Homeownership: Still the American Dream
Recently, I heard a quote by Warren Buffet that said, “Be greedy when others are fearful, and be fearful when others are greedy.” This made me realize the great opportunity there is in Real Estate right now. If you’ve been contemplating that first home, or making a possible move, now is the time. We’d love to have the opportunity to assist you, a friend or family member in getting them into the home of their dreams. I came across the following article that helps us all realize what a great investment a home really is. It was written by Steve Harney, mortgage and real estate advisor. We hope you enjoy the read.
“There seems to be a long held American belief currently under attack. For over two hundred years, homeownership in this country was a desire of almost every American family. Recently however, more and more people have been pontificating on the fact that owning your own home should never have been held in such high regard.
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Economy on the Mend?
Over the past year it seems like all we’ve heard in the news is nothing but the status of the economy. Is it getting better or is it getting worse? We always hear conflicting comments and ideas. Recently, I read this article and thought I’d share it with you. I’ll forewarn you that it’s a lot of statistic, but if you take a minute and read through it, you’ll realize that Utah is in pretty good shape in comparison to other states. I hope you enjoy!
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What’s in Store for Mortgage Rates?
I can’t think of an easier year to predict the direction of interest rates than 2010. It is safe to say that mortgage rates will be higher this year than they were in 2009. Unfortunately for homeowners and the real estate markets, the days of a 4.5% 30 year fixed rate mortgage cannot last forever.
In November of 2008, the Federal Reserve allocated $1.25 trillion towards the purchase of Mortgage Backed Securities. As of January 15, 2010, $1.137 trillion of this budgeted amount has been spent. By March 31, 2010, the entire $1.25 trillion is scheduled to be depleted. Once the Fed steps out of the market, the likelihood of higher rates is probable. Read the rest of this entry »
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Looking for the Home of Your Dreams?
Does the Home of Your Dreams come with an Extra Incentive?
Fannie Mae is offering a 3.5% incentive for buyers who purchase and close on a Fannie Mae-owned home between January 28 and April 30, 2010. To read more and gather more details simply read the flyer below. In addition, feel free to contact us to see if the home of your dreams is owned by Fannie Mae and would qualify for this program! Read the rest of this entry »
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How Do Interest Rates Move?
If you’ve ever wondered how interest rates work? Take just a few minutes and watch this great video. It’s a very simplified version of how interest rates move UP and DOWN in this very volitale market. You’ll get a small taste of what we monitor each and every day. Enjoy the video!
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Knowledge is Key!
Now I stumbled upon this video courtesy of our friends at Think Big Work Small. They took a clip from a hearing on Capitol Hill with Federal Reserve Chief Ben Bernanke. We’ve taken the liberty to post this video here, to show you that Knowledge is Key in any industry, but especially ours. You’ll clearly see that the Representative that is challenging Mr. Bernanke has no knowledge of what rates affect what. The scary part is that these Representatives are representing you and I. Now we know that many don’t know the difference between the Federal Funds Rate and the Discount Rate, but when you are at the highest levels of our government, you’d hope that they would have acquired that knowledge. Enjoy the Video! (Remember to turn the volume up just a bit.)
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Thank You! Thank You!
In addition to providing you with sound mortgage advice, every now and again we’d like to share with you raving reviews of products that have made our lives and this website work and thrive. We hope you enjoy!
We’ll begin with Wordpress, what a phenomenal product! If you’ve never heard of Wordpress, you’ve been missing out. We first started using wordpress on our very first blog and quickly decided to roll it over to our website. If you want to get a taste of what wordpress is like go to www.wordpress.com and get yourself a FREE blog and check it out.
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Coming Soon….Real Soon!!!
As you can see we are in the process of redesigning our website. Give us just a few more days to finalize everything and get it up and running for YOU. If you are still a bit curious about the Scott Phippen Lending Team go to www.thescottphippenlendingteam.wordpress.com until we finalize everything here. We are looking forward to the new look and feel.
Don’t forget to check back in a few days to check out the look and feel.
Scott Phippen and Team