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Real Estate Marketing (The Podcast)

How do I get a listing or deal? #Investor #Realtor

Short Sales are BACK!

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GUESTS: 
Bryant Tutas 
407-873-2747 
Co-founder of www.ShortSaleSuperstars.com. Working Short Sales every day all day.

Real Estate Broker and Owner of Tutas Towne Realty. A virtual Real Estate company specializing in listing and selling Short Sales and REO properties in the Central Florida Area.

Finding solutions that get your property “sold” is what I do.

Folks, if you need to sell your home then give me a call today and let’s talk! 407-873-2747 All calls are confidential. I can help……

….if you’re facing foreclosure. www.CentralFloridaShortSales.com 
….if you need to sell a Holiday Home. www.BuyProperty.ning.com 
….expose your property to over 500 web sites. www.TutasTowneRealty.com 
….educate you on current market conditions. www.BrokerBryant.com

Mike Linkenauger 
904-733-4911

Main website http://www.short-sale-specialists.com

Short Sale Websites - www.ShortSaleHosting.com
Mike got his start in Real Estate in 2005 at the young age of 26. He immediately established himself as a top producer in the Jacksonville, FL market, moving into the top 1% of agents his first year in the business. As the Florida housing market became depressed in 2007, Mike shifted his focus and immediately found a calling in assisting home owners with a short sale. In no time he amassed an inventory of over 100 short sale listings and quickly established himself as one of the top short sale agents in the State of Florida. As his online presence grew, homeowners from other parts of Florida began contacting him for guidance with a short sale and to be connected with a local short sale agent.

Thousands of homes Foreclosed; Can you afford a Risky Loan?

The adjustable rate mortgage has been around for a number of years and it has helped a number of people afford the purchase of their first home. However, in the late 90’s and early part of the 2000’s some people took advantage of the low rates offered by ARMS and got in over their head. Before buying a home people should really look at all the factors involved with an adjustable rate loan and make sure it is right for them.

Fixed Period Varies

The vast majority of current ARM’s offer a well-defined period in which the interest rate is fixed. The defined period typically lasts from 3 to 7 years and can be as long as 10 years. After this defined period the interest rate will adjust based on the index used to calculate the interest rate.

Some people have well defined plans and can use the fixed period for meeting their goals. For instance, a military couple that has an assignment to a particular area could purchase a home using a 5 year ARM and use the time to live in the home with no worries about a change in interest rate.

However, people that are just looking at the low rates of the ARM’s and “hoping” that their income will rise in future years are taking a big gamble.

Rates Will Rise

Years ago when the ARM was first introduced it was always explained the same way. When the market took a dip the interest rate would lower accordingly and the opposite would happen when the market improved. However, the last few years have seen nothing but historically low rates. Getting an adjustable rate loan now ensures one thing; the interest rate will rise once the fixed period ends. The current rates cannot get much lower.

Thankfully, an adjustable rate mortgage will have some safeguards to protect borrowers. The amount of increase for the rate is usually capped each year as well as a cap for the duration of the loan. For instance, most ARM’s will not adjust more than 1% in one year and no more than 5% or 7% over the course of the loan. However, a 5% increase in rate on a $250,000 loan can increase a loan payment by over $700. Keep in mind that when the interest rate adjusts the new payment is factored over the remaining loan term. This can drive up the payment as well.

Plan Accordingly

All of this information points to one simple fact. People considering an adjustable rate loan need to plan accordingly. You should have some type of exit strategy in mind, whether it is selling or refinancing or paying off the loan in order to avoid some potentially hazardous conditions in the near future.

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