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Jessie B
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21% of All Home Sales Last Year (1.13 million)....

Vacation Home Sales up 57% from Prior Year.

Looks like baby boomers prepping for retirement in next 3 -5 years.

Will it continue? What happens to their primary homes when they decide to sell in the future... will there be a flood of inventory?

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Mortgage News...  announced Jan 8th. 2015, HUD has lowered FHA mortgage insurance rates by .5% a year.

This is estimated to save an average of $800 a year for those using FHA loan.


Lenders will be mailing out lots of information regarding this opportunity to refinance.

For you #Realtors and consumers here's is an updated mortgage insurance calculator that shows your savings based on the new FHA mortgage insurance premiums.

HUD news release: http://portal.hud.gov/hudportal/documents/huddoc?id=SFH_FHA_INFO_15-03.pdf
  #mortgagenews   #fhamortgageinsurance   

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Good news for home buyers using a 3.5% FHA loan... you will be able to afford a higher priced home now!

FHA may lower the monthly mortgage insurance by .5% from 1.35% to .85%.  

The difference in the monthly premium will allow home buyers with the FHA required 3.5% down payment to qualify for a slightly mortgage amount.  

This is because the .5% of monthly mortgage insurance can go directly towards the principal & interest payment portion of the FHA mortgage payment.

For most individuals that will mean an increase of $20K - $40K in home price that they will be able to purchase.

Here's a calculator to help buyers figure out how much they can afford to buy which provides FHA options.

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Rents increasing at faster pace than property values due to tight inventory and higher demand.

For many,  buying a home will start making sense going into the new year.

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Real Estate Prices to Increase?

Maybe with mortgage rates hitting new lows & cheap gas…

Homebuyers will feel confident going into the new year & will now be able to afford a little more home than just a few months ago.

This should lead to a good start in 2015…
 
A veteran making $5K a month w/ rates down by .25% can qualify for a $10,000 higher loan than before up to $338K according to this calculator: http://www.va-home-loans.com/how-much-house-can-i-afford-calculator.htm

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10 Hottest Housing Markets

Texas takes a few top spots... not surprising.

LA on the list but affordability still an issue... again, not surprising.

Article indicates that first time buyers may finally start coming back into the market.

Surely, a large part of the first time home buyers are Veterans using VA loans to get into the market with 0 down payment / 100% financing. For Veterans, here's a good mortgage calculator: http://www.va-home-loans.com/va-loan-calculator.htm

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This will get ugly. Mostly in Florida.

In California you don't have to worry w/ exception of possibly some HELOC debt that may come back around.

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Home affordability dropping even with lower mortgage rates.

Continued increase in home prices around the bay area & So. California causing decrease.

Veterans have it a little easier since the debt to income guidelines are more flexible than conventional or FHA home loans.

If your a Veteran, here's a VA loan calculator to help you: http://www.va-home-loans.com/va-loan-calculator.htm

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Got kids?

Have them start learning a 2nd language...  Computer Language!

Make it fun for them to understand the concepts.

MIT Scratch or Google Blockly: https://developers.google.com/blockly/

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Winery in Beverly Hills - $195 Million.
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