Sep 25, 08 by Bill Ness
The recent historic bailout of mortgage giants Fannie Mae and Freddie Mac will likely come as welcome news to many homebuyers and homeowners looking to refinance. Already, interest rates on 30-year fixed mortgages are down as much as three quarters of a point or more from their recent high of around 6.5 percent. As a result, more applicants are entering the home buying pool and those in desperate need of refinancing are finding some relief.
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Sep 11, 08 by Bill Ness
Home financing for active retirees is a complicated process, especially in today's financial environment.
Generally speaking, fixed rate mortgages, or FRMs, are a better option for retirees who are on a single-source fixed income. The decision to get a 30-year or a 15-year FRM depends entirely on the level of that income. A retiree should not have more than 30-35% of his or her monthly income going towards the mortgage payment, as the "other" costs of living can add up quickly, and funds should be kept available for any increases in medication or hospitalization expenses. The fixed rate mortgage helps to prevent the retiree from any "payment shock" in the future which may lead to a situation where he is unable to continue making payments.
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Apr 1, 08 by Bill Ness
Moving is always a stressful time, both physically and psychologically exhausting. Having the right support can make all the difference in the world. If you are moving for the first time in many years or downsizing to a smaller home, assistance from a friendly and compassionate moving professional may be exactly what you need for a smooth transition. From empty nesters moving for the first time in decades, to children who are helping their parents move into smaller homes, apartments, or retirement communities, the personalized services offered by Senior Move Specialists meet the unique needs of any client.
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Mar 25, 08 by Bill Ness
The National Association of Realtors (NAR) reported a 2.9 percent increase in the number of homes sold in February over January's total. The total brings the seasonally adjusted pace of sales to 5.03 million, up from January's rate of 4.89 million. The news marks the first month-over-month rise since July 2007. "These are signs that housing's problems are being addressed, but I wouldn't break out the champagne yet," said Northern Trust chief economist Paul Kasriel. "We still have a ways to go."
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Mar 17, 08 by Bill Ness
Anyone watching the real estate market over the last several years knows that the media has not exactly been painting a very promising picture on the thought of home ownership. With a real estate market that has seen its worst performance in several decades, this certainly comes as no surprise. A recent article on Time.com, however, considers this idea: ignore the headlines. With the current depressed real estate market, now may present some of the best home buying opportunities people will see for a while.
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