Home Prices Continue To Rise – Are You Ready?

Home Prices Continue To Rise

 

Most of the latest reports show that home prices across the country are starting to rise and new housing starts are on the rise also. Those markets hit the hardest in the recession are obviously the ones that are starting to show the biggest increases.

Recently a report came out of Phoenix Arizona that indicated home prices were increasing in the double-digit range with multiple bids from buyers in many case. I have spoken about this ground swell before and I believe the trend is going to continue and we all need to be ready.

 

Do you have your referral network in peak form? How about your marketing plan for 2012? Are you up to date on the mortgage lending’s latest trends and changes? Are you ready to succeed unlike you have before?

 

If you would like to work with someone who is prepared and ready to help you today please contact me immediately. I am 100% truthful 100% of the time and will make your objectives my highest priority. Let’s take the market together and succeed on a level we only dreamed about. Check out my video blog http://realestatemarbles.com/janesmortgagematters/ and my Facebook Fan Page http://www.facebook.com/FreeHelp4RealtorsNC for great free marketing ideas, apps and industry news.

Jane Estes    –    Jane’s Mortgage Matters    –    704-905-3744

jane@janesmortgagematters.com    –    www.janesmortgagematters.com 

FHA $1000.00 Collection Rule – July 1, 2012

FHA $1000.00 Collection Rule – July 1, 2012

Borrowers applying for a new FHA mortgage will now have a new roadblock. If you owe more than $1,000 in debt that’s in collection a FHA loan will be off-limits to you starting this summer  due to a controversial new rule that goes into effect July 1, 2012

Postponed since the original start date of April 1, 2012 the rule prohibits borrowers with more than $1,000 in disputed collection accounts from obtaining a federally backed FHA mortgage. Prospective borrowers can reapply once they pay off these outstanding collections.

There was a lot of input from the industry that this would kill up 20% of the total FHA business and really negatively impact the housing industry recovery. The idea was to have a comment period, while the rule was delayed, and reevaluate the process. Apparently HUD has not been swayed and , as stated, the rule goes into effect 7-1-2012.

While this will significant impact the housing market HUD’s losses, and analysis of borrowers to most like default, has led them in this direction. If you refer to an earlier blob you can see a host of reasons as to why this is going to be a nightmare for Realtors,  Loan Officers and borrowers.

This is all the more reason to get your buyer/borrower pre-qualified as early as possible in the process. $1000.00 in unpaid collections and the like is nothing especially when you think about medical collections.

If you want to do business with someone is always on the leading edge of regulation and technology please contact me today. I am 100% truthful 100% of the time and will always make your objects my highest priority. Don’t forget to visit my video blog at http://realestatemarbles.com/janesmortgagematters/  and also my Facebook Fan Page http://www.facebook.com/FreeHelp4RealtorsNC for free marketing information, apps and industry updates.

Jane Estes    –    Jane’s Mortgage Matters

How Long Can We Ignore Housings Perfect Storm?

How Long Can We Ignore Housings Perfect Storm?

This week I have talked about low down payment loan availability and FICO score qualification. To sum those two topics up there are plenty of low down payment home loans available and you don’t have to have anywhere near perfect credit to qualify.

With the above in mind we now have the perfect storm with the third leg of low mortgage interest rates. How low? Well as of this week the lowest interest rates in history since they started keeping track back in the 1950s. That means mortgage interest rates are at their lowest level in over 50 years – in over a half a century!

 

The problem is we are not getting the word out to buyers and borrowers and many consumers are not taking advantage of their ability to qualify and buy a home right now. Additionally, sales prices are still bumping along the bottom of the curve and in some areas are starting to increase.

Ok – Let’s sum this up one last time.

1.       Many low down payment programs available – check

2.       Perfect FICO scores are not required – check

3.       Mortgage rates are at an all-time low – check

4.       Home prices are still at all-time lows – check

What are we waiting for? We need to get the word out now to every single person in our databases whether they are in the market or not. This is an incredible opportunity for buyers and borrowers and they, nor we, can pass this up!

If you are looking to work with someone who will help you market yourself in this arena of huge opportunity please contact me today. I am 100% truthful 100% of the time and will always make your objectives my highest priority. Don’t forget to visit my video blog http://realestatemarbles.com/janesmortgagematters/ and my Facebook Fan Page http://www.facebook.com/FreeHelp4RealtorsNC   for great free marketing ideas, applications and industry updates.

Jane Estes    –    Jane’s Mortgage Matters    –    704-905-3744

jane@janesmortgagematters.com     –     www.janesmortgagematters.com 

Positive Forecast For Rising Home Values

Just a few days ago I criticized USA Today for more of the same old negative news reporting and misrepresenting how much borrowers needed for buying a home. Well, while not on the first page, below is information published in the money section of USA today this morning that points to some positive movement in home values. Turnabout is fair play so I felt I needed to include this article for you in the blog today

Average U.S. home prices — down by a third since 2006 and still falling — will rise almost 4% a year for the next five years, according to a new forecast.

 

Market watcher Fiserv sees prices stabilizing by summer’s end and then climbing, quickly     in some places until gains taper off. The forecast is based on an analysis of leading home price indexes. Investors will drive much of the momentum, as they are now in cities such as Las Vegas and Phoenix. First-time and trade-up buyers will eventually follow. By the time home prices stop falling, they’ll be almost 35% below their 2006 peak, Fiserv says.

National Mortgage Rates

Separately, market researcher CoreLogic said Tuesday that U.S. home prices rose 0.6% in March from February, the first month-over-month increase since July. Good affordability and declining inventories are key factors. Conventional mortgage payments now account for just 12% of median family incomes vs. a historical norm of 20%, says Fiserv economist David Stiff. The Fiserv forecast, done with Moody’s Analytics, assumes steady economic growth with no major shocks. Markets hardest hit by foreclosures will show the biggest five-year increases in home appreciation, it adds.

Six of the 10 markets where annualized prices are expected to rise most over the next five years had price drops of more than 50% from their peaks. Las Vegas, for instance, is 61% off its 2006 peak. Meanwhile, Realtor.com says Florida has more cities than any other state that show the strongest signs of a housing recovery.

Each quarter, the real estate website assesses housing data, including changes in list prices, inventories of homes for sale and local economies. Phoenix, Miami and Orlando are the top turnaround cities in its study, based on those markets’ improvements in the first quarter compared with a year earlier. Asking prices are up more than 20% in Phoenix and Miami, says Realtor.com. Inventories are down more than 40%.

Naples, Fla., and Boise are also climbing in the rankings. New to the list of top 25 markets are Oakland and San Jose, which are benefiting from growth in the tech industry. The continued performance of local markets will depend a lot on the economy as well as on how quickly lenders dispose of distressed homes, says Realtor.com CEO Steve Berkowitz. Realtor.com is owned by Move, which operates a network of real estate websites.

Jane Estes    –    Jane’s Mortgage Matters    –    704-905-3744

jane@janesmortgagematters.com    –    www.janesmortgagematters.com 

http://www.facebook.com/FreeHelp4RealtorsNC

http://realestatemarbles.com/janesmortgagematters/ 

The Reality of FICO Scores

The Reality of FICO Scores

 

The over compensation has now started to right itself and there are many options for good borrowers. Please don’t misunderstand, if a borrower has bad credit with FICO scores to match they will not, nor should they, be approved for a mortgage loan. However, good borrowers can still find acceptable mortgage loans.

 

As we know credit is driven by FICO scores and borrowers can usually qualify for a conventional or government mortgage with a minimum score of 640. That said all borrowers have to remember that the lower your FICO score the more costly the loan but they are available. If a borrower doesn’t fall into the above criteria, or feels the cost is too high, they can opt for a credit restoration plan. This type of plan doesn’t wipe out accurate credit data but allows the borrower over a period of time to elevate their score by eliminating inaccurate date and initiating specific practices to achieve a more acceptable and less costly credit level.

 

If you want to work with someone who understands all aspects of down payment FICO scores and credit restoration please contact me immediately and close more transactions. I am 100% truthful 100% of the time and will always make your objectives my highest priority. Please visit my video blog page http://realestatemarbles.com/janesmortgagematters/ and my Facebook fan page  http://www.facebook.com/FreeHelp4RealtorsNC for great free apps, industry content and proven marketing ideas.

 

Jane Estes     Jane’s Mortgage Matters    704-905-3744

Jane@janesmortgagematters.com   www.janesmortgagematters.com 

The Down Payment Myth Still Lives!

The Down Payment Myth Still Lives!

 

One has to never cease to be amazed at the power of the negative news media in our country. Thanks to some rather, and continued, biopic reporting the majority of Americans still believe they must have a 20% down payment in order to buy a home. One more time – wrong – wrong – wrong! This is not the truth and you need to let every potential buyer you know what is available to them.

While there are some buyers who do indeed put 20% down the majority of buyers fall into any one of a number of other low down payment programs? FHA is probably the single most popular low down payment programs that are still available. While credit standards have tightened up FHA still have more flexible credit guidelines and all that is required for a down payment is 3.5%. Yes, just 3.5% and loan limit guidelines are still ample so the odds are the average American home purchase will qualify for this program as a property.

 

What else – Well there is the rural program, USDA,  which includes many more city type properties than you would imagine at a full 100% loan to value and Veteran’s loans are also still 100% loans. Additionally you can use a conventional conforming loan with only a 5% down payment. Credit guide lines for USDA and VA loans is also still more flexible than conventional conforming guidelines but even the conventional  guidelines are not the credit straight jacket that is being reported by the media.

 

The point of all of this is don’t believe a news machine geared to reporting bad news but rather give me a call and let me pre-qualify your buyer on a program that fits their budget. You will be surprised how many buyers can qualify for a new mortgage. I am 100% truthful 100% of the time and will always make your objectives my highest priority. I can help you sell more homes by staying informed and educated on the leading edge of the mortgage industry.

Don’t forget to check out my Facebook Fan Page http://www.facebook.com/FreeHelp4RealtorsNC and my video blog http://realestatemarbles.com/janesmortgagematters/ for great marketing ideas, industry information and free applications.

 

Jane Estes    –    Jane’s Mortgage Matters    –    704-905-3744

jane@janesmortgagematters.com     www.janesmortgagematters.com

Video Blogging Works!

Video Blogging Works!

 

As you have no doubt noticed I always include the address for my video blog and remind you to check it out. Video blogging works and it is a great way to connect with your customers. The visual aspect just makes your communications more personal and compelling.

I do a video blog once a week and post it on Friday. It almost always contains up to date breaking information concerning loan programs, marketing innovations and no cost applications that you will find most useful. My video blogs also contain current market information that is meant to keep you up to date with all the trends and regulations.

 

Using video to connect with borrowers allows all of us to have a more personal connection that tends to keep everyone on the same page and completely informed every step of the way as to the sequence and process of events.

 

If you have not thought about video blogging and communication with your clients you really should give a try. It is easy and most computers, especially laptops, now have a built in camera and microphone. It your computer doesn’t have one you can buy a clip on camera unit for very little money and you are ready to go record.  Don’t try and be perfect, none of us are, and just be you and stick to the topic. Videos under 2 minutes are ideal and you can either send them directly to your client or post them on your fan page, twitter or other social media.

 

Please visit my video blog at http://realestatemarbles.com/janesmortgagematters/ and you will find tons of free stuff including marketing and industry updates. If you feel like you need some help give me a shout and I will be happy to help you start exploring this very productive social media. If you are looking for someone who is using the all the social media tools to help you be successful please give me a call. I am 100% truthful 100% of the time and will always make your objectives my highest priority.

Jane Estes    –    Jane’s Mortgage Matters    –    704-905-3744

jane@janesmortgagematters.com    –    www.janesmortgagematters.com 

The Broken Compass

The Broken Compass

 

Well it finally happen. All your hard work and perseverance has paid off and your business has just exploded. You literally are putting forth a huge effort to stay on top of everything but it is happening and you are just ecstatic. Then you start to notice that you have slowing ceased following your exercise routine and suddenly you eating habits have gone totally south. Your compass is broken and you are unsure what to do. You certainly aren’t going to let go of business after all the hard work but you are becoming very concerned about your new lifestyle.

This is a very common problem and just telling you to suck it up and get back on track isn’t going to turn things around for you. A plan, you need a plan. While different things work for different people it all starts with first getting a good night’s sleep. Really, get some quality sleep and then in the morning, perhaps a Saturday or Sunday, sit down with your favorite beverage and start mapping out your time.

 

Take a look at your entire day and figure out how you can at least get some exercise on a regular basis and how you can get back to your healthy eating habits. Maybe you can’t bike, walk or use a machine for an hour and a half like you use to but can you factor in a half hour at least 3-4 times a week? How about getting up a little earlier and making sure you get a good breakfast. Pack a decent lunch or order smart if you are eating out for lunch.

 

It is important to keep a handle on your health and not let your ultimate success derailed your health and keep you from enjoying all you have worked so hard for and for so long. Try to take a breath and remember your continued health will only foster even more success. It does take discipline but the stakes are worth it.

 

If you are looking for someone with discipline who makes sure you files fund please contact me today. I am 100% truthful 100% of the time and will make your objectives my highest priority. Don’t forget my fan page http://www.facebook.com/FreeHelp4RealtorsNC  for tons of free marketing ideas industry information. Take a look at my video blog http://realestatemarbles.com/janesmortgagematters/ for even more great tips to help you get your deals funded!

Jane Estes    –    Jane’s Mortgage Matters    –    704-905-3744

jane@janesmortgagematters.com    –    www.janesmortgagematters.com

Challenge Yourself

Challenge Yourself

What do you mean challenge yourself? I challenge myself every day with goals, hard work, and continuing education and exercise a high degree of focus. This may be true but do you challenge your methods, your marketing or even your peers. Are you really getting the maximum result from your efforts? Are there are other ways that are more narrowly focused with higher return? What are those who seem to always achieve a little more doing that I am not?

 

These are all good questions and ones we should ask ourselves frequently. Constantly questioning our efforts and results can only lead to a higher degree of efficiency. Do you attend functions with your peers? I am not talking about lead groups but peers such as industry conferences or seminars. Do you pay attention to other methods being used by successful people in your industry? Do you stay current on selling trends and technology?

 

The point of all the above is that in this age of hyper fast technology the market place can pass you by in a heartbeat and we don’t even realize it. The Real Estate and Mortgage industry are industries of constant change and if we were to take 6 months off we would probably be so far behind it would take several months to catch back up. Yet when we allow ourselves to get comfortable in what we are doing sometimes we are allowing our markets to pass us by just as if we were not participating

The  point is that at least once a quarter we need to do some inventory analysis and make sure our methods are still very productive, our knowledge of the market is right on the money and our use of technology is leading edge. Even the very best are constantly evolving to serve their customers’ needs in the most efficient way possible. Think about it ——–

 

If you are looking for someone to work with who is right in tune with the market, technology and customer service than please contact me today. I am 100% truthful 100% of the time and will always make your objectives my highest priority. Don’t forget to visit my fan page http://www.facebook.com/FreeHelp4RealtorsNC and my video blog http://realestatemarbles.com/janesmortgagematters/ for tons of free marketing tips, applications and leading edge information.

Jane Estes    –    Jane’s Mortgage Matters    –    704-905-3744

jane@janesmortgagematters.com    –    www.janesmortgagematters.com 

Realtor Safety – A Serious Issue

       Realtor Safety – A Serious Issue

I have written about Realtor safety before as it is a very important issue to me. Yesterday I posted the address of another safety application on my fan page that is easily used with all types of phones. While there is an abundance of woman in this industry men are also being attacked and robbed. Many attacked are lucky to be alive. The most vulnerable time is obviously while showing a property. You are frequently by yourself so make sure a colleague knows where you are going and take all necessary precautions while showing the property. Download a safety application to your phone and know how to use it quickly.

I implore you to be cautious and use good judgment. Don’t cut corners and get careless when it comes to your safety. In our busy world it is so easy to forget and get caught unaware. Establish a safe protocol and routine when going about your business each day. I want to see you happy, productive and safe!

If you are looking for someone who doesn’t cut corners and get careless with your borrowers please contact me today. I am 100% truthful 100% of the time and will make your objectives my highest priority. Please check out my fan page, http://www.facebook.com/FreeHelp4RealtorsNC and my video blog, http://realestatemarbles.com/janesmortgagematters/  for great ideas that will give you an edge in the marketplace.

 

Jane Estes    –    Jane’s Mortgage Matters    –    704-905-3744

Jane@janesmortgagematters.com    –    www.janesmortgagematters.com