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Market Movoment - An up-to-the-minute communication for the Weichert sales team

Two encouraging bits of real estate news brightened my morning today.

First, pending home sales, based on contracts signed in August, jumped unexpectedly to the highest level since June 2007. According to Lawrence Yun, chief economist for the National Association of Realtors, this improvement was a result of improved affordability and lower interest rates.

In addition, the Mortgage Bankers Association reported that mortgage applications increased 2.2 percent last week due to lower home loan rates.

More pending home sales and loan applications mean more closed business. Paired with the expectation of freer credit moving forward and the $7,500 buyer tax credit, this is all promising news for the real estate industry.

"It pays to ask" and it also pays to tell. Pick up the phone and share this news with your prospects and clients. Let them know that now is the time to buy.

Let's move this market, 

 

The sky in NOT FALLING!

Credit Update!

 

Do not believe everything you hear on the NEWS! You are witnessing a POLITICAL tug of war right now.

 

I have had several of my business partners (Agents) call and ask me if it is getting harder to lend money…here is the bottom-line, you can pass this information off to your clients & prospects if you wish.

 

 

FHA is financing 97% of the purchase price. SunTrust is STILL financing 95% second home. The Mortgage Insurance companies have put higher credit score requirements in place, but the biggest challenge would be on 2nd home and investor properties with most of what I have been seeing for second homes credit scores being over 680…NO PROBLEM… otherwise we FHA for lower scores on primary home, and get a better rate anyway.

 

THE SKY IS NOT FALLING!

 

  • USDA & VA is lending 100%. For information on Rural Development, feel free to call me. You will be surprised to know how much of our area qualifies for that product.

 

  • Fannie & Freddie…Like I said, we still do 95% financing on both Primary & Second home

 

  • Jumbo Money…Still available and strong.

 

I saw a report the other day that showed that the national sale price had only dropped 2.2% over the last couple months. (CNBC) That is great news, and shows a potential bottom.

courtesy of ed bucchino

Homes Available at the Villages of Arrowhead

The Villages of Arrowhead offers one of the best lifestyles in any Myrtle Beach community. Situated along three of the top golf courses in Myrtle Beach, the amenities offered by this neighborhood are extraordinary. Conveniently located off of Highway 501, The Villages of Arrowhead is in the center of Myrtle Beach, just a short distance from everything the area has to offer.

 
The following homes are just a few samples of what you can find in this beautiful golf course community.
 
Property 1 of 38
Arrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estate
 
MLS Number: 809438
Listing Price: $155,000
Town: Myrtle Beach SC 29579
Section / Subdivision: Arrowhead
Br / Ba: 3 / 2 (1 Half Baths)
For detailed information Click Here
Property 2 of 38
Arrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estate
 
MLS Number: 807202
Listing Price: $189,800
Town: MYRTLE BEACH SC 29579
Section / Subdivision: Arrowhead
Br / Ba: 3 / 2 (1 Half Baths)
For detailed information Click Here
Property 3 of 38
Arrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estate
 
MLS Number: 808342
Listing Price: $189,900
Town: MYRTLE BEACH SC 29579
Section / Subdivision: Arrowhead
Br / Ba: 3 / 2
For detailed information Click Here
Property 4 of 38
Arrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estate
 
MLS Number: 815872
Listing Price: $189,900
Town: Myrtle Beach SC 29579
Section / Subdivision: Arrowhead
Br / Ba: 3 / 2
For detailed information Click Here
Property 5 of 38
Arrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estate
 
MLS Number: 805581
Listing Price: $195,000
Town: Myrtle Beach SC 29579
Section / Subdivision: Arrowhead
Br / Ba: 3 / 3
For detailed information Click Here
Property 6 of 38
Arrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estate
 
MLS Number: 816837
Listing Price: $195,000
Town: Myrtle Beach SC 29579
Section / Subdivision: Arrowhead
Br / Ba: 4 / 2
For detailed information Click Here
Property 7 of 38
Arrowhead real estateArrowhead real estateArrowhead real estateArrowhead real estate
 
MLS Number: 813084
Listing Price: $198,900
Town: Myrtle Beach SC 29579
Section / Subdivision: Arrowhead
Br / Ba: 4 / 3
For detailed information Click Here
Property 8 of 38
Arrowhead real estateArrowhead real estateArrowhead real estate
 
MLS Number: 816299
Listing Price: $199,500
Town: MYRTLE BEACH SC 29579
Section / Subdivision: Arrowhead
Br / Ba: 3 / 2
For detailed information Click Here
Property 9 of 38
Arrowhead real estateArrowhead real estate
 
MLS Number: 734619
Listing Price: $200,000
Town: Myrtle Beach SC 29579
Section / Subdivision: Arrowhead
Br / Ba: 4 / 3 (1 Half Baths)
For detailed information Click Here
Property 10 of 38
Arrowhead real estate
 
MLS Number: 729058
Listing Price: $210,000
Town: Myrtle Beach SC 29579
Section / Subdivision: Arrowhead
Br / Ba: 3 / 2
For detailed information Click Here
 

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