Fredda Takacs’s Blog

What is happing with mortgage guidelines and interest rates; Now is the time to buy…

The Obama administration finds itself balancing the need to spur the economy through promoting the housing and mortgage market, while protecting banks and other investors from risky mortgages.   On February 11^th it presented a broad plan to begin shrinking its support of the nation™s mortgage market. While the plan lacked details or a timeframe, the resolution is far from certain and unlikely that it will be completely implemented in the next couple of years.   In the meantime, however, major mortgage investors (i.e. Fannie Mae and Freddie Mac) are will be tightening their underwriting guidelines to include smaller loans (in October the maximum size of mortgage backed by Fannie and Freddie will shrink), higher fees (The Federal Housing Administration is replenishing its fund by increasing monthly insurance premiums), and bigger down payments (current proposals provide for a increase to 10% for loans sold to Fannie or Freddie).   Each of these proposals aims to promote homeownership to those with the financial wherewithal, while reducing the risk present in the housing industry.   Long term, a more stable market is good, but buyers looking within the next year should be aware of changes.  

Interest rates continue to remain at historical lows, though they are up for where they were several months ago.   If you™re looking for a general rule of thumb: as the stock market goes, so do interest rates.   Outside of the recent employment report (which may have been skewed due to the winter storms), most economic releases have been positive lately, which accounts for the rising market and interest rates.  

2010 has come to and end and so has a tumultuous year in real estate and real estate finance.   The market held steady the first half of the year due to the extension of the homebuyer tax credit.   A combination of extremely low interest rates and the tax extension deadline positively impacted single-family home sales and prices across the northeast; (year over year CT average price +8.4%, MA +4.9%, RI+16%, Westchester County NY -.2%)

Considering the several winter storms in early 2011, most real estate markets in the Northeast have weathered them quite well (it™s difficult to show homes when the front door is covered by a snow drift).   Average sales price is up in most communities for the month of January (CT + 4.6%, MA +1.6%, RI -6.4%, -14.3%).   In general there are also more homes being offered for sale now than there were a year ago.   For more information on your specific town, visit raveis.com.

Throughout Fairfield and New Haven Counties in Connecticut, Call Fredda First at 203-259-6789 if you would like to  win $5,000  (with better than 1 to 50 odds!) as well as 49 other valuable gifts when  we  close on your purchase or sale OR someone you register with us  closes on a purchase or sale!  Prizes:        $5,000 Cash Grand Prize, PLUS
¢         I-Pod Touch    
¢         Flat Screen TV  
¢         Digital Camera  
¢         Gift Certificates to Local Restaurants  
¢         American Express Gift Cards
¢         AND other Valuable PrizesAT FREDDA’S GIVEAWAY PARTY, EVERYONE IS A WINNER!!!

Please call Fredda to refer your neighbors, family,  friends, or co-workers who:
*need a change       *want to invest in today’s hot market       *have outgrown their home   *need to downsize   *just got married         or…*have tried unsuccessfully to sell or buy a house¦

Tell them all, œCall Fredda 1st! Call Fredda 1st and work with the best! Fredda Takacs, Sales Vice President, has been named Top Producer and #1 in Customer Service for 10+ Consecutive Years in the #1 Office of the #1 Family Owned Real Estate Company in the Northeast: William Raveis Real Estate. For a Free Market Analysis of your home; to find the best home for your family; or to see a list of active Short Sales and Foreclosure Properties, call Fredda First at 203-259-6789 or email her at Fredda@FreddaFirst.com.     Call 203-259-6789 to register your referral or to make an appointment to sell or buy a home!  

Fredda Takacs has been named William Raveis Southport Office™s œNumber 1 in Customer Service three times this year.   She has received the award in February, June, and July by Linda Meyers, Manager of the Southport Office.    

Bill Raveis, Chief Executive Officer of William Raveis Real Estate, Mortgage & Insurance states, œFredda consistently exemplifies the talent and dedication to customer service that are the hallmarks of William Raveis Real Estate.   She is one of our star realtors who has achieved the title of Sales Vice President while ensuring that her customers receive the best real estate services in the industry.

Fredda Takacs, Sales Vice President, has been named Top Producer and #1 in Customer Service for 10+ Consecutive Years in the #1 Office of the #1 Family Owned Real Estate Company in the Northeast:  William Raveis Real Estate, Mortgage & Insurance.   Work with the best, call Fredda First for a free Market Analysis of your home or to discuss her exclusive buyer™s program. Call Fredda First at 203-259-6789 or email her at Fredda@FreddaFirst.com.

Check out this new property that I just posted on my Web site. It is in Southport.

Fredda  honored five times in 2009 for  exceptional service honors all the hard work of William Raveis Mortgage.   The recognition as top 1% FHA lender in the nation.    William Raveis Mortgage began in 1984 and  thrives because of its  ethics.   Our mortgage division surpasses the competition and works hard to  rank the top 1%  in the entire  nation.      William Raveis Mortgage  is a leader, through  experienced management,  sound underwriters and competitive rates.  

Fredda Takacs, Sales Vice President, has been named Top Producer and #1  in Customer Service for 10 Consecutive Years in the #1 Office of the #1 Family Owned Real Estate Company in the Northeast:  William Raveis Real Estate.   For a Free Market Analysis of your home, or a list of active Short Sales and Foreclosure Properties, call Fredda First at 203-259-6789 or email her at Fredda@FreddaFirst.com

During the Southport™s 2009 Billy Awards, Fredda  received the prestigious “2009 Excellence  in Customer Service Award.” This is the 11^th Consecutive Year Fredda has received this award, a distinction that Fredda alone holds in Raveis™s 65 Offices and over 2100 Sales Agents, earning her the title of Number 1 in Customer Service! Fredda also was designated as a member of the select President™s Club for 2009.     Bill Raveis, Chief Executive Officer of William Raveis stated, œFredda is one of Raveis™s Stars.   From the beginning when she won Rookie of The Year, Fredda showed that she had the skills necessary for success:   hardwork, high integrity, marketing expertise, skilled negotiations and excellence in technology.   She is one of our Sales Vice Presidents and has been an esteemed member of the William Raveis family since 1997.Fredda Takacs, Sales Vice President, has been named Top Producer and #1  in Customer Service for 11 Consecutive Years in the #1 Office of the #1 Family Owned Real Estate Company in the Northeast:  William Raveis Real Estate.   For a Free Market Analysis of your home, or a list of active Short Sales and Foreclosure Properties, call Fredda First at 203-259-6789 or email her at Fredda@FreddaFirst.com.

To qualify for the tax credit purchases that were  under agreement  (signed contract)  by April 30^th must close on or before June 30, 2010.   The tax credit program generated many buyers so in order to assure that loans are closed on time the following steps are to be taken:

1. All William Raveis Mortgage loan applications files should be in Shelton or Westford underwriting operations center by 5/14, any applications submitted after that date we will work to close by June 30^th will not be guaranteed to close on time.
2. Title and appraisal should be ordered as soon as the application is in hand and a tentative closing date scheduled with a closing attorney.  
3. Borrowers be prepared to submit as much as possible supporting documentation with the application to minimize time to review and process.
4. Schedule your closing for the week of June 21st or earlier if possible to provide some leeway for last minute title or other type issues that might cause minor delays.   This leeway will permit the loan to still close in June and thus qualify for the credit.

Stay in touch with your loan officer to be sure your purchase qualifies for the tax credit.

Fredda Takacs, Sales Vice President, has been named Top Producer and #1 in Customer Service for 10 Consecutive Years in the #1 Office of the #1 Family Owned Real Estate Company in the Northeast: William Raveis Real Estate. For a Free Market Analysis of your home,  or a list of active Short Sales and Foreclosure Properties, call Fredda First at 203-259-6789 or email her at Fredda@FreddaFirst. com.

Linda Meyers, Manager of William Raveis’s Southport Office named Fredda  ”No. 1  in Customer Service” for February, 2010.   Fredda is delighted to receive this honor.    
Bill Raveis, Chief Executive Officer of William Raveis stated, œFredda is one of Raveis™s Stars.   From the beginning when she won Rookie of The Year, Fredda showed that she had the skills necessary for success:   hardwork, high integrity, marketing expertise, skilled negotiations and excellence in technology.   Fredda has been awarded both Top Producer and Excellence in Customer Service for the past 10 consecutive years.   She is one of our Sales Vice Presidents and has been an esteemed member of the William Raveis family since 1997.
Fredda Takacs, Sales Vice President, has been named Top Producer and #1  in Customer Service for 10 Consecutive Years in the #1 Office of the #1 Family Owned Real Estate Company in the Northeast:  William Raveis Real Estate.   For a Free Market Analysis of your home, or a list of active Short Sales and Foreclosure Properties, call Fredda First at 203-259-6789 or email her at Fredda@FreddaFirst.com

Fredda Takacs, Sales Vice President, William Raveis Real Estate Awarded for œExcellence In Customer Service Five Times in 2009!  Linda Meyers, Manager of William Raveis’s Southport Office named Fredda  ”No. 1  in Customer Service” for December,2009.   Fredda is thrilled to receive this honor.      

Bill Raveis, Chief Executive Officer of William Raveis stated, œFredda is one of Raveis™s Stars.   From the beginning when she won Rookie of The Year, Fredda showed that she had the skills necessary for success:   hardwork, high integrity, marketing expertise, skilled negotiations and excellence in technology.   Fredda has been awarded both Top Producer and Excellence in Customer Service for the past 10 consecutive years.   She is one of our Sales Vice Presidents and has been an esteemed member of the William Raveis family since 1997.

Fredda Takacs, Sales Vice President, has been named Top Producer and #1   in Customer Service for 10 Consecutive Years in the #1 Office of the #1 Family Owned Real Estate Company in the Northeast:  William Raveis Real Estate.   For a Free Market Analysis of your home, information about Fredda’s Free Home Warranty Program, or a list of active Short Sales and Foreclosure Properties, call Fredda First at 203-259-6789 or email her at Fredda@FreddaFirst.com.