Mortgage Update from Logan Tinder, C&F Mortgage Corp.

Mortgage Update From Logan Tinder, C&F Mortgage Corp:

Due to the short week and Thanksgiving holiday, as expected, rates suffered last week. Ticking up about half a point.

This week so far, the EURO is considerably weaker as European debt fears continue. The EU approved a $113b bailout for Ireland over the weekend but the reaction the last few days has been poor. Rumors continue to swirl about Belgium, Portugal and Spain being next. When things like this occur we usually see some flight to quality buying of US debt, which has been the case as of late. This will drive up bond prices (higher demand) and in turn drive rates back down.

As long as there is tension or global uncertainly, mortgage rates will tend to benefit. As mentioned above, US Debt is still viewed as a safe spot to park money.

How the data releases pan out the rest of the week, will certainly play a role in the direction rates will take into the beginning of December.

On tap:

-ADP Employment Report
-Q3 Productivity
-ISM Index
-Employment Report

The Employment report serves as the most important data release every month. An increase in unemployment will likely pressure rates downward...SO THIS IS THE TIME TO BUY!

Have a great week and please let Logan and/or I know if we can assist in any capacity!

Logan Tinder
C & F Mortgage Corp.
Home Mortgage Consultant
Direct : 804-858-8325
Cell : 804-240-9264
Main: 804-858-8300 ext. 305
Fax : 804-419-8481
www.logantinder.com

Refinance or Refinance Not, That Is the Question!

http://www2.timesdispatch.com/business/business/2010/nov/25/b-jean25-ar-675645/


With interest rates at historical lows, the question a lot of people are asking is "should I refinance, if I am able?" Given the state of the Real Estate Market and home values at or close to the bottom, is it even an option?
In the article below, Jean Chatzky discusses some important variables one must analyze before moving forward with this process. If you have any additional questions or concerns regarding your particular situation, please don't hesitate to let me know and I can get you in touch with a lending professional for more information.
I hope everyone has a safe, delicious Thanksgiving Holiday filled with the company of family and friends celebrating all we have to be thankful for this year.

Hard to believe it can happen!

http://www2.timesdispatch.com/business/2010/nov/20/b-harn20-ar-665561/

If you are in the market to buy, sell, or refinance your real estate, be aware that the current state of our economy could have a negative effect on your credit score without you having to do a thing. You may be in good standing with your creditors, practicing safe financial discipline, and POOF your lines of credit are cut, ultimately killing your credit scores!
Today's lending institutions have their hands tied regarding how much they can lend and to whom they may lend to; anyone with "less than perfect" credit will have a tough time getting a loan or refinancing their existing loan and that is a fact. The above article discusses legislation hoping to stop this plague, and for everyones sake, let's hope they are successful.
Be sure you know where you stand by taking advantage of annualcreditreport.com or calling (877) 322-8228. These resources allow you to obtain a free credit report once a year without hurting your credit scores.
And of course, please do not hesitate to contact me for further assistance and I can put you in touch with a leader in the lending field. Thanks!

Tenants Beware

Hightened scrutiny is an essential responsibility of Renters in today's market. Be sure you know what you are getting into, and who you are getting into it with, before you make a final decision.

In today's issue of the Richmond Times Dispatch, Jean Chatzky lays out a set of precautionary measures to ensure a pleasant renting experience (http://www2.timesdispatch.com/business/2010/nov/18/b-jean18-ar-660634/). 

In today's world you can never be too careful; whether you are looking to Rent or Buy, I am here to assist in any capacity!

IMPORTANT LISTING UPDATE

Mary Munford Area 

5707 Bromley Lane

JUST REDUCED TODAY $10,000

NEW LIST PRICE: $254,950!!!

The Loft's at Cary Place

1921 West Cary Street Unit A 

OPEN HOUSE THIS SUNDAY

NOV. 21st FROM 2-4PM

$225,000



Country Club Hills - 7 Lots FOR SALE $120,000-$260,000

Hanover's Premier Country Club Community

on the South Anna River

Beautiful lots from $120,000-$260,000 for a limited time.  All lots are on The Hanover Country Club golf course and/or overlook the South Anna River.  No proffers and public utilities!!!

1913 B West Cary Street - FOR SALE $255,000

The Lofts at Cary Place - Commercial Office Condo

Office Condo in convenient up and coming Fan Location, amidst the Cary Street corridor revitalization project; close to restuarants, interstates, and other businesses and great business visability on West Cary (15,000 Vehicles Per Day per VDOT records). Currently bringing $2100/month and tenant could convey for term up to one year. Tasteful buildout office space with bathroom and kitchenette. 4+ parking spaces in rear lot and first come first serve on street parking. Heat Pump and Central Air, new building finished in '07. HOA association takes care of all exterior maintenance for only $150/month.

4805 Lockgreen Circle - FOR SALE $1,095,000

Lockgreen 

Very stately home with incredible center hall and great floor plan with vaulted ceilings, wonderful built ins, all brick and slate with elegant details, interior mouldings and trims are exceptionally handsome with tall ceilings, gracious formal rooms, old world craftsmanship, sophisticated style and flexible floor plan for today's living. First & second floor master suites, professionally decorated, butler's pantry wet bar, lots of recessed lights, sunny & cheerful rooms, library with private bath. Incredible presence & extraordinary, picturesque setting. Rear yard is fenced with a large brick terrace. Matured lot with professional landscaping. Highly desirable gated community in convenient Cary Street location.

2550 Radstock Road - FOR SALE $479,000

Salisbury

Meticulously maintained Dutch Colonial in sought after Salisbury Subdivision on Salisbury Country Club Golf Course. Screened gazebo & deck. Remodeled kitchen with new cabinetry, granite countertops, breakfast bar, appliances, & tile floors. Large utility room off garage. Refinished hardwood floors throughout rest of home, with remodeled MASTER Suite & half bath on the first level. Heavy moldings throughout. Maintenance free brick and vinyl exterior. Upgraded electrical pre wired for generator. New tilt out vinyl windows throughout. Accomodating Driveway. 2 pull down attics, great storage. Vaulted ceiling in great/sun room with gas fp. New Ductwork/New Heat Pump/New Gas Furnace '05. 50 year dimensional asphault roof '04. ONE CAR GARAGE BUT ENDLESS POTENTIAL FOR MULTICAR OPTIONS!!!

12202 Ashton Glen Court - FOR SALE $179,900

UNDER CONTRACT

Heritage Oaks

This home is an unbelievable deal in the West End!! It has been completely redone and the owners are sad they have to leave, but they are being relocated. It has an open floor plan with vaulted ceiling. The kitchen is new and both bathrooms have been redone. It is on a quiet cul-de-sac lot. It is convienently located near interstates, shopping areas, and restaurants. It has new ductwork, new landscaping and drainage system for the entire yard. It has NEW everything: front door, storm door, ceiling fans, fixtures, appliance, hot water heater, vinyl siding, maillbox, sump pump, vapor barrier in the crawl space. It has been freshly painted and has new flooring throughout. It has a stained deck and 10x10 detached storage shed. A new gas fireplace, moisture remedition system, AND a new asphault driveway to park your car!!

5707 Bromley Lane - FOR SALE $264,950

Mary Munford Area

Cute as a button cape cod on a quaint street with friendly neighbors in the sought after Mary Munford area. The shops and restuaurants at Libbie and Grove are just a walk away. It is centrally located near St. Mary's, Westwood, and interstates. The exterior was just recently painted and it has a new HVAC system. The kitchen was redone with new counter tops, cabinetry and shelving, paint, and stainless steel appliances. It also has a fully fenced backyard with a screened in porch and slate patio great for entertaining. It boasts an upstairs master suite with two bedrooms on the first floor. A spacious living room is complete with a gas fireplace. The formal dining room has heavy moldings. Hardwood floors throughout the first level, and there is newer carpet in the upstairs master. The utility room has a stackable washer and dryer. Don't miss this great opportunity!! The seller is offering a $3,000 credit to refinish the hardwood floors and paint. Ability to assume current FHA loan.

4632 Grove Avenue Unit #7 - FOR LEASE $950/mo.

Westhampton / Libbie, Grove

This gorgeous second floor condominium has an awesome location...a quick jaunt from the shops and restuarants at Libbie & Grove. Completely upgraded throughout. Rent includes everything but phone, internet, and cable. HOA Dues, Other Utilities, Etc. are all covered by owner.

1921 A West Cary Street - FOR SALE $225,000

The Lofts at Cary - Residential Condo

This is a contemporary Loft in Fan located between CaryTown & Downtown! It was built in 2007. It has unique features mixed with Old Richmond charm. Two balconies with front and rear city views.  Palladian windows combined with a 22 foot ceiling allow lots of natural light. Spacious floorplan ideal for entertaining! Huge great room flows to open stainless steel and granite kitchen and hardwood laminate floors. $150 HOA fee and inexpensive utilities! Downstairs stackable washer/dryer. Bedroom & full bath on first floor. True Master Suite upstairs with walk up/walk in closet.  Designated parking for owner and guests.