Ok, my blood is boiling as I write this…

I deal daily with families who are loosing their homes because of this economy and no one is doing a damn thing to help them, I mean nothing.  It is a very sad state of affairs when our government is allowing lenders to actually profit on people who are suffering.   This video is proving what I have said all along that (big)  lenders created this mess and will profit from it and they are BIG TIME.   You owe it to yourself to watch this video and forward it to everyone you know, including all the politicians in your state or community right on up to the top.  

CLICK HERE NOW TO BE SHOCKED!

Email me with your thoughts on this…  Click Here to send me an email.

Regards,

Larry Fleckinger
www.ForeclosureHelpBrevard.com

All who have ears listen..you need to pay attention to what is being said in this excellent CNBC  video (Below).
Know that the topics discussed in this video will have a direct effect on the real estate industry.

We need to pay very close attention to these emerging topics: Abolishing the GSE’s and Principal Mortgage Writedowns.

This video will give you a clear indication of what the government is considering. You need to ask yourself what will happen if there is a new program to reduce principal mortgage balances and if at the same time the GSE’s are abolished. (Assume that if Fannie and Freddie are killed off that rates, terms and qualification standards will be dramatically altered) (read more…)

Well there is more good news and bad news…I know you get tired of hearing that and all I am trying to do it not make everything sound bad. 

So the good news is that for 2009 home sales in Brevard County were up by 16% over 2008.   This is very good news and it shows that buyers are taking advantage of the low interest rates and the $8000 Tax Credit.  Remember they extended the tax credit until the end of April…you have to be under contract by the end of April 2009….for more info on the Home Buyer Tax Credit click here.  

Now for the not so good news…homeowners saw the median price of homes fall 24% during 2009 or 2% a month.   Keep in mind this is median home price, I believe you will find that as you go up the home value scale you will see a larger decline in value because we are not seeing many move up buyers in this market and the higher prices home sales are sluggish for the most part.

If you want to see the report with all the Florida Statistics including the Brevard Real Estate statistic click here.

Finally, as an add on to my previous post “Is Now The Right Time to Buy a Home?” , reason #9 for buying a home is the fact that FHA will be tightening up their mortgage guidelines in the near future to make it more difficult for borrows to get a loan…here they are…

As listed in the official announcement, there are 3 major guideline updates for the FHA:

1. Upfront mortgage insurance premiums are increasing to 2.25% from 1.75%
2. Minimum downpayments for applicants with sub-580 FICOs are rising to 10%
3. Seller concessions are being limited to 3%, down from today’s allowable 6%

Trust me, these are big changes and will have a negative effect on buyers in the near future hoping to purchase in this buyers market.  If you are a buyer now is the time to take action.  Give us a call and let us help you find and purchase your next home.

Till next time,

Larry Fleckinger
RE/MAX Aerospace Realty
321-252-9767
www.BrevardRealEstateInfo.com
www.BrevardHomeSearch.com
www.ForeclosureHelpBrevard.com

“Is now the right time to buy a home?” 

As are Realtor, I am asked this question often.  And I must say the answer is really based on a potential buyers needs and real estate goals.  First of all, even though the market is still declining, you have to consider other factors in making your decision.  1. Interest Rates are extremely low right now and an increase in rates has huge affect on your buying power.  2. Homeownership still has pretty impressive tax benefits.  3. Why make your landlord rich.  4. Real Estate is still a good investment in your distant future.  5. There are a lot of great home buys in today’s market. 6. You have until April 30th to get a tax credit up to $8000 for first time buyers and up to $6500 for present homeowners.  7. If you are waiting for the market to bottom, remember, by the time YOU know about it, it will probably be over and on the rise again along with interest rates.  8. Finally, buying a home now will help this nation toward recovery. 

So, that being said, here is a video that supports buying a home now.

Visit msnbc.com for breaking news, world news, and news about the economy

My Personal Disclaimer: Now is not the time to buy if you do not have a secure job or will be marginal in making your monthly mortgage payments and if you are looking to just get that big $8000 tax credit next year or think you will have to move in the next 3-5 years.  Please buy responsibly.  Give us a call and let us help you see if now is the right time for YOU to buy.  Contact me at 321-693-0771  If you want to search the Brevard MLS for a home visit www.BrevardHomeSearch.com

Larry Fleckinger