napacounty: Values on the rise but wages are not.
- 08/28/14 01:25 AM
As I was watching CNBC this morning, Charles Biderman was discussing how stock prices have gone up dramatically while wage growth has only gone up 3% a year. That got me to thinking that if real estate prices are rising 15-20% in some areas, an wages are only rising 3%, we are going to have an issue with affordability. In some of the larger urban areas, like San Francisco and San Jose, CA., salary and net worth are substantially higher. I suspect they will be able to maintain the apprecation of values. However, in some of the smaller rural areas, this is going to be … (0 comments)
napacounty: Social Media. Is the Hype Worth It?
- 08/21/14 02:53 AM
I do wonder if the Hype about Social Media is way overblown? I post to all the usual outlets but question whether it is a waste of time or if someday I might actually get somebody who says to me "found you on Google + or Facebook!" I am easily found if somebody types in certain key words but I think i have only had one borrower ever say to me "found you on the internet". All other referrals are usually from a realtor. I have been spending a bit more time reading about social media so perhaps I will be … (1 comments)
napacounty: Rates are great unless your credit score is 640
- 08/15/14 07:48 AM
A reminder to everyone that not every borrower gets the same rates. On a conventional loan, if you have a credit score of 640 there is a cost for this. The LLPA depends on the loan to value. I am doing a loan now and this borrower who is doing a cash out refinance loan is going to pay an extra .25 to the rate because of the credit score. Sometimes you can pay down debt and do a "rapid-rescore" to increase the credit score and get a better rate. Next time your borrower is faced with this issue ask the … (2 comments)
As I was watching CNBC this morning, Charles Biderman was discussing how stock prices have gone up dramatically while wage growth has only gone up 3% a year. That got me to thinking that if real estate prices are rising 15-20% in some areas, an wages are only rising 3%, we are going to have an issue with affordability. 
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