(Click The Play Button To Listen To The Podcast)
Good News Friday Podcast Week 25(4 Minutes and 42 Seconds)
Hello and Welcome back to Good News Friday! Today is Friday January 22nd, 2010. My name is Bruce Karasik.
I thought I would take a few minutes this week to discuss what is happening in the local real estate market and what we expect to happen later this year. Due to a shortage of supply of homes on the market, combined with historic low interest rates and large government tax credits being offered by the Federal Government, homes in our local area under $600,000 are selling in a matter of days with multiple offers. In many areas, people who purchased homes in 2009 in the lower to middle price range have already increased their equity. Because of our reputation, experience, and negotiating skills, we have had tremendous success by getting our clients into homes in the past year despite numerous buyers competing for the homes and multiple offers. Many of our clients have already made money on their homes. If you are a buyer and looking to purchase a home there has never been a better time. Homes being sold over $1,000,000 are selling at tremendous discounts off the original list price. So if you are a move-up buyer, this is a golden opportunity. If you are a first time buyer this is also a golden opportunity. If you need to refinance your home this could also be a golden opportunity. However, our current Real Estate climate of low interest rates, low prices, and government tax credits are about to change.
As I warned in my podcast of a few weeks ago, Amy Crews Cutts- The Deputy Chief Economist of Freddie Mac has said the following, “The Federal Reserve’s scheduled phase downs of it’s multi-billion dollar of mortgage backed securities, plus expected moderate growth in the economy will force interest rate at least a percentage point higher in 2010.” This means higher interest rates are ahead making a potential buyers monthly mortgage payment sure to rise. The Federal Tax credits are expiring shortly as well. Remember to qualify for the credits you must be in escrow no later than April 30th of this year. So there is no time to waste, now may be best opportunity to act so as to not miss out on these opportunities.
Now more than ever it is important to contact a real professional to get the best advice. So call me or email and I will be happy to talk with you about the most current information about the Real Estate and Mortgage market and how it can affect you. Our goal is to save you money when you buy your home this year or refinance at the new lower rates.
The key to success is having the right advisors and consultants in place so you can have the right strategy. As your trusted Real Estate consultants and advisors, we at the Karasik Team work in our unique ability. My unique ability is consulting, negotiating and overseeing the transaction details. We take a customized approach and enable our clients to make informed decisions to accumulate wealth through Real Estate. In addition, we at Karasik and Associates, Mortgage Consultants, can help you come up with a strategy to determine whether this is the right time for you to buy your first home or to refinance your existing home.
We continue to believe that homeownership will remain the best avenue for American families to secure their financial future. I look forward to our continuing dialog and we invite your feedback. Please feel free to email me at Bruce@TheKarasikTeam.com, call me at my office at 805-267-0366, or you can post your responses on our blog at www.GoodNewsFriday.com.
The Good News Friday Podcast brings you good news and positive developments in the Real Estate Market, Mortgage Market, in our economy and our country. If you miss any podcast, we have archived all or our past shows so you can listen to them at any time by going to www.goodnewsfriday.com.
So we do have some good news to be grateful for. And so, my friends, I wish you and your families a Happy, a Healthy, and Prosperous week. And that’s it for now. I’ll see you back here next week for another episode of Good News Friday!
