Interest Rates on the Rise a

July 30th, 2014
Interest rates
Good Afternoon-
We are seeing some erosion in mortgage pricing today causing rates to drift higher. This is primarily due to the release of some economic data that was released this morning that indicates the economy is doing better than projected. We also have political uncertainty in Ukraine and Israel which makes markets move somewhat erratically. Rates are drifting higher and are likely to move up about an .125% if the mortgage bond market continues to lose ground. Unemployment data is due to be released Friday at 8:30am which is always a major economic event so rates may move again Friday. I encourage you to have your clients seriously consider locking a rate if they are under contract. I have provided current rates below. Let me know if questions.
Thanks
Richard
Jumbo
30 year fixed – 4.125% no points/no origination
10/1 ARM – 3.500% – no points/no origination
7/1 ARM – 3.125% – no points/no origination
5/1 ARM – 3.000% – no points/no origination
Conforming
 
30 year fixed – 4.250% no points/no origination
10/1 ARM – 3.875% no points/no origination
7/1 ARM – 3.500% no points/no origination
5/1 ARM – 3.375% no points/no origination
Richard Young
Private Mortgage Banker
NMLSR ID 659088
Wells Fargo Home Mortgage  |  3280 Peachtree Rd Ne  |  Atlanta, GA  30305
MAC G0141-032
Tel (404) 504-2852  |  Cell (404) 245-2556  |  Fax (866) 633-3523

July 9th, 2014

Atlanta

The Top 10 Cities People Are Moving To, According To CNN Money (PHOTOS)

If you’re ready for a change of scenery in 2014, you’re not alone — millions of Americans change their residences each year in order to follow a job, experience a new lifestyle pace or sometimes just to forget that a season known as “winter” even exists.

But whatever the driving force might be, a city move has never been more popular — but it depends on where you go. According to CNNMoney, which released Penske Truck Rental’s annual list (see below for more) of top cities to move to in the country, certain metros are experiencing huge growth when compared to years prior. Well,except for Atlanta, which has snagged the No. 1 ranking for four consecutive years.

And while it might cost you more than it would have in years past to settle down in some of these areas, it’s quite difficult to argue with the perks of fantastic weather, reasonable costs of living and thriving economies most of the list has to offer.

  • 10
    Las Vegas, Nevada
    Getty
    Home Price Growth Forecast: 5.4 percent

    For the first time since the foreclosure crisis, “Sin City” is making its comeback and as tourism begins to regain traction, hospitality workers are making their way back in.

  • 9
    Denver, Colorado
    Getty
    Home Price Growth Forecast: 2.7 percent

    Consistently ranked as one of the healthiest and most active spots in the country, outdoorsy folks are flooding the “Mile High City” for the obvious nature-centered lifestyle that currently coincides with a strong economy.

  • 8
    Chicago, Illinois
    Getty
    Home Price Growth Forecast: 2.7 percent

    Hiring may be slower than desirable in the “Windy City,” but that cannot distract from the fact that it offers the cultural perks of New York City for a much cheaper cost of living.

  • 7
    Seattle, Washington
    Getty
    Home Price Growth Forecast: 5.2 percent

    Only in Seattle can you find the perfect combination of job opportunity, a well-known music and arts scenes and quality coffee. And as an added bonus, you get Super Bowl bragging rights until next February…

  • 6
    Houston, Texas
    Getty
    Home Price Growth Forecast: 3.9 percent

    In this southern city, new residents aren’t just greeted by relatively low unemployment levels of 5.6 percent — they’re greeted with the promise of another oil and gas economy boom thanks to the upcoming plans for a new ExxonMobil facility that will employ 10,000 workers.

  • 5
    Phoenix, Arizona
    Getty
    Home Price Growth Forecast: 4.3 percent

    Similar to what has happened in Tampa and Las Vegas, where a flood of real estate investors have taken to giving foreclosures and cheap housing new life, Phoenix is quickly becoming quite the popular warm-weather destination.

  • 4
    Orlando, Florida
    Getty
    Home Price Growth Forecast: 2.9 percent

    Warm weather, cheaper than Miami and, of course, home to Walt Disney World, Universal Studios and Sea World? It doesn’t get better — Well, except when the economy is strong and people start vacationing again, offering an increase in available tourism jobs, all of which is happening right now.

  • 3
    Dallas / Fort Worth, Texas
    Getty
    Home Price Growth Forecast: 4 percent

    Now the ninth largest city in the country, people are rushing in to this tech-friendly hotspot to get a piece of the action in what is being referred to as the “Silicon Prairie.”

  • 2
    Tampa / Sarasota, Florida
    Getty
    Home Price Growth Forecast: 6.5 percent

    While it will certainly cost you more than ever before, it’s difficult to argue with the beautiful beaches, baseball fandom and job opportunities the city has to offer.

  • 1
    Atlanta, Georgia
    Getty
    Home Price Growth Forecast: 5.3 percent

    Between a relatively low cost of living (less than half of what Manhattan’s is) and dozens of Fortune 500 companies to offer jobs in the area, it’s no wonder Atlanta has made this list four years running.

Source: Penske Truck Rental; National Association of Home Builders and Wells Fargo Bank provided data on median home prices and incomes. Home price forecasts from CoreLogic Case-Shiller. Penske compiled the list by tallying the number of consumer truck rental reservations for one-way moves that were made online and through its call centers last year.

Read the Full Article on This Link http://www.huffingtonpost.com/2014/02/10/top-cities-people-moving-to_n_4762327.html

Can You Put a Price on Real Estate Experience? Yes- $25,000

May 15th, 2014

images

 

CAN YOU PUT A PRICE ON REAL ESTATE EXPERIENCE?      Yes- $25,000.

Veteran real estate agents vastly outsell their rookie counterparts, according to one study.

 

Can you put a price on experience? In real estate, you can. It is about %25,000 for the average house.

Veteran agents sell homes for an average of 12% more than their less experienced counterparts, says Bennie Waller, professor of finance and real estate at Longwood University in Farmville, VA. Veteran agents also tend to list more new properties, more townhouses and condominiums and larger properties.

“The more experience you have, the more likely you are to sell the properties that you list, the more likely you are to sell it at a higher price and the less time it stays on the market” Prof. Waller says. Prof. Waller, along with Ali Jubran, a student at Longwood University at the time, examined 10,065 real estate listings in mid-Atlantic multiple-listing service from March 1999 to July 2009. They divided the listings in to three groups-ones listed by agents who have been licensed for two years or less (called rookies), agents who have been licensed for 2-10 years and agents who have been licensed for over 10 years (called veterans). They controlled for property characteristics such as size and location to isolate the “experience variable,” and then compared the results for rookies and veterans. The study was published in the Journal of Housing Research in May 2012.

Prof. Waller became interested in quantifying experience when he noticed an increasing number of agents who chose not to renew their licenses after two years. Real estate has “very,very, very low barriers to entry,” he says. But brokers then face a steep learning curve and many struggle to reach a level of expertise that is profitable, he adds.

Two-thirds of properties listed by veteran agents sold, while only half of the properties listed by rookies did. That may be because rookie agents have to be more flexible in picking up listings, even if the chances of selling are low.

“If the house is priced ridiculously, they might say, ‘Fine, I’ll take the listing’ ” Prof. Waller says.

Generally, experienced agents have greater knowledge of the neighborhood and a larger network of buyers and sellers, as well as relationships with home inspectors, appraisers and mortgage brokers.

And then there are the lessons learned. Michael Rankin, principal and managing partner of TTR Sotheby’s International Realty in Washington D.C. began selling real estate right out of college, so he faced the twin pitfalls of inexperience and youth.

“I would meet people and say I’m a real estate agent. They would joke and say, ‘I’ve got children older then you. Are you sure you’re a real estate agent?’ ” he says.

Mr. Rankin says he didn’t get referrals until his third year in the business. Referrals now make up about 70% of his sales. His listings stock has also changed dramatically. In his 20’s his average sales price was about $300,000 to $400,000. Now it is more then $2 million.

Experience taught him how to deal with consumer behavior. “Residential real estate is really an emotional transaction. I don’t think I was prepared for any of it. It’s about understanding and knowing people. That, to me, is what an experienced broker brings to the table,”he says.

When Pamela J. Hagan first began practicing real estate about 30 years ago, she had a listing that just would not sell. After zero offers in eight months, she asked a more experienced agent to help. “We tweaked the price and staged it properly, removed clutter and everything. I just didn’t think of everything when I was new,” says Ms Hagan, of Century 21 Beggins Enterprises in Longboat Key, Fl. “After we got it all set up and dropped the price, we sold it in 30 days.”

 

 

 

 

 

 

 

 

by Sanette Tanaka

September 12,2013

 

May 13th, 2014

9 things that can alter the value of your home

1. Updated Kitchen: this room has become critical in the home. People love to have counter space and an easy set up to move around.

-Whats important in a kitchen?

  • Solid surface counters
  • Quality Flooring (wood, laminate, tile, or stone)

Cabinetry and counters in good condition and will not need replacing soon.

 

2. Modern Bathrooms:

  • Spacious master baths
  • Double Vanities (preferably the higher ones 36″)
  • Separate Shower/ Bath
  • Whirlpool/Spa Bath

3. Master Suite:

  • Walk-in closets (Preferably his/ hers)
  • Roomy master bedroom and bath

4. Natural Needs: With this human race on a natural kick, it shows in the residential market as well.

  • Ceramic tiles, hardwood floors, and granite

5. Curb Appeal: First appearance of a home is crucial.  If a buyer sees something he does not like before even entering they can quickly form a negative opinion.

  • Well kept lawn and landscaping- put down pine straw/mulch where needed
  • Power wash
  • Clean entry way and windows

6. Landscaping: Already having professional landscaping in place is worth money.

7. Basement: Basements are good for storage- if they are dry that is. A finished basements gets your big time points today

8. Light: Having a well lit,bright house helps.  Living in dark spaces tend to make people depressed and unhappy.  Open the windows and blinds for showing.  The new lights have to be turned on for a couple minutes before becoming their true brightness- turn all lights on 10 minutes before open houses or caravans.

9. Storage: Nothing beats an over sized garage, attic space, or a basement to keep those extra things we have.

 

 

 

Mortgage Update

April 20th, 2014
mortgage
Good Morning-
Rates remain basically unchanged for this week. Both the bond and stock market are closed today so these rates will not change for the weekend. Unlike most lenders, we can lock in interest rates over the weekend based on the last published rate. I also want to highlight our builder best program which is tailored for new construction and renovation:
  • Lock in at current 60 day market rate on any ARM and the rate is guaranteed for 180 days (270 and 360 days also available at slightly higher rate) while your client’s home is completed or renovated
  • If rates fall during construction then free FLOAT DOWN to market rate at time of closing
  • If client would prefer a FIXED rate versus ARM then FIXED is available at time of closing
  • Client pays a commitment fee at application which is totally refunded at closing – the program is free
This program is unique and unmatched in the industry. I’m available anytime to discuss with you or your clients. I have also included current rates below.
Have a great weekend.
Richard
Conforming ($417,000 or less)
 
-30 year Fixed – 4.375% with no points/origination
-30 year Fixed – 4.250% with .875% origination fee
10/1 ARM – 3.875% with no points/origination
10/1 ARM – 3.750% with .50% origination
7/1 ARM – 3.500% with no points/no origination
7/1 ARM – 3.250% with .875% origination
Jumbo (over $417,000)
 
30 year Fixed – 4.125% with no points/origination
30 year Fixed – 3.875% with 1% origination
10/1 ARM – 3.625% with no points/origination
10/1 ARM – 3.375% with .75% origination
7/1 ARM – 3.25% with no points/origination
7/1 ARM – 3.00% with .75% origination
Richard Young
Private Mortgage Banker
NMLSR ID 659088
Wells Fargo Home Mortgage  |  3280 Peachtree Rd NE  |  Atlanta, GA  30305
MAC G0141-032
Tel (404) 504-2852  |  Cell 404-245-2556  |  Fax 866-633-3523
If this email was sent to you as an unsecured message, it is not intended for confidential or sensitive information.  If you cannot respond to this e-mail securely, please do not include your social security number, account number, or any other personal or financial information in the content of the email. This may be a promotional email. To discontinue receiving promotional emails from Wells Fargo Bank N.A., including Wells Fargo Home Mortgage, click hereNoEmailRequest@wellsfargo.comWells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. All rights reserved. Equal Housing Lender. Wells Fargo Home Mortgage-2701 Wells Fargo Way-Minneapolis, MN 55467-8000

April 15th, 2014

What $200,000 Will Buy In The Atlanta Real Estate Market

 

The median list price in Atlanta is now $184,900, up 12.1% from the previous year, according to the National Housing Trend Report for February 2014, published by Realtor.com. This puts Atlanta slightly under the national median list price of $199,000. Where Atlanta shines, however, is in inventory: It sits near the top of the report’s 146 regions in terms of total number of listings. Real estate currently listed for sale onRealtor.com  ranges in price from less than $10,000 for distressed properties to $15.9 million for a palatial estate in upscale Buckhead, the “Beverly Hills of the South.” Here’s a look at what you can buy for $200,000.

Market Overview

Home prices in Atlanta peaked in mid-2007, then fell for the next several years, hitting bottom in early 2012. Since then, prices have been slowly recovering. The most recent Beige Book, the comprehensive economic report published eight times per year by the Federal Reserve, indicates several favorable factors in the Atlanta real-estate market: increased home sales, higher demand for residential mortgages, a rise in new home construction, strong multi-family construction and a decline in mortgage refinancing.

What $200,000 Will Buy

With prices still below the 2007 highs, buyers can find a good deal in many neighborhoods in the city and surrounding suburbs. “The metro Atlanta area is widespread and diverse, and what $200,000 can get you varies,” says Maura Neill of Maura Neill & Associates, RE/MAX Around Atlanta. “As of Monday, March 24, 2014, a search of $200,000 homes in the MLS gives us 95 detached [single-family) results and seven attached (condo, townhome, multi-family) results.”

“In single-family homes, expect properties to be about 1,500 to 2,000 square feet,” Neill says. Paying $200,000 gives buyers a wide variety of choices, she reports. “A peek at some of these listings found a renovated three-bedroom, two-bath, 1940s cottage (1,900 square feet) in East Lake and a three-bedroom, two-bath, 1960s brick ranch with basement (1,800 square feet) in East Cobb (Marietta) needing a little updating. The same price would also buy a three-bedroom, two-bath, brick 1990s ranch (1,600 square feet.) in a lake neighborhood in Duluth or a larger three-bedroom, two-bathroom Charleston-style two-story with double front porches (1,800 square feet) in Grant Park/Peoplestown.” Many of the properties at this price point will feature hardwood floors, walk-in closets, fenced-in backyards and fireplaces. Some offer garages or carports and kitchen updates, such as stainless-steel appliances and granite countertops. In addition, many houses are in walking distance to both public transportation and area schools.

Buyers interested in attached houses will find that “1,100 to 1,400 square feet and two or three bedrooms is the norm,” says Neill, citing a two-bedroom, 2.5-bath townhouse (1,300 square feet.) for sale on Atlanta’s Westside. Often included: hardwood flooring; kitchen updates, including granite countertops and glass-tile backsplashes; walk-in closets; assigned parking spots and community amenities, such as swimming pools, laundry facilities and green space.

“The Atlanta market is still remarkably affordable,” says Neill, who points out that just over 20,000 houses are for sale in the metro Atlanta area (not including for-sale-by-ownerlistings). Though the 104 homes offered at exactly $200,000 are just half of 1% of the inventory, “there are myriad choices for buyers in surrounding price points, and truly something for everyone in Atlanta’s diverse market,” she adds.

Getting the Most House for Your Money

After the 2008 financial crisis, the Atlanta market – along with countless others nationwide – was flooded with foreclosures. “Foreclosures and short sales used to be the answer to getting the most house for your money in the metro Atlanta area,” says Neill. Foreclosure filings for Atlanta, however, dropped significantly over the past year, with a 33.3% decrease in auctions and 26.4% fewer bank-owned properties, according toRealtyTrac.com, an online real-estate information company and marketplace for foreclosed properties in the United States. Currently, Metro Atlanta ranks close to the national average, with one in every 1,162 homes in foreclosure (compared to about one in 1,170 homes nationwide).

Here’s how to get the most house for your money today: “Buy into an area where you feel at home and don’t be afraid of a little cosmetic updating – not just doing painting and lighting, but also replacing flooring and fixtures (like faucets, door knobs, etc.), removing wallpaper, and budgeting for new appliances.” Of course, it’s important to budget for any anticipated expenses, taking into consideration what can wait (the doorknobs, for instance) and what the buyer would like to get done right away (for example, replacing the shag carpet and pulling down the outdated wallpaper). Buying at the top of one’s price range makes it difficult to tackle updating projects, so it’s always a good idea to make sure there’s room in the budget for the updates the buyer considers essential.

Buyers who can visualize a home’s potential and are willing to put in some work can end up with more house for their money, even after the updates are paid for. “Truly savvy buyers – or buyers with a realtor they can trust – can see past cosmetic flaws and dated fixtures to the “bones” of the house – the floor plan, the room sizes, the potential. That will get you the most house for the money,” says Neill.

Buy or Rent?

Across the nation, the gap between the cost of renting and buying has narrowed, partly due to rising interest rates and home prices. Trulia’s Rent vs. Buy Report, released by online real estate aggregator Trulia.com, showed that a year ago it was 44% cheaper to buy a house than rent one; today the figure has dropped to 38%. The report compares costs for a seven-year period, using five calculations:

  1. The average rent and for-sale price for an identical set of properties;
  2. The initial total monthly costs of owning (assuming 20% down and a 30-year fixed-rate mortgage at 3.5% interest, as well as annual maintenance, insurance, utilities and property-tax expenses) and renting (monthly rent plus renter’s insurance);
  3. The future total monthly costs of owning and renting;
  4. One-time costs and proceeds (for owning, this includes closing costs and capital gains tax of 15% for gains above the $500,000 annual exclusion; for renting, this includes one month’s security deposit); and
  5. The net present value (NPV) to account for opportunity cost of money (this compares cash flows over time).

The decision to buy or rent depends on a number of factors, including how long you plan to live in the house, and your mortgage rate and tax bracket. For example, if you secure a 4%, 30-year fixed-rate loan; are in the 15% tax bracket and plan on living in a home for seven years, it might be 28% cheaper to buy than rent in Atlanta, according to Rent or Buy calculator on Trulia.com. If you plan on staying in place for only two years, however, it would be 20% cheaper to rent than buy, all other factors remaining the same.

The Bottom Line

Atlanta homebuyers can find adequate inventory at the $200,000 price point and significantly more properties if they expand their search slightly above and below that figure. Homes in this price range tend to be well-maintained and updated properties in the 1,500 to 2,000 square foot range for single-family detached homes and the 1,100 to 1,400 square foot range for attached homes, including condos and townhouses. Buyers willing to look beyond a home’s cosmetic flaws can end up getting the most house for their money.

 

By Jean Folger on April 15, 2014

 

Worst & Best Places To Hide a Key

March 26th, 2014

Worst places to hide a spare key 

1) Under your welcome mat
You might as well be welcoming a burglar into your home because this is the first place they’ll look. Plus it is obvious when you bend over to put it under the mat.

2) Under a flower pot near the front door
This hiding spot is convenient for you— and for a burglar.

3) Inside a poorly placed fake rock
That fake rock isn’t fooling anyone if it’s just sitting in a garden and there are no other rocks around.

Best places to hide a spare house key

1) With a neighbor you trust
We believe that your neighbors are your best allies against burglars. So give a trusted neighbor your spare key.  If anyone finds the key, they’ll just assume it’s the neighbor’s, not yours. Just make sure there’s no information on the key that would identify it with you.

This is the most secure place to hide a key, but also the least convenient (unless they neighbor hides they key somewhere safe outside where you can find it).

2) In a magnetized lock box under your car 
Most burglaries occur from 10 a.m to 3 p.m—when you’re not home.

So it makes sense to hide your key in a car magnet key case under your car. Because when you’re not home, neither is your car—or the spare key.

3) Under the dog house
You know what burglars fear-Dogs. They don’t want to go near them. So that means they’re not going to go near the dog house either. Hide the key under the dog house to keep it safe.

4) Fake sprinkler key holder
Move over fake rock, here comes the fake sprinkler key holder. This fake sprinkler head is indistinguishable from a real one and blends in nicely.  Obviously, this is only for homeowners who have sprinkler systems.

Or of course you can bypass the keys altogether and get one of these fingerprint door handles 

 

 

3 Ways you losing heat in you home

February 6th, 2014

 

Blog / 3 Bone-Chilling Reasons Your Home Loses Heat Every Day

Wow, it has been in the 20’s and 30’s at night lately and all of us in Atlanta are running our furnace or heat pump constantly to keep warm and cozy.

However, your home may be losing tons of that heat you’re paying for. So your furnace has to work longer to keep your home warm.

That means higher heating bills for your family.

That’s no good, right? Here are 3 common reasons your home is losing heat every day, and what you can do about it.

1) Heat escapes through your windows’ glass

Your heated air loses its heat when it comes into contact with the glass in your windows. This is known as convective heat transfer.

What you can do about it

Learn how to use your drapes to reduce heat loss:

  • At night, close all your drapes; during the day, close drapes that don’t receive sunlight. This reduces heat loss from a warm room up to 10%, according to energy.gov.
  • Make sure your closed drapes hug close to the windows and fall all the way to the ground. Attaching Velcro or magnetic tape to the drape’s bottom and sides can help form a tight seal. This can reduce heat loss in a room up to 25% according to energy.gov.

2) Your attic does not have enough insulation

If you have an older home, you may have one of the 46 million under-insulated homes in the U.S., according to the North American Insulation Manufacturers Association (NAIMA).

This means your home may be losing more heat in the winter through the attic than it should, increasing your heating bills and leaving you chilly.

What you can do about it

Follow these steps:

  1. Check to see if your attic has enough insulation. (If your insulation is even with or below your attic’s floor joists, you need more.)
  2. If your attic is lacking, find out how much insulation you need to add. (The depth of the insulation should be at least 10-14 inches, or R-38.)
  3. Get an estimate for how much it will cost to add more insulation.
  4. Calculate how long it will take for the insulation to pay for itself to see if the project is worth doing.

Read our article, How to Know if Your Atlanta Home’s Attic has Enough Insulation to learn more.

3) Heat escapes through gaps around doors and windows

“Shut the door; you’re letting all the cold air in!” is something you may have shouted at someone.

But guess what? That cold air may be coming in even if the door is shut!

Yep, air can seep through small gaps around the edges of your doors and windows.

What you can do about it

Add weather stripping to your doors and windows to prevent cold air from getting in and hot air from getting out. Doing so will save you up to 30% on your heating and cooling bills, according to Consumerreports.org.

That’s about $152 to $306 off your annual energy costs!

Check out this article on energy.gov on the different types of weather stripping you need to seal different areas of your home.

11 Reasons to list your home during this RED HOT WINTER MARKET!!

December 10th, 2013

 

Holiday-Proof-Your-Real-Estate-Business

11. By selling now, you may have an opportunity to be a non-contingent buyer during the Spring when there are traditionally more houses on the market which could ultimately drive prices down. This could mean you sell high and buy low.

 

10. You can sell now for more money and we will provide for a delayed closing or extended occupancy until early next year.

9. Even though your house will be on the market, you still have the option to restrict showings during the six or seven days around the Holidays.

8. January is traditionally the month for employees to begin new jobs. Since transfers cannot wait until Spring to buy, you need to be on the market during the Holidays to capture the market.

7. Some people must buy before the end of the year for tax reasons.

6. Buyers have more time to look for a home during the Holidays than they do during a work week.

5. Buyers are more emotional during the Holidays, so they are more likely to pay your price.

4. Houses show better when decorated for the Holidays.

3. When supply goes down it means there is a greater opportunity to capture motivated buyers AND a better sales price for you.

2. Serious buyers have fewer houses to choose from during the Holidays and less competition means more money for you.

And the number one reason why your seller should list during the Holidays …

1. People who look for homes during the Holidays are more serious buyers!

Mortgage Rates in Late October

October 27th, 2013

 

Mortgage rates coming back down, housing prices are rising again and the overall economy is beginning to show signs of recovery…all good news right? For the most part, all of these things are good news, but with all good does come some risk. With the recent pick-up in housing sales and the decline in mortgage rates, “discount” mortgage lenders, real estate brokers and the “For Sale By Owners” are once again on the rise. But, buyer beware, not all service providers are equal.  And choosing the wrong provider could cost you dearly.

The Mortgage Process…Whether it is your first home or your tenth, the mortgage process is ever-changing with new options that need to be carefully explored.  You will have questions.  And, if you go to a “discount” provider you will most likely experience the age-old adage “you get what you pay for.”  For your agent to protect your interest on the transaction, they will need to receive timely and accurate communications on your financing, from title to appraisals and beyond.  Agents know who they can trust and work with those lenders who consistently deliver for them. Missing a critical date within the contract can cost you your earnest money and the home of your dreams.

The Purchase or Sale Of Your Home…While many “shudder” at the thought of paying 5% to 7% in real estate commissions, the agents representing you earn every penny. As veterans in this industry, we have seen almost everything, and what we can tell you is that agents earn their commissions. The “For Sale By Owners” are our favorites. Most of these people have no idea to request a “pre-qualification” letter much less know how to read one and understand what is a firm letter and one that is not worth the paper it’s written on. They also have no idea what to do with things like easements, problematic home inspection reports or low appraisals. We could go on for days on this topic, but one thing we can certainly attest to is that a good agent is critical to a successful purchase or sale of a home. Their continued success is solely dependent on your closing experience which includes every vendor (including the m ortgage banker) they recommend.  The moral of the story is choose your real estate providers carefully to ensure you have the best experience on one of life’s largest transactions.

Have a wonderful remainder of your week and remember all rate quotes do not require an origination fee!

Base Market Rates and Conditions
30 Year Fixed Conforming 4.125% 0.50 Points
FHA 30 Year Fixed 3.750% 0.25 Points
FNMA 15 Year Fixed 3.250% 0.50 Points
5 Year Jumbo Arm 3.750% 0.50 Points
15 Year Jumbo 4.000% 0.50 Points
7 Year FNMA Arm 3.500% 0.00 Points
5 Year FNMA Arm 3.250% 0.00 Points
Sincerely,
Richard Staley & Jim Lewis CBC National Bank NMLS#s 185131 & 303559 Richard: (770) 351-7553 Jim: (678) 231-0602 jimandrichard@cbcnationalbank.com www.jimandrichard.com