Where will we end up in this crazy debate? Know one really knows...but what we do know is that things are shaking up some. Investing in property should be a very methodical process and we have tried to look at the best way to handle the Panama City Beach Florida Condominiums market just that way. What can you afford....without any renters! Then the rest is just gravy! That being said.....we have to dig deeper to keep our investment safe. The last thing we want is to allow someone to come in and take these properties for sale for a much lower price...then your investment has gone upside down! The supply is so scary...something needs to happen. Take a look below at some of the latest information on this debate:
Congress Divided on $700 Billion Bailout Plan Congressional negotiators resumed meetings on Friday to revive or rework the proposed $700 billion financial bailout plan. On Thursday, the word was that the group of lawmakers were near “fundamental” agreement on the bailout of the U.S. financial sector.But that consensus fell apart Thursday night, with Democrats blaming the House Republicans for the apparent stalemate. Conservatives, however, have complained that the plan would be too costly for taxpayers and would be an unacceptable federal intrusion into private business.President Bush is urging lawmakers to work through their disagreements and reach a consensus on the plan so the U.S. can avert an economic meltdown. "There are disagreements over aspects of the rescue plan, but there is no disagreement that something substantial must be done," Bush said in a statement. In other news, the Chicago Tribune reports that Sen. John McCain has agreed to participate in Friday night's presidential debate even though Congress doesn't have a bailout deal. He had previously been pushing for a delay in the debate until the financial crises had been addressed. Source: Dow Jones International News (09/25/2008), Chicago Tribune (09/26/2008)
For more information on property for sale in the Panama City Florida area visit us online at http://www.randbcoastalrealestate.com/ and for general information on Panama City Beach Florida Real Estate click here!
Saturday, September 27, 2008
Monday, September 1, 2008
Lending Gets Tight and Tighter
At some point we have to ask......Can we make it any more difficult to buy a home or condominium?
I mean come on!!! The new ways of lending are great, but it's making it more and more difficult for people to complete transactions.
What is next? This is an interesting article on new FHA lending fees. We at http://www.investsmarter.com/ must ask how can people keep shelling out more and more money to close on a home? There are a few great solutions and please take a look at our Forum Section and provide us with feedback!
Daily Real Estate News August 29, 2008FHA Raises Upfront Premiums The Federal Housing Administration announced Tuesday that it is increasing the upfront premiums charged to most borrower to guarantee that a mortgage will be repaid. Effective Oct. 1, most borrowers will pay 1.75 percent of the loan amount, up from 1.5 percent because the FHA is adopting a “risk-based” pricing system based on borrowers’ credit scores and the amount of their down payment or equity.On a $300,000 loan, the new upfront premium works out to $5,250, up from $4,500. The annual premiums paid by borrowers would remain at 0.5 percent to 0.55 percent of the loan balance.Source: The Wall Street Journal, James R. Hagerty (08/28/2008)
So what can we do? Owner financing will be the wave of the future!
For more available properties please turn to http://www.randbcoastalrealestate.com/ for property for sale in and around Panama City Beach Florida.
I mean come on!!! The new ways of lending are great, but it's making it more and more difficult for people to complete transactions.
What is next? This is an interesting article on new FHA lending fees. We at http://www.investsmarter.com/ must ask how can people keep shelling out more and more money to close on a home? There are a few great solutions and please take a look at our Forum Section and provide us with feedback!
Daily Real Estate News August 29, 2008FHA Raises Upfront Premiums The Federal Housing Administration announced Tuesday that it is increasing the upfront premiums charged to most borrower to guarantee that a mortgage will be repaid. Effective Oct. 1, most borrowers will pay 1.75 percent of the loan amount, up from 1.5 percent because the FHA is adopting a “risk-based” pricing system based on borrowers’ credit scores and the amount of their down payment or equity.On a $300,000 loan, the new upfront premium works out to $5,250, up from $4,500. The annual premiums paid by borrowers would remain at 0.5 percent to 0.55 percent of the loan balance.Source: The Wall Street Journal, James R. Hagerty (08/28/2008)
So what can we do? Owner financing will be the wave of the future!
For more available properties please turn to http://www.randbcoastalrealestate.com/ for property for sale in and around Panama City Beach Florida.
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