Whew…sorry, it’s been a while. I have been blogcationing. Hey, what can I say… I’m may be partly amphibian and the sun finally came out in Portland! 🙂
OK…now for some Fresh Frog…I mean BLOG:
The first half of the year’s real estate business was pretty darn great. Although, I have noticed a definite lull in buyer activity since the April 30th tax credit deadline passed. Perhaps because many of the buyers that would have been out searching now have already purchased! They could already be enjoying their tax credit money if they filed an amended 2009 return. Imagine the feeling the first time buyers are getting when they open their mailbox to find a check for 8,000 SMACKERS.
Well, we don’t have a tax credit any more, but thank goodness the loan interest rates are SCREAMINGLY LOW. Did I just scream at you?…sorry. This obviously is a great time to buy if you have the ability to qualify and you feel secure in your job.
It also may be a perfect time to refinance existing loans, even if your current rate is in the high 5% range! With rates as low as they are, it can still make sense to refinance again even if you did last year. For example, if you can save 1% on a $250,000 mortgage and it costs $4,000 in costs to refinance, it’s should take only a little over a year and a half to break even. Many people are refinancing down to a 15 year mortgage with about the same payment as their 30 year mortgage. That’s a ton of savings. If you want to find out more give me a call and I’ll direct you to a quality mortgage professional.
I hope you are also enjoying your summer sun~