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mortgage: Where should real estate values be in Salt Lake County - 12/29/08 11:17 AM
Often you hear different theories in regards to where real estate values should be. The reality is often different then what one may hear. For years I've been under the impression that real estate is a function of supply and demand. You have a certain number of homes, and a certain number of buyers, and that will dictate value. There may still be some truth to this theory, especially when you look at over built Florida, California, Nevada and Arizona. But is it really just an issue with supply and demand?
Could the real issue be income? That's right, what you … (1 comments)
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mortgage: Would you pay the lowest price posted for a Breast Implant? - 12/12/08 01:28 PM
My wife and I have 5 children, and at this point we've decided that this is enough. As many women know, breast feeding children can have debilitating effects on their breast tissue. Breast augmentation is one of the more popular solutions to this issue, (one that I endorse!!). But if you do a Google search on breast implants or augmentation and you'll be besieged with a plethora of procedures and options. I've noticed that prices vary from $2000 to $6000 dollars, some doctors want the money all up front, there are a few that will take payments. Some of the Doctors … (2 comments)
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mortgage: Would you pick the cheapest plastic surgeon if you needed breast augmentation? - 12/12/08 12:15 PM
My wife and I have 5 children, and at this point we've decided that this is enough. As many women know, breast feeding children can have debilitating effects on their breast tissue. Breast augmentation is one of the more popular solutions to this issue, (one that I endorse!!). But if you do a Google search on breast implants or augmentation and you'll be besieged with a plethora of procedures and options. I've noticed that prices vary from $2000 to $6000 dollars, some doctors want the money all up front, there are a few that will take payments. Some of the Doctors … (0 comments)
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mortgage: PNC purchase National City....someone's making money on my tax dollar!! - 10/24/08 12:22 PM
PNC purchases National City
You want to know why the average citizen is to the point of not caring anymore about politicians promises. Just look at the financial headlines today. PNC just purchased National City Mortgage, and guess what they used to do it? Yep, that's right...your money folks!! Now I'm sure the devil is in the details, and some nice spokesman from PNC will assure the world that this is only a temporary use of bailout cash, and that this will now make PNC feel secure, and allow them to offer better loans to consumers and small businesses. Yeah … (0 comments)
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mortgage: Worried about saving a down payment...Have your heard of an IDA account? - 10/15/08 01:08 PM
I highly recommend that real estate agents and mortgage professionals attend their local association meetings. Just found out about a gem of a concept, and now feel foolish that I didn't know more about this program. It's been sitting there right in front of my eyes, but like most I've become lazy in regards to "seller assisted Down Payment assistance", and hadn't realized what kind of programs were available in my community. This next one is fantastic if our looking at purchasing a house in another 12 to 36 months. The problem is that it won't help you buy a house … (2 comments)
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mortgage: McCains new mortgage plan will do little to solve problem - 10/08/08 11:44 AM
McCains Plan Link
Watching the debate or listening to the the drones form MSNBC, Fox and other stations regurgitate the debate endlessly late into the night, and I'm still scratching my head in regards to John's new mortgage plan. He wants to address the real issue...GREAT...but his plan will work for very few borrowers.
If I understand his plan correctly, his plan is not much different then the earlier legislation that Bush and Congress implemented earlier this year. In other words, allow FHA access to $300 billion, to insure those who are already delinquent into new home loans. Sounds great … (3 comments)
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mortgage: Mortgage Merge Accounts....I still think they stink!! - 10/08/08 01:27 AM
I know some of you are going to be offended, but I'm really starting to get angry with some of these self righteous MMA posters. A post that I wrote more then a year ago is still getting anonymous posts from angry MMA acolytes who dislike the fact I call into question the efficacy of their program.
When the program began, they whole trick was to show home owners how to use their equity in a unique way to leverage down their debt in an eye popping short period of time. They made it sound easy...just get a HELOC (equity line), … (6 comments)
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mortgage: Oil continues to drop....optimism reigns!! atleast for now.... - 07/17/08 08:27 PM
Sometimes in life your right, and hopefully I am at this point in regards to oil. In my last few blog posts I've been suggesting that oil is going to soon be dropping to more manageable levels. It hit the peak recently and has in the past few days began to drop and drop and drop. I can just hear George Soros rubbing his hands in glea as his short bet's are making him BILLIONS of dollars.
This has been one of the biggest sucker plays in recent history. I'm wondering when the SEC is going to announce an investigation of … (2 comments)
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mortgage: What advice should you give in these turbulent times ?? - 03/07/08 09:40 PM
I think it is safe to say that the recent market conditions are something most of us have never witnessed in our lifetimes. For those of us in the mortgage and real estate industry's, it's been pretty scary since August of last year. I've had a number of friends, relatives and old clients ask me my opinion in regards to the current crisis. I can only relay what I'm witnessing, but I have few answer to give them. Frankly we've not seen turbulence like our current market since before I was born.
Therefore a call I received tonight was an excellent example … (2 comments)
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mortgage: Mortgage Mania is sweeping the country!!! WHY!??? - 02/25/08 04:49 PM
Here we go again, another rant by Karl about the evils of the mortgage merge account. I guess there wouldn't be the negativity on my end if I actually knew it was working in most cases. I had to chuckle, one such comment was from a gentleman who had paid down his mortgage by 20k in about 8 or 9 years with a bi-monthly payment, but this new MMA was better then sliced bread, it was keeping him focused on finances. Wait a second, didn't he just tell me he had payed off 20k extra in less then 9 years with … (2 comments)
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mortgage: Thanks Jeff Belonger for scratching this itch!! - 02/08/08 12:09 AM
Actually I'm not angry at Jeff, I appreciate his newest post in regards to closing costs with mortgage loans. I totally agree that the current system is flawed! The biggest problem with closing cost's is everyone has an excuse why it can't be fixed. The big problem that most mortgage professionals no is (YSP) Yield service premium!
This is one of my biggest pet peeves and frankly there needs to be something done as soon as possible. Should the burden be placed on just brokers? Absolutely not! The real culprit in this mess are the banks. Frankly full disclosure should be included … (3 comments)
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mortgage: Debt-snowball method...is it really the most effective way to payoff debt? - 10/29/07 01:16 PM
My partner and I have been discussing a number of seminars that we can offer our clients. We want to provide an overall financial package that includes everything, from buying your first home, to planning retirement. One problem we've noticed that throw most people off track is debt. The one basic problem for most home owners is that there is not enough coming in each month, and too much is going out of pocket. Therefore the need to use credit is over whelming, and as national numbers prove, the problem isn't getting any better.
The other night I was listening to Dave … (2 comments)
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mortgage: Are real estate agents utilizing their relationships properly? - 10/17/07 11:04 AM
I've personally put together several FSBO programs over the past 10 years. One was particularly successful, and the other really never gained too much momentum. I think the biggest reason for one succeeding and the other failing was the timing. In 2003, Utah was going through a slllllooowww purchase market. Allot of listings, stagnant value's, and allot of agents were struggling. I heard a Ron Quinterro FSBO tape and thought it over and decided to jump in the FSBO market as a mortgage loan officer. The reason was to hopefully help the sellers with their property by making a buyers purchase … (0 comments)
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mortgage: The industry sales seminar....Revival or Value? - 09/24/07 04:17 PM
This post should relate to most of us who are in sales and have attended a sales related seminar. Earlier today I was involved in a conference call with several of my colleagues. We all had one thing in common, we all attended a mortgage planning conference in Las Vegas this last June. The gentlemen who produces and directs this seminar is a great guy. Has fantastic idea's, and I've become one of his fans. But if I have one complaint about these "industry seminars", is the constant pressure to "SELL ME", "SELL ME", "SELL ME".
I know...I know...reality baby, you can't … (0 comments)
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mortgage: How to enjoy your Golden Years...Stress Fee and with more dollars in your pocket!! - 09/21/07 05:19 PM
Then you may want to speak to a licensed mortgage loan officer that has a strong emphasis in retirement planning. Few seniors understand reverse mortgage products, and many figure they can barely survive on social security and therefore do not take advantage of higher end Medicare supplemental programs that could save them thousands of dollars a year.
The average senior citizen who is 65 and on Medicare will be contacted by an insurance agent in regards to acquiring additional supplemental insurance. There are many companies that sell supplemental, and with the ever increasing costs of doctor services, mental health care, and rising … (0 comments)
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mortgage: Reverse Mortgages fantastic addition to your business plans in 2008 - 09/19/07 05:51 PM
This is to all you mortgage professionals that are still hanging in there. Just wanted to share a great story of what a reverse mortgage can do for someone, and that opportunities are all around us every day!
My Aunt called me from a recent card campaign that I had sent. She had a question in regards to her grand daughter and if the grand daughter would qualify for a loan. Anyway, we discussed the possible loan programs for her grand daughter, but then I was able to ask a few more questions about her situation. Let her know that I just … (1 comments)
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mortgage: Can I still get a mortgage loan?? - 08/20/07 11:39 AM
My in-laws were visiting last night, and the subject of our recent meltdown in the mortgage industry was brought up by my father-in-law. He's currently building a speculative home and wondered if he would be able to ever sell it. He had a number of questions about the market, and one specific question, "Can buyers get loans still?"
Thats a great question, but one that I can emphatically answer with a "YES you can!"
I'll be honest, last week was a tough week for most mortgage loan officers. The trickle down effect of last week is already affecting the real estate market, but … (1 comments)
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mortgage: Jim Cramer...love him or hate him, he's atleast entertaining - 08/03/07 03:59 PM
If this subject wasn't such a big issue right now, then I'd laugh at how Jim Cramer acts in this video. CRAMER VIDEO, But his point about the Federal Reserve maybe spot on. I'm not an economist, but taking pressure off of banks at this moment may not be a bad idea at all.
… (3 comments)
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mortgage: Utah real estate....staying the course! - 08/03/07 12:08 PM
Good news for those in the real estate market in Utah.
http://www.deseretnews.com/dn/view/0,1249,695197372,00.html
With the cacophony of bad news pouring in every day on the mortgage front, and the steady media stories of falling markets in California, Florida, Texas and other states. Utah is catching it's breath and maintaining.
Furthermore, the state department of real estate, and other law enforcement are making their presence known as they go after various bad apples in the real estate and mortgage industries.
But if your thinking of buying homes in Utah, don't think of using some type of investment scheme. It isn't going to FLY folks!
… (0 comments)
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mortgage: Use your Equity while you still can!! - 01/17/07 03:26 PM
(Along with my Mortgage Planning newsletter, I also send this practical advice newsletter once a quarter)
Utilize Your Equity While You Still Can
In past history the stock market has been quite volatile, real estate has proven to be a stable investment over the years. According to the US Department of Housing and Urban Development, real estate prices had an average increase of 56% over a five-year period. Forbes reported an increase of 247% over the last 25 years. The problem is that times are beginning to change. In fact, the national rate of real estate appreciation has had its … (0 comments)
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