Interest Rates

21 10 2010

Right now the rates are at historic all time lows! The current Freddie Mac rate is 4.35% On their website I just checked the monthly rates and this is a record low. Their chart only goes back to 1971 – 39 years; but there has NEVER been a month before this low!

Smart buyers are calculating this right now more then trying to predict “market bottom.” For example on a $200,000 home loan at this rate the Principle and Interest would be $995.62/month. Total cost in 30 years = $358,423. Now suppose the market price of the house moves up or down 10% before you make a move. Up to $220,000 – $1095.19 = $394,268. Down to $180,000 – $896.06 = $322,581. So about a 36k swing over 30 years.

Now what happens when the interest rate moves back into “normal levels”? The average for the last 39 years is about 9%; but let’s just take 6% for example. $200,000 @ 6% = $1199.10/month = $431,676. That is over $73,000 more! Twice as much increase in actual cost as a 10% swing in property value. Wow!



29 04 2010

Coldwell Banker’s Buyer Bonus Event
Jere Webb

Almost everyone knows that the $8,000 Tax Incentive for “first time” homebuyers as well as the $6500 incentive is set to expire on Friday 4/30/10.

Well here is an innovative marketing plan from Coldwell Banker that is rolling out this weekend nationally.

Short video. Enjoy :o) Play Video

April 15 Tea Party in Boise

13 04 2010

April 15 Tea Party Rally – 10:30am at Julia Davis Park, 11:30 march to the Capitol.

If you want to participate, here is a parking coupon and a map showing available parking lots:



I plan to be there because I am concerned about the direction our government is heading – I want to show support for what I view as a better way – YES we need:
***Lower taxes to stimulate growth of jobs in the private sector
***Drastic reduction in government spending and a reduction of the Federal Debt
***True reform of Health Care in America that doesn’t move us further toward socialism
***Less government interference in our lives
***Secure borders and fair treatment of legal immigrants
***To Eliminate the immoral practice of “Earmarks.”
***A common sense energy policy that will end our dependence upon foreign oil
***Rewards for working people, rather than those who choose not to work
***A better system to get elected for service in Washington DC
***A complete overhaul of the tax system so that it is fair
***And most importantly, a recognition of the important role that faith in God has played in this great country

Wow! I could go on and on because what is happening right now seems to be just the opposite of all of the above and more! If this resonates with you, I hope to see you on Thursday at the Rally! As citizens who love our country and respect the sacrifice of so many of our youngest and bravest in defense of our freedom, how can we keep silent at this critical time in our nation’s history!