GREAT words of wisdom from my friends over at KCM – There are some renters that have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage – either your […]Read More Rent or Buy – Either Way You’re Paying a Mortgage
First American Title issues a quarterly report, the Real Estate Sentiment Index (RESI), which “measures title agent sentiment on a variety of key market metrics and industry issues”. Their 2015 4th Quarter Edition revealed some interesting information regarding possible challenges with appraisal values as we head into 2016. “The fourth quarter RESI found that title […]Read More Home Prices & Appraised Values -Sellers need to sell their homes twice?
Let’s play a little IRS Tax Transcripts Jeopardy Answer: Because the IRS is ‘underfunded’ thanks in part to massive federal budget cuts Question: Why in the HECK are Tax Transcripts taking forEVER to process???? Update from one of the larger Third Party Validation Services explains why these transcripts, which lenders require to process a home loan, […]Read More IRS Blames Budget Cuts for Lengthy Turn Times on Tax Trascripts – Will Your Closing be Delayed??
The rate of home ownership in America…..have we hit the bottom??….. It has been falling for nearly a decade and in the fourth quarter of 2014, it hit the lowest level in over two decades at 63.9 percent, according to the National Association of Realtors. The peak for the home ownership rate was just under […]Read More Why is Now the BEST Time to be in Real Estate?
Well, the supposed “most important Fed meeting this YEAR” per CNBC is over and the result…”meh..”. For those not aware, the recent run up in US Treasury rates (and thus Mortgage Rates) was primarily due to investor expectations of a change in the stance of Monetary Policy as directed by the Federal Reserve. In reality, […]Read More most important Fed meeting of the year? what happened today?
Has this ever happened to you? You’re surfing around on one of the many googolplexian (the biggest number in the world…with a name) of real estate websites wishing, dreaming of that new home but thinking the homes you’re looking at online are a little out of reach. Then you’re eyes are immediately fixated on that […]Read More Why is the Mortgage Payment Higher than the Online Payment Calculator?
You may recall my warning from Oct 16, 2013 Real Estate Agent Beware! where I painted the ghastly picture of a flood of loan officers resembling that scene from Braveheart. You know the one where William Wallace and his army of loan officers…er, eh hum, I mean his army of rebels charge down the grassy […]Read More Real Estate Professionals, Home Builders AND Consumers BEWARE!
I know, I know, I’m stealing a page right out of the doom and gloom media’s playbook by using such a daunting headline as the “$33,000 Homebuyer Mistake” – but with good intentions I promise! I’m compelled to get this message out as I watch home affordability gradually slip out of reach for some of […]Read More The $33,000 Homebuyer Mistake
Have you ever wondered why a single report could have such a huge effect on mortgage interest rates? The non-farm payroll figure (a.k.a. NFP) represents the number of jobs added or lost in the economy over the last month, not including jobs relating to the farming industry. The farming industry is not included because its […]Read More Why does the Non-Farm Payroll report affect mortgage rates?
According to NAR’s most recent housing report, the answer is a firm “NO”. In fact, home sales in 2013 rose to the strongest level in 7 years. This taken directly from NAR’s RealtorMag: “Existing-home sales have risen nearly 20 percent since 2011, with job growth, record low mortgage interest rates, and a large pent-up demand […]Read More Are mortgage rates dampening home sales?