One of the more frequent topics discussed between loan officers and borrowers center around discount points. “What are points?” “Should I pay points?” “What about NO points?” And so on… So today, I decided to give you some information and some things to consider: First, a definition- Discount Points are pre-paid interest that allows a […]
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There have been more and more reports showing that the housing market is beginning to recover. This has caused angst among some homeowners who are considering whether or not to sell their house in the next several months. With the market showing signs of life, the question becomes should they wait to sell because prices may be about to […]
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Notes from the report: Prices and mortgage payments are based on the median existing single-family home price, averaged from quarterly data to obtain annual prices. Mortgage payments are calculated using the interest-rate average for that year and assume a 20% downpayment and fixed 30-year term. Rent is the median gross monthly rent from the 2010 […]
We’re honored to have Matthew Ferrara share his knowledge and wisdom on the technologies you can use to benefit your business. – The KCM Crew Get ready for a whole new level of mobile sales productivity – with an iPad! For years, REALTORS® have worked to increase access to important sales information while on the […]
There are numerous media sources reporting the advantages and disadvantages of homeownership. Every expert (from international money managers who have hundreds of billions of dollars of assets under management to local and national real estate experts) has chimed in on the subject. The bottom line is that the percentage of folks that own a home […]
Each quarter, Pulsenomics surveys a “distinguished panel of over 100 economists, investment strategists, and housing market analysts regarding their 5-year expectations for future home prices in the United States.” Here are the results of their latest survey: Price appreciation/depreciation expected over the next five years: 2012: -.4% 2013: +1.3% 2014: +2.6% 2015: +3.2% 2016: +3.5% […]
The Joint Center for Housing Studies of Harvard University just released their annual State of the Nation’s Housing 2012. In the report, Harvard explained that, starting this year and continuing over the next twenty years, the echo boomers (born in the late 1970s and early 1980s) will drive the housing market. “After several false starts, […]
It’s often so difficult to choose who to work with in a real estate transaction. It’s tough to know the great agents and loan officers. I believe finding the great ones can truly prove to be a gift to your future. What is the “Steak”? To me, that’s the part of the agent or loan […]
We love to hear from our readers. Last week, we received this email from Neal Paskvan who is an agent at Baird & Warner, a real estate firm in the Chicago area. “I was at my mother-in-law’s home yesterday and some of her neighbors (a few older couples) started showing me their Chicago tax bills and the average […]
We often report on shadow inventory and its impact on home prices. We are pleased to announce that CoreLogic just reported that the amount of shadow inventory has fallen to levels not seen since 2008. Mark Fleming, their chief economist, explains: “Since peaking at 2.1 million units in January 2010, the shadow inventory has fallen by […]
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We live in a post-subprime world…and with that, come some good things and some not-so-good things. Much of the “bad” in mortgages has been cleansed (bad loan products and many of the unqualified “professionals”). And that is good. But another consequence of the past five or so years is the shear loss of people who […]
In yesterday’s blog, we discussed the motivations Kevin Miller, a KCM Crew member, had for purchasing a home. Though we didn’t receive any public disagreement on the wisdom of Kevin’s decision, there were several people who privately expressed their concern for Kevin. They questioned whether it was wise to purchase a home with such economic […]
Our founder, Steve Harney, occasionally asks to do a personal post on what he sees as important to our industry. Today is one of those days. Enjoy! – The KCM Crew As I travel across the country speaking with thousands of agents a month, I am always amazed at the first two questions I am […]
Do National Real Estate Headlines Actually Influence Local Markets? This is a question we are frequently asked. Local real estate professionals know the best information for either buyers or sellers is local market data. However, we must realize that what happens in the national real estate market dramatically impacts regional and local markets. For example: […]
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In judicial states the foreclosure process must be handled through the state’s court system thus extending the timelines to bring a home to foreclosure.
With spring in full bloom and the landscape at its peak greenness, I was moved to share my thoughts on how smart financing can help the environment. Beyond the paperless mortgage that can save trees, I am talking about two loan products that can finance energy efficient improvements to your home. And both can be […]
The Census Bureau just released their findings on new single family residential construction built in 2011. Here is a table comparing last year to 2006:
After weeks of continuous good news about the housing market, the naysayers jumped all over this month’s Pending Sales Report from the National Association of Realtors (NAR). Pending sales were down from the previous month. This must be proof that all that other positive news on real estate should be ignored – right? WRONG!! It […]
This blog often discusses the data behind the housing market. Today, we want to address the emotion behind the market comeback; a belief in homeownership which is still alive and well in this country. A study conducted by Coldwell Banker and psychotherapist Dr. Robi Ludwig found that owning a home is still very much a […]
As lenders, buyers, sellers, and real estate agents, the big unknown after a deal is put together is the appraisal. A proper pre-approval can smooth out the other components of the mortgage approval (income, assets, and credit- even title issues can be uncovered before the contracts are signed), so the only “unknown” is the appraisal. […]
