If you are a property owner you need to contact a bank, mortgage broker, lender, etc. and find out your ability to refinance your property. Mortgage rates have dropped significantly and you don’t want to miss out on lowering your monthly payment or converting to fixed rate financing. While financing has become more difficult over the past year it is not impossible and it is much easier to refinance a property than get new financing on a purchase. Amid Rate Drops, Mortgage Applications Soar With interest rates approaching reaching historic […]
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Should I Refinance?
December 24, 2008 in RESIDENTIAL R.E., Step 07: Fund Your Deals
With the drop in interest rates many people are wondering if they should jump in and refinance their properties. There is a cost to refinancing and it is important to look at some numbers before refinancing to make sure you are better off with the new loan. There are four things you need to consider when refinancing- 1. How much your payment will decrease 2. How much it will cost to refinance (closing costs, points, etc.) 3. How long you plan on keeping the property 4. Are you refinancing to […]
Market Picking Up?
December 24, 2008 in RESIDENTIAL R.E.
Most real estate markets have been battered and most real estate markets are going to rebound. The question is when? No one knows when but certain indicators will give us an idea that things are starting to pick up. This article talks about how buyers are starting to come back into the market increasing demand for homes and stabilizing prices. Business Picks Up Where Prices Have Tumbled Sales are picking up in markets where prices are deflated, but the business is different than it was before the bubble burst, observers […]
Low Prices, Low Rates Mean Opportunity
December 12, 2008 in RESIDENTIAL R.E.
Don’t let all the negatively and bad news in the market get you down. Buying opportunities exist. As long as you are careful in your research and due diligence, you thoroughly put your numbers together and make solid (low) offers you will be rewarded. Low Prices, Low Rates Mean Opportunity Housing prices have fallen dramatically all over the country and rates on 30-year fixed-rate mortgages are already close to 5.5 percent. Experts say it’s possible, with government encouragement, that rates will fall as low as 4.5 percent. Now is the […]