Special show October 23rd for all investors and IRA or SEP IRA holders. Below is our guest speaker Bill Neville. Do you know you can buy investments THROUGH your IRA? Gain is NOT taxed? But there are procedures that absolutely MUST be adhered to. We’ll discuss this great program with our IRA specialist.
Bill Neville, Business Development Manager
About Bill Neville, Business Development Manager
Bill Neville joined The Entrust Group over five years ago through his initial role as Manager of Operations for the company’s franchise program. When the program was discontinued, Bill stepped up to the task of managing the Compliance and Internal Audit departments. With a keen eye for detail and gaining valuable insights into the IRA industry, Mr. Neville kept Entrust’s educational programs and internal processes in line with industry regulations. Bill actively takes pride in the company’s growth and success, and is currently the Business Development Manager for Entrust’s San Francisco Bay Area office.
Certified IRA Services Professional (CISP)
t 800.392.9653 x237 | d 510.587.0950 x237 | f 510.587.0960
The Entrust Group | 555 12th Street, Suite 1250 | Oakland, CA 94607
Rates are so low it’s Xmas in October!
|Loan Type||MI Type||Interest Rate||APR|
|5/1 ARM Conforming||3.000%||3.523%|
|30-yr fixed Conforming||3.375%||3.432%|
|15-yr fixed Conforming||2.875%||2.977%|
Non-Conforming: Over $554,300
|Loan Type||MI Type||Interest Rate||APR|
|5/1 ARM Non-Conforming||2.625%||3.378%|
|30-yr fixed Non-Conforming||3.250%||3.272%|
|15-yr fixed Non-Conforming||3.000%||3.040%|
Information displayed is accurate as of 9/30/2016 2:59:57 PM (CT) and is subject to change without notice.
For information on the many other loan options we have available, please contact me. I look forward to hearing from you.
From our friends at CalculatedRisk.com. The number of “Serious” defaults or those 90 days in arrears is dropping steadily. At this rate 8 months from now we’ll be “back” to normal!
Bill McBride on 9/29/2016 05:09:00 PM
Fannie Mae reported today that the Single-Family Serious Delinquency rate declined in August to 1.24%, down from 1.30% in July. The serious delinquency rate is down from 1.62% in August 2015.
These are mortgage loans that are “three monthly payments or more past due or in foreclosure”.
This is the lowest rate since April 2008.
The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59%.
Although the rate is generally declining, the “normal” serious delinquency rate is under 1%.
The Fannie Mae serious delinquency rate has fallen 0.38 percentage points over the last year, and at that rate of improvement, the serious delinquency rate will not be below 1% for about 8 more months.
Read more at http://www.calculatedriskblog.com/2016/09/fannie-mae-mortgage-serious-delinquency.html#yAbZZRls8lYSAVGG.99
7 tips on gaining an edge when presenting your offer to a seller.
- Know What the Seller wants—You can’t be the answer to their prayers—unless you KNOW what they’re praying for!
- Have an agreed to game plan for your purchase—what is the big WHY of your purchase?
- Bringing Seller or Seller’s agent to reality–Pricing—sometimes we get hung up on small amounts relative to the overall value of the home. A seller and buyer got hung up on $2500 on a $550,000 purchase price. Seems trivial right? I mean its less than a ½%. But the infamous phrase: “It’s the principle!” I won’t let $2500 stand in my way of having a client either get their price when a seller or a buyer. In this case, the buyer was looking at another home in an HOA where the dues $450.00 vs. this HOA at $200.00. That’s $250/month for a savings of $3,000 a year. So the first year he recouped the price increase in 10 months. Plus if he was going to live in the unit for 10 years its gets to the point of being trivial.
- Negotiate—some folks just can’t do full price. We have plenty of buyers who have lost a home because they didn’t step up to the plate. If you insist on going in low then you better have a big offset—no contingencies? Shorter inspection periods, quicker close big deposit in excess of 3%. Or go in at full price and ask for stuff—lawn mower, tractor, furniture—hey, some folks are moving down. This you can learn from the listing agent.
- Leave Contingencies to a minimum. Inspection contingency should be the absolute one you wish to keep. Shorten up the time frames for this. CAR defaults to 17 days.
- Make Multiple Offers? Be careful with this one. The essence of negotiations is “good faith” in a contract. If you are buying 3 houses that’s find. But if you are only going to buy ONE of the three you have offers on then disclose what you are up to and WHY! I had a client, in for the weekend on a job transfer and needing to buy a home, made three offers with instructions to me to inform the seller as to WHY he was doing this. He had me present to the #1 house first and wanted me to tell the seller, “Folks, my client wants your home badly but he needs to know when he goes back east that he has a home to move to. He wants your answer immediately. If you can’t do this I’m instructed to present offer #2. This repeats with #2 as I moved to #3. I didn’t get to #2. You may think this was pressure on the Seller but the house had been on the market for some time and we assumed the seller KNEW what they wanted.
- Follow up with listing agent in case you did not get your offer accepted. Ask to be in back-up position. I had presented an offer on a large estate and was representing a very high powered attorney. He got beat out by an “in-house”, Seller was an agent, deal. I wasn’t happy how it went down so insisted we be given “back-up” offer status. It took me some convincing to get my attorney client on board. He grudgingly acquiesced. 2 days later I get a call from the listing agent, buyers realize it is too far out for them from the city. Boom! We’re in first place. I got to make a very nice call to my client who also got to tell his wife they “got the house”!
Above chart show the drop in inventory since 2011. Sales, meager over the past 5 years. show the lingering effects of the great bust and great “reccession”.
CAL FIRE Battalion Chief, Kirk Van Wormer will be calling in with an update on the Lake County “Clayton Fire”, and we’ll discuss Defensible Space; What is it? Why is it important?
More on the show, including KW Open House Extravaganza, Interest Rate update, a look at the August market, and more. Join the fun at 9:00-10:00 AM pst, 1350AM, 103.5 FM and streaming live at www.KSRO.com
Here are a few great tips from the CAL-FIRE website
|1. Equipment Use Safety
· Never mow or trim dry grass on a Red Flag Warning Day. (Mow before 10 a.m. on a day when its not hot and windy).
· Never use lawn mowers in dry vegetation.
· Spark arresters are required in wildland areas on all portable gasoline powered equipment.
|2. Campfire Safety
· Before starting a campfire, make sure you have a campfire permit and that they are permitted on the land you are visiting.
· Afterwards, ensure that your campfire is properly extinguished.
|3. Defensible Space
· Residents should make sure they have 100 feet of defensible space around structures.
· Clear dead weeds and vegetation.
· Remove leaves and needles from gutters.
· Trim branches 6 feet from the ground.
· Never pull over in dry grass.
· Ensure trailer chains don’t drag on the ground.
· Make sure your vehicle is properly maintained.
· Have proper tire pressure to avoid driving on wheel rim.
· Never let your brake pads wear too thin.
· Make sure cigarette butts are properly extinguished.
· Never burn landscape debris like leaves or branches on NO Burn Days or when it’s windy or areas where not allowed.
· Target shoot only in approved areas, use lead ammunition only, and never at metal targets.
· Report any suspicious activities to prevent arson.
For more fire prevention tips visit a www.PreventWildfireCA.org.
Curious about septic systems?? Here’s a little primer. Mike Treinen in studio today on The Real Estate Hour, talking Septic Systems. Tune in today 8/07/2016 9-10AM 1350AM, 103.5FM and live at KSRO.com and Facebook live!
The national remodeling market is experiencing what some are calling a “full recovery”. The driving factor? Real Estate sales.
The Real Estate market has an approximate $60,000 direct and indirect ripple effect per home purchase… and there’s more. Tune in to The Real Estate Hour Sunday 7/31/2016 9-10AM PST 1350AM103.5FM and streaming LIVE at www.KSRO.com
So when the world economy shudders and lurches on the news of “the un-thinkable” –Brittian leaving the EU– the smart money runs for the relative safety of “bonds”. Bad news=great interest rates! This is getting seriously low. Look at these absolutely delicious rates!
Mortgage Rates for June 24, 2016
|FIXED AND ARM CONVENTIONAL PROGRAMS||RATE APR|
|30 Year Fixed Conventional||3.500% 3.665%|
|15 Year Fixed Conventional||2.875% 3.015%|
|5/1 LIBOR ARM Conventional||3.000% 3.088%|
|7/1 LIBOR ARM Conventional||3.125% 3.178%|
|JUMBO PROGRAMS ($554k +)||RATE APR|
|30 Year Fixed||3.375% 3.592%|
|15 Year Fixed||3.250% 3.009%|
|5/1 LIBOR ARM||2.750% 2.847%|
|7/1 LIBOR ARM||2.750% 2.911%|
|FHA/VA FIXED PROGRAMS||RATE APR|
|30 Year FHA/VA||3.250% 4.397%|
|15 Year FHA/VA||3.250% 4.660%|