My phones are ringing off the hook and Christmas is a week away!
I have first time home buyers and investors alike calling me and we are GETTING great deals! There are plenty out there but the low priced foreclosure inventory is quickly going away. One of my buyers is getting a fantastic deal on a 3 bedroom townhome in Leesburg priced at $88k! (Of course, I got it for him at less than the asking price AND with closing costs paid by the seller/bank that owns the property).
Yes, it needs some work and yes, it's "as is" so be aware that these properties need some elbow grease. My client has only minor repairs to make and already has a signed lease with a renter that more than covers the mortgage payment. There are now only 3 in that neighborhood available and the prices are going up slightly due to the demand.
Yesterday's rate cut will not immediately affect mortgage rates but my investor mentioned above is getting a very good rate of 7.125% and that's on investment money with great credit and 20% down. Rates are decent. The Fed is trying to stimulate the economy with an influx of cash so why not take advantage?
First Time Home buyer? I have several lenders that offer EXCELLENT packages and rates for first time buyers with little or no money down.
Maybe you are are a regular buyer who just wants to move? We can help there too. General real estate is moving - it really is despite what you hear in the media. Don't believe the hype - get the real info from someone who is out here every day writing contracts.
If you have been considering investing in a rental property or a home for yourself - NOW is the time.
I can be reached at 703-966-7036 or via email at kelgaitten@aol.com. I'm never too busy to help you- I welcome your calls and inquiries!
