Bradenton Florida Real Estate News

Wednesday, September 19, 2007

What does the Feds rate cut mean?

On Tuesday the Feds lowered the Federal Funds rate by half a point. What does it mean?

For Consumers: (who are not buying or selling right now.)

  • Now may be a good time to refinance.

  • ARM (Adjustable Rate Mortgages) rates may become somewhat lower.

  • Home equity credit lines will drop a half point at beginning of next month.

For Buyers:

  • Now is an excellent time to buy.
  • There are deals to be had.
  • Interest rates are good (but don’t expect them to drop significantly overnight because of the Fed Cut - though some loan products did drop a 1/4 point Tuesday.)

For Sellers:

  • The market for Sellers is not out of the woods yet.
  • Real estate prices continue their gradual decline.
  • Inventory remains a concern (it could take more than 2 years to sell what’s on the market now).
  • Sell now and take advantage of being a Buyer on what you buy next.
  • Holding out for a price that doesn’t exist will cost you more in the long run.

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Wednesday, September 12, 2007

Stop Foreclosure With a Short Sale

If you or someone you know is facing foreclosure we can help. Lenders are ready to accept short sales rather than taking a home back in foreclosure.

A short sale occurs when a lender is willing to accept less than what is actually owed on the mortgage. Why would they do this? A 2002 study revealed that the average foreclosure costs a lender over $58,000. They would rather accept a short-pay on the mortgage.

Put our experience to work for you and save your credit! Call today.

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