Traditional Seller Prices Rise, Foreclosure Prices Plummet
Posted on July 6th, 2011
You have Zillow, Trulia, Case/Shiller, the National Association of REALTORS and the Minneapolis Area Association of REALTORS and many others all release housing statistics that are then mentioned by local media.
The beauty of today is that we have more information than we have ever had before the problem with today is that a lot of that information is useless or misleading when talking about an individual house, a block or a neighborhood. See, housing isnt just a local thing it is a hyper-local thing. I have seen some neighborhoods that have dropped only 10%-20% from the peak pricing and have seen others that have dropped 50% and more the dynamics involved go beyond what any equation can ever explain.
So now that Ive just told you that metro-wide statistics are poor correlators of micro markets, Im going to back up and tell you that you should pay attention to one of them.. th
Twin Cities Sellers Taking a Vacation
Posted on July 6th, 2011
So each January we see home seller activity increase, bringing more new listings on the market than can be absorbed by buyers at this time of year. Well this year things seem to be starting different new listing activity is down almost 20% since the first of the year!
This leads us to the following chart of Twin Cities homes for sale:
The 10% surplus of homes for sale versus the same period last year has now become a 1% deficit in just the last 45 days! Inventory as of February 14th, 2011 was only 1.6% higher than it was at the first of the year a paltry 350 listings. The first 45 days of 2011 have brought the slowest increase in homes for sale that weve seen in this time period since MAARs weekly record keeping began in 2005. I
HNB Mortgage Review
Posted on July 5th, 2011
HNB Mortgage is a mortgage banker with 5 branches in Texas. The branches are located in Midland, Marble Falls, Horseshoe Bay, Big Spring, and Odessa.
According to Department of Housing and Urban Development data, LRS Financial Network, Inc (the name they are licensed under) originated $172.8 million in mortgage loans in 2009.
According to NMLS licensing data HNB Mortgage is licensed as LRS Financial Network, Inc and can lend in New Mexico, Oklahoma, and Texas.
The HNB Mortgage website is fairly standard. Although it has tons of stuff on it, it still loads fast. They have different ways of starting the process. You can fill out a prequal sheet online or print and fax, a refinance worksheet, or the full application which allows you to enter in a credit card to pay for the credit report and appraisal when it gets ordered.
Tags: Hnb Mortgage, Mortgage
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NFSWednesday: Psssssssssss
Posted on July 5th, 2011
Sorry, but today is Wednesday and this is Not For Sale but it is for rent! Its the Magic Mountain Lodge in Chile, and Im sure youll get a good nights sleep there with gallons of water rushing past your window every night. Water flowing gushing so much water overflowing Ill be right back.
Three C’s to protect yourself in an up rate market
Posted on July 5th, 2011
In periods such as this when mortgage rates are rising how can you ensure that you will get the mortgage rate you locked in? Depending on when you applied for your mortgage the rates today could be as much as a half or three-quarters percent higher than when you locked or used mortgage calculators to determine when to make your application. Here are three C’s to follow to close your refinance mortgage or new home loan before your rate lock expires.
Current
Make sure your mortgage application file has current evidence needed to verify your income and assets. During your mortgage process when you get a paycheck send a copy to your mortgage professional. Most underwriters will require paystubs within 30 days of closing, or your most recent one.
Tags: Protect Rate, Rate
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