XM Loans - The Mortgage Optimizer

"Be greedy when people are fearful and fearful when people are greedy," says Warren Buffet, one of the richest men on the planet. And with so much fear in the real estate market right now, you may be wondering now that spring is officially here, "Is now the right time to buy a home?"
Some market watchers say that one way to determine whether the time may be right for you to consider buying a home is to start looking at the rental rates in your community. When a full mortgage payment, including principal, interest and insurance begins to equal or fall lower than rental rates, the market is typically near the bottom, and you should see housing begin to stabilize.
The Loan Performance HPI is based on extensive data of more than 30 years of information on repeat sales transactions of specific homes and time between sales which CoreLogic states offers a more accurate "constant quality" view of pricing trends.
The point here is that, while the general media would lead you to believe that the sky is falling, things may not be as bad as they seem. In fact, if you eliminate the places hit hardest by price declines, you can see that the rest of the country is not nearly in as bad of shape.
When you compare the value of buying versus renting, which includes ownership, future appreciation, and stability, the choice is clear. It simply makes more sense to own right now than to rent in many communities.
For first-time home buyers, it makes even more sense to buy right now. Not only are home prices lower than they have been in the last five years, mortgage interest rates, at the time of the writing of this article, are getting better – this means your parents and your grandparents couldn't have secured a mortgage at a lower rate than you could've in the last quarter.
To add to this advantage, the government is offering first-time buyers (anyone who hasn't owned a home before) a stamp duty exemption that doesn't have to be paid back. What's great about this exemption is that it will potentially save each purchaser up to 6% in closing costs.

The more you want or need something, the more you are willing to pay for it. It's simple economics. Take housing, for instance. Inventories are up, fewer people are buying today as compared to a few years ago, and prices have declined.
As prices decline, builders build fewer homes. Even though new homes sales were recently reported higher for the month, the number still represents a decline in homes sales over the last 5 years.
With multiple-year declines in new construction, this simply means that as more people come into the market to buy a home, there will be fewer homes from which to choose, and prices will be forced higher.

For more information, email us at info@xmloans.com

From the President’s desk….

The substantive outcome of the Summit of the Americas is by all accounts, one that fell far short of expectations. While there was ample opportunity for photo ops and political posturing, the reality is that no significant inroads were made with respect to improving regional economies.

The unfortunate fact is despite the chummy conference photos, there continues to be a subtle resentment of the US by numerous member states. Only time will tell if this summit was a mere press junket for regional leaders, or a truly golden moment for real change to come to the Americas.

Your monthly mortgage tip:

Secrets Lenders don't want YOU to know!

loanSecrets

Contrary to popular belief; A borrower can manage the proceeds of a mortgage loan for the construction of a home or apartment!

However, like with most things in life, there are conditions that apply. Most people are amazed to find out that the conditions that qualify themn to manage their construction loan proceed are not exceedingly onerous. There are two main competencies that are required, and many persons that have them have not taken control of the construction funds because they were unaware.

To find out how to get a bank to allow you to manage your construction funds, email us at info@xmloans.com

KNOW THE FACTS – YOU CAN MANAGE THE FUNDS FROM YOUR CONSTRUCTION MORTGAGE LOAN !

1(242) 225-3873 or 1(800) 303-3934
www.xmloans.com

The material contained in this newsletter has been prepared by XM Loans Ltd. 404 Bay Street, PO Box N-4443, Nassau, Bahamas and independent feature contributors. The material provided is for informational and educational purposes only and should not be construed as investment, financial, real estate and/or mortgage advice. Although the material is deemed to be accurate and reliable, there is no guarantee it is not without errors.

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