June 2021 Residential Lending Successes and News

Good morning to the Joys of June, 

No Surprises, Just Good New:

Home sales are healthy and home refi’s – incredibly strong. 

Sellers continue selling and Buyers are ready for action. 

Confidence is steadfast in Real Estate. The Good News: Fake fears did not slow the American spirit, nor our drive for success. Equally: We have gained a sense of joyful appreciation of our homes. They are far more important than even facts and data. Instead, they speak to the joy of people, families, and neighborhoods. In this, let us be thankful. And how is this achieved? It begins in solid preparation. It is the key and the sooner the better, even now. Call today.

A lot of information packed in these couple pages. Market News, Successes, a bit of What We Do, and will finish out with a quote of wonderful insight from a foreign spokesperson.

Points of interest:

  • Housing: Year over Year: cash buyers: 17 % to 21 %, inventory down 21 %, values up 13 %… not what one would expect from a world wide recession, aka CoVid.
  • Stock market: Puttering along sideways. Issues: Not the media, but the actual doings of our elected officials. This includes taxes, regulation, immigration, and importing CoVid. So far, the confusions of DC rhetoric is not hitting the stock market. 
  • Refi: Mortgage rates remain good. But, with a decent bump upwards. If you have been waiting on the sidelines, the wait is over. Call today. Don’t be caught off guard. Don’t miss out.
  • Interest Rates: Low Rates remain the reason to Buy. Yet, with inflations fears, rates are again moving higher. We may have serious supply-chain problems, on many fronts 
    • Conventional loans: Tracking high 2’s, with cash-out refiance running a bit higher. 
    • VA rates and FHA ratesIf a Vet? Call today.  Fixed still in the low 2’s. Plus Veterans refi special: 1) Refi from conventional loan into a VA loan, and 2) Rate-reduction refi’s have NO income, NO asset documentation. 
  • CA Jumbo: Yes to: Self-employed, Yes to: 80/10/10. Or, bigger down payment and no income / no employment documentation. Call. Let’s make it happen, today.
  • Underwriting: Purchases – first priority of the underwriterTurn around time can be a quick couple of days. Amen. How about Refinance? Patience wins. Best to start today.

Key to SuccessStart the paperwork today. Let talk.

Market News

1) US Economy: Consider inflation: Pre CoVid, Core-goods prices averaged 0 % inflation over the previous 20 years, whereas inflation for services, excluding energy, averaged 2.8 %.  This CoVid driven recession is the first where incomes rose, contrary to historical recessions. The long-term consequences are yet to be known or measured, but I fear negative ramifications of free money. 

2) EmploymentGood News – Bad News: Last weeks headlines talk of unemployment claims falling below 400 K – lowest since Covid shut down. Though a win, let’s not overlook that continuing claims rose by 170 K. Interesting and perhaps disturbing, the Number 1 problem State in the nation: California.

Above all, let us keep in mind, this is not a typical recovery nor a typical recession. One fear: Federal Reserve monetary policy and DC debt spending, may actually hinder free markets and job creation.

This makes planning and preparation key, especially when contemplating 

home ownership. Give a call, let’s talk ideas, money, and your possibilities. 

3) Real Estate: ‘Amazing‘ ! Don’t miss the excitement.

Success Stories

Key to Success: We continue to hammer out successes with Hammer the operative term. On one hand, lenders want to sell loans and promote an “easy” process. But then there is the reality of nuisance, nonsense, and delay. In particular are concerns about “Verifications”. Here is a fun example. You are ready to close earlier than expected. Everybody is happy. Then, the reality of Lender delay. Because the new closing date does not match the Insurance date, everything stops. This problem hits even the best qualified and is an extra burden, to the independent mortgage experts. It is an unfair structural problem, favoring big-boy lenders. but we know how to win and win we do. Let’t talk. 

Success Story: Multiple family members on title, yet only 1 or 2 are on the actual loan. We can do it and it is DONE. Our stories of successes continue. Why? Because we chose not to be stopped. 

Retirement? Few of us have a silver bullets solution? Yet there is a good likelihood we have built up significant equity in our homes. If true, this opens doors to solid options – a great gift for years of being disciplined and diligent. Question: How to take best benefit from this treasure. Good News: We have many tools to address your questions. Most important is our exploring the process together. 

I look forward to your call. Call today. We are here for you. 

We have a team of experienced agents, covering a full range of specialties. Give a ring. 

Highlights of How We Serve You 

1) Long-Term: Traditional financing.  The Good News: No age restriction.

2) Short-term: A great tool in this market of very low interest rates is Home Equity Lines of Credit (HELOC).  Perfectfor short-term ‘chunk cash’, plus the benefit of flexible repayment. 

2) Keeping One’s Home: Key is an interactive discussion. Let’s talk the benefits of keeping or selling. Is this home design best for any age limitations? Is there a willingness to relocate geographically? What about Estate planning concerns, outstanding debt, or simply meeting monthly expenses? What about Proposition 19? My job is to address your concerns and lay out straight forward solutions. Let’s talk. A call worthy of your time.

3) Reverse Mortgage: Often offered as a great way to eliminate stress, especially the monthly burden of the home mortgage payment. It stops, while adding new income, each month. Call.

4) Choosing to Sell: When Selling, Capital Gains taxes often become the make or brake. If so, I am here to show you how to defer – even avoid – potentially huge tax bill? Let’s talk. We can review the tools available and how to best benefit, when there is substantial appreciation.

The good news and great blessing: Helping turning stress into your benefit

We have options, proven tools, and the professionalism. From 1031 tax deferred exchange 

to several other well known strategies of great success. Let’s talk and start preparing today.

We are ready to help – today. We are a team of experienced, proven estate planners and tax preparers, using strictly approved IRS tax-deferral strategies. We offer helpful answers and strategic solutions for individuals and corporations – for decades. 

With election talk of higher taxes, now maybe the best time to act. 

Suggest: Start planning today, without delay. Your money matter. 

The Good News: Rates Remain Awesome

– New Homes or Refinance – 

Self-employed: Times are tricky, but we are here to take up your challenge – when you are ready. Let’s talk and review your unique situation. We can lay out workable options and best possibilities. I do love and stand with Small Business. Who cannot respect those daring to be self-employed – the backbone of America. They speak to the living spirit of our free enterprise system. Let’s stand together. Call today. 

Buying your next home: Two very helpful “tools”. 1) A client uses their old home, as collateral for their new home!! 2) A tool whereby one’s current payment on the “old” home, does not count against your client, while settling into their new home. Excellent. You need options, tools, and alternative ideas? We have them. Call today.

*** Keep Your Cash & Defer Taxes ***

Capital Gains Tax Deferral: Preparing for a major shift in your life, but tax fears are holding you back? This may include: Closely held stock, owner occupied real estate, or a small business. If this is you, we have excellent strategies to reduce or defer capital gains taxes. This means keeping more of YOUR hard earned investment dollars, working for you. You have questions? Please ask. We love finding answers that meet your specific need.

Our conversation: Tax deferred ‘1031’ and beyond.  Call today.

Renting but wanting to Buy?

We offer market-based calculations comparing renting vs. benefits of owning. Answers can be rewardingGood news:We look beyond boiler plate, typical big numbers. We understand ‘affordability’ is unique for each and every individual, and family. Our focus is to understand you, asking pertinent questions to help guide your financial future. Our concern is more about “live-ability”, and less about ‘how big a home can I afford.’  A big, first step made better.

Live Inspired And Motivated

A blast of inspiration from Alexis de Tocqueville, from Democracy In America:

“Americans of all ages, all conditions, all minds constantly unite.  Not only do they have commercial and industrial associations in which all take part, but they also have a thousand other kinds:  religious, moral, grave, futile, very general and very particular, immense and very small. 

Americans use associations to give fetes, to found seminaries, to build inns, to raise churches, to distribute books, to send missionaries to the antipodes; in this manner they create hospitals, prisons, schools. 

Finally, if it is a question of bringing to light the truth or developing a sentiment with the support of a great example, they associate.  Everywhere that, at the head of a new undertaking, you see the government in France and great lord in England, count on it that you will perceive an association in the United States.”  

I offer this as motivation for even more active voter involvement – and participation – in our unique electoral process. It is sacred and to be greatly honored. It needs to be protected at all costs. It is here we, as a nation, display our finest ‘coming together’ and confirms the author’s words noted many, many years ago.  It is the very expression of the American spirit and its personal freedoms. 

Call me – Your success is the first priority.