVE AMPLE RESERVE INCOME, GOOD CREDIT SOCRE, BALH, BLAH, BLAH.....SO: JOHN TEEUWEN'S MORTGAGE HOTLINE # 7: GO OUT.....ASK A PROFESSIONAL!!! ASK ABOUT THE AVAILABLE MORTGAGE PROGRAMS FOR YOUR SPECIFIC SITUATION!

 

Comments (1)

Lorrie Ann Thomas
One Realty Group Edge - The Sanders Team - Woodstock, GA

Jinx you owe me a soda!

I just posted the same thing pretty much!  Great minds must think alike, Great Post! ~Lorrie Thomas

Nov 16, 2007 12:50 AM