It is never too late to Owner Finance!
September 17, 2007
Thinking of moving? Is your house not garnering the foot traffic you had hoped for in spite of the fact it has been on the market for 90 days? Perhaps it is the ideal time to put a sign in front of the house that says “Owner Will Finance”. Let me explain my thinking.
We are only hours away from a crucial if not historic announcement from the Federal Reserve as it announces which direction interest rates will take. The stock market has already factored in a rate cut from the Fed (of at least .25) and frankly would like to see more.
Although third-quarter results are due in later this week from the major brokerage houses such as Goldman Sachs, Morgan Stanley, Lehman, and Bear Stearns, these major investment banks suffered stock price drops anywhere from $.88 to $2.98 in their respective shares today.
The price of crude oil and gold are up while the Dow Jones industrials closed moderately down 39.10 (to 13,403.42) with declining issues outnumbering advancers by a rate of more than 2-to-1 on the New York Stock Exchange.
Couple that somber investment information with former Federal Reserve Chairman Alan Greenspan talking in an NBC interview on Monday in which he posits that the likelihood of an economy wide recession is now slightly larger than at the beginning of the year.
Surprisingly, the economy posted 4,000 jobs lost in the month of August. If you had moving on your mind, it’s far better to sell ahead of the credit crunch…. than anything else.
I think it’s time to carry back a second mortgage to get your house sold. What do you think?
Best in Success,
Maria Fee
REMI KNOX, LLC
Trading Financial Futures TM
281-346-0400 BUS | EMAIL MariaFee@REMIKNOX.com
866-871-5914 BUS |
281-346-1300 FAX | WEB www.REMIKNOX.com
Be your OWN BOSS! PART TIME NOTE BROKERING FOR FULL-TIME PROFIT.
Visit http://www.reminote.com/brokernotes.php.
Help me think through this….
September 11, 2007
According to the National Association of Realtors, home sales are off. No, really!
In fact if you go to their web site you’ll see the following article listed below for your convenience. With your help, I would like to go through the article paragraph by paragraph to understand where we are from a real estate standpoint. If you have any desire whatsoever to owner finance the sale of your primary home, this article will help you decide!
Mortgage Problems to Dampen Home Sales in The Short Term
WASHINGTON, September 11, 2007 – Tighter credit for home mortgages will measurably dampen home sales in the short term and postpone an expected recovery for existing-home sales until 2008, according to the latest forecast by the National Association of Realtors®.
“We have already started the fourth quarter of the fiscal year 2007 and the National Association of Realtors only now uses words like ‘dampen’ when describing nonexistent real estate sales. That is a curious use of phraseology.”
Lawrence Yun, NAR senior economist, said unusual disruptions in the mortgage market are dampening the outlook for home sales, notably for August and September. “There’s been an unusual hit to home sales, starting in March when subprime problems emerged and more recently when problems spread to jumbo loans, with many potential buyers on the sidelines.
“This is not rocket science, folks. If a group of people do not pay back their mortgage loans then banks won’t have enough funds to finance jumbo loans.”
“However, the jumbo loan market is now beginning to settle, and FHA-insured loans are helping to fill the subprime vacuum. The volume of existing-home sales this year will be better than 2002, which was the second year of the housing boom.”
“I don’t mind going back in time to find a year better than the one were currently having but to go back five years tells you how bad the current market is!”
Existing-home sales are projected at 5.92 million this year and then rise to 6.27 million in 2008, compared with 6.48 million in 2006. New-home sales should total 801,000 in 2007 and 741,000 next year, below the 1.05 million in 2006.
“Estimates are just that: no one is going to lose their job for a bad set of guesses. To my mind, anyone who wants to forecast into the year 2008 about homes bought and sold is playing fast and loose with the numbers. If their crystal ball is so accurate, they wouldn’t be forecasting real estate news.”
“A sharp production pullback by homebuilders deep into 2008 is a healthy trend that will help trim down housing inventory,” Yun said. Housing starts, including multifamily units, are expected to total 1.37 million this year and 1.26 million in 2008, compared with 1.80 million in 2006.
“When realtors use terms like ‘healthy trend’ to describe homebuilders losing their shirt on new-home construction, something has to be wrong with the vocabulary set.”
“The mortgage markets will calm further in the months ahead, but it’s important to underscore the fact that conventional loans – the vast majority of available financing – are available to creditworthy borrowers,” Yun said. “Patient buyers in most areas who do their homework will recognize that housing remains a good long-term investment.”
“This is the interesting part as it pertains to Owner Financing and that there is very few creditworthy borrowers in today’s market. As I visit with various realtors they indicate that the good buyers are staying home because they’re afraid to be caught in a valuation crunch. Simply said, they don’t want to buy a home that is overvalued. To lure good buyers in the market, you the owner of the home will have to produce incentives such as Owner Financing.”
Existing-home prices are likely to slip 1.7 percent to a median of $218,200 this year before rising 2.2 percent in 2008 to $223,000. The median new-home price is estimated to drop 2.2 percent to $241,100 in 2007, and then increase 1.7 percent next year to $245,100.
“Any discussion of what is going to happen in the fiscal year 2008 is off-limits. Nobody can time the market and no one can see the future. Anyone who says otherwise has a bridge they want you to buy in Arizona.”
The 30-year fixed-rate mortgage is projected to average 6.4 percent for the balance of the year and then edge up to the 6.5 percent range in 2008.
“We expect the Fed to cut rates two times before the end of the year, which will lower interest rates for prime borrowers and FHA-insured loans,” Yun said. “FHA modernization could buffer the fallout of subprime loans, which would raise our sales forecast in the future.”
“Saying that you expect that the Federal Reserve Board will cut interest rates is analogous to saying we expect the impossible from our government. Last time I checked there was no discussion as to whether Ben Bernanke was going to cut rates or not.”
Growth in the U.S. gross domestic product (GDP) is forecast at 2.0 percent in 2007, below the 2.9 percent growth rate last year; GDP will probably grow 2.7 percent in 2008.
The unemployment rate should average 4.6 percent for 2007, unchanged from last year. Inflation, as measured by the Consumer Price Index, is estimated to be 2.8 percent in 2007, compared with 3.2 percent last year. Inflation-adjusted disposable personal income is likely to increase 3.6 percent this year, up from 3.1 percent in 2006.
“If you want to know what the annual rate of inflation is, www.bls.gov is a better source, not the Consumer Price Index. The Consumer Price Index may be a useful measure first some kinds of things but is not useful for measuring inflation or wage appreciation.”
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.
# # #
For more information, contact: Walter Molony, 202/383-1177, wmolony@realtors.org
http://www.realtor.org/press_room/news_releases/2007/sept_forecast07_dampen_home_sales.html
“By all means, go ahead and visit with Walter Molony about some of the hard data appearing in his article. Ask him if he trusts his puff piece enough to put his job on the line if the pie-in-the-sky guess-estimates are incorrect. I know a lot of homeowners that need to sell their home and cannot trust these figures. Real estate is too important to leave to the realtors.”
Best in Success,
Maria Fee
REMI KNOX, LLC
Trading Financial Futures TM
281-346-0400 BUS | EMAIL MariaFee@REMIKNOX.com
866-871-5914 BUS |
281-346-1300 FAX | WEB www.REMIKNOX.com
Be your OWN BOSS! PART TIME NOTE BROKERING FOR FULL-TIME PROFIT.
Visit http://www.reminote.com/brokernotes.php.
My, what a busy weekend I’ve had. It was good but it was also exhausting. As a result, I didn’t feel like sharing some mortgage note news earlier today but I decided to go ahead and share with you a couple tidbits that I discovered in today’s reading.
Ordinarily I wouldn’t think of upwardly mobile and mobile home being two phrases used in the same breath but if you live in Aspen Colorado you may be blessed by location, location, location! Read this article about Smuggler Park being a five-minute walk from downtown Aspen and all the owners of the lots in this trailer park are sitting on top of real estate that may start at 500 Large!
http://www.denverpost.com/ci_6776884?source=rss
CountryFried Financial Corporation was in the news on Friday, September 7, 2007 A.D. as they announced employment reductions/firings totaling as much as 20% of its workforce, or about 12,000 jobs. You can read about it here:
http://biz.yahoo.com/ap/070907/countrywide_job_cuts.html?.v=18
or here: http://www.countrywide.com
Best in Success,
Maria Fee
REMI KNOX, LLC
Trading Financial Futures TM
281-346-0400 BUS | EMAIL MariaFee@REMIKNOX.com
866-871-5914 BUS |
281-346-1300 FAX | WEB www.REMIKNOX.com
Be your OWN BOSS! PART TIME NOTE BROKERING FOR FULL-TIME PROFIT.
Visit http://www.reminote.com/brokernotes.php.
Is the future so bright you just have to wear shades?
August 30, 2007
Got that big promotion? Will you be moving to take that new job? Shall I send over some sunglasses because the future is looking so bright?!
Won’t you be surprised when you go to sell your home and your prospective buyer can’t even qualify for a bank loan in spite of the fact that they intend to make very large down payment and have stellar credit histories! Horror of horrors, they cannot find a bank that wants to underwrite a conventional jumbo mortgage loan!
Welcome to the world of the home-grown subprime mortgage liquidity meltdown! You respond in bewilderment by saying that your home is in an upscale neighborhood and the “good” buyers in front of you have easily qualified for jumbo loans before (that is to say home loans greater than $417,000).
With a certain incredible air in your voice, you say your property does not even reside in California where the median home price is well above $500,000 (and jumbo mortgages are as much as 44 percent of all mortgages issued in certain metro areas, according to data from First American LoanPerformance).
Maybe it’s time to consider Owner Financing just to get out of Dodge….?!
I am not making this up. Consider these articles:
http://biz.yahoo.com/ap/070829/mortgage_applications.html?.v=1
http://biz.yahoo.com/ap/070829/expensive_homes.html?.v=2
Best in Success,
Maria Fee
REMI KNOX, LLC
Trading Financial Futures TM
281-346-0400 BUS | EMAIL MariaFee@REMIKNOX.com
866-871-5914 BUS |
281-346-1300 FAX | WEB www.REMIKNOX.com
Be your OWN BOSS! PART TIME NOTE BROKERING FOR FULL-TIME PROFIT.
Visit http://www.reminote.com/brokernotes.php.
Deep Pockets or riding out the storm
August 24, 2007
Dear Reader,
By now you’re well aware of the fact that Bank of America has provided financial resources (in exchange for partial ownership) to Countrywide mortgages. Why did they do this? Are they not aware of the hemorrhaging that’s taking place in the subprime mortgage market?
The answer is of course they are but they are smart money people and they intend to ride out the financial storm because they have deep pockets.
Furthermore they’re buying pieces of Countrywide at cents on the dollar because Countrywide has no financial reserves. By being smart with their money, Bank of America has a huge design on the future and they have waited for such an opportunity as this to buy someone’s portfolio at firesale prices. The honchos at Bank of America are banking on the odds that all of Countrywide’s mortgage loans will not be going south simultaneously. Most mortgages will stay solvent.
One way or another, Bank of America is fiscally strong enough to weather the subprime mortgage storm. They were prudent during the real estate bubble and now have deep pockets….
If you have been financially prudent as well, this is an exciting time for Owner Financing! More people than ever before are going to need private source funds to finance their homes. Are you ready to help them?
Best in Success,
Maria Fee
REMI KNOX, LLC
Trading Financial Futures TM
281-346-0400 BUS | EMAIL MariaFee@REMIKNOX.com
866-871-5914 BUS |
281-346-1300 FAX | WEB www.REMIKNOX.com
Be your OWN BOSS! PART TIME NOTE BROKERING FOR FULL-TIME PROFIT.
Visit http://www.reminote.com/brokernotes.php.
On Friday the Associated Press reported that First Magnus Financial Corp. was about to lay off nearly 99% of their workforce. First Magnus, which includes retail outlets such as Great Southwest mortgage and Charter Funding, was scheduled to close more than 300 of their offices and lay off nearly 6000 employees as they faced a credit liquidity crunch of the immense proportion. First Magnus says they were not involved in selling or bundling “subprime” mortgage loans but admitted that a bankruptcy filing was it a real possibility. I’d be inclined to believe that there’s a bubble in the real estate market when the largest privately held mortgage banking operation in the country is unable to make a profit selling $30 billion in loans in the year 2006 alone!
You can read more about it here: http://biz.yahoo.com/ap/070817/first_magnus_shutdown.html?.v=2
Best in Success,
Maria Fee
REMI KNOX, LLC
Trading Financial Futures TM
281-346-0400 BUS | EMAIL MariaFee@REMIKNOX.com
866-871-5914 BUS |
281-346-1300 FAX | WEB www.REMIKNOX.com
Be your OWN BOSS! PART TIME NOTE BROKERING FOR FULL-TIME PROFIT.
Visit http://www.reminote.com/brokernotes.php.
Owner Financing News as of 12/23/2007 A.D.
August 18, 2007
Hello note investor. My name is Maria Fee and I am the principal investor/owner at Remi Knox mortgage brokering company. I would like to welcome you to my blog which specializes in mortgage note information, owner financing and of course the growing of your personal wealth portfolio in the real estate market. I am traveling today but I would like to invite you to look around my web site as well as my blog in order to ascertain for yourself whether I may help you increase your wealth profile. I think you’ll see in no time that I am passionate about creating wealth by way of mortgage notes! Feel free to call me at 1-281-346-0400 or toll-free at 1-866-871-5914.
Basically, working smart is all about wealth creation. Mortgage notes and owner financing can get you there! As a subprime lending markets reel from write-downs and delayed financial reporting, I would like you to know that there’s never been a better time to invest in collateralized mortgage notes!
Allow me to elaborate. Do you want to make more money selling your own home than a conventional real estate transaction can offer? Owner Financing can help you with that.
Is it your wish to have better than average returns on your income producing real estate investments? Note Brokering can help you with that.
If in fact you are interested in increasing your wealth in a very prudent manner, I would like you to give me a chance to convince you that the best way to do that is through mortgage notes. It would be my joy to serve you in this area.
Best in success,
Maria Fee
REMI KNOX, LLC
Trading Financial Futures TM
281-346-0400 BUS | EMAIL Maria@REMIKNOX.com
866-871-5914 BUS |
281-346-1300 FAX | WEB www.REMIKNOX.com
Be your OWN BOSS! PART TIME NOTE BROKERING FOR FULL-TIME PROFIT.
Visit http://www.reminote.com/brokernotes.php.
