On Thursday of this week (1/8/09) Prosperity Mortgage had an interest rate of 4.25% for a 30 year fixed conventional loan with 3 points (the points can be paid by the seller). That is truly incredible. Alot of home owners are refinancing, because of the low rates, and banks have limited funds available to lend, so the word on the street is borrow now (buy now) rather than later. Many analysts say that home values are near 2003 prices, which is great if you are buying, but may make refinancing a challenge. The key to taking advantage of the great buying opportunities in this market is having two things - good credit and a good downpayment. With those two things, the opportunities abound.

Now, if you have been considering a purchase, but felt the house you wanted would require monthly payments that are just out of your range, well… @ 4.25% that house may have just gotten cheaper. Something to think about…

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Location: Gaithersburg, Germantown, Rockville, Silver Spring, Boyds, Poolesvillle…

Important details: Garage for 4 cars or 2 cars with the ability to do a shelter for 2 cars, a family room or rec room that is large & rectangular with reasonable ceiling height. NO HOA.

Acreage: 1/3 acre or greater

Bedrooms: 3+

Timeframe: ASAP

Price: Under $700,000 

Contact Gary Gestson at 301-646-0046 or gary@LNF.com

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This home can be in PA or MD, near Hagerstown.

• 4+ bedrooms
• Prefer main level master suite or bedroom
• yard
• Can settle very quickly
• Price: Under $400K

If you have a historic home that approximates this search criteria, we have a ready client. Please contact Gary Gestson at 301-646-0046 or gary@LNF.com.

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