NEW YORK (CNNMoney.com) — Mortgage applicants rejoice!

Sunday’s federal takeover of Fannie Mae and Freddie Mac will likely translate into lower mortgage rates and greater availability of credit, experts said. Rates could drop by 1 percentage point from the stubbornly-high 6.39% for a 30-year fixed rate mortgage.

“This could be good for would-be homeowners,” said Tom LaMalfa, managing director, Wholesale Access, a research and consulting firm. “It would reduce the cost of financing at the new and improved Fannie and Freddie.”

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I am often asked: “Are we at the bottom of the bottom?”

With this new law and some other indicators like “The national home ownership rate — defying all gloom and doom predictions — jumped to 68.1 percent in the latest quarter, up from 67.8 percent”, I think this is it I truly believe it.

More home buyers mean more home sellers. Where do those sellers go? Yes to buy more hoses. The wheels of the Real Estate Market are starting to move, we are going some where.

First Time Home Buyer Derrick R was denied. Twice he was told No by 2 people.

The seller’s Realtor suggested he call a mortgage advisor she knows who can work miracles…
Working with a professional mortgage advisor like Racheli Smilovits can work miracles for you too.
How knowing someone like Racheli can assist you?
Please give us your comments right here below.

  How you take advantage of the falling home prices.  

1. Before You Jump In The Car Shopping Get pre approved.
   Many people just get Pre-Qualified for a loan. This is not enough. Pre-approval is real- you provide all the necessary documents needed to be approved for a loan with a lender. You get a conditional approval from a lender for a dollar amount you qualify for. So that you will know all the conditions that will make this loan possible.

Are you a seller that had the agonizing conversation with your realtor about price cutting several times over?  This is a real case study we had a couple of months ago.
A team of Realtor Lender helped a home sell in under a week, after being on the market for 8 months. Before we start let me make sure you understand one VERY IMPORTANT FACT. If you continue to TRAIL THE MARKET, i.e. reducing your price as the market goes down; you have LITTLE or NO CHANCE to sell any time soon. Sorry I have to be so blunt.Position yourself A HEAD of the market to get a buyer interested to come and preview your home.Got it? Great. Here are 5 actions we took and the home IS SOLD. Follow them to increase your chances for a “SOLD” sign.
The facts.

Here are 5 tips that will help you score your sellers motivation level. Use it as another tool to help you in the process when buying a home

1. How many homes in the subdivision, Neighborhood, or condos are for sale?
   If over 30% are for sale give the seller 10 points
   If over 20% are for sale give the seller 6 points
   If over 10% are for sale give the seller 4 points

Are you finding it hard for you to pick the Home that is best for you?

A realtor posted this question on our forum: We are working with a client who “want to see everything”. This is the second Saturday in a row that we are out all day showing them 10+ properties. We have tried to narrow her focus to specific areas but to no avail. There are still a LOT of homes left to see! Any ideas on how to explain to this client that it does not serve her best interest to view 10+ properties at a time.

Written by Kenneth R. Harney Realty Times
January 11, 2008 

What’s the hottest subject right now in residential real estate investing?

No question about it: Picking up houses at great prices through short sales-transactions where lenders agree to take less than they’re owed and allow financially-stressed home sellers to avoid foreclosure.

One top specialist we talked to — Raffi Tal of iShortSale.com in Los Angeles — has nearly 900 transactions currently in process, concentrated mainly in places you’d guess-California, Nevada, Arizona and Florida.

Written by Kenneth R. Harney Realty Times
April 11, 2008 
Here’s some good news for investors interested in “short sales” — that’s where home owners who can’t afford their mortgages sell their houses at substantial discounts, often below what they owe on the loan.

Fannie Mae, the single biggest player in the American mortgage market, plans to crank up the pace of short sales on properties in its bulging portfolio. Fannie intends to “streamline” procedures to enable pre-foreclosure sales to speed through what is currently an extended, and often complicated, process.

Written by Kenneth R. Harney Realty Times
April 14, 2008 Realty Times

There are literally dozens of bills on Capitol Hill that are aimed at relieving the mortgage and housing crisis. Some of them — like FHA reform — have been bouncing around for months with no final action.

On the House side right now, what could be the mother of all housing-relief bills is taking shape. Reportedly it will roll together reform of Fannie Mae and Freddie Mac, plus all sorts of new add-ons, including a $300 billion authorization for FHA to buy up and refinance delinquent mortgages held by private lenders.