“The latest wrinkle in the Greek financial crisis is a rush by its citizens to withdraw their savings from banks. This is both a symptom of the fear that Greece might leave the euro zone and a potential catalyst to force that exit.
While Americans might view news like this with a certain detachment, it’s important to recognize that events in Greece could affect the U.S. financial system, and may not be as far removed from conditions in this country as many would like to think.
Here are five essential things to understand about the Greek currency crisis:
Mortgage rates dropped again last week for the sixth consecutive week, according to the weekly survey published by Bankrate.com. The rate for a 30-year fixed mortgage dropped by .05 percent. Rates remain low but experts warn that since today’s low rates are largely thanks to debt troubles in Europe that any good news from there could cause a quick reversal.
I wanted to remind all new homeowners it’s time to fill out the Residential Homestead Exemption form and mail it in to the Tax Assessor! It can be found online at http://www.window.state.tx.us/taxinfo/taxforms/50-114.pdf
IMPORTANT: These are due by April 30th, 2012. The homestead exemption status can help lower your taxes in three ways:
1. The appraised value of your homestead property is limited to a 10 percent increase per year.
Here are some things you will do to assist in selling your home:
Home should be spotless, especially the bathrooms and kitchen. Carpets cleaned, tile and grout cleaned, as well as windows. And no overwhelming odors, good or bad.
Remove clutter, including stacks of magazines and books. Tidy up shelves packed with lots of small items, and overstuffed closets and cabinets. These things all make the house seem smaller and lacking in storage.
Kitchen counters should be free from unnecessary objects. Magnets, notes, and pictures removed from the refrigerator door.
9 Tips on getting what you want…
1. Never put things into writing unless you’re prepared to live with them. Once an item is put into writing, it becomes an anchor either for you or the seller/buyer. This is especially critical when negotiating with another agent who will use anything put into writing as leverage.
2. Always have room to give something the other person will deem as a perceived benefit. This is why it is so important to sell first and negotiate second. By selling first, we have the opportunity to ask questions and validate the key benefits for which the other party is looking.
Well, I’m of course comparing this season with the boom from 2003-2008. And with news just out hours ago, that the banks that took seroius advantage of its own in that time, must come clean or face THE GOVT! And the best way to regulate the bankspractices is to take their money. They probably won’tever lend like they did in the days mentioned above.
Fannie Mae & Freddie Mac are tired of wear a coat of shame and are now saying you sold mortgage bonds that should never of been sold, which lead to the collapse of the market.
But to the big boys in Wall Street, they saw an untapped market, the middle-class. The investers presented a way to bundle thousands of mortgages, with a 5-6% interest rate, typically a 15-30 year term, and showed that people would “always” pay for their homes, not leaving you, Mr. Investor (BofA and others), with no payment.
And there is the birth of the mortgage bond industry. Read this article to gain more insight of what kind of ramifications this will have. Maybe none? More scrutiny for buyers looking to purchase? Have we seen all the changes in the mortgage industry take shape yet? I don’t know but please share your thoughts.
In residential real estate, one way value is determined is by what buyers are willing to pay. There are two ways to do this: one is a Comparable Market Analysis and one is an Appraisal. Each option gathers and compares the same information, but they require different licenses — either a real estate license or an Appraiser license. Read More
We are in the best months of real estate! Here is a newsletter that breaks it down for you. Take 1 minute to update yourself on what’s happening in your housing world
tries to unload all foreclosed houses in its portfolio.
If you buy a house Fannie Mae is holding as a result of a foreclosure,
the group will give you up to 3.5 percent of the final selling price
to be applied toward closing costs. The sale must closed by June 30.
So, you’ve had a short sale.
Or a foreclosure. Now you’re renting. And you want to know, “When can I buy again!”
Here’s the low-down…
Federal Housing Administration (FHA)
1) Foreclosure is 3 years
2) Deed-in Lieu is 3 years
3) Short Sale is 3 years
4) Bankruptcy is 2 years