Your July 2021 Residential Lending Successes and News

Good morning to the Summer Days of July, 

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

Sellers continue selling and Buyers are ready for action. 

The Good News: Confidence is steadfast in Real Estate. Don’t miss out.

Have you noticed or had chance to watch media from other industrialized nations? It helps make clear why, as a whole, we in America, have become skeptical of our main stream media – MSM. Trust in their journalism and unbiased reporting has been falling rapidly. 

But I am happy to report, such fake fears and one-sided censorship, has not deterred the independent American spirit of 1776, our drive for success, or standing tall with our Constitutional Bill of Rights. 

Through it all, even Covid, we have a joyful appreciation of our homes, families, and neighborhood. We have more savings, lower debt, and increasing equity in our homes. Let us be thankful. Yet most success that lasts, begins with the self-discipline of solid preparation. It is key. Call today.

Information and Helpful Insights – Market News, Successes, How We Help

Points of interest:

  • HousingYear-over-Year: Cash buyers: 23 %; Inventory down 20 %; Values up 14 %. Who would have guessed in the shadows of CoVid? We anticipate a bit of slowdown after schools re-open.
  • Jobs: When a recession ends, the time needed to regain full employment, is always of interest. The recession of 1990, took 2.5 years. In 2001, it took 4 years and six years in 2007. This past pattern continues with our post-CoVid recovery. There are now serious questions and concerns about governmental money benefits are competing against the private sector and job fulfillment.
  • Refi: Mortgage rates remain good. Our Federal Reserve offered a change in wording the past weeks. This in response to spikes in “supply-side” inflation – pent-up demand in action. Likely, it is too soon to read to much into “words based” on speculation. By year-end we should know more.  Key: Don’t miss out out todays excellent rates and Buying opportunities. 
  • Interest Rates: Low Rates remain the reason to Buy. Yet, inflations fears do cause rates to move higher. The full range and effect of the supply-chain problem is real. 
    • Conventional loans: Tracking high 2’s to low 3’s, with cash-out refinance and investor loans 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: Digging into the numbers we are back to the trend line for Actual GDP. Durable and Non Durable goods above trend, 30 % and 10 % respectively, with Service Sector still lagging a bit. Results are supply chain constraints and the collateral bumps with supply.

The US Economy: Pent-up Demand on full display !

Worst of CoVid is behind us. Time to move on. 

2) EmploymentGood News – Bad News: As mentioned last week, the number of people receiving money from the government, is stubbornly too high, when compared to the number of job openings. This has brought a tight labor market with rapidly rising wages to meet the pent-up demand. Add to this, Summer travel and you have an added incentive to take the free-money, and enjoy the vacation put off because of CoVid.

This creates the great confusion of many cross roads, meeting at the same place and time. 

Have Patience: Fall will be a better judge of what has happened and will be happening.

Interesting: Since 2015, the lowest quartile of income earners, has maintained the highest percentages of wage gains. Good news all around. 

All this says the same one thing: Planning and preparation is key, especially when

contemplating home ownership. Give a call. Let’s talk ideas, money, and 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. Yes, lenders want to sell loans and love promoting an “easy” process. But then there is the reality called nuisance, nonsense, and delay. In particular, they are paying close attention to verifying and “Verifications”. 

A fun example. Ready to close earlier than scheduled and everybody is happy. Then, the reality of County needing verification to be notarized. Sadly in this case, the County determines the notary – on the subordination paperwork – has expired.  The Fun: It passed the day before, but today didn’t. Good News: Our team of players, including the Bank and the clients would not be deterred. A day later, the new paper work was at the title company and voila, all is well. We did not expect, but knew what to do.

We ask you to be prepared, for we are constantly working to be prepared for the unexpected. It is what sets us apart and at the end of the day, we want you to smile. 

Success Story: Try this one: Multiple family members on title, with debt ratios not lining ups. We go to work, getting the loan paperwork of another family member, to clear underwriting. 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 if we have built up significant equity in our homes, new doors of opportunity open. It can become a welcomed gift for the many years of being disciplined and diligent – each month.  Question: How best to use this is gift? Good News: We have the tools to address this opportunity. Plus we are here for you, to help you learn and explore them. 

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. Let us show you. 

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

We are ready to help – today. The Good News: Our conversations do not stop at the 1031. It is not the only tool able so save on paying the tax. 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 now. 

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

With Fed talk about higher interest rates, now may be the best time to act.

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

The Good News: Rates Remain Awesome

– New Homes or Refinance – 

Self-employed: Times are tricky, but we are prepared to take up your challenge . Call when 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.

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

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.

Call me – Your success is our first priority. 

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