Trivia: The Santa Cruz mountains provided massive amounts of timber around the turn of the century (1900). Most areas were dispassionately clear cut. It is fascinating to walk (or run) through Nisene Marks Park and observe the cut marks in the stumps of the old growth redwoods where the sawyers stood in order to operate their saws.
Real Estate: The Santa Cruz real estate market is cyclical like the rest of the country. We saw the last downturn in home prices in the 1990s. The average price of a home in Santa Cruz County fell from $263,000 in 1991 to $244,000 in 1994 and then recovered, big time, by hitting a record $835,000 in 2005.
Sales Corner: Spend one hour per day generating new business like your life depended on it!
Hot Tips: Check out our JUMBO 30 year fixed rates!
• Competitive rates for your “A” borrowers (680+, housing history, reserves)
• Owner occupied and second home loans up to $2 million
• Consider a prepayment penalty to improve rates even more
www.SantaCruzHomeFinance.com
Tuesday, September 11, 2007
August 6, 2007
Trivia: Tan bark oak trees were the source of tannic acid for the once thriving leather industry in Santa Cruz.
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: 5/1 hybrid ARM product offers the stability of a fixed period mortgage as well as the flexibility of multiple payment options like the PayOption ARM.
• Note rate stays fixed during the fixed period term.
• Four payment options give them more financial flexibility and control.
• Maximum deferred interest cap is based on LTV.: LTV >90% :110%, LTV< 90%: 115%
• 30 year and 40 year terms available.
Please 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: 5/1 hybrid ARM product offers the stability of a fixed period mortgage as well as the flexibility of multiple payment options like the PayOption ARM.
• Note rate stays fixed during the fixed period term.
• Four payment options give them more financial flexibility and control.
• Maximum deferred interest cap is based on LTV.: LTV >90% :110%, LTV< 90%: 115%
• 30 year and 40 year terms available.
Please call for pricing.
www.santacruzhomefinance.com
Monday, July 30, 2007
July 30, 2007
Trivia: The Cowell family was one of the wealthiest families in California. Henry and Harriet Cowell had no grandchildren and therefore the bulk of the family’s wealth eventually was given to the public domain. U.C. Santa Cruz and Henry Cowell State Park are two local examples.
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)?
investment tool; it is not just a commodity. Show your clients how to convert wealth to capital.
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)?
investment tool; it is not just a commodity. Show your clients how to convert wealth to capital.
Sales Corner: Treat a mortgage as an important Hot Tips: Several of our investors have adopted the new Interagency Guidance on Non-Traditional Mortgage Products, so be careful when qualifying your borrower at the interest only payments.
The Guidance defines non-traditional mortgage products as:
- Interest only products
- Adjustable rate mortgages with initial adjustments <60months
- Negative Amortization;
- Loans with a temporary buydown.
* Please call for more information.
Thursday, July 26, 2007
July 23, 2007
Trivia: ”The Mediterranean climate and salt water of Santa Cruz made it a natural location for turn-of-the-century therapeutic resorts. By 1864 hot saltwater bathhouses appeared on Beach Street offering rheumatism and neuralgia treatment.” This quote is from “Images of America Santa Cruz California” by Sheila O’Hare and Irene Berry.
Real Estate: People who keep statistics argue whether the median price or the average price is a better indicator. The average price is calculated by totaling the sales prices and dividing by the number of sales. The median price is that price where an equal number of sales occurred at a higher price and a lower price than the median. The median price of a single family home in Santa Cruz County in May, 2007 was $760,000 while the average price was $817,000. Quoted from Gary Gangnes’ website: ROR.com.
Sales Corner: Here is a tax tip that your real estate agents need to know: Home owners may only deduct the mortgage interest on their acquisition debt (the loan obtained when purchasing the property) plus the mortgage interest on an additional $100,000. If a home buyer pays cash for his principal residence, acquisition debt is zero; however, if he then refinances within 90 days after purchase, the new mortgage becomes acquisition debt. As principal is paid off over the years, acquisition debt decreases. Check with your tax advisor for details.
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: People who keep statistics argue whether the median price or the average price is a better indicator. The average price is calculated by totaling the sales prices and dividing by the number of sales. The median price is that price where an equal number of sales occurred at a higher price and a lower price than the median. The median price of a single family home in Santa Cruz County in May, 2007 was $760,000 while the average price was $817,000. Quoted from Gary Gangnes’ website: ROR.com.
Sales Corner: Here is a tax tip that your real estate agents need to know: Home owners may only deduct the mortgage interest on their acquisition debt (the loan obtained when purchasing the property) plus the mortgage interest on an additional $100,000. If a home buyer pays cash for his principal residence, acquisition debt is zero; however, if he then refinances within 90 days after purchase, the new mortgage becomes acquisition debt. As principal is paid off over the years, acquisition debt decreases. Check with your tax advisor for details.
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
July 16, 2007
Trivia: Beginning in 1864 The California Powder Works converted wood to charcoal, mixed it with sulphur and Peruvian saltpeter and produced blasting powder. This famous Santa Cruz firm supplied a high quality blasting powder to supply the needs of the Civil War and other wars for the U.S. Government. This powder was also used extensively to blast rock to make way for the transcontinental railroad. In 1924 the site was sold to the Masonic Lodge and became today’s Paradise Park.
Real Estate: The median price of a condo in Santa Cruz County hit a high in June of $545,000. The previous high was $550,000 in August, 2006. The highest median price was $572,500 which was reached in January, 2006,
Sales Corner: I saw Chris Gardner speak in Las Vegas a few weeks ago. He wrote his autobiography, The Pursuit of Happyness, which was a #1 bestseller and then last night I saw the movie (now a rental) which was #1 at the box office. He overcame incredible obstacles to become a top sales person at Dean Witter and then at his own company. Once again there was no secret to his success, he was dedicated, worked hard (making 200 calls per day!) and was passionate about his profession!
Hot Tips: Check out our JUMBO 30 year fixed rates!
• Competitive rates for your “A” borrowers (680+, housing history, reserves)
• Owner occupied and second home loans up to $2 million
• Consider a prepayment penalty to improve rates even more
www.santacruzhomefinance.com
Real Estate: The median price of a condo in Santa Cruz County hit a high in June of $545,000. The previous high was $550,000 in August, 2006. The highest median price was $572,500 which was reached in January, 2006,
Sales Corner: I saw Chris Gardner speak in Las Vegas a few weeks ago. He wrote his autobiography, The Pursuit of Happyness, which was a #1 bestseller and then last night I saw the movie (now a rental) which was #1 at the box office. He overcame incredible obstacles to become a top sales person at Dean Witter and then at his own company. Once again there was no secret to his success, he was dedicated, worked hard (making 200 calls per day!) and was passionate about his profession!
Hot Tips: Check out our JUMBO 30 year fixed rates!
• Competitive rates for your “A” borrowers (680+, housing history, reserves)
• Owner occupied and second home loans up to $2 million
• Consider a prepayment penalty to improve rates even more
www.santacruzhomefinance.com
July 9, 2007
Trivia: In the 1830s Isaac Graham established one of the first American communities west of the Rocky Mountains, Roaring Camp in the Santa Cruz mountains. He was a fur trapper and nephew to Daniel Boone. He was said to have created the first highway in the west; it is now known as Graham Hill Road!
Real Estate: The median home price of a single family home in Santa Cruz County fell in June to $761,000 (the high this year was $784,500 in May). This is probably a reflection of fewer high-end homes selling.
Sales Corner: Two of the most important words in business are “Thank you”. Think of someone to thank for something and call them or send them a handwritten note today.
Hot Tips: Check out our JUMBO 30 year fixed rates!
• Competitive rates for your “A” borrowers (680+, housing history, reserves)
• Owner occupied and second home loans up to $2 million
• Consider a prepayment penalty to improve rates even more
Real Estate: The median home price of a single family home in Santa Cruz County fell in June to $761,000 (the high this year was $784,500 in May). This is probably a reflection of fewer high-end homes selling.
Sales Corner: Two of the most important words in business are “Thank you”. Think of someone to thank for something and call them or send them a handwritten note today.
Hot Tips: Check out our JUMBO 30 year fixed rates!
• Competitive rates for your “A” borrowers (680+, housing history, reserves)
• Owner occupied and second home loans up to $2 million
• Consider a prepayment penalty to improve rates even more
July 2, 2007
Trivia: In 1903 the City of Santa Cruz rejected the proposal to build a cement plant within the city limits because it was too “noisy and dusty”. The plant was ultimately built in Davenport in 1905. By the end of World War II (1945), the Davenport plant had become one of the largest suppliers of cement in the world, shipping 700,000 barrels of cement a day!
Real Estate: According to today’s Santa Cruz Association of Realtors’ website, the median home price in Santa Cruz County was $784,500 in May. That is down from the previously announced $790,000. The high for single family homes here in the county was $789,500 reached in November, 2005.
Sales Corner: ”Whether you think you can or think you can’t, you are right” was a famous (and noteworthy) quote by Henry Ford.
Hot Tips: Mortgage Credit Certificates (MCC) The MCC program is administered by the housing Authority of the County of Santa Cruz. The MCC is a FederalTax Credit program. An MCC provides a double bonus by possibly increasing the loan amount your borrower can qualify for and may increase their take-home pay. This program entitles the borrower to take a federal income tax credit of 20% of the annual interest they pay on their home mortgage. For more
information regarding the MCC program please give us a call.
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