Thursday, January 29, 2015
Obama cut the FHA insurance premium
Obama: FHA Premium Cut Helps Middle Class
Daily Real Estate News | Wednesday, January 21, 2015
In his sixth State of the Union speech, President Barack Obama last night pointed to the cut in the annual FHA insurance premium that takes effect later this month as the kind of “middle-class economics” initiative he wants to focus on to help build on the country’s improving economic picture.
“Things like lower mortgage premiums … will make a meaningful difference in the lives of millions of families,” the president said last night in his nationally televised address before a joint session of Congress.
Obama provided no details on the FHA initiative, but in a speech he gave two weeks ago in Phoenix, the president said the FHA premium cut would save home owners an average of $900 a year in fees. NAR President Chris Polychron attended that speech and spoke with Obama prior to it about the proposal. “I told the president we received the proposal very favorably,” Polychron said last week.
Behind that number is a 50 basis point reduction in the annual mortgage insurance premium, from 1.35 percent to 0.85 percent, that’s set to take effect January 26, according to a mortgagee letter issued by the U.S. Department of Housing and Urban Development earlier this month.
Obama framed his speech around a theme he called “middle-class economics,” which is intended to lift up working families now that the economy is seeing sustained job growth, an improved stock market, and lower gas prices.
Obama said three components were required to bring about his vision of middle-class prosperity: security for working Americans, the skills required to fill 21st century jobs, and a competitive environment for businesses looking to locate and hire workers. He offered a list of ideas from child care tax cuts to free junior college tuition to strong free-trade deals with Asia and Europe.
Obama also highlighted his position on Internet net neutrality, a policy framework backed by NAR that is intended to prevent Internet service providers from creating different tiers of service levels that would impact consumers’ online experience. “I intend to protect a free and open internet, extend its reach to every classroom and every community, and help folks build the fastest networks, so that the next generation of digital innovators and entrepreneurs has the platform to keep reshaping our world,” he said.
He also noted the careful approach his administration is taking on regulation of unmanned aerial vehicles, or drones. The Federal Aviation Administration is working on rules for the use of small UAVs for commercial purposes, although it’s not clear when the rules will be released. The president said his administration is working “to make sure our use of new technology like drones is properly constrained.” NAR supports the safe and responsible use of UAVs for commercial purposes and has worked with the FAA as it develops its rules.
Much of the president’s agenda will require congressional action, setting up some difficult legislating in the year ahead. In remarks reported in the Washington Post after the speech, House Speaker John Boehner (R-Ohio) called some of the proposals “unserious” and, in other reports, said they’re “the wrong policies.”
— Robert Freedman, REALTOR® Magazine Daily News
Thursday, January 15, 2015
December 2014 Newsletter
Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.
Please click on this link to view the Housing Trends December 2014 Newsletter:
http://omarrodriguezrealestate.housingtrendsenewsletter.com
The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau, Realtor.org reports and other sources.
Housing Trends eNewsletter is also filled with local and national real estate sales and price activity provided by MLSs and the National Association of Realtors, U.S. Census Bureau key market indicators, housing market video reports, blogs, real estate glossary, maps, mortgage rates and calculators, consumer articles, community reports that map shopping, schools, recreation and more.
If you are interested in determining the value of your home, click the “Home Evaluator” link for a free evaluation report:
http://omarrodriguezrealestate.housingtrendsenewsletter.com/homeworth.cfm
Sound decisions can only be made with accurate and reliable information, and I am happy to be a trusted resource for you. Thank you for the opportunity to provide you with this monthly eNewsletter, and I look forward to answering any questions you may have and to the opportunity to be your REALTOR® in the future.
Sincerely yours,
Omar Rodriguez
National Real Estate Group
8008 Haven Ave. Rancho Cucamonga CA 91730
909-320-2345 | 909-201-3093
omar4homes@yahoo.com
(While I hope you find the information contained in this eNewsletter useful and informative, if you wish to no longer receive it, you may click on the “unsubscribe” link at the bottom of the newsletter.)
Please click on this link to view the Housing Trends December 2014 Newsletter:
http://omarrodriguezrealestate.housingtrendsenewsletter.com
The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau, Realtor.org reports and other sources.
Housing Trends eNewsletter is also filled with local and national real estate sales and price activity provided by MLSs and the National Association of Realtors, U.S. Census Bureau key market indicators, housing market video reports, blogs, real estate glossary, maps, mortgage rates and calculators, consumer articles, community reports that map shopping, schools, recreation and more.
If you are interested in determining the value of your home, click the “Home Evaluator” link for a free evaluation report:
http://omarrodriguezrealestate.housingtrendsenewsletter.com/homeworth.cfm
Sound decisions can only be made with accurate and reliable information, and I am happy to be a trusted resource for you. Thank you for the opportunity to provide you with this monthly eNewsletter, and I look forward to answering any questions you may have and to the opportunity to be your REALTOR® in the future.
Sincerely yours,
Omar Rodriguez
National Real Estate Group
8008 Haven Ave. Rancho Cucamonga CA 91730
909-320-2345 | 909-201-3093
omar4homes@yahoo.com
(While I hope you find the information contained in this eNewsletter useful and informative, if you wish to no longer receive it, you may click on the “unsubscribe” link at the bottom of the newsletter.)
Omar Rodriguez
Realtor
BRE 01778166
National Real Estate Group
8008 Haven Ave. Suite 200
Rancho Cucamonga, CA 91730
909-201-3093 mobile
888-496-8190 fax
Number 1 reason homes sit on the market is…?
The number 1 reason homes sit on the market, is of course, price. I'm sure you knew this already. A couple of things happen that leads a home to be overpriced.
1. The sellers have an unrealistic opinion of the value of their home based on upgrades they have done and because, well it's their home and they always feel their home is better than their neighbors.
2. Sellers decided to get a Zestimate from Zillow and well we all know those are wrong. A lot.
However, the culprit isn't always the seller. Yes, the seller may be incorrect in their initial assessment of the value of their home. But, it is up to the agent to provide facts and data to support a realistic price.
The sad truth is that many agents will tell their clients what they want to hear just to get the contract with the thinking they can get them down on price later. This strategy can work if the agent takes the listing with the clear understanding to the client that the price will be lowered at the 30 day mark if activity is low. The hard truth is that most agents do not do this and take the overpriced listing anyway, hoping and praying that a buyer will come along and overpay for the home. WRONG!
I have lost many listings by sticking to my guns and telling clients what they need to hear. Not what they want to hear. Some will appreciate it, others won't. Oh well. You move on and find other clients.
I'll speak to the number 2 reason homes sit on the market next week.
Happy hunting.
Cheers,
-O
Omar Rodriguez Real Estate
National Real Estate Group
BRE 01778166
909-201-3093 mobile
1. The sellers have an unrealistic opinion of the value of their home based on upgrades they have done and because, well it's their home and they always feel their home is better than their neighbors.
2. Sellers decided to get a Zestimate from Zillow and well we all know those are wrong. A lot.
However, the culprit isn't always the seller. Yes, the seller may be incorrect in their initial assessment of the value of their home. But, it is up to the agent to provide facts and data to support a realistic price.
The sad truth is that many agents will tell their clients what they want to hear just to get the contract with the thinking they can get them down on price later. This strategy can work if the agent takes the listing with the clear understanding to the client that the price will be lowered at the 30 day mark if activity is low. The hard truth is that most agents do not do this and take the overpriced listing anyway, hoping and praying that a buyer will come along and overpay for the home. WRONG!
I have lost many listings by sticking to my guns and telling clients what they need to hear. Not what they want to hear. Some will appreciate it, others won't. Oh well. You move on and find other clients.
I'll speak to the number 2 reason homes sit on the market next week.
Happy hunting.
Cheers,
-O
Omar Rodriguez Real Estate
National Real Estate Group
BRE 01778166
909-201-3093 mobile
Wednesday, January 7, 2015
Drones coming to a neighborhood near you...very soon.
So the FAA has just given approval to the very first Real Estate agent to use a drone to take pictures of neighborhoods. Yes, drones will now be taking pictures of neighborhoods on behalf of Real Estate agents. While this sounds very interesting, I highly doubt this will lead to a mass proliferation of drones across the country controlled by RE agents. For one, they may very well be cost prohibitive and the fact that a business case still needs to be built as to how using a drone will add value to the customer in the sale of their home. Perhaps, an agent could position himself as an innovator but I still need to see hard proof that its anything other than a gimmick.
Cheers,
O.
Omar Rodriguez Real Estate
BRE 01778166
909-201-3093 mobile
Cheers,
O.
Omar Rodriguez Real Estate
BRE 01778166
909-201-3093 mobile
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