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The mortgage and real estate industries are bound by a series of rules, regulations, laws, and hopefully by ethics. While there has always been a few that have avoided or just plain disregarded the rules, most of those in the professions of mortgage and real estate have paid attention to the rules and were likely held to task when they didn’t.

The mortgage meltdown led to a huge collapse in the markets worldwide. Most responsible for the violation of trust placed with them have never been held accountable for their actions and some that were, didn’t suffer more than pennies on the dollar for their crimes, forget going to prison for a long time.

Today we are facing larger and more overt violations of rules and regulations than we saw prior to the mortgage meltdown and nobody seems to care! Major companies openly violate norms that have been well established and yet NOTHING happens.

How is it possible that these things happen in broad daylight and it goes almost accepted as part of the new world? How is it possible that companies can violate some of the most basic of all ethics in the real estate community, not communicating with or marketing to, a seller who is already listed their property with a licensed real estate agent and share with them specific strategies on how to terminate that agreement and the benefits of listing with a different agent, one that the company soliciting that seller will be happy to direct them to? You just have to go back last week to the National Real Estate Post and see their piece about the story of an agent in Washington State and wonder how this is possible, but nothing has even been done about it!

Is it possible that the National Association of Realtors® could have missed it? Is it possible that the local real estate board or the State of Washington could have missed it? Is it possible that collecting dues and thinking about what to lobby for is all any of these people are good for? Please go to www.nationalrealestatepost.com and look at the March 1st video. Then ask yourself what is going on?

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Posted On Monday, 15 March 2021 00:00 Written by

Words from a basketball coach- “Shooting means every time you catch the ball, your eyes go to the rim. By looking at the rim from any position, allows you to see everything that happens on the floor.”

When you are positioning yourself to score on your real estate or mortgage deal, you need to have your eyes on what you want to accomplish.  It might be buying a home in a particular neighborhood.  You may want to reduce your overall monthly debt by refinancing a mortgage. Knowing your comfort level on move-in costs and monthly payments helps you keep your view of the playing field in perspective. 

We have experienced the lowest rates we have ever seen several weeks ago.  February 2021 saw the price on rates start an upward climb due to the fear of inflation, actions, and comments by the Federal Reserve. Even though mortgage rates are not tied to the Fed Rate, the Federal Reserve somewhat controls the price you pay for your mortgage rate by the amount of mortgage-backed securities they buy.

We are seeing the highest values on homes. Corelogic Equity reported fourth-quarter 2020 showed that homeowners with mortgages saw their equity increase by over 16% year over year. The increased equity build-up helps home sellers position themselves well for more net profit selling their homes. 

The week of March 8th, 2021, was kinder to rates, inching down slightly.  What does the playing field look like to you with your plans to buy a home or refinance the one you have?  Are you going to make your play and take your shot to score?  Some people say you miss every shot you don’t take. 

Renters want a piece of the profit from real estate values.  They are playing some smart strategies to buy a home.   It’s competitive, but if you know what you want, you are prepared and play a good strategy, you can score on purchasing the home you want. 

Bo Binkins felt cramped for space in the city apartment.  He wanted fresh air and the wide-open space outside the city.   With the help of a low-interest rate and low mortgage payment on the 100% USDA Rural Housing loan, he moved his family and his fishing gear to his new home on a country road closer to his favorite fishing spot. Bo can brag about his zero-down home purchase with his monthly payment much lower than the rent he was paying in town for a smaller space.  

Karen had worked hard throughout her career.  She had sacrificed to invest in her retirement funds and hoped to have her home paid off by the time she retired. Retirement loomed ahead, and she realized with a slight bit of panic that her income would decrease, but her bills would still be high.  

Karen told me, “It suddenly hit me that I do NOT have to pay off the house. If I can refinance my mortgage back to a 30-year term on a rate this far below what I am currently paying for the 15-year loan, I can do more and live better with the extra freed up cash flow each month.”   

Realtors and mortgage loan officers can see the real estate market from high up in the press box. What opportunities do you see for your homeowners, home buyers, and home sellers?

As a real estate professional, you are in the press box with a top-down view of the opportunities available to your clients.   What winning strategies do you see right now? 

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