Monthly Archives: May 2011

Mortgage Rates Tick Up Slightly

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Rates May 19th, 2011 Conventional 30 yr Fixed  –  4.75% no points
Conventional 15 yr Fixed  –  3.875% no points
Conventional 5/1 arm- 3.375% no points
Jumbo 5/1yr arm  – 4.125%
FHA 96.5%- 4.375%  – 30 year fixed
VA 100%- 4.5% – 30 year fixed

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 

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.

Robot Zombie Appraisers

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You have probably heard about RoboSigners in the news….the 

foreclosure mills that had people signing hundreds of foreclosure
papers every day.

Well now Robo-Appraisers have come home to roost….
Automated Values (AVs) or E-Appraisals were all the rage at the height
of the market.
An AV is a statical model value like Zillow only supposedly more sophisticated.
If your house met Electronic Values for a loan you didn’t have to get
an appraisal.
Banks loved them… Why pay a person to appraise the house when a
computer can do it!
But that meant no one really looked at the house with a critical
eye… They have the same issues as Zillow’s Zestimate.
Who knows if the subject property has a new roof or is it falling
down, is it a new house or eaten by termites, is it on a golf course
or does it back to a main road, are the kitchen counters stone or
Formica? There is just no way a computer can know information that is
not in a data base.
No surprise that they were ripe for fraud.

Now the FDIC has filed suit against two companies that managed AV
units… Core Logic and Lender Processing Services.
Funny that they were allowing these loans- even encouraging them when
the market was going up every week.
Now they want someone else to be accountable….. Read more here:
http://agentgenius.com/real-estate-news-events/fdic-suing-corelogics-eapprais…

Barry Bevis, Broker/Realtor
C-850-491-3600
F-877-870-9066
www.BevisRealty.com

FYI- If you like the Zombie Business Man, you can buy the Tshirt here:

http://www.threadless.com/product/141/Corporate_Zombie?streetteam=boyBacon

Rates are staying low!,, Fha back down to 4.25%

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Rates May 11th, 2010 Conventional 30 yr Fixed  –  4.625% no points
Conventional 15 yr Fixed  –  3.75% no points
Conventional 5/1 arm- 3.125% no points
Jumbo 5/1yr arm  – 4.125%  with one point
FHA 96.5%- 4.25%  – 30 year fixed  no points
VA 100%- 4.25% – 30 year fixed no points

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 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.

Are you looking at Bank Owned properties or Short Sales that need repairs?

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Suntrust is offering two types of loans to help you purchase that home
and have the money to fix it up!

Purchase Renovation Loan:  allows for major renovations, additions and
improvements after the closing through a construction/purchase  loan.
(80% loan to value)

Home Fix Loan — allows for Livability items to be repaired:  carpet,
cabinets, appliances, roof, siding, etc. after the closing.    (90%
loan to value) See the two flyers below or  Call Tyler for details! 

Tyler Oden, SunTrust Mortgage, Loan Officer
P 850-425-6716 
C 850-294-6626 

215 South Monroe Street, Tallahassee,  FL   32301 

Apply on line at www.tyleroden.com

homefix_flyer (1).pdf
Download this file

Purchase Renovation Loan.pdf
Download this file

Mixed news

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The two major government backed lenders had very mixed reports at the
end of the first quarter. Freddie Mac says it turned a $676 Million dollar profit this quarter-
the first profits in 3.5 years.
Its probably best to take the Freddie Mac Profit as break even- that
is positive news.
http://goo.gl/JTMVv

But Fannie Mae lost $8.7 Billion dollars and is looking for additional
aid from the Federal government.
http://goo.gl/5h4Bh The cleanup of the bubble burst is still in process with additional
short sales and bank owned properties hitting the market.

Barry Bevis, Broker/Realtor
C-850-491-3600 
F-877-870-9066 
www.BevisRealty.com

Mortgage Rates are the Lowest rates since January :)

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Rates May 6th, 2011 

Conventional 30 yr Fixed  –  4.625% no points

Conventional 15 yr Fixed  –  3.875% no points Conventional 5/1 arm- 3.25% no points

Jumbo 5/1yr arm  – 3.99%  one point FHA 96.5%- 4.375%  – 30 year fixed

VA 100%- 4.375% – 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

Craigslist Scam Warning…

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This week I listed 2038 Florida Avenue for sale. 

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Yesterday I got a call from someone asking if it was for sale or rent.
At first it sounded normal- Frequently people call asking if a seller
would consider renting their property
Then they told me the owner was asking them to transfer a rental
deposit into their account….

They directed me to a Craigslist post advertising it for rent.
I checked with the seller and confirmed it is not them

The link to the Craigs list post is
http://tallahassee.craigslist.org/apa/2364087659.html
That the right house and address…just fake info.

The scammer grabbed the address and photos off the internet-
potentially my website.
I’m guessing they looked up the owners name on the property appraisers
website and got a Yahoo email address that  looks like his name.
The owners name is Mike Houghton… thus the Michaelhoughton@yahoo.com
email – not really the owners email address.
Now the scammer  is trying to get people to transfer deposit money
into his bank account. I wonder how often this occurs without the agent or owner ever knowing…

Just for fun I replied to the email asking about the rental and got a
very detailed friendly email back from the Scammer. I’ve reported it to Craigs list as a scam but its still up on their site.
And contacted the local police department- curious what they will do.

If your looking to rent in Tallahassee be sure to read this post

https://bevisrealty.wordpress.com/2011/03/16/rentals-in-tallahassee/

Barry Bevis, Broker/Realtor
C-850-491-3600
F-877-870-9066
www.BevisRealty.com