Almost Spring...Can't Wait!

RATE AND PROGRAM UPDATES

We’ve seen many changes to the markets since the election, not the least of which is the stock market has been improving….and bond prices are down, which means interest rates are rising. We all agree that the bottom of the rate cycle has passed. That said, rates are still very attractive, and there are lots of people out there who haven’t taken advantage of a refinance.

Rates for most 30-year loans remain in the range of the mid 3’s to low 4’s, and there are lower rates for some products (15 years, ARMS and FHA/VA loans). Speaking of FHA financing, there are many changes coming up in the short term. Mortgage insurance charges are increasing.
On the bright side, new programs for conventional loans are making it easier to purchase homes with lower down payments...if you can find a property! It is definitely a seller’s market with little inventory, and rising home prices.

SHORT SALES, BK’s and FORECLOSURES: When are you eligible for a new loan?

Short Sale/Deed in lieu:
2 years with 20% down; 4 years with 10% down –conventional loans
3 years FHA financing (unless no late payments prior to transfer)
Foreclosure:
3 years FHA, 7 years conventional
Bankruptcy:
2 years FHA, 4 years conventional

Updates to MY WORLD

CHRISTMAS

The holidays were especially wonderful for me since I had all my children together for Christmas, INLCUDING my brand new grandson, Theo, who wasn’t yet a week old.


Katie and her beau Paul flew in from Michigan, Kenny was home (for GOOD!) from Berlin, and Drew and MaryGrace arrived from San Diego with baby Theo in tow. Mom was with us, along with all three of Steve’s boys, so it was a real family affair. The hit of the evening –other than Theo--were two battery-powered Shark balloons ready for battle.


We celebrated New Years at a local restaurant, the Dana Point Wine Bistro, and had a fabulous meal with best friends while dancing the night away! www.winebistrodp.com

DALLAS

I was in Dallas in February for a grand opening party for Museum Tower. I was able to tour the building for the first time, and view the model homes, which were beautiful. The party hosted over 500 who were served food and beverages at a number of stations throughout the building. We were treated to music in three separate locations, and one location had a dance floor!

The biggest hit with the party-goers was the 38th floor – for its expansive views of Dallas and environs—but my favorite locale was the pool deck , which was quite frankly luxury defined, at least for me. Great views, beautiful pool, two separate fireplace seating areas, bocce ball court, Jacuzzi, interior bar seating area….all with the backdrop of downtown Dallas. I inquired as to whether they allowed camping on the pool area lawn, but was politely declined. Darn! I told them I’d just shower in the gym, which is on the same level, but no go! Check it out at www.museumtowerdallas.com

As sales activity has been picking up, so has Steve’s time spent in Dallas. The weather there is pretty strange and changeable, but the people are really friendly and fun. My favorite dance class ever is at the T. Boone Pickens YMCA—downtown—on Thursdays. I always try to make the class when I am visiting. Great combination of hip hop and Zumba, with the emphasis on hip hop. Meals at Truluck’s and Stephan Pyles were great as usual, but my favorite was Stampede 66, a NEW Stephan Pyles restaurant. www.stampede66.com Fun, casual atmosphere and CRAZY Fried green tomatoes.

CATALYST NEWS

We ended 2012 with a tad over $600 million in loans funded, and I was the #3 Loan Officer. I’ve been officially initiated into the “Chairman’s Club” with the Top Four, and am waiting to receive my gold-embossed business cards. Nice! Keep the loans coming!

NEXT UP

Scuba diving in the Turks and Caicos Islands in March….

July - The Heat is On!

Rates continue to hit records lows, and property values are following suit. Sales volume appears to be picking up. Of course, this is the traditional buying season!

Reminder: if you’re holding onto a loan with a rate over 5.5%, you most likely should refinance. Rates are in the low 3’s for 5,7 and 10 year loans, and in the mid-4’s for 30 year fixed rates. Specific rates all depend on loan size, property value, and FICO score; and for loan approval you’ll need to offer up your firstborn child. NOT! But sometimes it feels that way these days!

Fun in the Sun:




Our Fourth of July was spent with old friends on their boat in the Dana Point Harbor. We kayaked around the harbor, and witnessed the water fights in the main channel where young and old alike—on all kinds and sized watercraft -- enjoyed splashing each other with power hoses, water guns, buckets of sea water, etc. What a sight to see!


We’ve attended the first two free concerts in the park here in Dana Point: a Fleetwood Mac cover band, and last week --the Parrot Heads. You’ve got to love Dana Point and all their community events. The parks offer harbor and ocean views in the Sunday afternoon sun while participants of all ages dance and socialize.




We’re loving summer. We had a short camping trip to Santa Barbara, where I crashed on my mountain bike. Then Steve and I explored the Jalama Beach Resort north of Gaviota, which we’d read about but never seen. It’s beautiful but very remote. www.jalamabeach.com We camped at our favorite spot in El Capitan. And, I’ve recovered from my knee injury!

Steve is still commuting to Dallas, and I’ll accompany him later this month. I hope it isn’t sweltering! At least I’ll have a swimming pool…What have you been up to

Beautiful Buena Ventura

I visited downtown Ventura last weekend. Much to my surprise, it was a happening place! I was amazed at the number and variety of restaurants, clubs, and activities.

Although we were in Ventura earlier this year in March, on that trip we drove directly to the Harbor on a Friday evening. We had dinner at a restaurant, and slept on our dive boat in preparation for an early morning departure for scuba diving the Channel Islands. Our favorite Santa Barbara seafood restaurant, Brophy Bros, has a restaurant located there. The Harbor offers a great selection of other fun eateries and bars.

That Saturday we dove around Anacapa Island (the closest to Ventura) at three different locations. The most exciting was on the west side of the island, where we swam with a large group of sea lions, who followed us around and played with us.

During our visit last weekend—primarily for a high school football game—we stayed at a motel walking distance to the beach and historic pier, and a block to the downtown area.

After an early dinner on the pier to watch a spectacular sunset, we headed out to the game. Our first stop back in town, around 10:00 p.m., was the Bombay Bar & Grill which we had been advised was a dancing “hotspot.” Expecting to see a crowd of 20- and 30-somethings, we were greeted by a large group of all ages, dancing to a live band playing current top 40’s. No cover charge to enter! There was plenty of room at the bar, which was nice, and the bartender kindly held my purse while dancing. In the back of the restaurant, the club scene with a DJ was just getting started. Definitely a younger set there—and the action starts later.

Next we headed out on California towards Main Street, and crossed to another restaurant where we heard live music playing. On Main Street itself, we were greeted by more music on all sides. It felt like a battle of the bands. We heard everything from Jazz and Reggae to Rock and Hip Hop. I can’t wait to go back and explore some more!