My prayers go out to the good folks in Thomasville, GA. I heard they had a pretty brutal tornado last week. Thank God, no one was hurt, but a lot of damage done.
Below is a link to a website that gives information about the stimulus bill for first time homebuyers.
A different part of the stimulus bill has to do with higher priced financing.
Below is a statement from Brian Robinson, a mortgage consultant for Wells Fargo.
"While details are sketchy - we will expect to get some clarity soon as to an additional tier of conforming loan amounts which had been first established in 2008. This tier of home loans are those greater than $417,000, and with a maximum that depends on the area, but is not greater than $729,750. These loans would be eligible for rates that are slightly higher than conforming loan rates, but less expensive than the standard "jumbo" loan rates. "
This is good news for those wanting to financing a large amount.
Fixed rates for 30 year notes have been around 5-5.4%. Jumbo rates have been 6.2-6.7%
In the real estate world of Mexico Beach, St. Joe Beach, 2 properties have gone under contract since last Monday. One closing of a gulf front condo (all great deals!!!).
We are all showing lots and lots of property. Offers are being made, usually pretty low offers, but you have to start somewhere!!!!
There are lots of buyers out there. I find it encouraging that we are showing so many properties----if you were to only listen to the news you would assume everyone is destitute!!!!
Everyone wants a good deal. What is a good deal? In my opinion, you have to include a few things to determine a good deal. #1 is fair market value. Your realtor can find all comparable sales in the area to help determine that number. However, that is not the only factor. #2. Does it suit your needs? If its a property that you are going to use and enjoy for the next 5 years, then that adds value as well! #3. Is it affordable for you? If you can afford it and it meets criteria 1 and 2, then I think its a good deal.
Mexico Beach is alive and well! There are at least 3 new homes going up in Mexico Beach alone (I'm not including spec homes that are being built just to sell).
I'm working on updating the foreclosure and short sale list. I am now including Port St. Joe and Cape San Blas.
If you are interested just send me a quick email and I'll get it out to you as soon as I am finished (hopefully later today!)
Have an awesome week! Please check out my website calendar of local events. You can also search for all properties on the market in this area. http://www.maryblackburn.com/
Don't hesitate to call me if you have questions about any properties you see whether they are my listings or not!!