As you may or may not know the Federal Reserve has announced an $800 Billion dollar plan to jump start lending! Specifically to purchase $500 billion in mortgage backed securities --- but what does this really mean to your borrowers ---- well take a look at today’s rates!!!! We have a great formula for success LOW RATES + LOW PRICES + TAX CREDIT = GREAT REASONS TO BUY!!!
The Federal Reserve, the nation's central bank, announced it will purchase up to $500 billion in mortgage backed securities that have been backed by Fannie Mae (FNM, Fortune 500), Freddie Mac (FRE, Fortune 500) and Ginnie Mae, the three government-sponsored mortgage finance firms set up to promote home ownership. It will also buy another $100 billion in direct debt issued by those firms.
"This action is being taken to reduce the cost and increase the availability of credit for the purchase of houses, which in turn should support housing markets and foster improved conditions in financial markets more generally," said the statement from the Fed.
CNNMoney.com
Entire Article Can Be Read Here
http://money.cnn.com/2008/11/25/news/economy/paulson_consumer/?postversion=2008112512
Tuesday, November 25, 2008
Wednesday, November 12, 2008
How can we keep the economy in Dallas strong?
I have talked to a lot of homeowners the last couple of weeks in the Dallas suburbs, and they all seem to think they cannot sell their homes right now. This is incorrect. There are a lot of homes on the market, no doubt, but 90% or more are foreclosures or short sales.
When a buyer makes an offer on a short sale or foreclosure, they sometimes have to wait 30, 60, even 90 days for a response to their offer. There are more buyers that would rather move in 30 days than wait around for a bank to tell them if they can even make the purchase work.
It is frustrating for all parties involved. Be aware that the Dallas real estate market needs more listings that are straight sales to avoid the long wait for closing. This is the time that many employees relocate, and many are coming to the Dallas area. If you want to sell you home, now is the time. Inventory is down for these homes, and if you are moving up, it could not be a better time to buy and trade in your equity for your dream home.
Ask me about our 39 Day or It's Free Guarantee, and go buy something!
When a buyer makes an offer on a short sale or foreclosure, they sometimes have to wait 30, 60, even 90 days for a response to their offer. There are more buyers that would rather move in 30 days than wait around for a bank to tell them if they can even make the purchase work.
It is frustrating for all parties involved. Be aware that the Dallas real estate market needs more listings that are straight sales to avoid the long wait for closing. This is the time that many employees relocate, and many are coming to the Dallas area. If you want to sell you home, now is the time. Inventory is down for these homes, and if you are moving up, it could not be a better time to buy and trade in your equity for your dream home.
Ask me about our 39 Day or It's Free Guarantee, and go buy something!
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