Don't Wait...BUY!

Now how did I manage to miss April? Time flies when you are having fun! Right now, the alledged recession and the housing crunch seems to be on everyone's mind. The fed's dropping the rate did not bounce in the favor of interest rates as much as lenders like myself had hoped but we are seeing some relief. Moment to moment rate updates show that we are still on that home loan percentage rate roller coaster.

My advice to you? If you are at all in a position to buy, do it. Don't walk, run to your local lender. Rates will not get lower over the next 4-6 months. In fact they may get higher. And if I am wrong? You can bet they will increase in 2009. What are my predictions? I don't think we are on our way to the 13% rates we saw in the 80's but I do think the days of the low 5%'s are a thing of the past for awhile. Never say never. Credit is an issue with many potential home buyers today.

Lending investors are not as forgiving of credit issues and sub-prime rates have been replaced with FHA programs. It is possible for a first time homebuyer to get into a property with little to no money down with a motivated seller paying closing costs, yes, even FHA. I'd be happy to explain the particulars of this program if you are interested.

Let's not forget the big picture. We are still looking at conventional rates in the low to mid 6% range. These are still great rates. Take advantage of this if you can. Yes, home values are dipping for a bit. But if you plan on making your home purchase a long term investment, you can bet that as the value has dipped that it will again rise.

If you live in the states of Oregon or Washington and I can be of any assistance to you or help you prequalify for a loan, don't hesitate to call me. 541.786.1613 or email me at CBarber@primeres.com. Good luck and it's not as bleak as it seems.

How to Feel Good About Your Mortgage Loan

If you have ever been through or begun a home loan process, you know that it can be daunting and scary. So many new terms to know and sorting out what they all mean can be very intimidating. It doesn't have to be that way. You can find someone to be your advocate and someone who can work for you.

First of all, the mortgage market is not as bleak as the media would have it seem. As a Loan Officer for Lending Tree/Primary Residential Mortgage, I'm here to tell you that even in this traditionally slower market time, our phones are still ringing and homes are still being bought by motivated buyers at a rapid pace. All is not lost. A home investment is still and investment where in the majority of the cases a profit is made on your investment.

To take some of the mystery out of the process, don't have a potential loan officer run your credit right away. Having too many inquiries on your credit report can adversely effect your credit. Be reasonably sure that you are ready to proceed with a loan and that particular loan officer to avoid unnecessary hits to your credit and wasting the time of the loan officer if you aren't ready.

Spend some time visiting with your Loan Officer. Find out where they are located. Ask questions. See how willing your loan officer is to answer your questions and work with you on your particular circumstances. If the loan officer is more interested in "making the deal" than helping you through your home purchasing process, move on. Find someone who is willing to be your advocate from first phone call to beyond your closing.

Be honest about your circumstances. If you know you have struggled financially and have some adverse marks on your credit, come clean early. Your loan officer will know once your credit is ran what your payment history is. If a debt is your spouses but your name is on the account, the debt is yours too. If you have cosigned for a loan for someone other than yourself, it shows on your credit as an outstanding debt. Knowing this will help you be better prepared for what credit report might have to show you.

Be sure to provide more information to your loan officer, not less. And be sure your loan officer is willing to do the same for you. Finding a good loan officer will make you feel comfortable throughout your home buying process and you'll look for that person to do business again. A good loan officer will want your business for life. Not just for the deal.

Happy as a Pig In....

Once again there are changes in my life. Good changes! As my marketing business continues to grow and expand, I am now happy to announce yet another new avenue in my career. I have been asked to and have accepted a position with Primary Residential Mortgage under Lending Tree as a Loan Originator!

I am THRILLED beyond words at my new position. I will continue to build websites and market regionally and nationally. I love my job and am not prepared to leave it. The beauty of this new position is that it affords me to do both.

So please, consider me to assist you in building your business as well as to finance your home or commericial property in the states of Oregon or Washington. And...as always, I'll keep you posted!

Candy Bowman Specializes in Senior Real Estate

Candy Bowman, real estate agent for John J. Howard & Associates has recently earned her Real Estate Specialist for Seniors Certification (CRS).

After attending two and a half days of live class training and completing the certification test, Bowman was recognized as a certified member of the CRS network. In achieving this recognition, Bowman is now specialized in serving the real estate housing needs of the senior citizen community.

“What most seniors do not always realize is that planning needs to begin way before a Baby Boomer or senior needs it,” says Bowman. Bowman makes reference to those who hope to maintain their home, leave a family home to their children as they age, or enter assisted or retirement facilities.

According to Bowman, this planning often needs to take place three to five years prior to a senior actually needing the arrangement to be in place. “The time to plan isn’t when those hard family decisions need to be made,” says Bowman emphasizing that assisting a family now with their options could save money and heartache down the road.

Bowman also stresses that even though you may be looking at retirement doesn’t mean you have to sell your home. “Options are everywhere,” says Bowman. “Anything from Reverse Mortgages to proper estate planning can leave the control in the homeowner’s hands.”

When asked why this was a priority for Bowman to achieve CRS Certification, her answer is simple: “It’s always been important for me to help people,” she says.

Bowman has recently joined the John J. Howard & Associates Real Estate Team located in downtown La Grande. She can be reached at www.CandyBowman.com or call 541.663.9000.