Your September 2022 Residential Successes and News

Good morning to back to school,

The Good News: Year over year, decade over decade, Real Estate is still the # 1 growth in household wealth.

Real estate markets are fasted paced. Call today. Let’s prepare for the fun – its key.

Recent News

– Jobs:  Continuing to hold firm. Job creations have slowed, new people coming into the work-force. Unemployment rate slowly creeping up, as expected.

— Federal Reserve: For the moment focusing on inflation and not job creation. How much pain is yet to be determined.

Summary:

Ours is to stay in front of the bias’s driving the interest rate market, as best able. For now, we are in a middle ground where slowing GDP matches up with a slowing of hiring and job openings. On the flip side, current jobs numbers tell us companies may be slowing, but they are still hiring and wage growth continues.

 As the Fed shifts from their dual mandate of price stability and employment to just price stability, it will be interesting to see how the next few months of lower CPI help pricing in the mortgage market. The Fed is in a strong quantitative tightening mode. From buying 120 B of mortgages and treasuries monthly to now unwinding / reducing by approx. 90 B per month. Mortgage rates are back tracking inflation. Up, rates up, now we will see the next few months with inflation year-over-year dropping.. Will mortgage rates follow? Until then, we remain vigilant, loving the work we do. 

Information and Helpful Insights 

Market News, Successes, And How We Can Help 

Points of interest:

  • Interest Rates: The past couple of weeks have been rough for interest rates.
    • Conventional loans: Tracking mid to upper 5’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 – low 5’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. 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 SuccessStarting the paperwork today. Let’s talk Now.

Success Stories

Investment Properties: Nationwide one of every 6 to 7 purchases is for investment property. A lot of money seeking return, and those able are purchasing rental property for the long term expected benefits. Many public policies make building affordable housing difficult, resulting in strong pricing pressures upwards for rents.

Why plan today – Verifying the verification is the new constant. Banks and lenders want zero risk and zero defaults. This puts pressure on the shoulders of underwriters. The Good News: We know how to help them cross the T’s and dot the I’s. With us, you are well prepared and thereby ahead of the financial game. 

In the arena of details, we are most diligent. Why? Because its what we do best. 

Good News about Appraisals: Appraisal waivers and we know how to obtain them for our clients – a true time saver. It is how we best serve you and your needs !! Frankly, you deserve it. 

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 Serve You

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

2) Short-term: HELOC. A great tool with our markets rates so very low. Home Equity Lines of Credit can be a perfect for short-term ‘chunk cash’, plus the benefit of flexible repayment. 

2) Keeping One’s Home: Key to this worthy goal, is an interactive discussion. Here we discuss benefits of keeping one home, the possibility of upgrading the overall design to best fit any physical limitations, or even selling? As to selling, we can discuss ways to help you relocate to another place or location. Then there are such issue as Estate planning, unpaid debts, or meeting monthly expenses? My job is to be a good listeners, putting before you, straight forward solutions. Your first call is worthy.

3) Reverse Mortgage: it can be a great way to reduce stress – especially the burden of the monthly home mortgage. It stops, with the added benefit of adding monthly income, each month. Call. Let us show you how it can work for you. Don’t wait – Now is the time.

The Good News: Rates Remain Awesome

– New Homes or Refinance – 

Self-employed: Times are tricky, but we are prepared to meet such challenges. Let’s talk and review your unique situation. We work with traditional type documentation, alternative ways to document income, and even no-income documented loans. We can lay out workable options and best possibilities. I do love and stand with Small Business. I 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. We are motivated.

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 the recent price drops, those with strong employment and low risk of job loss may have an advantage. Locally prices have been hit, but after a couple years of appreciation in the teen’s this is a very welcome relief. As we stated during those years, as speculators are being squeezed out, appreciation can normalize. 

Real estate is a mid to long term investment, one based on longer term trends. In my opinion, our local economic dynamics will continue to support the likelihood of long term appreciation.

If this fits you and your circumstances, let’s talk. The best long-term answer maybe to buy now. Call today. Take full advantage of this buying opportunity. 

Good News: We offer market-based tools comparing rents to the benefits of home ownership. We look beyond boiler plate, short-cut numbers. We understand ‘affordability’ to be unique to each and every individual and family. Our focus is understanding you, asking pertinent questions, and helping guide your financial future. We appreciate the importance of “live-ability” as a high priority, when consider ‘how big a home can I afford.’ 

Finding answers and discovering options are the true rewards.

A Big, First Step Made Better

CALL Mike – Your success is MY first priority.

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