Susan Ason

Market backed securities

Susan Ason — Thu, 04 Aug 2011 22:21:00 GMT

Mortgage-backed securities reached their high for the year today. Favorable repricing took place. It was a very significant day for financial markets. Concerns about debt problems in Europe and the pace of global economic growth sparked a large rally in the mortgage markets and a large decline in the stock market. The Dow was down 510 points, and is now down over 1,300 points from its July 21 closing level, to the lowest level since March.

We get the most important data point of the month tomorrow morning at 8:30am. Needless to say, investors are nervous that the economy might be losing steam. The jobs report will set the tone for tomorrow’s trading day.

What is the advantage to all this negative news on the foreign and domestic economies? The cheapest mortgage rates we have seen all year. With 30 yr fixed rates back at near 4%, your buyers may be more motivated to proceed with the purchase they have been considering.

For Sale on Tybee Island

Susan Ason — Sun, 28 Feb 2010 22:58:00 GMT

Beautiful low country home on Tybee Island located on the marsh.

Please watch the video and take the tour!

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Update on what's happening with financing

Susan Ason — Mon, 12 Oct 2009 22:07:00 GMT

With a light schedule of economic data, Treasury auctions and comments from Fed officials were the primary influences on mortgage rates this week. Strong auction results on Tuesday and Wednesday pushed mortgage rates to the lowest levels seen in months. The final auction on Thursday, however, saw much weaker demand. Reacting to this, along with hints of tighter monetary policy from Fed Chief Bernanke Thursday evening, mortgage rates gave back their improvement and ended the week a little higher.

Recently, Fed officials have sent mixed signals about how soon the Fed may need to begin to tighten monetary policy. Wednesday, the Fed's Hoenig said that the Fed should begin raising interest rates "sooner rather than later," and that this action wouldn't end the economic recovery. He explained that the Fed has a long way to go just to return to a neutral monetary stance and that it will take a while for the impact of rate hikes to be felt. Thursday evening, Bernanke held with the stated view that low rates will likely be justified for "an extended period", but he added that the Fed will be ready to remove stimulus as the economy recovers. When the Fed eventually indicates that it's ready to act, mortgage rates will be likely to move higher.

Courtesy of Michael Caputo

Good start for the week:

Susan Ason — Mon, 27 Jul 2009 16:03:00 GMT

From: Caputo, Michael J [mailto:michael.caputo@bankofamerica.com]
Sent: Sunday, July 26, 2009 10:03 PM
To: Caputo, Michael J
Subject: Start to a good week

Early last week, a forecast from the Fed that inflation should remain low for the next couple of years moved mortgage rates lower. Inflation is enemy #1 for mortgage rates. The economic news later in the week was less favorable for mortgage rates, however. Strong earnings reports produced a rally in the stock market, which pushed mortgage rates higher. In the end, mortgage rates finished the week essentially unchanged.

In testimony before Congress on Tuesday, Fed Chairman Bernanke provided an update on the Fed's outlook for economic conditions. Of note, Bernanke predicted that inflation will not be a concern any time soon, which was good news for mortgage rates. While he expects economic growth to turn positive later this year, he suggested that the labor market may be weak for several years. As a result, the fed funds rate will likely remain near zero for "an extended period".

The June Existing Home Sales report contained positive news for the housing market. In June, Existing Home Sales rose for the third straight month, climbing 4%. The inventory of unsold existing homes fell to a 9.4-month supply from a 9.8-month supply in May. The national median home price rose 4% from May. According to the National Association of Realtors (NAR), home sales were helped by the first-time homebuyer tax credit and "historically high affordability conditions".

First-time homebuyers accounted for 29% of all transactions in June. We are down to just 4 months left of the federal housing tax credit. It would be a shock to the system if this credit were not to be extended. My guess is we will not here much talk about the extension until we get closer to the date. Until there is official notice from the Fed that it will be continued, one should act as if it will end on Dec 1^st as scheduled. Remind your buyers that they need to be CLOSED by Dec 1^st and not just under contract.

Rate Update:

30 yr fixed Conventional FHA VA – all are at 5.25%

30 yr fixed USDA is 5.0%

"With careful and detailed planning, one can win; with careless and less detailed planning, one cannot win. How much more certain is defeat if one does not plan at all! From the way planning is done beforehand, we can predict victory or defeat."

Michael J. Caputo

Bank of America Home Loans
MLO Sales Manager
Cell: (912) 658-1595
EFax: 866-425-2812
Michael.Caputo@bankofamerica.com

" We will always be a responsible lender and we will enable you to be a successful homeowner."

This communication from Bank of America - may contain privileged and/or confidential information. It is intended solely for the use of the addressee. If you are not the intended recipient, you are strictly prohibited from disclosing, copying, distributing or using any of this information. If you receive this communication in error, please contact the sender immediately and destroy the material in its entirety, whether electronic or hard copy. This communication may contain nonpublic personal information about consumers subject to the restrictions of the Gramm-Leach-Bliley Act. You may not directly or indirectly reuse or re-disclose such information for any purpose other than to provide the services for which you are receiving the information.

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Susan Ason — Fri, 17 Apr 2009 17:57:00 GMT

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Beautiful home For Sale in Ardsley Park

Susan Ason — Thu, 09 Apr 2009 19:44:00 GMT

• 4,170 sq. ft., 3 bath, 4 bdrm single story - MLS® $646,900

Ardsley Park, Savannah - Light & spacious Ardsley beauty on park. Estate sized fenced lot, gracious entrance hall, with fire place. Large rooms, gourmet kitchen, sun porch, library, living room, large formal dining room on main floor, large office.

Property information

Beautiful Low Country Home on the marsh

Susan Ason — Thu, 09 Apr 2009 13:57:00 GMT

Here is my latest listing:

http://www.susanason.com/Listing/VirtualTour.ashx?listingid=2320291

Countrywide Reo's

Susan Ason — Tue, 07 Apr 2009 17:01:00 GMT

Here's a link to the CountryWide web site that contains REO information:

http://www.countrywide.com/purchase/f_reo.asp

Buying a HUD home

Susan Ason — Tue, 07 Apr 2009 16:55:00 GMT

About Buying HUD Homes


	Information by State Esta página en español Print version

Related Information

Information about Selling HUD Homes

More From HUD

	General Homebuying Information
	Officer/Teacher/Firefighter-EMT Next Door Program
	Let FHA loans help you
	Homebuying programs in your state

What is a HUD Home?
A HUD home is a 1 to 4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim.

Who can buy a HUD Home?
Almost anyone! If you have the cash or can qualify for a loan (subject to certain restrictions) you may buy a HUD Home. HUD Homes are initially offered to owner-occupant purchasers (people who are buying the home as their primary residence). Following the priority period for owner occupants, unsold properties are available to all buyers, including investors.

If you are an evacuee displaced by Hurricane Katrina, Rita or Wilma, HUD could sell a HUD home at a discount to you!

How are HUD Homes sold?
All properties available for purchase by the public are offered for sale at Internet listing sites maintained by management companies under contract to HUD. Any real estate broker registered with HUD may submit an offer and contract to purchase on your behalf. HUD pays the real estate broker's commission, if included in the contract.

Are there any special programs?
Properties in designated areas are available at a reduced sales price to law enforcement officers, teachers, firefighters, emergency medical technicians, nonprofits and local governments. Read more about these Good Neighbor Initiatives.

Should I get a home inspection?
We encourage you to get an inspection after your offer is accepted. All HUD Homes are sold AS-IS, without warranty. HUD will not make repairs nor pay to correct any problems.

What about financing?
Although HUD does not offer financing directly, some of our homes qualify for FHA-insured loans. Shop around for a lender to find the best loan terms. Find out how an FHA loan can help you.

Content current as of 19 June 2008

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$8,000 tax credit

Susan Ason — Tue, 07 Apr 2009 13:31:00 GMT

This was pulled from Realtor.org:

The homebuyer tax credit is one of 10 key provisions of the American Recovery and Reinvestment Act signed by President Obama into law on Feb. 17, 2009.

The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

Chart Highlighting the Major Modifications to the First-Time Homebuyer Tax Credit> (PDF: 309K)

Frequently Asked Questions> (PDF: 483K)

Download the IRS First-Time Homebuyer Tax Credit Form 5405> (PDF: 257K)

NAR's Presentation: The 2009 First-Time Homebuyer Tax Credit> (PDF: 319K)

NAR's Presentation: The 2009 First-Time Homebuyer Tax Credit>
(PPT: 218K)

Latest News and Information

NAR Webinar: First-Time Homebuyer Tax Credit - April 28, 2009
In this webinar, you'll learn exactly how the first-time homebuyer tax credit works, and you'll hear about how you can build a marketing program around the incentive to reach prospective buyers.
Register for the webinar>

4/05/2009 - NAR Runs Printed Ads in Targeted Congressional Districts
On Sunday April 5th, NAR ran printed ads in select newspapers, thanking a specific group of Members of Congress for their leadership and efforts in passing the $8,000 first-time homebuyer tax credit.
Download a copy of the ad posted on the Maine Sunday Telegram> (PDF: 105K)

3/19/2009 - IRS Provides Filing Guidance on First Time Homebuyer Tax Credit
The IRS released additional information to help homebuyers understand the ways they can file to receive the homebuyer credit.
Read more>