Janis Joplin Market Advise

She may not look like your typical economist or bond trader, but her advice was as true in 1967 as it is in the last days of August of 2017 when Janis Joplin sang:

In this world, if you read the papers, darling
You know everybody's fighting ah with each other
You got no one you can count on babe...
...I'd say get it while you can, yeah.

Every cloud has a silver lining and the little cloud hovering over North Korea is no exception.  Over concerns of military escalation, there is a flight to safety with bonds.  The increased yield in bonds has given us the best pricing that we've seen in 2017.  This may be short-lived because every other economic indicator points to higher rates.  Get it while you can...

Call The Easterbrook Team Today

916.850.6050-Start your refinance or path to homeownership

"We Make The Loan Process Easy!"

Refis are UP!

Refinances are at their highest levels in 8 years (CLICK HERE).  Millennials are leading the charge.

The Easterbrook Team is ready to assist you with your refinance needs!

We Make The Loan Process Easy!

916.850.6050  Easterbrookteam@spmc.com

Neighborhood Envy

Neighborhood Envy?

In a recent survey of 500 Sacramento area homeowners, 50% of them said that they would prefer to live in another neighborhood.  If you’re a Realtor, your antennae just went “bing”!  Of the group that responded, 34% wanted to live in the suburbs and 22% pined for the hip downtown area.  Of those that responded to the survey, 64% believed in the value of homeownership.  Check out the Sacramento Bee article HERE.

Here’s more data about the demand for housing – the Sacramento region has a steady influx of people that are steadily increasing our population.  Experts have also predicted the Sacramento region to be one of the fastest growing areas in California in the coming years (Census data for 2017).

Our take on the Easterbrook Team is that this survey confirms a healthy demand for our real estate market – not only from within our borders from homebuyers upgrading, but also from new blood coming to our area to enjoy everything that we love about the Sacramento, El Dorado, and Placer areas.

We truly mean it when we say that “We Make the Loan Process Easy”.  The Easterbrook Team is Patty Aguon, Lorae Oliver, and John Easterbrook.

Your Mortgage Payment Could Be This High!

Jay-Z and Beyonce Spending $359K Per Month on House Payments

Quit complaining that your mortgage payments are too high!  You could be paying $359,142 like the music industry power couple Jay-Z and Beyonce.  That’s a third mill per month, y’all! 

 The Los Angeles Times reports that the couple purchased an $88 million Los Angeles home with a $52.8 million mortgage.  If we do the math, that’s $250,075 per month for their mortgage, $91,667 for tax per month, and $15,400 per month to insure their crib. 

 

The home in question covers 30,000-square feet and includes four swimming pools and a spa. The home purchase is, to date, the highest sale in Los Angeles County. 

 

We are so surprised (and hurt) on the Easterbrook Team that we didn’t get the call from our friends, J & B, to do their loan.  Perhaps we could have gotten them a better deal on their rate.  We’ll just have to wait for the refi.

Refinance Facts & Opportunities

Refinance Facts & Opportunities

Mortgage rates have fallen again after the Fed’s decision to not raise interest rates this September and many homeowners are refinancing. With such great rates, our refinance applications have again increased by 15% from last quarter.

On the Easterbrook Team, we focus on purchases, so most of our refinances come from our past clients.  We get them into the best loan possible at the time they buy their home and we wait for options to pop up for them. Here are some of your options:

Rate and term refinance: This is the most common form of refinancing generally because they offer the best rates. A rate and term refinance replaces a mortgage with a new loan at a lower interest rate. Generally a rate and term only allows a borrower to cash out between $500 - $2000 (depending upon loan type). Fact: divorce buyouts are generally an exception to the cash out rule. We can offer the best rate to a spouse buying out a departing spouse and not have to charge extra for a cash out refi. 

Cash-out refinance: This is a refinance where more money is borrowed than the outstanding mortgage balance plus expenses and the difference is paid to the borrower in cash.  Many of our borrowers are using the proceeds from cash out refinances to pay off high-interest debt, make home improvements, pay for college tuition, or buy more real estate. 

Shorten the term: Many of our borrowers have increases in their income or their situation allows them to make a higher payment.   Cutting the timeframe for the mortgage to 20, 15 or even 10 years can be a great option to allow for lower income in retirement years.

Refinance to get rid of mortgage insurance: If a down payment of less than 20% was paid for a purchase, there was probably mortgage insurance on the loan. But in the years since the purchase, the principal balance has been paid down and, more important, the value of your house went up a lot. If the outstanding loan amount is less than 80% of the home's appraised value, it may be possible to refinance into a loan without mortgage insurance.

This can be an especially valuable tactic for borrowers with a mortgage insured by the Federal Housing Administration -- also known as an FHA loan. With modern-day minimum down FHA loans, the mortgage insurance stays on for the life of the loan. The way to get rid of FHA mortgage insurance payments is to refinance (or to sell the house).

Our loan processes are more streamlined than they have ever been.  We’re truly confident when we say that “We Make the Loan Process Easy”.  Call us today (916) 850-6050.

7 Habits of Successful People

7 Daily Habits of Exceptionally Successful People

Success breeds success. Take these tips to improve your life.

Gavin Sequeira

When you see people who are capable of accomplishing extraordinary things, you can’t help but wonder, What is it that makes them so different?

Numerous studies show recurring characteristics congruent with high achievers. Exceptionally successful people…

1. Plan each day with purpose and action.

Sunday night gets a bad rep because it means having to face another week, back on the treadmill, spinning the wheel once again. Successful people plan their days (yes, even Sundays) different, better, more exciting, more purposeful, more meaningful. Tony Robbins says action without a higher degree of purpose is a waste of time. How much of your life are you designing?

Related: 5 Sunday Habits of People Whose Mondays Don’t Suck

2. Step outside their comfort zone.

Successful people thrive when they are stretched beyond what they think they can handle. They consistently push the boundaries of what’s possible and don’t accept settling. This means stepping outside our comfort zone and questioning the world around us, looking for opportunities to constantly improve. How long have you been in your comfort zone?

3. Surround themselves with smart people.

Some of the world’s trailblazing entrepreneurs, such as Bill Gates, Steve Jobs, Richard Branson and Mark Zuckerberg, had a solid team around them from the beginning—they knew their team was crucial to their success. Collaboration allows you to refine your thinking and challenge yourself and be challenged. We become the average of the five closest people we surround ourselves with. Who are you spending your time with?

4. Focus on the big picture.

Focusing on details allows you to track results and make improvements based on facts, not guesswork. But sometimes, we get lost in the doing and forget the building and creating. If you are not designing and creating a better life for yourself, who will? Never lose sight of the big picture and always work on your why.

Related: How to Find Your ‘Why’ in Life

5. Get the job done.

It’s human behavior to procrastinate. High achievers have developed laserlike focus when it comes to getting things done. At times they can be obsessed and selfish, often making sacrifices most of us would not be prepared or willing to make. Prioritize better; set aside time to focus on your goals list, not your to-do list.

6. Refuse to take no for an answer.

When you’ve hit a wall, it’s easy to consider that the end of the road and tend to give up. Only the most stubborn among us will persevere long enough to climb the rest of the mountain. Think of the Wright brothers trying to get people in the air. Can you imagine what their peers said? Today we can’t imagine a world without planes. What’s your dream?

7. Never stop learning.

One of our great capacities is the ability (and urge) to learn. Unfortunately, most of us stop actively learning once our formal education stops. We allow ourselves to remain stagnant in our careers and personal lives. One of my mentors, Dale Beaumont, once said, “If you are not green and growing, you are ripe and rotting.” How much of your week do you dedicate to learning?

Success breeds success. Take these tips to improve your life. Challenge yourself on a daily basis. Never give up. Surround yourself with great people who will encourage you to move forward

Is it Easy to Buy a House?

Buying a home is easier than you think!

To read The Mortgage Reports full article please click here!


The Easterbrook Team wants you to know that home buying with us is easier than you think!
"We Make The Loan Process Easy!"


The Easterbrook Team
916.850.6050
EasterbrookTeam@spmc.com

FHA Streamline Refinance

The Federal Housing Administration (FHA) streamline refinance is a special mortgage

program for those individuals who have existing FHA loans. The program is the fastest

and easiest way for FHA-insured homeowners to take advantage of today’s affordable

interest rates. The requirements are:

• No property appraisal required

• No 30-day late payments in the last 12 months

• You must have made at least six payments, since 1st payment, on your current loan

• Minimum 210 days must have passed from the closing date of the mortgage being

refinanced

• The refinance must have a “net tangible benefit” (a reduced combined rate of at least

0.5%; or a reduced loan term; or a change from an adjustable rate mortgage to a fixed

mortgage)

Please contact me today. We can review your account details and determine if this is

the right time to refinance your FHA loan. As always, it would be a pleasure to help.


Call The Easterbrook Team if you would like to discuss your refinance needs.
916.850.6050
EasterbrookTeam@spmc.com
"We Make The Loan Process Easy!"

Marketing to Millenials

Millennials are entering their peak homebuying years – and according to industry

statistics, their reluctance to enter the housing market is declining. A study from the

National Association of REALTORS® (NAR) reports that Millennials (those born between

the early 1980s and early 2000s) are the largest generational group of homebuyers in

the country.

Millennials present the mortgage industry with an exciting opportunity. Reach this

important generation by following these tips:

• Take advantage of social media. Millennials frequently rely on social media outlets

such as Facebook, Twitter, and Instagram for recommendations, advice, ideas, etc.

So maintaining a social media presence that’s professional, relevant, and engaging is

essential.

• Be mobile friendly. The NAR reports that 71% of Millennials used a mobile or tablet

website or application in their home search (highest among all generations). Make sure

your content is clear and concise. Too many graphics and images can slow down load

times. Finally, simplify navigation menus and incorporate user-friendly search boxes.

• Understand what Millennials want. For example, Millennials are the generation most

influenced by the quality of a neighborhood and its proximity to workplaces. They are

also more willing to purchase a home because of its energy efficiency features and are

the generation most likely to buy in an urban or central city area.

I hope these tips help you achieve your marketing goals. As always, I am here to

provide useful advice and information.


The Easterbrook Team would love to listen and share marketing tips.
Give us a call 916.850.6050
EasterbrookTeam@spmc.com
"We Make The Loan Process Easy!"

Where To Start Home Buying Process

Thinking of buying a house? Here's where to start...

To Read The Entire Article Click Here!

Call The Easterbrook Team Today if you are interested in the home buying process.

916.850.6050 EasterbrookTeam@spmc.com

Hidden Costs of Homeownership

4 costs you haven't factored into your homebuying budget...

To Read the Entire Article Click Here!

Don't let other lender's steer you blindly.

The Easterbrook Team prepares our buyers with the knowledge they need.

"We Make The Loan Process Easy"

916.850.6050

EasterbrookTeam@spmc.com

First Time Homebuyer Mistakes

7 first-time homebuyer mistakes to avoid...

To Read The Entire Article Click Here!

The Easterbrook Team specializes in first time homebuyers and we are experienced to steer you away from mistakes.

"We Make The Loan Process Easy!"

The Easterbrook Team

916.850.6050

EasterbrookTeam@spmc.com

Borrower's Rushing to Refinance

Mortgage applications jump 6.3% as borrowers rush to refinance....


To Read The Entire Article Click Here!




To inquire about refinancing, call The Easterbrook Team at 916.850.6050


"We Make The Loan Process Easy!"

Owner's Not Taking Highest Offer

This house had 22 offers. Here’s why the owners didn’t take the highest...


To Read The Entire Article Click Here!


The Easterbrook Team understands the market today and what buyer's are up against to get their offers accepted.  We pride ourselves in linking our borrower's with qualified realtors that understand this as well.


If we can be of any assistance to you, give us a call.
 916.850.6050 EasterbrookTeam@spmc.com

Pending home sales reverse 3-month downward trend

fPending home sales reversed course with an increase in June, according to the latest report from the National Association of Realtors.


To Read The Entire Article, Please Click Here!


The Easterbrook Team
916.850.6050
EasterbrookTeam@spmc.com

Freddie Mack Shuts Down 1% Programs

Effective November 1, 2017


Lenders react to end of Freddie Mac 1% down payment mortgage offerings


To Read This Article Click Here!




The Easterbrook Team
916.850.6050
Easterbrookteam@spmc.com

Marcus Lemonis Home Buying Message

These are the 2 essential reasons you should buy a home

Do you agree with the reasons?




Click Here to Read More!




Contact The Easterbrook Team Today!  We are your home loan specialists.  We will get you into your dream home or help you with your current loan.


916.850.6050  EasterbrookTeam@spmc.com