Spencer's presentation below about the trends in internet home buying had a couple of real eye-openers for me. (You can get the whole presentation to share with your office as either a ppt or pdf by clicking here.)
These buyers use much less time of your agents (visit half as many homes and buy quicker)
They visit brokerage and agent websites nearly as often as they do realtor.com and they are looking for broker representation while surfing
iPhone real estate apps are going to be VERY important (AT&T coming to Central OR in a matter of weeks, click here.)
Here is my presentation from the NAR Convention in San Diego, "Understanding the Internet Buyer". If you ever want me or someone from Zillow to present to agents in your office (in person or via webinar), please let me know.
Here's the video. It seems to crash the Firefox browser when I embed the video, so you'll have to watch it over on ustream.
Rates are even better this week than last! We are locking conforming loans at 4.625% for 30-year fixed for the price of an origination and normal closing costs.Why the improvement? Mortgage Backed Securities (MBS) continue to ride sky high with values very close to their 2-year high-water mark set 6 weeks ago.There are more investors wishing to buy MBS as an excellent investment, now safely returning twice what CDs and other fixed income instruments are returning.The volumes available (supply) of mortgage bonds dipped lower in the last 2 weeks as home purchases and refinances slowed, causing demand to exceed supply.
All of this is possible because the inflation monster is secured tightly in its closet for apparently many more months to come, leaving supply and demand to rule the day. Two very critical factors to watch for in supply and demand are Fed purchases of MBS and foreign investors’ appetite for US debt instruments. The Fed purchase program will taper off through an end, slated for March 30, 2010.See the chart below for Fed purchase history.The other most significant influence on gov’t issued debt (MBS compete directly with T Bills for investor demand) is the level of interest from overseas buyers.
Much has been said about “When will China stop buying our debt?”The answer was clarified to me Friday by the Oracle of Omaha, Warren Buffett in a Charlie Rose interview. If you didn't see it, watch for it on Bloomberg replays or see excerpts of it by clicking here.He explained many things very clearly including why China buys US debt, even after they threaten to walk away.It is all about the US-China Trade deficit which is running in excess of $400 Billion annually.Those are real, US dollars being exported that have to work their way back into the US to have any value.The most logical place for that until the trade balance shifts is into Treasury securities, hence the continued demand.Now the biggest problem will come if we deficit-spend our way into a need for even more bond investors than this cycle can support. Current projections of deficit spending over then next 7 years would cause irreparable damage to this delicate balance.Mr. Geithner will have to apply a hand of restraint in the current spending plans.Watch for this to become a much more important topic in the coming year.
Last weekI pointed out that the trend of Central Oregon home unit values and median prices were moving in different directions. (Unit volumes have recovered in Oct ‘09 to be ~90% of Oct ’07 transactions, whereas median prices have continued to fall, now at ~50% of Oct ’07 prices.)I asked the question there about price per square foot because median prices are a combination of two very different influences, changes in the price per square foot (true value indicator) and a shift in the “mix” of higher and lower priced homes.Well one of my readers got back to me with some good-news facts.Even though the median price has fallen by 50%, the price per square foot in the same time has droppedless than 30%.This shows what we have known from the activity: the median price drop is significantly a reflection of the shift in mix to starter homes selling more than higher-end homes.Time will tell, but this should give some hope for a recovery in the median prices as mix shifts again to more normal.Central Oregon is still the best place in the US to live.If you haven’t seen it already – make sure you check out the new Visit Bend promotional video, click here.
The coming week has economic reports of interest.The retail sales reports will be out today and PPI/CPI inflation data on T/W.The following week’s auctions of T-Bills will be interesting when announced on Thursday.If you are tired of the impact HVCC has had on your deals, click here for a blog of recent experience. Check out the job interview skills video toward the bottom of this email and make it a great week!
Thank You! I appreciate your support ... lots of changes in the industry and many have not survived - Thanks to you keeping us top of mind - Signet has continued to thrive and celebrated its 6th year in business this summer! As I am 100% referral based - I depend on you to keep growing! We have added exceptional professionals to handle the increase – don’t hesitate to call.
Originially sent out Monday 11/9/09 - for realtime receipt of our blog - email dave@signetmortgage.com
Rates, Housing, Tax Credits, Unemployment, FED announcements, Treasury Auctions, Oh My!We had a full week with many different topics in play.To cut to the chase: Signet Mortgage lending rates remain for 30-yr fixed at 4.75% with an origination and normal closing costs for conforming amounts and qualified borrowers. We are locking and closing loans.Come see us
THE Fed held their FOMC meetings and announced on Wednesday that they are not raising interest rates.In fact, based on the state of the economy (all rosy stories aside) the FOMC statement that we should expect “exceptionally low levels of the federal funds rate for an extended period “ (full statement: click here) is feeling like it may be in place for more than just a number of months.The Fed’s primary objectives are fostering growth and avoiding inflation.If anything, we continue to see if anything, deflationary signs.And unemployment is a big part of that sign.We won’t see the Fed raising interest rates until they start seeing unemployment turn.
The headliner unemployment number is now officially 10.2%, highest since 1983 when I was graduating from business school.Remember just over a year ago when still at under 6% unemployment and Clayton Christensen made a statement that unemployment would rise over 10% and we were in awe because we respect his opinion so well?Now the real news is not the headliner.The real news is that with adding in the underemployed the number is now at 17.5%, and growing.This is why the fed expects that “inflation will remain subdued for some time .“That’s not to say we won’t see interest rates rising, just delayed and dependent on supply and demand rather than inflation.
The big news that raised Alerts! and Tweets from Signet Mortgage this week was the passage and enactment of the “Worker, Homeownership, and Business Assistance Act of 2009”. (Click here for text of the Act.) While this and its expanded tax credit got all the attention for its impact on the housing market, the passage in the House Saturday night, of the health care bill will ultimately have a broader impact on the long-term housing market and values.But for now we have an expanded and extended tax credit.We’ve told you about the main points:
$8,000 First Time Home Buyers credit continues
New $6,500 for existing “Move-Up” homebuyers
- Same home for 5 yrs of past 8-yr period
Contracts (EMA) signed by 4/30/10
Closings before 7/1/10
Home purchase price of $800,000 or less
Income limits expanded
- Old: $75,000 single, $150,000 Married
- New: $125,000 single, $225,000 Married
Tax Return filing will require HUD-1 be Attached
The rest of the story is timing how these items become effective.The good news is that the “Move-Up” credit is effective for purchases closed from last Friday Nov. 6th and forward.This is also true for the $800,000 limit and for the new expanded income limits.The surprise is that the tax return filing requirement for a signed HUD-1 attachment is retroactive to all credit-claiming sales for 2009.This isn’t bad, just expect a rush of requests at the title companies come tax time.
The impact of the credit has been debated, but there is plenty of evidence (increased volumes and dropping median prices) that it has had a big effect recently.The question is, will the expanding to move-up buyers have a broadening effect?The congress hopes so.Some local evidence of the impact is seen in a report from Pat Huber, CPA and Broker at Taft Dire here in Bend.She points out that unit volumes dropped to a low point a year ago and have climbed back to 91% of 2006 volumes (comparing October stats.)At the same time, median prices for Oct 2009 compared to October 2006 are only at 52%.The recent, increased volumes have largely been at lower prices.If any of you are numbers-fans, I’d love to see the same measures using price per square foot.I know it has dropped, but I am betting not to a 52% level, supporting my supposition that the FTHB impact that is driving some of the drop in median prices.If that is the case, we should see some stabilizing and perhaps recovery in the medians.The interesting story will be how we come out of the credit-supported buying in the late-spring, early-summer. Don’t expect further extensions.
Here is a great rant, and well founded. We've seen a lack of accountability caused by the HVCC. Two appraisals performed within days of each other had vastly divergent answers (of course, the appraisal done for a potential refi by the contractor/seller's bank was much higher than the one done for the borrower's bank in this purchase transaction.) So we rebutted the comps used for the lower appraisal (some as much as 12 months old and not very nearby.) The AMC sent the rebuttal to the appraiser along with some suggested additional (and more appropriate) comps. The Appraiser responded with "additional comps considered and with adjustments continue to support our previous conclusion."
No kidding - what were they going to say. "Oh you are right, we are incompetent and missed this entirely."?? No, they will always justify their actions (incompetent as they appear) and because we can't direct our business away from them, they are not accountable. Even competent appraisers I have spoken with recognize that this is one of the failings of this NY State-imposed government protection of the poor, illiterate american citizens who can't survive without our stepping in.
The government regulation pendulum has only begun to swing to its fully-imposing, over-regulated stance and we can already see the ill effects. The full effect will be devastating to our economy. -Dave
One of the seminars I
attended today at NAR was entitled 'Managing the Risks
and Opportunities of the New Home Valuation Code of Conduct (HVCC)."
Let me say at the
outset, I sat through the whole friggin thing and didn't note any
opportunities - unless you count aggravation as an opportunity.
No shortage of risks, however.
NAR did a great job
staging this - they had a panel in place that included spokesholes from
FHFA, FHA, Fannie Mae, Freddie
Mac and an AMC. Oh, and they had two Realtors sitting in
for balance. In my humble opinion, if I had a load of the bullshit they
were peddling today, I would have the healthiest, greenest lawn in
Southern California.
Alfred Pollard, General
Counsel for the Federal Housing Finance Agency; Jacqueline Doty,
Directory of Collateral Policy for Freddie Mac; and Mark Johnson,
COO for LSI (and Appraisal Management Co), started the
process with brief statements on why the program was started (to combat
fraud) and how well it's working. As Mr. Pollard stated - 'we
have experience a systemic event for the financial markets, primary and
secondary lenders, Realtors, institutional lenders and appraisers - all
of those industries are on the table as we determine what comes
next.'
It was interesting to
note that the one entity that he left out, the one he happens to work
for, wasn't included as being on the table - THE GOVERNMENT.
The one institution central to the whole fiasco is
the only one not up for evaluation and found wanting. In fact, these
sanctimonious bastards are now sitting in judgement of the rest of us
and determining how they can keep us from running amok again. Ain't
that special.
Our Realtor panelists,
Steve White, owner of two large Keller-Williams offices in LA; and
Penny Triplet, a Realtor and appraiser from Ohio, stated the litany of
complaints that you are all familiar with. Delays, incompetence, bad
appraisers, out of area appraisers, higher costs to customers, lost
transactions, lack of portability - you name it, they brought it
up.
The government people
claimed to be listening but they were just dancing. Time and again they
quoted passages from the 6 page HVCC document - well this is how it's
supposed to work; well, this is what it says; well that's another of
those myths; well this is how you're supposed to work through that.
Basically they acknowledged that 'there might be a few bad actors in
the group but this HVCC has solved a lot of problems and is a wonderful
thing.'
Oh, and if you thought
it was scheduled to expire in June of 2010 - think again, It's in place until next November and
there ain't nothing you or (NAR President) Charles MacMillan or anybody
else can do about it. Your opportunity is to learn how to work with it
because it's here to stay. Even after the current HVCC
expires, some form of the bureaucracy that has been set up to
administer it will continue because, like any government program, once
born it never dies.
As if the moderator knew
the Q & A might get testy, she decided that rather than
take questions from the floor, she would just take questions
submitted in writing. That lasted about 15 minutes until she could no
longer ignore the line of Realtors standing quietly at the microphones
waiting to ask questions.
Still no straight
answers were forthcoming. Realtors were advised to report bad appraisers -
that is if you can figure out who they work for or if the AMC or the
lender cares enough to return your call (after 18 months, the office
for reporting bad appraisers still hasn't quite been set up but it's
coming soon). Realtors are
allowed to talk to appraisers and even give them comps, of
course provided the appraiser even bothers to call you or come out to
your city or doesn't report you for applying undue influence by giving
them accurate comps. If you get a bad appraiser you can request a do-over,
of course it will be done by the same guy whom is now pissed off and
never mind that the delay might cost you the deal. If it's so bad your
buyer switches to another lender of course the
appraisal should be portable (like you'd want to port that
crap) unless the new lender doesn't want to accept it or it's from an
appraiser that's not accredited by their AMC, in which case your client
will get to buy a new one and hope it's better than the old one. You've
got an appraiser from 200 miles away? Or even from another state? Jeez,
that's not supposed to happen because the HVCC says it's not so it
can't be. That's just anecdotal information. The Freddie Mac
rep said complaints to her office are waaaay down since HVCC.
Complaints from appraisers that is. Turns out they don't take
complaints from Realtors unfortunately.
One Realtor summed it up
perfectly - 'The
government appears to think the problem in under control. Realtors
think the problem is out of control. How do we get the two
sides together?
If todays panel is any
indication, we don't. Hang on kiddies - it's gonna get worse before it
gets better. We're from the government and we're here to help you.
Obama to sign legislation tomorrow - will extend to June 30, 2010 - First Time Home Buyers still $8,000 and Some Existing Home Buyers Qualify for NEW $6,500 “Move-Up” credit ...
November 5, 2009
Congress acted with urgency today to get the Unemployment and Housing Credit bill out before the Unemployment numbers are reported tomorrow. As part of this, the House accepted the Senate amendments to the bill Extending and Expanding the Home Buyer Tax Credit. As reported in theNew York Times, minutes ago, the existing credit will both be extended through the first part of 2010 and expanded to higher income buyers. A new $6,500 credit will be there for some long-time existing homeowners, moving to a new home.
Some cheer, others not so. Is this the right thing to do? As real estate professionals we look forward to the increased activity, but what are the unintended consequences of congressional meddling with the market economy (see Clunkers and see Barney Frank demanding expanded qualification guidelines at FNMA.) How will it be paid for? The projection is that this extension will double to $21 billion the cost of the program.
Here are the important points:
$8,000 First Time Home Buyers credit continues
New $6,500 for existing “Move-Up” homebuyers
- Same home for 5 yrs of past 8-yr period
Contracts (EMA) signed by 4/30/10
Closings before 7/1/10
Home purchase price of $800,000 or less
Income limits expanded
- Old: $75,000 single, $150,000 Married
- New: $125,000 single, $225,000 Married
Tax Return filing will require HUD-1 be Attached
If you are a glutton for punishment, here is the text of the legislation.
As we have told you in the past, the true champion of the Housing Credit Extension is Senator Johnny Isakson (R-GA) a Realtor of 33 years.Here is what he had to say to explain the need for this extension AND expansion now:
“In addition to the $8,000 credit extension for first-time home buyers, a move-up buyer tax credit of $6,500. This is the cornerstone of the substitute before us now. It offers to any previous homeowner who has lived in their home for at least the last 5 years the opportunity to sell that home, invest in a new home, and take up to a $6,500 tax credit. That is going to help us boost what is the problem in the U.S. housing economy today, and that is what is called the move-up market. It is the gentleman who is transferred from Delaware with Hercules to Brunswick, GA, who cannot sell his house in Wilmington and cannot buy a house in Brunswick because the markets are so frozen and the move-up market is dead. Now he has an opportunity to sell that house and have an incentive for its purchase in Delaware and an incentive to come and reinvest that money in Georgia in a house in Brunswick. It will make a measurable difference over the next 7 months in our economy.
“We also raised the means test on income from $75,000 to $150,000, which is in the current credit, to $150,000 and $225,000 in the new bill for both move-up buyers as well as first-time home buyers. Those income thresholds will open the incentive to more Americans and I think will show a measurable increase in the amount of business that takes place.
“In response to the Internal Revenue Service concerns we expressed a few months ago on fraud, we put in every single request they made for fraud to see to it the HUD-1 is attached to tax statements, to see to it there is no fraudulent claim of the money, and to see to it the IRS has every tool they can to prosecute to the fullest anybody who would abuse this credit.”
If you are interested in reading the actual legislative language of the Home Buying Tax Credit Extension bill, it is available by going to this link: http://bit.ly/3UustY This is an amendment (S.AMDT.2724 to H.R.3548) to the Unemployment Extension Bill as offered by Senator Schumer.
As described previously the terms of the expansion to long-time homeowners includes a requirement that they have lived in the same principal residence at least 5 of the last 8 years. The credit will be $6,500 for those individuals.
Limitations are set at income of $150,000 single and $225,000 married (previously reported at $250k)
Maximum home purchase price is set at $800,000 to qualify for the credit. This will be of more interest in California and High priced regions.
Happy reading and remember it is still in amendments to a bill that hasn't passed yet. More legislative "sausage" to be made before we have something to send to the White House for signature.
One of our own realtors here in Bend is keeping up with the legislative efforts on the combined Unemployment Extension and Home Buyer Tax Credit.I am betting on action including a Senate vote and into conference this week.
The Senate on Monday voted 85-2 to place limits on further debate of HR 3548, a bill extending unemployment benefits that includes an amendment that would allow homebuyers to claim the credit on sales under contract before May 1. The vote to invoke cloture moves HR 3548 closer to a final vote in the Senate as early as today.
Stay tunned for continuing updates as news is released regarding the first time home buyer tax credit and repeat home buyer tax credit.
Plenty of news from last week and I mean even bigger than the Ducks’ smothering of the overmatched Trojans.
In FHA and FNMA home financing news, the High-Balance Conforming Limits that were set to expire this year have been extended through all of 2010.This is big residential real estate news.This legislation means that Central Oregon FHA limits will remain at $417k rather than rolling back to the ~$300k level they were headed for.And for Fannie Mae loans, while the difference in OR between “standard” conforming ($417k) and “high-balance” conforming ($447k) is minimal, the difference in markets that often provide buyers into Central Oregon is very important.California’s high balance limit of $729,750 when combined with a purchase-money second of $350,000 and an approx 20% down payment means that a home with a purchase price of $1,350,000 can be purchased without jumbo financing.FNMA-backed, conforming rates are better than Jumbo residential rates which still don’t enjoy a secondary market.
In economic news, the Q3 GDP numbers were published with a surprisingly high 3.5% growth.This news has to be tempered with a few caveats as cheerleaders call for the official end of the recession.The start of a recession officially waits for 2 consecutive quarters of GDP decline.People often look back to an earlier date to peg the start but it isn’t official until we’ve experienced the 2 consecutive quarters.With this one-quarter upturn, even at the surprising, >1% growth number, we need to remember some of the temporary stimuli that are included in the 3rd quarter, especially the Clunk of a car incentive program (see here for $24,000 per car taxpayer cost analysis.)Local inquiry resulted in one car dealership indicating that they have had ZERO new car sales in the weeks since Clunker ended.So, while we are happy for some upturn in the GDP, let’s watch for more signs of broad improvement before we relax.
In banking news, the FDIC shutdown 9 more banks on Friday and this was before the CIT restructure announcement.This brings to 141 the number of FDIC takeovers since the beginning of “The Great Recession” and 115 on the year.Incidentally, the 9 banks along with CIT are heavily invested in Commercial Real Estate.Many community banks are the repositories of land, development and commercial lending and we are just still seeing the tip of the iceberg on problems there.Once again this past week Signet stepped in to help a building owner who had been turned down on a loan renewal request with their bank (of 30 years!!) unwilling or unable to extend credit in this region.Please have building owners you know step forward early and get refinanced now rather than waiting for the current note to come due.Signet is ready to take care of their refinancing needs now.
In other legislative news, the Home Buyer Tax Credit Extension gathered momentum and some clarity this past week as we reported on Thursday.However, this is not yet a done deal.The progress last week included a voice vote of confidence in the Senate and an assurance of House passage, but the actual vehicle for passage in both houses needs to be finalized.The likely scenario has the Home Buyer Credit being attached to an unemployment extension bill that has similar levels of support.While the benefits of kick starting the economic engine are likely, the results still raise questions (see Clunker discussion above.)Assuming passage here are the high points again:
$8,000 FTHB credit continues
New $6,500 for existing homebuyers
Same home for consecutive 5-yr period
Contracts signed by 4/30/10
Closings before 7/1/10
Income limits expanded
Old: $75,000 single, $150,000 Married
New: $125,000 single, $250,000 Married
Military personnel extension into 2011
New tax return filing requirements
Fraud prevention
HUD-1 attachment to returns
I appreciate all of your support ... lots of changes in the industry and many have not survived - Thanks to you keeping us top of mind - Signet has continued to thrive and celebrated its 6th year in business this summer! As I am 100% referral based - I depend on you to keep growing! We have added exceptional professionals to handle the increase – don’t hesitate to call.
Look for expanded resources on our web site coming soon - an increased emphasis on Commercial Financing, Renovation Lending and Reverse Mortgages.
FTHB Still at $8k and Some Existing Homebuyers May Qualify for New $6,500 Credit
The Senate continues to drive for extension and expansion of the Home Buyer Tax Credit.As reported in the WSJ this morning, the existing credit would both be extended through the first part of 2010 andexpanded to higher income buyers, plus a new $6,500 credit would be created for some existing homeowners, moving to a new home.
Before I lay out the details, two words of caution:
Is this the right thing to do? As real estate professionals we look forward to the increased activity, but what are the unintended consequences of congressional meddling with the market economy (see Clunkers and see Barney Frank demanding expanded qualification guidelines at FNMA.)
How will it be paid for?Not yet clear, but the most recent House proposals all included a shift of unspent stimulus dollars to this focused cause.I could support that.
Now back to our usual rah-rah stance.Here are the important points:
$8k FTHB credit continues
New $6,500 for existing homebuyers
Same home for consecutive 5-yr period
Contracts signed by 4/30/10
Closings before 7/1/10
Income limits expanded
Old: $75,000 single, $150,000 Married
New: $125,000 single, $250,000 Married
As we have pointed out before, the making of legislation is a dark and messy affair.Some major hurdles still need to be crossed, but with Senator Harry Reid, House Speaker Pelosi and the White House backing this, it should find its way out the other end of the sausage-making machinery.Watch for it to be attached to the unemployment bill now on the floor for quick passage.
If it does make it through, you will have Senator Johnny Isakson (R-GA) to thank for it.One reason this is getting so much headway in the Senate rather than the House is the effort of Mr. Isakson.He is a former owner of a real estate firm in suburban Atlanta and worked 33 years as a Realtor. His impassioned plea on the Senate floor two weeks ago and his knowledgeable testimony before the Senate Banking, Housing and Urban Affairs Committee last week were strong statements in favor of the credit.He is seen as a very credible source of information on this topic in the Senate.
The most curious part of the whole legislative dance is that this extension seems to have the support of Senate Republicans but may be shot down by House Democrats who “have raised concerns that it carries a high cost to the government.” What the heck? Now there is a turn of the tables.
Rates continue to be excellent for home buying and refinancing, whether for personal use or investment.And while the MBS prices just dropped below the 200-day moving average we are still in better territory than we were all summer which was very good on its own.
Commercial property loans have also benefited from the improving rates recently.And while many lenders are just saying “no!”, Signet Mortgage’s lender connections are closing commercial purchases and refinances for owner-users and investors. During this past week, the White House was actively pushing for extending small business lending options (click here.).The key improvement that may affect commercial property owner-users is the expansion of limits where prior SBA caps were in the $2M neighborhood, would be moved to $5 - 5.5M.This will allow operators with existing SBA loans to go back to the well for additional loans. We are tracking legislation sponsored by Senator Landrieu (D-LA) to implement that change.
On the Homebuyer Credit front, hearings on the topic drew some attention in the week.For a good summary from Bulletin writer Keith Chu, scroll to the very bottom of this newsletter.One of those giving testimony was Senator Johnny Isakson (R-GA) who has been a Realtor in his career.Senator Isakson made a passionate plea for extension and expansion of the credit through the middle of next year.Other senators listen to him on Real Estate matters.Isakson’s testimony complete with charts showing examples of the pricing meltdown and the effect of foreclosures in the suburban Atlanta area is interesting and you can view it by clicking here.
A quick note on the residential lending process: I’m sure you have all experienced of heard of difficulties with residential appraisals recently.This has been the result of the HVCC imposed on banks and therefore borrowers by the NY State Attorney General.There is currently legislation making real headway in congress that would overturn the HVCC, allowing qualified lenders and brokers to order appraisals again.Another processing matter you need to be aware of is the change to Truth in Lending (TIL) rules.The effect is a 3-7 day disclosure requirement at the end of the process that can extend closings.Make sure you have baked in enough time to cover these longer turn times when writing contracts.
If these process headaches have been making you ill, you will want to check the helpful chart further down that compares the H1N1 swine flu symptoms to the common cold. Most important to remember is, if you have the flu, stay away from others for 24 hours after your fever (100°) has subsided for 24 hours without fever reducing aids like Tylenol
Important economic news in the coming week includes housing on Wednesday, jobs and GDP on Thursday and Consumer Prices/Inflation (PCE) on Friday.
Through all of this, rates remain fantastic.Is there anyone you know who would benefit from receiving this kind of timely information?Please hit the reply button and let me know – I’ll be happy to help them make informed decisions in this important time.Or give me a call anytime at 541 318 0888.I look forward to helping you, your clients, family and friends get the best professional advice and service available.Make it a great week!
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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