September Residential Lending Successes

Good morning to September

As we enter the Fall season of schools re-opening and football, a quick review of real estate in the fall, might be fun. Historically the second half of the year slows from the torrid pace of Spring. We also find differing type or attitude of Buyers. In the Spring, you might find what I call ‘rip-the-plastic-off’ sales, with Summer for refurbishing and reselling. However, in Fall / Winter, there is a shift to homes with less outside work and less overall remodeling. A few Realtors even suggest Spring homes have a bit more size, than in the Fall / Winter. Fun fact: Both can cause adjustments to both median and average home price.

Our successful stories continue, as we never fear the difficult challenge.

A recent referral was an investment heading into foreclosure. There was a much needed refinance, with three major challenges: 1) Tenants not paying, 2) owners struggling with unexpected medical challenges affecting their daily job, and 3) cash drain due to insurance deductibles. Our helpful lender praised our diligent and detailed work on the loan. They underwrote the file in one day and sent loan documents to title, the next day. Amen.

Another of our wonderful clients sought to buy their new home, while continuing to hold the original as a “fix and flip”. The bump-up in value made financial sense. The challenge: The original underwriter quit work at the very time we were asking for loan documents. A most stressful week for all. Yet no one panicked, as our experienced team kept pushing forward. And with extra efforts by the Realtors and our clients, we closed the deal. Challenge met.

Lending can have its unexpected storm. Yet how one deals with the suddenness, can often make or break the deal. Yes, parties are stressed, even angered, but we choose to see past the immediate frustration, trusting good will and our abilities to communication. It works.

Lesson learned: Lending is more than paperwork. To best serve the client, one needs to gain the ability to see a problem, any problem, and work the edges with diligent and patience. Such is the path that builds lasting relationships with clients, Realtors, and Lenders. Amen.

This is why we encourage your calls, and though we enjoy the clean transaction, it is the relationships we build – one focusing first on you – that stays the course to success. If this sounds like the group of people you would like to work with, let’s the conversation begin.

We love our clients and are thankful for our lending partners. In addition, I am particularly proud of our supporting team. You may know some of the names, yet please keep our entire them in your thoughts. They work hard for you and are a team of caring individuals focused our your success. Thank you: Dennis, Paul, Amy, Shila, Christelle, Joe and Rhonda.

Thank you again and enjoy the first days of the Fall Season.

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