News & Updates

Friday, 31 August 2012 08:25

Want To Know More About Appraisers?

Want to know more about how/why appraisers do what they do? One of my best appraisers is willing to come to your office meeting and answer any and all questions. Just got to let me know and let's set this up... wouldn't that help you and your business?

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We all know locally and nationally Home sales prices are on the rise. Will it hold thru the fall/Winter? Rates have gone back down to almost there lows. The Economy is still chugging along..

What's next?

GET READY FOR THE POLITICS ! We are getting close to the election. The negative presidential verbiage is about ready to get Crazy. Hold onto your seats... it is going to be a roller coaster ride...

Published in News & Updates

Monday, 16 July 2012 13:46

Big Week for Data Releases!

This week we have several important data releases that we should look out for!

Today, the Department of Commerce is releasing Retail Sales Data which should have a large impact on the market. This report measures the total receipts of retail stores and is a very strong indicator of broad consumer spending patterns. On Tuesday, July 17th, look for CPI receipts numbers to update their price levels on a fixed basket of goods making it a widely accepted and valuable inflation indicator. On the same day, look for the Federal Reserve to update Industrial Production numbers mesuring the physical output of our nation's factories, mines and utilities. Real Estate will be the key data points to look for during the remainder of the week. The Department of Commerce will update Housing Starts and building Permits on Wednesday the 18th indicating new construction on residentail units. Finally, on Thursday, July 19th, the National Association of Realtors will provide updated sales levels for existing homes.

So, stay tuned and be ready to ride the ride as we get updated all through the week with strong economic indicators being released to us.

Published in News & Updates

Tuesday, 24 April 2012 16:28

Too Big To Fail?

It was just over two years ago when President Obama vowed to eliminate the danger of financial institutions becoming "too big to fail," but now it has become apparent that the nation's largest banks are BIGGER than they were before the credit markets seized. The Federal Reserve reported that at the end of 2011, the Top 5 banks (JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and Goldman Sachs) held $8.5 trillion in assets, equal to 56% of the U.S. economy. This is up from 43% from five years earlier. And these 5 banks combined are nearly twice as large as they were 10 years ago! So much for the plan.

Published in News & Updates

Tuesday, 10 January 2012 10:33

Looking forward at 2012

As we start 2012, the housing, and mortgage, industry is in a very interesting position. Interestingly, looking back over the past several decades, many analysts believe that this year will be a great time to obtain a new mortgage. So although economic uncertainty (isn't there always economic uncertainty?) is still present, and loan documentation requirements have increased, housing prices and low mortgage rates have made homes incredibly affordable.

Taking out a mortgage increases a borrower's leverage, and the low interest rates are an inducement for investment property buyers. Many are taking out a loan to purchase an investment property at 4.5% and then renting out the house to earn a positive cash flow. In addition owners have the tax write-offs and other advantages of owning real estate. (Mortgage insurance isn't an option for investment property, so a fat down payment, typically 20 percent or more, is a must.)

The low rates can make rate-and-term refinancing a smart financial move. This type of new loan is exactly what the name implies: a refinance in which the interest rate or term is changed, but the loan amount stays the same. And with rates so low, most borrowers are opting for a fixed rate loan as long as there is equity. Our Landmark Advisors tell borrowers if their loan amount exceeds the home's value, consider the Home Affordable Refinance Program, or HARP, part of the federal government's Making Home Affordable initiative. If your loan is insured by the Federal Housing Administration, the FHA Short Refi program might enable you to refinance in a negative equity position.

So although the flashy "no money down" programs are basically gone from the mortgage business, there are still several government sponsored loans that allow borrowers to refinance at lower rates than they my currently have. Check with your Landmark Advisor for more details – you could be pleasantly surprised!

Published in Market Insights