news: A Great Gift for Your Clients - 02/28/12 07:06 AM
A Great Gift for Your Clients
I try to stay on top of things and share all the tips and information I come across with my Realtor partners, so I appoligize if this is old news.
Art Van Furniture has partnered with the Michigan Association of Michigan to provide your clients with $150 gift after close.  How exciting that you are able to help your client furnish their new home or even design and decrotive advice.
As a Michigan Realtor all you have to do is go to the Art Van Home Rewards Site and Sign Up for an account.  From there you … (2 comments)

news: 2011 Sellers and Sales - 02/27/12 06:33 AM
2011 Sellers and Sales

Overall it looks like 2011 was a great year to trade up for a lower payment. There is a clear change in some of these numbers for sellers.
Half of sellers traded up for a larger and/or higher priced home 60% purchased newer homes Typical seller had lived in therir home for 9yrs (up from 6yrs in 2007) 87% used teh assistance of a Real Estate Agent Tyically homes were sold for 95% of the listing price 61% reduced their asking price at least once 41% of sellers offered incentives to attract buyers (primarily home warranties … (6 comments)

news: Financing a Home in 2011 - 02/27/12 05:51 AM
Financing a Home in 2011
The home financing market in 2011 was full of many twists and turns.  New regulations continued to put up road blocks, some of which there was no way to pass. There were also many homes purchased with cash due to low purchase prices (in some areas homes were cheaper than cars). 
Some statistical highlights include:
87% of home buyers financed their home (most at a 89% Loan to Value) 95% of first time of buyers financed their home 82% of repeat buyers bought with financing 46% admitted they made some financial sacrifices in order to … (3 comments)

news: The Home Search Process of 2011 - 02/22/12 03:41 AM
The Home Search Process of 2011
The one ultimate thing for us all to know is how and what a potential home buyer does to start the home search process.  We all normally assue that the first step is for the curious home buyer to go online but the stats this year have changed slightly just as our other characteristics have.

35% of hoime buyers start their search by looking for properties online 10% of home buyers looked online for information about buying a home Online home searches dipped to 88% from 90% last year (possibly due to the shift … (4 comments)

news: Characteristics of Homes Purchased in 2011 Profile of Home Buyers and Sellers - 02/22/12 03:02 AM
Characteristics of Homes Purchased in 2011 Profile of Home Buyers and Sellers

 
It is important for all of us to understand the characteristics of the homes that were purchased from mid 2010 to mid 2011 so we understand how the homes stack up to the home buyers.
16% of homes purchased where new construction Typical size home was 1,900sq ft Typical age of home was 18yrs (built in 1993) Typically the home purchased had 3 bedrooms and 2 bathrooms 77% of homes purchased were detached single family residences The top three factors influencing neighborhood choice are: quality of neighborhood, … (6 comments)

news: 2011 Profile of Home Buyers and Sellers Environment & Characteristics of Home Buyers - 02/22/12 02:08 AM
 
2011 Profile of Home Buyers and Sellers Environment & Characteristics of Home Buyers
 
We have all gotten to have a front row seat to the changes in the Housing Environment over the last year.  In the previous years we had seen a rush to buy to take advantage of home buyer tax credit and record low prices but as we know those have ended.

Home buyers that bought during this survey period (mid 2010 to mid 2011) were buying due to family changes and job relocation and not because of tax incentives. There were still more than one-quarter  … (2 comments)

news: Changes to HARP Program Announced - 11/22/11 05:58 AM
Changes to HARP Program Announced
See If You Can BenefitJust a note to remind you that in October, President Obama announced plans to open up refinancing to more homeowners who are underwater. This proposal was a revision to the current Home Affordable Refinance Program (HARP).
So what does this mean to you?This means that if your mortgage is owned or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible to refinance your mortgage under the enhanced and expanded provisions of HARP.You can determine whether your mortgage is owned by either Freddie Mac or Fannie Mae by checking the … (0 comments)

news: Restoring Higher GSE Loan Limits? - 10/21/11 07:28 AM
Senate has Passed a Measure to Restore Higher GSE Loan Limits
Late yesterday the Senate approved the amendment to restore the maximum loan limits on government backed mortgages to where they were two years ago; $729,750. Additionally, this restores the FHA loan limit to 125% of the median home price in low cost areas (it was reduced to 115%).
This would roll back the October 1 reductions in the Fannie Mae, Freddie Mac and FHA/VA loan limits in high cost areas.  
The goal with this is to get the housing market moving faster to play a part in the economic recovery.  … (3 comments)

news: IMPORTANT NOTICE- Funding of VA Loans - 10/05/11 04:36 AM
IMPORTANT NOTICE

 
 
 
Today we have seen a halt in the funding of VA loans until the VA Funding Bill is signed by Congress and
President Obama.  At this time the reduced VA Funding Fee has not been approved and it apprars that the reduced fee may not pass.  Without having the proper fees in place mortgage lenders are unable to properly disclose or collect the funding fee.
 
I want to make sure that all VA borrowers are aware of this and have our appoligies on the delay.  We are prepared to redislcose and close all our … (1 comments)

news: Yes it is Time to Buy - 02/23/11 03:51 AM
Homes are the Best Investment; so Yes it is Time to Buy
 
During my daily ritual of reading a few industry articles I came across one that I just had to share.  Why you best investment is a house; Commentary: Home-sales data highlight a buying opportunity on Market Watch.  After completing the short read I am inspired for the day.

 
We all have continued to hear many consumers saying that they are holding off to buy as the "doom and gloom" in the market does not seem suitable for home purchase.  They are sitting back waiting for everything … (1 comments)

news: Are you Familiar with the Loan Quality Initiative? - 05/06/10 07:36 AM
New Rule Makes for Bumpy Ride to the Closing Table
This is really BIG news; new rule from Fannie Mae called the Loan Quality Initiative (LQI)!
What it means is that in addition to “underwriting conditions” that may be required from the underwriter to close the loan, the loan must now be  “audited” by a quality control person to double-check the underwriter.  Yes, the loan will be "underwritten" twice—and not at the same time either! Here are some of the things they’ll be checking for:    Borrower Identify        Income Calculations        Employment    Source of Assets        Appraisal Review             MI CoverageWhile … (0 comments)

news: Friday Twitter Rundown - 04/23/10 09:10 AM
 
THE FRIDAY TWITTER RUNDOWN
 
Here are some of the most recent twitter feeds.  Make sure you are up to date on what is happening!
 
·  Modification ....becoming more and more a joke http://www.consumeraffairs.com/news04/2010/03/nightmare.html about 1 hour ago via web
 
·     FINALLY putting our foot down! http://www.consumeraffairs.com/news04/2010/04

/ftc_credit_scores.html about 1 hour ago via web
 
·     More stable housing marketing in the future? http://www.consumeraffairs.com/news04/2010/04/home_prices422.html about 2 hours ago via web
 
·     Scammers posing as debt collectors: http://www.consumeraffairs.com/news04/2010/
04/debt_collector_scam.html about 2 hoursago via web
 
·     $150 Million Bank of … (2 comments)

 
Katrina Cole, Inlanta Mortgage, Business Development Manager (The Jonathan Arnold Team of Inlanta Mortgage)

Katrina Cole

Inlanta Mortgage, Business Development Manager

East Grand Rapids, MI

More about me…

The Jonathan Arnold Team of Inlanta Mortgage

Address: Grand Rapids, MI, 49506

Mobile: (616) 350-5515

Email Me

Bringing the important financial news to you in words that we can all understand from the professionals you trust. Throw out the lingo and know the facts. Take some time to learn some new marketing strategies and new technology with our featured posts. It is not about what and how much you know, it is how you choose to share and utilize that knowledge. Katrina Cole; taking your from invisible to Visible!


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