Business week reported that Fannie and Freddie are trying to sell their huge backlog of foreclosed homes in an orderly way to avoid flooding the market and depressing prices. As foreclosures mount, though, analysts say the companies may be forced to reconsider that approach.
Monthly Archives: January 2011
More positives on the market
Business Week reports:
For the long-term homeowner (or patient investor), a home appears to be one of the better investments around, with minimal downside risk. “Housing is priced to earn its historic real rate of return of 0.5 percent to 1 percent and interest rates are low,” says Morris Davis, professor of real estate and urban land economics at the University of Wisconsin-Madison. “Now may be a once-in-a-lifetime time to buy.
Current Rates
Rates January 28th, 2011
Conventional 30 yr Fixed – 4.75% no pointsConventional 15 yr Fixed – 4.125% no points
Conventional 5/1 arm- 3.125% no pointsJumbo 5/1yr arm – 4.25%
FHA 96.5%- 4.625% – 30 year fixed VA 100%- 4.625% – 30 year fixed
All conventional loan rates are based on a middle credit score of 740 or higher and a loan amount of $150k or higher on a primary residence purchase. Max loan to value on all conventional loans is 95% due to mortgage insurance guidelines. (debt to income ratio is limited for mortgage insurance above 90% loan to value) All rates based on purchase money mortgages for primary residences. Rates are subject to change based on market conditions and are intended to be used as a guide only. For APR and up to the minute rates, please call for a rate quote.
For more information on our loan programs or to make an application, please contact:
Tyler Oden
tyler.oden@suntrust.com
www.tyleroden.comOffice: 850 425-6716
Fax: 850 425-6730
Mobile: 850 294-6626
Google is getting out of the Real Estate Search Business
I’ve always liked the Google Real Estate Search feature.
Google says its not generating enough traffic so they are taking it down.
This leaves more room in cyber search world for Realtor.com and Homes.com
Read more here:
http://searchengineland.com/google-will-drop-real-estate-search-listings-from-maps-62496
I do hope they continue to link in Google Maps. Right now if you search an address on Google Maps Google displays a link to the listing.
Obama’s new tax on real estate sales??
Some wrong info is circulating the net.
Twice today I’ve recived and email saying that every new home sale in 2012 will be taxtd an additional 3.8%
Its a rumor based on a little fact.
From FactCheck.org:
Q:
Does the new health care law impose a 3.8 percent tax on profits from selling your home?
A:
No, with very few exceptions. The first $250,000 in profit from the sale of a personal residence won’t be taxed, or the first $500,000 in the case of a married couple. The tax falls on relatively few — those with high incomes from other sources.
You can read more here:
http://www.factcheck.org/2010/04/a-38-percent-sales-tax-on-your-home/
or
Current Interest Rates Still Under 5%
Rates January 19th, 2010
Conventional 30 yr Fixed – 4.75% .25 point
Conventional 15 yr Fixed – 4.125 no points Conventional 5/1 arm- 3.25% no points
Jumbo 5/1yr arm – 4.25% no points FHA 96.5%- 4.625% – 30 year fixed
VA 100%- 4.625% – 30 year fixed
All conventional loan rates are based on a middle credit score of 740
or higher and a loan amount of $150k or higher on a primary residence
purchase. Max loan to value on all conventional loans is 95% due to
mortgage insurance guidelines. (debt to income ratio is limited for
mortgage insurance above 90% loan to value) All rates based on
purchase money mortgages for primary residences.
Rates are subject to change based on market conditions and are
intended to be used as a guide only. For APR and up to the minute
rates, please call for a rate quote.
For more information on our loan programs or to make an application,
please contact:
Tyler Oden
Tyler.oden@suntrust.com
www.tyleroden.com
Office: 850 425-6716
Fax: 850 425-6730
Mobile: 850 294-6626
January Rates
-
Rates January 3rd , 2011
Conventional 30 yr Fixed – 4.75% no points
Conventional 15 yr Fixed – 4.25% no points
Conventional 5/1 arm– 3.375% no points
Jumbo 5/1yr arm – 4.25%
FHA 96.5%- 4.625% – 30 year fixed
VA 100%- 4.625% – 30 year fixed
All conventional loan rates are based on a middle credit score of 740 or higher and a loan amount of $150k or higher on a primary residence purchase. Max loan to value on all conventional loans is 95% due to mortgage insurance guidelines. (debt to income ratio is limited for mortgage insurance above 90% loan to value) All rates based on purchase money mortgages for primary residences.
Rates are subject to change based on market conditions and are intended to be used as a guide only. For APR and up to the minute rates, please call for a rate quote.
For more information on our loan programs or to make an application, please contact:
Tyler Oden
Office: 850 425-6716
Fax: 850 425-6730
Mobile: 850 294-6626
Bevis Realty - Tallahassee Florida 