Real Estate On Tap

Home Values Moving Up!

Consumer Outlook for U.S. Home Prices

“The consumer outlook for U.S. home prices improved again in January, extending a recent upward trend in housing market sentiment, according to mortgage market firm Fannie Mae.”  This is the sentiment as reported in the Wall Street Journal the other day. The home values in areas that are desirable are moving in the right direction, and that is up!  The old axiom, “Location, Location, Location” is true as it always will be true.  Appraisals are now starting to come in at asking prices again, and therefore people are finding that they can sell as well as buy with confidence.

Chairman’s Comments

And, as was touted by the Fed Chairman Mr. Bernanke, there is ”No Silver Bullet” for the housing market.  But to that end, the Fed is attempting to keep rates low as was reported in the Wall Street Journal “Thanks to Fed monetary policy, interest rates on 30-year fixed mortgages are already at or near their lowest levels in recorded history, making it cheaper than ever for consumers to finance the purchase of a home.  And two weeks ago, Mr. Bernanke signaled publicly that short-term interest rates will remain low through 2014.”  So don’t wait till the rates go up and home prices are out of reach.

Adam Granger is a Home Mortgage Consultant with HomeServices Lending, LLC., an Affiliate of Wells Fargo Home Mortgage.  He is a frequent commentator at RealEstateOnTap and can be reached at 954-306-7218 or by emailing him here.

Tags: adam granger, ewm international, ewmrealtors, homeservices lending, jason kapit, Wells Fargo, wells fargo home mortgage

Attention Cash Buyers!

A Potential Idea

Here in south Florida I have noticed an increase in the amount of homes that are being purchased with cash.  Why?  Great prices.  Lack of investment options with significant ROI.  But here’s a thought.  With home prices as good as they have been in over a decade, why not buy two?  The thought process being, buy the primary with financing and buy the investment property for cash.  This way you get the tax benefit of having the interest deduction on the primary and the depreciation on the second home along with cash flow on the investment property.  It is a win-win situation.

Expectations

I expect interest rates should remain low as the FED is working very hard to keep it this way.  Therefore, property values should go up over time.  What I am suggesting is to not miss the opportunity that is out there in a market that has been seriously hurt by foreclosures and short sales.  Ad for those who cannot buy with cash, don’t miss out on a chance for record low interest rates and fabulous prices on homes.  Talk to a realtor today to see what is available, and become a home owner.

Adam Granger is a Home Mortgage Consultant with HomeServices Lending, LLC., an Affiliate of Wells Fargo Home Mortgage.  He is a frequent commentator at RealEstateOnTap and can be reached at 954-306-7218 or by emailing him here.

Tags: adam granger, ewm international, ewmrealtors, homeservices lending, jason kapit, Wells Fargo, wells fargo home mortgage

Buyers Rejected for Loans Can Now Find Out Why

Now, starting this week, lenders have to let you know why your not getting the best rate. They also will let you know why you have been turned down for a loan as well. This is all due to the Dodd-Frank act. So what do you think?  Is this good or just another thing to slow down the process?  This piece of legislation has changed the landscape quite a bit! The GFE (good faith estimate) that was once a 1-pager now is 9 pages.  Easier, better disclosure … I think not!  What is your take on this new legislation?

Adam Granger is a Home Mortgage Consultant with HomeServices Lending, LLC., an Affiliate of Wells Fargo Home Mortgage.  He is a frequent commentator at RealEstateOnTap and can be reached at 954-306-7218 or by emailing him here.

Tags: adam granger, dodd-frank, ewm mortgage, First Time Homebuyers, homeservices lending, Wells Fargo, wells fargo home mortgage

Short Sale Fraud Plagues The Housing Market

Who’s To Blame?

Recent article on CNN Money talks about this issue. Now is it not bad enough that the housing market has the issues it has with value and foreclosures that it has to deal with people trying to manipulate the system? I ask you? Please I want to hear how other people feel about the situation where there are people who are coming in buying a home in a short sale and flipping it for significant profits! Is it the banks fault or is it greed from the investor who is a straw buyer, buying and flipping the property? Per Freddie Mac 13% of all home sales are short sales! So tell me what you think!

Adam Granger is a Home Mortgage Consultant with HomeServices Lending, LLC., an Affiliate of Wells Fargo Home Mortgage.  He is a frequent commentator at RealEstateOnTap and can be reached at 954-306-7218 or by emailing him here.

Tags: adam granger, cnn money, freddie mac, short sale fraud, straw buyer, wells fargo home mortgage

Rates and Programs

30 Year Fixed vs. 5 – Year ARM

I was doing some research and found out that people do not stay in their homes or the loan that they are in for more than five years!!!!!!  So what does this mean?  It means that people pay far too high a rate of interest!  The difference between a $250,000.00 mortgage on a 30 year fixed and a 5/1 ARM is $12,966.00 savings over 5 years.  Why oh why do people always want to do a 30 year fixed rate loan?  I ask you!

Adam Granger is a Home Mortgage Consultant with HomeServices Lending, LLC., an Affiliate of Wells Fargo Home Mortgage.  He can be reached at 954-306-7218 or by emailing him here.

Tags: adam granger, adjustable rate, Cash Buyers, First Time Homebuyers, homeservices lending, mortgage rates, Wells Fargo

Home Prices Rise, Snapping 8-Month Decline!

Front Page News On CNN Today

Why is this happening?  The answer is fairly simple … two reasons … first, it is the summer and summer is the time people tend to make new home purchases!  The second is more interesting and the oooohhhh wow piece to the puzzle … shadow inventory.  Now what does that mean?  The banks are just not putting all the homes that they have for sale up for sale!  This way, prices go up and the banks inventory potentially will have a value.  And this will not stop for a while, not until the housing market becomes more stable.  And this time frame varies from professional to professional … some say two years some say as long as five years … whatever you believe it seems like we have a ways to go!

Adam Granger is a Home Mortgage Consultant with HomeServices Lending, LLC., an Affiliate of Wells Fargo Home Mortgage.  He can be reached at 954-306-7218 or by emailing him here.

Tags: adam granger, ewm realtors, ewm weston town center, homeservices lending, mortgages, shadow inventory, wells fargo home mortgage