When selling a home in our current market, the most important tip to remember is to have the right selling price. The Wall Street Journal also has a few additional pricing tips and techniques to help sell a home quickly.
The tips included:
These tips will help improve your odds in finding a buyer and if you need a referral for a successful Realtor in your area, email dwalters@integritymtgonline.com. I would be glad to provide one for you.
May Peace be your gift at Christmas and your blessing all through the year.
Merry Christmas from Darrell Walters and Integrity Mortgage Funding.
http://www.integritymtgonline.com/
dwalters@integritymtgonline.com
Office: 678.648.5626
Most, but not every, home owner can increase their 2008 tax deductions with an extra mortgage payment made during the 2008 calendar year.
In order to receive the additional tax deduction the home owner would need to make the January 2009 payment before December 31, 2008. The reason this is important is because interest on the mortgage is paid in arrears, meaning that your January 1, 2009 payment includes interest accumulated from December.
For more information consult your tax professional as not all homebuyers qualify for these tax deductions. If you do not have a tax professional, contact me and I will gladly provided a referral.
![[gasbuddy+december+gas+price.bmp]](http://3.bp.blogspot.com/_Kl17wW95JI4/SUvRMAwtEPI/AAAAAAAAAKc/YpmsK561_ew/s1600/gasbuddy%2Bdecember%2Bgas%2Bprice.bmp)
The price for gas has fallen to a national average of $1.67. This decline at the pump is less than half of what gas cost in July.
As prices have declined nationally, what does that do for real estate? People tend to spend more when they view themselves as being worth more, also know as the Wealth Effect. This increase in wealth should lead to higher levels of consumer spending, which is why consumer confidence rose in November.
This is important to the real estate market because as people view themselves as wealthier and gain more confidence in the economy, major purchasing such as homes will increase. Also helping the market are mortgage rates at 3 year lows.
Image source: GasBuddy.com
On December 16th, The Federal Open Market Committee voted to lower the Fed Funds Rate to the lowest level in history. The rate is now set at a range of between 0 and ¼ percent.
According to the press release, the FOMC acknowledged that labor markets have declined, consumer spending is down, and business investment has fallen.
With an overall view, economic activity has weakened further, but the Fed intends to use the rate cut and "all available tools" including the kitchen sink to promote economic growth. This could include the acquisition of billions of additional purchases in mortgage-backed securities.
Included in the report was the opinion that inflation was a diminishing threat. However, that view could change dramatically when the economy improves. Once that happens it will be bad news for mortgage rates.
Source:
The Wall Street Journal
Parsing the Fed Statement
December 16, 2008
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