Archive for March, 2010
March 29th, 2010 | 
Author: by Lee Davies
Fact One: Home Buyer Tax Credit Incentives Expire April 30!
If you are planning to purchase this year, then all economic indicators would suggest that you get a home under contract in the next six weeks to receive the full benefit of the government incentives. This is the second expiration date on these incentives in the past five months, as the federal government extended and expanded the incentives this past November to now expire this April. To learn more, this short You Tube video prepared by the IRS will keep you in the loop.
Homebuyer Tax Credit–IRS Video
Fact Two: Record Low Interest Rates Are Likely to Rise
Last week’s remarkable interest rates were as low as 4.75% on a 30 year fixed conventional loan. The federal government has created this artificial market by supplying cash to the industry through mortgage backed securities. This was done beginning in 2008 as a temporary solution to stabilize the real estate market. Now that the market is showing signs of stabilization, the word is that the government will begin retreating and allow the free market to resume. To learn more you can read this excellent CNBC article.
Fed holds rates at record lows to foster recovery–CNBC Article
Fact Three: Homes are still selling – Pricing and Preparation is critical
The spring real estate market is heating up and Lee Davies Real Estate is off to a record start! While we would like to take much of the credit, the fact is, our sellers do the hard work by preparing their home for the market with our counsel and then pricing their home accurately to generate results. Our comprehensive “Direct Home To Home” Price Reports are a critical piece of this equation. To learn more, this You Tube Video will explain how we educate our sellers to price their home effectively.
Pricing Your Home–Lee Davies Video
Click on the image below to see the full RMLS report in PDF format:
Market Action Report
from Northwest Mortgage Group
| Program | Rate | APR |
| 30 Year Fixed up to $417,000 | 4.875% | 4.993% |
| 15 Year Fixed up to $417,000 | 4.25% | 4.45% |
| 30 Year Fixed up to $500,000 | 5.50% | 5.617% |
| 30 Year Fixed up to $600,000 | 5.625% | 5.739% |
As of March 16, 2010 (1% loan fee applies)
Rates shown above are based on transactions with a 20% down payment, 1% loan origination fee, 740 credit scores, impounds for property taxes and insurance and 30-day rate lock. Contact Jeanine Roe or Brian Page of NW Mortgage Group for more information at 503.439.9191.
Lee Davies Real Estate is here to help you with any home purchasing decisions and questions you may have. Call us today at the Portland West Office 503-292-1500, or at the NW 23rd Office 503-445-1500. This video topic covers how Trading Up Your Home is a great idea in this market.
This video topic covers how Lee Davies Real Estate can help you Price Your Home for Sale. Pricing your home is a critical step in the overall process of deciding to list your home for sale. Choosing the correct price can directly affect your homes length of time on the market.
