May 2010

Found 3 blog entries for May 2010.

real estate mortgage rates going downThings have definitely slowed down since the tax credit expired.  However, we're hoping sales will pick up again with the lowering interest rates that caught everyone by surprise.

It was predicted that interest rates would rise to around 6% in 2010.  No one was ready for this latest drop, below 5%!  Some are now saying we could see rates as low as 4.5% again!

How Low Can We Go?

We now have a great combination for buyers - prices have backtracked to 2003 values and interest rates are below 5%.  Some say prices have another 20% to fall, but I'm not a gambling person and with these low interest rates right now, I'm not sure I'd want to wait if I were thinking about buying.

What if prices don't fall another 10% or 20%?  What if interest rates

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communicating real estate feedbackAlthough I consider myself a listing agent, I also enjoy working with buyers.  Whenever I show a property, if I am sent a feedback request via e-mail, I fill it out as helpfully as I can.  I don't like discussing price unless it is really priced too high.  And I have to be careful, especially if I think my buyers might be interested in the property.

And that's why many agents do not provide feedback.  Below are excuses I've heard:

  • Some agents feel they're doing the listing agent's job by providing feedback.  They feel the listing agent should have informed the seller of the correct price and should have helped the seller stage the home properly.  I do not buy this as a valid excuse.  Sometimes a seller needs to hear it from more than one person. 
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The process of becoming a homeowner is an exciting and often daunting one. The current economic climate has heightened the anticipation since, while it’s a orland park home soldwonderful time to buy a home. In fact, the government recently provided a tax credit to buyers (which is still available if you are a deployed service member). While the market is favorable and sellers are extremely motivated, many banks are tightening their lending requirements and loans can often seem hard to come by. Although USDA and VA loans may not be the first loans most potential home buyers normally consider when looking at home financing options, each can be a wonderful choice for a wide variety of lifestyles, budgets, and properties.

VA loans, which are backed by the US Department of

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