|
|
Here was the report from Xinnix last Friday:
It was an exciting week for mortgage markets! Tuesday, the Fed and the Treasury announced a new program to purchase up to $500 billion in mortgage-backed securities (MBS), and mortgage rates dropped sharply after the news. The MBS purchases are expected to take place over the next few months. The goal of the new program is to lower mortgage rates, and the immediate reaction certainly was a big step in the right direction, as mortgage rates moved significantly lower during the week.
According to the Wall Street Journal, consumers around the country responded quickly to act on the drop in mortgage rates. In many cases, call volumes during the week were far above their recent levels as homeowners rush to refinance.
I can definitely attest to this as we have seen some clients are able to qualify for rates as low as 5.25% with 0 points!! So if you're on the fence, now is the time to act.
|
||||
 |
 |
|||
 |
|
A Thanksgiving Treat from the Fed Looks like the Fed said - "Happy Thanksgiving" - Mortgage Rates Plunge If you have been on the fence about buying or refinancing a home, now is the time to act. Interest rates are extremely low and home prices in some areas are at 2003-2004 levels. Add to that recent declines in energy prices and lower consumer interest rates, and you have a great holiday recipe for success, but only if you give us a call. Don't wait until next week. Call us today and get pre-approved. Rates have already been very volatile and this opportunity might not survive the holidays. In many markets, falling prices are bringing out buyers that have been waiting to buy and they are scooping up both bargains and hot properties. Let me offer you some pointers to help you negotiate a great deal and lower your costs to close. Whether you are looking to buy or refinance, call me today. I'm here to help. If we don't speak before Thursday, however, I wish everyone a happy & safe long weekend. |
The other day I read an article on MSN about why we should buy a home. (Home, the mother of all tax shelters)
At the end of the article it brought out a fantastic point that every realtor & mortgage EVERYONE should know!! It is that the IRS has changed the rules & the rules make it advantageous for all of us to utilize our homes as home offices. The benefits are HUGE. Here's some of the info from the article:
Home offices
Here's where, in my opinion, the IRS actually crossed the line. But since it was in favor of the taxpayer, I'm not going to complain.
Let's say you use 20% of your house as a home office and you deduct depreciation and expenses for working in that part of the house.In the past, when you sold your house, 20% of the gain wouldn't qualify for the exclusion because that 20% wasn't used as a "residence." It was used exclusively as your office.
Now, the IRS doesn't care even if you used your home 90% for business as a home office. You can now exclude as much as 100% of your gain, up to the $250,000/$500,000 limit.
You're going to be subject to tax only on the gain to the extent of depreciation taken on the building since May 7, 1997. But that's taxed only at a rate no more than 25%.
Wow! That means, if you qualify, there's no reason not to claim a home office. And I know there are any numbers of people who work out of their homes who don't claim home offices now.
Dorothy was right: "There's no place like home." At least for now.
Mortgage Concierge Service - need I explain more? We will help you to appreciate what you are missing in the real estate world. Please check us out on the web at www.joegonzalez.net!!
Joe has been servicing the Lehigh Valley for over 12 years. The principle with which he measures his success in the service area is one he likes to call the "WOW Factor". Joe's sole objective as a lending professional is to "WOW" his clients with superb service and professionalism. This level of commitment has made Joe the top loan executive in the Lehigh Valley. Whether a million dollar loan or a first time home buyer, more Realtors, financial planners, borrowers and other business professionals bring their home financing needs to Joe than anyone else in the Valley. They come to Joe for one main reason... Results!
Joe enjoys a variety of outdoor activities, fishing being his favorite. Traveling to locations such as New Jersey, Upstate New York, Florida, Puerto Rico, and The Dominican Republic a few times a year allows Joe to recharge all the energy he spends on making sure his clients are well taken care of. As an avid fisherman, Joe enjoys fighting for a good catch which includes Goliath Grouper and Mahi-Mahi just to name a couple. Joe's latest BIG catch is none other than a 365 pound Goliath Grouper that he caught while fishing with Captain Ben Chancey from the Florida TV show "Chew on This.
Outdoor sports such as basketball, hiking, and snowboarding always have a place in Joe's busy schedule. Among Joe's favorite hiking spots is the rainforest El Yunque in Puerto Rico. On all of his trips, what Joe enjoys the most is making new friends. Coincidently, making new friends is at the heart of how Joe conducts his business. With that in mind, for your next real estate transaction call Joe and let friends take care of it!
With an experienced team who understands the home buying process, we specialize in the purchase market for 1st time homebuyer's. With FHA, VA & My Community programs, we can help get you or your clients approved quickly & efficiently. We have someone on staff available to answer questions even during the weekends.
"After working with numerous mortgage professionals I found Joe Gonzalez. Now I do not even consider allowing anyone else assist my clients with their mortgage needs. Joe is my mortgage broker of choice not only for my clients but for all my personal mortgage needs. I recommend Joe Gonzalez to everyone!"
Don Wenner- Real Estate Agent
Keller Williams Realty & Purchase Client
"It has been my pleasure to have been working with Joe Gonzalez for many years. Whether in the office or online, Joe's concerned caring way is very evident. Regardless of size of loan, every client receives the same professional treatment. This, coupled with a very competent support staff, make Joe Gonzalez one of the finest loan officers in the Lehigh Valley. I will continue to recommend him to my clients."
Charles & Susan Caliman- Owners
Greater Lehigh Valley Real Estate &
Purchase/Refinance Client
"I'd like to express my thanks for the superior job you and your staff have done and continue to do for me. I am critical until proven otherwise, and you have done exactly that!"
Scott & Tina Hanuschak- Owners
Vallos Bakery & Purchase/ Refinance Clients
"Looking for a new house was the last thing on our minds in August of 2005. We had just bought a dream house the year before that we were remodeling. It was in New Orleans. We arrived in Allentown in September in shock, with our pets and a suitcase of clothes to stay with a kind friend. We hoped we'd be able to return home. By April 2006 we knew that wasn't going to be possible; that we'd have to look for a new home where we'd landed. But we weren't very energetic or enthusiastic about the process. In all the bad luck of that time, our good luck was finding Joe Gonzalez! Joe helped us make up our minds, get the right house at the very best rate, and deal with the difficulty of not having packed the right papers for house-buying when we evacuated hours before Katrina hit! He understood, and made all the others involved in the complicated house-buying process understand that we didn't have and couldn't get the papers required (not to mention not having much energy for hassle!). He found other ways to get the information needed. More than just talk, Joe Gonzalez did things that made our transition as smooth as it could possibly be. We are well-settled now. Happy to be in the northeast. Happy to be in our new home. And very happy to recommend Joe Gonzalez as the smartest, most competent and compassionate businessman we've ever had the pleasure to work with."
Dr. Sandy Karp & Bobbie Geary
Hurricane Katrina Victims & Purchase Clients
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2008 ActiveRain Corp. All Rights Reserved
