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Maintaining Success in the New Real Estate Industry - 09/15/07 11:58 AM
As you are aware, the upheaval in the Mortgage Lending industry has necessitated a change of strategy throughout the entire Real Estate Industry.
The prior dynamic within the industry was that the professional attached to the client or property was the "hub of the wheel", so to speak, and all other individuals were, while necessary, incidental.
That still remains true to a degree, but with one major change. The new Real Estate Industry MUST put the mortgage financing process at the center of the wheel, or, alternatively, as step one in the process. Any time a prospect approaches a Realtor or Builder … (5 comments)
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The Mortgage Market – Week ending 9/14/07 - 09/12/07 03:21 PM
Recently, the August Report of the Case-Shiller S&P Housing Survey stated that housing prices, nationally, declined at an annual rate of 3.2%. What the local headlines in the Denver Area missed is that Denver is now in its third month of appreciation. Denver is poised to move into one of the top spots of twenty metro areas tracked in the report.
So, what is happening with rates? Conventional rates are actually doing OK. They are staying steady in the low to mid sixes without much fluctuation. I will come back to this when I discuss Treasury movements. Nonconforming products continue to take … (0 comments)
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Current Home-Owners… What to do Now? - 09/12/07 03:06 PM
There are four actions possible for current home-owners: Do nothing, Sell, Refinance, or Convert the Current Residence to an Investment.
Do Nothing: This is for those individuals who are either happy and content in their present situation and don't want to take any chances, or those who are so caught in the current perceived uncertainty of the real estate market that they simply aren't equipped to make a decision. (I mean absolutely no slight at the latter; it's simply a truth that some people don't really know what's going on and don't have the information to equip them to make a decision.)
Sell: … (0 comments)
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Finding Success in the Current Real Estate Market - 09/12/07 03:02 PM
I live in Castle Rock, Colorado, on the south side of the Denver Metro Area. This article will cover both local and national (general) trends. Let me start nationally.
Over the past five or so years, most of the nation has seen rapid increases in real estate values. I won't go into the "why" of all that, it just is a fact... for most places. However, recently, just about anyone who's watched the News, been on the Internet, or read a Newspaper, knows that the party is over.
The most recent Case-Shiller S&P Housing Index Survey (from August) indicated that housing values … (0 comments)
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Now is the Time to Understand Mortgage Structure - 09/12/07 02:56 PM
We've been hearing a lot lately about a "meltdown" in the mortgage industry. First, this is a media-hyped gross exaggeration of what's really going on. The best thing to do is remain calm and get professional advice from somebody you know and trust, who is really equipped to explain the situation.
Let me explain how all this works, then what I foresee as happening in the future.
First, the life-cycle of a mortgage loan:
A customer decides s/he needs a loan. The loan is prepared by a loan originator. That loan is underwritten by an investor (the bank.) The loan closes and is funded … (1 comments)
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Greg Polashock
Castle Rock,
CO
More about me…
Cherry Creek Mortgage
Office Phone: (303) 887-0672
Email Me
Greg Polashock specializes in providing home Financing Solutions for move-up home buyers in Castle Rock and Lone Tree in Douglas County Colorado. Greg also consults with and for a variety of industry-related professions including Realtors®, Financial Planners, Accountants, Attorneys, Builders and Insurance Professionals.
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