mls listings: Mortgage Rate "movers" for the week ahead- 03/02/09 - 02/27/09 04:47 AM
The important Employment report will come out next Friday. As usual, this data on the number of jobs, the Unemployment Rate, and wage inflation will be the most highly anticipated economic data of the month. Early estimates are for a loss of over 600K jobs in February.
Before the Employment Data, the ISM national manufacturing index and Personal Income will come out on Monday.
Pending Home Sales, a leading indicator for the housing market, is scheduled for Tuesday.
Productivity, Factory Orders, and Construction Spending reports will be released on Thursday.
The amount of money the US Treasury will need to borrow to fund … (1 comments)

mls listings: Mortgage Rate "movers" for the week- 2/23/09 - 02/23/09 04:45 AM
This final week of February will reveal a number of important indicators of economic growth.
Existing Home Sales and New Home Sales will be released on Wednesday and Thursday, respectively. Durable Orders will also come out on Thursday.
Revisions to fourth quarter 2008 Gross Domestic Product (GDP) will be released on Friday, along with the Chicago PMI national manufacturing index.
Consumer Sentiment and Consumer Confidence are on the schedule as well.
Fed speakers, the scheduled Treasury auction on Thursday, and new information about government programs also may have a significant impact on mortgage markets this week. Call or e-mail me before you … (0 comments)

mls listings: It's all in the 'attitude'! - 02/16/09 05:30 AM
After years of being the "grumpy" one, the cynic, the glass is half empty person, I have finally arrived. Last week someone who met me last year and has spent just a small bit of time with me said "You are such an inspiration, you are always so upbeat and looking at the bright side of things". Whew. That was a goal of mine, and I might have achieved it! 
So what is your attitude like? Are you as sick and tired of hearing complaints as I am? Last week the manager of the local gas station was sweeping the sand … (5 comments)

mls listings: Mortgage Rate "movers" for the week ahead- 2/16/09 - 02/13/09 05:16 AM
Inflation data will highlight a full Economic Calendar next week.
Industrial Production, an important indicator of economic activity, and Housing Starts will be released on Wednesday.
The Producer Price Index (PPI) focuses on the increase in prices of "intermediate" goods used by companies to produce finished products and will come out on Thursday.
The Consumer Price Index (CPI), the most closely watched monthly inflation report, will come out on Friday. CPI looks at the price change for those finished goods which are sold to consumers.
In addition, investors will continue to wait for details from the Treasury on the Financial Stability … (0 comments)

mls listings: Explaining the 'potential' new Homebuyer Tax Credit - 02/05/09 06:51 AM
I'm sorry I didn't post this IMPORTANT news earlier, but I've been very busy this morning. Last night, the Senate added a significant homebuyer tax credit to the housing stimulus plan.  Here are the key elements of the credit:
*  The tax credit is for the amount of $15,000 or 10% of the purchase price (whichever is less), with the option to utilize all in one year or spread out over two years.  The credit does not have to be paid back.
*  The tax credit is available to all purchases of any home from date of enactment for one full … (2 comments)

mls listings: Treat your Business Plan like a lead...Follow Up! - 11/25/08 12:43 AM
There have been a lot of comments on AR the past few weeks regarding looking at your 2009 Business Plan (I've written a few myself!). As we've all witnessed and experienced, particularly over the past several months, the economy is in constant flux-day-to-day, week-to-week, month-to-month-and the real estate industry feels each and every shift.
You need to be prepared to shift with it, just as you would with the fluctuating needs and goals of your clients. While you're thinking about your business plan for next year and setting your production and personal goals, keep in mind that the end of 2009 … (1 comments)

mls listings: New HUD form unveiled today - 11/12/08 01:14 PM
HUD today released their proposed changes to the HUD-1 settlement statement. If you haven't seen it, I've got a copy of the website page below to take a look at it. 
The good news: easier for clients to read. The bad will make a Realtor's life more difficult because it give Chartered Banks a leg up in dealing with clients over Mortgage Professionals. They still require Brokers to list any YSP (yield spread premium) but Banks DON'T HAVE TO. I have no problem with listing YSP....but why shouldn't everybody have to??? It's still paid out regardless. I guess the … (3 comments)

mls listings: Mortgage Rate "movers" for the week- 11/3/08 - 11/02/08 12:10 PM
Welcome to November! As we start the first business week, there are a number of economic reports out this week that will affect mortgage rates.
The biggest report this week will be Friday's important Employment data. As usual, this data on the number of jobs, the Unemployment Rate, and wage inflation will be the most highly anticipated economic data of the month, since the health of the labor market is perhaps the single biggest factor in the performance of the economy. Also this week, the ISM manufacturing index and the Construction Spending report will be released on Monday. ISM Services is scheduled for Wednesday, and Productivity will come … (0 comments)

mls listings: Should a 1st-time homeowner seminar be re-named? - 10/31/08 01:45 AM
I spent my afternoon & evening yesterday at an "Emerging Homeowner" seminar in brooklyn Park, which was sponsored by the Minnesota Housing Finance Agency. There were 36 'vendors' of services there, from credit repair services to child mortgage & realtor services. 2 things really suprised me, however.
1.) Of those 36, only 4 were Realtors. I was very suprised. I would have thought there would have been more Realtors there. But more suprising......
2.) Almost every consumer I talked with was VERY confused and VERY nervous about buying a home. They really didn't know the 1st thing about buying a … (9 comments)

mls listings: Just a political thought..... - 10/29/08 04:21 PM
Since I see so many other folks filling their blogs with political thoughts, I just thought I'd add one comment of my own.
Tonight on TV, there was an unprecedented 30 minute 'ad' for a canadate that reportedly cost upwards of $4 million- just to buy the ad time on the networks.......not including what it cost to produce...and add a live feed at the end from a speech.
My question is...if any canadate says they want to help the "middle class" (and I am SO SICK of hearing those words!).....whay aren't they ponying up and donating that $4mil to a just … (6 comments)

mls listings: What's going on with Mortgage Rates this month?? - 10/29/08 03:58 AM
The activity in MBS (Mortgage Backed Securities) markets - and other financial markets - has been very unusual this month. The Fannie Mae Required Net Yield has already made two round trips from about 5.70% to 6.60% over the past few weeks, displaying a level of volatility rarely seen. Under normal market conditions, the vast majority of the significant rate movements are the result of fresh economic news. This month, however, it has been common to see large rate movements unconnected to any news announcements, for reasons I'll discuss below.One reason is that the credit crisis has forced many investment funds and … (3 comments)

mls listings: This week's economic signposts - 10/27/08 02:11 AM
Shall we take a quick look at the economic news that will drive mortgage rates this week? (I'd rather focus on that than the cold weather we're about to have!)
The biggest bond rate event this week will be Wednesday's Fed meeting. Investors have priced in a half-point rate cut, and they are waiting to see if the Fed will take any other actions to boost the economy. The most important economic data will be Thursday's Gross Domestic Product (GDP) report. GDP is the broadest measure of economic activity. In addition, New Home Sales will come out at 9 am this morning. Durable Orders, … (0 comments)

mls listings: Ready for Winter yet? - 10/26/08 04:02 PM
As I'm sitting in front of my fireplace planning out another week....and hearing the weather report telling me to expect a 35-degree low for tomorrow morning, I'm starting to think about getting ready for winter. Not just the "last lawnmowing, cover the plants, get out the Christmas Lights" planning, but the "get the holiday excuses for less business ready" planning.
Don't get into the trap that 90% of our brethern get into......of using an easy excuse of "holiday blues" to not make the phone calls, or follow-up meetings, or just plain getting lazy. Have you started your business plan for 2009 … (4 comments)

mls listings: How your Loan Officer makes customers MORE satisfied - 10/25/08 08:19 AM
In the current economic situation, improving the relationship between loan officers and mortgage customers is critical to customer satisfaction, according to the J.D. Power and Associates 2008 Primary Mortgage Origination Satisfaction Study(SM) released this week.
The study measures customer satisfaction in four key factors of the mortgage origination experience: application/approval process; loan officer/representative or mortgage broker; closing process; and problem resolution.
The study finds that customers have higher levels of satisfaction and are more committed to their lender when the loan officer takes the uncertainty out of the mortgage origination experience by setting expectations, proactively communicating and maintaining personal contact with … (0 comments)

mls listings: What are you seeing with clusters of "For Sale" signs? - 10/25/08 06:34 AM
Good Sunny afternoon in Minnesota!
While driving around the North St. Paul/Maplewood area, I was struck by how many 'clusters' of homes with For Sale signs were out there. Is that a new phenomenon in the past year or two? Is there so much 'pent-up demand' to sell that as soon as a neighbor puts a sign out then everyone else calls a realtor?
What are you Realtors seeing out there for 'customer cluster behavior'?

mls listings: Where We Are in the Current Real Estate Cycle- and What It Means - 10/24/08 02:22 AM
Real estate has been in the news just about every day as housing prices have "fallen". There are all kinds of opinions about what's going on and where this is all heading. But these opinions are just guesses and do not take every piece of the puzzle into consideration. History has shown us that the economy goes up and down all the time, and real estate has long coincided with these fluctuations. Economic cycles of all kinds (stock, macroeconomic trends, housing, etc.) are known for a tendency towards extremes and that market corrections have a way of over-reacting which is exactly … (0 comments)

mls listings: FHA review - what you need to know - 10/23/08 05:27 AM
With the Federal governments re-emphasis on the FHA as a key vehicle for resuscitating the real estate market, now is a good time to review FHA in more detail.
Let's start with some basics. First, the FHA insures loans that approved lenders make, it does not purchase them as Fannie and Freddie do. If a FHA insured home goes into bankruptcy, FHA pays off the mortgage to the Lender, takes ownership of the home, and then proceeds to sell it (a HUD home.)
To mitigate its risk and provide income to offset foreclosures and defray their expenses, FHA charges the borrower … (0 comments)

mls listings: Homeowners Have Options for Handling Mortgage Arrears - 10/22/08 04:00 PM
The following is part of an article which was featured in Newsday, and written by Patricia Kitchen. The subjest matter is worth repeating here....and of course, if you have any questions, or know someonw who might need guidance along these lines, PLEASE call or e-mail me!
While the government's $700-billion bailout of financial firms does not include retroactive mortgage loan relief to help stave off foreclosures, there are actions homeowners can take to handle mortgage arrears and the legal action that can follow.
The most important step consumers can take is to talk with their mortgage servicers early in the process … (0 comments)

mls listings: Home Market Data for Maplewood, MN.- September 2008 - 10/20/08 04:59 PM
The following data on tear-over-year home sales for Maplewood, MN. is courtesy of the Minneapolis Area Association of Realtors. I hope it can help you as you gather data about home listing or selling!
Ramsey County, MN                 2007             2008           Change               2007            2008             Change
New Listings                                    80                  59          - 26.3%                806               667             - 17.2%
Closed Sales                                    29                  43         + 48.3%                303              254              - 16.2%
Average Sales Price        $218,173     $193,267          - 11.4%      $228,439    $205,886               - 9.9%
Percent of Original List Price Received at Sale*
                                                    93.6%          92.7%           - 0.9%            94.7%        92.6%               - 2.2% Average Days on Market Until Sale**
                                                          123               147        + 19.6%                 135              … (0 comments)

mls listings: Home Market Data for Mahtomedi, MN- September 2008 - 10/20/08 04:32 PM
This information on year-over-year home sale information for Mahtomedi, MN. is courtesy of the Minneapolis Board of Realtors "Hot 100" list. I hope it can help you as you look at home listings!
Washington County, MN        2007           2008           Change           2007           2008           Change
New Listings                                  18                13          - 27.8%             162             158            - 2.5%
Closed Sales                                    7                 11         + 57.1%               75               52          -30.7%
Average Sales Price       $327,080   $329,545          + 0.8%    $314,240   $338,424         + 7.7%
Percent of Original List Price Received at Sale*
                                                 94.8%         96.6%          + 2.0%         95.0%        92.9%          - 2.3% Average Days on Market Until Sale**
                                                        88              224       + 155.3%              … (0 comments)

Loren Johnson, CMPS

Loren Johnson


White Bear Lake, MN

More about me…

Address: 190 Hickory St., Mahtomedi, MN, 55115

Office: (651) 226-4363

Mobile: (651) 226-4363

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Thoughts about Mortgages, the Real Estate market, how customers should be treated, and mabye sports!



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