Alpha Team Realty
 

 
David Gibbard
 
August 2008
Real
 
The Power of Team Work. Guaranteed Results
 
Copyright © 2008 Realty Times
All Rights Reserved.


 

 

 
Mortgage Rate Locks
Become Crucial


 
  An interest rate lock is always a good idea in any market. But it becomes a better idea when it's crucial to lock in an interest rate and other loan costs at a level you can afford.
      A changing market -- especially when the change is for the worst -- is one of those crucial times. During the first half of 2008, nearly a full percentage point separated the high of 6.45 percent in recent weeks and the low of 5.48 percent in January, according to Freddie Mac.
      Get off the interest rate elevator ride with an interest rate lock. A traditional rate lock is a lender's guarantee that your mortgage will come with a specific interest rate, points, other costs and terms. Most locks are designed to protect home buyers from rising rates, but those refinancing can also benefit.
      A rate lock's terms include a specified period for the lock. If you fail
 


 
Mortgage Rates
U.S. averages as of July 31, 2008:

30 yr. fixed:   6.52%
15 yr. fixed:   6.07%
1 yr. adj:        5.27%

 

 
 

 

View current rates


 

 

 

Last week, oil prices came down and the stock market had a nice move up. This was great to see, but we will need a lot more "fuel on the fire" to get our economy going and our housing market to heat up.


 

 
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Man's Best Friend May Be Costly When Selling

 
     As beloved as pets may be to sellers they can be a detriment to the sale of a home.
      One of the main reasons has to do with how convenient it is for buyers to see your home. There can be issues caused by the pets that make seeing your home more difficult than viewing other properties. For instance, if sellers have to be called first before their home can be shown this can make it less appealing to buyers and agents.
      "You've got issues of access because you might have special pet instructions such as remove pets prior to entering home," says Benjamin Little, Realtor with John Hall & Associates in Scottsdale, Arizona. He says that makes it so agents and buyers have to set special appointments. "And in today's market, anything that impedes a showing is a hindrance to selling the house," cautions Little. He adds, "There are so many properties out there for sale that if you've got special pet instructions and there are 10 properties, that on paper are


 


Credit Scores Remain Misunderstood

 
     Too many consumers still don't get it when it comes to credit scores.
      And what you don't know about credit scores can hurt you when it's time to buy a home -- especially in a tight credit market.
      Only 28 percent of consumers are aware they need at least a 700 credit score to qualify for a low-rate mortgage.
      Three of every four consumers incorrectly believe that credit scores are influenced by income.
      And even more, 79 percent, erroneously believe that credit scores can be obtained for free once a year. (They're probably thinking about their credit report, instead.)
      Those are among the findings of a new report, "Consumer Understanding Of Credit Scores Improves But Remains Poor" commissioned by the Consumer Federation of America (CFA) and Washington Mutual Bank (WaMu).
      First, your credit score is a number assigned to your creditworthiness.
      Your credit score indicates how well or how poorly you'll repay a debt. The higher the number, the more likely you'll repay on time.
      Your bill paying information on credit reports provides the basis for your credit score. Consumers who take the time to obtain their credit score, for only about


 

 
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New Monthly Feature: Forsyth County, North Fulton and West Gwinnett Real Estate Report
 
     If you would like to receive and in-depth analysis of the Forsyth County, North Fulton and West Gwinnett real estate market, including an analysis by price range (the numbers vary significantly based on price range) call our pre-recorded toll free order hotline at 877-411-9264 ID # 1625 or you can order it only line at www.ATLMLSdata.com.


 

 
Daily News and Advice

Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
 

 


 
More Articles

 

 
July Round Up: Housing Bill Approved
 

 
Washington Report: Tax Provisions
 

 
Re-examine Your Risk For Flood

 
Love The House, Hate The Traffic Noise -- There Is Hope!


 

 
David Gibbard, The Power of Team Work. Guaranteed Results
E-mail: gibbard@alphateamrealty.com
Web: http://www.alphateamrealty.com
770-886-3808

 
Alpha Team Realty, Inc.
770-886-3808
981 Old Alpharetta Road
Alpharetta GA 30005
 


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