Real Estate Information Archive


Displaying blog entries 1-5 of 5


by Sharianne Daily

Our real estate market appears to be back in a strong way on those listings under $250,000.  Lots of multiple offers, anxious first time homeowners and the investors.  

Jan 2011 Mortgage Rates 4.76% vs 5.03% in 2010

by Sharianne Daily

CHART: Rates Since 1971

Mortgage Rates still at Historic LOWS!  Thank you to Susie Kiesling with Premier Mortgage for this informative chart.

Reverse Mortgages are popular

by Sharianne Daily

3 Reasons Why Reverse Mortgages Are Popular
Recent legislation and changes in the marketplace are increasing the use of reverse mortgages. Here are three factors that make reverse mortgages an improved retirement-planning tool.

1. Fees are lower. The government with support from lenders has revised how reverse mortgages are structured.

2. Loans are more flexible. New loans let borrowers take money as they need it instead of all at once.

3. Selling isn't always feasible. Reverse mortgages generally don’t pay as much as selling a house outright, but these days selling a house can be very difficult.

Source:, Alyssa Abkowitz (11/01/2010)

Interest Rates vs. Tax Credit

by Sharianne Daily

Just a few months ago the buzz over first time home buying was the $8,000 government assisted tax-credit. However, with the current interest rates reaching record lows at 4.32%, the low interest rates are proving to be more of a money saver for buyers who are looking to lock in these rates for the long term.

Today’s homebuyers have a greater opportunity to save on interest over the long-term than those buyers that took advantage of the $8,000 homebuyer tax-credit. First-time homebuyers who purchased any kind of home—new or resale—were eligible for the tax-credit, which expired April 30, 2010. Here is a comparison of costs between a buyer taking advantage of the tax-credit and a buyer purchasing in mid August when the interest rates were 4.42%.

A qualified first time homebuyer purchasing a home for $200,000 with 20% down would have a loan amount of $160,000. At the time of the tax-credit for a 30-year fixed loan, interest rates fluctuated around 5.21%. Based on these rates the buyer’s monthly payment would be around $880 per month. After 30 years (the term of the loan), the buyer would have paid $156,644 in interest. A buyer electing to take advantage of the 4.42% interest rate in August, with the same loan term and 20% down payment would have a lower monthly payment at $803. At the end of the loan term, this buyer would have paid $129,119 in interest.

After recouping the $8,000 tax-credit (which was not received by the buyer in August), the buyer would have paid $19,525 less in interest over the 30-year loan term than the buyer receiving the tax-credit.

What does this tell us? Right now is an optimal time to buy a home.

How LOW can they go?

by Sharianne Daily

Purchase Interest Rates on September 3, 2010

2.75% CONV 5/1 ARM (five year fixed adjusts yr 6)

3.625% CONV. 15 YR  (15 yr. amortization fixed rate)

4.25% CONV 30 YR  (30 yr. amortization fixed interest rate)

4.25% FHA 30 YR (30 yr. amortization fixed interest rate)

Remember, every percent drop in interest rates increases your buying power by 10%!

A new thought process for Buyers - instead of buying for the sole purpose of appreciation, they will buy a home because it meets the needs of their family, it is in the right price range, they like the street, they like the school district,  it is convenient to work. While they won’t ignore the potential for appreciation, it won’t be the driving force.   


Displaying blog entries 1-5 of 5