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Posted At : October 9, 2008 10:34 AM
| Posted By : Weichert Realtors
Related Categories:
South Carolina, Pawleys Plantation, Hunters Ridge, Arrowhead, North Carolina, Covington Lake subdivision, Lakes of Lockwood, Grand Strand area, Seaside Plantation, July 4th, real estate in Myrtle Beach, Inflation, Interest and Mortgage Rates, Myrtle Beach South Carolina real estate, WEICHERT, REALTORS, North Myrtle Beach oceanfront real estate, Carolina Forest real estate, Litchfield Plantation, protect your real estate, Loris, Mortgage, Myrtle Beach SC, Myrtle Beach real estate, Myrtle Beach condos
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,
Posted At : October 2, 2008 9:37 AM
| Posted By : Weichert Realtors
Related Categories:
South Carolina, Pawleys Plantation, Hunters Ridge, Arrowhead, North Carolina, Covington Lake subdivision, Lakes of Lockwood, Grand Strand area, Seaside Plantation, July 4th, real estate in Myrtle Beach, Inflation, Interest and Mortgage Rates, Myrtle Beach South Carolina real estate, WEICHERT, REALTORS, North Myrtle Beach oceanfront real estate, Carolina Forest real estate, Litchfield Plantation, protect your real estate, Loris, Mortgage, Myrtle Beach SC, Myrtle Beach real estate, Myrtle Beach condos
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
Posted At : June 30, 2008 6:01 PM
| Posted By : The Weichert Team
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July 4th
Celerate our independence with Myrtle Beach this July 4th. There will be fun for the whole family. What better way to spend your July 4th than with a Myrtle Beach vacation. Broadway on the Beach will start the celebrations early with some fireworks tomorrow night, July 1st, at 10pm. Other events there tomorrow include a character parade beginning at 7pm and Gabbie Rae as "Hannah Montana" at 8. The Myrtle Beach chamber of commerce will hold the 16th Annual July 4th Fireworks display Friday night. This event is free to the public and will be held in the Cherry Grove section of North Myrtle Beach. Watch the display from the Cherry Grove fishing pier at 3500 North Ocean Blvd. beginning at 9:30pm. Broadway on the Beach will hold the Carolina Freestyle Cloggers at 7:30pm, a free concert with "The Tams" from 6-10pm, and fireworks at 10pm Friday night as well.
Contact Southern Coast, we are a North Myrtle Beach Realtor, and ask about Myrtle Beach vacation houses for July 4th or about the weekend's festivities.
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