Your November 2022 Residential Lending Successes and News

Good morning to a season of giving thanks;

The Good News:

Year over year, decade over decade, 

Real Estate remains the # 1 growth factor in household wealth. 

Real estate markets are fast paced. Call today. Prepare for opportunity – it’s key.

Recent News

 – Jobs:  Continue steady as job creations are holding up and so too, wages year-over-year. Of interest, latest drop in unemployment was due to those older than 45, returning to work. Rapid rise in inflation is perhaps the best explanation. Not so easily explained is the increase in people leaving the workforce.

 – Fix n Flip market: A challenge or an opportunity?  Federal Reserve policies to fight inflation is taking the steam out of this market, nationwide. To the point, Chairman Powell suggest a ‘housing reset, as an outcome of efforts to reign in inflation. As a result, we have higher borrowing costs, slower resales, and tighter profit margins.  Outcome: The entire construction and supply chain will be affected, and will reduce the number of homes being fixed.

 – Bright Side: For Buyers, this is a great opportunity to prepare – today – for buying opportunities not seen for years. Key: Start preparing today and be first in-line when the home you seek, becomes available. Keep in mind, tough economic times often bring a period of rapid decline in rates. Give us a CALL to discuss strategies. 

For your consideration: During the election period, be cautious about whatever you read or hear. Instead,stay current and aware of the facts driving interest rates and falling markets. For now, we are in a middle ground – a slowing GDP and a slowing of hiring and job openings. With this are international issues difficult to translate. 

Note: Most recent quarterly GDP numbers showed positive growth. Yet a deeper look suggest most of the growth was due to our funding Ukraine. As a result, the questions about recession and how wide spread remain. Let’s watch winter weather, holiday shopping, and Christmas hirings – each effects consumer spending. 

Note: What is often over looked it the harsh reality of our economy attempting to stabilize, after the nationwide CoVid shutdown. Old charts and computer models are not working. This is a market to watch, be wary, and well Prepared – Today. Call. 

Note: Mortgage rates are responding quickly to inflation and employment. There is hope inflation will ease – either due to rates or easing of the supply chain – and with it, mortgage rates. For now, remain vigilant, aware, and prepared, as home prices begin to balance with mortgage rates. Call us.

Information and Helpful Insights 

Market News, Successes, And How We Can Help 

Points of interest:

  • Interest Rates: Interest rates remains at peak levels not seen for many years. Does this spell doom or instead present new opportunities – even in the face of coming storms. Thankfully, real estate is not the chaos of day-trading. Instead, it is far more stable over the long haul. Call today. Early preparation is key.
    • Conventional loans: Tracking low 6’s . For Cash-out refinance and investor loans, rates run a bit higher. Keep calling.
    • VA rates and FHA ratesIf a Vet? Call Now.  Fixed rates – mid 6’s. Plus Veterans refi special: 1) Refi from conventional into a VA loan, and 2) Rate-reduction refi’s have NO income, NO asset documentation.  NEW rule for Veterans – a 1 % service related disability = NO VA funding fee !!
    • Jumbo: Yes to: Self-employed, Yes to: 80/10/10.  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 SuccessStarting the paperwork today. Let’s talk Now.

Success Stories

Investment Properties: Due to the continued lack of supply, rents remain stable providing good opportunities for overall investment return. Let’s talk about modeling the future, comparing current market rates and rents, against an anticipated drop in rates, next year. It will provide helpful insight into your investment performance. It is a good time, one worth of investigation, as we prepare for a new cycle of growth. 

Why plan today – Verifying and even more verifying, will be the constant, as Lenders want zero risk and no defaults. Good News: We know how to make them happy in crossing the T’s and doting the I’s. Such preparation keeps you ahead of the game. 

Retirement? Few have a silver bullet solution? Yet, for those who have significant equity in their homes, doors of opportunity begin to open. It can become a welcome monthly gift for the years of diligent use of your money. Question: How best to use this is gift? Good News: We have the tools to address this opportunity and answer your questions. We would appreciate the opportunity to discuss the best option for you and your view of tomorrow. We pride ourselves as teammates of success.

I look forward to your call. Call today. 

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

Highlights of 

How We Best Serve You

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

2) Short-term: HELOC. A great tool, even at today’s rates, especially compared to buying with credit card. They also offer the added benefit of flexible repayment. 

2) Keeping One’s Home in Retirement: A most worthy goal. Key is an interactive discussion where we discuss the benefits of keeping one’s home, or upgrading the overall design to best fit any physical limitations, or even selling? As to selling, we discuss ways to help you relocate. This includes issues of Estate planning, unpaid debts, or meeting monthly expenses. My job is to be a good listeners, bringing straight forward solutions that match you. Your first call is worthy. Let’s talk today.

3) Reverse Mortgage: offers a wonderful way to reduce stress – especially as it concerns your monthly home mortgage. This burden stops, with the added benefit of additional monthly income. Let us show you how it works. Don’t wait – Now is the time. Call. 

The Good News: Rates Remain Attractive

– New Homes or Refinance – 

Self-employed: We can help. We are ready and prepared to meet todays’ challenges. Let’s talk and review your unique situation. We are able to provide alternative ways to document income, even no-income documented loans. We can lay out workable options and best possibilities. I do love and stand with Small Business. I respect and appreciate those daring to be self-employed – the very spirit of America and life blood of our cherished free enterprise system. Let’s stand together. Call today. We are motivated.

Time to Buying your next home: Two most helpful “tools”: 1) You use the existing home, as collateral for your new home!! And 2): How about not having your current payment on the current home, count against you, while settling into your new home. People need options and creative thinking. And with this, we have excellent tools to make them happen. Call today.

Renting, But Wanting to Buy ?

With today’s lower prices, those with strong employment and low risk of job loss, are in a strong negotiating position. Locally, prices have taken a healthy hit, especially after a couple years of accelerated appreciation. This is welcomed. It is squeezing out the “speculators” and future appreciation can once again, return to normal. 

Real estate is a solid investment, one based on long term trends. In my opinion, our local economy is unique in the world. Thus it is dynamic in nature. As a result, it will continue to support the likelihood of long-term appreciation.

If this fits you and your circumstances, let’s talk. We may discover the best long-term answer is to buy now. Call today. Take full advantage of this unique opportunity. 

Good News: We offer market-based tools that compare rental costs to the benefits of home ownership. We look beyond boiler plate, short-cut numbers. We appreciate that ‘affordability’ is unique to each individual and family. Our focus: Understand you, ask pertinent questions, and help guide your financial choices. We make a point of matching “live-ability” with affordability. It is why we are unique. 

Finding answers and discovering options is truly rewarding.

A Big First Step, Made Even Better

CALL Mike – Your success is MY first priority.

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