TEAM EMPOWERMENT MORTGAGE CHATTER: July 19; REALTORS: You’re Invited To A FREE Exclusive Event; Call To Action For Buyers: FHA Loan Limits 2011; Selling Your House? Waiting May Not Make Sense; Why Do People Actually Buy A Home?

“Whatever you can do, or dream you can, begin it. Boldness has genius, power and magic in it. Begin it now.” -Johann Wolfgang Von Goethe: Was a German poet, playwright, novelist


SPEAKER: Rick Ruby of The CORE Training, Inc.

(Also Zack’s personal coach for the last 2 years)

TOPIC: “How To Turn Buyers Into Closed Transactions And Exceed Your Goals for 2011”

Click on image for more information and to RSVP TODAY!

(Due To Limited Seating You MUST RSVP)


Zackry Cooper Website

Rick Ruby Website

The CORE Training, Inc. Website


Federal Housing Finance Agency (FHFA) has announced Temporary High Balance Loan Limits, scheduled to expires on December 31, 2010, were extended to September 30, 2011.

This is not dictated by case number order date! You will need to have all FHA loans with current high balance loan limits FUNDED BY AUGUST 15th, 2011 to ensure enough time to get the loan insured. RPM will have additional resources dedicated to the loans that are impacted and make them a priority in insuring. We will relay any additional information provided to us.

For mortgage loans originated after September 30, 2011, revised limits will apply. The maximum limit is $625,000 for a 1-unit property in the continental United States, established under the Housing and Economic Recovery Act, and referred to by Fannie Mae as “permanent.”

Informational Material Links Below:

Loan Limits Expiration FAQs

Confirmation of Conventional Loan Limits for 2011

FHA Maximum Conforming Loan Limits

Potential to FHA Single-Family Loan Limits beginning October 1, 2011


There have been some bright spots in the residential real estate market over the last couple of months. Several price indices have reported a stabilization of prices and some regions have even shown small levels of appreciation. This has led some to believe that we may have reached a bottom for home values. We must realize that what we are actually experiencing is a ‘window of opportunity’ as the banks are delayed in bringing certain inventories of distressed properties to the market. Let’s look at what others are reporting:

Bloomberg Businessweek:

“The crux of Simon’s analysis is that the loose lending practices seen during the housing bubble allowed 5 million renters to become homeowners, and that the market is in the protracted process of evicting this group. He believes housing prices will decline 6 percent to 8 percent nationally, with 6 million to 7 million more foreclosures yet to come.”

Yahoo Finance:

“The problem with the real estate market remains excess inventory. Based on Shilling’s research, there are 2 million to 2.5 million excess homes in the country – a supply that will take 4-5 years to work-off. The result: Housing prices will fall another 20% and underwater mortgages will balloon from 23% to 40%, he says.”

Housing Wire:

“Both warmer weather and the drop in distressed sales percentage have contributed to recent home price improvements. However, given the disappointing pace in housing demand recovery, both factors may turn against us in the coming winter and push home prices lower again…

This supply-demand imbalance affirmed JPMorgan analysts’ estimate of a further 4% drop in home prices from the first quarter of 2011 to a new bottom next year.”

DS News:

“Home prices have gotten a little bit of a boost in recent months thanks to a seasonal uptick in market activity. Most analysts, however, expect further declines to characterize the later part of the year and possibly extend into next year, largely because of the huge supply of foreclosures on the market.”

Bottom Line

If you are thinking of selling in the next twelve months, you would probably do much better if you sold your house sooner rather than later.


It seems that every time we talk about real estate today the conversation immediately goes to the financial aspects of buying a home. Where are prices headed? Where are interest rates headed? Should I wait to try and get a ‘better buy’? Should I wait until I can get a ‘steal’?

The odd thing about all these questions is that survey after survey keeps telling us that price is not the reason families actually buy a home. When money is considered at all, it is in light of not paying rent to a landlord. Let’s look at two recent surveys as examples:

National Housing Survey

The top five reasons given in the survey for buying a home, in order, are:

  • It means having a good place to raise children and provide them with a good education
  • You have a physical structure where you and your family feel safe
  • It allows you to have more space for your family
  • It gives you control of what you do with your living space (renovations and updates)
  • Paying rent is not a good investment

The Myers Research and Strategic Services Survey

The top five reasons given in the survey for buying a home, in order, are:

  • Home ownership provides a stable and safe environment for children and other family members
  • Home ownership means the money you spend on housing goes towards building equity, rather than to a landlord
  • Home ownership creates the opportunity to pay off a mortgage and own your home by the time you retire
  • Home ownership creates the opportunity to live in a neighborhood that you enjoy
  • Home ownership allows you the right to decorate, modify and renovate your home as you see fit

Bottom Line

Price dominates conversation when we talk about buying a home. However, when it comes down to it, we actually buy for the same reasons our parents and grandparents did – we want a better lifestyle for ourselves and our families.

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