Bye Bye Foreclosure Hell

We’re Finally Out of Foreclosure Hell!

It actually wasn’t all bad, was it?  At least you didn’t have to make appointments to show properties – they were all vacant.  Remember? The problem was that you couldn’t find anyone that could afford or qualify to buy one.  The numbers have been tabulated and foreclosures are at their lowest level since the housing crisis began.  Foreclosures plummeted almost 27%, from 603,028 in 2014 to 476,000 in 2015, according to CoreLogic.  CLICK HERE for ARTICLE

To make your dreams come true, Call The Easterbrook Team for your refinance and purchase needs.

916.850.6050 easterbrookteam@spmc.com 

John Easterbrook NMLS#226555

Patty Aguon NMLS#994635

More millennials stuck renting for years before buying home

WASHINGTON

Home ownership, that celebrated hallmark of the American dream, is increasingly on hold for younger Americans.
Short of cash, burdened by student debt and unsettled in their careers, young adults are biding time in apartments for longer periods and buying their first homes later in life.

The typical first-timer now rents for six years before buying, up from 2.6 years in the early 1970s, according to a new analysis by the real estate data firm Zillow. The median first-time buyer is age 33 — in the upper range of the millennial generation, which roughly spans ages 18 to 34. A generation ago, the median first-timer was about three years younger.
The delay reflects a trend that cuts to the heart of the financial challenges facing millennials: Renters are struggling to save for down payments as wages have largely stagnated. Increasingly, too, they're facing delays in some key landmarks of adulthood, from marriage and children to a stable career, according to industry and government reports.

These shifts help explain why homeownership, long a source of middle class identity and economic opportunity, has started to decline. The share of the U.S. population who own homes has slid to 63.4 percent, a 48-year low, according to the Census Bureau.




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To Discuss How You Can Become A Home Owner Call The Easterbrook Team
916-850-6050 or E-Mail: Easterbrookteam@spmc.com

Read more here: http://www.sacbee.com/news/business/real-estate-news/article31283318.html#storylink=cpy

Mortgage applications jump a solid 4.7% in last week of July

Mortgage applications increased 4.7% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 31, 2015.

The Market Composite Index, a measure of mortgage loan application volume, increased 4.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 5% compared with the previous week.

The Refinance Index increased 6% from the previous week. The seasonally adjusted Purchase Index increased 3% from one week earlier. The unadjusted Purchase Index increased 3% compared with the previous week and was 23% higher than the same week one year ago.

“Despite recent concerns about the economy, both purchase and refinance applications increased strongly in response to lower interest rates last week,” said Lynn Fisher, MBA’s Vice President of Research and Economics. “Refinance activity was the highest since May when rates were last at this level. The increase in purchase activity was also notable for this time of year, up 23% relative to a year ago.”

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To discuss starting your loan application with The Easterbrook Team, give us a call at    916-850-6050 or email: easterbrookteam@spmc.com

John Easterbrook

NMLS# 226555 

Patty Aguon

NMLS#994635

Do you have the skills to survive homeownership?

So consider these 47 tips a crash course in homeowner self-confidence. And study them well. 'Cause owning a house means you're going to have questions. Lucky for you, we've got some answers.

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To discuss becoming a homeowner in this current market of low interest rates and various available programs to fit your financial needs contact the Easterbrook Team today!

Patty Aguon

NMLS: 994635

PH: 916-833-5063

Patty.Aguon@spmc.com

John Easterbrook

NMLS: 226555

PH: 916-224-7653

John.Easterbrook@spmc.com

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