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Posted At : October 9, 2008 10:34 AM | Posted By : Weichert Realtors
Related Categories:
Covington Lake subdivision, Grand Strand area, North Carolina, Carolina Forest real estate, Myrtle Beach South Carolina real estate, WEICHERT, REALTORS, Litchfield Plantation, July 4th, North Myrtle Beach oceanfront real estate, Lakes of Lockwood, Myrtle Beach condos, Myrtle Beach real estate, Arrowhead, protect your real estate, Myrtle Beach SC, Inflation, Interest and Mortgage Rates, Mortgage, South Carolina, Hunters Ridge, real estate in Myrtle Beach, Seaside Plantation, Pawleys Plantation, Loris
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:
Carolina Forest real estate, Grand Strand area, North Carolina, Myrtle Beach SC, WEICHERT, REALTORS, Litchfield Plantation, Myrtle Beach condos, July 4th, North Myrtle Beach oceanfront real estate, Myrtle Beach South Carolina real estate, Covington Lake subdivision, Myrtle Beach real estate, protect your real estate, South Carolina, Inflation, Interest and Mortgage Rates, Mortgage, Arrowhead, Hunters Ridge, Lakes of Lockwood, real estate in Myrtle Beach, Seaside Plantation, Pawleys Plantation, Loris
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
An open house is a great way to attract more buyers. It will notify the neighbors and those passing-by that your home is on the market. Here are some tips for when you plan your open house:
- Clean the yard and plant some flowers
- Clean up any junk or clutter inside and put some flowers around
- Turn on all of the lights for appeal
- Clean and clear the counters of the bathroom and kitchen, makes it look like there is more space
- Put away family photos and personalized pieces of art; you want the buyer to see it as a model home
- Set the table, put out the decorative towels, make the beds, etc.
- Bake some cookies or a cake. If you dont have time put some water, brown sugar, cinnamon and vanilla in a dish and bake it. This will provide a wonderful aroma throughout the house.
Southern Coast specializes in North Myrtle Beach oceanfront real estate, Myrtle Beach condos, Myrtle Beach vacation houses, and Myrtle Beach investments real estate.
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