My New Blog

Hi Everyone,

Just wanted to remind you of an invaluable tool for finding the best rate on Flood Insurance here in the state of Florida

http://www.shopandcomparerates.com/

Go check it out and see how much you can save!

Enjoy -

Terra

SAVE THE DREAM

Century 21 is launching a new program to help homeowner stay in their homes.  If you are facing foreclosure, ie cannot make your payments you must act as you have several options.

1. Visit these websites

The government passed a new TAX CREDIT for first time homebuyers but it is only for a limited time. 

- Must purchase your new home between April 9, 2008 and July 1, 2009

- According to the law, the definition of a first time homebuyer is that you must not have owned a home (as your main residence) within in the past 3 years

-"The tax credit is a refund from Uncle Sam. For instance, if someone owes $2,000 in income taxes, the $7,500 tax credit would wipe out that amount and the federal government also would send out a $5,500 check. If the taxpayer owes nothing at tax time, the check would amount to $7,500." The Florida Association of Realtors

-" the tax credit must be repaid over a 15-year period to the federal government. According to the National Association of Home Builders, the tax credit is best described as a zero-interest loan." The Florida Association of Realtors

-"Single taxpayers can get the full tax credit if their incomes are less than $75,000. Married couples will qualify with incomes up to $150,000. The tax credit phases out for higher-earning homebuyers and goes away entirely for single taxpayers earning more than $95,000 and married couples $170,000." The Florida Association of Realtors

There are many great programs available right now for the homebuyer. Nehemiah was available but ends Oct 1 but the country is making strides to encourage people to invest back into the real estate market and I strongly believe that that is the best place to put your money right now. Invest now, give is a couple of years and you will be able to turn a profit. The majority of my customers have the equity they want in their homes at the closing table!

Here is some useful information to help you stay informed. This was just released:

Sales of resale homes in the Greater Fort Myers area rose again for the eighth consecutive month in August, with a total of 729 properties sold – up 79% versus the prior year.

However, the value of homes dropped again in August as the median price of an existing single-family home sold for $134,900.  There were 11,097 single-family homes for sale in August in the area, for an estimated 9.6 month supply of inventory. 

VERY IMPORTANT NEWS ABOUT LOANS!!!!

This is from the CEO of Century 21:

"

Dear CENTURY 21^® System Members,

Mortgage Rates Have Dropped Dramatically!

On September 11, 2008, Freddie Mac released the results of its Primary Mortgage Market Survey^® (PMMS^®) and report that the 30-year fixed-rate mortgage (FRM) averaged 5.93% for the week end, down from last week when it averaged 6.35%. Last year at this time, the 30-year FRM averaged 6.31%.

The 15-year FRM this week averaged 5.54% down from last week when it averaged 5.90%. A year ago at this time, the 15-year FRM averaged 5.97%.

Please visit http://www.freddiemac.com/news/mediaroom/ to read the entire press release.

This is great news for buyers and sellers! I encourage you to look at the details and talk to every prospect, every customer, and every influencer: Now more than ever – this is a great time to buy a home!"

I think that all of this is a sign that our housing markets across the country will start to correct themselves.

Let me know if you have any questions or if you need to know of lender that can help. And as always, I hope that I can help you buy or sell your home. If you know of anyone that may be in need of my assistance, please let me know and I promise they will recieve world class service!

Just a little FYI -

I just recieved this email from a trusted mortgage broker:

Hi everyone,

I have to tell you that business has picked up of late! Woohoo, that is good news for everyone. Did you know that Southwest Florida had the worst housing statistics in the nation... yep, no joke.  I think that I all of us living here or wanting to live here are wondering, "What in the world is going on the prices and market?

I finally think that you all who have been waiting to buy are actually acting now. I am proud of you who have taken the next step in your home buying "relationship".  To those of you who haven't.... you may regret it in a couple of months.  I have seen so many great deals for everyone from families to seasonal residents. There are pool homes close to the beach for under 250K and furnished condos for under 100K. Amazing!

So what has changed from a year ago? Many things, prices has drastically dropped and mortgage rates have evened out.  The FHA loans have become the new "subprime" and buyers have realized that the deals are out there and they do not last long. We are even getting multiple and overpriced offers on some homes, no kidding.

What I want to know is what are you waiting for? Have you always wanted to invest in real estate - do it now. Are you wanting to provide your family with their first home - do it now.  Need Financing options, not sure if you can qualify? I have people! You won't regret it once you find that perfect house at half of what the current owners paid for it.

There is a lot going on right now in the Real Estate Market... a lot! One thing that can help homeowners in distress is negotiating a Short Sale with their lender. I have helped several of my customers get out of their house and on with their life.

You might be wondering what exactly is a short sale... If you need to sell your home or are facing foreclosure but you cannot sell your house for what you owe, this is where the bank may accept a sales price less than what you owe. Does that make sense? It is a long process but not even close to being as painful as a foreclosure, both on your credit and your ego.

If you need help, have any more questions and/or want to see if this is a good option for you please give me a call so that we can meet! I have attended many training sessions and have information that can help you!

Terra