Good morning to the Annual Springtime buying season,
Our local real estate market continues to perform beautifully. It is in step with the past few years and word on the street says the same. There are very few stories relating to any slow-down due to the ups and downs of either stocks or bonds. Let me know what you are hearing. Your thoughts are valued. The real question and issue at hand relates to whether there will be an increase in the number of homes available to sell. We read about fewer home sales. But the issue is not demand, it is one of shrinking supply. There can be many buyers, but so what, if there are too few to buy? This Spring Buying Season should be quite revealing.
- Jerome Powell, new Chairman of the Federal Reserve, testified before Congress about the increased likelihood of higher inflation. Bottom line: Look for a few more increases in short-term rates.
- Price Appreciation: Both the FHFA and Case-Shiller have the overall US appreciation for 2017 to be + 6 %. We are not that slow here.
- 1st Time Home-Buyers: A recent Zillow report indicates a preferences for both a digital connection and personal interaction. Current numbers show 52 % of them prefer to meet in person, before taking the next step.
- Interest Rates: With a growing economy, comes a necessary, even helpful uptick in rates. They help keep inflation in check and squeeze out excess risk.
Recent Residential Success Stories
One of our clients, suffering the “lag effect” of the last economic downturn, has worked with us for several months. The goal was to clean up the financials, fix and improve their credit score. The outcome was a successful and long awaited refinance. Their success along with far lower rates, is the start of new tomorrow.
Our second success was far more complex. The client goal: Sell their local home and then retire to a more affordable area. The problem: They were the financial support for their children just entering the local workforce. Solution: After an extensive review of available options, they chose a Reverse Mortgage. It solved the current cash-flow challenges of the next few years, and with no pre-payment penalties, they should continue to be ahead of the game, as they prepare for their next move.
Working with our Realtor partners, we have a yearly goal:
‘To close one more transaction than they otherwise expected.
Because You Matter
With so many changes to digest – tax reform and lending rules – give a ring before you, or your friends, consider a change. Remember, key to any successful endeavor beings with your first step – the initial consultation with those having the tools and expertise you need. Make no mistake, maximizing the use of your money, time, and opportunities means first becoming aware, so you are then ready to act.
- Here is a quick list ways we can benefit your plans and ideas:
- Conventional Financing. This includes our Veteran’s
- Purchase, Refinance and Cash-Out loans
- Construction and Re-Hab loan programs
- Jumbo loans and Rental properties
- Buy the “replacement home”, before selling the current
- Putting off Capital Gains taxes on owner Occupied and Investment properties
- Reverse Mortgages to meet cash-flow challenges, (we offer even more)
As most know, home finance is far more than just a fast look at the numbers. One needs that first conversation to address questions, while carefully reviewing your concerns and needs. From here, we work together to find what best fits you.
My suggestion: Plan Today, so you will be ready for your Tomorrow
The straight forward loan is our bread and butter. Yet we love a good challenge. 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. We love your success.
We remain gratefully yours.