According to recent articles, By the end of 2011, some states will see their production levels back to normal. Arkansas is in this list. Analysts anticipate that home prices will remain flat this year and post a modest increase in 2011. Interest rates are still at all time lows….possibly as low as 4.25%.
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"I Am Building a Company, By Design, that Honors Success & Productivity."
For a short video on what is EXIT, go to www.ExitRealty.com and click "Up Close and Personal with EXIT"
Post-Tax Credit Buyers May Save Money
Missing the tax credit deadline might have seemed like a big mistake to some home buyers, but waiting could have been the smartest thing to do. Interest rates have fallen so dramatically since April 30th that the typical purchaser of a $200,000 home would have saved a bundle by waiting until May. At April’s average rate of 5.34 percent, a home buyer would have locked in a 30-year fixed rate loan with a monthly payment of $1,115.58. The same borrower could have snagged a 30-year fixed rate loan at a rate of 4.5 percent in May and paid only $1,013.37 per month. That’s a $1,226 annual savings. Over 30 years, it’s a $36,795 savings, dwarfing the $8000 tax credit.
thx,
"I Am Building a Company, By Design, that Honors Success & Productivity."
For a short video on what is EXIT, go to www.ExitRealty.com and click "Up Close and Personal with EXIT"
Original buyer lost financing and this home is move in ready. Interest rates are at all time lows. Let me know if you have someone interested in a great starter home.
If you are thinking of buying a home in the near future…you need to act now! Rates are low, which means you save money on the home you want, OR you can buy a more expensive or larger home for the same monthly payment.
Borrowers eager to lock in a very low-rate mortgage should apply in the next day or two, says Bankrate.com mortgage analyst Holden Lewis. Rates haven’t been this low since the 1950s, he says, adding that rates are unlikely to fall further. “You can float, but that's not a smart strategy. It's like asking for another card when you have 19 in blackjack. Stand and take your chances,” he advises.
thx,
"I Am Building a Company, By Design, that Honors Success & Productivity."
For a short video on what is EXIT, go to www.ExitRealty.com and click "Up Close and Personal with EXIT"
Existing-home sales rose again in April with buyers motivated by the tax credit, improving consumer confidence, and favorable affordability conditions. Existing-home sales — completed transactions that include single-family, townhomes, condos, and co-ops — increased 7.6 percent and are 22.8 percent higher than the pace in April 2009. Monthly sales rose 7.0 percent in March. Lawrence Yun, NAR chief economist, said the gain was widely anticipated. “The upswing in April existing-home sales was expected because of the tax-credit inducement, and no doubt there will be some temporary fallback in the months immediately after it expires, but other factors also are supporting the market,” he said. “For people who were on the sidelines, there’s been a return of buyer confidence with stabilizing home prices, an improving economy, and mortgage interest rates that remain historically low.” Home Prices Improve The national median existing-home price for all housing types was $173,100 in April, up 4.0 percent from April 2009. Distressed homes accounted for 33 percent of sales last month, compared with 35 percent in March. • South: Existing-home sales increased 8.6 percent in April and are 23.0 percent higher than April 2009. The median price was $150,000, up 1.2 percent from a year ago.
thx,
"I Am Building a Company, By Design, that Honors Success & Productivity."
For a short video on what is EXIT, go to www.ExitRealty.com and click "Up Close and Personal with EXIT"
Please join us for a great event. Look forward to seeing you there. See the attached flyer for details and ticket information.
thx,
"I Am Building a Company, By Design, that Honors Success & Productivity."
For a short video on what is EXIT, go to www.ExitRealty.com and click "Up Close and Personal with EXIT"
The average rate on a 30-year fixed loans declined this week to 4.84 percent from 4.93 percent a week ago, reported Freddie Mac. Also, 15-year fixed loans fell to 4.24 percent from 4.30 percent; five-year, adjustable-rate mortgages declined to 3.91 percent from 3.95 percent; and one-year ARMs fell to 4 percent from 4.02 percent.
This means you can spend less per month, for the next 30 years, on the home you want OR you can buy more house with what you want your payment to be. Home prices are lower, inventory is high and rates are low. Perfect storm for buyers!
I had clients getting 4.5% on 30 year fixed this week. Great time to buy!
thx,
"I Am Building a Company, By Design, that Honors Success & Productivity."
For a short video on what is EXIT, go to www.ExitRealty.com and click "Up Close and Personal with EXIT"
