From Vic Kaspar, lead broker at the Kaspar Team and RE/MAX Executives:
Here's great news for First Time Home Buyers in the Raleigh Real Estate market: Tax Credit of up to $7,500 off Federal Taxes for anyone who buys a home from April 9th, 2008, and July 1st, 2009! Imagion the rush this November and December to by Cary Real Estate, Raleigh Real Estate, Apex Real Estate, the entire Triangle, to get back $7,500 in a few months as added tax money back! A check from the IRS back to you! You can buy a lot of furniture, appliances, and household items with the Federal Tax Credit money.
The House passed the bill this Wednesday, July 23rd, 2008, and the Senate is expected to pass the proposal in coming days, sending it to President Bush. The president on Wednesday dropped a veto threat over a portion of the bill.
Lawrence Yun, chief economist for the Realtors, said that the housing rescue bill should play a major role in helping the housing market to rebound. He said an especially significant feature is a tax break worth up to $7,500 for first-time home buyers who purchase between April 9 of this year and July 1, 2009, as reported on www.kasparteam.com blog.
Yun estimated that up to 3 million first-time home buyers could qualify for that tax break, providing a significant boost to sales at a critical time. That 3 Million could mean 60,000 to 100,000 additional sales in North Carolina alone. And since Raleigh, Durham, Cary are the 2nd largest market in North Carolina, this could translate into an additional 30,000 plus homes sold in Raleigh Real Estate alone if this federal bill is signed by President Bush this month.
"I think we are very near to the end of the housing downturn," Yun said.
Friday, July 25, 2008
Thursday, July 17, 2008
WORRIED? Freddie Mac and Fannie May - Don't Be!
"The only thing we need to fear is fear itself". This was said a long time ago when this country was in much worse shape then it is in now.
We do not have the ability to predict the future, but we do have information in front of us in order to make educated decisions about what our next moves will be. Personally with the information that I have read and statements from the CEO of Fannie Mae I feel more confident that the government is being proactive instead of reactive in this housing correction. The statement attached below clearly says that Fannie Mae and Freddie Mac continue to hold more than adequate capital reserves.
The reality is you purchase a stock when prices are down. You should be purchasing homes when sellers are more willing to negotiate. This is good time to evaluate your credit standings, rid your self of high interest credit card debt, and set a stable foundation so you can still focus on future financial stability.
Please contact me for a FREE Mortgage Evaluation.
Jeff Forman, D N J Mortgage, Raleigh, NC 919-337-5485
The following are articles and statements in regards to Fannie Mae and Freddie Mac current standings:
WASHINGTON (AP) - The U.S. Treasury and the Federal Reserve announced steps Sunday to shore up mortgage giants Fannie Mae (FNM) and Freddie Mac. Fannie Mae and Freddie Mac either hold or back $5.3 trillion of mortgage debt. That's about half the outstanding mortgages in the United States.
Secretary Henry Paulson said the government is planning to expand its current line of credit to the two companies should they need to tap it and Treasury could buy equity capital in the companies - if needed.
News Release
July 13, 2008
Statement by Daniel H. Mudd, President and CEO
Fannie Mae appreciates today's announcements and the expressions of support for the GSEs as shareholder-owned companies that play a critical role in the U.S. housing finance system. We are grateful for the leadership of Secretary Paulson and Chairman Bernanke. We also look forward to working with Treasury, OFHEO and Congress on swift passage of the new legislative proposals, as well as the important initiatives underway to assist homeowners and help restore stability to the housing market. We continue to hold more than adequate capital reserves and maintain access to liquidity from the capital markets. Given the market turmoil, having options to access provisional sources of liquidity if needed will help to strengthen overall confidence in the market. We will continue to do our part to provide liquidity, stability and affordability to the housing market now and in the future.
====
The above Blog from Kaspar Team Preferred Lender for Cary, Raleigh and Durham area Real Estate. Introducing Jeff Forman, of DNJ Mortgage, located in Raleigh,near the RBC Center, convenient to Cary, Durham, Raleigh, Wake Forest, Garner and points East.
DNJ and the Kaspar Team work close together to aquire the best rates and terms for buyers of Raleigh and Cary area Real Estate.
Jeff Forman (919) 337-5485 or Vic Kaspar, Kaspar Team, RE/MAX (919) 609-6999 Vic@KasparTeam.com
We do not have the ability to predict the future, but we do have information in front of us in order to make educated decisions about what our next moves will be. Personally with the information that I have read and statements from the CEO of Fannie Mae I feel more confident that the government is being proactive instead of reactive in this housing correction. The statement attached below clearly says that Fannie Mae and Freddie Mac continue to hold more than adequate capital reserves.
The reality is you purchase a stock when prices are down. You should be purchasing homes when sellers are more willing to negotiate. This is good time to evaluate your credit standings, rid your self of high interest credit card debt, and set a stable foundation so you can still focus on future financial stability.
Please contact me for a FREE Mortgage Evaluation.
Jeff Forman, D N J Mortgage, Raleigh, NC 919-337-5485
The following are articles and statements in regards to Fannie Mae and Freddie Mac current standings:
WASHINGTON (AP) - The U.S. Treasury and the Federal Reserve announced steps Sunday to shore up mortgage giants Fannie Mae (FNM) and Freddie Mac. Fannie Mae and Freddie Mac either hold or back $5.3 trillion of mortgage debt. That's about half the outstanding mortgages in the United States.
Secretary Henry Paulson said the government is planning to expand its current line of credit to the two companies should they need to tap it and Treasury could buy equity capital in the companies - if needed.
News Release
July 13, 2008
Statement by Daniel H. Mudd, President and CEO
Fannie Mae appreciates today's announcements and the expressions of support for the GSEs as shareholder-owned companies that play a critical role in the U.S. housing finance system. We are grateful for the leadership of Secretary Paulson and Chairman Bernanke. We also look forward to working with Treasury, OFHEO and Congress on swift passage of the new legislative proposals, as well as the important initiatives underway to assist homeowners and help restore stability to the housing market. We continue to hold more than adequate capital reserves and maintain access to liquidity from the capital markets. Given the market turmoil, having options to access provisional sources of liquidity if needed will help to strengthen overall confidence in the market. We will continue to do our part to provide liquidity, stability and affordability to the housing market now and in the future.
====
The above Blog from Kaspar Team Preferred Lender for Cary, Raleigh and Durham area Real Estate. Introducing Jeff Forman, of DNJ Mortgage, located in Raleigh,near the RBC Center, convenient to Cary, Durham, Raleigh, Wake Forest, Garner and points East.
DNJ and the Kaspar Team work close together to aquire the best rates and terms for buyers of Raleigh and Cary area Real Estate.
Jeff Forman
Wednesday, July 9, 2008
New Lending Rules will have big impact on you sometime!
New Lending Rules will have big impact on you sometime!
Wow, here's the fallout from the 'so called' Sub Prime lending mess:
The Federal Government is going to issue broad rules covering responsibiity
for lenders to do their 'due dilligence', and mandate that they 'be fair'.
Among the big changes:
You'll have to have the income proof in addition to good credit to buy, no more
'credit only' loans. For sellers, that will mean less buyers for those more
expensive homes, or lower end homes. Homes in the middle will be fine. But
these new rules in Summer and Fall of 2008 from the Federal Government will take buyers out of the market in Raleigh, Durham, Cary, RTP and Wake County Real Estate.
Here's what Federal Reserve Chairman Ben Bernanke has to say about this far reaching
change that will effect Raleigh, Durham Real Estate Buyers and Sellers this Summer and Fall of 2008:
http://apnews.myway.com/article/20080708/D91PMQA80.html
Wow, here's the fallout from the 'so called' Sub Prime lending mess:
The Federal Government is going to issue broad rules covering responsibiity
for lenders to do their 'due dilligence', and mandate that they 'be fair'.
Among the big changes:
You'll have to have the income proof in addition to good credit to buy, no more
'credit only' loans. For sellers, that will mean less buyers for those more
expensive homes, or lower end homes. Homes in the middle will be fine. But
these new rules in Summer and Fall of 2008 from the Federal Government will take buyers out of the market in Raleigh, Durham, Cary, RTP and Wake County Real Estate.
Here's what Federal Reserve Chairman Ben Bernanke has to say about this far reaching
change that will effect Raleigh, Durham Real Estate Buyers and Sellers this Summer and Fall of 2008:
http://apnews.myway.com/article/20080708/D91PMQA80.html
Monday, July 7, 2008
Return of the First Time Home Buyers to Raleigh Real Estate!
Return of the First Time Home Buyers to Raleigh Real Estate!
Guess what? Homes are affordable again for First Time Home Buyers!
Now that the supply v.s. demand law has hit the wall on the supply side, the fall out
is falling prices for smaller homes in Raleigh, Morrisville, Research Triangle Park (RTP) and the Cary and Holly Springs areas filling the a demand for a good deal...or a great deal....and new home builders are leading the way to fill that demand (or desire) from First Time Home Buyers.
Builders in Raleigh area are cutting prices $15,000, $25,000, $40,000 and more. Unlike
a single home owner-seller, a new home builder can take a loss on a few homes to roll
over cash flow, and bingo, advantage: Home Buyer! Interest rates are
still historically low. Homes under $250,000, and especially under $200,000
in the Raleigh, Durham, Cary area are flying off the MLS, usually sold in
30 days or less.
Check out this recent story: http://promo.realestate.yahoo.com/on-the-path-to-a-housing-rebound.html
And to see those lower prices in Raleigh, Cary, RTP and Wake County areas in N.C., go to http://www.kasparteam.com/ for Award Winning Real Estate Coverage
Vic Kaspar
Lead Broker
Kaspar Team
RE/MAX Executives
Voice: (919) 380-0096
Fax & Voice Mail:
(919)-990-3040
Guess what? Homes are affordable again for First Time Home Buyers!
Now that the supply v.s. demand law has hit the wall on the supply side, the fall out
is falling prices for smaller homes in Raleigh, Morrisville, Research Triangle Park (RTP) and the Cary and Holly Springs areas filling the a demand for a good deal...or a great deal....and new home builders are leading the way to fill that demand (or desire) from First Time Home Buyers.
Builders in Raleigh area are cutting prices $15,000, $25,000, $40,000 and more. Unlike
a single home owner-seller, a new home builder can take a loss on a few homes to roll
over cash flow, and bingo, advantage: Home Buyer! Interest rates are
still historically low. Homes under $250,000, and especially under $200,000
in the Raleigh, Durham, Cary area are flying off the MLS, usually sold in
30 days or less.
Check out this recent story: http://promo.realestate.yahoo.com/on-the-path-to-a-housing-rebound.html
And to see those lower prices in Raleigh, Cary, RTP and Wake County areas in N.C., go to http://www.kasparteam.com/ for Award Winning Real Estate Coverage
Vic Kaspar
Lead Broker
Kaspar Team
RE/MAX Executives
Voice: (919) 380-0096
Fax & Voice Mail:
(919)-990-3040
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