Aventura FL home loans, real estate loans, home finance information – Kevin Grissom

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(Reduced) 1541 Brickell Ave #B1503, Miami FL 33129 $454,000

November 5th, 2009 1:33 PM

1541 BRICKELL AV # B1503, Miami, Florida 331292 2br / 2bth / 1,640 sqft. / Condo
$454,000 Reduced by $45,000 (9%)

LIVE AT THE PALACE IN THIS BRIGHT & STYLISH CONDO OVERLOOKING BEAUTIFUL BAY BY DAY & SPARKLE OF THE CITY BY NIGHT.2 BEDROOM 2 FULL BATH WITH DUAL EAST & WEST BALCONIES. OVERLOOKING POOL, UPDATED KETCHEN, WALK-IN CLOSETS & 24 HR SECURITY/VALET.

Property Type:	Condo
HOA Dues:	1025
Due:	Monthly
Garage:	Assigned Spaces-1
Parking:	Valet On Site
Heating:	Ceiling Units
Cooling:	Central Air Conditioning
Appliances:	Appliances, Dryer, Garbage Disposal, Microwave, Central Air Conditioner, Dishwasher, Garage/Space, Oven/Range Electric, Stove, Refrigerator, Washer
Pool:	Y
Listing Area:	Brickell
Neighborhood:	BRICKELL

County:	Miami-Dade
Garage:	1
Bedrooms:	2
Full Baths:	2
Sq. Ft.:	1640 *MOL
Built:	1981

Posted by Kevin Grissom on November 5th, 2009 1:33 PMPost a Comment (0)

Mortgage rates at five-week low

November 12th, 2009 4:59 PM

Long-term mortgages rates moved lower again this week, hitting the lowest level in five weeks.

Freddie Mac's weekly report says the average 30-year fixed-rate mortgage was 4.91 percent in the week ending Nov. 12, down from 4.98 percent last week. Rates on 30-year mortgages have been below 5 percent for five of the last seven weeks.

A year ago, 30-year mortgages were averaging 6.14 percent.

A 15-year fixed-rate mortgage averaged 4.36 percent this week, remaining below one-year adjustable rate mortgages, which now average 4.46 percent.

"Mortgage rates eased further over the week, helping to promote an affordable home-purchase market and stimulate refinance," said Freddie Mac (NYSE: FRE) chief economist Frank Nothaft. "This comes at a time when house price declines are moderating and consumer demand for prime mortgages at commercial banks has picked up."

The National Association of Realtors this week said third quarter housing prices were down an average of 11.2 percent from a year ago, but 20 percent of the top metropolitan ares saw positive annual growth.

Sales continue to rise, with third quarter existing home sales up 11 percent from a year ago.

The Business Journal of Milwaukee - by Jeff Clabaugh Washington Business Journal

Posted by Kevin Grissom on November 12th, 2009 4:59 PMPost a Comment (0)

NEW AND UPGRADED 2 STORY TOWNHOME $350,000 approx $1,863/mo (based on 20 % down)

November 9th, 2009 8:03 PM

5351 SW 40th AVE Fort Lauderdale FL 33314

Bedrooms: 3 Full Baths: 2 1/2 Baths: 1 Car Attached Garage (PLUS 2 PARKING SPACES IN FRONT OF PROPERTY) Sq. Ft.: 2116 Townhouse Built: 2007 MLS: M1132782

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Posted by Kevin Grissom on November 9th, 2009 8:03 PMPost a Comment (0)

Rate Lock Advisory - Monday Nov. 9th

November 9th, 2009 7:14 PM

Monday's bond market has opened up slightly despite early stock gains. The stock markets are rallying this morning, pushing the Dow to a one year high. It is currently showing a gain of 140 points while the Nasdaq is up 50 points. The bond market is currently up 3/32, which should improve this morning's mortgage rates by approximately .125 of a discount point.

There is no relevant economic data scheduled for release today. In fact, there is no relevant data scheduled until Friday morning. There are two important Treasury auctions this week that may influence mortgage rates more than the minor economic data that is scheduled. It is also a holiday-shortened week with the bond market closed Wednesday in observance of the Veterans Day holiday.

The stock markets will likely be a significant influence on bond trading and mortgage rates this week in addition to the two particular Treasury auctions. If the stock markets rally, we will probably see funds shift from bonds into stocks that potentially offer better returns. The Dow closed above 10,000 last week, but not by much. Therefore, if stocks fall from current levels early in the week, concerns about them being able to move much higher in the near future could lead to significant selling. That would make bonds more attractive to investors and lead to lower mortgage rates.

The two important Treasury auctions come tomorrow and Thursday when 10-year Notes and 30-year Bonds are sold. The 10-year sale is the more important one as it will give us an indication for demand of mortgage-related securities. They are usually sold on back-to-back days, but the Wednesday holiday pushes the first sale back to Tuesday. If the sales are met with a strong demand from investors, we should see the bond market move higher during afternoon trading the days of the auctions. But a lackluster interest from buyers, particularly international investors, would indicate a waning appetite for longer-term U.S. securities and lead to broader bond selling. The selling in bonds would result in upward revisions to mortgage rates.

Overall, it is difficult to predict just how active this week will be for mortgage rates. As expected, last week brought us quite a bit of volatility in rates. This week could be very calm or could be just as active as last week was. I don't believe the economic data on tap will be a catalyst. I think the key will be the stock markets and tomorrow's Treasury auction. If they give us favorable results, mortgage rates will likely close the week lower than this morning's opening levels.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Float if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

©Mortgage Commentary 2009

Posted by Kevin Grissom on November 9th, 2009 7:14 PMPost a Comment (0)

More time for homebuyers tax credits

November 9th, 2009 7:09 PM

Posted by Kevin Grissom on November 9th, 2009 7:09 PMPost a Comment (0)

Homebuyers Tax Credit Extended

November 4th, 2009 11:03 PM

The $8,000 1^st Time Home Buyer Tax Credit has been extended to April 30, 2010.

Homebuyers who have not owned a home in the previous three years have the same eligibility as 1^st time buyers.

Existing homeowners who have lived in their property for at least five consecutive years in the previous eight years will now be eligible to receive up to $6,500 tax credit to buy a new home.

Income eligibility is up to $125,000 for singles tax payers or $225,000 for couples filing a joint return.

Homebuyers will have until the end of April to execute a sales contract. They must close on their new home by the end of June.

The tax credit is not available for homes sales above $800,000.

The credit is claimed using Form 5405, which you file with your original or amended tax return.

The credit may give you a refund even if you do not owe any tax.

A HUD-1 Settlement Statement must be attached to the tax return to secure the credit.

The credit must be repaid only if the home ceases to be your main home within the 36-month period beginning on the purchase date.

Posted by Kevin Grissom on November 4th, 2009 11:03 PMPost a Comment (0)

Daily Rate Lock Recommendation - 11/03/2009

November 3rd, 2009 10:31 PM

Tuesday's bond market has opened in negative territory again despite early stock losses. The Dow is currently down 55 points while the Nasdaq is down 12 points. The bond market is currently down 5/32, which will likely push this morning's mortgage rates higher by approximately .125 - .250 of a discount point.

September's Factory Orders report was posted late this morning, revealing a 0.9% increase in new orders. This matched forecasts, therefore, has had little impact on this morning's bond trading or mortgage rates.

There is no important data scheduled for release tomorrow, but the FOMC meeting will adjourn tomorrow afternoon. There is almost no possibility of the Fed raising key short-term interest rates this week. But market participants will be looking at the post-meeting statement for any indication of when the Fed may make a move. The meeting will adjourn at 2:15 PM ET tomorrow, so look for any reaction to the statement to come during afte rnoon hours. Generally speaking, any hint of a rate increase coming relatively soon would be negative news for bonds and lead to higher mortgage rates.

Thursday's data is relatively important to the bond market. This report is the 3rd Quarter Productivity reading. It is expected to show a level of worker productivity during the third quarter equivalent to last quarter's final reading of 6.6%. Analysts have forecasted a 6.4% rise in worker output. A larger increase would be good news for the bond market because high levels of productivity allows the economy to expand without inflationary pressures being a concern.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Lock if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only

Posted by Kevin Grissom on November 3rd, 2009 10:31 PMPost a Comment (0)

Welcome to Kevin Grissom's Blog

November 3rd, 2009 5:54 PM

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Posted by Kevin Grissom on November 3rd, 2009 5:54 PMPost a Comment (0)