The 30 year mortgage. As American as apple pie. It’s the sacred cow of the real estate finance industry. But, is it also destroying wealth in this country? When you take out a mortgage, they are simple interest. That means that you pay interest on the outstanding principal balance each month. After 10 years on … Continue reading Could $50 Per Month Save Housing?
As I have been saying ad nausem, the real estate market will not sustain its current insane activity. The previous reasons I have stated had to do mostly with economic conditions but now we find the out of the box reason. The Panama Papers and SF’s housing crisis The Panama Papers (can’t keep thinking Pentagon papers) … Continue reading Thanks Putin for Overpaying for a House
Yes. I do think I am the Bernie Saunders of the real estate/mortgage industry. For those new to my prose, I like to tell what I think, feel and see in the market based on a combination of gut and numbers. Sometimes the numbers talk to me and sometimes the brain just feels that something … Continue reading -$1,188,103.00 Last 30 Days
If your client is putting 10% down on a condo purchase, you do not need all the massive amounts of paperwork as you did in the past. These condos just need a limited review (one page of stuff instead of thousands). No more fidelity insurance or budgets either! And, you will still get “normal” rates … Continue reading Condo Financing Just Got Easier
The calendar says 2015. The emails, phone calls and other noise tells me it’s 2007. The radio ads inviting people to flipping seminars are back. Come hear my system so you can make 5, 10, 15,000 per month with bad credit and no money! And the subprime lenders with stated income are all over my … Continue reading It’s Deja Vu All Over Again!
In what could be one of the largest game changing real estate deals in business history in the Bay Area, Google has been talking about a gazillion square feet at Hunter’s Point Shipyard in San Francisco. Yes, Google needs space but are they just trying to leverage their deal in Mountain View or can they … Continue reading San Francisco, Jobs, Google, Housing, YIKES~!!!!
8/1/15 may become the worst day in the history of residential real estate and mortgage banking. That is the day the new CFPB inspired Dodd-Frank disclosure rules come into effect. Because of them, the days of the 30 day close are over. One tiny little move in fees and you wait, one little change of … Continue reading August 1, 2015…a Day You Will Hate Forever
San Francisco real estate prices. A condo under 300 square feet sold for 40% over asking, all cash, quick closing. Questions. Is it dumb? Is it over? As long as there is money, jobs and demand, you betcha it will continue. Follow the link here to read about the property then figure out where else … Continue reading Is it Over or Will it Continue?
Some fun CNBC highlights from over the years. Enjoy!