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Rent Increases Expected to Continue through 2015

December 9th, 2014

Buy or Rent Rent Increases Expected to Continue through 2015

CNBC’s Diana Olick recently reported that rents in the residential housing sector continued to rise in 2014. She interviewed Jed Kolko, Chief Economist at Trulia, who revealed:

“Rents are rising because of strong demand that supply hasn’t kept up with. Nearly all the new households are renters, and young people moving out of their parents’ homes will keep fueling rental demand.”

Where are rents headed in 2015?

The question now is where rents will be heading over the next twelve months. In a press release last week, Zillow chief economist Dr. Stan Humphries predicted residential rental prices will continue to climb in 2015:

“Home value appreciation will continue to cool down, from roughly 6 percent now to around 2.5 percent by the end of 2015. But rents will see no such slowdown, and will continue to grow around 3.5 percent annually throughout 2015. As renters’ costs keep going up, I expect the allure of fixed mortgage payments and a more stable housing market will entice many more otherwise content renters into the housing market.”

However, those potential buyers must make a decision quickly because, as Kolko explains:

“Paying more on rent makes it harder for would-be homebuyers to save for a down payment.”

Bottom Line

Ryan Severino, a senior economist at Reis, in Olick’s article stated the obvious:

“Landlords should still be able to push asking rent increases on to their tenants.”

If you are thinking about buying a home in 2015 instead of continuing to rent, it probably makes sense.

Thanks to KCM blog for this post.

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How good does a new home feel?

November 13th, 2014

Z and A1 How good does a new home feel?This month we’ll start with a scary cute picture of Aria and Zander.  Aria just celebrated her 3rd birthday, I’m happy to report she now has every Frozen doll ever made, and at night, she lays them all around her bedroom with blankies on them and kisses them good night.  Amazing how strong the motherly instinct is.

Zander, on the other hand, is only concerned with swords, guns, karate and beating up bad guys.  I keep asking him how many bad guys he’s run into this lifetime. “None, yet!” he says, “but I will be ready when I do!”  I have no doubt! What an adventure this parenting gig is!

Model How good does a new home feel?Hey, speaking of adventures, I recently built my first home.  It is an investment property, which we are using as a model home, but the process was cool and it made me realize how great a new home can feel.  To that end, I’d like to tell you about a couple of incredible renovation and construction loan programs we have:

Before and After1 How good does a new home feel?CHL Renovation Home Loan (for purchase or refinance)

This loan allows you to take out conventional financing (insanely low rates and low closing costs) without mortgage insurance.  You can either buy a new home or refinance your existing home, and fund the renovation of the property.  The loan limits are set by county and range between $417k and $625k.  The renovation component can be up to 50% of the value of the home, so if your home is going to be worth $400k after the renovation, up to $200k could be used to complete a massive renovation.

If you can’t seem to find the home you want in the neighborhood you want to live in, this is a great option.  Find in the right location and remodel it exactly as you want!

Home How good does a new home feel?CHL 1 x Close Construction Loan (for purchase or refinance)

This program allows you to build a new home or scrap and rebuild from scratch an existing home, with a loan amount up to $4M.  Our construction loan has no origination fees and rates are hovering around 4% on the 30 year and mid 3% on the 15 year.  What an insanely good opportunity to build your dream home and finance at historical low rates.

If you are considering buying, renovating or building, it would be my pleasure to tell you more about the solutions we have.

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2 more reasons to get your home loan here

November 7th, 2014

Ashley Jeana 2 more reasons to get your home loan hereWe hear from clients often that they are unhappy with how they have been treated by other mortgage companies. We’ve listened, and with that in mind, we recently added Ashley Garcia and Jeana Lanktree to our team as Personal Mortgage Coordinators. They are our clients’ single point of contact from submission to processing, through underwriting and all the way to the funding of your loan. We pledge to make getting a home loan a great experience for your clients by adding these caring professionals to our staff.

Here is what our clients had to say about their experience with us:

“Working with Josh, Matt and the Mettle Team has been an amazing experience. My family and I had almost given up on purchasing a home after 2 failed attempts due to us opening up a brand new practice the past 2 years. Not only did they make our new home purchase a reality, their service has been nothing but extraordinary. I would recommend them to any doctors, especially those who’ve recently opened a practice. They really do know their stuff when it comes to physicians and home loans.”
Dr. Richard Leung, D.D.S., Temple Dental Trails

“I have purchased multiple homes in the past and have not had a better experience from any prior mortgage company. Drake was responsive and personable throughout the whole process and was supported by a team that stepped in and knew what was going on anytime he was away. I enthusiastically recommend Drake and his team for anyone looking for a home mortgage.”
Dr. Jim Eaton, Radiologist, VA Hospital, Spokane, Washington

“I called Brandon Hatfield when another lender had denied our loan in underwriting because of my husband’s dental school loans. Brandon not only secured our financing with no hidden fees and at a great interest rate, but he did it so quickly that we were still able to close on time! Brandon and his team’s level of customer service far exceeded our expectations. Thank you, thank you, thank you!”
Kristin and Brett Stallings, DDS, Muscogee (Creek) Nation

Please give us a call today!

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Thank you for coming to our Pumpkin Patch Event 2014

November 5th, 2014

We had such a great time with all of you who came out to our Pumpkin Patch Client Appreciation Event on October 24 in Utah.

Pumpkin Patch 2014 winner Thank you for coming to our Pumpkin Patch Event 2014We had a costume contest for our younger guests, who were vying for an iPad Mini. It was a close one, but we selected our winner from some very clever and scary costumes – Ava Mott, daughter of Seth and Lindsay Mott is the winner of the iPad Mini. Congratulations, Ava!

Here’s a great two minute video highlighting the fun that was had by all!

Thank you to everyone who came out and got a pumpkin. Hope you can make it next year!

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