Our end of the month client financial reviews were hopeful for the first time this year.  June seems like it turned out to be the best month of the year for brokers, and sales are ahead of cancellations for most of our technology clients.  Hip Hip Hooray! Nevertheless, this coming winter may be tougher than last winter, so build reserves.  We advise keeping these six covenents in mind as you plan the balance of your year. Hold Cash - Be sure to have enough cash on hand to cover cash flow shortfalls between November 2009 to March 2010. Continue to [...]

In Jim Welsh’s June newsletter he offered the following synopsis of where we are heading in real estate.  I hope that he is wrong, but nevertheless believe it valuable enough to republish his thoughts.  He is offering his opinion based upon some pretty credible data sources.  Be sure to read the entire report to understand why he feels that “The combination of higher unemployment and underemployment, along with another round of mortgage resets will lead to another wave of foreclosures. This next wave will increasingly impact the mid to upper end of the price range.” […]

Consumers and Real Estate Professionals Can Shop and Save on Title Insurance and Real Estate Closing Costs at Closing.com San Diego June 24, 2009 – Closing.com, the most comprehensive source of information about real estate closing service providers ever assembled online, has announced the launch of its 2.0 Web site (in beta). Now consumers and real estate professionals can create instant closing cost estimates while shopping for and saving on all their real estate closing services. Visitors to the site can choose from a database of more than 140,000 companies providing real estate services in 11 major categories ranging from [...]

Remember buying that last car - you negotiated the final price with the salesperson then they turned you over the the “Finanance and Insurance Guy” who hammers you for a warranty, mud flaps, car mats, rust proffing, chip guard and other stuff?  Somehow they always get you to buy something. The back end costs of buying a home are not much different for home buyers - inspection fees, title escrow fees, attorney fees, insurance, yadda, yadda… all adding up to hundreds or even thousands of dollars.  When you purchased your last home, did you shop for the best provider with [...]

The Mortgage Bankers Association (MBA) released the latest mortgage data this morning.  Bad news abounded.  As a result of rates moving up over their record lows of around 4.6% a few weeks ago, all leading mortgage indexes fell.  Applications fell by 15.8%,  Refinance fell by 23.3% and purchase applications dropped 3.5%.  This is a significant reversal from the March rise. The raise in rates was triggered by the bond market pushing the yield on the then year note up to 4%. This trend must be reversed immediately for the Fed's recovery plan to work.  This issues is only compounded by [...]