There have been several questions posed by former clients, current clients, and perhaps future clients as to what the heck is going on in the Real Estate Industry. I'll try to outline a few of those right 'freaking' now! It should be pointed out once again that our beloved Media should be taken with a grain of salt. I firmly believe they've earned it. Listening & Reading the Media is like trying to shoot pool with a rope, I'll rant about them another time though. Here goes some questions that have come my way.....
Is 100% Financing Still Available? - You are damn right! Very much so!! That hasn't been affected by the market we so often hear about....
I just bought an investment property and am a newbie at Real Estate Investing. Can I do a cash-out Refi? Probably not, based upon the recently appraised value at least. The products just aren't out there to liquidate your investment. Hold onto to the property for a bit and re-think your exit strategy. As with any investment, there are right and wrong times to buy....hold on to it and make it right at a later date. Investing is like life, patience is often times a virtue.
I have an adjustable rate coming up, what should I do? Contact a Mortgage Professional that you trust and hear out your options. Guidance is just as much a part of your plan as short-term solutions. Evaluate both, and stick to a plan that makes sense for you and your family.
Rates are high, when are they coming down? We are spoiled brats! Rates are still very low, yet we fail to take advantage of that fact because we've been fed so much manure for so long. Let me clue everyone in on something, it's not only the rate that allows you to afford a house, it is you. People will always buy houses and need money out of the equity they have, regardless of the rate. If you think an interest rate of 6.25% is high on a 30 year mortgage...congrats, you are a renter!
There is too much Paperwork Involved, we are better off where we are at, aren't we? Well, let's look at the pros and cons of what you are doing. As far as paperwork, yeah, it does get a bit ridiculous at times. Yet, this isn't a Pay-Day Loan, this is a mortgage on your home. It's a financial decision that can very much affect your Capitalistic Life. Go to your local bank and then come back to me...see what you get. I already know.....a large % of the time, I will give you a better deal. But enough of me, it's about you.....
And you are important and have questions that we have the answers too!
I am Jason Sardi, I do Mortgages of all kinds for a living. I also occasionally write. Either way, if you want your Real Estate Financing Needs taken care of, I'm your guy. Or....I could make one hell of a drinking buddy. You want the truth, ask me a question. As far as the Market, it's more ALIVE than you think...
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Add me to the ranks! Jason I loved this post...and your little pug pal too!
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Jason,
Right to the point, Awesome :0) It's true there is plenty available, and we have the tools for us to use. Pink looks good on you.
Tom Weiss