My New Blog

Hi everyone,

Many of you are considering refinancing and the Treasury Dept. just made that a little easier last week in this declined market. The cap of 105% of the loan to value ratio was lifted to 125% last week. Fannie Mae and Freddie Mac also agreed to reduce processing fees for those who select a 25 year loan instead of the standard 30 years. The rates just dropped again recently too.

Let me know if I can help find a good lender or help in any other way.

Hope everone had a great 4th!

Carol

Hi,

There are currently 76 active short sales and 20 foreclosures on the market currently from Corolla to Nags Head.  There are some fantastic deals out there with homes like the 7 bedroom short sale across from the ocean in Southern Shores for  680,000 that started out at 1.5 million and the foreclosure in Whalehead with a tax value of 771,000 for 409,000.  There are definitely more folks coming into the market to take a look.

The hard part is a prequal letter or Proof of Funds is a MUST now with any offer to be considered. If you have the 20% to put down and good credit/ work history - now is the time to talk to a lender and be ready to jump on a great deal while the interest rates are good! Check out the financing area of my website for some good options in our area and give my a call or an email if you need some great option home deals in a particular area and price range.

Take advantage of one of the best buyer markets in years!

Have a great weekend!

Carol