|
Ask About My
Free Home Warranty Program!
Sellers, and Buyers, when
you are my exclusive client, at completion of a successful act of
sale, get a free, one-year home
warranty.
(Restrictions
Apply).
Homes with a warranty sell
faster, and buyers have peace of mind.
|
|
|
| Property
Spotlight |
|
Pretty St. Charles Ave.
Condo 2 bd, 2ba. 1008 sq. ft.
Flawless. 24/7 security, street car, tasteful furnishings
included. Parking, pool, warranty. Six months condo fees
paid. $229,000.
Condo close to CBD -
As new condition. 2 big bedrooms, two tiled baths,
lovely kitchen, beautiful wood floors, gated park, video security,
1st yr condo fees paid. Warranty,
$214,900
Investment Doubles! $169K,
$199K, $299K Rented and in good condition! Call for details.
504-579-4717
Homes for Sale
There's a good supply for your inspection!
Call 504-579-4717
|
|
|
|
Forecast: The next 12
months
|
|
No lame duck President on the
verge of a close election is going to jeopardize a
potential win over the opposition by condoning an increase in home
interest rates. And no new President is going to
condone a rate increase during the first year of their first
term. Look for mid 6% to low 7% rates over the next 12
months.
The greater New Orleans housing
supply remains high and thus your opportunity to "get a good
deal" will continue for some time. For example, luxury condos
continue to be a bargain. But if you're thinking about
stealing a great home in outstanding
condition, in a super location, forget it. Yes, the
best homes/condos, will sell below their 2005 level, but
not for 25 or 30% below. Desirable property remains just
that, desirable. But over-all, prices are definitely
lower and this is absolutely one heck of a time to buy the
home you really want, or need!
There is a steady trickle of
people coming into town, and home sales are far from dead. So,
there isn't going to be an unforeseen and sudden glut on the market
that will tank prices even further. We have already seen
those big corrections. Though prices will remain relatively low,
look for a steadying of prices over the next 12
months.
In short, if you are thinking
about buying, you have about a year to play with. Low
interest rates and a good supply of quality homes for sale at
reasonable prices means that now is the time to make your
move.
The ambition of this news letter
is to arm you, the real estate buyer and seller, with the necessary
tools to make your next real estate transaction, a smart
one!
I am at your
service.
|
| Interest Rates and
Credit Cards |
|
Mortgages for around 6.5% are available, but the
actual rate you receive will be directly affected by your credit
rating.
The near collapse of Ginnie Mae and Freddie
Mac has caused a trend that will see these institutions
going back to basics, and, as a result, local loan
providers will be much tighter with loan criteria.
As always, look for hidden costs from
lenders, they can make what looks to be a low rate vanish
in a heartbeat. Shop around, ask a lot of
questions, and find the real bottom line.
Remember, if you are looking for a mortgage, be
cool with credit. Delay big ticket credit purchases or
obtaining another card until after you have
closed on your house!
The issue of loan failures is far from over.
The next problem area may well come from credit cards.
Millions of pre-approved cards have been mailed to individuals with
questionable credit worthiness. Others are cash poor and
suffering from a tough economy, job loss, and rising prices.
There are economically hard hit areas like the post Katrina
Gulf South and other disaster struck zones like the flooded
out mid-west. This means credit cards are being
abused.
Added together this spells trouble for loan
organizations; they will have to return to fundamentals and
tighten up their act. Credit hasn't been this important since
the S & L crash of years ago.
|
|
