Crazy Mondays:

Crazy Monday, however with all that we see and hear should stay low for a while. See more

We will keep you posted as to the movements in the markets.

Mr. Will

Happy VA Clients

A great couple after a long home search closed their VA Mortgage today and now for the paint and making the house a home is underway. Great clients do make not only clients for life, but in this case friends as well. Client participation in the loan process makes a loan officers job a privilege to serve.

Family and Mortgages. That is odd.

Early this morning we were reading our devotions for the day and low and behold what a story.

First my coffee cup, that incidentally was in the dish washer and we did not want to make any noised as Ms. Gayle (my Wife) had gotten up earlier

and went to the front bedroom to sleep due to some pain issues. (very unselfish I might add)
Well enough said; we went to the pantry, and got a cup that we do not normally use and it had an inscription on it that said "Friends are the family that you choose," interesting huh.
Next we get back to the reading and the heading "Preserve relationships."
Here we go ok God what life lesson do have for me today.
The scripture was from Genesis 12 about Abram and his nephew Lot. The Herdsmen were arguing about the pasture land.
Abram said to Lot lets not quarrel about pastureland for our herds, so Abram let Lot choose.

What does this say about Mortgages, nothing; however there are choices out there make the right one. Mr. Will from Jacksonville

And yes the Quote for the day from Forbes was

“Only the bold get to the top.”
— Publilius Syrus
Now how does that play into the above?

According to a recent survey by the National Association of Realtors (NAR), the typical U.S. homebuyer spent less and borrowed less in 2011. NAR's annual Profile of Home Buyers and Sellers, which due to methodology tends to under-represent investors versus owner-occupied properties, reported that "first time buyers, who made up 37% of the market, down from an historic 40% share, had a median age of 31 and income of $62,400, up from $59,900 in the 2010 study. This buyer typically bought a 1,570 square foot home for $155,000, taking on a median monthly mortgage principal and interest payment of $794. The typical repeat buyer was 53 years old, earned $96,600 (up from $87,000 reported last year) and purchased a 2,100 square foot home for $219,500 with a median payment of $1,006." Most purchased a SFR (77%), 9% a condo, 8% a town or row house and 6% some other kind of housing. The median down payment for all buyers was 11%, however for first-time buyers it was 5% and for repeat buyers 15%. In both cases the median was a full percentage point higher than in 2010. Fifty-four percent of first-time buyers financed with a low-down payment FHA mortgage, and 6% used the VA loan program which requires no down payment."

Large and smaller print:
According to a recent survey by the National Association of Realtors (NAR), the typical U.S. homebuyer spent less and borrowed less in 2011. NAR's annual Profile of Home Buyers and Sellers, which due to methodology tends to under-represent investors versus owner-occupied properties, reported that "first time buyers, who made up 37% of the market, down from an historic 40% share, had a median age of 31 and income of $62,400, up from $59,900 in the 2010 study. This buyer typically bought a 1,570 square foot home for $155,000, taking on a median monthly mortgage principal and interest payment of $794. The typical repeat buyer was 53 years old, earned $96,600 (up from $87,000 reported last year) and purchased a 2,100 square foot home for $219,500 with a median payment of $1,006." Most purchased a SFR (77%), 9% a condo, 8% a town or row house and 6% some other kind of housing. The median down payment for all buyers was 11%, however for first-time buyers it was 5% and for repeat buyers 15%. In both cases the median was a full percentage point higher than in 2010. Fifty-four percent of first-time buyers financed with a low-down payment FHA mortgage, and 6% used the VA loan program which requires no down payment." see more here

Fannie Mae and Fredie Mac First timw home buyers

On 11/22/2011 10:25 AM, Will Rudloff wrote: www.willrudloff.com
On the good news side of things, Existing Home Sales came in above expectations driven by an increase in single-family sales. It takes down the inventory to 8 months, although the distressed sales amounted to 28% of the activity (vs. 13% In Sep), and that first time home buyers made up a greater share of activity. Year over year existing home sales and are 13.5% higher than the 4.38 million unit level in October 2010. Analysts point out that this month's report is a bit more positive but do not expect the trend to persist. And loan agents can tell you that contract failures reported by NAR members NAR National Assoc of realtors)
Information earlier from Rob Chrisman [rchrisman@robchrisman.com]

Am I smarter than you??

Thought this article was worth sharing:


I’m smarter than you are
November 16th, 2011. By Mike Marchev

I could wax eloquent on this subject and have lots of fun doing so.
But in the interest of time–both yours and mine, I will immediately
Address the subject at hand.

I believe I am smarter than you for five very simple reasons:

1. I read a lot. I don’t care what books you read while attending
Harvard or MIT. Or Wellesley or Smith. I was a History Major at UMASS
and for the past 40 years, I have yet to be asked a question about the
Battle of 1812. I do want to know everything I can about people,
sales, marketing, why people think the way they do and how the
different generations differ in thought and practice. The answer to
all these questions come as a result of reading. And I read a lot. Do
You read a lot? Or are you content on staring at your diploma from a
Zillion years ago?

2. I fail a lot. I refuse to stay within my comfort zone and play it
safe. I am constantly trying new things both on and away from the
Internet. I believe that with failure comes learning. I fail a lot. Do
You fail a lot? Do you learn from your failures?

3. I am coachable. Knowing you don’t know it all is key. Being able to
Internalize constructive criticism and learn from other’s experiences
Is a skill worth developing? With being coachable comes the
Willingness to practice. I practice a lot. Do you practice a lot?

4. I listen a lot? Most people simply wait their turn to speak. I
Listen a lot. Do you listen a lot? Do you enter a conversation with?
The understanding that you already know what you know, and that the
Trick is to learn and benefit from what others know. The key is to
Develop the skill of “listening.” Go to school on other people.

5. I laugh a lot. The ability to find the humor in most situations is
A skill that differentiates the true professionals from the wanna-bes.
Humor drives a happy environment. Being confident enough to laugh at
Yourself puts others at ease. I laugh a lot. Do you laugh a lot?

And there you have it. Five reasons why I believe I am smarter than you are.

I read, fail, learn, listen and laugh more than you do. Hence, I in my
World by my definition, I am smarter than you.

But, as in everything I do and everything I say, I may be wrong. In
This case, I truly hope I am wrong. I want to believe that you read,
fail, learn, listen and laugh more than I do. Because if you do, you
are on your way to a super-fine life. Get on track. Then keep on
track. Be smarter than me.
Thanks Bev from J&B Travels www.jandbjourneys.com