I can’t think of a better way to celebrate that I’ve somehow manage to blow past Mortgage Porter’s 100th post than a little song and dance!
Happy Friday!
Blown Interview
April 26, 2007 by Leave a Comment
Morgan Brown, the blogger behind Blown Mortgage, has recently added podcast interviews on his site. His most recent interview features Tony Gallegos who is an FHA expert. I am very flattered that Tony mentioned Mortgage Porter as one of his favorite blogs. Check out Tony’s interview (not just because of the Mortgage Porter compliment) to learn more about FHA loans. With the correction of the subprime market, FHA loans are on the comeback.
Watch for my interview from Morgan Brown to appear on Blown Mortgage in the near future (I’ll post a link).
Seattle’s Home Prices Buck the National Trend
April 26, 2007 by Leave a Comment
The Seattle PI reported yesterday that Seattle home prices are still strong (for now).
"The latest figures, from Standard & Poor’s S&P/Case-Shiller Home Price Indices, show that Seattle-area house prices were up 10.6 percent in February from the same month in 2006 and 0.5 percent from January. Both were the largest increases among the indices’ 20 cities — most of which posted declines year-to-year and month-to-month."
I attribute Seattle bucking the national housing trend to our strong economy and employment. In my opinion, Seattle has been behind in appreciation when you compare our city to other "big cities" in the United States. Another factor is our reduced exposure to foreclosures:
"Statistics from the national Mortgage Bankers Association and RealtyTrac, an Irvine, Calif., company, show that the percentage of subprime loans in Washington — those for borrowers with weak credit — delinquent mortgages and foreclosures are lower in than those for the country as a whole."
What does this mean for home buyers?
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Be fully equipped with a strong preapproval letter from your Mortgage Professional. You may need to make several offers before landing a signed purchase and sale agreement. Be ready to pounce when a home you’re interested in is available.
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Try to be flexible with your goals of your next home. Purchasing further out from Seattle or condo may provide you more bang for your buck.
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If you are considering purchasing a home within the next year, meet with a Mortgage Professional now to review your credit and to develop a plan to be in the best position when you are ready to buy down the road.
Banks Don’t Play By The Same Rules
April 25, 2007 by 4 Comments
Thanks to the recent Supreme Court decision, it has been confirmed that mortgage originators who are employed by banks or their subsidiaries, can ignore state licensing requirements that other Mortgage Professionals are required to abide by.
Again…this is nothing new…just a confirmation.
And the Survey Says
April 25, 2007 by 1 Comment
After every closed transaction, I mail my clients a survey to get a read on how they feel their service was from our team. 99% of the time, the responses are very positive.
In today’s mail, I received two surveys that I thought I would share portions of them with you.
"This was a difficult refinance which seemed hopeless at times but Rhonda never gave up. She was always upfront and honest. Excellent communication and service…I received almost immediate response any time I had a question. Thank you!"
The refinance was challenging however, this mortgage just really made sense to me. I’ll have to follow up with more information in a separate post. Here are some bits from the other survey I received today. This transaction was a purchase that recently closed early.
What did you like best about Mortgage Master:
"Rhonda’s speed & professionalism & dedication"
How could we have improved our service to you:
"Impossible"
Comments:
"Rhonda, you are absolutely the best! Thank you!"
So what about the few who are not satisfied? I’ve had two who did mail in surveys in my seven years who were not singing praises. One was unhappy with the escrow company and I tried to get more details from my client…I do want to know whenever there is room for improvement with the mortgage and home buying process. I did pass that survey on to the escrow company.
The other transaction was with a past client who decided to go elsewhere for his home financing instead of returning to me. Just barely over one week before closing, he changed his mind, pulled his loan from the other lender and threw the transaction in my lap. He withheld an addendum to the purchase and sale agreement with various work orders filling the entire page…you don’t think he was purposely trying to keep that from the lender, do you?
Needless to to say, this delayed the transaction from closing in the one week I was allotted and for that, he was unhappy with me! Had the addendum been provided, we might have closed on time assuming he would have provided the documentation to show the work was complete.
I am glad whenever I receive a survey back from clients. The feedback is priceless and it is my goal to have families as happy with me at the end of the transaction as they were in the beginning.
News Flash
April 24, 2007 by 1 Comment
KOMO-4 just interviewed me at my office regarding subprime loans. You can watch the interview tonight during their 6:00 p.m. broadcast.
Update: Here’s a link to the video. Don’t blink…you might miss me!
Back up a moment…
April 23, 2007 by Leave a Comment
What did I do over the weekend? After my lap top decided to act up on Thursday 
afternoon and give me a little scare… we picked up a portable hard drive at Costco.
The Western Digital My Book has been a breeze for even the likes of me to use. And, it’s a relief to have all of my photos (I love taking pictures) and marketing type documents OFF of my lap top…freeing up tons of space. I’ve always been a bit concerned that the photos I’ve been storing on disc may soon be obsolete…just like the floppy.
It does not come with any great manuals…and the web site is overwhelming. BUT CNet’s site had some great tips and reviews that I found VERY helpful.
I’m a happy camper! Now…when my Toshiba Statelite bites the dust, as all lap tops must do one day…transfering all of my data should be much easier.
No Jacket Required
April 20, 2007 by 1 Comment
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