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Heidesert Mortgage
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Patrice Davis and Greg Davis showing off their new, beautiful home. What a great job by Michelle Perez Arredondo - the super Realtor!
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6/20/17
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Heidesert Mortgage Quote Of The Week... "Work like you don't need the money. Love like you've never been hurt. Dance like nobody's watching." --Satchel Paige, American professional baseball pitcher

INFO THAT HITS US WHERE WE LIVE ... Approaching life with the right attitude is a great thing, and some recent housing market facts ought to help us do just that. The Mortgage Bankers Association Mortgage Applications Survey for the week ending April 28 reported the seasonally adjusted Purchase Index was 4% up from the week before. The March CoreLogic Home Price Index was up for the month, just 2.8% off its 2006 peak. But the property economist at a prominent economic research consultancy pointed out Case-Shiller's latest report shows "the pace of house price gains slowed...with the smallest month-on-month rise since July last year."

If home prices concern you, check out the Real House Price Index (RHPI) from a leader in settlement services. The RHPI measures price changes adjusted for the impact of income and interest rate changes on consumer house-buying power over time. In other words, it's a good gauge of affordability. Guess what. Real house prices are 32.8% below the July 2006 peak, and 9.7% below the level in January 2000. Their chief economist adds, "wages continue to grow and the level of affordability in most markets remains high by historical standards." No wonder Consumer Confidence is reported still at strong levels.

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WOW! Veronica and Mario Gonzalez starting construction on their new home. They are taking advantage of Doug Heide and Evergreen Home Loans - Victor Valley Branch NMLS# 229082 One Step Contruction loan. Congratulations Veronica and Mario Gonzalez
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Heidesert Mortgage Quote Of The Week... "Inspiration exists, but it has to find us working." --Pablo Picasso, Spanish artist

INFO THAT HITS US WHERE WE LIVE ... Home builders appear to be working hard and the results are indeed inspiring. The Mortgage Bankers Association (MBA) reports purchase applications for new homes surged to a record high in March. Their Builder Application Survey pegged those purchase applications UP 23% over February and 6.7% ahead of March a year ago. The MBA tabbed new home sales in March at a seasonally adjusted 670,000 unit annual rate. Their vp of research and economics commented, "developers are finding ways to bring new product on line to help supplement otherwise low inventories of existing homes for sale."

She also noted, "In contrast to the increasing average loan size trend in our Weekly Survey, which reports applications for both new and existing homes, the average loan size for new homes... was unchanged from a year ago." In spite of that larger loan size, the survey for the week ending April 7 reported purchase applications UP 3% overall. Though last year showed the strongest home sales pace in a decade, the National Association of Realtors reported a drop in vacation home buying. But they note investment sales "reached their highest level since 2012 as investors...recognized the sizable demand for renting."
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With Patrice Sneed and Greg Davis at Desert Valley Hospital signing docs. Get well soon Greg so that you can enjoy your new home. Thanks to Mary Dousharm for going the extra mile to notarize. And great job Michelle Perez Arredondo Real Estate extraordinaire, Evergreen Home Loans and our terrific staff!!!
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Heidesert Mortgage Quote Of The Week... "When you have confidence, you can have a lot of fun. And when you have fun, you can do amazing things." --Joe Namath, American football quarterback and actor

INFO THAT HITS US WHERE WE LIVE ... Well, there are some good reasons for us to feel confident about the housing market, so fun and amazing things may be soon upon us. The latest market analysis from realtor.com reveals this spring will be the hottest buying season yet. The median number of days homes are staying on the market is 69, eight fewer than a year ago. And experts predict buying will accelerate, with homes remaining on the market just 22 days as the spring selling season ramps up. The realtor.com manager of economic research says, "we're already in the thick of the most frenzied spring home buying season on record."

There's also good reason to be confident about home buying among the important Millennial generation. A leading provider of loan origination software released a tracking study on that group's activities. The firm's EVP of corporate strategy noted: "Purchase loans are increasing, indicating that Millennials are continuing to enter the first-time homebuyer market." In fact, the Mortgage Bankers Association reported purchase applications up 1.0% for the week ending March 31. Plus, purchase demand is up, as the average loan size for purchase applications set a new record, coming in at $318,200. Seems like amazing things are already happening.
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