I recently interviewed my broker, Stacey Alcorn, about her experiences and her thought process to success. You see, Stacey has lead quite an exciting and eventful life and she suggested a re-spark in my blogging. Her idea sounded like fun, she suggested that I interview you, my clients and friends. Doesn't that sound like fun to get to know others making a difference?
When I am able to shorten all of the amazing advice I got from Stacey, I'm going to ask her if she would be my first new post.
Please let me know if you have a story to tell, an accomplishment to brag about, or something to share.
Monday, November 4, 2013
Friday, September 26, 2008
Almost over....
There has been so much change in the lending and financial world that it is difficult to not get discouraged or confused. If, however, you have been following the national news recently regarding the bankruptcy of Lehman Brothers, the stock market getting hit and Fannie and Freddie being taken over by the government, you should know that these are all the classics signs of the bottom of a market correction (or the bottom of the market).
Right now, it is more of a banking problem rather than a real estate problem. Prices in Massachusetts have mostly stabilized and we are seeing multiple offers in the short sale and foreclosure markets. Although there are probably more banks in trouble, and there’s not yet a full complement of mortgage products to satisfy all the buyers in the market, that will get sorted out. For thousands of years lending money has been one of the most profitable businesses in the world. Banks make money by lending; not by deposits. So they will figure out ways to package loans and get cash into the hands of consumers. I believe this is the final step in the process and in the next six months we’ll start to come out on the other side of this.
Make sure you don’t get caught in the “cudda shudda wudda” of taking advantage of this market. Call me today to find out more about great deals that exist in today's market. I know that I fully intend to take advantage of something soon too. We won’t know what the bottom is until after but I believe it’s pretty close. (information in this blog was taken from a great real estate expert, Brian Buffini)
Right now, it is more of a banking problem rather than a real estate problem. Prices in Massachusetts have mostly stabilized and we are seeing multiple offers in the short sale and foreclosure markets. Although there are probably more banks in trouble, and there’s not yet a full complement of mortgage products to satisfy all the buyers in the market, that will get sorted out. For thousands of years lending money has been one of the most profitable businesses in the world. Banks make money by lending; not by deposits. So they will figure out ways to package loans and get cash into the hands of consumers. I believe this is the final step in the process and in the next six months we’ll start to come out on the other side of this.
Make sure you don’t get caught in the “cudda shudda wudda” of taking advantage of this market. Call me today to find out more about great deals that exist in today's market. I know that I fully intend to take advantage of something soon too. We won’t know what the bottom is until after but I believe it’s pretty close. (information in this blog was taken from a great real estate expert, Brian Buffini)
Monday, March 10, 2008
Fed Rates vs mortgage rates
Great information provided to me by a friend:
Most consumers think that the Fed rate and the mortgage rates are the same, but they are not. That is why when the Fed cuts the rates & the media makes such a big deal about it, we, the consumer, rarely will notice it in our mortgage rates. The Fed rate is the rate at which banks borrow money; not the rate at which they loan money.
Right now, what the market needs is not another rate cut but a loosening of the mortgage restrictions so that more folks can qualify for a home. But don’t worry…every time the market goes through a correction and banks get scared tightening up their lending criteria they eventually loosen up the purse strings again. It’s a gradual process and not one you’ll particularly notice but trust me, banks need to lend money to make money. So folks with decent credit and a good job who may not have large down payments will be able to get back in the game very soon. The recent legislation to expand the conforming loan amounts to $532k will certainly help entry level buyers here in Massachusetts.
Once first time buyers can buy, move-up clients can sell and the high end will loosen up as well. This is all a very predictable cycle that’s been happening for over fifty years.
It's a good life,
~debi
Most consumers think that the Fed rate and the mortgage rates are the same, but they are not. That is why when the Fed cuts the rates & the media makes such a big deal about it, we, the consumer, rarely will notice it in our mortgage rates. The Fed rate is the rate at which banks borrow money; not the rate at which they loan money.
Right now, what the market needs is not another rate cut but a loosening of the mortgage restrictions so that more folks can qualify for a home. But don’t worry…every time the market goes through a correction and banks get scared tightening up their lending criteria they eventually loosen up the purse strings again. It’s a gradual process and not one you’ll particularly notice but trust me, banks need to lend money to make money. So folks with decent credit and a good job who may not have large down payments will be able to get back in the game very soon. The recent legislation to expand the conforming loan amounts to $532k will certainly help entry level buyers here in Massachusetts.
Once first time buyers can buy, move-up clients can sell and the high end will loosen up as well. This is all a very predictable cycle that’s been happening for over fifty years.
It's a good life,
~debi
Wednesday, February 27, 2008
Referral Directory
Great news...I will now be assembling an on-line directory of contacts for my clients and anyone who uses my website!! The thought behind my creating this directory is to make it easy for you to find a reputable electrician, plumber, attorney, lender, landscaper, etc. The best part about it is that you can recommend someone who you had a good experience with. Do you know anyone who you would like to recommend? It can be a restaurant, painter, mechanic, or any service that you think would be helpful for someone active in real estate (buying, selling or investing). Keep checking for the link to my directory; I will be posting what I have within the next couple of weeks.
Wednesday, February 20, 2008
Welcome
Hi. My goal with this blog is to inform you of some pertainent real estate information in Massachusetts (specifically north of Boston), give you some tips, promotional opportunities, and anything real estate related that I think might be great to share.
Please do not hesitate to suggest something related to this subject that you would like to see posted.
Please do not hesitate to suggest something related to this subject that you would like to see posted.
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