Foreclosures Are Still Out There

   I have talked to some people that thought the foreclosure market is no longer a factor....not true. There are still a lot of properties that are being foreclosed on, especially in Prince Georges County, MD.

Here is an article you might want to review:

http://www.washingtonpost.com/blogs/where-we-live/post/washington-area-home-prices-a-tale-of-two-states/2012/03/06/gIQA8NqLvR_blog.html


Til next time,

JC

Can You Buy a Home?

  I have people that ask me that because they want to get a home but, they are afraid to see if they qualify because they know their credit score is not where it needs to be. Come on, let's be honest; the majority of the population does not have A1 credit so get that mindset out of your head that just because your credit score is not above 720 that you cannot get a home. The first step to face that fear is to simply ask for help and see if you can qualify. Contact me today to see if you can, ill do my best to find a way for you.



Til next time,
Jeannine Cooper
New Realty
443-869-1364


P.S. Here is a great article as well: http://www.kellerwilliamsasheville.com/pages/buyingprocess.shtml

Short Sale means Motivated

   After being a realtor for about 3 months now, I have realized that when someone is doing a short sale, that means that they are motivated. I mean why else would they short sale. Short sales can still have a negative affect on your credit so, if your willing to take that hit that must mean one thing....."Please buy my home"

Here is a good article to read:
http://homebuying.about.com/od/buyingahome/f/022908_MotivSlr.htm



Til next time,

JC

Buy, Fix and Live

  One way to purchase a home that is a great investment is to purchase a home to fix up and live in. I found a great article that tells to how to make that possible.



http://www.ehow.com/how_5392202_fix-up-live-old-house.html

Til next time,

JC

A Great Team

One thing I always tell my buyer/sellers is that you need a great team behind you to help you get to the closing table. These will be the key people working for you to get what you need, when you need to close on your home. Here are the key people

1. Realtor
2. Lender
3. Inspector
4. Appraiser
5. Contractor (if getting a 203k loan to rehab/fixing up your home to sell)
6. Buyer/Seller

Realtor- Your main person of contact that will bring the deal together for you by keeping in contact with your team to make sure everything is on schedule

Lender- Will lend you the money to finance your transaction

Inspector- Will inspect the property to make sure there are not any problems or hazards with the property

Appraiser- Will let you and the bank know the value of your home.

Contractor- Will help you fix up the property to sell/help you rehab the property

Buyer/Seller- Will be the person purchasing your home/person selling the home you want to buy.

Start on your team today.

Til next time,

JC

Economic Update

Here is the economic update provided my Citi Mortgage

Economic Update

Washington, D.C. (December 5, 2012) - Mortgage applications increased 4.5% from the previous week, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending November 30, 2012. These results included an adjustment for the Thanksgiving holiday.

The Market Composite Index, a measure of mortgage loan application volume, increased 4.5% on a seasonally adjusted basis and 49% on an unadjusted basis from the previous week. The Refinance Index increased 6% from the previous week. The seasonally adjusted Purchase Index increased 0.1% and the unadjusted Purchase Index increased 36% from the previous week. The unadjusted Purchase Index was 0.1% lower the same week one year ago.

The refinance share of mortgage activity increased to 83% of total applications from 81% the previous week. The HARP share of refinance applications increased to 27% from 26% the prior week. The adjustable-rate mortgage (ARM) share of activity decreased to 3% of total applications.

December 5, 2012 - Freddie Mac's weekly survey of average mortgage rates saw 30 year fixed rate mortgage loans at 3.34% and .7 discount points. Average 15 year rates were 2.67% and .6 discount points.

December 7, 2012 - The Bureau of Labor Statistics (BLS) released the Employment Situation report for November noting that Hurricane Sandy did not affect the national employment and unemployment figures in today's release. The establishment survey indicated that payroll employment increased by 146,000 with private sector payrolls increasing by 147,000 and a loss of 1,000 in the government sector. Estimates for both September and October were revised downward by a total of 49,000. The household survey indicated that the unemployment rate decreased to 7.7% from 7.9% in October.

Source: Mortgage Banker's Association of America, Freddie Mac, Bureau of Labor Statistics, National Association of Realtors

It's a perfect time to purchase a home. Contact me today to get started

 

Til next time,

 

JC