In the last Fed Meeting, rate improved a little each day. They indicated that monetary policy would remain on hold for quite a while. But acknowledged it eventually has to raise the fed funds rate, a clear message that rate hikes are long way off. Majority of fed officials feel that the economy is still too fragile and the labor market is too weak to begin to raise rates.
How social are you? How serious are you about social media?
You can't ignore it. Hundreds of millions of people are involved so far, and it's just a few years old. That's two of the values in social media - it's immediate and it's informative. It's also fun - that's why Facebook and YouTube are worth BILLIONS
I have made a serious commitment to "socialize." To expose more of my personal self, and my business self, through social media. I will still maintain my value-based philosophy, but I will personalize it, and humanize it to a point that others are attracted to it, benefit from it, and want to pass it on to others.
So, what does this mean to you? What's the opportunity to you and for you? Why should you get involved?
Social media is an opportunity, a new frontier, a space in cyberspace that gives you an individual place to play, build awareness of you and for you, brand yourself, and potentially profit.
Here's what I recommend to get going and get positioned, so that your value - either in social, business, fun, or money -- can be realized:
· Sign on.
· Establish an account on each of the major medias.
· Post something.
· Tweet something.
· Connect with someone.
· Do it yourself.
· Do it every day.
And learn by updating as much as you can on your own.
Social media is fluid - it moves and changes daily. It's text, audio, photo, and video. It's every media and it's every second. It's current and it's constant. Ever see a section of a website labeled "latest news" and when you click it, the last update is from 2004? Not good.
The Internet is instant. Social media is instant. And you have to be ready to participate consistently, and in a meaningful way, if you want to win.
Please don't wait.
The new law will extend the $8,000 credit for first-time home buyers for sales contracts entered into by April 30, 2010 and closed by June 30. Further, it has been expanded to include a new $6,500 credit for owners of existing homes who are purchasing a new principal residence. An existing home owner can claim the $6,500 tax credit if they have been residing in their principal residence for five consecutive years out of the last eight. Additionally, the income eligibility limits to claim the full credit amount for both groups of home buyers have been raised to $125,000 for individuals and $225,000 for married couples.
Interest Rate will Go up possible to 7%,
Mortgage Rate are being held down by federal government to help stimulate the market, the government was active in purchase of mortgage-backed-securities over the year.
The goal was to control the interest rate, so home buyers can qualify for a mortgage but to end December 31, 2009 which will extend unit march 2010. So the private sector have to step up and provide mortgage , the government was comfortable lending 5% but the private sector will not see that as attractive.
•· National debt rising dramatically
•· Inflation looming down
•· Doesn't make good business sense to lend money for thirty year at five percent.
** New York Times just this past week said this about this issue:
"One of those things propping up the market has been the Federal Reserve, which has been buying mortgage-backed securities to keep interest rates low. As the Fed begins to wind down its purchases in the next few months, rates will become less enticing. Analysts expect them to rise to at least 6 percent from the current 5 percent."
If interest rate go up even by one percentage point, to six percent, as the New York Times suggests analysts are predicting, that will raise the cost of purchasing a home.
Some buyers are sitting on the fence right now, concerned that prices still might fall.In reality, even if prices fall another ten percent, if interest rates rise one percent, the buyer's monthly mortgage payment will actually be higher.
Call me or email me, I can connect you to the top agent your area.
Sales Rise 6.7 % in april!
Nar said it has it's biggest jump in sale since last 9 years up 9.2 %. "This is yet another positive indication that the bottoming process is forming," Jennifer Lee, an economist at BMO Capital Markets, wrote in a note to clients. The 30 year- fixed rate is around 5.3% compared to a week ago at 5 % (www.bankrate.com).
One of the biggest boosts to the sale is $8,000 tax credit for first time homebuyers, also since buyer need to FINISH their purchases by NOV, 30 to claim the credit.
Sales of inexpensive foreclosures and other distressed low-end properties have even sparked bidding wars in places like Westchester County and Bronx NY
Question:
What you think what will happen, will the home prices keep falling because of the massive REO. I complete understand that ever town/city/village is different
Building Wealth Together!! Real Estate is the easiest way to build wealth. Having the right agent is crucial. My experience speaks for itself. As a homeowner, investor and real estate consultant m
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