HAPPY NEW Y EAR

I want to wish you all a very Happy and Healthy New Year. I cannot believe that the year 2007 is over so quickly. I look back over the year and wonder where it went. If you are thinking about doing anything with real estate this year, call me and I will be glad to help you. I believe that real estate is what keeps all other businesses thriving. If houses are being sold, there are many people involved in that transaction. If a new home is built that puts a lot of people to work; bankers, mortgage companies, lumber companies, builders, carpet makers, tile makers, painters, plumbers, heating and air workers, realtors, landscaping and on and on. Just sit in a house and think about all the people involved in getting the house completed. Buying land has always been a passion of Americans and foreigners that come to America.

Happy land hunting! Keep America strong!

Borrowers Get Year-End Gift from Fed

The Federal Reserve lowered interest rates today for the third straight meeting of the FOMC. What does this mean? Well, if you're looking to capture the best home loan rates, you need to act now. For those with an application already in process, you should probably lock your rate as soon as possible. And, for anyone who has yet to begin a loan application, what are you waiting for?

Rate Hikes on the Horizon
Despite this latest cut from the Fed, rates for many borrowers could actually increase soon. Why? Because Fannie Mae and Freddie Mac have recently announced 2008 Loan Level Price Adjustments (LLPAs) that are already starting to show up on lenders' rate sheets. LLPAs are automatic “penalties” based on credit scores, which tack on costs in the form of points or higher rates for most anyone with a FICO less than 720.

Back to The Fed
But, let's get back to the good news. The Fed cut the Federal Funds Rate, an overnight lending rate that banks charge each other and which influences the amount of interest consumers pay for various types of debt, such as credit cards, home equity lines of credit, and auto loans.

Since September 18th, the Federal Funds Rate has gone down 100 basis points. If you have a loan that is tied to the Prime Rate, this means your rates have been lowered a full point. But, for those seeking to obtain new financing, you must act now to take advantage.

No Time to Wait
Following each of the last two interest rate cuts by the Fed, home loan rates jumped higher a couple of weeks later. Remember, lower short-term rates are inflationary by nature, and cause consumers to spend more money. Because of this, long-term rates tend to increase as bond holders hate inflation and command higher rates as a result in order to protect their investments.

Because of these pressures and the upcoming Loan Level Price Adjustments, interest rates are going to rise. You need to get with your mortgage company now in order to secure the best deal you may see for some time.

This information prepared by
Clark Schafer, Security Savings Bank

Lowes Knows

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November 2007

You don't have to spend a fortune to make your living space a showplace. With a little creativity and a willingness to do things yourself, you can stretch your decorating dollar and get the "look" you want. Now is a great time to spruce up your interior, when the cold weather encourages all of us to spend more time inside. Print out and share these decorating tips with your clients and customers - just in time for the holidays. 7 Tips to Help You Decorate on a Dime Lowe's Gift Cards Make Great Holiday Gifts! Clients love to get gifts from their favorite real estate professional - you! Instead of a fruit basket or desk calendar, say "thanks" during the holidays by giving your clients a Lowe's Gift Card, to spend as they choose. And, through Lowes Program for REALTORS® you can save 5% when you purchase your Lowe's Gift Cards online. Order now and take care of your holiday shopping in minutes! LowesRealtorBenefits.com | Lowes.com | Contact Us | Privacy | Terms of Use Lowe's Companies, Inc. Customer Care (CON8) 1605 Curtis Bridge Rd. Wilkesboro, NC 28697 To unsubscribe, send us a blank e-mail by following this link. ©2007 by Lowe's®. All rights reserved. Lowe's and the gable design are registered trademarks of LF, LLC. No virus found in this incoming message. Checked by AVG Free Edition. Version: 7.5.503 / Virus Database: 269.16.11/1161 - Release Date: 11/30/2007 12:12 PM

Mortgage Rates Lowest in 2 Years

SAN FRANCISCO (MarketWatch) -- U.S. fixed-rate mortgages fell again in the latest week, according to Freddie Mac's survey released Thursday. The national average interest rate on the benchmark 30-year, fixed-rate loan averaged 6.10% in the week ending Thursday; it hasn't been lower since the week ended Oct. 13, 2005, when it averaged 6.03%. The current rate is down from 6.20% a week ago and 6.14% a year ago. The 15-year fixed-rate loan averaged 5.73%, down from 5.83% a week ago and 5.87% a year ago. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 5.86%, compared with 5.88% a week ago and 5.95% a year ago. "Interest rates for U.S. Treasury securities have been drifting lower this month over market concerns that the housing slump and stress in the credit markets could slow future economic growth," said Frank Nothaft, Freddie Mac vice president and chief economist. "As a result, interest rates for fixed-rate mortgages had room to slip lower this week."

Provided by:
Echo Wentz
Coldwell Banker Mortgage

Wichita Housing Market

The Wichita area housing market is still doing well. There are 2,833 single family properties on the market in the Wichita and surrounding area. Properties sold since January 1, 2007 in Wichita and the surrounding area totalled 5,732. The average selling price was $133,846 with an average of 38 days on the market. Homes sold ranged from $2,500,000 down to $2,000.

I can do a breakdown of what homes in your area are selling for and what you need to do to get your home ready to sell. I can also give you a breakdown of an area you may be interested in buying a home in.

Call me at 992,1563 or email me at sandy.clemons@coldwellbanker.com

Sandy Clemons
Coldwell Banker, Stucky & Assoc.

Hello

This is my first post to my new blog. I am a Real Estate Agent in Wichita Kansas and I want to help you with all your real estate needs. I can help you buy, sell or answer questions you may have about the process. There are many steps in real estate transactions and you need a real estate agent to help you with it. I know people don't like to pay a commission, but it has been proven by statistics that by using a real estate agent, you will make more money in the long run, spend less time buying or selling and you have a professional that will work just for you either as a buyer's agent or a seller's agent. In my future postings, I will explain the processes and what an agent owes you when you are working with them.