|Posted by John Becker / Bald Head on August 1, 2010 at 10:42 PM|
Results of Bankrate.com's July 28, 2010 weekly national survey of large lenders and the effect on monthly payments for a $165,000 loan:
|30-year fixed||15-year fixed||5-year ARM|
|This week's rate:||4.71%||4.17%||4.07%|
|Change from last week:||-0.03||-0.01||+0.01|
|Change from last week:||-$2.98||-$0.83|
Five overlooked reasons why now is a great time to buy a home.
1. Low mortgage rates serve as an equity shock absorber. When buyers borrow at today's record-low rates, they start building equity as soon as they close. That means they have a little give to absorb a few ups and downs as the still-recovering housing market gains traction.
2. Houses are in move-in condition. Homeowners have continued to spend on maintenance and repair, according to the Harvard Joint Center on Housing. Homeowners who have been holding back, kept their houses in good shape while they waited. As those houses enter the market, they are in marked contrast to tattered foreclosures.
3. Terrific houses are coming on the market. Foreclosures are finally starting to clear the system—and this is just the opportunity that owners of many desirable properties have been waiting for.
4. Appraisal regulations are finally aligned with market realities. Fannie Mae has adjusted its appraisal guidelines, giving appraisers more flexibility to set values that reflect the current market. This ensures that today's deals will make it over the finish line.
5. Plenty of programs. Homes are more affordable than they have been for years, but communities have stuck by "workforce housing" programs that encourage middle-class families to buy houses. Buyers who qualify can get a big boost by combining one of these programs with today's low mortgage rates.
People of Atlanta, Miami, Fort Lauderdale, Fort Myers, and any other big city in the USA.. Are you STRESSED from being in the over crowded, big city "Pressure Cooker"? I HAVE THE ANSWER!! GO HERE
By Dorothy - Jul 9, 2010
We originally contacted John because he had the best website of anyone. He maintains the site & it is current!! John is absolutley the hardest working realtor we've ever met. He always answers his phone & does everything he says he's going to do. We are now the proud owners of a log cabin & 3 acres of the most beautiful land in Franklin, NC. His sense of humor makes him a pleasure to work with! - Bill & Dorothy Fry
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