West Palm Beach mortgage, Boynton Beach , FL home loans, real estate loans, home finance information – Todd Dawkins, www.MortgageCreditCare.com

Florida Housing Market

Feb. 2011

February 25th, 2011 8:21 AM

Florida Housing Market

The Florida housing market this year started out with a boom.
As of January 1^st it was like someone turned on the spigot, with people coming out of the woodwork to purchase homes.

I believe there is a little pent up demand as people waited on the sidelines, scared to make a move, with all the negative publicity in the news regarding the housing market as well as buyers thinking mortgage rates and housing prices may still move lower.

What has happened though is that interest rates are moving higher, and quite fast I might add. It seems the markets are taking control of the interest rates out of the FED's hands and demanding higher rates mostly due to inflation fears.

To add insult to injury the GSE’s of Fannie and HUD are
simultaneously increasing their costs to consumers for the loans that they buy or insure (which are nearly all of them).

Here are the loan level pricing adjustments starting April 1^st of this year.

These price increases are for a conventional loan with 20% down payment:

If you have 740 credit scores or higher even in the 800’s it will cost you .25% to pricing. On $200,000 loan that’s a $500 increase (for having perfect scores).

A 680 score to a 740 will cost a .25% more as well. This is on top of an increase they added this past year bringing the total cost to 1.75%.
Remember when a 680 score was considered A-Paper good credit?
Now it costs you the consumer $3500 on that same $200,000 loan.

FHA is getting into the game with there 2^nd increase to their mortgage insurance in the past year.

Come April 1^st they are increasing the monthly mortgage insurance rate by .25%. This monthly premium went from .55% last year to .90% now it’s going to 1.115%. On a 200,000 loan that’s $185.83 per month compared to $91.66 for that same loan just one year ago.

It’s no wonder people are getting off the fence and if you are fence sitting you may want to get off as well before these price increases take affect.

Love the Sunshine, Check out my website I'm adding video. Todd Dawkins Let me know what you think :)
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Here is a quote for you :)

"Life is like a roll of toilet paper.....the closer it gets to the end, the faster it goes.

So have fun, think 'good thoughts' only, learn to laugh at yourself, and 'count your blessings!!!!!!!"

Everyone seems to be in such a hurry to scream 'racism' these days.

So, the customer asked, "In what aisle could I find the Polish sausage?"

The clerk looks at him and says, "Are you Polish?"

The guy (clearly offended) says, "Well, yes I am. But let me ask you something.

If I had asked for Italian sausage, would you ask me if I was Italian? Or if I had asked for German Bratwurst, would you ask me if I was German?

Or if I asked for a kosher hot dog would you ask me if I was Jewish? Or if I had asked for a Taco, would you ask if I was Mexican?'

If I asked for some Irish whiskey, would you ask if I was Irish?"

The clerk says, "Well, no, I probably wouldn't!"

With deep self-righteous indignation, the guy says,

"Well then, why did you ask me if I'm Polish because I asked for Polish sausage?"

The clerk replied, "Because you're in Home Depot."

WARNING......................CFL LIGHT BULB

This was sent to me from a friend:

Below is a picture of a CFL light bulb from my bathroom. I turned it on the other day and then smelled smoke after a few minutes.

Four inch flames were spewing out of the side of the ballast like a blow torch! I immediately turned off the lights. But I'm sure it would have caus ed a fire if I was not right there.

Imagine if the kids had left the lights on as usual when they were not in the room.

I took the bulb to the Fire Department to report the incident. The Fireman wasn't at all surprised and said that it was not an uncommon occurrence.

Apparently, sometimes when the bulb burns out there is a chance that the ballast can start a fire. He told me that the Fire Ma rshall had issu ed reports about the dangers of these bulbs.

Upon doing some Internet research, it seems that bulbs made by Globe in China seem to have the lions share of problems.

Lots of fires have been blam ed on misuse of CFL bulbs, like using them in recess ed lighting, pot lights, dimmers or in track lighting.

Mine was installed in a normal light socket.

I bought these at Wal- Mart. I will be removing all the Globe bulbs from my house. CFL bulbs are a great energy saver but make sure you buy a name brand like Sylvania , Phillips or GE and not the ones from China .

Dangerous Globe lightbulb

Posted by Todd Dawkins on February 25th, 2011 8:21 AMPost a Comment (0)

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