Tips for the outside of your house will be make sure your lawn is freshly cut and edged. Prune all bushes and trees. Make sure the trim and front door has a nice clean look. Curb appeal is the first impression a potential buyer will see.

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Here’s how it works

Yard Sign Works 24 hours a day, 7 days a week encouraging people to “tune in”. And they do!

Buyers hear features that make the home special. It stands out, sells faster and for top dollar.

This is a high tech product that I use for sellers. For all you “For Sale By Owners” give me a call and ask me how this will help sell your home faster at top dollar.

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Jacksonville, FL – Interest rates are on the rise and many home owners who have adjustable rate mortgages may see increases in their forthcoming annual adjustments.

Federal Reserve Chairman Alan Greenspan made it clear in 2004 that the Federal Reserve would be increasing short-term interest rates at a “measured pace.” With the US Dollar at its weakest point in seven years, oil prices unstable and the evaluation of other economic indicators, the Fed Funds Rate was hiked seven times from 1.0% to 2.75% since June 2004 in an effort to curb inflation. Some economists believe it won’t stop until the Fed Fund Rate hits 4.0%.

Consumers with revolving debt accounts tied to the prime rate have seen the effect through rising interest rate charges, as the prime rate always rides 3% above the current Fed Funds Rate.

Mortgage interest rates are affected indirectly by these changes. An increase in the Fed Funds Rate has an impact on financial markets as a whole, but mortgage rates may go up or down based on the perception investors have of current economic statistics and their reaction to the Federal Reserve’s after-meeting statements.

In general, when economic data indicates we have a slow-down occurring in our economy, investors tend to sell off stocks and reallocate that money to the safe haven of bonds and mortgage-backed securities. The purchase of mortgage-backed securities drives interest rates down. When economic data says there is growth in the economy, the stock market typically rallies and mortgage-backed securities sell off to fuel that stock market rally. This drives mortgage interest rates up.

Our current market reflects the reaction of investors reading between the lines on comments made by the Fed, and mortgage interest rates are going up. This will have an affect on home owners with adjustable rate mortgages (ARMs) tied to indexes that are based on short-term interest rates. This includes the 11th District Cost of Funds, 12-Month Treasury Average (MTA), London Inter Bank Offering Rates (LIBOR) and others.

This doesn’t mean that everyone with an adjustable mortgage is in trouble right away. Some indexes are more volatile than others. COFI moves much slower than other adjustable rate indexes, while the LIBOR fluctuates with more volatility. But remember, when an ARM adjusts, the new interest rate is a sum of the borrower’s fixed margin plus the current rate of the index the mortgage is tied to.

Consumers who foresee paying an interest rate that is significantly higher may want to consider refinancing to take advantage of the stability of a fixed rate mortgage.

This is also a good time for borrowers who started out in an adjustable rate loan due to a poor credit score to transition into a fixed rate loan if they can. Once a track record of making mortgage payments on time and in full has been established, this should have a positive effect on the credit score and there’s a good chance the borrower may now qualify for a loan with a lower interest rate.

As with any decision to refinance, it is important to take the terms of the existing loan, the cost of the new loan, and the borrower’s long-term needs into consideration. A qualified mortgage professional should help weigh out the options by providing a clear assessment of available loan programs for the consumer.

Andrew Medders is affiliated with Atlantic Bay Mortgage Group, Fl. a Licensed Broker Florida Department of Real Estate. Free consultation and a 10-Year History of ARM Indexes are available by calling (904)731-8823 ext. 305.

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Real estate transactions involved one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $100,000. If you had a $100,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $100,000 legal question, would you deal with it without the hlep of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of a REALTOR.

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Professional Advice - I will advise you of any necessary repairs and how you may best prepare your home for showing (this is known as staging). You will be kept up to date on the state of the market, the sale of similar properties and any other factors which may affect the progress of the sale.

Promotion of your home to other Realtors - The major selling points of your home will be distributed to other real estate firms throughout the community.

Signs - The highly respected CCarter Realty Group advertises your property 24 hours a day.

Notify Purchasers - I will use a advanced computer system to identify people who have been looking for homes in your neighborhood. They will be contacted and given the details of your property.

Open houses - If appropriate, open houses will be arranged and held during reasonable hours.

Advertising - I will advertise your home in appropriate publications and communicate our results to you. Also, I have a product called “Talking House” that would be used at your property that will be transmitted on AM radio 24/7.

Progress Report - Every step in the sales offer will be documented. My progress report will keep you up to date.

Pre-approved mortgages and financing guidance - Pre-approved mortgages which encourage buyers by letting them know the mortgage potential in advance. I will provide professional financing guidance to both the buyer and seller.

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No, say credit specialists. Such a move drives up the amount of their debt as a percentage of how much credit they have available to them, which created the widely used FICO credit scoring system.

Here’s why canceling cards can hurt a mortgage applicant:

As an example let’s say buyer, Mr. Jones, has five credit cards and a $10,000 limit on each of them, giving him $50,000 in available credit. Let’s suppose Mr. Jones owes $25,000 total. That means he’s using 50 percent of his available credit. If he cancels one credit card on which he owes nothing, he reduces his credit limit to $40,000 without reducing his debt. At the same time, having one fewer card means he’s using 62.5 percent of his available credit.

The bottom line: by canceling a card, Mr. Jones has given himself less wiggle room and cuts his credit score. So the bottom line is to keep all credit cards or work on getting your score higher by planning at least two years in advance before purchasing.

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There are a number of complaints on one-year warranties. Some of the most common: long response times and claims by repair people that the fixes aren’t covered under the contract. As a result, “The homeowner ends up spending a lot of time trouble calling, trying to get someone to do something.”

But others see value in the service, especially for buyers who’ve already sunk every spare dollar they have into the house. It is recommended and very important to have, as long as it’s a reliable company. And if the seller doesn’t pay for it, you should strongly consider if you’re the buyer to get it.

If you’re considering one, first research the warranty company. How will they select the people they send to your home? And what’s their track record? Check out the company with other homeowners, the state and any local or national consumer groups.

Are there complaints or pending actions? What are current and past customers saying about the company? If you have doubts, consider taking out a service contract for your heating or air condition with a local company that will actually perform the service. Another alternative: Put some cash aside specifically for home repairs.

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