Many economists are predicting a significant hike in home prices over the next 5 years, so if you are a renter who has been debating on whether or not now is the right time to buy, you may want to take a close look at the numbers.  In her article, Ten Cities To Go From […]

The good news is that sales on existing homes, both single family and condos, continue to increase and inventories are decreasing in Miami-Dade county. The bad news is in the foreclosure numbers for 2009.  The numbers include all properties that are in some stage of the foreclosure process. Palm Beach County – 30,870 Broward County […]

I came across a great article that explains the effect of interest rates on your purchasing power so well, that I have to blog about it.  Now that inventories are decreasing and we are running into an April 30, 2010 deadline for tax credits, you have to read it if you have been on the […]

Okay, you have been hearing that now is the time to buy a home, but maybe you are still unsure of why, when there is so much inventory on the market and so much insecurity in the economy.  Here are 7 specific reasons: Home Buyer Tax Credits – The Government is paying first-time home buyers […]

In an attempt to work through the more than 110,000 open foreclosures and the 7,000 new ones that are filed each month, Miami-Dade County has put them on-line.   Registration is free and allows you access to the county’s foreclosures.  If you want to bid, you will be required to put down a refundable 5% deposit.

After rising for the past four weeks, long-term mortgage rates fell last week.  Freddie Mac reported 30- year fixed rate mortgages averaged around 5.09%, down from 5.14% last week.

The Fed’s Mortgage Backed Security (MBS) purchase program ends on March 31, 2010.  This purchase program is what has kept mortgage rates so low for the better part of 2009 and once the Fed stops purchasing MBSs  the demand will drop.  Since the supply of MBSs is still high, this will have a downward affect […]

At the end of November, the United States Treasury Department released new rules attempting to encourage banks to speed up short sales.  The rules create a uniform process and documents that all banks must use as well as provide cash incentives to banks willing to participate.  The new rules are starting to work…I actually had […]

I just came from a closing that almost didn’t happen because of the strict lending requirements lenders have.  Mind you, the Buyer has been under contract on a regular sale for over a month and was putting 40% down.  Last night the bank decided it needed more information on the source of his original $5,000 […]