2 Ways to Pay for PMI. 

Buyers can negotiate with the seller to pay a single premium upfront or buyers can roll the premium into their loan.  The downside of rolling it into the loan is that interest will be charged on loan for the premium.   The upside is the interest paid is deductible and the buyer will pay less money out of pocket at closing.

The only way to eliminate PMI is to put 20 percent down and apply for 80 percent financing.   Waiting is the only other way to get rid of the expense.  PMI cancels as you pay down your loan and equity reaches 22 percent of the homes value.

Thank you for visiting Why 6 Percent.  Interest Rates remain unchanged today.  Good news for home sellers and buyers, alike.   Learn more about our flat fee MLS and Realtor.com program for homeowners.  Market your home like the pro’s and save thousands in commissions!

The  program, which takes effect April 5, 2010,  pays lenders and borrowers to complete a short sale.   Key points of the program are as follows.

• 1.  The program compels lenders to accept a short sale offer and forgive the difference they are owed between the market value and the outstanding mortgage balance. 
• 2.  The lender will receive $1000 for every short sale they participate in.
• 3.  The program encourages millions of borrowers to get serious about getting rid of their homes.  It  pays homeowners $1500 in walking away cash for finding buyer for their property and closing the sale.
• 4.  The lender will utilize real estate agents to determine the present market value for a home.  That value will set the minimum acceptable price.   The estimated value will not be shared with the homeowner.  If an offer is submitted that is equal to or higher than the estimated value, the lender MUST take it.

Pro’s and Con’s

• 1.  For the investment pools which own most of the home loans, there is the hope of getting more money from a short sale than a foreclosure proceeding.
• 2.  For the lender, $1000 will help offset the labor intensive short sale process.
• 3.  For the borrower, their credit will suffer less damage.  They have the lenders assurance that they won’t be sued down the line for their unpaid balance.  And, they get $15oo to assist with their relocation.
• 4.  For the community, short sales mean fewer empty houses sitting around waiting for the bank sale.  It is estimated as many as half of all vacant properties are ransacked, neglected, vandalized and depress the value of neighboring homes.
• The downside is that short sales are “tailor made” for fraud.  House values are inherently subjective, which providing a wide latitude of potential conflicts.
• Another problem is that bankers hate the very idea of accepting an offer short of what they are owed.  By nature, they don’t want to sell anything at a discount.  If they loan $200,000 …they expect to be repaid $200,000, not $150,000.

Thank you for visiting Why6Percent.com   We have helped thousands of people sell their homes and save a ton of money in fee’s and commissions.  We can Help You, too!!

Why?  Interest rates are rising.  Job losses have slowed to a trickle.  Factory and Industrial output is up for the first time in years.   And, we feel that the Fed is holding back information, for now, on the job creation that is happening as we speak.

So, where are the best real estate deals in the country??  We have identified 10 cities that are offering up Trump-type deals of a lifetime.   CLICK HERE to see where the action will start first.

If you haven’t placed your property listing on the MLS, Realtor.com, Zillow, Google, MSN, Military.com and all the other major real estate websites…you are missing buyers.  Go to the Why6Percent.com website and sign up NOW!!Don’t wait a minute longer.  Tax Credits, Rising Rates and Gutted Home Prices are creating a stir among buyers early this spring.  You snooze…you lose…  And, we certainly don’t want that.

Depending on where you live, you may have never experienced a winter like this one.  I know I haven’t.  Week after week, snow, rain, mudslides and/or freezing temperatures have pounded the country.  With only 1 state out of 50 snowless, it’s easy to see why no one is attending Open Houses… Fortunately,  with February nearly over,  the crocus will soon appear and we predict that homebuyers will hit the streets enmass.  

Home Sellers Get Ready.  The nasty, record setting winter certainly put a halt to home sales, but the upside is the pent up demand it created.  People who expected some typical, nice days to tour homes after the holidays, have  found themselves stuck inside with nothing to do but watch HGTV and dream about buying a home.  We predict these stir crazy buyers will hit the streets at the first opportunity. 

$8000 Reasons to Motivate this Spring.   The $8000 tax credit for homebuyers expires in 43 Days.   To cash in on the lucrative tax credit, buyers must be under contract for a home before April 1st or they forfeit $8000 grand!!  That’s a lot of motivation to get serious in a hurry.

Cheap Money.   The Fed and Mortgage Bankers all acknowledge that interest rates will increase this spring and continue moving upward through 2010.   Buyers know that if they snooze they lose the chance to lock in a cheap, fixed rate loan and risk pricing themselves out of their dream home, entirely.

Get Ready. Get Set.  Sell.  Home sellers should prepare for a surge in buying activity this spring that has not been seen in several years.   Make every second count now by deciding on your selling strategy.  Agent? FSBO? FSBO, combined with the power of the MLS?  Whichever you chose or want to pay for,  make sure you use the internet for all it’s worth.  And, get to  know your local home market like the back of your hand.   

Why6Percent.com will make sure you are ready when the buyers show up.   Place your property on InfoTube.net for FREE exposure to thousands of buyers each week.  Advertise your home listing to every buyers agent and on every real estate website with our cheap, flat fee MLS listing, and keep the commission.  Either way you chose, act now.  You can’t afford to wait until the buyers are looking.   This is what you’ve been waiting for.

What can you Learn from Foresight vs Hindsight this Year?

1. To make the most money in 2010…Get your house clean, cleaned out, staged and priced to sell NOW.
2. Do not wait until Spring is here to put your home on the market.  Do it NOW!
3. 90 percent of all home buyers shop on the internet, not newspapers, local or otherwise.  If you aren’t marketing your property on all major websites for real estate, buyers will not find your home.  There are simply too many homes for sale and buyer’s will not any waste time ferretting out information or for obscurely advertised property.
4. Use photographs and video’s to show and sell your home.   Add in video or snapshots of the neighborhood, nearby shopping, parks or attractions.   Pictures, and especially video, create interest and a glimpse of lifestyle that buyers crave.
5. Sell it yourself, but enlist the help of buyers agents.  Buyer’s agents use the MLS to find property for their clients.  Advertise on the MLS and offer up some commission to them, if they bring you their buyers!  Bonus: If you list your home on the MLS, it will immediately stop all annoying listing calls, too.

Why 6 Percent is in the business of helping sellers market their homes on every major real estate website, search engine and the MLS with one click of your mouse.  Visit our website or phone 1-800-381-9496 for details.  We can put your property in front of millions of home buyers within 24 hours.  Don’t delay.  Act Today!!

If you are serious about selling your home, then 2010 is the year for you. 

1. The decimated housing market is showing signs of stabilization in price and demand.  Prices have actually risen for the past 6 months, through October, and overall demand has increased.
2. Interest rates are at historical lows, but they have risen a half percent in the last month.  Higher interest rates are a big motivator to buy now, as no one expects rates to stay this low going forward.
3. The Fed extended the $8000 first-time buyer tax credit and expanded $6500 credit which includes non-first timers.   This program certainly helps lure ready-buyers into the marketplace.  To qualify all sales must close by June 2010.
4. Homes are affordable.  In markets like Phoenix, you can buy a home for $800 a month, which makes owning cheaper than renting.

While the news on real estate in 2010 is mixed, and no one is predicting a rebound in housing until 2013, the bear market is definitely in its last innings. 

If you have a home to sell, there hasn’t been a better time in years.  To succeed, contact Why6Percent.com to advertise your property on the MLS and real estate websites where 90 percent of the buyers are looking.   It’s really that simple. 

It’s beginning to look like 2010 is the year to buy a home. 

1. Cheap Prices:  After a decade of steep home price appreciation, the recent crash pummeled home prices back to levels last seen in 2003.
2. Low Interest Rates:   5 percent or less for a 30 year fixed rate loan mean rates are at historical lows, at least for now.  Rates are expected to rise the next 4 quarters…so if you snooze, you may loose the chance to lock in at once in a lifetime rates.
3. Foreclosures:  Although losing a home is a life changing, tramatic experience…large numbers of foreclosures have created wonderful opportunities for buyers and investors.
4. Uncle Sam:  Uncle Sam is sweetening great deals on homes by handing out thousands of dollars to first time and existing homeowners who close on a home before June.

Thank you for visiting Why6Percent.com.  If you have a home to sell, we can put your listing in front of millions of serious home buyers with the click of your mouse.  Why Pay 6 Percent???  Visit the website for details and free marketing services.

The percentage of investors shopping for property also jumps higher when it comes to foreclosed property.   42 percent of foreclosure buyers are purchasing for an investment.   57.6 percent of foreclosure shoppers plan to live in the home they buy.

The survey also shows that 23.6 percent of investors and buyers believe that home prices are already as low as they will go.  Nearly 20 percent feel a sense of urgency when searching for a bargain. 

Another factor motivating home buyer’s off the sidelines is the real threat of rising interest rates.  Wall Street guru’s, who agree on very little, warn that lending rates will rise in the near future.   With real estate prices at their lowest levels, buyers risk much more in waiting to purchase, than they do by locking in record low rates on their loan.

Why6Percent Prediction:  We believe the leading indicator of an interest rate hike will be  falling unemployment claims.  When unemployment claim filings fall below 500,000 per month, a rate hike is likely!

Realtors Prediction:  Home sales will jump by over 13 percent in the next 6 months.

Thank you for visiting Why6Percent.com, your home selling resource center.   If you are selling, buyer’s are buying.  So, don’t miss the Boat.  If they can’t find your property, they can’t buy it.  Call us at 1-800-381-9496 today.  Our MLS and Realtor.com marketing package reaches 10 million home buyers each and every month!!!

Great news for home buyers, sellers and owners, alike.  The homebuyer tax credit has been expanded to include step up buyers, who have owned a home for 5 years.  It also extends the tax credit through the end of 2010.  

GREAT NEWS! 

It appears that Senate Democrats have recognized the tremendous value of the First Time Homebuyers Tax Credit and odds are it will be renewed soon. At this time, it is believed that the credit will allow anyone purchasing a home, by April 30, 2010, to participate and receive the full credit available.

The credit will continue until the end of 2010, but the amount of tax credit will drop by 2 percent every 90 days.  The graduated benefit should help the housing market recover into and through the 2010 summer selling season.

Here is the text of the story as reported in Bloomberg News today:
Senate Democrats on Board with Credit Extension

Senate Banking Committee Chairman Chris Dodd (D-Conn.) says Senate Democrats have agreed to extend the first-time home buyer tax credit.  The latest version extends the program to home sales signed not closed by April 30. Purchasers would have another 60 days to close the sale.  The credit will also be expanded to include so-called step-up buyers who have lived in their current home for at least five years.

The credit would be cut slightly to a $7,290 cap.  Income eligibility for first-time home buyers would stay the same, but it would rise for step-up buyers to $125,000 for individuals and $250,000 for couples.

Stunning News:  At least one half (50 percent) of the homes sold in the US closed for less than the amount owed on the mortgage.  In other words, half of all US homeowner’s were upside down, owing more money than their houses were worth. 

Sadly, the national average of 50 percent was far better than a lot of regions faired.  In Arizona and California, 55 percent of sales prices fell below the loan amount.  In Florida, 40 percent of owners were upside down.  In Michigan, 65 percent of all home sales were distressed.  In Nevada, the banks lost even more money, as 61 percent of all sales were made at prices below the outstanding debt amount.

While we have seen units of sales of real estate pick up in the last four months, these sales have unfortunately been the result of deeply discounted prices.   The problem for a recovery in 2010, is that another wave of foreclosures is cresting, ready to pound us once again.

To read the latest news about foreclosures and home price predictions in 2010, CLICK HERE.

Thank you for visiting Why6Percent.com.  If you have a home to sell, time is not on your side.  Price your property aggressively and let the world know about it.  Visit our website and discover how other seller’s are reaching millions of buyers a month.