Homeowners Turning To Home Improvement Projects

Homeowners across the country have started to spend more on home improvement projects despite a challenging housing market, according to a recent San Francisco Chronicle article.

This shows consumer confidence, which is a great sign for the mortgage market. Also, it shows that people are making further investments into their home.

Both Lowe’s and Home Depot have seen an increase in sales in the most recent quarter. Lowe’s said yesterday that their fourth-quarter profits increased by 39%.

While the spike in sales is not a complete economic recovery omen, “the positive results show home-improvement retailers are seeing signs of life from shoppers as they take on projects around the house that were delayed during the consumer spending slowdown and recession,” said the CEO of Lowe’s, Robert Niblock, in the Chronicle.

Read the full article here. Have you taken on any home improvement projects recently?

Prepare for an Earthquake: Making a Disaster Kit

February 23, 2011

In California, earthquakes can and will happen here quite often. If a big one strikes on this earthquake-prone area, it is important to be prepared and keep you and your family safe.

Creating a disaster kit for your home is not difficult and could make all the difference one day, as well as providing peace of mind. The California Emergency Management Agency (CalEMA) emphasizes that the first 72 hours after a major disaster are critical.

“Electricity, gas, water, and telephones may not be working. In addition, public safety services such as police and fire departments will be busy handling serious crises. You should be prepared to be self-sufficient – able to live without running water, electricity and/or gas, and telephones – for at least three days following a major emergency.”

In order to prepare for three days, create a Disaster Kit with supplies for three days and place it in a central location. Most importantly, make sure you have one gallon of water per person, per day. This is the amount of water needed for survival.

Other supplies, including food, essential medications, and a freshly stocked first aid kit are essential in a proper disaster kit. This state video runs through how to make one: Emergency Kit Video

Mortgage Delinquencies Declining

Graph via the Wall Street Journal

According to a recent Wall Street Journal article, there has been a decline in mortgage delinquencies as a result of an improving labor market.

The job market effects the mortgage market intensely, because, as the article points out, “people need a paycheck to pay their mortgage.”

During the fourth quarter, the number of people behind on mortgage payments fell to its lowest point in two years.

An important takeaway from this article: “The figures provide the clearest indication yet that the mortgage crisis that began four years ago has stopped getting worse and is easing.”

Another thing to note is that the state of California is doing extremely well compared to others, with the state’s total foreclosure inventory in the fourth quarter below the national average for the first time since the mortgage crisis began.

An economist said that without a spike in unemployment, the mortgage delinquency rate should continue to decline; a great sign for economic recovery.

Financial Fitness

This article about being financially fit has great advice for small, inexpensive ways to save more money over time with your home.
Several tips that stand out are:

1. Be fire ready – Check that your fire extinguishers are functioning and easily available, and check your smoke detectors as well.

2. Prevent shocks – Outlets near water, such as in the bathroom or kitchen, should have a ground fault circuit to prevent shocks and electrocution. An inexpensive tool can alleviate this worry.
The major takeaway from this is that by making small investments in your home, you save yourself more in the long-run and protect the value of your property.
Full article here.

Mortgage Process Too Confusing for Some in Recent Survey

An article in yesterday’s Wall Street Journal revealed the results of a survey that determined the mortgage process was considered to be the one of the most confusing parts of buying a home.

While 54% of respondents said finding the right home was the most difficult part of the process, one-third of those surveyed by MortgageMatch.com felt that understanding the mortgage process was the most confusing.

According to the article, “nearly 23% of those surveyed said that the mortgage process was challenging because documentation requirements from lenders kept changing, compared with 7% of borrowers who said it was hard to qualify because their credit score wasn’t strong enough.”
While the requirements have changed, it is important that our customers are educated fully along every step of the sometimes-confusing mortgage process labyrinth. Your comfort and understanding is a priority, and if you have any questions, speak with a loan officer today.

Take a look at the full WSJ article here. Do your concerns match up with the survey results?

Annual Kickoff an Entertaining and Motivational

Manager Sean Sullivan performing the Evolution of Dance

This year’s annual company kickoff was a rousing success, with manager Sean Sullivan igniting the crowd with his performance of the YouTube sensation, the Evolution of Dance.

CEO Robert Reid went over this past year’s accomplishments and upcoming goals, and all loan officers were praised heavily for their success despite a challenging market.

The audience was given reviews of best practices, a panel with Realtors about communication, launching of new tools, organization and efficiency training by author Michael Linenberger, and a marketing update with the hard launch of social media.

One of the most exciting parts of the event was the speech given by keynote speakers, the owners of Think Big, Work Small. Funny, smart, and motivating, they discussed the power of blogging and business to business marketing.

Keynote speakers of Think Big, Work Small

Yearly awards were also given out to accomplished loan officers. The Top Performer winners are Tom Balk, Dimitri Timm, Christina Fernandez, Bob Casper, Alex Alexander, Stuart Davis, and Bob De Luzuriaga.
The President’s Club winners are Alan Russell, Arnie von Massenhausen, Bob Casper, Brent Blaustein, Camille DuPuis, Chad Hawker, Corey Wilson, Elizabeth Everitt, Melanie Dickman, Renee Morgan, Stefani Hartsell, and Sue Dirickson. The loan officer of the year awards went to Mike Ervin and Chad Hawker.
The overall message of the event rang true – our loan officers have adapted to changes and difficulties within the mortgage industry, and will continue to do so in 2011!

All Real Estate Professionals and Buyers--you want to watch this!

The Federal Government passed the Dodd-Frank Act that changes the way Loan Officers receive compensation as of April 1st, 2011.  Although the changes do limit how much we are able to make on a transaction, it will also significantly impact the Consumer. 

http://www.thinkbigworksmall.com/mypage/archive/1/58188/