The clock is ticked and the Home Buying Stars Are Aligned
The clock is ticked and the Home Buying Stars Are Aligned
The saying “the stars are aligned” pretty much sums up the housing market today. Let’s take a look at why buying today -- not waiting until Spring, for example -- makes sense.
1. The Department of Housing and Urban Development (HUD) recently made changes to the cost of getting a loan guaranteed by the Federal Housing Authority (FHA). On April 5th, 2010, the cost of required up-front mortgage insurance on FHA insured loans will be increased by one-half per cent. This could add $1,000 or more to the loan amount. Although it is usually financed in the loan, the extra cost will be paid by the homebuyer one way or the other.
2. There are also changes coming to the amount a home seller can contribute toward the buyer’s costs at closing. Currently, FHA allows the seller to contribute up to 6% of the home’s price. That will be cut in half to just 3%, probably sometime this Summer (the date has not yet been set by HUD). This could mean many thousands of dollars more that the homebuyer will have to come up with at closing.
3. Mortgage rates are near historic lows, BUT the Federal Reserve Board’s mortgage backed securities purchase program is set to expire. The Fed has already scaled back its purchases over the last few months, allowing rates to rise on mortgages. Once the Fed stops the purchases entirely at the end of the first quarter, rates are expected to rise a half per cent or more.
4. The deadline for the Home Buyer Tax Credit is for contracts written on or before April 30th (and set to close no later than June 30th).
All of this adds up to a big “don’t wait!” If you or anyone you know is thinking about buying a home, please have them call or email us today.
Since the Stars are aligned, now It’s Crunch Time!
January is over. You are either on track to be hitting your goals for the year or you are already off track. This is the time to get back on the horse, to be disciplined, and to finish the drill. Below are 4 truths about discipline from an article I read months ago by John Maxwell…. I met Mr. Maxwell a number of years ago as he was the speaker at a mortgage event… great guy.
Four Truths about Discipline
Discipline Comes with a Price Tag
Discipline is costly. It demands a continual investment of time, energy, and commitment at the expense of momentary pleasure and ease. Discipline means paying hours of practice to win the prize of skill. Discipline means giving up short-term benefits for the hope of future gain. Discipline means pressing on to excellence long after everyone else has settled for average.
Discipline Turns Talent to Greatness
When you read about someone like Mickey Mantle, you realize that too much talent can actually work against someone. Super-talented individuals can coast on sheer ability and neglect building the daily habits of success that will sustain them. Poet Henry Wadsworth Longfellow shared much insight when he wrote:
The heights by great men reached and kept
Were not attained by sudden flight,
But they, while their companions slept,
Were toiling upward in the night.
If you want to reach your potential, attach a strong work ethic to your talent.
Discipline Focuses on Choices, Not Conditions
In general, people approach daily discipline in one of two ways. They focus on the external or the internal. Those who focus externally allow conditions to dictate whether or not they remain disciplined. Because conditions are transitory, their discipline level changes like the wind.
In contrast, people with internal discipline focus on choices. You cannot control circumstances, nor can you control others. By focusing on your choices, and making the right ones regularly, you stay disciplined.
Discipline Does Not Bow Down to Feelings
As Arthur Gordon said, "Nothing is easier than saying words. Nothing is harder than living them, day after day. What you promise today must be renewed and redecided tomorrow and each day that stretches out before you."
If you do what you should only when you really feel like it, then you won't build disciplined habits. At times, you have to act contrary to emotions. If you refuse to give into your lesser impulses, no matter how great they will make you feel in the moment, then you'll go far.
Summary
Discipline is a matter of taking total responsibility for your future. Choose not to blame circumstances for the outcome of your life. Choose to go beyond your natural talent. Choose to make wise decisions repeatedly. Choose discipline as the path to your potential.”
For more info contact:
Phillip Jones, Broker
Your Choice Real Estate, Inc.
151-18 College Drive
Orange Park, FL 32065
Phone: (904) 298-2679 Ext 501
Toll Free: (888) 490-0671 Ext 501
Fax: (866) 923-9990
E-mail: pjones@ycre.net
Website: www.ycre.net
The saying “the stars are aligned” pretty much sums up the housing market today. Let’s take a look at why buying today -- not waiting until Spring, for example -- makes sense.
1. The Department of Housing and Urban Development (HUD) recently made changes to the cost of getting a loan guaranteed by the Federal Housing Authority (FHA). On April 5th, 2010, the cost of required up-front mortgage insurance on FHA insured loans will be increased by one-half per cent. This could add $1,000 or more to the loan amount. Although it is usually financed in the loan, the extra cost will be paid by the homebuyer one way or the other.
2. There are also changes coming to the amount a home seller can contribute toward the buyer’s costs at closing. Currently, FHA allows the seller to contribute up to 6% of the home’s price. That will be cut in half to just 3%, probably sometime this Summer (the date has not yet been set by HUD). This could mean many thousands of dollars more that the homebuyer will have to come up with at closing.
3. Mortgage rates are near historic lows, BUT the Federal Reserve Board’s mortgage backed securities purchase program is set to expire. The Fed has already scaled back its purchases over the last few months, allowing rates to rise on mortgages. Once the Fed stops the purchases entirely at the end of the first quarter, rates are expected to rise a half per cent or more.
4. The deadline for the Home Buyer Tax Credit is for contracts written on or before April 30th (and set to close no later than June 30th).
All of this adds up to a big “don’t wait!” If you or anyone you know is thinking about buying a home, please have them call or email us today.
Since the Stars are aligned, now It’s Crunch Time!
January is over. You are either on track to be hitting your goals for the year or you are already off track. This is the time to get back on the horse, to be disciplined, and to finish the drill. Below are 4 truths about discipline from an article I read months ago by John Maxwell…. I met Mr. Maxwell a number of years ago as he was the speaker at a mortgage event… great guy.
Four Truths about Discipline
Discipline Comes with a Price Tag
Discipline is costly. It demands a continual investment of time, energy, and commitment at the expense of momentary pleasure and ease. Discipline means paying hours of practice to win the prize of skill. Discipline means giving up short-term benefits for the hope of future gain. Discipline means pressing on to excellence long after everyone else has settled for average.
Discipline Turns Talent to Greatness
When you read about someone like Mickey Mantle, you realize that too much talent can actually work against someone. Super-talented individuals can coast on sheer ability and neglect building the daily habits of success that will sustain them. Poet Henry Wadsworth Longfellow shared much insight when he wrote:
The heights by great men reached and kept
Were not attained by sudden flight,
But they, while their companions slept,
Were toiling upward in the night.
If you want to reach your potential, attach a strong work ethic to your talent.
Discipline Focuses on Choices, Not Conditions
In general, people approach daily discipline in one of two ways. They focus on the external or the internal. Those who focus externally allow conditions to dictate whether or not they remain disciplined. Because conditions are transitory, their discipline level changes like the wind.
In contrast, people with internal discipline focus on choices. You cannot control circumstances, nor can you control others. By focusing on your choices, and making the right ones regularly, you stay disciplined.
Discipline Does Not Bow Down to Feelings
As Arthur Gordon said, "Nothing is easier than saying words. Nothing is harder than living them, day after day. What you promise today must be renewed and redecided tomorrow and each day that stretches out before you."
If you do what you should only when you really feel like it, then you won't build disciplined habits. At times, you have to act contrary to emotions. If you refuse to give into your lesser impulses, no matter how great they will make you feel in the moment, then you'll go far.
Summary
Discipline is a matter of taking total responsibility for your future. Choose not to blame circumstances for the outcome of your life. Choose to go beyond your natural talent. Choose to make wise decisions repeatedly. Choose discipline as the path to your potential.”
For more info contact:
Phillip Jones, Broker
Your Choice Real Estate, Inc.
151-18 College Drive
Orange Park, FL 32065
Phone: (904) 298-2679 Ext 501
Toll Free: (888) 490-0671 Ext 501
Fax: (866) 923-9990
E-mail: pjones@ycre.net
Website: www.ycre.net
posted by info at
2:56 PM
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home