Thursday, February 28, 2008
Federal Housing Administration or FHA loans are great loans for a refinance or purchase. You can refinance up to 95% of the value of your home and pull cash out for any reason. Usually FHA loans are a fixed 30 year rate. They never have pre-payment penalties. For a purchase you can finance up to 97% of the purchase price. Credit scores are not a big factor in getting approved for FHA loans. Other factors like job time, savings, and payment history carry greater weight. Call me today to see if you qualify. 414-416-9194
Wednesday, February 20, 2008
Tuesday, February 19, 2008
A realtor can put your interest first when buying a home if you sign a buyer agency contract with that realtor. You are not paying the realtor to represent you in most cases, the seller is paying. This can be a huge advantage for you in getting a lower price and also if any issues arise during a home inspection. Ask your realtor about buyer agency.
Friday, February 15, 2008
The median sales price of a home sold through the multiple listing service increased in the state year over year by .02%, according to the Wisconsin Realtor Association. Although appreciation has slowed there is appreciation in the state unlike other markets like California and Arizona. The average Wisconsin homeowners lives in their home for 7 years, the association said. The median sales price here was $164,000.
The prime rate is currently 6%. This is the rate at which banks lend money to their best customers. It is a benchmark used for setting various consumer loans, like credit cards, auto loans and home equity lines of credit. It is not a rate related to the rate of a first mortgage. The prime rate has dropped recently and a possible trend is that it will continue to drop. A key savings rate has also dropped. In other words money market acounts at banks or credit union and certificate of deposit rates have also decreased. Finding money market rates over 4.0% is nearly impossible now. CD rates over 3.5% are rare unless you want to tie up your money for 5 years. Real estate remains a great investment if you buy right and hold for the long term.
Wednesday, February 13, 2008
There has been a lot of talk about credit, mortgages and the economy lately. Do you think the economy is good or bad now? Is your business increasing or slowing down? Do you plan on receiving a tax rebate check in May? Do you think the tax rebate plan is a good idea? Do you know what the tax rebate plan is? If you receive a check will you spend it or save it?
Tuesday, February 12, 2008
Project Lifeline debuted today - a federal government program designed to stall or stop the foreclosure process - for homeowners behind on their mortgage payments. Six of the nations largest lenders are contacting customers who are behind 90 days on their mortgage and trying to modify or work out payment agreements with them to stall or stop the foreclosure.
Monday, February 11, 2008
Thursday, February 7, 2008
Wednesday, February 6, 2008
A major winter storm slammed the state Wednesday causing near white-out conditions over most of southeastern Wisconsin. Schools shut down, offices closed and few drivers braved the roads. Skiers, snowboarders, and those who sled and snowshoe enjoyed the sticky snow storm.