Shelli Dore’s Real Estate Blog

Archive for March 2009

By Elizabeth Razzi | Washington Post

Normally, when borrowers flood lenders with calls asking about refinancing, that extra demand helps nudge interest rates up a bit, cooling the refinance rush. With lenders swamped with calls from borrowers hoping to get in on the government-backed no-equity refinance program launched last week, should you be concerned that rates will shoot up before you apply?

In a word, no. Rates on 30-year fixed mortgages should remain around 5 percent, where they’ve lingered for weeks, because the Federal Reserve is laboring hard to keep them there.

Orawin Velz, an economic forecaster with the Mortgage Bankers Association, pointed out that the Fed is committing $500 billion to the purchase of mortgage bonds from Fannie Mae and Freddie Mac. The idea is to keep demand for these securities up so interest rates stay low.

Fed action is not the only thing that affects interest rates–demand from foreign investors for these bonds is influential as well. But for the first half of this year, at least, the Fed’s overwhelming influence should be able to keep rates around that 5 percent mark. Just don’t try to hold out for rates to go to 4 percent. There’s no indication that anyone in government wants to drive them that low.

http://voices.washingtonpost.com/local-address/2009/03/refinance_opportunities_should.html

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Shelli Dore

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…Remember! The next time you are in a conversation with someone who is thinking about a move – IN ANY CITY OR STATE IN THE US OR CANADA – call me first! I can help make sure your friends, family members and work associates are very well taken care of.

Associated Press, 03.11.09, 03:00 PM EDT

The Colorado Foreclosure Hot Line says it had a record month for calls in February.  The Colorado Division of Housing says the hot line received nearly 4,600 calls last month, about 600 more than in the previous record month, of April 2008.  The hot line averaged more than 160 calls per day in February. The typical average is 100 per day.  Officials say the increase may be due to… Read on!

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Shelli Dore

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…Remember! The next time you are in a conversation with someone who is thinking about a move – IN ANY CITY OR STATE IN THE US OR CANADA – call me first! I can help make sure your friends, family members and work associates are very well taken care of.

RISMEDIA, March 17, 2009-In a rare interview with Ben Bernanke this past Sunday on CBS News’ 60 Minutes, the Fed Chairman said he sees the recession ending by the end of this year. When asked by 60 Minutes Corresponded Scott Pelley, Continued

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Your friend in the real estate business,

Shelli Dore

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…Remember! The next time you are in a conversation with someone who is thinking about a move – IN ANY CITY OR STATE IN THE US OR CANADA – call me first! I can help make sure your friends, family members and work associates are very well taken care of.

Foreclosure Timeline

Colorado Foreclosure Information Part 1

Colorado Foreclosure Information Part 2

Basics of a Short Sale Transaction

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Shelli Dore

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…Remember! The next time you are in a conversation with someone who is thinking about a move – IN ANY CITY OR STATE IN THE US OR CANADA – call me first! I can help make sure your friends, family members and work associates are very well taken care of.

This is a great time to buy a home, condo or townhouse with the new $8,000 housing tax credit. This is available for first time home buyers, if you buy before December 1, 2009. If you ever wanted to buy a home, now is the time.  Ask yourself the questions below to see if you should take advantage of this great opportunity. 

  • Time frame to buy? – By December 1, 2009
  • First-time home buyer? – A buyer who has not owned a home for three years.
  • Married first-time buyer? – Both buyers have not owned a home for three years.
  • Claim tax credit? – Claim the tax credit on your federal income tax return.
  • Other form or forms? – No other form except your federal income tax return.
  • Credit limits? – Single $75,000, Married $150,000.
  • Building a custom home? – You qualify, but you have to occupy the home by Dec. 1, 2009.
  • Buying a new home? – You qualify, but the settlement day has to be by Dec. 1, 2009.
  • Tax credit pay back? – You are not required to repay except for certain conditions.
  • Access the tax credit now? – Change your withholding numbers.
  • Mortgage Revenue Bonds? – Allow tax credit home buyers to participate.
  • Loan credit? – State housing finance agencies to help buyers at closing by  advancing the credit amount as a loan.

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Your friend in the real estate business,

Shelli Dore

Find me on Facebook!
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…Remember! The next time you are in a conversation with someone who is thinking about a move – IN ANY CITY OR STATE IN THE US OR CANADA – call me first! I can help make sure your friends, family members and work associates are very well taken care of.

RISMEDIA, March 6, 2009-(MCT/RISMedia)-The Obama administration on last Wednesday detailed its ambitious $275 billion plan to halt soaring foreclosures nationwide, outlining the financial incentives it’s offering investors, lenders and their bill collectors to lure them into modifying distressed mortgages to keep Americans in their homes….

Ambitious Foreclosure Plan Revealed – How Will It Help?

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Your friend in the real estate business,

Shelli Dore

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…Remember! The next time you are in a conversation with someone who is thinking about a move – IN ANY CITY OR STATE IN THE US OR CANADA – call me first! I can help make sure your friends, family members and work associates are very well taken care of.


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