Thursday, January 31, 2008

Fed Cuts Rates!

What does this mean for long-term rates?
Long-term mortgage rates, the lowest we've experienced in years, could actually increase after this cut, based on historical performance and recent trends.
So if you're waiting for long-term rates to fall further, don't count on it. Your best chance to lock in the lowest rates since 2005 is now. Getting your application in process now will allow you to capture a great rate before it's too late.

What REALLY moves mortgage rates?
Fixed-rate mortgage rates aren't directly tied to Fed interest rate moves. Instead, they tend to follow in the direction of other long-term government bond yields, such as the 10-year Treasury, which historically moves in accordance with the economic outlook and in advance of Fed actions. The performance of Mortgage Backed Securities, issued by Fannie Mae and Freddie Mac, is what really determines long-term mortgage rates.

How does the economic stimulus package fit into the picture?
The economic stimulus package from Congress and the White House could be a double-edged sword for borrowers. Combined with recent Fed actions, the package could create inflation and bring about higher long-term interest rates.
On the positive side, conforming loan limits are likely to be raised from the current $417,000 to upwards of $625,000. This means great potential savings for purchase and refinance candidates who live in 20 high-cost areas across the country.
Search the MLS for Ventura County Real Estate at:

Monday, January 21, 2008

Are you trying to sell your home?

Here is an artical from Broker Agent News that might help you.....

Makeover Tips that Can Sell Your Home -- The year a home was built helps determine which renovations are most likely to pay off for sellers, experts say.

Lorraine

Search the MLS for comparables at:
http://www.venturarealestate24-7.com/ext_searchall.asp

Sunday, January 20, 2008

Canceling an Escrow

So, your selling your home and you've gotten to the end of the escrow and you're expecting to hear you've closed escrow. But, instead you get a call that the buyer cannot close escrow for another week. Do you have any recourse? Well, it depends. Do you have another offer from a buyer you'd rather take? If not, it might be in your best interest to work with your current buyer and eventually get the escrow closed. On the other hand, if you feel confident in another offer, you must first give your first buyer sufficient notice that you intend to cancel the contract unless they close the escrow. Your Realtor can help you with a form that will do just that.

Search for the MLS for Ventura County Homes at:

www.HopeGoss.com

Monday, January 14, 2008

Want a Good Investment?



This adorable Ventura Home is for sale

in the Poinsettia School District. Sellers

are motivated and it is priced to sell at

$524,900. Call Janis at (805) 218-7016

for a showing before it is sold. It is in

such good condition you won't believe it!

Nice bright kitchen and large backyard too!! Hurry.

Check out more information and pictures at:

http://www.JanisCalkins.com