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| Aug 12 2010, 11:11 AM EDT | ScottHedges | 88 words added, 669 words deleted |
| Jul 25 2010, 9:09 AM EDT | ScottHedges | 1 photo added |
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Mortgage rates fall near record lows !!
By Alan Zibel - Associated Press Writer Friday, May 28, 2010: Washington — Turmoil in the stock market and the European debt crisis are making life easier for American homebuyers and families looking to refinance: Mortgage rates are inching closer to a record low. The window of opportunity may close soon. Home loan rates will rise if investors grow more confident and shift money out of the safety of government bonds, which influence mortgage rates. For now, though, rates are tantalizingly low. The average 30-year fixed-rate loan sank to 4.78 percent this week, the lowest this year and barely above the record of 4.71 percent set in December. And 15-year loans are at their lowest rates in two decades. “Strike now,” suggested Greg McBride, senior financial analyst at Bankrate.com. Some homeowners are doing just that. Applications to refinance surged this week to the highest level in seven months, the Mortgage Bankers Association said. Anxiety over the European crisis has caused global investors to snap up Treasury bonds, which they view as much safer than other investments. Treasury yields have fallen as a result, taking mortgage rates down, too. When the crisis eases, and especially if the American economy recovery stays on track, expect investors to move out of bonds and back into stocks. That would make mortgages more expensive. “If the economy finally really shows sustained improvement, rates are definitely going to go up,” said Fred Chamberlin, a consultant with Alpine Mortgage Planning in Eugene, Ore. He suggests that homeowners looking to refinance move fast and not hold out for even lower rates. “If you want the bottom, the only way you’re going to know it is when you’ve missed it,” Chamberlin said. Refinancing isn’t right for everyone who qualifies. It typically costs several thousand dollars in fees. Experts suggest calculating how long it will take to recover those fees with the lower loan rate. As cheap as mortgages are these days, the number of loans being taken out to buy homes remains at its lowest point in more than 13 years. One reason is that a special tax credit for homebuyers expired last month. Many people had rushed to sign contracts by then. Another obstacle: trouble qualifying for a mortgage. Borrowers need solid credit and a down payment of at least 3.5 percent. Banks tightened lending standards after millions of borrowers fell into default and foreclosure during the housing bust during 2007-2008. “They’re really looking with a magnifying glass,” said Steve Mevorah, a loan officer with Icon Mortgage Inc. in Las Vegas. “They’re trying to make sure that they are flawless loans.” Analysts had expected mortgage rates to rise when the government ended a program designed to bolster the housing market. Instead, they fell because of fears that Greece would default on its debt. Also keeping rates low is the government’s decision last year to provide unlimited support through 2012 for Freddie Mac and Fannie Mae, which buy mortgages and package them into securities and help keep rates low. Investors “are very comfortable with the guarantee that is in place,” notes Credit Suisse mortgage strategist Mahesh Swaminathan. “That, for all practical purposes, is very strong government support.” Since the financial crisis ended, mortgages of all types have become more affordable — from the 30-year fixed to adjustable varieties. The premium that borrowers pay to take out “jumbo” loans for more expensive homes has dropped by a full percentage point since late 2008, to just 0.8 percent, for instance.OWNER OCCUPANT homeownershomeowners/buyer WANTEDsought for duplex units and homes in Lawrence!
307-309 Washington, Baldwin City, KS - 2 bedroom, 2 bath, 1 car slab duplex units FOR SALE next to Schools! QuietNEW withROOFS, PAINT and ready to move-into Spring 2011!
great location in NE Baldwin near Jr High and High School, parks and downtown Baldwin. AffordableVery affordable housing and/or investment
property! Priced @ aprox $80,000 per unit. CALL MAKESCOTT ANto TOUR and/or MAKE OFFER! CALL SCOTT 785-312-727-3259 FSBO- Assist*
Commission to agent only 2.5%!2.5%, so no price inflation here!
The fact is many people don't succeed in selling real estate by Owner for the most part because
they don't have an experienced CLOSER or access to a professional marketer or third party facilitator
(real estate agent/broker etc.) to ASSIST with getting the deal done at a fair price! Many people feel as
if the only option they have is the expensive and too traditional Realtor charging 6-7% to list & market.
With a few hours of professional assistance FREE from a "local expert" up-front, you can make sure
you reduce your risks, protect your interests, avoid costly problems and SAVE MONEY! Scott's goal
is to keep both parties focused on the transaction with goal of getting the deal done and all for less than
3% total commission paid by the seller. Scott usually works as a Transaction Broker. See disclosures.
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Our continuous education plan includes earning the CPM designation (Certified Property Manager)
and ARM (Accredited Residential Manager. Scott Hedges has been a successful real estate broker for over 20 years!
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FOR SALE NOW ....
303-307 Washington, Baldwin City, KS - each duplex unit has 2 good-sized bedrooms, 2 baths,
1 car garage, plus bedroom slider to back patio and fully equipped kitchen. (refrig, stove, microwave, d/w)
Backyards can be fenced by new owners. Some units have washer/dryer included! Units priced by owner-assist
@ $75,000$79,000 each through Scott Hedges @ 2.5% commission. Owner is self-represented.
Scott Hedges is a "transaction broker" in the sale of these units.
Purchase the whole duplex for $150,000.$155,000. CALL SCOTT HEDGES for a tour or to view other property!
Call Scott today @ (785) 727-3259!
Douglas-County.com for tax assessed value or request comparables. Aprox 900950 sq ft.
Visual tours ~ pending soon on 4 Duplex units for sale Spring 2009!
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4411 Gretchen Court; SW Lawrence, KS: Immaculate 5 bedroom, 2.5 bath home with basement &
Summer 2010 possession! Cul-de-sac location just 2 blocks North of SW Jr High School! This family
home features 2 living areas - both with fireplaces, large fully equipped kitchen with counter/bar, sunken
family room, formal dining and very good overall square footage @ aprox 2300. Rear covered patio in back
in great for barbeque (screened-in) and fenced backyard. All five bedrooms are upstairs with large laundry
room! Basement is unfinished but very clean provided lots of storage space! TENANTS NOW OCCUPY this
property, but their lease ends June-July 30th, 2010. You must call Scott Hedges @ 785-727-3259785-856-1818 to set an
appt to tour in 2010!FALL 2010 or SPRING 2011. ! Priced in the $245k range! Scott Hedges is the property
manager and TransactionDiscount *Discount Broker handling the sale on behalf of owners.owners
More pictures upon request!
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1413-A Lawrence Ave - Central-West Lawrence: FSBO list price = $132,000 range with many extras! MAKE AN OFFER!
New rear and side-yard drainage systems installed plus serene backyard with deck and trees! Wonderful 3 bedroom town home just
a couple blocks North of Bob Billings Parkway on Lawrence Ave. Currently leased until Spring 2010,2011, sobut ifthe youwouldtenants bedo annot owner-occuppantplan ofon
buying this propertyhome. thenSPRING the2011 closingOFFERS datepresented wouldto beout-of-state negotiatedowner. afterCall for March!detailed information!
Call Scott Hedges (FSBO-Assist Broker) for more information! (785) 727-3259 or 856-1818.
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1471 Legends Drive; West Lawrence in established subdivision just West of G.C.S.A.A. and new schools! Manager/broker to handle all offers / sale.
For lease or sale. Must see this interior to appreciate the floor-plan and other nice touches! 4 bedrooms, 3.5 baths
(all ceramic tile on floors and showers), large 2 car garage, 2 decks overlooking valley - mowing service can be provided
& maintenance free & just wonderful! INVESTOR ONLY - LEASED UNTIL 07-31-2011.07-31-2011, but POSSIBLE SUMMER MOVE-IN for
a new owner! OWNER financing a possibility, however buyer must obtain new loan by 2012.
Fsbo-Assist price = $220,000 range; Call Scott about getting financing in the Lawrence area! (785-727-3295)(785) 856-1818.
More pic's upon request to qualified buyers!
Many of these properties are leased (never vacant) and are also for sale! Make an offer!
1413-A Lawrence Ave, Lawrence, KS - unique 3 bedroom town home with 2 full bath areas, 2-levels, 2-car
over-sized garage + large deck that back to wooded area! Living room has brick fireplace and vaulted
ceilings. Newly painted interior! Small Association cares and pays for all exterior maintenance (mow and
snow removal etc). *Priced @ $136,000$132,000. Owner is self-represented. *New drainage solution being installed
this Spring sometime! Call Scott 312-0400!
Front pic of unit from Lawrence Ave.
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2414 Overlook Circle, Lawrence, KS - Great neighborhood, 3 bedroom, 2.5 bath split-level home, 2-car
garage, fireplace + large family room in finished basement! Plus, a large fenced yard & storage shed. Large
fully equipped kitchen, bar counter and formal dining room. Two living areas and over 2000 sq feet!
Priced @ $159,000 by owner seeking investor/buyer. Property is leased until July 2010.
Recently painted and updated! Bargain pricing on this spacious 3 bedroom on large fenced lot.
Please drive by or call Scott if you are pre-qualified to purchase and want to view this fine home!
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Ask Scott about other homes FOR SALE while leased:leased:
1471 Legends Drive - 2004 built gem of a town home in SW Lawrence! 4 bedrooms, 3.5 baths, finishedwalkout basement, fireplace, 2 decks, great views, safe and quiet location, 2 car garage, ceramic tile, stainless steel appliances and wonderful kitchen ...$220,000 call Scott @ 785-727-3259!
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