Trivia: Fred Swanton who became mayor of Santa Cruz from 1927-1929 was one of the founders of the Boardwalk. As he promoted Santa Cruz and the Boardwalk he was quoted in the Santa Cruz Sentinel in 1906: “Pajaro Valley has its apple crop, Santa Clara its prune crop, Fresno its raisin crop, Bakersfield its grain crop and Santa Cruz has its crop of home-seekers and tourists.” And so it is today!
Real Estate: In August of this year the Santa Cruz Association of Realtors reported only 137 SFR sales plus 44 condominium sales. In August of 2006, there were 43 condominiums plus 185 SFRs sold. That represents a 20% year over year decline in sales for the month of August.
Sales Corner: Given the fact that there were only 181 sales in August as reported by the Santa Cruz Association of Realtors and that those sales were sprinkled over approximately 1600 agents, it goes without saying that mortgage originators should be staying in touch with their databases to mine potential refinances. Refinances that are within conforming limits ($417,000 for SFR; $533,850 for 2 units; $645,300 for 3 units; $801,950 for 4 units) are easier to get approved and much lower in rates than jumbo loans.
Hot Tips: Full Doc Pricing at Stated Income Documentation
• Up to 95% CLTV $717,000 Loan Amount
• 700 fico
• Fixed and ARM products.
• Purchase or Rate and Term
• Owner Occupied
Please call us for details, and to price out your deals.
www.santacruzhomefinance.com
Wednesday, October 3, 2007
Monday, September 24, 2007
September 17, 2007
Trivia: The fishing industry in Santa Cruz, which was developed in the early 1900s, produced fish for both the local market and the San Francisco market. Whole fish were transported to San Francisco packed in ice. Annual shipments were reported to reach 3,000,000 pounds!
Real Estate: According to the Santa Cruz Association of Realtors’ website, there were just 137 home sales in August. That is considerably low when compared to past August sales. August home sales in Santa Cruz County have averaged 217 for the past 12 years!
Sales Corner: Current news is like a hot bagel: it has much less value if you wait. Tomorrow the Fed will be making a much anticipated announcement. Listen carefully to what the Fed says about inflation (and, of course, what cut they make). That news should break around 11:15AM tomorrow. Be the first to find out what is said (www.money.cnn.com is one source) and then communicate it with your agents, referral sources and clients.
Hot Tips: Stated/Stated
• Purchase & Rate/Term 95% Max LTV/CLTV
• Cash Out 75% LTV/CLTV
• 40 Year Term & Interest Only
• Owner Occupied, Second Home, and Investment
• Fixed Rate 2nd available up to $350,000 Loan Amount
Please call us to price out your deal.
www.santacruzhomefinance.com
Real Estate: According to the Santa Cruz Association of Realtors’ website, there were just 137 home sales in August. That is considerably low when compared to past August sales. August home sales in Santa Cruz County have averaged 217 for the past 12 years!
Sales Corner: Current news is like a hot bagel: it has much less value if you wait. Tomorrow the Fed will be making a much anticipated announcement. Listen carefully to what the Fed says about inflation (and, of course, what cut they make). That news should break around 11:15AM tomorrow. Be the first to find out what is said (www.money.cnn.com is one source) and then communicate it with your agents, referral sources and clients.
Hot Tips: Stated/Stated
• Purchase & Rate/Term 95% Max LTV/CLTV
• Cash Out 75% LTV/CLTV
• 40 Year Term & Interest Only
• Owner Occupied, Second Home, and Investment
• Fixed Rate 2nd available up to $350,000 Loan Amount
Please call us to price out your deal.
www.santacruzhomefinance.com
September 24, 2007
Trivia: We all know tourism is important in Santa Cruz, but did you know that tourism really became a force here after the railroad was built through the Santa Cruz mountains in the late 1800s and began two round trips a day to Santa Cruz. In 1879 Harper’s Weekly featured Santa Cruz as a new resort town. Today, some 3 million visitors a year come here to play.
Real Estate: In the last 5 years, the gross value of real estate in the United States has gone up 62%; in the same period the outstanding debt of mortgages has gone up 79%! (Source: Federal Reserve).
Sales Corner: Last week’s Fed move (0.50% cut in the Fed Funds Rate); the corresponding drop in the Prime Rate and the concurrent increase in 15 and 30 year fixed rates make for great topics to discuss with your current and past clients and referral partners. Give them a call today! Remember, news is like a hot bagel: it has much less value if you wait.
Hot Tips: Buyers’ Bonus Mortgage Program
· Builder/seller can pay up to 100% of the principle and interest portion of the monthly payment for up to the first six months.
· Either a home resale or newly constructed 1-unit primary residence.
· Fixed and ARM products.
· Up to 100% CLTV, and affordable lending options for FTHB available.
· Full doc, SISA, NIV.
Please call us for details, and to price out your deals.
www.santacruzhomefinance.com
Real Estate: In the last 5 years, the gross value of real estate in the United States has gone up 62%; in the same period the outstanding debt of mortgages has gone up 79%! (Source: Federal Reserve).
Sales Corner: Last week’s Fed move (0.50% cut in the Fed Funds Rate); the corresponding drop in the Prime Rate and the concurrent increase in 15 and 30 year fixed rates make for great topics to discuss with your current and past clients and referral partners. Give them a call today! Remember, news is like a hot bagel: it has much less value if you wait.
Hot Tips: Buyers’ Bonus Mortgage Program
· Builder/seller can pay up to 100% of the principle and interest portion of the monthly payment for up to the first six months.
· Either a home resale or newly constructed 1-unit primary residence.
· Fixed and ARM products.
· Up to 100% CLTV, and affordable lending options for FTHB available.
· Full doc, SISA, NIV.
Please call us for details, and to price out your deals.
www.santacruzhomefinance.com
Tuesday, September 11, 2007
September 10, 2007
Trivia: The theory is that the original Flatiron building (1860-1989) was shaped to be able to accommodate both Front Street and Pacific Avenue (formerly Willow Street) because its owner, Hugo Hihn, wanted to be in position to be on the primary commercial strip, once it was established. Apparently, Front Street was once going to be the main street of downtown. By the way, many of these trivia tips have come from the book: “Santa Cruz California” by Sheila O’Hare and Irene Berry.
Real Estate: The median price of a single family home in Santa Cruz County just inched up to its highest level ever: $790,000 for August! I hear that the reason is because more homes are selling at the high end (above $1,000,000). The previous high was set in November, 2005 at $789,500.
Sales Corner: ”Action is the friend of all successful people.” What action are you taking today to increase your success tomorrow?
Hot Tips: Eliminate the verification of income and assets.
• Fixed and ARMS available (with interest only option)
• Minimum credit score 680
• Loan amount available to $417,000
• Combo second available
Please call us to price out your deal.
www.SantaCruzHomeFinance.com
Real Estate: The median price of a single family home in Santa Cruz County just inched up to its highest level ever: $790,000 for August! I hear that the reason is because more homes are selling at the high end (above $1,000,000). The previous high was set in November, 2005 at $789,500.
Sales Corner: ”Action is the friend of all successful people.” What action are you taking today to increase your success tomorrow?
Hot Tips: Eliminate the verification of income and assets.
• Fixed and ARMS available (with interest only option)
• Minimum credit score 680
• Loan amount available to $417,000
• Combo second available
Please call us to price out your deal.
www.SantaCruzHomeFinance.com
September 4, 2007
Trivia: The former mayor of Santa Cruz created the boardwalk in 1904 when he transformed the 19th century bath house that was there into a casino and plunge. He then traveled throughout California and Nevada in private railroad cars provided by Southern Pacific Railway promoting the boardwalk and the “new Santa Cruz”.
Real Estate: Believe it or not the median price of a single family home in Santa Cruz County came in at $780,000 in July. The median price was $775,000 in July, 2006. The median reached a high of $789,500 in November, 2005.
Sales Corner: Knowledge is Power. “If you will spend an extra hour each day of study in your chosen field, you will be a national expert in that field in five years or less.” Earl Nightingale.
Hot Tips: Jumbo Stated Income Program
• Fixed and ARMS available (with interest only option)
• Minimum credit score 680
• Loan amounts available to 2 million
Please call us to price out your deal.
www.SantaCruzHomeFinance.com
Real Estate: Believe it or not the median price of a single family home in Santa Cruz County came in at $780,000 in July. The median price was $775,000 in July, 2006. The median reached a high of $789,500 in November, 2005.
Sales Corner: Knowledge is Power. “If you will spend an extra hour each day of study in your chosen field, you will be a national expert in that field in five years or less.” Earl Nightingale.
Hot Tips: Jumbo Stated Income Program
• Fixed and ARMS available (with interest only option)
• Minimum credit score 680
• Loan amounts available to 2 million
Please call us to price out your deal.
www.SantaCruzHomeFinance.com
August 22, 2007
Mortgage Market Update: We thought we should touch bases with you to assure you that all is not doom and gloom in the mortgage business. The current turmoil in the mortgage markets is not as bad as portrayed in the press. Conforming rates are dropping and approaching 6%, jumbo rates have gone up some but are still available. In addition, 100% financing (full doc), interest-only products and loans for borrowers with credit scores under 620 are still available.
Call your clients, Realtors, accountants and financial planners and assure them that you are alive and well and tell them what is really going on. Everyone wants to know.
Call us on your scenarios. We are approving and funding loans and want your business!
www.SantaCruzHomeFinance.com
Call your clients, Realtors, accountants and financial planners and assure them that you are alive and well and tell them what is really going on. Everyone wants to know.
Call us on your scenarios. We are approving and funding loans and want your business!
www.SantaCruzHomeFinance.com
August 20, 2007
Trivia: The SS Palo Alto, was a cement ship designed as an oil tanker. It was built in Oakland in 1919 but was too late to serve in World War I. It was then purchased by Seacliff Amusement Company, towed from Oakland to Seacliff Beach in 1930, where it was purposely sunk to serve as a ballroom and fishing pier.
Real Estate: The rising number of foreclosures in California has been big news but did you know that there were almost as many foreclosures in the 3rd quarter of 1996 (15,418) as there were last quarter (17,408)?
Sales Corner: Treat a mortgage as an important investment tool; it is not just a commodity. Show your clients how to convert wealth to capital.
Hot Tips: Listed property? We have a heloc for you.
• Full Doc- no reserves required
• Stated – two months PITI on primary and second home
• Six months PITI ( investment properties)
• 50% DTI
• Get paid on line amount not draw amount
*Property must currently be listed to qualify for this product. Call for pricing.
www.SantaCruzHomeFinance.com
Real Estate: The rising number of foreclosures in California has been big news but did you know that there were almost as many foreclosures in the 3rd quarter of 1996 (15,418) as there were last quarter (17,408)?
Sales Corner: Treat a mortgage as an important investment tool; it is not just a commodity. Show your clients how to convert wealth to capital.
Hot Tips: Listed property? We have a heloc for you.
• Full Doc- no reserves required
• Stated – two months PITI on primary and second home
• Six months PITI ( investment properties)
• 50% DTI
• Get paid on line amount not draw amount
*Property must currently be listed to qualify for this product. Call for pricing.
www.SantaCruzHomeFinance.com
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