Buying or Selling a Home? What are you waiting for? Do it now before it’s too late!

ARE YOU THINKING OF BUYING OR SELLING?

What Are You Waiting For? Tomorrow May Be Too Late!!

The Obama administration and the Republicans are proposing Mortgage Reform. This reform would eliminate Fannie Mae & Freddie Mac, the two government sponsored enterprises that control half of the nation’s $11 billion mortgage market. Over the past 2 years the government has been involved in over 90% of all mortgages. The plan calls for the implementation of a system that would use private backed capital instead of Taxpayer’s money. The plan is to be implemented over the next 5 years and we are already seeing changes.

So how will this potentially affect you as a Buyer or Seller?

• MORTGAGE RATES: There will most likely be a limited supply of money in a Private Backed Mortgage System. Limited supply of money leads to higher rates. We are already seeing banks raise the FICO scores necessary to get the best interest rates, technically raising Mortgage rates. Higher rates reduce buying power and in turn reduce the number of Home Buyers.

• FIRST TIME HOME BUYERS: Since Freddie & Fannie have programs to help the 1^st time home buyer, their elimination would make it more difficult for these individuals to enter the Real Estate Market. It is also expected that Lenders will require more money down, 10%-20% vs. 0%-3.5%.

• TRICKLE EFFECT: Fewer 1^st time home buyers make it harder for present home owners to make the move up to a larger home for their growing family. Fewer Move-Up Home Buyers make it harder for Empty Nesters to sell their larger homes allowing them to downsize into their retirement home.

• HOME PRICES: Fewer Home Buyers, in all facets of the Real Estate Market, as well as Higher Interest Rates will cause Home Prices to fall. Following the Economic Basics of Supply & Demand we could have a double whammy. Less Demand & an Increase in Supply equals LOWER PRICES! In addition it is expected that there will be 1.5 million foreclosures in 2011 and that’s not including the large number of anticipated Short Sales.

About Ray Poppe

Operating with an Associate Broker License at Coldwell Banker Residential Brokerage in Connecticut & New York. I have been a realtor in the Greater Fairfield County area since 2005. Are you Buying or Selling a Home in Fairfield Connecticut, Westchester, Putnam or Bronx NY?? (Brookfield, Ridgefield, New Milford, Bethel, Newtown, New Fairfield, Bridgewater, Sherman, Southbury, Woodbury) Use my years of experience to get the job done! When representing you I will either get you the best house within your budget or sell your house on its strengths to get you top dollar. Give me a call & I will make your Real Estate experience a most pleasurable & successful one! Whether a First Time Home Buyer or Selling a Million Dollar Home I am there to help you through the process. BESIDES BEING A MEMBER OF: • National Association of Realtors • Northern Fairfield County Association of Realtors Hudson Gateway Associatoin of Realtors • Connecticut Association of Realtors • CT Realtor Champion Charter Member • Westchester, Putnam, Bronx MLS • CT Statewide Multiple Listing Service CTMLS AND HAVING THE FOLLOWING DESIGNATIONS: • Graduate Realtor Institute GRI • Accredited Buyer Representative ABR • Internet Specialist ePro • Seller Representative Specialist SRS I ALSO HAVE THE TOOLS TO GET THE JOB DONE: • Professional Website • Free Listingbook Account for Home Searching • Listings promoted on top Search Engines and websites for a Major Web Presence, such as Front Door, Cyber Homes, NY Times, AOL, Yahoo!, Home Finder & More. • Featured Home Ads on websites such as Zillow, Trulia & REALTOR®. • Listings featured on the Coldwell Banker regional, national and luxury websites. • Fairfield MLS & CT State MLS exposing your Home to a larger group of Realtors. • Custom Virtual Tours of your Home.

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