MARKET UPDATE - ADVERSITY
The latest news for multi-family housing is developers have
slowed/stopped new construction. This is
primarily due to higher interest rates coupled with greater difficulty
qualifying for loans. This will translate
into higher rents, particularly in the coastal areas of California where
housing is already in short supply and high demand.
Translation: Prospective
buyers should not wait for rates or prices to come down, as neither is
likely in the next 12 months. No one
anticipates home values to decrease.
OPPORTUNITIES
We are offering a personal loan program – NOT a Mortgage
loan – for auto loans, remodels, swimming pools, debt consolidation, recreation
and more. This is not recorded on your home
and has no effect on the low rate first mortgage most of our clients have. The
turn time on these loans is extremely short, even overnight, and offers a quick and easy way to
access fast cash.
Loan amounts can vary from $5,000 to $100,000. Loans are underwritten based on income, assets,
and credit. The process is completely digital
and there are no up-front fees or prepayment penalties.
Click here for the link to a quick qualification process: Personal Loan Link
REMINDERS
Real estate taxes are coming due, and must be paid by December 10th to avoid penalties The second half taxes are due by April 10th. Such great timing for Christmas and tax time, huh?
Self-employed borrowers should have their taxes reviewed by us
prior to filing if they are considering making a home purchase or refinance in the
next two years. Writing off too many expenses
can kill a home purchase or refi, unless you want to use a bank statement loan which carries a higher rate.
PERSONAL UPDATES
I’m writing this from Madera (just north of Fresno) where I am temporarily staying with my sister who suffered a stroke. My sister lives alone and we were extremely lucky her daughter sounded the alarm when she could not contact her one morning.
She is improving daily, and we expect a full recovery. This has been a big wakeup call and reminder
to be grateful every day, keep your loved ones close, always do your best and
be kind to all. And, take good care of your health.
As always, call us with any questions or concerns.
