We all know the $8K federal tax credit has helped move some houses but are you seeing other buyers (non first timers) buying? The past 3+ months house prices have been on the upswing, home sales are increasing and it appears that houses are moving much quicker ( at least around here).
I have been buying foreclosed homes, doing a total renovation and selling them for the past 2 years and I am seeing houses move much quicker than say 10-12 months ago. I have my hand on the pulse daily since I am always looking for a deal.
It appears the inventory is smaller and sales are faster which is a very good thing for all of us.
Are you seeing houses move quicker in your market?
The U.S. Senate worked on working out a vote on Tuesday to extend a popular tax break for home buyers that has helped lift the housing market out of its worst slump since the Great Depression,
At day's end there were a few different idea's/plans on the table. "We're close to being able to finish things up," Johnny Isakson, R-Ga., the leading Senate advocate of the home buying credit, said early Tuesday afternoon. "I think we've got a good solution."
This is great news for the housing market which has been on an upswing the past few months.
Those of you who missed the boat may have an opportunity to still take advantage of a Federal Tax Credit if the U.S. Senate could come to an agreement.
Stay tuned in for updates as they become available.
Apply now for a Free Mortgage Pre-Approval www.LeoLends.com
Leo Namiot
Connecticut First Time Home Buyer Mortgage Specialist
CT FHA Loans
CT VA Loans
CT CHFA Loans
Just a reminder to all first time home shoppers. The $8,000.00 tax credit expires November 30th, 2009. Your loan must close on or before 11/30/2009 to take advantage of this historic offer. Keep in mind a typical closing is 30-45 days which means you should have your sales and purchase contract and application ready to submit by October 15th or sooner. Keep in mind that there will be a mad dash of people trying to close before the deadline which may extend the closing process time so the earlier you are ready to apply the better. Don't be one of the first time home buyers who missed the boat and could not close in time.
Get A Free Pre-Approval - Apply now http://www.LeoLends.com or call 1-866-334-5626 Toll Free In CT
Leo Namiot
Connecticut Mortgage Specialist
Find me@ www.BiZZwax.com
CT First Time Home Buyers - you may qualify for up to 100% financing plus closing costs! Now is a great time to buy a home while interest rates are still near all time lows and home prices are still down compared to recent years past.
Find out how much you can can afford with a No Obligation Free Mortgage Pre-Approval today, apply online @ www.LeoLends.com or call me directly toll free in CT 1-800-613-6619.
Leo Namiot
Senior Mortgage Consultant
YES, YES, YES!
Here in Connecticut Mortgage Rates are in the 4's right now and you can save thousands of dollars by taking advantage of these low rates now before they start to move upward. Even if you just bought a home or even refinanced a few months ago, this still may be a great time to refinance.
Let's take a look at a $200,000.00 mortgage @ 5.5 a vs the same $200,000.00 mortgage at 4.75%
If you have a $200,000 mortgage with a rate of 5.5% you pay $1,135.58 a month in Principle and Interest and If I refinance that with a rate of 4.75% you save $92.29 a month(this does not seem like a lot of money but), take that $92.29 month and now apply towards principle and you shaved NEARLY 5 YEARS OFF YOUR MORTGAGES! and SAVES OVER $64,000.00!!! - Let's look at your mortgage you currently have and see what we can do!
It costs you nothing to find out what you may save, Contact me directly for a no obligation mortgage consultation. 860-482-7674 or leolends@yahoo.com
Leo Namiot - Senior Mortgage Banker
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