Here we go again! The constant whine about how hard it is to be in real estate because of the lack of inventory. How tough it is to deal with multiple bid situations, houses selling well over asking, blah, blah, blah, blah, blah! I might even buy into the challenges if it weren’t for a few things: • 2018 was a record setting year – highest from 2006• The 2019 came along and sold more homes than 2018• Then, despite COVID-19, 2020 surpassed 2019.  Now we are seeing projections from many groups that expect 2021 to outpace 2020, and 2022 to be even stronger. So I ask this again, “Why is everyone so upset that so many people want to buy houses?” You would think people would be happy? I remember when the housing market went bad and there was what seemed like years’ worth of inventory sitting with nobody to…
Posted On Monday, 03 May 2021 00:00 Written by
“After closing, you can paint an ugly house, but you can’t paint over ugly financing.” Jo Garner Real estate is still hot, and mortgage rates are still low.  When a home buyer gets his offer accepted, he had better be able to move –and fast.  As a mortgage loan officer, the best advice I can give anyone getting a mortgage is to get preapproved and compare more than one financing option.    When you sign the last paper at the closing table, you want the contented feeling of satisfaction, knowing that you made the very best decision. Here are some general rules of thumb to consider: 1. If you plan on keeping the mortgage for over five years, strongly consider getting a mortgage with a fixed rate and not a variable interest rate.  You will enjoy the stability of a principal and interest payment with a fixed interest rate that…
Posted On Monday, 03 May 2021 00:00 Written by
There are plenty of people around who have a lot to say about why things in the mortgage and real estate markets are a challenge. Many seem to spend more time looking to complain about why they aren’t doing better or how “hard” the job has become, then to spend time looking to see how much opportunity there is. Yes, it is likely that for originators who depend on 50 – 60 – 70% or more of their business last year, that 2021 is looking a bit scary as we roll into the second quarter. However, purchase business remains very strong, so strong in fact that people are complaining about how many people want to buy homes! The issue now is how to we continue to thrive as refinances shrink? First of all, refinances aren’t completely going away, they just aren’t as easy to sell since rates have come up…
Posted On Monday, 26 April 2021 00:00 Written by
There are plenty of people around who have a lot to say about why things in the mortgage and real estate markets are a challenge. Many seem to spend more time looking to complain about why they aren’t doing better or how “hard” the job has become, then to spend time looking to see how much opportunity there is. Yes, it is likely that for originators who depend on 50 – 60 – 70% or more of their business last year, that 2021 is looking a bit scary as we roll into the second quarter. However, purchase business remains very strong, so strong in fact that people are complaining about how many people want to buy homes! The issue now is how to we continue to thrive as refinances shrink? First of all, refinances aren’t completely going away, they just aren’t as easy to sell since rates have come up…
Posted On Monday, 26 April 2021 00:00 Written by
Some of the most common conversations I have been having with mortgage customers are those concerned with how much value they will get from the home appraisal. These calls come from customers who want to get a cash-out to refinance and remodel the home where they live.  We get calls from customers competing with multiple other offers to buy a home.  They want to know, “How much higher than the asking price should I offer for this home? Do you think it will appraise for that much?” Prices of homes are continuing to rise. The median home price of $329,100 is up this week 17%  year-over-year.  Mortgage rates are lower than they have been in seven weeks. Prices on homes are being pushed up by high demand from aspiring home buyers competing to buy and lock low fixed rates.    The forecast is for home prices to rise and for mortgage…
Posted On Monday, 26 April 2021 00:00 Written by
Arguing with an idiot is a lot like wrestling a pig, you both get dirty, but the pig likes it! In weeks and months past I have shared a number of commentaries on the misinformation and many of the false narratives put out into the market to downplay the housing market, this week will be no different. Please go back and look at all the rebuttal information I have shared with the whole “inventory” problem people are complaining about. Yes, unit numbers are low and remain low during a time of record breaking sales! Markets shift from buyers markets to neutral markets to seller markets. We are currently in a seller market. Last week I spoke directly to the “Forbearance Panic,” people are worried that will destroy the housing market! I shared how completely baseless the argument is and how all of the homes currently in forbearance would not and…
Posted On Monday, 19 April 2021 00:00 Written by
“Being challenged in life is inevitable; being defeated is optional.” Roger Crawford Values are high, and rates are lower than they have been in a few weeks. Pressure builds to  buy your first home or sell the one you have  in order to buy your next one.  Finding and financing your next home seems to run smoothly until you run up on some challenges.   How do you conquer challenges and move to your celebration day? Here are the four common barriers homebuyers face when buying their home. Lack of funds to close. When the bank account is short on funds, it is time to pull out the treasure map.  Can you borrow against your 401k retirement fund?  Do you have a cash value on a life insurance policy?  Gifts from family members are helpful. Look into local down payment assistance programs. Ask about getting a loan secured on a…
Posted On Monday, 19 April 2021 00:00 Written by
Has this ever described your day? You wake up in the morning rested and excited about your day. After doing yoga/gratitude journal/a walk (or whatever self-care you enjoy most), and eating a healthy breakfast, you head to your desk, ready to tackle the day.  You quickly deal with new emails and issues that need resolved, then focus on your prospecting calls.  Next, it’s time for your first appointment, and you arrive 15 minutes early.  After that, you pick up a salad and head to the park to enjoy your lunchbreak on a beautiful day. Feeling energized, you handle your afternoon appointments and a scheduled closing.  After handing over the keys to your excited new home buyers, you arrive home feeling happy that you were able to help someone’s dream come true. After a relaxing evening as you get ready for bed, you are filled with gratitude that you work in…
Posted On Tuesday, 13 April 2021 00:00 Written by
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