For Richer or Poorer

Repairs and TRID

An agent called us very concerned the other day.  She said that after a walk through, she had a last minute repair request and was worried that it would affect her close date. 

There is much misinformation and mistaken commentary around this point.  Any changes other than APR, a prepayment penalty (never happens), or a loan product change (rarely happens) will not require a 3 day review. 

The following circumstances do not require a reissue and a 3 day review of a Closing Disclosure (CD):

• Unexpected discoveries such as a broken fridge or a missing stove, even if they require a seller credit.
• Most changes to payments made at closing including real estate commission, taxes, and utilities proration, and the amount paid into escrow.
• Typos found at the closing table.

Constant communication between the borrower, agents, and lender can help ensure a smooth transaction and mitigate any possible delays. 

 

For Richer or Poorer                                                 What zip code are you married to?

In the Sacramento area, we have 90 zip codes, all of which offer different benefits for living in them.  In this latest article published by the Business Journal, they rank areas by their affluence. The factors measured are earned income, investment income, home equity, among other factors.  This article could be of particular interest to buyers that are relocating to the area and may surprise area residents as to what zip codes have a leg up on others.  To access the article –CLICK HERE.

 

Funny Real Estate Photos

The owner of this site has collected some incredibly funny photos of real estate listings.  Whether it was an agent in a rush or that the owner insisted their listing stand out from the crowd, these photos are memorable (but not in a good way) – CLICK HERE.

Tips for Real Estate Success

New Condo Changes

Single family homes and PUD projects have always been a slam dunk with FHA.  Condominium projects have been so close and yet so far for many FHA buyers.  The challenge has always been that FHA would only allow financing on their approved condo projects…and none of them were approved!  How did that work?  Well, it didn’t – until now.  FHA/HUD just announced new guidelines allowing spot approvals on condos, making it easier for financing of those that would gravitate to their price range the most.  For all the details, check out HUD’s Mortgagee Letter 2015-27 or call the Easterbrook Team at Sierra Pacific Mortgage at (916) 850-6050.

 

Not Got a Clue? It May Get Harder to Get One   CLUE (Comprehensive Loss Underwriting Exchange) CLUE is a claims-information report generated by LexisNexis®, a consumer-reporting agency. The report generally contains up to seven years of personal-auto and personal-property claims history.

Currently, as a real estate agent, if you recommend your clients order a C.L.U.E. report when they order their NHD report you have several choices of companies to turn to for this service.

Recently, it has come to our attention that LexisNexis has decided to terminate its distribution agreements with these companies, compelling the consumer to go directly to LexisNexis for their reports. Beginning December 1, 2015 NHD companies will no longer be able to provide the C.L.U.E. Report to customers.  You can read more about the change HERE.

Free Safety App

There are many opportunities for Realtors to step into harm’s way showing homes.  There is a new app that you can download on your smartphone that will alert your predetermined monitors if there is a problem while you are out and about. – CLICK HERE.  Here’s another great video on personal safety with some simple safety steps that could affect your personal safety – CLICK HERE.

 

Tips for Real Estate Success

Genny Williams, business coach offers some practical advice to make a 6 figure + income in real estate.  As you are creating your goals for 2016, maybe work in a few of these things or accentuate what you are already doing - CLICK HERE.

The Bank of Mom & Dad!

The Bank of Mom & Dad

For young adults looking to purchase a home for the first time, the Bank of Mom and Dad has grown increasingly more important, as many first time homebuyers look to their parents for down payment assistance. The share of first time buyers needing assistance from their parents has increased over the past few years due to the rise in home values, slow income growth and tight credit standards and the Survey of Household Economic and Decisionmaking (SHED) upholds this idea. The SHED asked homeowners to identify the sources of funds used for their down payment when they purchased a home and found that the use of loans and gifts from family and friends increased from 8 percent in 2007 to 21 percent in 2009, but has dropped to 13 percent in 2014.  With the demise of the CHDAP/FHA combo, we expect the use of family funds to rise significantly through 2016. 

More Rental Trends

A new Harvard study points out how the rent vs buy decision is becoming even more skewed towards buying as rental inflation continues to increase. The number of US households that spend at least half their income on rent could increase 25% to almost 15 million over the next decade. Note that the homebuilders are pretty much all venturing into multi-family housing as well as single family, which should alleviate this problem at least to some extent. We have had a production deficit for single and multi-family construction for several years, prices keep rising, and yet housing starts remain at about 75% of normal levels (ignoring the boom and bust years).

With the increase of renters converting to buyers, it is so important to know financing options early.  Refer your buyers to us for a pre-purchase evaluation.  We can get them on the right path so that when they are ready (i.e. - their tax return coming in), they will have planned and be ready financially and in the right frame of mind to purchase. 

Finishing & Starting Strong

Last week we talked about taking stock of your life.  Now it’s time to start making your launch pad  to rocket into 2016.  Here is an article of 5 effective ways to wrap up the year and use your momentum to launch into the New Year – CLICK HERE

To Be or Not To Be?-That is the question.

To Be Successful, Learn From the Best

Some of the most successful people in history share their lessons – CLICK HERE.

Holding an Open House? Don’t Make These 7 Huge Mistakes

If you’re selling your home for the first time, you might think of the open house as the point at which your Realtor® waits until you leave, turns into a magician and, with a flick of the wrist, completely transforms the place into something out of Bravo’s “Million Dollar Listing.”
But here’s the truth of it: Your agent isn’t practicing wizardry on the side. And you’re not responsibility-free when it comes to the open house.
In fact, even though you’re not present for the open house (and you never, ever should be, if you want to sell the home), there are still quite a few ways that you can screw it up—and drive away potential buyers.
These seven things will, according to our experts, destroy your chances of a successful open house—and, potentially, the home sale. Are you guilty of them?

1. Leaving your pets behind

To Read The Entire List Click Here!


To find a realtor we trust or discuss your home buying needs contact The Easterbrook Team Today!
916-850-6050 easterbrooktea@spmc.com
John Easterbrook 916-224-7653 or Patty Aguon 916-833-5063


We Make Your Loan Process Easy!

Market Power Webinar Series

Sierra Pacific Mortgage wants to invite you to join us for our December “Market Power” webinar series where we will cover who the 2015 homebuyers and sellers are.

Sierra Pacific is kicking off this series on December 11th (12:00pm PST) with NAR’s Jessica Lautz. She will be discussing: who today’s homebuyers are, how they are financing, and what debt is holding them back.

We will continue the series on December 15th (11:00am PST) with MGIC’s Vance Edwards who will be discussing: recent industry trends, how to help first-time homebuyers, and opportunities to build successful relationships

To register for the December 11th webinar, click here: http://bit.ly/1Tjge13

Tor register for the December 15th webinar, click here: http://bit.ly/1XFcsAf

This webinar is open to all industry professionals. Please feel free to share these registration links with anyone you feel would be interested!

Tell Your Home Buyers: The Bargains Are Now

For home buyers chasing a bargain, they may want to act fast. Closings in January provide the best discount for home buyers, according to Lawrence Yun, the chief economist for the National Association of REALTORS®, in his latest column at Forbes. That means buyers can get the best deals when they get a home under contract around December, Yun writes.

Read more: Why Buyers Need to Buy That New Home Now

From peak price in August and September, home prices decline by 0.51 percent by January closings, according to the Case-Shiller index. On a typical home price of $220,000, that discount could equate to about $1,122, Yun writes.
“The seasonal decline is not all price depreciation of homes” in winter, Yun notes. “A good portion of movement is driven by a higher proportion of lower priced and smaller-sized homes getting sold during the winter months. The reason for this is that families with school-aged kids are generally not in the market during the winter because they do not want their kids to be disrupted during a school year, and it is the families with kids that generally require the larger homes that carry higher prices.”


To Read The Entire Article Please Click Here!


To purchase your dream home or investment property or just do a refinance before the rates increase contact The Easterbrook Team Today!!!


916-850-6050 or email easterbrookteam@spmc.com


John & Patty make your loan process easy!

9 Ways to Stay Warm This Winter Without Turning Up the Heat

The chill will be here before you know it—or, depending on where you’re reading this, it’s already arrived with a scary vengeance. Now you have three options: Crank up the thermostat, up your layering game (and risk looking like the Michelin man), or search for other types of home heating products to keep you and the family toasty.
Here’s the good news: There’s a slew of products that can warm your home in an array of astonishing ways, from heated rugs to countertops to driveways (no more shoveling snow!). Here’s a sampling of the innovative options.

Heating panels

To Read The Entire List Please Click Here!




The Easterbrook Team is here to Make Your Loan Process Easy!  Contact Us Today!
916-850-6050 or email us at easterbrookteam@spmc.com


John Easterbrook or Patty Aguon are always available!

4 steps you should never skip when screening potential tenants

A landlord’s worst nightmare is a tenant that he or she has to evict; it’s a costly and drawn out process with limited upside. Troublesome tenants are a headache best avoided, and the easiest way to do that is to key in on the most important steps of your tenant screening process.

Troublesome tenants are a headache best avoided.

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Once you have a well thought-out process set up, you’ll be able to streamline it and save time without compromising the quality of the tenants that you accept into your rental property.
1. Put everything in writing


To Read The Entire List Click Here!


To consider refinancing your primary  home into an investment house and purchasing a new primary residence call The Easterbrook Team Today!


We make your lending process easy!


John Easterbrook & Patty Aguon
916-850-6050
EasterbrookTeam@spmc.com

Fed's Announce in December

Tragic world events often lower our interest rates. Today was no exception. Don't expect a lasting drop, however. Bond traders are expecting a rate increase in December and we'll have a bumpy ride in rates until the Fed makes a decision in December. If you are thinking of financing, it's more important than ever to have a lender with up to the minute rate updates - it can save you hundreds of dollars.


Call The Easterbrook Team Today at 916-850-6050 or email easterbrookteam@spmc.com

TRID! In a Nutshell

Tips for Sellilng Your Home this Winter!

Selling Your Home This Winter? You Can Still Make Your Yard Pop

Selling your home in the winter is hard enough without snow.
Add some frozen tundra or gray-brown slush, and you might be tempted to put that “For Sale” sign away until spring, when budding flowers and lush lawns entice buyers on their own. But waiting isn’t an option for everyone. If a job transfer or family circumstances have you on a tight timeline, you might be stuck trudging through the wintertime sell.
Don’t lose hope—winter can be a fabulous time to sell if you know how to capitalize on the market. High on the priority list: Know how to make your home stand out from all those other sad, cold houses on the block.
Winter landscaping is far from an oxymoron—it’s a necessity. Here are some easy solutions to improve the appearance of your snow-covered yard this winter.

Put in the work

Before you throw up your hands and call it a lost cause, remember this: To achieve a winter wonderland of a yard, the most important ingredient is some good old-fashioned sweat equity.
“Simple yard maintenance can go a long way,” says Steve Firlit, president of Firlit Landscape Design in Rochester, NY.
If the leaves are still falling, get out your rake; if it’s winter, make sure to neatly shovel your sidewalks, porch, and driveway. And don’t neglect your bushes and shrubs during the cold months—pruning them occasionally gives the landscape a “tidier, neater look,” Firlit says.
“If you’re making the effort to sell the house, put in a little bit of elbow grease,” he says. “You want to show off your landscaping on the front of the house.”

Dress up your garden beds

Your beds may not be filled with flowers, but that doesn’t mean they should look dreary. While adding mulch won’t help plants grow when the ground is frozen, it will give your garden a visual makeover and help you catch a buyer’s eye.
Firlit recommends re-edging your garden beds and giving them a light coating of mulch, covering up dead material and making the landscaping pop.
“It gives the appearance that the planting beds are kept up and neat-looking,” he says. “That goes a long way.”


To Read the Entire Article Please Click Here!


To discuss your home buying options or refinance needs call The Easterbrook Team Today!
916.850.6050 Easterbrookteam@spmc.com

An old-school tactic to take your real estate game to the next level

You had everything set up perfectly. Light music played throughout the house and trays of hors d’oeuvres were set strategically next to chilled bottles of white wine to compliment the occasion.

The ad listings you put up online were thoughtful and succinct. But at the end of the day, no one showed up. No leads on the sale, and now you’ve just got a lot of nice cheese in your fridge. You ask yourself: What happened here?
Chances are if you’ve sold homes before, this has happened to you at least once.
Even if the housing market you’re trying to sell in is pretty hot, getting the word out about a property can be tough. Listing websites can get cluttered with dozens of listings in a neighborhood — many of which are paid promotions — and unless your house stands out, it can easily get lost in the fuss.


To Read The Entire Article Please Click Here!


To discuss your home buying options or refinance needs call The Easterbrook Team at 916-850-6050.

Based in Folsom, California, Sierra Pacific Mortgage has 144 offices nationwide. The Easterbrook Team at Sierra Pacific is associated with the #1 office in the nation for SPMC for the 3^rd month in a row!  We want to thank you so much for the support.  Come by and visit our office at 806 Bidwell Street in Folsom.  Keep the loans coming and we’ll keep closing them at lightning speed with a positive, smooth, and transparent experience.  We are TRID ready! 

The Federal Open Market Committee Leaves Key Interest Rate Unchanged

It was a 9-1 vote
They down played global weakness, which was one of the main reasons for skipping a rate hike in Sept
They cited a slowdown in the labor market and that measures of inflation are below their target rate.
They said the economy continues to grow at a "moderate" pace.
This is statement was artfully crafted to leave the door open for a December rate hike but did not telegraph one.






Now is the time to refinance or purchase a home or second home.  Call The Easterbrook Team Today!


916-850-6050 easterbrookteam@spmc.com


John Easterbrook NMLS #226555
916-224-7653


Patty Aguon NMLS# 994635
916-833-5063

Homebuilder confidence hits 10-year high, again

The nation’s homebuilders’ confidence in the market for newly constructed single-family homes continued rising in October, to a level not seen since before the housing crisis began.
The good news comes from the latest edition of the National Association of Home Builders/Wells Fargo Housing Market Index, which rose three points in October to 64.




To Read the Entire Article, Click Here!


To find out what you can qualify for to start your homebuilder project give us a call. 


The Easterbrook Team
John Easterbrook
916-224-7653
NMLS#226555


Patty Aguon
916-833-5063
NMLS#994635


Easterbrookteam@spmc.com

Infographic: What the real estate industry needs to know about millennials

According to the U.S. Census Bureau, Millennials now number 83.1M – more than one quarter of the nation’s population. As the largest demographic cohort in America, Millennials are a powerful buying force and brands are vying for their attention. They are the largest source of new demand for rental housing and represent 32% of the U.S. home buying market and 68% of first-time home buyers . As such, their preferences will greatly impact the economy and shape the residential real estate market, including how homes are built and financed.
While Millennials are key to the future of housing demand, the Great Recession has left them at a financial disadvantage and they are delaying key life milestones, such as homeownership, marriage, and having children. Economic challenges, such as rising student loan debts, stagnant wages, a competitive job market, rising rents, and high price-to-income ratios, have made it difficult for Millennials to save and/or qualify for a home. Despite their economic and financial challenges, Millennials are optimistic about their future and aspire to own a home - 84% consider a home purchase a good financial investment.
As digital natives, Millennials are the most tech-savvy generation that advertisers have targeted. They demand instant access to product information, price comparisons, and reviews and are turning to trusted brands that offer high quality, transparency, and convenience at the lowest cost. They are also adopting new approaches to finding a real estate agent, searching for their dream home, and home finance.
The infographic below shares various characteristics of Millennials and what they value in the home buying and selling experience. It also highlights their untapped demand for homeownership, which brings great opportunities for brands and those in real estate that are strategically positioned to serve them
- See more at: http://www.upnest.com/1/post/what-the-real-estate-industry-should-know-about-millennials-infographic/#sthash.lVQNlND1.dpuf




Based in Folsom, California, Sierra Pacific Mortgage has 144 offices nationwide. The Easterbrook Team at Sierra Pacific is associated with the #1 office in the nation for SPMC for the 3^rd month in a row!  We want to thank you so much for the support.  Come by and visit our office at 806 Bidwell Street in Folsom. 


John Easterbrook-NMLS 226555   Patty Aguon-NMLS 994635


Call us at 916-850-6050 for your purchase and refinance needs!

5 Things to Consider When You Move to a New City

Moving can be an exciting opportunity to experience new things, but it’s a good idea to look into some details about your potential new city before calling it home. Many cities have very different price tags—from international capitals such as Prague to London and even between those in the same state such as Los Angeles and San Francisco. So what does cost of living really mean? What else will affect your future if and when you move to a new place? Check out some of the factors you need to consider when comparing city experiences.

1. Cost of housing

Apartment and home costs can vary significantly, and some cities are friendlier to renters. If you are thinking about buying a home and getting a mortgage in your new location, it’s important to look at what other homes are going for and what they have to offer. (You can calculate how much house you can afford.) Your credit score is a major factor in the interest rate you’ll be approved for on the loan, so be sure to keep an eye on your credit in the months before applying. You can check your credit scores for free every month on Credit.com.

2. Basic needs

Housing is often the biggest, but not the only, expense you will face in your new city. The price of basic utilities, health care, and even groceries can vary greatly between places. Some goods are also more or less available depending on where you are located. Finally, it’s important to factor in the cost of transportation. Is there public transit? Can you walk to work? Do you need a car? This can make a big difference in your monthly costs.

To see the next three reasons click here!

Based in Folsom, California, Sierra Pacific Mortgage has 144 offices nationwide. The Easterbrook Team at Sierra Pacific is associated with the #1 office in the nation for SPMC for the 3^rd month in a row!  We want to thank you so much for the support.  Come by and visit our office at 806 Bidwell Street in Folsom.   


Call us today! 916-850-6050 or email: easterbrookteam@spmc.com


John Easterbrook-NMLS 226555  Patty Aguon-NMLS 994635

The Easterbrook Team

What You Need To Know Before You Knock Down A Wall In Your Home

I would like to remove the two corner walls in my kitchen that are common with my living and dining room. This will allow me to install more cabinets and a countertop with a bar to eat at. The entire house will seem more open. Can the walls be removed? What’s involved? Who does this work? Do you think the average homeowner can successfully tackle a job like this? — Angel G., Dover, Idaho
I used to do remodeling work of the sort you envision. In the process I made more than one homeowner’s wildest kitchen remodeling dreams come true. You’ll not believe how taking down one or two walls can completely transform a space. Your smallish kitchen will seem triple the size once this job is complete.
The simple answer to your question is yes, the walls can be removed. The complex answer is the one about what’s involved in doing this. You need to determine what’s inside each of the two walls and whether one or both are bearing walls.

Based in Folsom, California, Sierra Pacific Mortgage has 144 offices nationwide. The Easterbrook Team (John Easterbrook, Patty Aguon, Lorae Oliver, and Kelly Mickelson) at Sierra Pacific Mortgage Corporation is associated with the #1 office in the nation for SPMC for the 3^rd month in a row!  We want to thank you so much for the support.  Come by and visit our office at 806 Bidwell Street in Folsom or call (916) 850-6050.

To Read The Entire Article Please Click Here!

2015’s Best & Worst Cities for California Families

The famous Gold Rush that drew in legions of economic hopefuls to California in the mid-19th century ended not too long after it started. Nonetheless, a stream of new arrivals flowed incessantly into the aptly nicknamed Golden State, solidifying its spot on the record books as the most populated U.S. state.
So why do people from all over the U.S. and abroad flock to California? Well, it’s rich in square footage, for one, so there’s plenty of breathing room for newcomers. And while few are bound to strike gold in the literal sense, big dreams are known to come true in prominent areas of California like Hollywood and Silicon Valley.
Besides its appeal to actors and entrepreneurs, however, the state also boasts the biggest economy in the U.S. and the seventh largest globally, abundant natural and cultural diversity, year-round balmy weather in its lower half and some of the best universities in the world. Add to that the state’s leadership in implementing a comprehensive paid family leave program in 2004. All of these qualities combined make California a great place for families with roots on its soil or those seeking to adopt the state as their permanent home.
But because it’s not all moonlight and roses everywhere in California — or in terms of particular factors such as public K-12 education and housing affordability — WalletHub analysts searched for the Golden State cities that are most conducive to family life. We compared 240 cities in total across 22 key metrics. Our data set ranges from the number of attractions to the number of pediatricians per capita to unemployment rate. You can find the results, additional expert commentary and a detailed methodology below.

Based in Folsom, California, Sierra Pacific Mortgage has 144 offices nationwide. The Easterbrook Team (John Easterbrook, Patty Aguon, Lorae Oliver, and Kelly Mickelson) at Sierra Pacific Mortgage Corporation is associated with the #1 office in the nation for SPMC for the 3^rd month in a row!  We want to thank you so much for the support.  Come by and visit our office at 806 Bidwell Street in Folsom or call (916) 850-6050.

To Read The Entire Article Click Here

How to Improve Your Cellphone Signal at Home

It’s not just fancy new high-rises that can have spotty cellphone service. Dropped calls and slow data can be caused by everything from the construction materials used in a building to topographical obstructions like hills or mountains. Here are some ways to improve cellphone reception, whether you live in the basement of a brownstone, in a penthouse of a prewar apartment building or in a house deep in the country.

Get a Personal Cell Site

If your cellphone doesn’t work inside your home or even when you step outside the building to make a call, you might consider a femtocell. Often described as a mini base station, this small wireless device connects to your carrier’s network via your home’s broadband connection, enabling you to make calls and send data, usually between 3,000 and 5,000 square feet from where it is placed. Devices like AT&T’s MicroCell and Verizon’s Network Extender cost between $150 and $250.

Use Wi-Fi

If you have access to Wi-Fi, you can make calls and send text over the Internet using apps like Viber and Skype at no charge, so long as the person you are calling or messaging also has downloaded the service. T-Mobile, AT&T and Sprint also support Wi-Fi calling.

To Read Even More Tips Click Here!

Based in Folsom, California, Sierra Pacific Mortgage has 144 offices nationwide. The Easterbrook Team (John Easterbrook, Patty Aguon, Lorae Oliver, and Kelly Mickelson) at Sierra Pacific Mortgage Corporation is associated with the #1 office in the nation for SPMC for the 3^rd month in a row!  We want to thank you so much for the support.  Come by and visit our office at 806 Bidwell Street in Folsom or call (916) 850-6050.

3 Moving Hacks So Smart, Even MacGyver Would Be Proud

When it comes time to move from the old place to the new one, everyone could use a few handy moving hacks … even MacGyver.
Sometimes, there are things about moving that we don’t consider until it’s too late: duct tape, bubble wrap, etc.
We’ve got your back, so you’re ready when you’re hit with the unexpected. We’ve got a list of moving hacks here that would make even MacGyver say, “Hey! I never thought of that!”
Moving can be a headache, and no one likes it—but with a few good friends and a few handy tricks, you might make MacGyver proud.

1. Snacks as Moving Hacks

Not only are snacks like Pringles and popcorn tasty, they can also come in seriously handy when it comes time to move.
Once you’ve polished off the chips, those Pringles cans are indispensable for packing up pens, pencils and the conglomeration of stuff in your “junk drawer.” These handy cans can hold a number of loose items that would otherwise end up rolling all over of the floor of your moving truck.
And when you run out of packing peanuts or bubble wrap, good ol’ fashioned popcorn—which is also dirt cheap—is a terrific substitute. Pop a few kernels and use it to fill up the empty space in your boxes of fragile items.

2. Stretch It!

When you’re carrying stuff down to your truck, going in and out of the house, few things are as annoying as having the door slam on you over and over—potentially even locking you out of the house!
Your best bet to fix that problem? A simple rubber band. Hook one end over the inside knob, turn the knob so it’s in the “open” position, and then you twist the band in an “X” over the latch and hook the other end to the outside knob.
Rubber bands also come in super-handy for keeping small boxes closed or binding clothes hangers together by their hooks.

3. Plate It Up

When you’re packing up your kitchen, you have to be extra careful with plates and glasses, so they don’t get broken en route to your new home. Sure, you could buy those foam squares that are meant to separate your plates and keep them safe, but that can be expensive.
Instead, buy a party pack of foam plates at your local grocery store. They cost just pennies, and they’ll protect your dishes better than foam squares or newspaper.
And when you get to your new place, you also will have something to eat off of while you’re unpacking.
http://www.realtor.com/advice/3-moving-hacks-smart-macgyver-proud/






Contact The Easterbrook Team For Your Home Loan Needs!
We Make The Loan Process Easy!
916-850-6050 Easterbrookteam@spmc.com

Mortgage apps skyrocket on lower interest rates

Mortgage applications increased 13.9% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Sep. 18, 2015.
The previous week’s results included an adjustment for the Labor Day holiday.
The Market Composite Index, a measure of mortgage loan application volume, increased 13.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 26% compared with the previous week. The Refinance Index increased 18% from the previous week. The seasonally adjusted Purchase Index increased 9% from one week earlier to its highest level since June 2015. The unadjusted Purchase Index increased 20% compared with the previous week and was 27% higher than the same week one year ago.
“We saw significant rate volatility last week surrounding the FOMC meeting, and rate declines toward the end of the week likely drove applications from both prospective home buyers and borrowers looking to refinance. The 30-year fixed rate remained unchanged over the week even though there was substantial intra-week fluctuation, but we saw rate decreases in other loan products like the 15-year fixed, 5/1 ARM, and 30-year jumbo,” said Mike Fratantoni, MBA’s Chief Economist.
The refinance share of mortgage activity increased to 58.4% of total applications from 56.2% the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 6.9% of total applications.


To Read The Entire Article Please Click Here!




To discuss your home buying or refinancing needs call The Easterbrook Team at 916-850-6050.


John Easterbrook NMLS# 226555
916-224-7653
easterbrookteam@spmc.com


Patty Aguon NMLS# 994635
916-833-5063
easterbrookteam@spmc.com


Sierra Pacific Mortgage Company
Bidwell Branch
806 Bidwell Street
Folsom, CA 95630

Size Advantage

Based in Folsom, California, Sierra Pacific Mortgage has 144 offices nationwide. The Easterbrook Team (John Easterbrook, Patty Aguon, Lorae Oliver, and Kelly Mickelson) at Sierra Pacific Mortgage Corporation is associated with the #1 office in the nation for SPMC for the 3^rd month in a row!  We want to thank you so much for the support.  Come by and visit our office at 806 Bidwell Street in Folsom or call (916) 850-6050.

Is It Time to Downsize? Ask Yourself These 4 Questions First

When is the right time to “rightsize” to a home that’s better suited to your needs? Well, if you’re in the 60+ crowd (or have a parent in that demo), there are plenty of things that can go into that decision. Maybe you’re finding yourself in a (more or less) empty nest. Maybe you want to (finally!) get serious about retirement planning. Maybe all that maintenance on your current home is more than you can or want to handle. Or, heck, maybe you just want to simplify your life.
Whatever the scenario, you’ll find that you have plenty of company. The U.S. Census Bureau’s population projections forecast that the number of Americans aged 65 and older will more than double by 2030, increasing from 35 million in 2010 to an estimated 72 million.
Of course, getting older doesn’t mean you have to slow down or compromise on the lifestyle you want. It just means you have to make informed, calculated decisions on how best to achieve it. And that’s especially true when it comes to homeownership.
So if you’re thinking about downsizing, ask yourself these questions first:

Q: What kind of lifestyle do I want after I downsize?

For some folks, it’s a matter of living a simpler life focused on family. Some might want to cross off travel destinations on their bucket lists. Some might want a low-maintenance community with high-end upgrades and social events. Decide what you want to achieve from your move first, and you’ll be able to better narrow down your housing options.
Alex Haigh, a Realtor® with Illustrated Properties in Stuart, FL, says most folks come to South Florida for the warmer weather and amenities, and he’s seeing more seniors who are still working—because they enjoy it or want to have an extra cushion in their budgets.
Debra Whitfield, a Realtor in Charleston, SC, who specializes in working with seniors, sees her older clients making two types of moves.
“The first move are retirees looking to enjoy their freedom, so they come down to Charleston to find active adult communities where they meet like-minded people that they can befriend easily,” Whitfield says. “The second comes after retirees have enjoyed their freedom for 10 years or so and they decide to move one last time to live closer to family to have the physical, emotional, and spiritual support they need.”

———

Q: What should my buying budget look like? 

If you’re planning to retire soon or have already entered those coveted golden years, you’ll likely be on a fixed income. Downsizing might net you a decent profit, especially if the home you’re buying next costs considerably less than the one you’re selling. Consider other expenses as you age: medical bills, health and life insurance, travel, estate planning, final expenses, and home maintenance. The common rule of thumb: Spend no more than 30% of your monthly income on housing. But in theory, it should be a lot less if you’re downsizing.






To Read This Entire Article Please Click Here!




To discuss your home buying options please give us a call at 916-850-6050. 


The Easterbrook Team with Sierra Pacific Mortgage
806 Bidwell Street
Folsom, CA 95630


John Easterbrook NMLS#226555
916-224-7653
easterbrookteam@spmc.com


Patty Aguon NMLS#994635
916-833-5063
easterbrookteam@spmc.com

The Six Most Common Open House Mistakes

One of the key factors to a successful career in real estate is hosting successful open houses. They provide an opportunity to expose buyers to homes, grow your client database and expand your business. However, many agents make crucial mistakes when conducting these events. To learn more about the worst kinds of errors, we spoke with two experienced agents, Frank Montro of Frank Montro Homes and Connie Tomlinson of Realty Executives.
1. Not Reaching Out to Potential Clients One of the most common mistakes real estate agents make at open houses is thinking that success means just selling the house. With dozens of people walking through the home, connecting with potential future clients is often more important than trying to close a deal on the house. “Most people don’t walk into an open house and whip out their checkbooks,” say Montro. “Real estate isn’t a transaction business; real estate is a relationship business. You’re looking to meet that one person who gives you four or five referrals. If you sell a house, and you do not get two, three, four, five referrals out of it, then you’re not selling. You’re just handling a transaction.” Tomlinson agrees, adding that the people walking through could serve as free advertising. “If you get multiple buyers through who show interest, they could spread the word that it’s a great house, and get that exposure out there.”
2. Doing Minimal Cleaning Cleanliness is paramount. But that doesn’t just mean wiping down the counters. The front lawn, the first thing potential buyers will see, should be trimmed and mowed so that people are excited to walk in. Indoors, everything should be spotless. “It’s amazing how important it is to have a clean house,” says Montro. “Nothing turns somebody off faster than to walk into a house that’s dirty.” Buyers have sharp eyes, so do not forget to double-check the nooks and crannies where dust or dirt might have built up. A solid understanding of the house will help with this, says Tomlinson. “You need to know the house, and go through the house ahead of time.” - See more at: https://chicagoagentmagazine.com/the-six-most-common-open-house-mistakes/#sthash.eo838ZKp.dpuf




To have a superior recommendation for a listing or buying agent please give The Easterbrook Team a call! 


The Easterbrook Team
916-850-6050
Easterbrookteam@spmc.com


John Easterbrook-NMLS# 226555


Patty Aguon-NMLS#994635

U.S. Named Hottest Global Housing Market

In a survey of 14 countries, the United States emerged on top as the hottest market for global residential property, according to real estate advisors Savills. Savills researchers analyzed factors like population growth, rising wealth, and limited housing supply to rank the top picks for investors worldwide and which markets offer the potential for the highest price increases over the next five years.

NAR's International Buying Report: Foreign Buyers Spend More on U.S. Real Estate

The United States showed the most promise for highest returns for investors. Home prices are up about 30 percent from their 2009 downturn, according to the company. The survey singled out San Francisco, in particular, as having one of the highest growth potentials, ahead of New York, Los Angeles, and Miami.
According to Savills researchers, here are the countries that ranked the highest as having the most promise worldwide for residential investors:

1. United States
2. United Arab Emirates
3. Singapore
4. United Kingdom
5. Spain

http://realtormag.realtor.org/daily-news/2015/09/16/us-named-hottest-global-housing-market#sf13155028




Contact The Easterbrook Team today for your home buying and refinancing options.
916-850-6050*806 Bidwell Street Folsom, CA 95630*Sierra Pacific Mortgage


John Easterbrook-NMLS#226555-916-224-7653
Patty Aguon-NMLS#994635-916-833-5063


Easterbrookteam@spmc.com

5 tips to protect sellers’ homes during a showing

With strangers wandering through the house, these precautions will make your sellers feel more comfortable


Takeaways:

• Encourage the sellers to hide any valuables during a showing, including medication.
• Hide personal photos that show the homeowners’ faces.
• Make sure the sellers lock all doors except for the primary entrance where visitors will be entering.

There is a lot that goes into selling a home, and many homeowners often feel overwhelmed throughout the process. As a real estate agent, it’s your responsibility to make them feel at ease.
Homeowners might feel concerned about leaving their home during a showing — and rightfully so. Depending on the showing, there could be hundreds of strangers walking in and out of their home.
It’s easy to get caught up in making a home look perfect for a showing, but it is just as important to help clients keep their belongings safe while their home is on the market. There are things that both the agent and homeowners can do to stay safe.


It’s vital to help clients keep their belongings safe while the home is on the market.


To Read The Entire 5 Reasons in Detail Please Click Here!






To discuss your home buying options or refinance needs call The Easterbrook Team!
916-850-6050* 806 Bidwell Street Folsom, CA 95630*Sierra Pacific Mortgage


John Easterbrook-NMLS# 226555-916-224-7653
Patty Aguon-NMLS#994635-916-833-5063


EasterbrookTeam@spmc.com

Fed Keeps Interest Rate Steady, Preserving Job Growth

The Federal Reserve announced on Thursday that it is keeping its benchmark interest rate at or near zero, allowing job growth to continue unhindered.

The Fed’s federal funds rate -- the interest rate the Fed charges for banks to lend to one another overnight -- will remain at target rate of 0.0-0.25 percent, where it has been since December 2008 at the height of the financial crisis. The Federal Open Market Committee (FOMC), the central bank body charged with adjusting key rates, will have its next chance to adjust the influential interest rate when it meets again on Oct. 27 and 28.

By leaving the key interest rate untouched, the Fed is deliberately maintaining economic demand by preserving the current low cost of credit for consumers and businesses. If the Fed had raised rates, it would lower demand for goods and services, which in turn would reduce demand for workers and slow job growth. Fewer available jobs means less competition for workers, limiting wage growth.

The decision to postpone a rate hike was not unexpected. Some Fed officials have been indicating for weeks that fears about China and other emerging markets that spurred August’s stock market losses were giving them pause about a September rate hike. William Dudley, president of the Federal Reserve Bank of New York, expressed those concerns in remarks he made on Aug. 26, calling a September rate hike “less compelling” than it had been in the weeks prior.

The news will likely reassure anxious investors and prompt stock prices to rise. It guarantees another month without more expensive credit and the dampening effect it would have on trading, however minimal. 


To Read The Entire Article Click Here!






Now is the time to refinance if you have not done so in the last 6 months.  Call us Today!


The Easterbrook Team
916-850-6050
NMLS# 22655 & 994635
John Easterbrook & Patty Aguon


20+ years of experience and knowledge in underwriting!

CalHFA Changes & Updates

Based in Folsom, California, Sierra Pacific Mortgage has 144 offices nationwide. The Easterbrook Team (John Easterbrook, Patty Aguon, Lorae Oliver, and Kelly Mickelson) at Sierra Pacific Mortgage Corporation is associated with the #1 office in the nation for SPMC for the 3^rd month in a row!  We want to thank you so much for the support.  Come by and visit our office at 806 Bidwell Street in Folsom or call (916) 850-6050.

How to Buy and Sell a Home at the Same Time—Without Losing Your Mind

Ah, to be a first-time home buyer again: How easy it was to buy a home when you weren’t carrying another mortgage on your back!
If you’re looking to graduate from first-timer to repeat buyer, you know things are about to get much trickier. Unless you’re a bona fide house collector, you’ll have to sell your home in order to buy anew—adding a whole separate layer of anxiety to what you already know is a stressful home-buying process.

Please, Mr. Postman

                           

In an ideal world, you’d buy a new home, move, and then, and when all the dust settles, deal with the turmoil of selling. But for most people, that’s totally unrealistic. Not only does it cost significantly more, since you’ll be paying two mortgages, but sellers might be quick to judge if you’re holding on to your current home.
Drew Snyder, a Realtor® with Snyder Sutton Real Estate in Topanga, CA, says one of his clients had difficulty getting sellers to “take them seriously unless the house was on the market or in escrow. As soon as we put it on [the market], they were considered as serious buyers.”
You can do this! If selling and buying simultaneously is the only way to go, here’s what you need to know to make sure both processes go as smoothly as possible.

Know the market first

Before you start seriously searching for a new home—or put your current home on the market—make sure you have a solid understanding of the housing market in your area (and the area where you’re planning to buy). Is the market weighted toward buyers or sellers?
Only then will you be able to fully strategize. As is so often the case, the best plan of action may differ depending on exactly who has the power.
That doesn’t mean to find one house you like and call it a day: Find multiple suitable options. That way, you’re less likely to find yourself in trouble if your purchase falls through—your newly sold home won’t leave you stranded.
Similarly, make sure to hire an appraiser and price your old home fairly. Now is decidedly not the time for delusions of grandeur: Two extra months on the market because you couldn’t humble yourself to lower the price means two months you’ll be paying double mortgages. Two very long months…

Plan your schedule carefully…

Should you buy first, then sell—or vice versa? Both have their risks and rewards. Selling first makes getting a mortgage easier, but it also means you’ll need to find a temporary place to live. Buying first means moving will be easier, but it also skews your debt-to-income ratio, making it harder to qualify for a new mortgage—not to mention the difficulty of juggling two monthly house payments.
“It’s walking a tightrope,” says Gary DiMauro, a Realtor in New York’s Hudson Valley. And he’s not just talking about scheduling: Your finances will be on the highwire, too. When determining whether you should sell or buy first, think beyond “How can I make the move as easy as possible?” Instead ask: “Can I handle two mortgages? What if my home sells for less than its listing?”
Whichever option you choose, make sure you’re prepared to accept the consequences: having to store your stuff and rent temporarily, or undergoing the financial burdens of dual mortgages.




To Read The Entire Article, Please Click Here!


To sell and buy a house give The Easterbrook Team a Call at 916.850.6050! We have secured relationships with top producing agents that we will match you up with to get the job done with out the headache!

Key Trends for Military Buyers and Sellers in 2015

As more military service members and veterans enter the housing market, it’s important for them to have real estate agents who are up to date on VA loans and market trends to guide them through the purchase process.
In fact, VA loans have a higher closing rate percentage than both FHA and conventional loan products.
Data from the most recent Ellie Mae Origination Insight Report provide a detailed look into the housing market and show VA purchases closed at a rate of 73.9%, significantly higher than FHA purchases at 62.1% and conventional purchases at 68%.
What does this mean for agents? It means that VA loans are reliable and VA buyers are more likely to close on their home once under contract.


To Read The Entire Article, Please Click Here!




To find out what you qualify for with a VA or FHA loan give us a call today!




The Easterbrook Team with Sierra Pacific Mortgage
John Easterbrook NMLS# 226555
P: 916.224.7653
Patty Aguon NMLS#994635
P: 916.833.5063
EasterbrookTeam@spmc.com


806 Bidwell Street
Folsom, CA 95630

Selling Your House Next Spring? 5 Fall Projects to Do Now

Planning on selling your home in the spring? Good news — that leaves plenty of time to tackle all sorts of projects this fall that will help you snag top dollar when the tulips start blooming. Take an objective look around your home from a buyer’s perspective. What would stop you from making an offer? What do you need to do to put your home’s best face forward?

Here are some fall projects to jump on now in order for your home to be in tip-top shape for a spring sale:

1.  Update Your Curb Appeal


To Read More See Below

Read more: http://www.houselogic.com/home-advice/home-thoughts/selling-your-house-projects/#ixzz3ljXQoXRk
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Looking for a Lender and an Agent?  Look no further!  The Easterbrook Team has the skills to match our interested clients with top producers in the area.  We will match you with someone who we feel will fit your personality the best.  Get prequalified today!


The Easterbrook Team with Sierra Pacific Mortgage
806 Bidwell Street Folsom, CA 95630
John Easterbrook & Patty Aguon
NMLS# 226555 & 994635


916-850.6050
EasterbrookTeam@spmc.com

Foreclosures Down 68% From Peak

Foreclosures are falling fast. Since reaching a peak in September 2010, the number of foreclosures has plunged 68 percent – from 117,225 nationwide to 38,000 as of July, according to CoreLogic's July 2015 National Foreclosure Report, released this week.
In the past year alone, foreclosure inventory has fallen by nearly 28 percent and completed foreclosures have dropped about 24 percent. Completed foreclosures are the total number of homes actually lost to foreclosure.
Since the financial crisis began in 2008, about 5.8 million completed foreclosures have occurred across the country.


To Read The Entire Article, Please Click Here!




To Discuss Your Home buying & Refinancing Needs, Please Contact The Easterbrook Team


John Easterbrook & Patty Aguon
NMLS# 226555& 994635


John-916.224.7653
Patty-916.833.5063
Team-916.850-6050
Email-EasterbrookTeam@spmc.com

Communication with an Appraiser

Dos and Don'ts of Appraiser Communication

Forget the rumors that you have to keep silent. But that doesn’t mean your communications still can’t get you in trouble.

Real estate professionals and appraisers both play an essential role in the process of buying or selling a home. It is critical that these two parties work together to ensure that an appraiser provides an independent, impartial, and objective opinion of value that accurately reflects the marketplace. However, we often hear from brokers and agents that they’re unaware of how much interaction they may have with an appraiser, what they’re allowed to say, and what information they can provide. Some incorrectly believe that they are prohibited from speaking to an appraiser at all

To Read This Entire Article, Please Click Here!

The Easterbrook Team with Sierra Pacific Mortgage Company

John Easterbrook & Patty Aguon

NMLS#-226555 & 994635

806 Bidwell Street

Folsom, CA 95630

916-850-6050

EasterbrookTeam@spmc.com

The Short List: The 4 Things Agents Need to Know about Millennial Renters

We’ve all heard it – “the Millennial renters will soon make the leap to purchases.” The real question, though, is “when will these renters take that step?” How can we separate long-term renters from short-term renters?
From leasing over 220 apartments in 2015 to working with a management company owning 2,000+ units, we’ve noticed a trend – Millennial renters coming to the realization that the dream of owning may be a bit further than they had initially thought.
With that in mind, we’ve compiled a short list of four important elements of Millennial renters, which can help agents prospect and convert renters to buyers.
4. Millennial renters are worried about rent renewal increases. As many renters are aware, landlords often increase rent year over year. When signing a lease with potential tenants, the question of “how much will my rent increase next year?” seems to be the main concern for many Millennial renters. This year more than ever, our tenants have placed an emphasis on staying in their current apartment until they can afford to purchase or are moving to another apartment.
Renters are looking forward with the mindset of how will rent increases impact their ability to purchase in the near future. If rent increases, their first choice is to look on Craigslist for roommates to bring down expenses or move to another apartment in a slightly cheaper neighborhood. With social media playing a significant role, it is even easier to find sublets & roommates.
Not only do renters worry about rent increases – they also worry about job security and salary. Millennials starting a new career do not have the salary necessary to purchase or enough money saved for a down payment. Top that with student debt, medical bills and roommates, and you have yourself a recipe for a longer-term renter.


To read the top 3 reasons click below.
- See more at: https://chicagoagentmagazine.com/the-short-list-the-4-things-agents-need-to-know-about-millennial-renters/#sthash.4wVizW9e.dpuf


To discuss becoming a homeowner and or refinancing your loan today give The Easterbrook Team a call at 916-850-6050 or e-mail: easterbrookteam@spmc.com

How to Score a Deal on a Home After School Starts

Wow, is it back to school time already? Not a moment too soon! Parents everywhere are high-fiving as their kids finally return to classes. (And can you really blame them?)
But with summer sputtering to a close, parents aren’t the only ones who should be celebrating. Would-be home buyers, rejoice! If you’re looking for a good deal on the right home, now is your time.
Maybe you thought spring and summer were the prime time for buying. Truth is, the end of summer has some distinct advantages for home buyers who aren’t tied to the academic calendar.
So, with the kiddos back in school, you might be able to swoop in and score a deal. Here are four ways to make it happen.


1. Stop procrastinating and get started
2. Ask for concessions, but stay flexible
3. Take your time
4. Research comps—and be ready with the right offer


To Read This Entire Article Click Here!




To Discuss Your Home Buying Options

Easterbrook Team with Sierra Pacific Mortgage

John Easterbrook (NMLS#226555) and Patty Aguon (NMLS#994635) can both be reached at

(916) 850-6050.  We can also be emailed at easterbrookteam@spmc.com. 

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