February 18, 2005

- Various items

 

The boston real estate market has been great in the past 10 years according to Back Bay Real Estate Section!Now we'll see if the boston area and the back bay are actually going to maintain high real estate levels. Search for real estate information, listings, and s. Are you looking for real estate in Cities or the surrounding area? has all the information you need about Real Estate, including neighborhoods and suburbs, new and existing homes, and Real Estate agents and mortgage brokers. Check The Board for more information. The condo market has been standing strong through the recent real estate trend. Although the real estate market has taken a dip recently, many analysts believe the condo market will continue to hold, and eventually be in a prime position when the rest of the market comes around. Its a wonderful time for buyers. In addition to a market trends being in their favor, they also have the opportunity to live in some of the cities newest and most magnificent buildings; It is clear that there has never been a better time for buyers searching for a luxury condo. provides real estate information and resources to guide homeowners and homebuyers through the process of selling and buying a house, condo or other property. has services to help you find a top local real estate agent, get the value of your home and a comparative market analysis (CMA), view real estate listings and your local MLS, prepare your home for sale, and more. Our Find a REALTOR service lets you screen top neighborhood real estate agents based on your needs, allowing you to choose the best agent to help you through the home selling or home buying process and ensure a successful home sale or purchase. Our Home Valuation service lets you get a professional estimate of the value of your house, home or other real estate property, and see recent comparable and nearby sales so you can assess what your home is worth. Our Find a Home service lets you view homes for sale across the nation, including listings from your local Multiple Listing Services (MLS), new homes, foreclosures and other sources of real estate listings. Our Real Estate Library contains articles to help you learn more about how to buy or sell a home, and how to choose and work with a REALTOR. Our Home Seller and Buyer Real Estate Tools can help you prepare your home for sale and examine the economics of your home sale or purchase. Through our partners, we also provide financial services such as credit history, moving, new homes, foreclosures and other real estate services. better real estate mortgage. If this is your first time buying a home, then start by reading the article, How Much Home Can I Afford? Then use the easy calculator to find out what the payments will be. You can find current mortgage interest rates on the right column. You may find that your best option is one you haven’t thought of yet! Read through the descriptions of different types of until you have a good unserstanding of your financial options. Then you will be able to make a better, more informed decision. there’s no need to guess as to where the rate will be next year or in 15 or 30 year. The ARM, of course, is an adjustable-rate mortgage whose interest rate can go up or down.At first glance, an ARM looks like a heckuva good deal next to a fixed rate. The average ARM rate nationwide is less than the average fixed-rate. So far that looks like a no-brainer, right? But there’s a gamble involved, and ARM buyers can get burned as a result. With an ARM, your payments are lower for the first three or four years, and will stay low — provided interest rates in general don’t skyrocket. If they do, the lender typically will adjust your ARM rate upward by a maximum of 2 percentage points a year, and a max of 6 percent over the entire loan period.An ARM that starts out at, say, 5.80 percent can increase to 7.80 percent in the second year, to 9.80 percent in the third year, and to 11.75 percent in the fourth year. Over that period your monthly payment would shoot up from $582 to over $1,000.On the other hand, when most interest rates are in a decline, such as during a recession, that tends to keep ARM rates low.How rates are computed Few homebuyers understand how ARM rates are computed: For the first year only, the lender uses a teaser rate to get you in the door. In the second year, he starts tying the rate to a publicly known index such as Treasury bills or the 11th District Cost of Funds. To that he adds his margin, usually 2.75 percent, to arrive at your ARM rate for the new adjustment period. But that rate is capped at the 2-percent-maximum-per-year described above.Who should get an ARM?When should you get an ARM — or not get one? It depends on two things:How long you plan to remain in your home. The unpredictable direction of interest rates.A family that probably won’t move again for five or more years should NOT consider an ARM at this point because fixed rates are relatively low. Better they lock up a 30-year fixed-rate at 7.25 percent to 7.5 percent or thereabouts.By contrast, homebuyers who believe they’ll be in their house for only four years or less will probably save money by opting for an ARM. Though their ARM rate will rise over that short time frame, the bottom line, in dollars and cents, is that the buyer’s total cost will be less than that with a fixed rate. Fannie Mae (FNMA) and Freddie Mac (FHLMC) are large agencies that purchase mortgages on a secondary market. They set a limit on the maximum dollar value of any mortgage which they will purchase from an individual lender. Currently, this limit is $417,000, but this changes every now and then. This leaves a portion of the market to look elsewhere for placement. Other large investors, such as insurance companies and banks, step in to fill the need with maximum amounts going to the $1 million or $2 million range. The average interest rates are typically greater than normal for conforming mortgages, and vary depending on property types and amount. Home Mortgage doesn’t just advertise luxury properties: we offer tools to help you manage your finances toward investing in those properties. These financing services certainly are not limited to lending; they can be used for investment capital, cash-out refinancing, personal or business purposes.

## Posted by Dan at 07:38 PM ##

 

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