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Darrell Walters

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Now is the Time to Buy

09-09-09
Darrell Walters

It's staggering when you think about the cost of living, especially if you're a renter and not a home owner. If you are currently paying $1,000 a month for rented housing, over the next three years your property management company will effectively have reaped $36,000 of your hard earned cash. In most cases, you know your rent will go up every year, even if you live in an area that has rent control regulations. You're paying the mortgage for the property owner, when you could be building equity in your own real estate investment.


The tax credits will not last long. The government is offering up to an $8,000 tax credit for first time home buyers through December 1, 2009 and Georgia is offering an $1,800 tax credit through November 30, 2009. Also, the tax deductions available to homeowners vary, but there are solid rules the IRS lines out for us. Real estate taxes, mortgage interest, pre-paid interest, and interest on construction loans are all things to take into consideration as tax benefits.

If you or someone you know is currently renting, I urge you to email or call me at 678-648-5626 to discuss the many low- and no-down payment loan programs that are currently available to prospective home buyers. My team and I work cohesively with the borrower's financial consultant to ensure the client's long-term goals are met.

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June 4th Bankrate.com Mortgage Trend Index

06-04-09
Darrell Walters

The latest Bankrate.com Mortgage Trend Index is available with the experts predicting that rates will move up. As a reminder, this mortgage trend index is for conventional rates only and does not include Jumbo, FHA, or VA mortgage rates.

Here are the predictions for mortgage rates in the next 30 days:

· 42% predict mortgage rates will increase
· 33% predict mortgage rates will decrease
· 25% predict mortgage rates will remain unchanged

Greg McBride, CFA, senior financial analyst Bankrate.com states, "While the Fed is likely to accelerate or increase their mortgage-bond and Treasury purchases, the announcement may not come until the June FOMC meeting three weeks away." Although rates change frequently, I would expect rates to remain above 5.00% until the meeting of the Federal Open Market Committee on June 23-24.

Email or call me at 678-648-5626 for your free mortgage consultation and information regarding current mortgage rates.

Image source: Bankrate.com

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Pending Home Sales Jump in April

06-03-09
Darrell Walters
The National Association of Realtors released the Pending Home Sales Index with homes under contract moving up nearly 7 percent. It was the single biggest monthly increase since 2001 and it was the third consecutive month that the report showed a gain. The report is an imperfect measurement because it takes into account homes that are under contract but have not closed. Some estimates suggest that only 80% of homes under contract actually close. In this Bloomberg News piece, NAR Chief Economist Lawrence Yun points out a few keys for the increase: 1. The $8,000 first time home buyer tax credit 2. Historically low mortgage rates 3. Lower home prices nationwide 4. Consumer confidence is up sharply With homes more affordable nationwide, we should continue to see a seasonal increase. For more information regarding financing your home purchase, or refinancing with today’s historically low rates email me or call 678-648-5626.
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Good News - Existing Home Sales Increase!

06-01-09
Darrell Walters

Visit msnbc.com for Breaking News, World News, and News about the Economy

In this “Squawk on the Street” report, CNBC reports on the latest news from the National Association of Realtors. The report included the Existing Home Sales Report. Existing home sales rose 2.9 percent in April indicating that the housing market is again showing signs of improvement. Annual home sales outpaced the anticipated 4.66 million homes and home sales were up in the majority of the reported regions. Even as prices decline, sales including condos are up. Condo sales increased 6.4 percent. Lawrence Yun, National Association of Realtors chief economist, stated, “Most of the sales are taking place in lower price ranges and activity is beginning to pick-up in the mid-price ranges, but high-end home sales remain sluggish.” The good news for many home owners is that, depending on the local housing market, as sales continue to increase home prices should follow.
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May 21st Bankrate.com Mortgage Trend Index

05-21-09
Darrell Walters

The May 21st Bankrate.com Mortgage Trend Index has been released the analysts saying that we'll see more of the same where rates are concerned.

Here are the predictions for mortgage rates in the next 30 days:

· 38% predict mortgage rates will increase
· 07% predict mortgage rates will decrease
· 55% predict mortgage rates will remain unchanged

Greg McBride, CFA, senior financial analyst Bankrate.com states, "A weak economy balances out concerns about government debt issuance, keeping mortgage rates in check."
Even as the government announced a weaker Retail Sales Report and the Fed's announcement to purchase additional debt, mortgage rates are remaining relatively stable. increase.

Remember this mortgage trend index is for conforming rates only and does not include Jumbo, FHA, or VA mortgage rates. For your free mortgage consultation and information regarding current mortgage rates email me or call 678.648.5626.

Image Source: Bankrate.com

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