This is a Re-Blog of a post by Mike Jones, an out of town mortgage broker. Thanks Mike!
I'd have Re-Blogged any local lender who said the same thing:
- Buyers, call your REALTOR*.
- Don't squander the opportunity on a short sale that won't close for months. The rates may have evaporated by then.
- Get something under contract that you can close in 30 days.
- Call your favorite mortgage broker, complete your application, and LOCK IN THE BEST RATE
* 614-388-8249
Yes the short sales can be tempting.
In some neighborhoods you can find NON Short Sales priced very similarly.
It's about time.
Just like this magical rainbow in the middle of a storm, there's a sweet spot emerging right now for buyers, agents and lenders. It's a convergence of price and the cost of money.
Home prices have fallen to levels affordable for buyers across the spectrum.
Today, on the announcement that the Fed plans to buy as much as one trillion dollars of bonds, rates fell. Qualified buyers (for the moment) can borrow purchase money at a fixed rate in the mid fours. Qualified borrowers can refinance existing mortgages.
It's a sweet spot in the middle of a financial storm, and I believe its beauty is destined to be momentary.
The future must hold rampant inflation again, as the government prints money out of thin air. There will be inflation, but not this month. Not at this moment.
Yesterday was St. Patrick's Day, and the interest rate Leprechauns are spilling gold at the end of the rainbow. Don't hesitate to take advantage of this lull in the storm.
- Buyers, call your REALTOR.
- Don't squander the opportunity on a short sale that won't close for months. The rates may have evaporated by then.
- Get something under contract that you can close in 30 days.
- Call your favorite mortgage broker, complete your application, and LOCK IN THE BEST RATE.
_____________________________________
I'm Mike in Tucson, your preferred Tucson, AZ Mortgage lender.
Think of me as your Tucson mortgage expert.Call me if I can help you with a purchase or refi mortgage;
(520) 349-9090photo copyright Chuck Park (used with permission)
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This post provided by Maureen McCabe of Real Living HER
Contact 614.388.8249
Website: MaureenMcCabe.com
email: MaureenatMaureenMcCabe.com @
Information is deemed to be accurate but should be verified to your satisfaction. Information provided herein is supplied by several sources and is subject to change without notice. Opinions expressed are solely those of Maureen McCabe.
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Hey Maureen,
This is a very nice re-post. All of his points are very valid and this is the message that, unfortunately, does not get pushed enough by the media. Everyone is so terrified due to the news and the messages in the news that it is hurting the industry.
Agreed. Mike's post was timely and well informed. It inspired me too.
Hey Khash write good content with an Ohio flavor and if I see it, I will reblog it.
I don't like a lot of contact info on the bottom of a post... I thought a moment or two about not Re-Blogging Mike's content.... but it is too good a message NOT to.
Thanks for the comment Lenn! Mike hit the nail on the head when it comes to a buyers best interest.
Whew! Almost axed, and I didn't even know it. LOL Maureen, thanks for reblogging. I always put that tag on public postings because people find us by accident on the internet. (And I only originate loans in Arizona. No competition for the local folk.) Much Success today!
Mike in Tucson
Don't worry Mike the good content outweighed my personal taste or lack there of.... I have never really thought of it being from the point of view of people originating outside of statelines... or unlocally... well except in the case of California...
I like local flavor... but good information trumps local.
It is a great message... it is about time.
closing comments on this old post due to spam.