No Time To Waste On Short Sales; Buy Something You Can Close in 30 Days!

Reblogger Maureen McCabe
Real Estate Agent with HER Realtors

 

This is a Re-Blog of a post by Mike Jones, an out of town mortgage broker.  Thanks Mike!

I'd have Re-Blogged any local lender who said the same thing: 

  • Buyers, call your REALTOR*. 
  • Don't squander the opportunity on a short sale that won't close for months.  The rates may have evaporated by then.  
  • Get something under contract that you can close in 30 days
  • Call your favorite mortgage broker, complete your application, and LOCK IN THE BEST RATE

* 614-388-8249

Yes the short sales can be tempting. 

In some neighborhoods you can find NON Short Sales priced very similarly. 

It's about time.

 

Original content by Mike Jones NMLS 223495

Rainbow in the storm by my hiking friend Chuck ParkJust like this magical rainbow in the middle of a storm, there's a sweet spot emerging right now for buyers, agents and lenders.  It's a convergence of price and the cost of money.

Home prices have fallen to levels affordable for buyers across the spectrum. 

Today, on the announcement that the Fed plans to buy as much as one trillion dollars of bonds, rates fell.  Qualified buyers (for the moment) can borrow purchase money at a fixed rate in the mid fours.  Qualified borrowers can refinance existing mortgages.

It's a sweet spot in the middle of a financial storm, and I believe its beauty is destined to be momentary.

The future must hold rampant inflation again, as the government prints money out of thin air.  There will be inflation, but not this month.  Not at this moment.

Yesterday was St. Patrick's Day, and the interest rate Leprechauns are spilling gold at the end of the rainbow.  Don't hesitate to take advantage of this lull in the storm. 

  • Buyers, call your REALTOR. 
  • Don't squander the opportunity on a short sale that won't close for months.  The rates may have evaporated by then.  
  • Get something under contract that you can close in 30 days
  • Call your favorite mortgage broker, complete your application, and LOCK IN THE BEST RATE.

_____________________________________

I'm Mike in Tucson, your preferred Tucson, AZ Mortgage lender.
Mike Jones (Tucson Mortgage Company, LLC): Loan Officer in Tucson, Pima County, Arizona
Think of me as your Tucson mortgage expert.

Call me if I can help you with a purchase or refi mortgage;
(520) 349-9090

photo copyright Chuck Park (used with permission)

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Topic:
Lending / Financial
Location:
Ohio Franklin County
Tags:
finance
first time home buyer
mortgage

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Rainmaker
140,962
Khash Saghafi NMLS
Liberty Home Mortgage Corporation - Cleveland, OH
Mortgage Loan Officer, Cleveland OH NMLS 1114762

Hey Maureen,

  This is a very nice re-post.  All of his points are very valid and this is the message that, unfortunately, does not get pushed enough by the media.  Everyone is so terrified due to the news and the messages in the news that it is hurting the industry. 

Mar 18, 2009 11:26 PM #1
Ambassador
2,747,077
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Agreed.  Mike's post was timely and well informed.  It inspired me too.

 

Mar 18, 2009 11:29 PM #2
Rainmaker
1,479,697
Maureen McCabe
HER Realtors - Columbus, OH
Columbus Ohio Real Estate

Hey Khash write good content with an Ohio flavor and if I see it, I will reblog it. 

I don't like a lot of contact info on the bottom of a post... I thought a moment or two about not Re-Blogging Mike's content....  but it is too good a message NOT to. 

Thanks for the comment Lenn!  Mike hit the nail on the head when it comes to a buyers best interest.

Mar 18, 2009 11:41 PM #3
Ambassador
754,419
Mike Jones
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ
Mike Jones NMLS 223495

Whew!  Almost axed, and I didn't even know it.  LOL  Maureen, thanks for reblogging.  I always put that tag on public postings because people find us by accident on the internet.  (And I only originate loans in Arizona.  No competition for the local folk.)  Much Success today!

Mike in Tucson

Mar 19, 2009 02:29 AM #5
Rainmaker
1,479,697
Maureen McCabe
HER Realtors - Columbus, OH
Columbus Ohio Real Estate

Don't worry Mike the good content outweighed my personal taste or lack there of.... I have never really thought of it being from the point of view of people originating outside of statelines... or unlocally... well except in the case of California...

I like local flavor... but good information trumps local.

It is a great message... it is about time.

Mar 19, 2009 02:43 AM #6
Rainmaker
1,479,697
Maureen McCabe
HER Realtors - Columbus, OH
Columbus Ohio Real Estate

closing comments on this old post due to spam.

Sep 19, 2011 10:39 PM #7
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Rainmaker
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Maureen McCabe

Columbus Ohio Real Estate
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