Appraising in Delaware, the Blog...

Lately, we have seen some amazing concessions that sellers are offering in Kent and Sussex.  From TV's to boats.  Free mortgages to no HOA dues.  Sellers are going crazy.  Here are the top examples of what is being offered in our area:

• When a free car isn't good enough.
• One community on Route 13 is offering a free car with a new home purchase.  Everyone has heard of this old gag so the builder decided to make it more current.  The sign says, Free 33 MPG car with new home purchase. 
• This market is HOT!
• A builder in Kent County has a sign at the model that reads, It's Hot - Free Lemonade inside! 

Please email any funny ones to us and we will start a top ten. 

Today borrowers read the news about the Freddie and Fannie takeover and called their bank.  Not to check on the bank's health, but to apply for a loan.  Check out this article in the washington post. read the article!

If you are in the lending loop, contact those loyal customers and see if they want to refinance.  With rates dropping for who knows how long, it is a great way to show your clients you are at the top of your game.  Nothing builds customer loyalty like saving money does. 

Today the markets reacted to the word that the $200 billion bailout of Freddie Mac and Fannie Mae.  As of 12:30pm Eastern, the Dow was up 187.92.

Fed Chairman Paulson lamented that the decision to bail out the two mortgage giants was needed but was "not something I wanted to do."

Despite the positive reaction in the market, many analysts cautioned the Fed's decision.  Shareholders took the initial beating as shares dropped like lead balloons.  Freddie was down 80% to $1.02 per share and Fannie fell 85% to $1.09 per share. 

While shareholders lose millions, the New York Times reported that the CEOs of each company stand to make $14.1 million (Freddie) and $9.3 million (Fannie) in severance, benefits, and parting gifts. 

What do you think about the bail out?  Drop us a line and let us know.