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The Low Cost of Financing

by The Cincinnati Team

The Low Cost of Financing                                                 

According to Freddie Mac, the average commitment rate for a thirty-year, conventional fixed-rate mortgage loan was at 4.95 percent in February, which is down from 4.99 percent in February 2010. Home financing costs are at historic lows, making home ownership a reality for many first time buyers! Many experts see rate increases on the horizon, as our nation seeks to balance spending. If you are considering a home purchase or a refinance, be sure to work with a loan officer who understands your needs, has a reputation for excellence, and is able to fund your property in a timely manner. A little homework can save you thousands of dollars. Contact us today for our list of local recommended mortgage lenders.

Mt. Adams Market Snapshot - May, 2010

by The Cincinnati Team

Homes and condo sales continued at a brisk pace in May, 2010 in Mt. Adams.  6 homes closed in the month of May.  There are currently 4 homes pending closing and 40 hMt. Adams Market Snapshot - May, 2010omes and condos that are actively listed for sale.

 

 

 

 

 

 

 

 

 

 

Mt. Adams is one of the few areas of Cincinnati showing signs of rebounding. Prices so far in 2010 are significantly above last year and 2005.  Most homes in Cincinnati are currently averaging below prices sold for in 2005.  This is causing difficulties for people wanting to refinance in this time of extremely low mortgage rates.  It is also a problem for those with little equity in their home, who need to sell because of a relocation or change in family circumstances.

According to Credit Suisse's monthly survey, traffic levels (number of visitors to homes for sale) have been slower in May.  This is caused by the end of the homebuyer tax credit.  It forced many buyers to buy ahead of what might have been their regular time schedule. Low traffic levels may result in a longer time to sell a house and price reductions.

The Cincinnati Multiple Listing Service reported an overall uptick of 25% from May of 2009 to May of 2010 on the number of homes sold in the region.  That is more than the 19% reported for nationwide home sales.  June sales are expected to also remain strong as the last of the tax credit homebuyers close on their homes.

Don't Ding Your Credit Score!

by The Cincinnati Team

So, everyone says you should be careful to maintain high credit scores.  So, the loan officer says you can only get the best mortgage interest rates if your credit score is over 720.  So you wonder just how much you will get dinged if you do any of the "no, no's" of credit management.

MSN Money says that the following negative information will affect you credit score by...

Effect on a 680 score      Effect on a 780 score

Maxed out credit card            -10 to -30                     -25 to -45

30 day late payment              -60 to -80                     -90 to -100

Debt settlement                    -45 to -65                      -105 to -125

Foreclosure                          -85 to -105                     -140 to -160

Bankruptcy                          -130 to -150                    -220 to -240

Dancing on Cincinnati's Fountain Square

by The Cincinnati Team

I love the concept of a "Spontaneous " dance that seems to celebrate life.  Last Friday almost 150 people gathered on Fountain Square to bring exciting dance to downtown.  I love the freedom of the dance and the joyfulness it expresses.  Be sure to watch at the end when Victoria Morgan, Cincinnati Ballet Director makes a few inspiring comments.

http://news.cincinnati.com/article/20090814/NEWS01/908150360

If we are lucky, they will teach even more people the dance and perform somewhere else!  The community feel is wonderful.

If you want other dance events on Fountain Square, show up on Thursday nights at 7 PM for Salsa on the Square (lessons and dancing).

Displaying blog entries 1-4 of 4

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