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Is it Over or Will it Continue?

Is it Over or Will it Continue?

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 you want to live! Share this:TwitterFacebookGoogleTumblrLinkedInEmailPrintPocketRedditPinterestLike this:Like...

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More Expensive Mortgages, Sneaky Style

More Expensive Mortgages, Sneaky Style

Rural Development has announced an increase to the USDA guarantee fee for both purchase and refinance transactions that will be effective for all Conditional Commitments issued on or after October 1, 2014. The annual fee, which is paid monthly, for both purchase and refinance transactions will be increasing from .40% to .50%. The upfront guarantee fee will remain at 2%.  So, it means that if you can get through the proctology exam that the underwriting guidelines put a person through now, you are going to pay more because of the people that did wrong behind you. If the idea is to increase sales, let’s give more people the opportunity to buy in. USDA loans are increasing not as bad as the usury rates with the FHA monthly mortgage insurance (currently at 1.55%). FHA should make the financed upfront fee higher and lower the monthly payment.  It is a simple calculation that will add more money to the coffers AND help more people buy homes.   Share this:TwitterFacebookGoogleTumblrLinkedInEmailPrintPocketRedditPinterestLike this:Like...

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Do Not Call, Do Not Call, Do Not Call

Do Not Call, Do Not Call, Do Not Call

The latest in real estate marketing strategy happened to me this morning.  Lucky me! An agent that has been with 5 companies in the last 3 years called me today to ask me about the status of a home on Third Street and am I still interested in selling it. Really?  I’m an agent. I don’t know of a property on 3rd Street that I ever owned. It took him two calls to get it right and he never heard of the federal do not call list. I know one of the strategies in a large red colored franchise is to do calling (and I am sure that many others do the same thing) but at least scrub your lists, train your people properly and never, ever call me. 🙂 If you do receive an unwanted call, here is the link to report them since it will cost the company $11,000 per occurrence. https://complaints.donotcall.gov/complaint/complaintcheck.aspx   Share this:TwitterFacebookGoogleTumblrLinkedInEmailPrintPocketRedditPinterestLike this:Like...

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Contact

I’ll be flying to #PHL now. No phone for 5 hours. Yikes. But email works because of gogo and text works if you have an iPhone with iMessage. When are they going to get all the communications stuff perfect? Share this:TwitterFacebookGoogleTumblrLinkedInEmailPrintPocketRedditPinterestLike this:Like...

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Wharton Radio Today

Wharton Radio Today

I will be a guest on the #Siriusxm #Wharton radio channel’s Real Estate Hour today at 4PM eastern.  We will talking QM implications and other items that can change the real estate market. https://www.siriusxm.com/businessradio Share this:TwitterFacebookGoogleTumblrLinkedInEmailPrintPocketRedditPinterestLike this:Like...

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Should You Buy a House Now?

Here I am on CNBC talking about the housing market and the answer to that question! Share this:TwitterFacebookGoogleTumblrLinkedInEmailPrintPocketRedditPinterestLike this:Like...

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