Friday, December 11, 2009

Interest Rates...and NO PAYMENTS FOR A YEAR

Have you ever seen interest rates at low as 4%! I have NOT!
With the market the way it is, the interest rates as low as 4%-and the government giving away enough money to cover mortage payments for the next 6 months OR MORE...ask yourself one question:

Why would I NOT buy today?

Think about it. Did you hear what I said, "the government is giving you enough money to cover the first 6 months of payments OR MORE". I know that sounds wrong and not what they are saying, but let me explain.

If you purchase a house up to $250,000; the total payment (principal and interest) will be approx. $1305 a month. * The government is giving $8000 CASH, not tax credit, to all new home buyers- or people who have not owned a home in the past 3 years. $1305 a month times 6 months is only $7800.. still less than what they are giving you- simply for purchasing a house and increasing the economy.

Of course if you purchase a house for $80,000; with the current interest (4.75% for 30 years) your monthly payment (principal and interest) is $420. With $8000 that is enough money to cover payments for OVER 18 MONTHS!

I might as well be saying.. NO PAYMENTS FOR THE NEXT YEAR!

*(payments calculated on current interest rates of 4.75% for 30 years. Payments do not include taxes, which vary from city to city)

Monday, December 7, 2009

Dallas-Fort Worth preowned home sales skyrocket as homebuyers take advatnage of tax credit

The North Texas housing market came roaring back in NOVEMBER.

Pre-owned home sales rose by 31% last month from a year ago -- one of the biggest such increases on record.

And Median home sales price were up 5%.

The big jump in residential transactions came as large numbers of homebuyers rushed to take advantage of the federal home buying tax credit, which has been extended.

Real Estate agents in October sol almost 5, 500 preowned home through their MLS, according to statistices relesased MOnday by the NOrth Texasd Residential Information Systems and the Real Estate Center at TX A&M University.

November's robust sales activity is the latest in a string of recent indicatiors, which show the atht North Texas home mareket has bottomed out and is turning the corner.

November was the second consecutive month that Dallas-Fort Worth area home sales rose from the previous year -- ending more than a year of consecutive declines.

Sales in North Dallas neighborhoods rose 48%.

By Steve Brown...Dallas Morning NEWS