Ch Ch Ch Changes!!! This time for the better!

I feel that the word of the year or the anthem of the last 6 months has been change. With all the increased regulation and processing times I feel that the experience of home-ownership was starting to become a burden versus exciting. So I decided to make some changes that I know will help keep buying a home exciting and fun. Recently, I was able to throw a housewarming for a client, help another move and this is all because I made a change that got me out from behind the desk. Our job is in the field meeting, approving and working with our trusted partners and that was fading. The video below will describe five reasons I am excited to be a Loan Officer in 2010 and how I know this will help me help you!

Costco or 7-Eleven? Can closing fast cost you money?

Many of the homes that are being financed for purchase today are either short sales or they are foreclosures. On the Short Sales in particular you may wait up to six months to get the approval to sell the property as the offer was submitted.  The approval can initially be a verbal approval with the executed contract to follow.

The Good News: You are in contract to buy the home that you wanted.

The Bad News: You have thirty days to close from the initial acceptance and your Loan officer will not get the contract for up to a week. This will give you 20-25 Calender days to close.

The Choice: Due to the limited time that you have been given to meet the contractual terms of the agreement you have been placed in a position to have to choose whether or not this home is worth the Price.

After six months of negotiating an accepted short sale contract and waiting patiently as a buyer to hear the news you now have to decide immediately.

Point to Ponder: If you are in a hurry and you need milk fast do you:

A. Go to Costco

B. Go to 7-Eleven

Second Point to Ponder: Which one of the two costs more for the convenience?

A. Costco

B. 7-Eleven

If you answered 7-Eleven both times you are correct. As a consumer trying to meet the contractual obligation of the short sale terms you have been forced to go to a store that is fast and efficient rather than the store that you may get twice the amount for your dollar. Costco on Saturday Morning is not the fastest place on the planet to get in and out of. You may have to wait in line. Of course we are happy to do so because of the bang for our buck.

Going to 7-Eleven costs you more but because you are eager to get in the home and meet the contract you have chosen to sacrifice your overall well being to meet the standards of the same person that took six months to make a decision. You may be saying about now: Is this fair? My answer is simple Absolutely Not! The worst part is even if 7-Eleven is not fast enough they have the nerve to charge you for making them wait.

In conclusion, I certainly know that not all is fair in love and war. I also now that as a consumer we have the right to choose whether or not we want to accept the terms of the contract. However, it is the same Costco approving the short sale that is saying 20 days should be sufficient to close this escrow so I just don’t care.

Can you get in and out of Costco on Saturday in 30 minutes or less including parking, shopping, purchasing and exiting the lot?

*7-eleven costs more most of the time. This is not always the case. Wholesalers hedge markets. When they do so they may be competitive for the moment but then they are subject to creating Costco like lines. Managing their offered rates help to control the lines. Therefore to keep turn times down rates may increase to decrease the traffic and vice versa.

Where have I been? My first uncut video post explains this!

I just wanted to take 3 uncut minutes of your time to let you know where I have been. I can’t wait to get back to my blogging schedule and providing you the useful information that you have grown accustomed too. Please take a minute to watch my newly constructed YouTube work in progress. Thank you all for your patience while I work to bring you the best Mortgage Information in the easiest ways too understand. After all this is California Home Strategies “Real Estate Strategies We All Can Understand.”