information that will help you better understand mortgages
Feb
15
Welcome to the first market data report for Brevard County Real Estate of 2010. While 2009 turned out to be a good year for both the reduction in inventory, and sales of existing inventory, it also proved to be the year of lending changes, and bottoming out prices. With 2009 in the distant past, we now get our first glimpse into the new decade for 2010.
Nov
30
What if I told you that you could receive a guaranteed rate of return on your money of over 60% per year? Would that interest you at all? Of course it would; you are a rational, financially conscious human being. Well, let me give you a scenario where that is not only true, but highly likely in today’s mortgage interest rate environment:
Nov
18
Let me make a statement, and I hope you truly digest what I am about to say: the interest rates on mortgages here in Brevard County, Florida are about 1/8% off of their lowest levels in history. That means that if you qualify for a mortgage, you could potentially get a better rate on your loan than just about anyone in history. With interest rates and home prices as low as they are, people should be lining up to buy homes. However, these rates have only one way to go, and we are headed there soon.
Nov
06
First Time Homebuyer Tax Credit Extended Into 2010! Plus…A New Tax Credit for Certain Existing Home Owners! It’s official. President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009. In addition to extending …
Oct
09
Brevard County real estate sales continue to thrive. New listings are down, sales are up, and interest rates are still at historically low levels. With sales up almost 20% year over year, and inventory down about the same, it seems as though the market is moving at a fairly decent pace. So ask the question: is the market changing?
Sales continue to show strong numbers, and inventory is decreasing. With 79% of the sales bein
Sep
15
So here is the long and short of it: if you have recently experienced a short sale, you will be ineligible for a conventional loan for at least 2 years; you may be eligible for FHA financing, however, you will have to prove that there were extenuating circumstances. These extenuating circumstances could include loss of job, death of a wage earner, hospitalization, or some of these sorts. Additionally, you cannot have had any mortgage lates in the last year. For a loan to be considered prior to 2 years, it must be strong.
Aug
01
According to the Brevard County MLS, 30% of the single family residence sales, year to date, are marked as bank owned properties. I am not sure of the exact amount that are short sales, however, these are also dominating the market. While we may be reaching the bottom of the market, these transactions are not …
Jul
15
Did you know that if you have not owned property in the last 3 years that you are considered a first time homebuyer? That means that you may be eligible for the $8000 first time homebuyer credit if you purchase a home before December 1st, 2009. The program is fairly simple: ·Must be first time …
Jul
12
There is much new regulation coming down the pipe for the mortgage industry with Regulation Z changes, and RESPA changes; many of my peers are beside themselves and raving mad about the changes. In the next years many of the rules that hold professionals in the mortgage industry accountable will become stricter. This may sound …
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