Thursday, June 24, 2010

Be in the moment...

It’s been a number of months since I’ve posted anything… business has been-- busy!

In spite of the economic news our business has been flourishing. Many of our friends and clients continue to pass my name out to their friends and family, and for that I am very grateful. Being busy is a good thing… I think.

Over this past week, one of our dear colleagues lost her husband suddenly at a very young age to a massive heart attack. I’ve been thinking a lot about her and her children. I wrote this short email to our team and I thought I’d like to share it with all of you:

Susan and I are headed to the Cape for the next few days.

Some of you have asked if you could help with my business while I’m gone-- thanks, I think I’m all good. As always, I’m proud to call you my colleagues and friends. I may reach out to you individually if something unforeseen should arise.

I thought a lot about Vicki and her family this week…

I challenge each one of you (along with my own personal challenge), to stop and be in the moment as much as you can, especially with the long weekend approaching next week.

Be in the moment…

It sounds so simple and yet, there’s always a bill that needs to be paid, or a client that needs our attention, or something in the house that needs to be cleaned of fixed.

Be in the moment…

Give that gift to yourself for a little while… for the weekend… a day… or just a couple of hours… or even just a moment.

Peace and Happy Fourth of July!

Wednesday, January 27, 2010

Those Who Wait Will Pay Thousands More This Spring

Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements several changes for loans guaranteed by the Federal Housing Authority (FHA).

Coming just weeks before the April 30 deadline for the Home Buyer Tax Credit and just days after the March 31 expiration of the Federal Reserve Board's mortgage backed securities purchase program (which has kept home loan rates artificially low for over a year), these FHA changes make it even more important to act now if you are planning on buying a home.

Here are a few reasons why:

On April 5th, the cost of required up-front mortgage insurance for loans guaranteed by the FHA will increase from 1.75% to 2.25%. For a borrower purchasing a $200,000 home with a $7,000 down payment, the up-front mortgage insurance will increase by $965. Up-front mortgage insurance is typically financed in the final loan amount so the impact to a monthly payment will be minimal but overall, the increase is still borne by the borrower both upfront and monthly.

Later this spring, the amount of money that a seller can return to the buyer from their sale proceeds will be reduced from 6% to 3%. The reduction in these "seller concessions" can increase the amount of cash a buyer will be required to pay at closing by $6,000 for a home purchase of $200,000.

The short answer is this: The only one way to avoid being affected by all of these costly changes that lie ahead – (after you have found a home to purchase) you must apply for your FHA mortgage before April 1st, 2010.