Luke's Blog

Mortgage Market Video Update for 11/17/09

Luke Landis (Heartland Mortgage Group) — Tue, 17 Nov 2009 13:07:10 -0600

Pssst. Pass it on!

Luke Landis (Heartland Mortgage Group) — Mon, 16 Nov 2009 11:56:47 -0600

Good News!

You know someone in the mortgage business.

Hello. You may or may not be aware that I
am a mortgage professional. This is good news
for you because now when you need mortgage services, you can get honest help from someone
you can trust.

If you are in need of assistance with any of the following, help is just a phone call away:

• Purchasing a home

• Refinancing your current home (to lower your
• payments, consolidate debt or cash out equity)

• Getting a Home Equity Line of Credit or
• Home Equity Loan

• Answering any mortgage-related questions

It would be great to hear from you. Feel free to contact me anytime.

Luke Landis
Senior Mortgage Banker

Office 515-222-0123

E-mail: luke@hmg1.com

Website: www.iowamortgageman.com

12345 University Ave Ste 100 - Clive, IA 50325

Heartland Mortgage Group

	P.S. I rely heavily on word of mouth to generate new business. If you would be kind enough to pass my information on to friends and family who may be in need of my services, I would be grateful.

This is not a commitment to lend or extend credit. Restrictions may apply. Information and/or data is subject to change without notice. All loans are subject to credit approval. Not all loans or products are available in all states.

To be removed from this list, reply to this message and include "remove" in the subject.

A funny joke about the Great One

Luke Landis (Heartland Mortgage Group) — Tue, 13 Oct 2009 12:03:12 -0500

Three quarterbacks die and go to heaven.

God asks Peyton Manning first: "What do you believe?" Peyton thinks long and hard, looks God in the eye, and says, "I believe in hard work, and in staying true to family and friends. I believe in giving. I was lucky, but I always tried to do right by my fans." God can't help but see the essential goodness of Manning, and offers him a seat to his left..

Then God turns to Tony Romo and says, "What do you believe?" Tony says, "I believe passion, discipline, courage and honor are the fundamentals of life. I, too, have been lucky, but win or lose I've always tried to be a true sportsman, both on and off the playing fields." God is greatly moved by Tony's sincere eloquence, and he offers him a seat to his right.

Finally, God turns to Brett Favre: "And you, Brett, what do you believe?" Brett replies, "I believe you're in my seat."

Mortgage Market Update for 2/25/09

Luke Landis (Heartland Mortgage Group) — Wed, 25 Feb 2009 12:48:16 -0600

As a Des Moines Mortgage lender, I am truly passionate about my profession, and the result is that nearly 100% of my business is by referral from satisfied clients, trusted financial advisors and the most experienced realtors in Des Moines, and throughout Iowa. My mission is to carefully guide you through the entire home loan process, so that you feel confident as you make choices about the many options available for your financing strategy. With many years and a wide range of experience in the mortgage industry, my dedicated team stands ready to assist each and every step of the way. I understand that it's not just a house, it's your home. Your home is one of the largest financial commitments that you will make during your life, and many people view that as meaning just another monthly payment. I can help you realize that your home is truly a valuable financial tool, and will help you achieve the dreams and plans they envision for your future. You only think about home financing a few times during your life ~ I think about it every single day. It's your home and your future. It's my profession and my passion. I'm ready to work for your best interest.

Mortgage Market Update for 02/18/09

Luke Landis (Heartland Mortgage Group) — Wed, 18 Feb 2009 15:32:53 -0600

Mortgage Market Update 1/16/09

Luke Landis (Heartland Mortgage Group) — Fri, 16 Jan 2009 11:42:52 -0600

10 Reasons Real Estate Buyers Want to Low Ball, Steal the House, and Stick It to the Seller

Luke Landis (Heartland Mortgage Group) — Wed, 07 Jan 2009 15:05:14 -0600

I thought this was a great blog and so true.

Via Janet Guilbault, California Mortgage Expert (RPM Mortgage):

What is the biggest misconception in the mind of the guy about to make an offer on a house?

This seller must be absolutely desperate to sell this house.

I will ignore the asking price, because all houses are priced with plenty of negotiating room.

Sellers expect low ball offers in this market.

Any seller would be lucky to have me buy their house.

It can't be a good buy unless I am able to steal the house.

If this offer doesn't go through, I'll just keep on low balling until I get another house.

I am a brilliant negotiator.

If the seller won't take this offer, I will walk away for a few weeks and let them stew until they do.

No one else would want this house, anyway.

No one pays full price in this market unless they are stupid.

The sorry state of our economy and the desperation of the retail world have combined to brainwash our clients about buying real estate. Somewhere along the way, "stealing the house" and "winning the negotiations" became more important than landing the best house in the best location at a price you can afford.

Extreme bargain hunting has become a national addiction, and it is spilling over into the real estate industry.

When EVERYTHING we buy from automobiles to clothes is marked down 50% or more, has a coupon attached for a further discount, and comes along with freebies on the side, is it any wonder buyers of real estate have developed an attitude of EXTREME superiority, believing sellers are mere beggars?

Can you see how they have been conditioned to believe that as a buyer, they can call all the shots, no matter how ridiculous?

Many think those beggar sellers must be thinking this:. "Please, buy my house. I am desperate, you know, and expecting your ridiculous offer".

And you know what they say, beggars can't be choosers. And so the stuggle to convince buyers that a house, ANY house, is priced "right" continues.

Here's a news flash: beggars may not be able to be choosers, but losers can sure be snoozers.

Buyers should ask themselves this: Am I willing to risk losing the house I love because I am addicted to scoring an extreme bargain?

Isn't getting the BEST HOUSE in your LOCATION OF CHOICE at a hugely deflated price enough of a high?

Or has extreme bargain shopping become like a drug addiction? You will sacrifice your long term well-being and logical thinking for that 10 minute high of feeling ever so smart because you "stole" the house?

Before you smile just thinking about how to make the seller squirm, remember this:

There is just that one piece of real estate in the whole world. That is what makes a house different from buying a car or a sweater.

Remember these things too: You cannot return it. You can sell it, but the cost of doing so will probably be far more than any savings from your extreme bargain.

Then get your priorities straight. It is about getting the house. Not getting the extreme bargain you can brag about at your next party. That feeling of superiority will last what? For a few days?

Getting the right house can give you a lifetime of pleasure and satisfaction. Even if you pay full price, you will look back and be amazed at the EXTREME BARGAIN these economic times served you up on a silver platter.

Want to know another secret? Sellers are not nearly as desperate as you think.

Written by Janet Guilbault, Mortgage Lending Expert Based Out of the San Francisco Bay Area

Mortgage Market Update 01/07/2009

Luke Landis (Heartland Mortgage Group) — Wed, 07 Jan 2009 15:02:03 -0600

Mortgage Market Update 12/15/08

Luke Landis (Heartland Mortgage Group) — Mon, 15 Dec 2008 11:46:39 -0600

The True Meaning of the 12 Days of Christmas

Luke Landis (Heartland Mortgage Group) — Wed, 10 Dec 2008 13:05:47 -0600

Via Nancy Larson:

There is one Christmas Carol that has always baffles us. What in the world do leaping lords, French hens, swimming swans, and especially the partridge who won't come out of the pear tree have to do with Christmas?

From 1558 until 1829, Roman Catholics in England were not permitted to practice their faith openly. Someone during that era wrote this carol as a catechism song for young Catholics.
It has two levels of meaning: the surface meaning plus a hidden meaning known only to members of their church. Each element in the carol has a code word for a religious reality which the children could remember.

The partridge in a pear tree was Jesus Christ.

-Two turtle doves were the Old and New Testaments.

-Three French hens stood for faith, hope and love.

-The four calling birds were the four gospels of Matthew, Mark, Luke & John.

-The five golden rings recalled the Torah or Law, the first five books of the Old Testament.

-The six geese a-laying stood for the six days of creation.

-Seven swans a-swimming represented the sevenfold gifts of the Holy Spirit--Prophesy, Serving, Teaching, Exhortation, Contribution, Leadership and Mercy.

-The eight maids a-milking were the eight beatitudes.

-Nine ladies dancing were the nine fruits of the Holy Spirit--Love, Joy, Peace, Patience, Kindness, Goodness, Faithfulness, Gentleness and Self-Control.

-The ten lords a-leaping were the ten commandments.

-The eleven pipers piping stood for the eleven faithful disciples.

-The twelve drummers drumming symbolized the twelve points of belief in the Apostles' Creed.

So there is your history for today. This knowledge was shared with me and I found it interesting and enlightening and now you know how that strange song became a Christmas Carol...so pass it on if you wish.'

Merry (Twelve Days of) Christmas Everyone

The Consumer Benefits of Solid Professional Relationships

Luke Landis (Heartland Mortgage Group) — Wed, 10 Dec 2008 12:55:55 -0600

Via Steve Kappre, Gloucester County, NJ Loan Officer/Certified Mortgage Planner:

If you have been paying attention, mortgage rates are great right now. Several days this week you could have locked a rate below 5%, depending on your scenario. We haven't seen rates like this in several years.

So who benefits from these low rates? This article is not going to get into FICO scores and loan-to-values. The people who benefit from low rates are primarily clients who have a solid working relationship with a mortgage professional. Consider this scenario ...

9:45am: Ratesheets show great pricing on mortgage rates. Loan officer (L.O.) calls clients that could benefit from these low rates.

11:15am: Client calls L.O. back to ask questions. L.O. is on the phone.

12:03: L.O. calls client back. Client is out to lunch.

1:10: Client calls L.O. back. L.O. is in a meeting with a new client for the next hour and a half.

2:50: Loan Officer calls client back, and finally gets client on the phone. At this point, the market hasn't done well on the day and rates go up .25%. Rates change daily, even several times a day. In this scenario, EVERYONE loses.

So how can this be avoided? By having a working relationship with the professionals you surround yourself with, in this case a mortgage professional. Imagine the same scenario above, BUT for each client that the loan officer is working with, there is a target rate/points scenario designated, so that the moment the ratesheet allows, the loan is locked in, in a matter of a few minutes. Who wins then? EVERYONE.

There are a few reasons why this scenario isn't more common. One reason could be that the client doesn't trust the loan officer enough to "commit" to this scenario, even though it is 100% free. Another reason could be that the loan officer doesn't have this ideal scenario anywhere in his mind, so a pre-emptive strike would be impossible. The relationship in this case can only hope to get lucky. It has been shown countless times that when the media reports low mortgage rates, it is almost always to late for the consumer to benefit. Rates have already gone up to where it isn't beneficial to the consumer.

Mortgage professionals are just like realtors, lawyers, accountants, financial planners, etc ... there are tons of mediocre ones out there, some bad, and some really good ones. Having a network of your own professionals, even as a regular 'ole Joe from Anytown, USA, you can bring about much more financial success for yourself. By working with such professionals, you create a scenario where financial success for you isn't a flip of the coin. It is a predetermined decision. It isn't a question of if the right scenario will come about, it is a question of, "Am I ready for that scenario at the drop of a hat?"

by Steve Kappre

Steve Kappre is a Certified Mortgage Planner in New Jersey and can be reached for more information at 856-419-3561 or via his Mortgage Website.

Quick Tips - Are 4.5% Home Loan Rates Possible?

Luke Landis (Heartland Mortgage Group) — Wed, 10 Dec 2008 12:53:40 -0600

Via Joe Farro:

Joe Farro
Certified Mortgage Planner

Phone: (678)289-6600
(800)613-0650
Fax: (678)289-6601
jfarro@joefarro.com

www.premiercapitalmortgage.com

4.5% Rates Possible?

The news is abuzz about the Treasury lowering home loan rates to 4.5% to stem the foreclosure crisis but details have been lacking. The Treasury Department stated it is looking for additional ways to help the struggling housing industry and believes lower rates are needed.

This idea is similar to the November 26th announcement from the Federal Reserve where they indicated the intent to purchase up to $500 billion in mortgage-backed securities from Fannie Mae, Freddie Mac and Ginnie Mae. In addition they would buy another $100 billion in direct debt issued by those firms. The November news caused bond prices to spike higher and forced mortgage rates lower. Just like any commodity, whenever tremendous buying interest exists, prices rise. Mortgage rates fell almost 1/2% in rate following the announcement. However, the following week market forces continued and rates spiked a bit higher from the recent lows.

It is important to remember that there are no details to the Treasury plan as of yet. The Federal Government does not directly dictate home loan rates. Rates are determined by price movements of Mortgage Backed Securities (MBS), which compete for investor funds in the open market. The Treasury can buy mortgage bonds on the open market but remember that they are not the only entity buying and selling these instruments.

The Treasury is in a very tough position in trying to manipulate home loan rates. Creating a new Federal mortgage program could be very risky. How would rates be set, who would qualify, and can the funds be used for purchases and refinances are just some of the questions being asked. The other critical concern is implementing such a program without destroying the current mortgage securities market. Doing so could have the unintended consequence of causing additional economic turmoil.

Rates are not going to 4.5% with the wave of a wand by Hank Paulson or Ben Bernanke. As a matter of fact, the massive borrowing to fund the TARP program has a negative effect on rates. At this time, the announcement still leaves a lot of uncertainty. What we do know is that rates are at historic lows and house prices have moderated setting up a great scenario for people who need to refinance or are looking to buy a home. Waiting for rates to fall to 4.5% may leave people sorely disappointed. Take advantage of the great opportunities today

Joe Farro
Certified Mortgage Planner
Premier Capital Mortgage

Mortgage Market Update for 12/10/08

Luke Landis (Heartland Mortgage Group) — Wed, 10 Dec 2008 12:48:28 -0600

Mortgage Market Update 12/08/08

Luke Landis (Heartland Mortgage Group) — Mon, 08 Dec 2008 14:46:36 -0600

Mortgage Market Update 12/05/08

Luke Landis (Heartland Mortgage Group) — Fri, 05 Dec 2008 14:43:17 -0600

Mortgage Market Update 12/03/08

Luke Landis (Heartland Mortgage Group) — Wed, 03 Dec 2008 12:44:00 -0600

Mortgage Market Update 12/01/08

Luke Landis (Heartland Mortgage Group) — Mon, 01 Dec 2008 12:24:58 -0600

Mortgage Market Update 11/25/08

Luke Landis (Heartland Mortgage Group) — Tue, 25 Nov 2008 15:04:06 -0600

Mortgage Market Update and interview with local appraiser

Luke Landis (Heartland Mortgage Group) — Fri, 21 Nov 2008 13:55:41 -0600

Mortgage Makert update and interview with local appraiser @ Yahoo! Video

Mortgage Market Update for 11/17/08

Luke Landis (Heartland Mortgage Group) — Mon, 17 Nov 2008 13:11:37 -0600

Mortgage Market Update 11/12/08

Luke Landis (Heartland Mortgage Group) — Wed, 12 Nov 2008 14:42:03 -0600

Gorgeous Views, Private Setting

Luke Landis (Heartland Mortgage Group) — Tue, 11 Nov 2008 14:32:57 -0600

Photo Gallery

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Description and Features

Enjoy a private setting with easy access to schools, shopping and the interstate. This 3 bedroom 2 story in Johnston is ready for you to move right in. The possibilities are endless with neutral paint and flooring throughout along with over 700 square feet of basement ready to be finished. The master suite includes a private bathroom, walk-in closet and gorgeous city views. No more lugging laundry up and down the stairs with the conveniently located laundry room/bath area on the second floor. On the main level, you can dine in the eat-in kitchen with center island. This room is also open to the spacious family room. Just as you enter the home, there is a room with beautiful French doors that could be used as a home office or formal dining room. Save money with this energy efficient home. The average utility bill is only $109/month! Come check it out today. $1000 towards buyers closing costs when using preferred lender.

Bedrooms:	3
Bathrooms:	2.5
Parking Spaces:	2
Square Feet:	1478
Lot Size:	8,712
Year Built:	2005
Floors:	2
MLS #:	337994

Location

Click to view map: 5801 NW 92ND CT Johnston IA 50131

Links

Mortgage Market Update 11/07/08

Luke Landis (Heartland Mortgage Group) — Fri, 07 Nov 2008 13:11:05 -0600

You've got better things to do on a Sunday than hold an open house. It's not the greatest feeling having your home opened up for strangers to ogle at your closets or poke through your shower. And while experts may debate the value of open houses, you want to get that property sold, so you do what you have to do. Your Realtor or agent should fill you in on the basics, such as getting the house as clean and tidy as possible for the big day, making sure both yards are trimmed and some fresh flowers are sprouting, and always hiding money, medication, jewelry or small valuables. In addition, here are some extra tips to make your open house count (and make you feel like you were productive during those precious Sunday hours): Make It Generic -- Yes, it's still your home, but you're trying to get other people to picture it as their home. Put away all of the family photos, the children's art, the shopping lists and doctor visit reminders from the refrigerator. And turn the volume on the message machine to "off" so potential buyers aren't screening your phone messages. Clear the Decks -- Stick the fancy electronic toothbrushes, irrigators, deodorants, perfumes, etc. under the sink in the bathroom, and find a hiding place for your coffee maker, Cuisinart and juice maker in the kitchen. The more spacious countertops look, the more people will remember your house. "Nice clean counters give people ideas. They want to know if they're big enough to store their own appliances and products," says Lance Mohr, a Tampa, Fla. Realtor. Dinner! -- Put out your best place settings on the dining room table. It adds a touch of class, making it appear that you're going to be serving a fabulous dinner party later in the evening after the potential buyers have scooted back home, even if you're really planning on KFC in front of the TV. The Doormat Trick -- Just before most people enter a house, they reflexively glance down and give their shoes a rub on the doormat. If you're selling, now's the time to go all out and invest in a nice one. It's a subtle sign that you care about the property and that you're no slob (even though you may have gotten along just fine without one for the last few years). Way to a Buyer's Heart -- Bribes. In this market, try anything. If your open house is occurring when the weather is cool, leave behind a big tray of freshly baked cookies or brownies or a canister of hot chocolate and paper cups. In summer, a big pitcher of lemonade or mini-bottles of cold water can cause some thirsty soul to pause and take a good look around at your house. Take Off -- It can be intimidating for a potential buyer to ask an agent frank questions about a property with the owner trying to listen in the hallway. Plus, buyers are expecting to see the house, not you, sorry. "I had an owner who came back home early from a hike during the open and took off his shirt," says real estate agent Rob Smith of San Diego. "It was a great house, but people came in and saw this sweaty guy without a shirt and they were grossed out." And don't forget to take your barking dog with you.

Mortgage Market Update for 11/05/08

Luke Landis (Heartland Mortgage Group) — Wed, 05 Nov 2008 14:45:17 -0600

Wow! What an election. I'm sooooooo glad its over with. Now we'll see just how many campaign promises are followed through on. My hope is that now our country can go from red and blue, and come together and be purple. My hope that this new administration can bring everyone together. My hope is that our economy doesn't get worse. Have a great day and a productive week.

Beautiful House Great Location

Luke Landis (Heartland Mortgage Group) — Mon, 03 Nov 2008 15:38:51 -0600

Description and Features

Great Home with Tons of Space! Multiple Updates includes: Stainless Steel Dishwasher & Microwave (2005), Light Fixtures, Ceiling Fans, Nickel Finish Hardware, Custom Wood Blinds, Atrium Door to Deck, Interior & Exterior Paint! Eat-in Kitchen features Breakfast Bar, Pantry & Built-in Desk. Fireplace in Family with Oak Bookcase & Cabinetry. Front Room could be used as either Formal Dining or Living Room. Master Suite has 3/4 Bath & Large Walk-in Closet. The real Surprise is the Lower Level! Fully Finished with Rec Room Family Room, 4th Bedroom/Office and Full Bath with Jacuzzi Tub! Fenced Yard & Nicely Landscaped! Close to Parks, Schools, Ball Fields, Grocery & Greenbelt Paths! $500 towards buyers closing costs when using preferred lender!

Bedrooms:	4
Bathrooms:	3.5
Parking Spaces:	2
Square Feet:	2800
Year Built:	1994
Floors:	2
MLS #:	337017

Location

Click to view map: 15122 Hawthorn Clive 50325

Links