Western Montana & Missoula Real Estate Blog & Area Information

Well, it's mid October and the weather man (person) says we could hit 100 degrees here in Tempe this weekend. This is the same weather channel where I see a list of snow showers and 30 degree temperatures in places like Minnesota. It is no secret that we have some amazing weather from November to oh, about May... The population should begin to swell around here any time now. This reminds me of some of the great options for people that we affectionately call "snowbirds." You know who you are...you can't take the heat but know where to fly South for the winter.

While there are MANY options available here, I thought I'd point out a couple for our winter visitors.

How about a great "furnished condo" in Sunland Village East?

This GORGEOUS Laguna 12 model has been well maintained and is being sold furnished! Seriously, all you have to do is bring a toothbrush and a desire to have some fun in the Arizona sun. The home has a very open and functional floor plan, lots of nice tile, tons of cabinet and storage space, one car garage and a nice patio that you can actually enjoy any time of day. What a perfect opportunity for ''winter visitors'' to take advantage of the great lifestyle offered by Sunland Village East ( a 55 plus community ).  Golf, tennis, clubhouse, tons of activities, etc. Make sure and look at the video! For just $135,000 it is a lifestyle you can truly enjoy.

Heck, when it gets hot, go back "home!" That's what a LOT of people do around here...

 

 

Not sure about where you want to spend all of your winters? You can rent something furnished, as well! Check out this GORGEOUS Scottsdale condo for just $1400.00 per month (seasonal rents- Long term rental rate is just $1,100 per month.) Probably gonna be a heck of a lot cheaper than one of the fancy resorts we have. This gorgeous 2bedroom 2 bath FURNISHED condo is spotless! Beautifully decorated, completely re-modeled and in a location that can't be beat. The unit has granite counters, stainless appliances, beautifully tiled floors, beautiful furniture and decor and is absolutely immaculate! The community boasts 2 pools, a spa, a dog park, well manicured grounds and a GREAT South Scottsdale location. Stay minutes from Old Town, the airport, Tempe Marketplace, Mill Avenue, Scottsdale Fashion Square, restaurants, shops, freeways, jobs, etc! There is even a nearby bus stop and a Trolley system to take you to Old Town Scottsdale! ** Take a look, it's gorgeous!**

 

Here, you can search for homes in the Valley of the Sun. If you have any questions, feel free to give me a call!

Nick Bastian, Tempe AZ Real Estate agent.

      Buying or Selling Real Estate?

            "Just Call Nick!"

        602-803-NICK (6425)

 

ADVERTISING – Those ads that seem too good to be true.

 

 

I have been in the mortgage business for 17 + years.  I have seen so much advertising when it came to mortgage companies and how many of the ads were misleading or just flat out lies.  Those companies advertising low rates that didn't happen.  This easily went on from 1992 to 2002. I always wondered why this wasn't regulated as strongly as it should have been.  I found out that some of these companies had 100's of complaints, yet they still operated for those 10 years. I think this is misleading and I call it Shark Advertising.  It's dangerously misleading, yet it worked for many companies, at the expense of the borrower.

 

 

 

If anyone has noticed, we haven't see as much advertising from mortgage companies or large banks in the last 18 months or so. I am now seeing a few mortgage companies advertise on the radio and as of lately, a few advertise on TV, especially ESPN. The ads are misleading because they appear to make you believe that it's being backed by the government.  (Miriam Bernstein made this comment below that explains this part..  - Comment # 30 -)Has anyone seen a few ads on tv that look like a news update, a spokesperson telling you about government funded programs or that the government is helping in sponsoring these programs. Yet if you read the fine print, it's a mortgage company, disguising this ad very carefully, spinning it as thought the government is putting this out to the public??

I am even seeing this more and more in such places as Facebook. Below are a few that I am seeing on Facebook now.

 

 

 

 

 

Here are some ads found on facebook and comcast.net. As you can see, these mortgage companies and or companies that are lead generators, make you think that the government is behind this.  Obama hasn't asked homeowners to refinance. The first one on the left, upper left, is from a company called Lower My Bills.  They sell leads to other mortgage companies, after they have gathered your information online. Then you have like 4 to 10 lenders call you, sometimes daily.

 

 

 

 

 

 

 

 

People on Facebook that give basic information – eye catchers to pull you in.

 

Here is a loan officer on Facebook that placed this on his Wall, to capture the attention of others. You just need to be aware of what you read. Sure, this can happen, but there are some unknowns not mentioned. And sometimes the loan officer will raise that unknown, so you can't obtain that great rate and get the next best thing.  Keeping in mind, it's not always about the Best Rate.  How service?  Integrity?  Educating the borrower? And so much more....  Please read : I want the same deal that my friend receivd...  &  Mortgage payment vs Interest Rate

 

 

 

 

Web Sites that are deceiving !!!!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As I explained in this blog post, deceptive web sites, here is a great example above. Doesn't this look like it could come from the USDA themselves?  But it isn't. It acts as a lead catcher, catching your info to call you and or sell you about USDA loans or any other type of mortgage loan. No Cost Obligation is mentioned on the site. - We always love to hear about free things, but are they free overall?

 

 

 

 

 

Here is a FAVORITE of mine !!!

 

 

 

 

 

 

 

 

 

 

 

I am sure many of you have seen this one on tv, FreeCreditReport.com. The commercial announces a free credit report. But at the very end, it says that you need to enroll in their Triple Advantage program.

A free credit report?  They have tons of commercials &  commercials cost money to display on TV. They also have like 3 to 4 different kinds of commercials and.  producing commercials cost money.

 

Well, I feel like an investigative reporter for the news. I filled out my info online, trying to see what I get. It says that it takes 3 to 5 days for me to obtain these credit reports from the 3 credit agencies. (giving my credit card #) And then there is a button that says, to obtain your 3 reports now, click here. Imagine that, it's asking for $24.95 now. See the 2nd paragraph on the left, highlighted in yellow?  It talks about the new Federal Law and I am wondering if that is what they are sending me now, because that is free. But from what I know, you have to go to annual credit report to get the free reports.

All 6 commericals - Free Credit Report.com

 

 

 

Conclusion :   Just be very careful of what you read and what says free, when it might not be free.  I always have said, someone has to pay for it from some where. Is it you?  Is it me who pays for it?

Overall....No matter what, consumers will fall for some of these ads.  It's called false hope.  Especially when desperate, you just want to believe that someone can help you.. or, that it's cheaper with them than the others.  thanks

 

 

• Shopping for mortgages - The Public Image of Advertising that is misleading !!!! - Part 1 of 2

• Shopping for mortgages - The Lending Trees of the World (lead generators) - Part 2 of 2

 

 

Advertisements - Is the grass greener on the other side?

 

 

 

                    

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Experience & Knowledge at its BEST !!!

 

 

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For more information on FHA loans, please go to this link. The FHA Expert

For more information about the 2009 Tax Credit for First Time Homebuyers : 2009 Tax Credit

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags!

 

 

Copyright © 2009 by Jeff Belonger of Infinity Home Mortgage Company, Inc

There are tons of first time homebuyers out there negotiating the best deal on their new home, and now it's time to get a mortgage.

Most of them only know how to ask one question:  What's the Rate?

We've been in the mortgage business for over 20 years - and the only thing most people know to ask is - "What's the Rate?" 

While that's a great question, it's kinda' like going into a shoe store and asking if they have any shoes in a size 9.  Just shopping the rate is not necessarily going to get you the best price.

And what is the best price anyway!?!  Most of the clients that call us speak to my husband, Steve.  The first thing he ALWAYS says is, "hey, thanks for calling!  So you were referred to us by (insert name of friend, co-worker, agent, builder)?  That's great! 

So, tell me a little bit about what you're trying to do."

I share an office with him - and after listening to him say this for like the 90th time I turned and looked at him saying, "THEY WANT TO BUY A FREAKIN" HOUSE!"  He wasn't amused.... but once calmed down he explained to me why he askes that question, that way (and why it will help you when shopping for a loan).

Most clients answer the question of what they are trying to do one of these ways...

• They want to buy or refinance but keep their payments at a certain amount
• They want to buy or refinance but they don't have a ton of cash to work with
• They want to buy or refinance but they can't verify all of their income
• They want to buy or refinance but they need it to happen in like 5 days
• They want to buy or refinance but they think they have some credit issues

Each of these items will help the loan officer determine which mortgage program (like those different kinds of shoes) will work for you!  The PROGRAM will then help us get to a mortgage interest rate... and knowing your credit score and how much money you want to part with for closing costs will determine your rate.

So let's assume you figured out which program you are going to use to finance your home - YIPPEE!  One more step in the process!  Now you can just call loan officers and ask for their rate on that program and those terms with your credit and compare - it's not even that easy!

You want to be certain that you are working with an experienced loan officer.  The largest fianancial transaction of your life is far too important to place into the hands of someone who is not capable of doing more than just quoting you a rate.

So here are some other questions for your loan officer:

What's the next Economic Report coming out that might effect the direction of Mortgage Interest Rates?  A seasoned loan officer will have this information at their finger tips, and will know, for instance, that the FED says it will stop purchasing Mortgage Backed Securities in October of 2009, which could cause rates to go up...

When Bernanke and the Fed "change rates," what does this mean... and what impact does this have on mortgage interest rates?  The answer is not obvious.  The Fed has some impact over SHORT TERM rates, like those on your credit cards, however very little actions the Fed takes (especially recently) has created a lower movement of Mortgage Bonds.  Because of the "bad name" associated with Mortgage Bonds in the SubPrime market, fewer people are purchasing these bonds... That's why it's important to note that the Fed says it will stop purchasing Mortgage Backed Securities in October (If you have other questions about this just call us!)

Once you believe that you are working with a seasoned loan officer, there are other points to consider... If you talk to 3 lenders who all tell you the rates are at 5.25% and you talk to another person who says they are at 5%... well, you've got to question what that lower priced lender is doing.  For the most part, rates are rates.  The cost of money is pretty close to even across the board - so, if it sounds too good to be true, it probably is. There could be extra fees, or they could be quoting a rate that is only good for the next 12 days.

You get what you pay for!  If you are looking for the cheapest deal out there, understand that you are placing a highly important process into the hands of the lowest bidder. (If you've ever had a cheap haircolor job or a cheap haircut, cheap pair of shoes that KILLED your feet or fell apart  - you know what I mean). 

All too often, you don't know until it's too late that the cheapest isn't BEST.  Remember that missed closing dates in NC can now mean a FINE to the buyer.  Most "internet companies" do not operate in the State of North Carolina and do not know our laws - or even how we close loans. 

If someone mentions closing at the Title Company - you know you're dealing with someone who's not from here, and some delays and differences in quoted closing costs and actual closing costs will likely occur.

Understand that Interest Rates and Closing Costs go Hand in Hand.  When someone asks me for a rate - I ask them which one they want.  I'm not being sarcastic (well, okay maybe a little) but we have interest rates from 2% to 10%.  It depends on the program and the amount of money you want to pay out of your pocket. 

Many first time homebuyers want the smallest amount of closing costs (so they can buy a hot new leather sofa!) and will therefore take a slightly higher interest rate - so that the lender pays the closing costs.  A professional lender will be able to offer the bst advice and options in terms of the balance between interest rate and closing costs that correctly fits your personal goals.

So our advice is to be smart.  Ask questions... but don't just ask what the rate is! 

Call Steve and Eleanor Thorne 919-649-5058.  We've been mortgage Lenders in North Carolina with the best mortgage rates for decades!