Tulsa Info
Jim Bigelow & John Bucanan on Roof Insurance [Video]
September 23, 2009 by admin · Leave a Comment
In this video Jim Bigelow & John Bucanan talk about the importance of roof replacement Insurance. Check back every week for more real estate and insurance insight from Jim Bigelow & John Bucanan.
Taste of Bixby Video
June 5, 2009 by staff · Leave a Comment
I got a chance to go to the Taste of Bixby event last night. I ran into my friends the Tulsa Food Blog while I was there and ended up on the video they were making. Be sure to check out the video to see some of the amazing food that they were showcasing. It was a great evening!
Appraiser Checklist
May 9, 2009 by Jim Bigelow · Leave a Comment
Here are some of the factors that appraisers Joni L. Herndon of Real Property Analysts/Gulf Coast in Tampa, Fla., and John A. Hillas of Hulbert & Associates Inc. in Modesto, Calif., say they consider when determining value.
Incentives and concessions. Most of today’s buyers expect to pay the lowest possible price and still get some extras. Sellers and home builders are offering money toward closing costs, remodeling and decorating, upgrades, and association dues. The price set initially may not be the final price once concessions are factored out. Appraisers care about that final number.
Closing date. Forget what comparable neighborhood houses sold for a few months back. Appraisers want prices from the most recently closed transactions. “If a sale was more than 45 days ago, even 35, the price may be irrelevant,” Hillas says.
Condition and curb appeal. Appraisers typically find several properties with similar interior and exterior features to determine value. When markets are healthy, blemishes matter less, but when markets soften, problems—a dated kitchen or barren lawn—can reduce prices and deter buyers. “The difference in value is not just the repair costs but the time and hassle to make them. It’s better for sellers to do work in advance,” Hillas says.
Foreclosures. Appraisers technically shouldn’t consider neighborhood foreclosures when valuing a home, since foreclosures don’t meet the Appraisal Institute’s definition of a property reasonably exposed in a competitive market, says Herndon. “But when several neighborhood homes are abandoned, it’s hard not to caution sellers that this is a troubling trend and may affect home values,” she says.
Changing demographics. If a house is in an up-and-coming area, the value can be expected to rise. A location that’s perceived as safe also may help attract the increasing number of single female buyers.
Economic clouds. If there’s an oversupply of comparable homes for sale, or if the local job market is suffering, buyers may be hesitant to invest. Hillas advises setting prices aggressively from the get-go.
Chemistry. It’s hard to account for those times when buyers fall in love with a house, despite a high price, poor condition, or tough economy. “Emotional attachment is a factor that can’t be predicted,” says Herndon. Hillas agrees, “It’s what makes it harder to appraise homes versus commercial buildings, where buyers care more about the bottom line.”
Jim Bigelow Bigelow Group Realtors 918-640-4657
www.jimbigelow.com jim@jimbigelow.com
Coldwell Banker Select
Recession Job Hunt
May 7, 2009 by Jim Bigelow · Leave a Comment
Recession Job Hunt
Competition for Jobs in a Slow Economy
Veterans discharging from the Armed Services meet new challenges. Job Fair lines are getting longer as unemployment rates climb. Don’t panic/plan to adapt and succeed.
Be versatile, mobile, and plan to go where the jobs are. It’s likely you have full or partial paid move coming, courtesy of Uncle Sam. If you are willing to relocate, and a prospective employer does not have to pay moving expenses; you have become a hot commodity.
Read the papers and explore companies own websites. Focus on new contracts or a company product. This gives you an in, while others are on their way out. Take part time work if it is available, seasonable or temporary. Any of these can help you pay the bills, and possibly get you an audience with the decision makers once the economy revives.
To succeed at a Job Fair, prepare before hand on the position you want. Be prepared to tell a prospective employer how you will mesh with his organization and what skills you will bring to a position.
Research the company for specific openings the employer is looking to fill. Don’t waste time handing out resumes that don’t relate your skills for the job. The goal of job hunting is to get a second interview.
Follow up, get a business card and don’t call, a hand written thank you note, referring to the Job Fair makes you more noticeable. Send a fresh resume on nice paper, and always send a cover letter with every resume.
Companies who are hiring include: Banfield, Farmers Insurance, Gentiva Health Services, ITT Corp, M.A.R.S. International, Pricewaters, Service Master, 7-11, and Quik-Trip. Pick the positions you want, and refine your efforts accordingly, or find a company that looks like the right fit, learning all you can, and fine tuning your approach.
As a military retiree, dedicated to the military personnel and their families, I urge you to contact Coleman White@Jimbigelow.com for all your real estate needs.
Coleman White 918-760-1317
coleman@jimbigelow.com www.jimbigelow.com
Jim Bigelow Bigelow Group Realtors 918-640-4657
www.jimbigelow.com jim@jimbigelow.com
Coldwell Banker Select
10 Things Every Remodeling Contract SHOULD Include.
May 6, 2009 by Jim Bigelow · Leave a Comment
10 Things Every Remodeling Contract SHOULD Include.
1. The contractor’s name, address, Phone number, and license number.
2. Details on what the contractors will and will not do.
3. A list of materials for the project in your contract. This includes information about the size, color, model, brand name and product.
4. The approximate start date and completion date.
5. All required plans. Study them carefully for accuracy. Insist that you approve them and that they are identified in your written contract before work begins.
6. Written notice of your right to, without penalty, cancel a contract within three business days.
7. Financial terms, spelled out in a way that you understand. This includes the total price, payment schedule, and any cancellation penalty.
8. A Binding arbitration clause, which you’ll need in the event a disagreement occurs. Arbitration may enable you to resolve disputes without costly litigation.
9. Everything you’ve requested. Consider the scope of the project and make sure all items you’ve requested are included. If you do not see a specific item in the contract, consider it not included. NEVER sign an incomplete contract.
10. A warranty covering materials and workmanship for a minimum of one year. The warranty must be identified as either “full” or “limited”. The name and address of the party who will honor the warranty (contractor, or manufacturer) must be identified. Make sure the time period for the warranty is specified.
Jim Bigelow Bigelow Group Realtors 918-640-4657
www.jimbigelow.com jim@jimbigelow.com
Coldwell Banker Select
What is a Rural Development Mortgage?
May 5, 2009 by Jim Bigelow · Leave a Comment
What is a Rural Development Mortgage?
Rural Development or also known as USDA Mortgage is a conventional mortgage that offers 100% financing. It can be used for the purchase of a new or existing single-family dwelling. Home must be owner occupied. Mortgage insurance is prohibited. No down payment required. 30 year loan term, fixed interest rate. USDA has a one time 2.0% guarantee fee, which is financed into the mortgage. USDA does not limit seller/builder contributions, however if in excess of 6% they will require an appraisal review.
Eligible Areas:
USDA loans can be made in rural areas, which in clued open country and communities up to 10,000 population, plus communities that are not a part of a Metropolitan Statistical Area with populations up to 20,000. To find out if a property is eligible you can visit http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
Applicant Qualifications:
Minimum 620 credit score. USDA mortgages have household income requirements and cannot exceed the moderate-income level. Contact a local lender to find out the counties median income.
For Example: Tulsa County
1 person = income cannot exceed $40,300
2 person = $46,100
3 person = $51,800
4 person = $57.600
5 person= $62,200
Property Characteristics:
Property must be contiguous to and have direct access to a hard surfaced or all-weather road; gravel is ok. The site value cannot exceed 30% of value. Generally 10 acres is the maximum acreage allowed. If property has an in-ground swimming pool a waiver is required from Rural Development and the swimming pool cannot be included in value of the property.
For more information about Rural Development contact Heather Jobe at First Mortgage 918-496-2241. You can also visit the Rural Development website at www.usda.gov
Heather Jobe / Mortgage Loan Officer
First Mortgage Company 918-496-2241
918-698-8939 hjobe@firstmortgageco.com
Jim Bigelow Bigelow Group Realtors 918-640-4657
www.jimbigelow.com jim@jimbigelow.com
Coldwell Banker Select
American Recovery/Reinvestment Act of 2008
April 23, 2009 by Jim Bigelow · Leave a Comment
American Recovery/Reinvestment Act of 2008
First time home buyers purchasing any kind of home, new or resale are eligible for the tax credit. To qualify a home purchase must occur on or after January 1, 2009 and December 2009. The purchase date is when closing occurs, and the title to the property transfers to the new home owner.
For married tax payers, this law test the home ownership of the buyer and his/her spouse. For example: if you have not owned a home in the last three years, but your spouse owned a principal residence, neither you or your spouse qualifies for the tax credit.
However, unmarried joint purchasers can allocate the credit amount to any buyer who qualifies as a first time home buyer.
Ownership of a vacation home or rental property does not qualify as a first time home buyer.
The tax credit is equal to 10 percent of the purchase price up to a maximum of $8,000 dollars.
The income limits for single tax payers is $75,000 and the limit for married tax payers is $150,000 filing a joint return.
This tax credit does not have to be repaid. You claim the tax credit on your Federal Income Tax return. Home buyers should complete IRS Form 5405 to determine their tax credit amount, and claim this amount on line 69 of their 1040 income tax return. No other forms or applications are required, and no approval is necessary.
Any home that will be used as a principal residence will qualify for the credit. The tax credit is refundable, which involves the government sending the tax payer a check for a portion or maybe all of the refundable tax credit.
For qualified veterans 100 percent financing is available through VA Guaranteed Loan Program. Veterans with 100 percent disabilities, certified by the Veterans Administration as service connected are eligible for property exempt status in the State of Oklahoma.
As a military retiree, dedicated to the military personnel and their families, I urge you to contact Coleman White@Jimbigelow.com for all your real estate needs.
Coleman White 918-760-1317
coleman@jimbigelow.com www.jimbigelow.com
Jim Bigelow Bigelow Group Realtors 918-640-4657
www.jimbigelow.com jim@jimbigelow.com
Coldwell Banker Select
30 Year Mortgage
April 20, 2009 by Jim Bigelow · Leave a Comment
Rates on a 30-year mortgage dipped this week after rising a week earlier, and remain just above record lows. The best rates are available to those with solid credit but rates below 5% for FHA mortgages have helped those with “no so perfect” credit.
What does it mean when you “lock in” a rate and is it a good idea?
Interest rates fluctuate based on a variety of factors, including inflation, the pace of economic growth, and Federal Reserve policy. While interest rates are hard to predict, if you think rates are on an upward trend, you may want to consider locking in your interest rate. (Before you decide to lock in, make sure that your loan can close within the lock in period. If it can’t, it won’t do you any good to lock in your rate.)
If you think interest rates might drop while your loan is being processed, you may want to “float” your interest rate instead of locking it in. You can lock in at least 5 days prior to your loan closing.
Jim Bigelow Bigelow Group Realtors 918-640-4657
www.jimbigelow.com jim@jimbigelow.com
Coldwell Banker Select
Heather Jobe / Mortgage Loan Officer
First Mortgage Company 918-496-2241
918-698-8939 hjobe@firstmortgageco.com
Check Out These Other Great Related Tulsa 30 Year Mortgage Blog and Article Posts
what type of mortgage works best for you
April 13, 2009 by Jim Bigelow · Leave a Comment
Step 1: Figure out what type of mortgage works best for you
I have forever advised sticking with a 30-year fixed-rate mortgage, and paying extra on the principal every month to pay it down more quickly. Yes, the rate will be slightly higher than a 15-year mortgage.
A 15-year mortgage comes with lower rates and slightly higher monthly payments that will save you a fortune in interest if you plan to stay in your home. But if you want flexibility, you can get the same advantage by making extra principal payments on a 30-year loan.
Step 2: Understand fees, costs
While most people focus on the interest rate, your true cost must include all fees and charges. When comparing deals, you’ll need to make sure you’re comparing all the costs. Some brokers proclaim there are “no closing costs.” But you can be sure they’re not working for nothing!
Instead, they’ve rolled these costs — appraisals, title search and legal fees — into the interest rate you’re paying. So a loan with a 6.25 percent fixed rate and no closing costs might not be as attractive as a loan at a lower rate with modest closing costs. A lender should give you a “good-faith” estimate of all costs.
You can pay “points” upfront to lower the interest rate. Each point is equal to 1 percent of the loan amount. So on a $100,000 loan, one point is equivalent to $1,000. If you pay “points” to get a discount on your interest rate, that amount may be tax deductible. Given today’s volatile mortgage market, it’s probably not advisable to pay points to reduce your rate. If you decide to refinance at a lower rate in the future, you’ll have “wasted” the money you paid for the points on your old loan.
Step 3. Start your search
The radio advertisements are coming back — promising easy deals, no costs and low rates. But how will you know you’re getting a good deal if you don’t do some comparison shopping? That’s easier than ever today with online tools.
Just remember that every Web site makes money in some way by getting credit for your business. Some want you to register so mortgage brokers can contact you. Others are a source of “leads” for just one mortgage company. You’ll probably have to give some personal information to get a quote. But don’t give out your Social Security number until you are ready to make a deal.
Beware of online mortgage rates and services. When making one of the biggest investments in your life you want to consider a local lender where you can meet them face to face.
Step 4: Get it in writing!
You should get a “good-faith” estimate of all costs and fees. It’s a little late to reiterate this advice, but if you’re thinking of getting an adjustable rate mortgage, ask for a written example of how high the monthly payment could go, and when, if interest rates escalate in the future! If you have any questions, get the answers in writing. And if you’re doing a re-fi, check the wording of your original loan to make sure you are not subject to penalties for prepayment. As always, if you’re in doubt, consult an attorney who specializes in real estate law.
Heather Jobe / Mortgage Loan Officer
First Mortgage Company 918-496-2241
918-698-8939 hjobe@firstmortgageco.com
Jim Bigelow Bigelow Group Realtors 918-640-4657
www.jimbigelow.com jim@jimbigelow.com
Coldwell Banker Select
Oklahoma Tax Exemption
April 9, 2009 by Jim Bigelow · Leave a Comment
Oklahoma Tax Exemption
Due to current housing market trends it is necessary and informative for all qualified veterans and some surviving spouses to know that the State of Oklahoma is unique in that it is the only State that offers tax exemptions for certain classes of disabled veterans and some surviving spouses. Please review the article dated January 22, 2009. Section 9 of Oklahoma House Bill 154.7/1131
Would you believe Oklahoma is the only State that offers Tax Exempt Status to veterans with 100% disabilities?
This program benefits nearly 9,600 Oklahoma Veterans who have sacrificed their lives and health for this Country. These veterans are exempt from all sales tax which includes: City, County, and State that shall not exceed 25,000 per year, per individual. Americans are united in their belief that Congress and the President have a responsibility to make sure that veterans receive their benefits after service. This exemption is the latest attempt from Oklahoma to accommodate those who have sacrificed for our nation. This tax exemption is the least that any State can offer to those men and women who have given their lives and time.
Oklahoma should be the catalyst for this nation who owes their very existence to men and women veterans that have served their country with honor and valor in times of war and peace.
House Bill 1131 allows surviving spouses of veterans with a 100% service connected disability to keep the Veterans Sales Tax Exemption.
As a retired Viet-Nam Veteran, I can truly say that spouses of disabled veterans endure severe hardships when their love one’s die in defense of our nation. The freedom Americans enjoy should not die with the warriors; it must extend to the surviving spouses.
Again Oklahoma leads the nation with new household personal property tax exemption that is offered to 100% service connected veterans or their surviving spouses.
Our service members returning from the mid-east and their devoted families relocating or returning to Oklahoma are also entitled to 100% motor vehicle tax exemption, 100% disable veteran property tax exemption, Oklahoma tuition aid grant, Oklahoma National Guard Tuition Waiver, and many other benefits that are inclusive to Oklahoma.
In today’s world, we welcome your move to a State that honors our veterans.
As a military retiree, dedicated to the military personnel and their families, I urge you to contact Coleman White@Jimbigelow.com for all your real estate needs.
Coleman White 918-760-1317
coleman@jimbigelow.com www.jimbigelow.com
Jim Bigelow 918-640-4657
www.jimbigelow.com jim@jimbigelow.com
Coldwell Banker Select
About Credit
April 6, 2009 by Jim Bigelow · Leave a Comment
About Credit
In the United States, a credit score is a number that is based on a statistical analysis of a person’s credit report, and is used to represent the creditworthiness of that person- the likelihood that the person will pay his or her debts. A credit score is primarily based on credit report information, typically from the three major credit bureaus (Equifax, Experian, and TransUnion). All credit scores are not the same because each bureau uses it’s own scoring mechanism.
Credit scores measure the risk of default by taking into account the various factors in a person’s financial history. Here is how these scores assess what is on your credit report.
1. Your payment history- about 35% of your score. Have you paid your credit accounts on time? Late payments, bankruptcies, and other negative items can hurt your credit score. But a solid record of on-time payments helps your score.
2. How much do you owe- about 30% of your score. The scores look at the amounts you owe on all your accounts, the number of accounts with balances, and how much of your available credit you are using. The more you owe compared to your credit limit, the lower your score will be.
3. Length of your credit history- about 15% of your score. A longer credit history will increase your score. However, you can get a high score with a short credit history if the rest of your credit report shows responsible credit management.
4. New credit- about 10% of your score. If you have recently applied for or opened new credit accounts, your credit score will weigh this fact against the rest of your credit history. The scores can distinguish between a search for a single loan and a search for many new credit lines, in part by the length of time over which inquiries occur. If you need a loan, do your rate shopping within a focused period of time, such as 30 days, to avoid lowering your score.
5. Other factors- about 10% of your score. Several minor factors also can influence your score. For example, having a mix of credit types on your credit report- credit cards, installment loans such as a mortgage or auto loan, personal lines of credit- is normal for people with longer credit histories and can add slightly to their scores.
Tips for building credit
1) Check your credit report. You’re entitled to a free annual look at your reports from annualcreditreport.com.
2) Establish a checking and savings account
3) Pay your bills on time.
4) Don’t max out your credit cards. Keep your balance no more than 30% of your credit limit.
5) Apply for credit when you are a college student.
6) Piggy back on someone else’s good credit.
7) Apply for a secured card.
Get a store card.
9) Get an installment loan.
When using your credit cards- Keep balances low (no more than 30% of your credit limit). Don’t charge more than you can pay off in a month. You don’t have to pay interest on credit card to get good credit scores. It’s much smarter to pay off your credit cards in full each month. Use your card regularly. Make sure that you pay all your bills on time.
Patience and caution are important in this process. It takes time to establish credit . Most importantly, remember that credit actually represents real money and has to be repaid with interest.
hjobe@fiirstmortgageco.com
First Mortgage Company
2504 E 71st Street
Suite A
Tulsa, OK 74136
(918) 496-2241 x230
(918) 698-8938 Cell
Jim Bigelow 918-640-4657
www.jimbigelow.com jim@jimbigelow.com
Coldwell Banker Select
Un-Insured Motorist
March 31, 2009 by Jim Bigelow · 1 Comment
Un-Insured Motorist
Credit Crunch & Reverse Mortgages
March 29, 2009 by Jim Bigelow · Leave a Comment
OKLAHOMA TRIVA
March 28, 2009 by Jim Bigelow · Leave a Comment
Jim Bigelow 918-640-4657
www.jimbigelow.com jim@jimbigelow.com
Coldwell Banker Select
| OKLAHOMA TRIVA;I have not done this in a while and several of you asked ofr more so here it is ENJOY:
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Henry Starr, one of the last outlaws of the Old West was from Oklahoma . During his 32 years in crime, he claimed to have robbed more banks than both the James-Younger Gang and the Doolin-Dalton Gang put together. Quapaw, Oklahoma is famous for “spooklights,” bouncing bright balls of white fire that have been reported as far back as the 1700’s. If you put the hind legs of a farm animal into your boots, you are breaking the law.
Milk is the official state beverage of Oklahoma . It is illegal to wear your boots to bed. The first Boy Scout Troop in the US was formed in Pawhuska in 1909. Phillip H. Sheridan, George A. Custer, and William T. Sherman were the founders of the U.S. Army Field Artillery Center at Fort Sill. Of all the forts built on the south plains during the Indian Wars, Fort Sill is the only active installation. If you have sex before you’re married in Oklahoma , you are breaking the law. Billionaire J. Paul Getty began his oil empire in Tulsa. It is illegal to cause “annoying vibrations” in the Bartlesville city limits. Elvis Presley used to like staying at the Best Western Trade Winds Motel in Clinton, Oklahoma. It is against the law to bring an elephant into Tulsa’s downtown area. While passing another vehicle in Yukon, it is mandatory to honk your horn. The State of Oklahoma forbids women from doing their own hair without having a license. Oklahoma has more miles of the original Route 66 than any other state. Dogs who want to congregate in groups of three or more on private property must have a permit signed by the mayor. The name Oklahoma comes from the Choctaw words okla, meaning people, and homa, meaning red, which translates to land of the red people. In Wynona, your mode of transportation must be tied up while unattended. Bob Wills and the Texas Playboys, fathers of western swing music, began their careers in Oklahoma . In Yukon, Oklahoma it is illegal to tether your horse in front of city hall The comic strip Dick Tracy was created by Chester Gould, an Oklahoman. Oklahoma’s state dance is the square dance.
Jim Bigelow 918-640-4657 www.jimbigelow.com jim@jimbigelow.com Coldwell Banker Select
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Your Plan
March 27, 2009 by Jim Bigelow · Leave a Comment
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Your Plan |
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1. Find the right representative Even if you’re not quite ready to buy, your buyer’s agent can be an absolute wealth of information, and can often offer ‘scoops’ on local developments you might not have know about otherwise. Speak to your agent first and he or she can be helping to guide you right from the start. 2. Find out what your price range is Online mortgage calculators are a good place to start, but as you get closer to being ready to buy, there is no substitute for a written mortgage pre-approval. Just speaking to your lender is an extremely worthwhile venture – this is the only way to really get an in-depth picture of your overall financial picture and to discover exactly what you can reasonably afford to spend on a home (and possibly on renovating). 3. Find out what your local market looks like The internet can be incredibly valuable in doing preparatory research. Start with your agent – he or she can direct you to valuable resources and immediately start e-mailing you real estate listings that may interest you (or at least give you a better idea of what your needs and wants are). 4. Find out what your true needs and wants are Compose a needs/wants list that takes into consideration your local market conditions, your price range, and the advice of your real estate agent. 5. Find your dream home! Once you’re ready to act, you may be surprised by how quickly you can make a decision. Armed with your pre-approval, a little market knowledge, and your needs/wants list, call your real estate agent, hit the pavement, and when you see ‘the house’, put in an offer. With the right team behind you, it really can be that easy! Jim Bigelow 918-640-4657 www.jimbigelow.com jim@jimbigelow.com Coldwell Banker Select
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Your Team
March 25, 2009 by Jim Bigelow · Leave a Comment
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Your Team |
Jim Bigelow 918-640-4657
www.jimbigelow.com jim@jimbigelow.com
Coldwell Banker Select
Mortgage Monday 3/23/2009
March 23, 2009 by Jim Bigelow · 1 Comment
MARKET COMMENT
Mortgage bond prices rose last week applying downward pressure on mortgage interest rates. The bond market got a boost from the Fed announcement (read below) to buy more mortgage debt. There was some profit taking in bonds Thursday afternoon following the run-up in prices Wednesday. Higher than expected core readings of the consumer and producer price indices reignited some inflation concerns. The Fed’s continued efforts to pump money into mortgage bonds helped keep mortgage interest rates favorable. For the week, interest rates on government and conventional loans fell by about 1/2 of a discount point.
The Treasury auctions will once again take center stage this week as additional debt supply hits the market. Durable goods orders and consumer sentiment data will be important.
LOOKING AHEAD
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Economic |
Release |
Consensus |
Analysis |
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Existing Home Sales |
Monday, |
Down 0.8% |
Low importance. An indication of mortgage credit demand. A significant decrease may lead to lower rates. |
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2-year Treasury Note Auction |
Tuesday, |
None |
Important. Notes will be auctioned. Strong demand may lead to lower mortgage rates. |
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Durable Goods Orders |
Wednesday, |
Down 2.0% |
Important. An indication of the demand for “big ticket” items. Weakness may lead to lower rates. |
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New Home Sales |
Wednesday, |
Down 2.9% |
Important. An indication of economic strength and credit demand. Weakness may lead to lower rates. |
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5-year Treasury Note Auction |
Wednesday, |
None |
Important. Notes will be auctioned. Strong demand may lead to lower mortgage rates. |
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Q4 GDP final revision |
Thursday, |
Down 6.6% |
Important. The aggregate measure of US economic production. Weakness may lead to lower rates. |
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7-year Treasury Note Auction |
Thursday, |
None |
Important. Notes will be auctioned. Strong demand may lead to lower mortgage rates. |
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Personal Income and Outlays |
Friday, |
Down 0.1%, Outlays up 0.3% |
Important. A measure of consumers’ ability to spend. Weakness may lead to lower mortgage rates. |
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U of Michigan Consumer Sentiment |
Friday, |
56.0 |
Important. An indication of consumers’ willingness to spend. Weakness may lead to lower mortgage rates. |
ADDITIONAL FED MONEY
Last week the Federal Reserve announced it would pump another $750 billion into purchasing more mortgage-backed securities, the bonds that directly dictate 30 year and 15 year fixed rate Government and Conventional mortgage interest rates. This is in addition to the $500 billion being used between January and June to drive mortgage interest rates lower and help stimulate the economy.
So far the Fed has been able to keep mortgage interest rates relatively low while not destroying the functioning secondary market where investors buy and sell mortgage bonds. The potential negative is that the Fed has become the primary purchaser of these bonds. In the short term take advantage of these advantageous rates. There is uncertainty how things will play out once the Fed begins to unwind those positions in the futures.
Heather Jobe
First Mortgage Company
Office: (918) 496-2241
Cell (918) 698-8938
Jim Bigelow 918-640-4657
www.jimbigelow.com jim@jimbigelow.com
Coldwell Banker Select
Marketing Letter: Property Preparation
March 22, 2009 by Jim Bigelow · Leave a Comment
Marketing Letter: Property Preparation
Good morning!
One of the questions I am asked after a client decides to place their property on the market is, “What should I do to get ready?” The first thing to remember is that we all have different tastes. So don’t make a lot of major changes that might suit you but not the new buyers. A buyer will make changes according to their own decorating preferences.
The key is to keep things simple. The less clutter the better. If things seem crowded, think about storing items or use this opportunity to make a donation to your favorite charitable foundation.
Do make minor repairs such as leaky faucets.
The overall first impression is most important to a prospective buyer. Outside, landscaping can make a dramatic difference. Often something as simple as flowers lining a front walkway can make a more inviting entrance.
DON’T go to any great expense.
One of the aspects of my assistance is that I can provide you with a list of qualified people to assist you in readying your property for sale. The excellent team of painters, handymen, gardeners and cleaning services can assist you and often at special senior prices.
Let me take the worry out of preparing your property for sale. I’ll help you organize the necessary work from start to finish, allowing you to concern yourself about more important things. Call me at (918) 640-4657 or e-mail me at jim@jimbigelow.com for a FREE consultation and specific information about my services.
Sincerely,
Jim Bigelow
Seniors Real Estate Specialist®
www.jimbigelow.com
