New Year Update 

Hopefully everyone had a great holiday season, Christmas, New Years, very busy and fun time.  Much news from the holidays and this week, both political and scary stuff.  Flying is going to get tougher and tougher and that is probably the plan of our enemies, but that is another story. 

Many responses from my little survey on the economy, it seems that confidence is not too high that home prices will stabilize and start going up.  Well it is too early in the year to call the game, so we will keep an eye on this.  

News that you can use… Never pass up the chance to visit with people, especially mortgage folks.  New and exciting programs coming out every day and some old stuff that still works.Sellers, did you know that you can contribute up to 6% of the purchase price to the buyer?  3% on conventional and 6% on FHA loan.  A good move vs. lowering the price.  Buyers, keep this in mind when negotiating.  You can use this money for a number of things, such as an interest rate buy down.Mortgage wraps could be coming back in style. In the late 80’s this was a popular way to get into a home.  Many things you need to know before getting into this boat, so talk to someone, Realtor, mortgage banker or attorney.  Another option in these crazy times.Josh Applegate with Primelending  went over these options when he stopped by.  Again, take time to visit with folks. 

January Realty Times news letter link below.  Hope you take some time and look over it.http://realtytimes.com/134/ScottScarborough 

The whole deal with this blog and the newsletter is to help keep you the buyer or seller informed on what is going on and some ideas on how to get a home sold or buy one.  If you have any personal experience that worked out well and want to share it, let me know and I will post it. 

Oh yes, buy of the week, can’t forget this.  Looking to build in the country?  Look no further. A 1.3 ac lot on Spring Creek Mesa.  We searched the MLS  prior to pricing, both sold comparables and what is on the market.  Average sold price in the last 12 months was around $77k.  Currently the lowest priced lot on Spring Creek Mesa is $69,900.  Our price $64,900.  We are way below sold average and below anything else.  This is a great lot in a great subdivision. This is not in foreclosure or a short sale, just a good deal and a sign that it is a good time to buy.  

Sincerely,Scott ScarboroughOwner/BrokerMontrose-realestate.comIf you do not want to receive these e-mails, please let me know.scott@montrose-realestate.com