2011 was a difficult year in the mortgage business. We are all still standing, and you can still get mortgages, but it is not fun. I would like to make some 2012 mortgage predictions: Read the rest of this entry »
2012 Predictions
January 9th, 2012
And To All…A Good Night (and a good 2012)!
December 23rd, 2011
Happy holidays and a happy and successful new year to us all! This is always the time of year we look back on the year that has passed, and more importantly, we look forward to the new year and we make our new year’s resolutions. I’d like to make some resolutions (business and personal) for the new year. And here they are for 2012: Read the rest of this entry »
Christmas 2012 Rhyme
December 20th, 2012
Bernanke the Red-Nosed Fed chairman,
Had a very shiny nose.
And if you ever saw it,
You would even say it glows.
All of the other Fed chairman,
Used to laugh and call him names.
They never let poor Bernanke,
Join in any back room games.
Then one foggy Christmas Eve,
POTUS came to say, Read the rest of this entry »
Condo Fees Are A Waste Of Money?
December 5th, 2012
Condominium fees are a waste of money. This is a common refrain I hear from people that are considering buying a condo. But are condo fees really a waste of money? Condo fees are thought a waste of money for people that do not properly maintain their home. For people that are used to owning a single-family home, with no mandated condo fees, they may:
- Never do any maintenance on the systems.
- Never consider that they’ll have to replace the roof.
- Infrequently repaint, re-carpet, or refinish floors.
I can see the point that in their opinion condo fees seem like a waste of money. Read the rest of this entry »
Fiscal Cliff = Y2K?
December 31st, 2012
All this tiresome talk about the fiscal cliff is a non-event. It reminds me of all the drama over Y2K. Y2K was the Year 2000 computer problem also known as the Y2K problem, the Millennium bug, the Y2K bug, or simply Y2K. This was when computers all over the world were supposedly going to go haywire because of the practice of abbreviating a four digit year to two digits in all of the computer programming. I woke up the morning of January 1st 2000, and turned on my computer just fine, did online banking just fine, and surfed the Internet and there were no downed websites, etc. It was a non-event, so is this supposed fiscal cliff. Read the rest of this entry »
I Am In A Database? Really?
May 4th, 2012
Yes, we are all in databases, likely hundreds of them. Every single time we call an organization, buy something or ask a vendor a question, we go in a database. Companies and salespeople do not set up costly structures, go through licensing and training, and spend money on products and services, in the hopes that you will call, and call again, and remember to call in the future. Quite frankly, humans do not remember, we forget. We cannot remember all our favorite service providers and products. We need to be reminded. This is why Facebook exists, it is a convenient database of our friends, and reminds us of birthdays, to check in with friends far and wide, it automatically shows us news on friends lives, and forces us to stay in touch with more people than we ever could without it. Sales is no different. Salespeople organize clients and potential clients in a database. Why does this matter to you? Read the rest of this entry »
Is It Cheaper to Rent or Own a House? Pros & Cons of Renting vs. Buying
January 19th, 2022
To rent or to own? If you are planning on moving and are financially stable enough to potentially qualify for a mortgage, there is a lot for you to consider. Buying a home usually requires a down payment plus closing costs; renting also comes with its own fees, but those are generally less than you will need to buy a home. Here, we will explore whether it is cheaper to rent or own a house and the pros and cons of both.
Is Real Estate in Another Bubble?
December 9th, 2013
I wrote an article in February 2013 discussing the low inventory environment, wondering where the sellers were, and predicting that inventory would eventually start to rise, which would put a lid or even some downward pressure on real estate prices. To read that article click here. So where are prices and inventory headed now, a few quarters later? Read the rest of this entry »
Is Your Loan Officer A Salesperson?
October 1st, 2012
I think it is important to remind everyone every now and again that the mortgage business, at the end of the day, is a sales business. And loan officers are salespeople. We are trained as salespeople. We are incentivized as salespeople. Within the corporate hierarchy we are known solely as salespeople. But the consumer seems to forget that they are dealing with salespeople. I am not saying Read the rest of this entry »
It Got Dark!
January 26th, 2012
Going dark. All salespeople have experienced this, no matter how good. You educate a potential client, you spend hours and hours with them answering questions, you create a relationship, and you truly seek to help them to earn your commission. And then it happens, they go dark. No contact. No return calls. No email reply. No nothing. It is eerie. You start to wonder what you did wrong. Read the rest of this entry »
It Was Confirmation Bias That Overpriced My House, Not Me!
July 5th, 2012
Confirmation bias, what is it? I would say it is the psychological thing within most of us that colors our ability to admit we are wrong. I suffer from it mostly within the realm of investing. I am never wrong when I make an investment call, but of course, I am, many times. But I cannot admit it until its too late, because I am so smart, I cannot be wrong! So I wait until I lose even more, and then Read the rest of this entry »
Moving Tools When Moving Into A New Home
November 1st, 2022
When you move into a new home there are numerous tasks to track. It is almost impossible to keep everything organized, unless you keep track through a task list or use some sort of technology tool.
Although the closing will seem like a long time off once you get under contract for a new home, it will all happen quickly. And a lot of tasks related to moving into your new home require a lot of advance notice! It is time to start planning things ASAP, do not procrastinate. The below will help. Read the rest of this entry »
Renters becoming homebuyers. Sometimes We Take On More Than We Can Handle
November 5th, 2012
All homeowners have been renters at one point. Right before a renter will make a move up to home ownership and become a first time homeowner, they will talk to a mortgage lender like me to see how much of a mortgage they might be qualified. What do you think the rules are for a renter as far as how much mortgage they can qualify for? They are the same rules as anyone else. The debt ratio limits are the same. The income requirements are the same. The credit score requirements are the same.
The one thing that is different is Read the rest of this entry »
The Real Wicked Witch!
October 31st, 2012
The Wicked Witch of the East is back.
She is called Fannie Mae.
She is dressed in black.
Government makes her stronger every day.
She is fed by our tax dollars,
and is hungrier than ever.
She makes mortgage clients holler,
with paperwork that ends…never.
Dodd/Frank makes things worse,
it is reactive legislation.
As usual the legislators,
should have stayed on vacation.
Fannie Mae paperwork is arbitrary,
ridiculous, bloated and a bitch.
Getting a mortgage is as scary,
as a midnight visit from a witch!
To Rent or To Buy?
October 17th, 2013
To rent or to buy is an old question with varied answers. The answer depends on your ability to come up with a down payment, your ability to commit to a specific area, your creditworthiness, and much more. Those are questions for each individual to answer, but there is interesting math related to how much rent costs that should be reviewed in helping you determine your answer. Read the rest of this entry »
Trust Me, I Am A Financial Advisor
June 18th, 2012
I was recently reading an article that referenced a survey about the degree of trust people place in different professionals. The survey was done by John Hancock. The thing I found striking was that people trust their financial advisor more than any other professional, including their primary doctor or their accountant. Let us get a few things straight in this farce. Read the rest of this entry »
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