Rob Stewart Lake City Real Estate

Got the news this week that Taylor Bean was shut down.  A sad day for mortgage brokers and Realtors.  Taylor Bean had been one of the biggest players in the residential mortgage business.  They focused on the customer with the best rates, and one of the few big banks with empathy.  The sudden shut-down surprised everyone.
http://www.mortgagenewsdaily.com/08052009_tbw_shuts_down.asp

What this means for the customer, is increased turn times, higher rates, more thorough examining of every file. I supposed it is good in the long run to really hold these banks accountable to a very high standard, but the fact is: The ability for a lot of mediocre credit buyers to get a good loan is going away again.  As we see underwriting start to tighten up, and rates start to rise again, this can only mean a further deterioration of housing prices.

The First time home buyer credit expires in about 3 months.  If you are looking to buy, do it now for three primary reasons:

1. $8000 tax credit
2. Great interest rates (still under 6% as of today)
3. The ability to get financing

Prices will keep sliding for quite a while, but look at these numbers:
A $150,000 house financed at 5.25% is $852 per month.
that same house could drop 10% to $135,000, and at 6.75% would costs more, $876 per month.

We may or may not see another 10% drop in housing prices, but you decide where rates will return to:
http://mortgage-x.com/trends.htm

• 1,206 sq. ft., 2 bath, 3 bdrm single story - MLS® $144,900

Quail Ridge, Lake City  -  Almost new home, and was recently completely redone. New carpet, paint, tile, appliances. This is a very clean and well decorated home, and the best value of any other house out there.

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• 2 bath, 3 bdrm single story - MLS® $169,900

Lake City, Columbia County  -  Beautiful new home being built as we speak!! It has a beautilful front porch with enough room to sit out on those wonderful nights! This hoe is being built by a German Builder, so you will see alot of the unique touches that come along with the home!

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• 2,449 sq. ft., 3 bath, 4 bdrm single story - MLS® $257,000

Lake City, Columbia County  -  This is a beautiful split-level home that sits on .6 acres in a quiet subdivision. Once you walk in to the foyer you'll see the kitchen that overlooks the den with stoned fireplace. 2 screened in patios, one in the back and one upstairs in the master bedroom! Also a 2 car garage with a paved driveway and a beautiful yard with established trees!

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• 1,719 sq. ft., 2 bath, 4 bdrm single story - MLS® $218,900

Rolling Meadows, Lake City  -  This wonderful home is being constructed as we speak!! When you walk in you'll see the very spacious great room. The master bedroom has a master bath that includes shower and bath, his and her sinks, a private toilet. Beside the kitchen you have a dining room on one side and the utility room on the other. This 4 bedroom, 2 bath has plenty of space for a growing family!

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Sanderson, Baker County  -  The lot / land at 22915 Paige St has been sold.

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• 2 bath, 3 bdrm single story - MLS® $192,000

Wise Estates, Lake City  -  Beautiful home in a great subdivision. This home includes 3 bedrooms and 2 baths. Kitchen includes stove, Microwave and diswasher. As you walk in you will also see dining room and living room. 2 car garage with Garage Door opener for easy access.

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