The Time is Now!

Dear Friends,


Most everyone is aware that there are great deals in the real estate marketplace, that mortgage interest rates are low, and that the federal government is issuing an $8,000.00 tax credit to first time buyers that close before November 30, 2009. My question is, “Are people really grasping just how much money they can save?” Rather than ponder and wonder, a real life scenario is below:


In 2004, a 1,200 square foot ranch styled home sold in the City of Kentwood for $141,000.00. Mortgage interest rates at the time were approximately 6.5%. The tax and insurance costs on the home totaled approximately $2,500.00 per year, or $208.00 per month. Considering a down payment of 3.5%, or $4,935.00, the house payment in 2004 was approximately $1,081.00, including taxes and insurance, for a 30-year mortgage.


Well, that exact house sold again in 2009, and for a sale price of $73,000.00! With today’s interest rates hovering around 5.25%, and a sale price $68,000.00 less than in 2004, the monthly payment, including taxes and insurance, is $603.00 per month for 30-year mortgage. That’s a savings of $478.00 per month, or $172,080.00 over the term of the mortgage! Down payment on the 2009 amount of $73,000.00 is $2,555.00, rather than $4,935.00. First time homebuyers receive a stimulus payment of $8,000.00 to boot. Whoa!!!!


Buyers, especially first time buyers, should run not walk to the nearest phone and contact us at 616.257.7940. We are experts in buyer representation, foreclosed properties, finance, and especially, customer service. We look forward to your referrals and promise to utilize all our resources in an effort to “exceed expectations.”

The time is NOW!



Sincerely,

The Northouse Team


Jeff Northouse and Malinda Root


Closing costs assumed paid by seller/Equal Housing Realtor/ Do not consider this is a solicitation if you are currently listed with another Realtor/ APR not calculated/Scenario mentioned above on record with County assessor