God Save the Queen

You can almost hear Dave Edmonds “I knew the Bride When She Used to Rock and Roll” as the United Kingdom’s latest happy couple cut the cake and electric slide off into wedded bliss. The rice has been swept up, the DJ as played “Last Dance” and an adequately attractive bridesmaid snared the bouquet with an over the shoulder grab that would make Willy Mays proud. Let us say they were any other couple and not wards of the state with a ticket already punched for Buckingham Place. If Kate and William walked into your office looking to move out of Mom’s basement and into a home of their own what you tell them? First contact a mortgage professional (me!) and get prequalified (not the same as preapproved). Find out how big your home buying budget is. Remember, in most cases it is not the price of the house it is how much a month. Have me explain the different programs available FHA 3 ½% down payments, 203K for homes that need some love, ARMs, stated Income for self employed buyers. Check their credit! Now is the time to fix errors and clean up their credit report so they can get the loan they need and the right rate. Now Kate and Will are empowered buyers in the strongest possible negotiating position. Making you, the realtor’s life, a dream! On the financial front, US equity and bond markets are enjoying economic nirvana. Stock and bond markets rallying in tandem the US ten year yielding a paltry 3.29% as continued troublesome news from European countries sovereign debt markets and the extent of Japan’s rebuilding make dollar denominated assets the best choice.