Looking for property

Hi All,
I sold my personal residence and am looking for a home in either Folsom or El Dorado Hills.  1800-2500 sq.ft. 4 bedroom, 3 car garage. $400,000 max.  Let me know if you have anything available. Will be closed first of February.
Thanks
Gidget

Mortgage Success

 


February 27, 2013

Last Week in Review

The debate within the Fed about whether to continue their latest round of bond buying, known as Quantitative Easing, continues.


Table Source: Mortgage Success Source


What is Quantitative Easing?
Quantitative Easing is the concept of the Fed becoming a buyer of Treasuries and bonds to try to stimulate the economy.

Why does the Fed do Quantitative Easing?
Often, the Fed does Quantitative Easing to create inflation and avoid a deflationary economy. It’s also used to help lower the unemployment rate and boost stock prices. For this latest round, the Fed especially wanted to help stimulate the housing market and our economy overall.

The housing market has shown signs of improvement lately. While housing starts in January declined overall, single family housing starts rose to their highest rate since July 2008. Building permits, a sign of future construction, also came in above expectations. These reports were the latest in a series of reports showing that the housing market is recovering.

Last week, the minutes from the Fed’s January meeting of the Federal Open Market Committee noted that several Fed members would like to halt the Quantitative Easing program sooner than planned, because they are concerned about inflation. However, it’s important to note that last week’s Producer and Consumer Price Index Reports showed that inflation at both the wholesale and consumer levels remained moderate in January.

On the reverse side, other Fed members are concerned that halting the program too soon could end the recovery in the housing market, and hinder our economic recovery overall.

The biggest take away is that home loan rates continue to remain near historic lows.

Forecast for the week

A busy week of reports is ahead, with news on housing, manufacturing, consumer sentiment, U.S. growth and inflation.

  • The week starts and ends with a measure of how the consumer is feeling with yesterday’s Consumer Confidence Report and last week’s Consumer Sentiment Index.
  • Look for Pending Home Sales today.
  • We’ll get a sense of how the economy is doing with today’s Durable Goods Orders, which measures orders for products used for an extended period of time, and this week’s Gross Domestic Product, the biggest picture of economic activity.
  • Also later this week Weekly Initial Jobless Claims will be reported.
  • Late in the week also brings Personal Consumption Expenditures, the Fed’s favorite measure of inflation, along with Personal Income and Spending and the ISM Index.
Remember: Weak economic news normally causes money to flow out of stocks and into bonds, helping bonds and home loan rates improve, while strong economic news normally has the opposite result.
 
As you can see in the chart below and as mentioned above, inflation continues to remain moderate. Remember that inflation negatively affects bonds because it hurts the value of fixed investments like bonds.

Tips for Sellers

Selecting a RealtorĀ®

Your most important decision when selling your home is the selection of the person you choose to represent you.

The job of your Sales Associate is to support you in selling your home with the best possible terms, and to aid you through the entire process.

Your Sales Associate will explain the process of selling a home, and familiarize you with the various activities, documents and procedures that you will experience throughout the transaction.

Tips For Selecting A Realtor

Your Real Estate Professional should be:
  • Aware of the complicated local and state requirements affecting your transaction.
  • Effective in multi-party, face-to-face negotiations.
  • Highly-trained, with access to programs for continued learning and additional certifications.
  • Resourceful in attracting the largest possible pool of potential buyers.
  • Knowledgeable in the technology resources that facilitate the transaction.
  • Assisted by a fully-staffed marketing department.
  • Supported by professional legal counsel.

Developing a Marketing Strategy

In order to sell your home quickly and on with the best possible terms, it's necessary to prepare your home for the market. This process includes:
  • Deciding when to put your home on the market.
  • Establishing a strategic price based on recent comparable sales, local market conditions and your motivation to sell.
  • Estimating probable net proceeds.
  • Advising you on how to make your home more appealing to potential buyers.

Marketing Your Property
  • Ordering a "FOR SALE" sign to be placed prominently on your property.
  • Installing a lock box to make it easy for agents to show your home.
  • Submitting your home to the regional Multiple Listing Service for immediate exposure to the real estate community.
  • Arranging Sales Associates in the area to tour the home.
  • Developing a flyer/brochure highlighting the features and benefits of your home.
  • Promoting your home at the appropriate Association(s) of Realtors' for maximum exposure to other cooperating agents.
  • Holding open houses when appropriate.
  • Contacting your neighbors to promote the property.
  • Advertising your property on our regular office schedule meetings.
  • Featuring your property on our web site and REALTOR.com.
  • Asking clients and colleagues if they know of possible buyers.

Managing the Transaction

You'll appreciate having a strong advocate on your side during the transaction!


Negotiating the Offer

Your Sales Associate will immediately present and explain all offers to you. You will be able to accept, reject, or counter any offer presented. During the negotiation process, your Associate will leverage their experience and skills to advocate your interests:
  • Reviewing the contract and obligations before you sign.
  • Explaining how contingencies and release clauses work.
  • Protecting you from signing a "blank check" for unknown problems or repairs.
  • Defining legal disclosure requirements.
  • Orchestrate the offer process for "back-up" offers, if necessary.
Throughout the negotiation, your Sales Associate will provide you with a professional, objective point of view; but the final decision of accepting an offer is yours.

After the Offer is Accepted

Once an offer is accepted, your Sales Associate will manage all the details to make the process as stress-free and efficient as possible:
  • Staying in contact with the buyer's agent to ensure a smooth escrow.
  • Following up on the progress of the buyer's loan.
  • Monitoring all contingency removal deadlines.
  • Assisting you if a conflict with the buyer arises.

Finalizing and Closing the Transaction

Finalizing the process includes reviewing all closing documents and ensuring both parties have copies. When the transaction has closed, your Sales Associate will deliver the closing check to you and the keys to the new owner.