Good morning to June,
I was fortunate to have enjoyed two specific presentations, these past weeks. One was Dr. Doug Duncan, chief economist with Fannie Mae and second, Chris Thornberg, chief economist with Beacon Economics. You will find a few of their helpful insights below and in future emails.
For those who like details and data, here is an insightful link into current numbers for Santa Clara County – single family homes. And if you have an interest in a specific MSA or other County, across the country, phone or email me for information:
Link….
Entering June, residential homes sales are in their late-Spring easing stage. Traffic is slowing a bit, with fewer written offers. Historically, this trend flows through year-end. As a fun note, last year was an outlier year, with a second Springlike bump. Let’s hope.
Informative News
- Unemployment rates are at historically low rates across many different segments of our economy – along with rising wages. May the good news continue.
- Chris Thornberg quipped that for the past 3 years, economists were predicting a recession in about 2 years. One of these times the prediction will be correct.
- Chris also estimates housing supply will need to increase by nearly 20 %, for home prices to ease about 10 %. As a thought, how many of us would vote for the politicians who will work towards dropping your home values?
- From Dr. Duncan’s presentation, there is much to be liked about our market. Even in markets overly hot, there appears to be a bit of cooling – rent growth and commercial – which helps keep speculation checked.
- Dr Duncan also notes home prices and rents have grown faster, year-over-year, than wages. This makes recent wage increases important. Moreover, from 1998 – 2006, we saw a similar disparity, but on an even larger scale. In 2006, the gap was 15 %, while in 2014, the gap was at 8 %. Rising wages are good for all.
Recent Residential Success Stories
This month’s success story results from an introduction by one of our Financial Planning partners. Their client needed to rebalance their household cash-flow for the next few years. We introduced them to a reverse mortgage as a workable alternative, and though the paperwork is detailed, we finished with75 % of the costs built into the interest rate. Yes, reverse mortgages can be expensive and may not best fit everyone, yet it can open doors, when others are closed. They can be a great answer.
If you or your friends have interest or questions, please call. We love to talk about the full range of options and potential solutions, best fit for you and your situation. It all starts with your calling today.
Because You Matter
Our initial consultation has often proven “key” to the next success story. This first step helps make clear our tools of the trade – our experience and expertise – helping you achieve the success you deserve. It is an excellent way to manage your time, while also opening more doors, in search of the customized solution you seek.
- Here is a broad summary of available lending options to meet your plans and ideas:
- Conventional Financing – including incentives for our deserving Veteran’s
- Purchase, Refinance and Cash-Out loans
- Construction and Re-Hab loan programs
- Jumbo loans and loans for Rental income properties
- Buy the “replacement home”, before selling your current residence
- Putting off Capital Gains taxes on owner Occupied and Investment properties
- Reverse Mortgages – or other such good options – to meet cash-flow challenges,
The ways and interest in real estate financing is broadening. For some of my peers, they are just beginning to investigate reverse mortgages, tax-advantage financing, and loans for small business and commercial. Yet for me, I am not “peeking in”. Instead, my entire careers – with all its forms of real estate financing – is my life and what I love to do. What can be better than seeking multiple solutions. It is our hallmark.
As you can tell, home finance is far more than a scant overview of numbers. What is needed is a financial specialist who wants to know you and your concerns, one able to address your needs. It is how we best optimizes your desires, into the right loan.
My suggestion: Plan Today, so you will be ready for your Tomorrow.
The standard loan is our bread and butter. Yet we love a good challenge and are ready to help today. We love to hear “Yes”, when others say, “no way”. Give us a call. Our many referrals speak to the quality of our workmanship.
As always, thank you for your calls and referrals. Your success is our priority.
We remain gratefully yours,