Did you know we have access to a nationwide network of experienced REALTORS® who work by referral….just like us! If you or someone you know is looking to buy or sell anywhere in the United States or Canada, please allow us to connect you with one of our trusted colleagues. They will be able to guide you and take care of you…before, during and after the sale!
Phoenix and most of the US are in a strong seller’s market with significant competition on every listing. We have a set of tools and options to get you into your new home before selling your current home. We can help you be competitive and bring more to the table when competing for the very few listings available.
Reverse mortgages have changed over the last few years and now are one of the safest and most flexible loans that people over 62 can have. The Home Equity Conversion Mortgage or HECM program is highly regulated by HUB and FHA and is considered one of the safest loans available. The HECM can even be used to help purchase another home with low credit qualifications. These types of loans have been around since the 1980’s but) The real estate and financial planning industries have recently taken a new look and found that if structured and used the right way, the positive financial benefits (implications) are huge (unmatched)….further, the commitment to a fixed 30 year or 15-year mortgage is often the WORST use of a fixed retirement income. Bill Cave is one of the leading Reverse Mortgage Specialist that only works on these types of loans. For even more info contact Reverse mortage Expert Bill Cave.
I hope everyone had a fantastic Thanksgiving Weekend. The market is still moving higher. Also, a great commentary from Michael Orr about comparing 2020 with 2004-2006.
We have been short of supply since 2015 and the situation has become steadily more severe. There are just not enough homes to buy for people who want them. Millennials who continued to rent long after earlier generations are now anxious to get their foot on the ladder. Investors are back in volume having taken a pause during the second quarter. However, unlike in 2004, investors remain a relatively small part of the demand. Most of the people buying homes are doing so because they want a primary residence.
1. Owner-occupied primary residence – 77.3%
2. Investment – 12.2%
3. Owner-occupied secondary residence – 8.6%
4. iBuyer for re-sale – 1.6%
5. Unknown – 0.3%
People who are worrying about mortgage delinquency rates should remember that foreclosures did NOT create the huge excess supply of 2006. The excess supply arrived 2 years before the foreclosures started in earnest. When the bank owned homes hit the market, it was already dreadfully over-supplied, so their prices dropped sharply. If we saw a new wave of distressed homes right now, they would be soaked up very quickly by eager buyers and prices would continue to rise.
It would help move the market back to a more normal balance, so prices would rise at a more moderate pace. Most distressed homes would be unlikely to get to foreclosure because almost all of them have substantial owner equity and can be marketed as normal sales, or at worst pre-foreclosures, not short sales (which can often be tricky to close).
The current situation is very different from 2004 or 2005. Then a large number of newly built homes had been purchased by investors with 100% loans and were lying unoccupied with no tenants interested in renting them, despite record low rental rates. Many other homes had been purchased by owner-occupiers on fraudulent loan applications, who never even made the first monthly loan payment, living in their new home for free with minimal money down.
Loan fraud was rampant in 2005 and 2006, largely driven by the mortgage industry itself rather than the borrowers. Wall Street firms (like Lehman Brothers) demanded mortgages to chop up and sell as securities and mortgage brokers could not supply enough without resorting to abnormal practices focused mainly on sub-prime loans. Remember Countrywide and Washington Mutual? Stated income loans? No documentation loans?
I repeat – 2020 is nothing like 2005. The 2020 housing market is not abnormally pumped with artificial credit, just starved of supply. Forecasting the future is extremely difficult, but drawing parallels with 2005-2008 is not helpful, nor is it logically appropriate.
by Michael Orr – Cromford Report
Not going to make the cover of Martha Stewart Living but damn delicious.
Spatchcocking is a great way to prepare any poultry but especially a Thanksgiving turkey, because of its size. Spatchcocking is when you remove the backbone and crack the breastbone so that you can cook the bird flat on the grill. This method is a great way to get crispy skin and cut your cook time in half.
All that tradition stuffed into one delicious burger.
It is just that good.
1. Coat with butter, season well with salt, pepper, garlic powder, onion powder.
2. Roast in the oven at 350° degrees, 18 minutes per pound, and the roast will be medium when the center reaches 130° degrees. Let rest 15 minutes minimum, pull the meat at 125° to serve medium-rare. Resting is very important! Serve with your favorite sides.
Because it is always quieter when everyone is just eating.
1. Coat with olive oil, salt, and pepper well,
2. Stuff a sprig of Rosemary and thyme, roast in the oven at 450° degrees for 15 minutes.
3. Turn down to 350° degrees, and roast 15 minutes per pound until the center reaches 135 degrees.
4. Let rest 15 minutes minimum. Resting is very important.