Tuesday, December 16, 2008

$$MILLION Dollar Waterfront Luxury Villa 45% DISCOUNT

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Tampa Bay Mid December Merry Christmas

Your REALTOR:
Bonnie Fagoh
December 2008
Buyin' or Sellin'....Call Bonnie Helen! (Fagoh)(813) 390-7606
Copyright © 2008 Realty TimesAll Rights Reserved.
Real Estate Outlook: Mortgage Applications Rise
If new mortgage applications are a reliable gauge of forthcoming home purchases, looks like we've got a bumper crop taking shape out there.
Last week the Mortgage Bankers Association's national survey registered a record 37 percent jump in applications for new conventional loans to buy houses, and a 39 percent increase for home purchases using FHA mortgages.
The reason for the sudden surge? A half point drop in 30 year fixed mortgage interest rates to 5.47 percent -- which was down from 6 percent the previous week -- and to just 5.13 percent for fifteen year loans.
The rate drop happened almost overnight, after the Federal Reserve announced plans to pump up the housing sector by buying $100 billion worth of bonds issued by Fannie Mae and Freddie Mac.
The Fed also said it plans to buy about half a trillion dollars of mortgage-backed securities issued by Fannie, Freddie and Ginnie Mae beginning this month. Ginnie backs the FHA side of the market, just as Fannie and Freddie do on the conventional side.
So why did the Fed's moves mean so much? Because mortgage rates have been higher than they should recently due to bond investors' uncertainty about the safety of Fannie and Freddie.
Both companies racked up multi-billion dollar losses last quarter, causing investors to demand extra-high premium returns before they'd buy Fannie or Freddie debt.
But now that's over. The government's backing of Fannie and Freddie is explicit and big. Investors are reassured. They'll take lower premiums, allowing consumers to get lower mortgage rates.
Although lenders report their phones were jammed with applications from people who want to refinance, the big surprise was the huge jump in applications from consumers who plan to buy houses.
With prices down in the majority of markets, more and more people are finding that the equation now works: Fixed rates in the mid-fives combined with pricing at 2003 and 2004 levels make a compelling case that this is an excellent time to buy - provided you've got a downpayment and reasonable credit.
The bright spot in housing finance came in a week that was otherwise pretty much an economic downer: More bad news on Wall Street; followed by the official designation that we're now in a recession.
One additional bright spot to report: Unsold inventory -- the backlog of houses that weighs down local markets -- dropped by a full point and is now down 4 and a half percent for the year.
That's a very positive sign and should only get better with lower mortgage rates

Monday, December 8, 2008

December Update

Your REALTOR:
Bonnie Fagoh
December 2008
Buyin' or Sellin'....Call Bonnie Helen! (Fagoh)(813) 390-7606
Copyright © 2008 Realty TimesAll Rights Reserved.
Daily News And Advice
Updated 01:00 AM CST Today
Today's Feature Stories

Washington Report: Rate Reduction Proposals All the details haven't been nailed down, but Washington has been buzzing in the past week that the Treasury Department has actually listened to the housing and real estate industries' calls for widescale rate reductions for home purchases. FULL STORY->
December Cybertips Thinking of building that deck? How about an attractive tool or pool house? Whatever chore you envision, you can now envision it better in 3D. This tip and more in this month's column. FULL STORY->
Condo Trends: The Trend That Gives and Give If you're nearing the age of 50, then you've probably already heard about a type of design in housing called "universal design." FULL STORY->
Silver Lining Behind A Foreclosure? There's hardly any good news to speak of when the words mortgage and foreclosure are used in the same sentence but one self-proclaimed wrongful-foreclosure homeowner has identified a silver lining behind the massive cloud. FULL STORY->
Long-Term Mortgage Rates Plummet; Short-Term Rates Fall But Not as Dramatically Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.53 percent with an average 0.7 point for the week ending December 3, 2008, down from last week when it averaged 5.97 percent. Last year at this time, the 30-year FRM averaged 5.96 percent. The 30-year FRM has not been lower since January 24, 2008, when it was 5.48 percent. FULL STORY->
Investor Report: Diversify in Mexico Investors looking to diversify their portfolios into land or rental properties -- that are still gaining in market value -- ought to look south of the border. FULL STORY->
HeadlinesLong-Term Mortgage Rates Plummet; Short-Term Rates Fall But Not as DramaticallyFreddie Mac today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.53 percent with an average 0.7 point for the week ending December 3, 2008, down from last week when it averaged 5.97 percent. Last year at this time, the 30-year FRM averaged 5.96 percent. The 30-year FRM has not been lower since January 24, 2008, when it was 5.48 percent. FULL STORY->Hot Market: 3Q in Florida Shows Strengthening MarketHome buyers and investors are making their way south again to the Sunshine State. The third quarter sales statistics demonstrate sales increases across the board with a 5 percent increase in sales for the quarter compared to the same quarter a year ago. FULL STORY->Investor Report: Diversify in MexicoInvestors looking to diversify their portfolios into land or rental properties -- that are still gaining in market value -- ought to look south of the border. FULL STORY->Silver Lining Behind A Foreclosure?There's hardly any good news to speak of when the words mortgage and foreclosure are used in the same sentence but one self-proclaimed wrongful-foreclosure homeowner has identified a silver lining behind the massive cloud. FULL STORY->Good Intentions Don't Excuse Poor ResultsThe world has changed dramatically in the last 50 years. There has been more innovation and more technological progress in the last 80 years than there were in the previous years added together since the beginning of time. FULL STORY->Market ConditionsFed Chairman Ben Bernanke said yesterday that more must be done to help homeowners -- and that help needs to include the government and banks stepping up to the plate. FULL STORY->No Place Like Home For SavingsHome-related expenses account for a large portion of cost-of-living increases. Your home is also chock full of potential savings that can help you get into your next home. FULL STORY->How to Build Your Business This Holiday SeasonProspects are on vacation, the family is staying over, and it's real easy to postpone any sales related activities. Here's how to stay on top of your business. FULL STORY->Market ConditionsThe National Association of Realtors is reporting that curb appeal may be just the way to get the most out of your investment. FULL STORY->American Petroleum Institute Wins the 2008 Community Builder AwardRebuilding Together, a leading nonprofit organization working to preserve affordable homeownership, honored The American Petroleum Institute (API) with the Patty R. Johnson Community Builder Award for 2008. FULL STORY->Interest Rate Buy-Down is Major Element of NAR Housing Stimulus PlanSo Many Different Business Plans: Which Do You Choose?Ask the HOA ExpertAdopt the "Forge Ahead to Prosperity" Attitude Essential in BusinessReal Estate Outlook: Sales Jump in Ailing MarketsThe Small House MovementWill 2009 Be an Awesome Year? 10 Tips To Get ReadyMarket Conditions30-Year Fixed-Rate Mortgage Rate at Seven-Week Low According to Freddie Mac Weekly SurveyAgents Need to Be on Guard When Handling Short SalesWashington Report: Modifying Loan TermsGreen Counter Tops Tell An Eco-Friendly StoryHot Market: Elmira, NY -- Stable Economy, Moving PricesTechno-SellingInvestor Report: 1031 TIC BankruptcyThese Are the 'Best of Times' for Multifamily TIC Providers and Investors: Part IITelling Your Home's Story SellsCan You Rely on Your SOI Even in Today's Market?Just Two ThingsGreen Building is Growing Despite Down Market, According to Report from McGraw-Hill Construction
CURRENTMORTGAGE RATES
Interest Rate Watch
30 yr fixed:
5.53%
15 yr fixed:
5.33%
1 yr adj:
5.02%
(U.S. Daily Averages)
LIBRARY
Buyers AdviceSellers AdviceHomeowners AdviceAdvice for New HomesAdvice For BorrowersRental AdviceHomeowner Association NewsNAR News
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Bonnie Fagoh E-mail: bonniefagoh@century21beggins.comWeb: http://www.TampaCoastalHomes.com813-390-7606
Century 21 Beggins Enterprises813-658-13446542 U. S. Hwy. 41 N.Apollo Beach, FL 33572
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Monday, December 1, 2008

December 2008


Your REALTOR:
Bonnie Fagoh
December 2008
Buyin' or Sellin'....Call Bonnie Helen! (Fagoh)(813) 390-7606
Copyright © 2008 Realty TimesAll Rights Reserved.
Should I Take My Home Off the Market During the Holidays? When you look at your calendar you may find the months already overloaded with seasonal obligations -- shopping, entertaining, children's pageants, charity work, decorating the house, and so much more. If you are also trying to sell your home, you are under extra pressure to keep your home in "showtime" condition. And that could be the last thing you need before the holiday spirit is broken. It is understandable why you would be tempted to take your home off the market during the holidays. And the list of justifications is long. If you are too busy, buyers may be also, and you may
Mortgage Rates U.S. averages as of November 26, 2008:30 yr. fixed: 5.97%15 yr. fixed: 5.74%1 yr. adj: 5.18%30 yr. jumbo: 6.98%-->
View current rates
find your efforts unrewarded with not enough showings. And what if you do get an offer? You may be faced with the possibility of packing and moving during the busiest time of the year. Besides, you can give your house a rest, and it will
CONTINUED >>>
Wondering What Your Home Is Worth?Let me show you.
Disclosure: Safest WayTo Sell A Home If you're putting your home on the market, better be sure you're ready to tell all -- good and bad. "The majority of lawsuits or claims that occur are as a result of buyers finding out about something that is wrong with their property after the close of escrow and coming to the belief that the seller knew but didn't tell them," says real estate attorney, Peter Solecki of Winton & Larson, LLP. Disclosure is vital. In one extreme case, it may have spared a seller from going to jail and even saved lives. The New York Times reported on a trial back in the late eighties that found the seller of a home guilty for not disclosing to the buyers that the home's heater had malfunctioned. The buyers and one of their children were asphyxiated by fumes from a gas-fired heater used to de-ice the driveway of their home. Only their four-year-old child survived. The seller was convicted of involuntary manslaughter. This case is believed to be the first of its
CONTINUED >>>
Real Estate Outlook: Sales Picking Up Tempo Here's a key question about the current market: Do you look at home prices to figure out where we are in the real estate recovery cycle, or do you focus on sales? In an economy where an estimated 35 to 40 percent of all home transactions are foreclosures or short sales - distress situations in other words -- prices won't really guide you much beyond the conclusion that: We're still "correcting” the excesses of the boom years, still peeling back those wild and unsustainable hyperinflationary price run ups. So it's no surprise that median prices are down, year to year, in a majority of large markets across the country. Sales statistics, on the other hand, tell you how fast buyers are responding to those lower prices -- and greatly improved affordability. Right now, in market after market, sales are picking up tempo -- especially in places where prices once spiraled out of control. Third quarter sales of existing homes in the U.S. were up by 2.6 percent over second quarter 2008 levels, according to the National Association of Realtors' latest study. That's not spectacular -- but let's face it: It's forward movement … and we're in
CONTINUED >>>
Green Counter Tops Tell An Eco-Friendly Story Upgrading kitchens is one of the best ways to increase value in your home. Deciding to remodel the kitchen using green recycled materials can add extra appeal. It also gives homeowners a good feeling knowing that once-wasted materials that are generated from glass manufacturers are now being put to good use. "A lot of people are deciding to go green and this is definitely a green-certified product because it is 85 percent recycled glass," says Cody Nosko, President of CCM Enterprises. She’s talking about Vetrazzo—a slab of material made from recycled glass and concrete and used mostly in residential homes for kitchen and bathroom countertops although it can go anywhere natural stone is commonly used. The
CONTINUED >>>Local Market Conditions
Daily News and Advice -->Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
More Articles

November Round Up: Rates Falling

Holiday Wish List

Home Warranty May Come in Handy

Maintaining Curb Appeal Through Winter
Bonnie Fagoh E-mail: bonniefagoh@century21beggins.comWeb: http://www.TampaCoastalHomes.com813-390-7606
Century 21 Beggins Enterprises813-658-13446542 U. S. Hwy. 41 N.Apollo Beach, FL 33572