Image by TheTruthAbout via Flickr Maybe. When mortgage rates start rising it's a good indication that inflation is right behind us.
Friday, December 17, 2010
Mortgage rates are on the rise. Is inflation on the way?
Image by TheTruthAbout via Flickr Maybe. When mortgage rates start rising it's a good indication that inflation is right behind us.
Wednesday, December 8, 2010
What? Take away the mortgage interest deduction?
Image via Wikipedia The real estate industry is suffering enough as it is. The industry would take another big hit if the Obama administration moves to take away the mortgage interest deduction. This is a VERY BAD idea.
Wednesday, October 6, 2010
Bank Of America Halts Foreclosures
Image via Wikipedia Bank of America is just one more of the 'big boys' to halt foreclosures in an attempt to review their process for filing foreclosure against a property. I wonder what effect this will have on the housing industry that is still in a slump?
Share your thoughts.
Share your thoughts.
Friday, September 10, 2010
30 year Mortgage rates are rising
Check out this article from the National Association of Relators about the 30 year mortgage rates going up.
http://www.realtor.org/RMODaily.nsf/pages/News2010091001?OpenDocument
http://www.realtor.org/RMODaily.nsf/pages/News2010091001?OpenDocument
Thursday, August 26, 2010
Should you shop around before choosing a mortgage?
Think for a moment about all the big ticket items you've ever purchased. Sure, there are a few high dollar purchases you made without too much thought, but for most of them, you did your homework. You shopped and compared before you made your final decision.
So why should it be any different with probably the biggest item you'll ever buy? Your home mortgage. You DO have to think of it that way. You're not just purchasing a home; you're purchasing a home mortgage, so you can purchase that home. So why not shop around for the best home mortgage you can find? Why settle for what your bank offers?
Stay tuned. Over the coming days and weeks, I'll be giving you tips on what you should look for when shopping for that home mortgage, and why to look for them.
So why should it be any different with probably the biggest item you'll ever buy? Your home mortgage. You DO have to think of it that way. You're not just purchasing a home; you're purchasing a home mortgage, so you can purchase that home. So why not shop around for the best home mortgage you can find? Why settle for what your bank offers?
Stay tuned. Over the coming days and weeks, I'll be giving you tips on what you should look for when shopping for that home mortgage, and why to look for them.
Wednesday, August 25, 2010
Is the Housing Market Slowing Down?
From the reports I've seen lately, the housing market may be slowing down again.
Fannie-Mae has relaxed the minimum credit rating to 600, so hopefully that will help get some buyers into some of these foreclosed homes that are just sitting there. Now if only the other lenders would loosen up a little.
In Florida, this is not the time of year to have empty foreclosed homes sitting around without the Air Conditioning running. The houses start rotting from the inside out. And we are at the peak of Hurricane season too. It could get ugly.
- Home Values continue to fall.
- Foreclosures are up.
- New Residential sales are down over 32% from this time last year.
Fannie-Mae has relaxed the minimum credit rating to 600, so hopefully that will help get some buyers into some of these foreclosed homes that are just sitting there. Now if only the other lenders would loosen up a little.
In Florida, this is not the time of year to have empty foreclosed homes sitting around without the Air Conditioning running. The houses start rotting from the inside out. And we are at the peak of Hurricane season too. It could get ugly.
Tuesday, August 17, 2010
The FDIC and it's deal with IndyMac and OneWest Bank
Check out this video on the deal the FDIC made with IndyMac and OneWest Bank and thier investors on buying up foreclosures and short sale mortgages. After watching this, you'll probably need a large container of Gold Bond Medicated Powder.
Friday, August 13, 2010
Monday, August 2, 2010
Interesting article on the Home Loan Credit Crunch
An interesting article on the home loan credit crunch, and why banks are denying home buyers credit.
Top Seven Reasons Banks are Denying Home Loan Requests RISMedia
Top Seven Reasons Banks are Denying Home Loan Requests RISMedia
Friday, June 18, 2010
Another Tax Credit Extension
By now I'm sure a lot of you have heard that on Wednesday the Senate voted to approve the extension of the First Time Home Buyers tax credit.
What does this do? It allows for buyers who had a purchase contract executed on or before April 30th of 2010 until September 30th to complete the purchase of the home.
Is this a good thing? Well, it's a fair decision, but maybe not a good one.
Why? Because, as a Realtor, I can tell you that on average, in this market, it takes longer than 2 months to close most real estate transactions involving a distressed property, and even some that do not involve a distressed property. So, it does allow some home buyers the advantage of of the $8k tax credit, which is fair.
On the other hand, from my perspective as a Realtor, it's just another method of propping up the economy and the housing market, instead of allowing it to regain stability and strength, organically.
By allowing this credit, it could possibly create a similar environment to develop which helped create the housing market collapse. It allows for a large number of home buyers to purchase a home with little, or in some cases, no vested interest.
Isn't that a BIG part of what started this mess in the first place?
Warmest,
James Helms
What does this do? It allows for buyers who had a purchase contract executed on or before April 30th of 2010 until September 30th to complete the purchase of the home.
Is this a good thing? Well, it's a fair decision, but maybe not a good one.
Why? Because, as a Realtor, I can tell you that on average, in this market, it takes longer than 2 months to close most real estate transactions involving a distressed property, and even some that do not involve a distressed property. So, it does allow some home buyers the advantage of of the $8k tax credit, which is fair.
On the other hand, from my perspective as a Realtor, it's just another method of propping up the economy and the housing market, instead of allowing it to regain stability and strength, organically.
By allowing this credit, it could possibly create a similar environment to develop which helped create the housing market collapse. It allows for a large number of home buyers to purchase a home with little, or in some cases, no vested interest.
Isn't that a BIG part of what started this mess in the first place?
Warmest,
James Helms
Thursday, May 27, 2010
The "Four Questions" every home seller asks.
It’s been our experience that when we sit down with a customer to begin the process of listing their home for sale, there are usually the same four questions that all home sellers ask us.
They are:
1. What is my home worth?
2. How long will it take to sell my home?
3. How much will it cost to sell my home?
4. CAN you sell my home?
The answer to those "Four Questions" really depends on YOU, the home seller. However, we do have an idea of what it takes. For OUR answer to the "Four Questions", visit us on our website by clicking here.
They are:
1. What is my home worth?
2. How long will it take to sell my home?
3. How much will it cost to sell my home?
4. CAN you sell my home?
The answer to those "Four Questions" really depends on YOU, the home seller. However, we do have an idea of what it takes. For OUR answer to the "Four Questions", visit us on our website by clicking here.
Tuesday, March 16, 2010
Palm Beach County Property Taxes are due!
I hate to be the bearer of bad news, but I don't want you guys to forget about this and incur any late fees.
Remember!
2009 Property Taxes are due on March 31st, 2010.
If you want to begin making installment payments on your 2010 Property Taxes, just go to the Palm Beach County Tax Collector’s website for information on how to do that.
Remember!
2009 Property Taxes are due on March 31st, 2010.
If you want to begin making installment payments on your 2010 Property Taxes, just go to the Palm Beach County Tax Collector’s website for information on how to do that.
Thursday, March 4, 2010
More Testing for The Acreage Cancer Cluster
I just read in the Palm Beach Post that top officials from Tallahassee are vowing more testing out in The Acreage to try to determine why there is an abnormal amount of childhood cancer out in that area. The Florida Surgeon General and the Florida Department of Health have requested help from the federal Center for Disease Control as well. Hopefully they’ll get to the bottom of what’s going on out there. Gotta protect the kids.
Wednesday, February 17, 2010
Deadline for Filing Homestead Exemption
Did you buy a home in 2009? If you did, remember to file for Homestead Exemption before March 1st. You can E-file at http://www.co.palm-beach.fl.us/papa
Monday, February 1, 2010
Top 10 Home Features Buyers Want
We would like to share with you what we, and Paul Cardis of Avid Ratings, have discovered to be the top 10 features that home buyers want.
1. Large kitchens with islands, preferably with upgraded counters such as; granite, corian, or tile, and a back-splash.
2. Green thinking such as; energy efficient appliances, solar pool heaters, super insulation, dual-zone AC, and hi-efficient windows.
3. 1st Floor Home Offices.
4. More Feng Shui oriented homes.
5. Ceiling fans.
6. 1st floor master bedroom with French doors, a Roman tub and/or an over sized shower with a seating area.
7. Screened-in outdoor living Space.
8. Stone and Brick exteriors, instead of siding and stucco.
9. Community walking paths and playgrounds.
10. Two or three car garages.
1. Large kitchens with islands, preferably with upgraded counters such as; granite, corian, or tile, and a back-splash.
2. Green thinking such as; energy efficient appliances, solar pool heaters, super insulation, dual-zone AC, and hi-efficient windows.
3. 1st Floor Home Offices.
4. More Feng Shui oriented homes.
5. Ceiling fans.
6. 1st floor master bedroom with French doors, a Roman tub and/or an over sized shower with a seating area.
7. Screened-in outdoor living Space.
8. Stone and Brick exteriors, instead of siding and stucco.
9. Community walking paths and playgrounds.
10. Two or three car garages.
Tuesday, January 5, 2010
Short Sale versus Foreclosure
Are any of you out there struggling with this decision? Is your back against the wall? As a Real Estate professional and a Certified Distressed Property Expert, I can assure you there is a big difference between the two. Allow me to give you my analogy on the two; as far as your credit goes, a short sale would be like falling of your bike and scraping your knee. A foreclosure; that would be like getting hit by a train.
Think about your decision carefully.
James
Think about your decision carefully.
James
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