The federal government's multi-billion-dollar bailout of bad mortgage debt could be a game-changer for home buyers, sellers and real estate professionals.
But how much may not be clear for months, maybe even a year.
In the short term, according to Jay Brinkmann, chief economist for the Mortgage Bankers Association, the government's plan to greatly expand purchases of mortgage backed securities by the Treasury, Fannie Mae and Freddie Mac, should "provide a signal to the market that there's going to be an underlying floor on (interest) rates." Now, although rates should remain low, currently they're close to 6 percent for 30-year fixed rate loans on average -- that doesn't mean it'll be easier to qualify for a home purchase if you've got damaged credit or an income too low to pay for what you want to buy.
For neighborhoods hard hit by foreclosures -- and the distressed owners themselves -- that will definitely be a game changer. Call your trusted Realtor - Dessi Held, today 805-796-7792
ZIP Code: 91301 Location Characteristics: AGOURA HILLS: Is located on the western edge of Los Angeles County in the foothills of Santa Monica Mountains. Agoura Hills, is just forty-five minutes away from busy downtown Los Angeles, but is nevertheless rich with beautiful hills and inspiring canyons. Old Agoura is known for its custom homes on large lots with horse property and many beautiful tree-lined streets. If horse property is not what your looking for, not to worry, because Agoura has something for everyone, from Condos and Town homes to beautiful tract homes in wonderful developments as well as custom homes. Agoura residents take pride in the small town feel of its community yet upscale atmosphere
About Dessi Held:
I am dedicated to put my energy and experience to work, to help families realize their greatest dreams. I 'am committed to full service from start to final close of escrow. Helping first time buyers, investors and families relocating to the area. When you want to make the most of your next move, call Dessi today and get results in weeks! Speaking fluently Bulgarian & Russian language
805.796.7792 visit my web site at: www.DHeld.com
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
