Good morning to Fall and fun of Halloween,
Home sales are healthy and home refi’s – incredibly strong.
Sellers continue selling and Buyers are ready for action.
The Good News: Confidence in Real Estate is steadfast. Don’t miss out.
The real estate market remains a frenzy. Call today. Let’s prepare for the fun.
For our clients ready to become Homeowners, we have added even more ‘associates’. This will enhance success and keep the process moving smoothly. This can shave days from each transaction, helping keep everybody smiling. Call us and join our team. We make success happen. Call us.
Recent News – Jobs Report: Going to be the ‘biggie’ in the news market for us. How will the market react to last Friday’s report headline miss at 200 K new jobs, but upward revisions for the previous 2 months of 160 K. This is from the BLS, the household survey indicated closer to 500 K job creations. A big disconnect, which leaves the market muddling sideways.
Key Analysis : Labor Supply. An example is Restaurants. Here we are seeing fewer hours of operation – staffing shortages, and need for upfront bonus to attract staff. This two-pronged problem is occurring across many retail businesses and directly impacts their ability to meet rent or mortgage payments. The possible ripple effects need to be carefully watched.
Information and Helpful Insights
Market News, Successes, And How We Can Help
Points of interest:
- Housing: A bit more supply, pretty steady on the number of sales, builders confidence still very strong. No sign of a cliff to fall off.
- Jobs: Expectation – Outcomes – What is means? What up next? Key is patience, not overreacting, as we slowly normalize the economy – supply – demand – job openings – debt spending – taxes – interest rates. .
- Refi: Mortgage rates remain attractive. Rates have made come quick moves, yet remain in the middle of the same range band we have seen over the past 6 months.
- Interest Rates: Like our low Rates? What a great incentive to Buy. But if you wait, watch inflation. Rates move with inflation. Typically, when inflation moves higher, so do our mortgage rates. Supply-chain problem and labor shortages complicate the equation.
- Conventional loans: Tracking high 2’s to low 3’s. Cash-out refinance and investor loans run a bit higher.
- VA rates and FHA rates: If 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 underwriter. Turn around time can be a quick couple of days. Amen. How about Refinance? Patience wins. Best to start today.
Key to Success: Start the paperwork today. Let talk.
Market News
1) US Economy: Housing is an important measure of our economy. This makes it politically important, as well. Sadly,current day, so-called experts and media love to hype – Real Estate Bubble. Yet when measured with perspective, carefully comparing monthly mortgage payment to household incomes, one finds a more well-rounded, informative view, that is actually helpful.
The US Economy: Pent-up Demand on full display !
Worst of CoVid is behind us and supply shortages are everywhere.
Job openings and more job openings are ready and waiting to be filled.
2) Federal Reserve Policies: Fed are keeping rates low, preferring calm waters, to rocking the boat. The last meeting they spoke of a strategy of ‘tapering” that has since pretty well worked itself out. For their November meeting, the jobs report will be a big driver. Here we will gain better insight into the Fed’s thoughts of tapering their market involvement. Action now or wait and see.
3) Employment: The numbers are strong and we are recovering. Yet the Question: Will stopping the extended pandemic benefits lead to the filling of the growing number of job openings? Next question: Have families with children, figured out ways for both parents to not have to go back to work? Another question: Have we created a group of ‘just don’t want to work’ people? More time and life realities maybe needed. For myself, being more of a workaholic, my expectations may have missed the mark, with more time and patience may be needed.
Have Patience: October / November should be a better judge of tomorrow
3) Real Estate: ‘Amazing‘ ! I remain a supporter of owning real estate. The Good News: Above and more than its appreciation potential, homeownership is a gift unto itself and more than mere speculation. It is unique to investing in real estate with its numbers, rents / cash flow, opportunity costs, and vacancy. This is my home is quite different from, this is my investment, though I love both.
Bottom Line: Planning and preparation is key to being a step ahead.
Give A Call: Let’s talk ideas, money, and possibilities of home ownership
Success Stories
Key to Success: We continue to hammer out successes – “hammer” the operative term. Yes, lenders want to sell loans and love promoting the lowest rate. Then the reality summarized as nuisance, nonsense, and small details. Thus know what is being “sold” and have a mortgage specialist you can trust, first, before taking the yellow brick road. Verifying details and “Verifications” upfront, is key.
Success Story: The challenges of receiving a timely appraisal are often most troublesome. The demand is high and the number lender qualified is limited. In many ways, it is key to success.
Thus many of our clients are able to obtain appraisal waivers. It helps turn what should be a 30-day success story, into one taking up to 6 weeks. Good News: We know how to get them done !
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 welcome gift – each month – for the many years of being disciplined and diligent. Question: How best to use this is gift? Good News: We have the tools to address this opportunity and answer your questions, as we explore your options, together.
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.
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.
Renting, but wanting to Buy?
The pricing pressures are not just with home buyers. Invitation Homes, the nations largest landlord shows rental demand is up 14 %, with annual rents, for renewals, up 5 %. In a recovering economy and appreciating values, there is no safe haven to avoid rising rents and property values. Let’s talk. The best long-term answer maybe to buy now, while rates remain excellent, relative to value. Call today.
Good News: We offer market-based tools comparing rents to the benefits of home ownership. We look beyond boiler plate, short-cuts numbers. We understand ‘affordability’ to be unique to each and every individual and family. Our focus is understanding you, asking pertinent questions, able 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. Finding answers and discovering options are both rewarding.
CALL ME – Your success is MY first priority.