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Economic  Calendar for the Week of May 27  –  May 31  Date Time (ET) Release For Consensus Prior Impact Tu May 28 10:00 Consumer Confidence May 72.5 68.1 Moderate Th May 30 08:30 Initial Unemployment Claims 5/25 340K 340K Moderate Th May 30 08:30 Continuing Unemployment Claims 5/18 3.000M 2.912M Moderate Th May 30 08:30 GDP – 2nd Estimate Q1 2.5% 2.5% Moderate Th May 30 08:30 GDP Deflator – 2nd Estimate Q1 1.2% 1.2% Moderate Th May 30 10:00 Pending Home Sales Apr 1.5% 1.5% Moderate Th May 30 11:00 Crude Inventories 5/25 NA –0.338M Moderate F May 31 08:30 Personal Income Apr 0.1% 0.2% Moderate F May 31 08:30 Personal Spending Apr 0.1% 0.2% HIGH F May 31 08:30 PCE Prices – Core Apr 0.1% 0.0% HIGH F May 31 09:45 Chicago PMI May 49.3 49.0 HIGH F May 31 09:55 U. of Michigan Consumer Sentiment – Final May 83.7 83.7 Moderate >> Federal Reserve Watch    Forecasting Federal Reserve policy changes in coming months...  Some investors worry the Fed's super low Funds R

A shower of home purchases sure sweetened the real estate market in April, as  Existing Home Sales gained 0.6% for the month, hitting an annual rate of 4.97 million units. This put them up 9.7% over a year ago, reaching their highest sales pace since November 2009,  when they were helped along by an $8,000 homebuyer tax credit. No government largesse is needed now to lure buyers, and the median price of an existing home is up 11.0% from a year ago, the supply at 5.2 months. April was a sweet month for new home purchases too.  New home sales were up 2.3%, to a 454,000 annual rate, and are now up a solid 29.0% versus a year ago. The faster sales pace meant that a 5,000-unit increase in inventories did not push out the 4.1 months' supply. W ith the number of completed new homes at a record low,  buyers are moving quickly.  The  median new home selling price is up 14.9% over a year ago .  In addition, the FHFA index of prices for all homes financed by conforming mortgages was up 1.3%

First-time home buyers aren't the only ones struggling to get financing.  The small real estate investors with whom they compete for starter homes and distressed sales face limits imposed by lenders and federal regulators that are tougher than what owner-occupants have to deal with. About one out of every five homes for sale is bought by investors, but the total would be significantly greater if investors could qualify for lower-interest loans and overcome restrictions placed on them by lenders.  Most investors (59.5 percent) finance more than half the cost of the properties they buy, according to a 2011 survey by Move, Inc.  Yet they do not qualify for the record-low mortgages rates available to owner-occupants, and must find commercial financing at significantly higher rates.  According to an August survey of investors co-sponsored by BiggerPockets.com and Memphis Invest, lower interest rates would make 70 percent of investors more willing to invest in additional properties.

Bank Pre Foreclosure! Approved and ready to sell. Excellent investment opportunity. 1875 sq ft, 3 bedrooms, 2 bathrooms, 3 bonus rooms that could be bedrooms, Family room & Living room. Nice kitchen & dinning room. RV parking, Large fenced 0.18 AC yard. Tool shed. Own for under $100k. Call Justin Thayer for current price @ 541-543-7287

Last week I saw a restaurant review on a local blog that touted “The New York Times s ays   . . .” and I thought, wait a minute, the Times didn't “say” anything, somebody that works for the Times did!  One person, one opinion, not the entire staff and their collective opinion, but one individual.  Invoking the mighty Times just because the reviewer works for the NY Times, transfers the credibility and credentials of the institution to the individual and turns an individual opinion into a powerful endorsement. When someone refers to this writing, chances are they will say; “forbes.com said ” and not “ Mark Greene  said on forbes.com   .  .  .”  See what I mean?  “Who’s Mark Greene” is replaced with the towering credibility of the forbes.com brand.  Unknown uncertainty instantly transformed into concrete factual evidence. The mortgage lending business is hyper-competitive and mortgage originators come in all forms of education, training, experience and affiliation. With 25 years

Step 1,  the federal government has to stop implementing creative mortgage financing solutions to help consumers buy or refinance homes.   Step 2,  everybody, everywhere should channel all thoughts, conversation and energy towards creating jobs, political people, entrepreneurs, corporate soldiers, ma and pa, everybody.  And Step 3 , eliminate the insanity and chaos in the afraid-to-make-a-mistake mortgage industry. Starting with a robust housing market as the desired result, and working backwards through the maze of barriers to achieve that end, we need to establish a framework from which we can launch this initiative.  Last, we will need an efficient and reliable mortgage financing industry to provide a means to facilitate home purchases.  Mostly, since quality mortgage loans require a predictable income stream as a source of repayment, most commonly from wages from permanent or reasonably permanent employment, jobs will be vital to this framework for getting the housing market bac

Isaac Newton, the father of modern physics, was an odd duck. Despite his almost relentless devotion to the practice of the scientific discipline, Sir Isaac spent a good deal of his leisure time dabbling in the field of alchemy — the pseudo-science that is focused on discovering a way to transform base metals such as lead into gold. Never mind that actually discovering a way to do this would undermine the very basis of the value proposition for gold, he and many other intellectuals of his time were hellbent on solving the problem (ostensibly so that, at least for a time, it would feel good for a while). Were Sir Isaac to be alive today, he’d be delighted to learn that the ability to manufacture value out of nothing finally has arrived. All you need to have is the reins of a Central Bank in your hands, and a printing press at your disposal. Today, the future of the world’s nations and economies no longer respond to the whims of presidents, premiers and chancellors. It responds to

An ugly week in the MBS market has moved mortgage rates up.  Statements by the Fed and its leader, Ben Bernanke, regarding the time frame for easing back on the MBS stimulus known as QE, were considered by investors to be a thumbs up on current economic growth.  Essentially, if the Fed is so optimistic about the speed of recovery, that it's willing to pull back on the stimulus much earlier than previously indicated; then investors definitely want to be taking advantage of the potential increases in the stock markets.  So, they moved their investment funds from the bond markets to stocks, which drove the bond markets down and interest rates up. That's an extreme simplification of what went on this week, but how much do you really want to know?!  A reality check is due, and it's likely that mortgage rates could get somewhat better over the coming weeks.  Maybe not a lot better, but better.  Our economic growth rate is not stellar, and there is stil

This is important and fixing it will not be a problem if you know who to contact. If this has happened to you in Lane county Oregon I can help! Justin Thayer 541-543-7287 TRINITY, Fla. - More and more short sales are turning up as foreclosures on credit reports. The issue caught the attention of Senator Bill Nelson who this week asked for a federal investigation into why the mortgage industry does not have a separate credit reporting code for short sales. Like some of his Trinity neighbours, George Albright unloaded his underwater two-story thru a short sale.  A short sale damages credit versus a foreclosure that slashes consumer scores. It's been more than two years since Albright sold his home, and now's he ready to buy again, but can't.  It’s showing up as a foreclosure on his credit. Veteran mortgage broker Pam Marron found it's a scenario repeating itself over and over again.  Short sellers discover they can't get back into the housing market b

The luxury home market is gaining momentum, with prices rising and many areas where upscale housing once struggled now turning into a seller’s market, according to the Institute for Luxury Home Marketing. “Prices have been trending up fairly strongly since the beginning of the year,” Laurie Moore-Moore, the institute’s founder, recently told the Chicago Tribune . “Inventory has been tight, though we're starting to see a little growth in inventory again. It's not stock-market driven, not necessarily. When you look back at the housing-market downturn, the low point probably was in 2007. Typically, a downturn would be driven by high mortgage-interest rates, but this time it was the whole real estate market that crashed. And at that time, the number of wealthy people in America actually declined, and the number of wealthy households is an extremely important driver of demand.” But by 2010, there were nearly as many wealthy households as before the downturn, wit

Banks have paid less than half the $5.7 billion in cash owed to troubled homeowners under nearly 30 settlements brokered by the government since 2008, delaying help to the millions of victims of discrimination and shoddy lending that epitomized the housing crisis, according to a Washington Post analysis of government data.

The Ins and Outs of VA Loans Realtypin.com Author:  James Paffrath May 07, 2013 If you are Active or Retired Military and considering purchasing a home, one type of financing you should look into is the Veterans Affairs loans (or “VA loans”), which can be issued by qualified lenders. This type of loan is intended for American veterans, or their surviving spouses, to help them purchase a home or provide a second mortgage.   This type of loan has much better benefits than traditional loans. Many times, the loan amounts are much higher than that person would normally qualify for with a Fannie Mae or conforming loan. With a VA Loan, the monthly payment can be close to half of the person’s monthly income, instead of the typical quarter of the monthly income. Furthermore, these types of loans usually not require any down payment or a limited down payment to qualify.    How do you know if you’re eligible?   These loans are intended for American veterans who meet a minimu