Jim Carey Exton Real Estate

Foreclosures are still popular

Jim Carey — Mon, 28 Feb 2011 18:31:00 GMT

There are still plenty of bank owned properties on the market. But don't overlook other listings because anyone that has their home up for sale right now is motivated by something - possibly they are about to go to foreclosure themeselves. The bottom line is that there are plenty of great deals out there. but not if you are selling!

Fannie and Freddie

Jim Carey — Tue, 15 Feb 2011 17:34:00 GMT

There is talk that there will be some changes, possibly elimination. of Fannie Mae and Freddie Mac within 3 years. This could, according to some, mean the end of the fixed rate mortgage in favor of adjustable mortgages. It is something to keep your eye on because it will affect how you will buy your next home.

Watch the market

Jim Carey — Wed, 19 Jan 2011 14:34:00 GMT

When is the best time to buy? Keep an eye on the market in your area to see if prices are beginning to rise over a 2 or 3 month period. This should indicate that the market has bottomed and it may be time to buy in order to maximize equity in the future. Also monitor the mortgage rates, as they will begin to rise as the economy strengthens.

Search The MLS

Jim Carey — Sun, 19 Dec 2010 15:26:00 GMT

Early next year I will be adding a feature that gives you a link to the same Multiple Listing Service that I use. This will allow you to search for homes anonymously. You will not have to provide any information about yourself but, of course, I will hope that you will contact me if you find a home that you like and want to have a showing.

Opportunity?

Jim Carey — Fri, 03 Dec 2010 16:15:00 GMT

The economy is in trouble and unemployment just hit 9.8% - the highest in 7 months. For most people, this means you should lay low and not do anything in real estate unless you have to. But if you are in a secure position, there are plenty of great deals out there - foreclosures, sellers desperate for an offer and all with the lowest mortgage rates ever.

Happy Thanksgiving!

Jim Carey — Thu, 25 Nov 2010 15:54:00 GMT

Enjoy the day, be thankful and don't forget our military around the world.

Housing Inventory

Jim Carey — Wed, 17 Nov 2010 19:23:00 GMT

Nationally, the inventory for homes for sale is at 11.1. This means that, if no new homes go on the market and home sales continue at the current rate, it would take 11.1 months to sell all of the homes currently for sale.

This means 2 good things for you if you are planning to buy a home: there are a lot of homes to choose from and not many buyers to compete with!

Mortgage Rates Predicted to Rise

Jim Carey — Fri, 12 Nov 2010 15:51:00 GMT

The Federal Reserve is planning to dump $6B into our economy, which should cause mortgage rates to rise from the current 4.25%. Now could be the time to buy (if you don't have a home to sell). Please contact me if you are considering a purchase so that I can set up a search to find the right home and then help you through the entire buying process - all at no cost to you.

Can you take advantage?

Jim Carey — Tue, 12 Oct 2010 15:52:00 GMT

People with good credit scores, no home to sell and enough funds for settlement costs can take advantage of a tremendous buyer's marekt. It is possible to save a lot of money right now because of record low mortgage rates (4.22%), home prices that are at 2003 levels and sellers who will be more than willing to negotiate a lower price or a mortgage lender that is just trying to recoup the cost of the mortgage. If you think you could take advantage of this climate, please contact me today.

Phightin' Phils

Jim Carey — Wed, 06 Oct 2010 13:34:00 GMT

It's October, so the Phillies must be starting the playoffs. They have made it for 4 straight years by winning the NL East. Bounced out in 3 games by Colorado in '07, winning their first World Series since 1980 in '08 and getting eliminated by the Yankees in '09. Now they have the best 3 starters in baseball - Halladay, Hamels and Oswalt (affectionately known as H2O.

Market Conditions

Jim Carey — Tue, 21 Sep 2010 18:43:00 GMT

With interest rates arouond 4.5%, lots of homes on the market, sellers willing to make a deal and FHA mortgages requiring only 3.5% down, you would think this is a great time to buy a home. And it is, unless you are fearful that you might lose your job in the near future or, worse yet, have been out of work for a long time. Things are not great for the majority of Americans considering the purchase of a home. It is a great market for cash buyers, investors or those who are very secure in their job situation.

Good News, Bad News

Jim Carey — Fri, 27 Aug 2010 13:05:00 GMT

The Good: it's a great time to buy a home - prices are down, sellers are desperate and mortgage rates are at an all time low (around 4.2%). You can save thousands of dollars buying in this market.

The Bad: mortgage money is harder to get, you may not have a job or think you will lose it in the near future and you have a house to sell.

Answer: be rich and pay cash!

Change the Clocks!

Jim Carey — Thu, 11 Mar 2010 21:15:00 GMT

Don't forget to turn your clocks ahead this weekend. With the winter that we have had nationally, that will be a great feeling!

Also, only 50 days left to qualify for the tax credits by having a signed agreement by April 30th. Let me know if I can help with that!

Snow storms slow the market

Jim Carey — Thu, 04 Mar 2010 20:03:00 GMT

Here on the East Coast we have been hit by 3 major blizzards in as many weeks. That has had an obvious effect on buyer traffic and many listings haven't had any showings during that time. But better weather is on the horizon - 52 degrees on Sunday and Monday coming up- and the clock change on the 14th will encourage more buyers to look at homes during the week. I'm ready for golf!

FHA Loan Changes

Jim Carey — Thu, 25 Feb 2010 14:48:00 GMT

There have been several recent changes in FHA loans, such as reducing the amount of seller assist that a buyer can get from 6% of the sale price to 3%. For information on other changes, please contact me.

April 30th is close!

Jim Carey — Thu, 18 Feb 2010 20:45:00 GMT

If you plan to take advantage of the $8000 first time buyer or $6500 current homeowner tax credits, you must have a completely executed agreement of sale by April 30th and have until June 30th to go to settlement.

Please let me know if you have any questions regarding the credits or other real estate matters.

Changes In FHA Loans

Jim Carey — Thu, 11 Feb 2010 15:44:00 GMT

There have been several recent changes in FHA loan requirements:

Mortgage insurance has been increased from 1.75% to 2.25%. This will not have a huge effect since it is over the life of the loan.

Downpayment required: 3.5% with a credit score above 580, 10% with a credit score below 580

Seller assist: maximum of 3% of sale price vs. previous 6%

Great time to buy, Bad time to sell

Jim Carey — Wed, 03 Feb 2010 18:05:00 GMT

Homeowners are not putting their house on the market unless they have to - home values are low and buyers are going to try to get them lower. But there has never been a better time to buy if you are a first time buyer. Low prices, low mortgage rates, sellers desperate for an offer and - an $8,000 tax credit.

Townhouse for Sale

Jim Carey — Wed, 27 Jan 2010 15:35:00 GMT

Townhouse for sale in Marsh Harbour for $259,900. See my home page for pictures and more details. Located in the Downingtown School District, near the Village of Eagle and Marsh Creek Park. Great value in a desireable developement. Very close to Pennsylvania Turnpike and Exton shopping.

Tax Credit

Jim Carey — Thu, 14 Jan 2010 15:50:00 GMT

The tax credits for first time home buyers and current homeowners will expire on April 30th. It is important to get pre-approved for a mortgage so that you are ready to show a seller that your are qualified. It also lets you know how much home you can afford and what your monthly payments will be.

Please contact me ASAP if you plan to buy a home and get the tax credit.

Happy New Year!

Jim Carey — Wed, 30 Dec 2009 20:26:00 GMT

I hope you and your family have a Happy, Healthy and Prosperous New Year! Remember that the tax credits for First Time Buyers and current homeowners require that you be under contract by April 30th and settle by June 30th. There should be an increase in listings after the first of the year as current homeowners put their home on the market in an attempt to get the tax credit. Most of these will be condos and townhouses that owners want to sell in order to move up to a single family home.

Four Months Left

Jim Carey — Wed, 16 Dec 2009 14:20:00 GMT

The tax credits for first time buyers and current homeowners, $8,000 and $6,500 respectively, require that you be under contract by April 30th and go to settlement by June 30th. Please contact me if you plan to take advantage of either of these programs so that I can help you get started with the process.

Perfect Storm

Jim Carey — Mon, 07 Dec 2009 19:04:00 GMT

For first time home buyers, there has never been a better time to buy. Right now, every single factor that can be helpful in getting a "good deal" are in place.

- mortgage rates are at an all time low, staying between 4.6% and 4.85%

- lots of homes have been reduced in price so that we are at 2003 prices

- sellers are desperate to make a deal since there home has been on the market a long time and they are feeling pressure

- last but not least, there is an $8,000 tax credit available until April 30th (must be under contract by then, have until June 30th to settle

Foreclosures

Jim Carey — Wed, 02 Dec 2009 20:33:00 GMT

If you are interested in foreclosed properties, you can now search for them on ReMax.com. The search information is at the top of the first page. If you find properties of interest, please contact me and I will provide more complete information and set up a showing appointment.

More Foreclosures in the Future?

Jim Carey — Wed, 25 Nov 2009 17:28:00 GMT

It is estimated that 1 in 4 homeowners is underwater with their mortgage - their home is worth less than the mortgage amouont. This may cause more homeowners to go into foreclosure, which would further reduce home prices. We'lll just have to wait and see if that happens, but if you plan to purchase a home prior to April 30th to take advantage of one of the tax credits, you will have a decision to make in the next few months.