Rates Dropped Some...Good news for Buyers!

We always talk about the minimum monthly payment society we live in. For 80% of people this is really important and of course for good reasons! The good thing is mortgage applications were up this last week nationally and rates were down just a tad bit...so what does that mean? Well if you can get a great deal on a Panama City Beach Florida Condo or a Panama City Beach Florida Home you can save some monthly money! A little extra cash is always needed whether it's Panama City Real Estate or anywhere else in the country.

Take a look below at a few points that were brought out and national rates:

Daily Real Estate News August 27, 2008Mortgage Demand Up Slightly Last Week The volume of mortgage applications increased slightly last week, rising 0.5 percent on an adjusted basis to 421.6, compared with 419.3 a week earlier, according to the Mortgage Bankers Association weekly survey.On an unadjusted basis, the index decreased 0.9 percent compared to the previous week and was down 31.2 percent compared with the same week a year ago.Both refinances and purchases were up slightly. The refinance index increased 0.3 percent and the purchase index rose 0.6 percent.Interest rates declined slightly:
30-year fixed-rate mortgages decreased to 6.44 percent from 6.47 percent;
15-year fixed-rate mortgages decreased to 5.94 percent from 5.99 percent;
1-year ARMs increased to 7.15 percent from 7.07 percent.Source: Mortgage Bankers Association (08/27/2008)

For your searching convenience take a few minutes to dig around online at http://www.randbcoastalrealestate.com/ to see what property is available in and around Panama City and Panama City Beach Florida Condo's market.

Freddie Mac Steps in To Help

We do need some assistance and this looks like a good step. We have a forum section set up on www.InvestSmarter.com and would love to know your thoughts and feedback on this idea and other ways the government can help and be of assistance.

Daily Real Estate News August 1, 2008

Freddie Mac Gives Lenders Reason to Help

Freddie Mac is encouraging loan servicers to work with borrowers by increasing its rewards for successful mortgage workouts.Beginning Aug. 1, Freddie is paying servicers $500 for each repayment plan and $800 for each loan modification on Freddie-owned mortgages. Servicers will receive $2,200 for each short sale.Freddie also will reimburse a servicer up to $15 per mortgage for leaving a door hanger and up to $50 per mortgage for knocking on a door that results in the borrower contacting their servicer.Freddie also will increase the time it gives servicers to negotiate with delinquent borrowers in Washington, D.C., and 20 states with fast foreclosure processes, Freddie Mac said.Source: The Associated Press (07/31/2008)

This can help the Panama City Beach Florida Condo market and many other markets across the country. We need to stop the total downward spiral and look to the future to see what is truely coming out.

For more information on Panama City, Panama City Beach, Destin and Fort Walton Beach Florida please visit us online at www.RandBCoastalRealEstate.com for all of the MLS listing information today!

Let's Swap....Real Estate that is!

In today's market everyone needs a niche...so what about swapping? That's right...let's just trade property. It's a great idea if you are wanting to reinvest and not just cash our or if you are looking to make a change one way or the other. This is something we will be adding to www.InvestSmarter.com in the coming months and would wecome everyone to provide their feedback in the forum section. But take some time to read below. Very interesting information:

Daily Real Estate News June 30, 2008Can't Find a Buyer? Then Find a Swapper Several Web sites have sprung up to connect owners interested in house swapping ... not just for a vacation, but for good.The concept is similar to a conventional sale. Both parties need to agree on the value of their properties and secure new mortgages. Any difference in value is paid either in cash or by wrapping it into the new mortgage.Some of the Web sites charge a small fee. Others are free to users. "It's like a dating service for home sellers," says Greg Holt, CEO and co-owner of Pad4Pad. "We're bringing people together."Site managers urge swappers to use an appraiser, home inspector, and either an attorney or a real estate professional to shepherd them through the closing process. Some real estate professionals are charging flat fees to manage swaps, Holt says.
Source: Los Angeles Times, Frank Nelson (06/29/2008)

For more information on what is for sale or available in Panama City Beach and Panama City Florida go to the new site of www.panama-city-beach-florida-real-estate.com and see what's out there. If you want to search for a few condominiums in today's market check out www.panama-city-beach-florida-condominiums.com for more information and what is floating around for sale today! Hey a trade might just be the way to go!