Archive for 'Articles'

A Reason to be Happy

Below, please find a chart depicting housing price gains during Q4 2014. Below that, I’ve listed annualized gains for 2014 as well as commentary on what all this means. Enjoy the good news!

Did you notice that all states experienced price growth last year? All indicators show that national home values are continuing to climb in 2015. Florida had the 2nd highest appreciation rate in the country! Why is that good for you if you already own a home? Rising home equity ...

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Millennials

Are Millennials (18 – 34yr olds) slower to leave home than previous generations?

The oldest in the age group, generally considered those born between the early 1980s and the late 1990s, launched careers during the recession. Jobs were scarce, earnings were stagnant, and as a generation, they accumulated record amounts of student debt. Many simply couldn’t afford to leave home and that slowed household formation and demand for housing.

Here’s the good news: Recent economic reports show a steady ...

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The importance of protecting your identity during tax season

As we roll into tax season I always like to remind people about the importance of protecting your identity.  Every year that I write this article I come to learn that more and more people have fell victim to some sort of identity theft.  As some of you may recall, my identity was stolen back in 2010 and I had no idea until I went to file my tax return in April 2011.  I remember my accountant calling me when ...

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New Changes for FHA That Everyone Should Know About

On January 26th of this year FHA officially reduced their monthly mortgage insurance premium (MIP) on all new FHA loans that are insured on or after Jan 26th, 2015.    This is great news for first time homebuyers or anyone looking to purchase a home using FHA financing.  The reduction is .5% and dropped the previous MIP from 1.35% to .85% for anyone putting down less than 5%.  If you put down more than the 5% then the reduction went from ...

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The Mortgage Market in 2015

The mortgage market finished out the year strong in 2014 and the optimism continues into 2015, in spite of some new changes coming our way.  Below, I review both the positive and negative factors that will impact our industry this year:

Positive:

  • Interest rates: Rates declined even further in the month of December and we are currently at the lowest levels we have seen in over 18 months.  This is great news for first time homebuyers, move up buyers and homeowners looking ...
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Mortgage Lending is Finishing Strong in 2014

As we enter the final two months of the year, there is much to be excited about when it comes to mortgage lending.  The availability of various mortgage products and the presence of low interest rates are two of the main reasons why consumers were able to experience the American dream of homeownership this year and why many more will do the same as we close out 2014.

2014 may be remembered as the year where interest rate experts were completely ...

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What are Un-reimbursed Business Expenses and How Can They Affect me?

Un-reimbursed Business Expenses (URBE) can have a huge impact on whether you get approved for a mortgage loan. Unfortunately, many people do not know what they are and the negative impact they can have. I refer to them as the silent killer in the loan approval process. URBE are deductions that people claim on their tax returns to lower their adjusted gross income.  They are listed on the Schedule A form along with all of your other itemized deductions such ...

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Laugh for a Cause

As the father of a 8 year old little girl with special needs, I learned early on that a good sense of humor makes the daily challenges easier to manage. In June 2006, my wife and I weren’t sure if we would ever laugh again. We received the devastating news that our precious first born child, Sienna, had a chromosomal abnormality known as Smith-Magenis Syndrome. She was only four weeks old and had just gotten off of the ventilator following ...

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Top 4 things you should do to be in mortgage shape

As we enter the home stretch of the summer, many people are still trying to purchase a home before the start of the school year.  If you are serious about buying and plan on applying for a mortgage, then it is always a good idea to be in excellent “mortgage shape” so you can be approved quickly.  Here are the top 4 things you should do to be in great mortgage shape to buy a home:

#1Credit

Cash may ...

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VA Loans are designed to serve those who serve us

I hope everyone had a safe and happy 4th of July weekend.  I hope you had the opportunity to spend time with family and friends and remember those who fought for the freedom that allows us all the opportunity to enjoy the 4th of July weekend.

In honor of our veterans, I would like to discuss a specific type of loan that is designed to protect and assist our veterans and their spouses in purchasing a home.  This loan is called a ...

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