commentary: How Long Can FHA Sustain Their Role in the Housing Market? - 01/19/10 04:54 PM
When it comes to home buyers in Northwest Indiana, FHA insured mortgages have become the preferred choice of record. This also appears to be the sentiment throughout the country as FHA insured loans have risen to account for 25% of all mortgages as recently as the 3rd quarter of 2009 according to Inside Mortgage Finance. FHA has definitely received the lion share of the mortgage spotlight as it has made a precipitous return to the landscape of residential financing since 2006 when it only insured 2% of the mortgage market. The big discussion today was about FHA's role and ability to … (2 comments)
Up until last year, I actually misunderstood the meaning behind this holiday dedicated to Martin Luther King, Jr. I originally thought that this holiday was a day to recognize a dream towards equality. Through my research, I learned that this day did not become a federal holiday until November 3, 1983 when former President Ronald Reagan singed the Holiday Bill establishing the 3rd Monday of January as Marting Luther King, Jr a National Holiday. Although it was signed in … (2 comments)
commentary: Are You The Reason Your Home Won't Sell? Sunk Cost Fallacy - 12/08/09 10:48 PM
Yesterday, I had the opportunity to provide a free mortgage consultation to a family in Northwest Indiana who had their home listed for sale. Many things were discussed as-is par for the mortgage planning process and it was refreshing to see a home buyer take the preliminary steps to see if they were actually qualified to buy the next home. The focus of the mortgage consultation became awkward as the facts revealed that they needed to sell their existing home because they had to scale down due to financial hardship. Here was the real issue. The home had been on the market for well … (9 comments)
commentary: If You Don't Know Sara Bonert, You Should. - 12/03/09 06:57 PM
Yesterday, I received a surprise package from Sara Bonert of Zillow. Before I tell you want she sent me, let me tell you how I originally met Sara. Back in the latter part of June this past summer, I had the pleasure of attending Real Estate BarCamp Chicago held at the corporate headquarters of the National Association of Realtors. As it was my first one, didn't really know what to expect. I initially went by way of an invitation to attend a mastermind group of mortgage professionals from all over the country. During the course of the event, I was updating … (11 comments)
commentary: Realtors® Please Stop with the New Listings! - 12/01/09 06:13 PM
It has occurred to me recently that a vast number of Realtors® love to post their listings here on ActiveRain. This is clearly evident when looking at the ActiveRain Blog Dashboard. Sometimes listings will fill the entire time line. What is even more disturbing is the fact that I have see many agents mark their blog posts as Members Only. This begs me to ask the question to all those Realtors® that only post their new listings as to WHY? Please don't get offended, but could you create a blog that is more than just a republication of your new listing. … (185 comments)
commentary: What Black Friday and Real Estate Have In Common - 11/29/09 10:17 PM
Although I am not a fan of waking up in the early hours of the morning, I do have a wife and son who look forward to the shopping bonanza that was to have taken place. Even though there were some new block buster deals, the majority of what was offered was nothing more than the best deals that are routinely offered throughout the year. For instance, Staples offered leather backed office chairs that are normally priced at $99 for only $39 as an early morning door buster. What many did not realize is that this was an offer that had … (2 comments)
commentary: United We Stand, Divided We FAIL - 10/31/09 02:20 PM
With the election of Barack Obama into the presidential office last fall, the message was clear that the "Time is Now!" For many citizens this was a historic moment that reached a pinnacle during the inauguration. At last, a man of color had earned the highest elected office in the United States. And so the winds of change have been firmly set into motion. This historic event also stirred the pot of racists and bigots who had been lurking in the shadow of our communities. Slowly, these individuals have been lashing out against integration and diversity at the outer edges of … (0 comments)
commentary: What Is Obama Trying To Pull Over Our Eyes This Time - 10/30/09 06:30 PM
Did you hear the big news today? White House: 650,000 jobs created or saved under President Barack Obama's economic stimulus plan. As is in my nature I wanted to know a little bit more about how this number was figured and how is that possible with such high unemployment. So I clicked over to RECOVERY.gov which happens to be the US government's official website that reports all data related to the Recovery Act. It should be noted that on the home page as of October 30th that 640,239 jobs have been created/saved as reported by companies that received money from the … (8 comments)
commentary: Simply Remember to Play Laugh Grow - 10/29/09 11:57 PM
I was playing with my son this evening and was kindly reminded about the simple joys in life. He didn't do anything extraordinary or say something ridiculously funny. He just looked at me and I could see the love in his eyse and happiness in his smile. As I was absorbing in this magical moment, a commercial came on television. It was an advertisement by Fisher-Price and their ongoing campaign of Play Laugh Grow. It got me thinking about the mind set of real estate professionals that I have been in contact with over the past year throughout Northwest Indiana and … (6 comments)
commentary: Educational vs Emotional Marketing What Do You Choose - 10/28/09 09:56 AM
While reading some morning articles of interest, I stumbled upon an article by Kelle Sparta of Sparta Success Systems with the headline Play The "Everything I Remember About This Client" Game. In the article, Kelle alludes to the fact that clients at the end of a transaction simply become a mailing list. She offers a 6 step process to redefine clients and suggests that we market to their emotions based on what we have surmised through this exercise. As a Certified Mortgage Planner, I have always understood the concept of diving deep into an individuals finances and their financial plan relative to home ownership. … (3 comments)
commentary: Swine Flu a National Emergency - Are You Kidding Mr President - 10/24/09 02:56 PM
Did your hear that President Obama declared earlier this afternoon that H1N1 flu (aka swine flu) outbreak a national emergency? According to the press release, there have been a 1000 deaths associated with swine flu. Of the 1000 deaths nearly 10 percent have been children. It is sad to hear about the lives lost to this new form of influenza, but is it really a national emergency. More importantly, should this be the concern of Obama.
The last time I checked, both the Centers for Disease Control and the World Health Organization are closely monitoring the situation. If one wanted … (8 comments)
commentary: First Time Home Buyers Are Not ALL That - 10/21/09 11:18 AM
Since early fall 2008, much has been said and written about the importance of first time home buyers to the stability of the housing market. Most tenured real estate professionals understand the domino affect that can occur by way of the first time home buyer. Historically speaking this mind set has absolutely been the truth. As first time home buyers entered the market, it allowed the sellers of the preexisting home to move up which in turn allowed another family to move up, etc... In my experience as a Certified Mortgage Planner for 10 years in Chesterton Indiana, the normal series of home transaction would result … (6 comments)
commentary: J.P. Morgan is Just Insulting - 10/14/09 11:19 AM
Did you hear this morning's headline? J.P. Morgan Crushes Profit Expectations How could a big bank in an industry that was on the brink of total colossus failure a year ago produce earnings of $3.6 billion for one quarter? First of all, let's examine the simple concept that all financial institutions are built. It is a concept termed arbitrage. According to Alan Deardorff, a professor of International Economics at the University of Michigan, and as detailed in Deardorff's Glossary of International Economics, arbitrage is defined as... It consists of simultaneously borrowing at the low interest rate and lending at the higher … (11 comments)
commentary: Who Believes There Can Be a Jobless Recovery - 10/05/09 06:53 PM
Every day I hear on the media that the economy is in growth mode and on it's way to a recovery. Many analysts have commented that even without real job growth that the recovery is in full swing. Let's take a look at the facts. According to the official press release by the Bureau of Labor Statistics on Friday, October 2nd, the US economy lost 263,000 jobs in September with an unemployment rate hitting 9.8% nationally. The press release also noted that since the recession began in December 2007, there have been nearly 7.5 million jobs lost. You read that right. … (1 comments)
commentary: Who Believes There Can Be a Jobless Recovery - 10/05/09 06:53 PM
Every day I hear on the media that the economy is in growth mode and on it's way to a recovery. Many analysts have commented that even without real job growth that the recovery is in full swing. Let's take a look at the facts. According to the official press release by the Bureau of Labor Statistics on Friday, October 2nd, the US economy lost 263,000 jobs in September with an unemployment rate hitting 9.8% nationally. The press release also noted that since the recession began in December 2007, there have been nearly 7.5 million jobs lost. You read that right. … (1 comments)
Recently, I was sucked into a conversation around the water cooler about home affordability and the impact on the real estate market. The primary topic of the conversation was that home ownership was more affordable than in years past and that first time home buyers would flood back to the market. When I asked how does one calculate home affordability, no one really had an answer. One individual did mention that they heard something on the news about the National Association of Realtors (NAR) realeasing a Housing Affordability Index. I wanted to get the facts behind the published report; therefore, I … (11 comments)
Until today, I actually misunderstood the meaning behind this federal holiday dedicated to Martin Luther King, Jr. I originally thought that is was a day to recognize a dream towards equality. Through my research, this day did not become a federal holiday until November 3, 1983 when Ronald Reagan signed the Holiday Bill establishing the 3rd Monday of January as Martin Luther King, Jr National Holiday. Although it was signed in 1983, official celebration did not begin until 1986. Ultimately, this holiday is dedicated to nonviolence and all those who endured violence passively to unify humanity. CLICK HERE to … (4 comments)
commentary: The Grinch Who Stole Consumer Confidence - 12/24/08 01:48 PM
During the holiday season, many find comfort in the traditions that have been passed on from generation to generation. I personally enjoy the gathering of family to enjoy the new found awareness of children to the whole spectacle we call Christmas. From the "I love Santa" chants to the "I am scared of the Grinch" whimpers, the innocence of children bring a purity to the entire decision making process of buying gifts, wrapping presents, singing, etc... This is a sharp contrast to the recessionary woes that has overwhelmed the public. The dynamics of the U.S. and global economy are changing as … (1 comments)
commentary: Loan Modifications Will Only Exacerbate Housing Troubles - 12/08/08 09:40 PM
As is the norm, speculation and trigger words often get the headlines in the media outlets. Unless you have been in a bomb shelter, it has been unavoidable to hear all of the debate around a successful loan modification program and/or system to help troubled homeowners. It has been such an important topic that the president-elect has already made public appearances and proclaimed of its importance in the new administration. Not only is it good for America's economy, but also the consumer psychology. The main reason is due to the fact that homeownership had become the back bone of consumer spending … (7 comments)
commentary: Loan Modifications Will Only Exacerbate Housing Troubles - 12/08/08 09:32 PM
As is the norm, speculation and trigger words often get the headlines in the media outlets. Unless you have been in a bomb shelter, it has been unavoidable to hear all of the debate around a successful loan modification program and/or system to help troubled homeowners. It has been such an important topic that the president-elect has already made public appearances and proclaimed of its importance in the new administration. Not only is it good for America's economy, but also the consumer psychology. The main reason is due to the fact that homeownership had become the back bone of consumer spending … (8 comments)
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When it comes to home buyers in Northwest Indiana, FHA insured mortgages have become the preferred choice of record. This also appears to be the sentiment throughout the country as FHA insured loans have risen to account for 25% of all mortgages as recently as the 3rd quarter of 2009 according to Inside Mortgage Finance.
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