Terry L. Sanchez

A distressed home or "fixer-upper" can be a great investment great deal! How do you buy one of these great investment opportunities? Call Pinellas Financial about an FHA REHAB loan! 3% down payment and your credit can be less than stellar! We are a full service mortgage company located in beautiful Clearwater, Florida!

It's simple! You purchase the home the same as you would any other one and the money is included in your loan to fix up the property! With all of the foreclosed and distressed properties out there and FHA rates below 6%...WHAT ARE YOU WAITING FOR? Call Pinellas Financial today at 727-667-6792!

The medium home prices for the US housing market fell to $218,400 in September! The lowest in four years. So in essence we can roll the clock back to 2004 home prices. Some would say 2003 prices! The influx of more affordable homes on the market has given us our first increase in Real Estate sales in over a 1.5 years! Housing sales up 5.5% in September.

This data likely indicates a bottoming of home prices. We may be on our way for an eventual rebound in the US housing market, which is the root of the global, financial turmoil we are in. So stay optimistic! The good ole' fashioned laws of supply and demand are at work to correct the market and get our economy growing at a healthy pace.

Now is an excellent time to apply for a mortgage. Yes there is still mortgage money available and with programs such as FHA that require 3% down and just ok credit, why not take advantage of purchasing real estate at 2003 and 2004 prices!

Despite the media claims, there is still plenty of liquidity in the market for Mortgages. There is no "credit freeze" on mortgage money! In addition to conventional loans, many loans are now going through the Federal Housing Administration (FHA) insurance program. The down payment for an FHA loan is currently 3% (will go to 3.5% on Jan. 1, 09). With loan limits in Pinellas County at $292,500.00 and rates at or below conventional rates, what are you waiting for? Today's FHA rate on a 30-year fixed; 6%!

So don't believe everything you hear. We offer FHA, conventional, foreign national programs, Jumbo financing and work with short sale scenario's. With housing prices at 2003 levels, now is the best time to grab a deal!

I'd like to share what I think is a bright idea. I am a Mortgage Broker and was approached about providing lists of foreclosed homes that are currently for sale from the banks and investors I work with. There's a lot out there. These particular Realtor's are incorporating "foreclosure tours" as part of their business. Advertising to investor's and to anyone, the offer to go on these tours and view foreclosed properties every week! What a great idea! They are having great success from not only investor's but many people who have thought about taking advantage of this market and just don't know where to start. Maybe some of you are already doing this, but maybe the idea will help those of you who need a "fresh" goal to focus on!

HAVE A BEAUTIFUL WEEKEND! IN HIS NAME!