Good News Friday Podcast
Week 5
January 18, 2008
"Who's Happy in Today's Real Estate Market?" Part 3 in a 4 Part Series.
A Golden Opportunity to Refinance!
(5 min and 9 sec.)
(Click The Play Button Above To Listen To The Podcast.)
Hello and Welcome to Good News Friday! Today is Friday January 18th 2008. My name is Bruce Karasik.
Each week we bring you good news and positive developments in the Real Estate Market, Mortgage Market, in our economy and our country. In future shows, you will be hearing interviews with key people in the industry from real estate and mortgage experts to economists and other well known business leaders.
In every Real Estate market, there are always those groups of people who find a way to benefit, thrive and prosper. No matter if Real Estate is up or down, or if interest rates are up or down, they act in way that is of benefit to them.
Last week in Part 2 of our 4 part series on who is happy in today’s Real Estate Market we talked about Investors and why they are benefiting and profiting today. If you have not already done so, I invite you to go to www.GoodNewsFriday.com and listen. In fact, if you miss any podcast, we have archived all or our past shows so you can listen to them at any time. Today, in part 3 of our 4 part series I will talk you today about another happy group. This group is homeowners who want to refinance their home. Why are these borrowers so happy in today’s market?
If you have purchased your home in the last 5 years, you most likely have built up a great deal of equity. And even though, prices have adjusted downward from 5-10% in the last year, there are a great many of you who still have retained the vast majority of the gains that you have made over the past 5 years. The good news is that interest rates have dropped drastically in the last 6 months. The Fed has lowered the discount rate and for other economic reasons, long term rates have also dropped. What does that mean to you the homeowner?
First if you bought your home with a short term fixed mortgage, or if you now have an adjustable mortgage, now is the time to consider converting that short term loan or adjustable mortgage to a long term fixed loan. With the addition of adjustable and short term fixed loans in the last several years in the mortgage market, many people were able to buy homes that could otherwise not do so. And by buying their home, they have accumulated a great deal of equity. It is the perfect time to consider fixing your interest rate and protecting your investment. A mortgage is like any other investment. It must be watched and evaluated yearly to make sure you are getting the best and most appropriate program and rate for you individual needs.
THE GOOD NEWS is that the banks are lending, and rates are very, very low. They have recently dropped considerately. For some of you this may be a window of opportunity. With so much uncertainty in today market, a strongly urge you to analyze your position and to act. I am a firm believer that when the numbers and strategy are in line in is important to act right away because things can change very quickly.
But the key to success again is having the right advisors and consultants in place so they can have the right strategy. As your trusted 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. 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 refinance your home.
So group number, three of the four happy groups in today’s Real Estate Market, are borrowers who have adjustable for short term fixed rates and want to refinance their homes and fix their rate. We invite you to join us next week when I will talk with you about another happy group in today’s Real Estate Market.
We continue to believe that homeownership will remain to be the best avenue for American families to secure their financial future. I look forward 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.
So we do have some good news to be grateful for. And so, my friends, I wish you and your families a Happy, 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!
