5 Simple Steps for Achieving Your New Year's Resolutions
Each new year is full of promise and potential. Perhaps that's why so many of us choose this time of year to make positive changes in our lives.
And, believe it or not, achieving your goals can be easier than you think. The following 5 steps can help you get started and follow through!
1. Set realistic goals. The first step to your successful New Year's resolutions is to set realistic goals for the coming weeks and months. You can start by focusing on the things you're passionate about or the things you've always wanted to do. Maybe it's a worthy cause you want to become involved in…or maybe you want to kick a habit that's bothered you for years. If it's something that you're passionate about, you'll have a better chance of being successful. Once you have the topic, make sure you write down a specific, attainable goal. It's not enough to just think about doing something. Come up with a specific statement you want to achieve. For example, the most common resolution is to lose weight. But that's not specific enough. Write down exactly how much weight you want to lose and by when. But make it realistic…and healthy at the same time.
2. Make a simple plan to achieve each goal. Once you have your goals written down, take the resolution a step further by figuring out how you'll achieve it. That means breaking the goal down into simple steps that you can achieve over time. And, often, it means multiple little steps. So, for the weight loss resolution, you may write down a number of simple, daily or weekly steps - such as exercise 20 minutes three times a week, eat vegetables and fruit with each meal, switch to diet cola or better yet water during the day, and lose a certain number of pounds per month. Remember to consult a physician before starting any weight loss or exercise routine to make sure you're approaching it in a healthy manner.
3. Announce your goals. One of the best ways to make sure you stick to your goals is to make them known to your friends, coworkers, and family members. The reality is, once you've told people you'll do something, you'll feel more accountability than if you just keep it to yourself. You'll also have a cheering section to help you stay focused and positive as you work to achieve your goals. But don't just share your goals; share the specific steps that you're going to take each day or week to achieve those goals. If you use any social media websites to connect with friends and family, make your goals and steps part of your daily/weekly updates…it's a great way to get the word out and hear feedback from people who want to help you stay on track.
4. Track and celebrate your progress. Small steps aren't just about making your way to a goal; they're also about building momentum, a positive attitude, and celebrating successes along the way. There are a number of ways to track and celebrate your success. For example, if your goal is to work out 20 minutes a day three times a week, you can use a marker and a calendar. Each day you work out, simply color that day in green (or another positive color that you like). As the month unfolds, you'll see more and more green covering the calendar, which will help you see just how much work you've done and keep you motivated to keep going. In addition, you can also use social media to track and celebrate your success. Maybe you tweet or update your Facebook status every time you exercise. Or maybe you announce when you've lost a few pounds. The point is, you've already announced your goals to friends and family as a way to hold yourself accountable, now it's time to celebrate with those same people every time you achieve a step along the way.
5. Don't get discouraged. You're bound to have good weeks and bad weeks. Just because you fall off track once or twice doesn't mean you should give up. Instead, acknowledge that you had a bad day or week, figure out what happened to throw you off track (maybe it was a busy or stressful week), and then make a plan to overcome the problem if it happens again. For example, if you had a tough week at work that required you to work late and miss the trip to the gym, make a plan to be proactive the next time work gets busy. Perhaps you make a plan to walk during your lunch break or wake up early to do jumping jacks and push-ups before heading into the office. But…whatever you do…don't give up on your goals or yourself. Review your plan and recommit yourself to those simple steps. You can even use social media to acknowledge a mistake and commit to overcoming that problem in the future. That way, you'll have a new sense of accountability and support from your friends and family.
Best wishes to you in achieving all your goals and dreams this year. And if your New Year's resolutions involve any financial or housing matters that I can help with, please call or email today. I'll be happy to help out in any way that I can.
CJ Baxendale Mortgage Loan Officer NMLS ID # 564370 Arvest Bank Mortgage Lending Office: 405-366-3053 Mobile: 405-570-6535 Fax: 405-366-3068 Email: cbaxendale@arvest.com ______________________________
Take advantage of my 25 years experience as a real estate professional in Central Oklahoma. Call me now for a consultation if you are considering buying or selling real estate property in the near future.Larry MinsonCell 405-820-9506Email: lminson@cox.net
Despite what you might have heard, bankruptcy is not a barrier to refinancing your current loan or new homeownership. After bankruptcy, you're actually encouraged to take on new debt in order to build credit. Unfortunately though, this new debt used to build credit will be closely scrutinized and those looking to refinance or buy a home after a bankruptcy are bound to face many challenges.
Read on to learn how to prepare your finances for a refinance or new home loan after you've filed for bankruptcy.
Refinance or Loan PreparationWith old debt wiped from your record, you'll have the ability to begin building a new, responsible financial history. Prepare for a refinance or home loan by:
Reading your credit reportYou're entitled to a free credit report from each of the credit rating agencies. Make sure that your credit report accurately reflects the outcome of your bankruptcy proceeding. It may take the credit reporting agencies some time to catch up. If you find that one of your accounts still shows as open and overdue when it shouldn't, then contact the credit bureau and prove to them that those accounts should be 'included in bankruptcy.' Acquiring and use a secure or unsecured credit cardSecured credit cards are a great alternative for someone who needs desperately to rebuild their credit, however you should never charge more than you can pay. Sign up for a secured credit card through a bank or another organization willing to extend a secured credit card offer. These credit cards are different from unsecured cards in that there is not a major risk for the lending institution.You may not qualify for an unsecured credit card right away. Check periodically to see if you qualify for an unsecured credit card and acquire one as soon as available to build credit. Paying bills on timeTake on debt and practice responsible debt management by paying bills on time. This is the single best thing bankruptcy filers can do to build up their credit rating.
Reading your credit reportYou're entitled to a free credit report from each of the credit rating agencies. Make sure that your credit report accurately reflects the outcome of your bankruptcy proceeding. It may take the credit reporting agencies some time to catch up. If you find that one of your accounts still shows as open and overdue when it shouldn't, then contact the credit bureau and prove to them that those accounts should be 'included in bankruptcy.'
Acquiring and use a secure or unsecured credit cardSecured credit cards are a great alternative for someone who needs desperately to rebuild their credit, however you should never charge more than you can pay. Sign up for a secured credit card through a bank or another organization willing to extend a secured credit card offer. These credit cards are different from unsecured cards in that there is not a major risk for the lending institution.You may not qualify for an unsecured credit card right away. Check periodically to see if you qualify for an unsecured credit card and acquire one as soon as available to build credit.
Paying bills on timeTake on debt and practice responsible debt management by paying bills on time. This is the single best thing bankruptcy filers can do to build up their credit rating.
Your credit score should no longer be adversely affected by the bankruptcy filing after two years of credit build and repair. Work with your Country Home Lending Source mortgage professional to ensure you're ready to start the refinance or home loan application process.
Refinance or Loan Application ProcessWhile you might qualify for a loan, the interest rate on a home loan might be relatively high when compared to lower interest rates being offered.Don't be discouraged, work with your Country Home Lending Source to learn how to combat high interest rates including a large down payment to keep the loan small and how to ensure the loan does not impose a prepayment penalty. This allows you to refinance your home loan at lower rate as your credit rating improves.
If you are looking to refinance your current high interest rate, have your Country Home Lending Source mortgage specialist pull your credit scores and your equity position and payment history all at once before discussing your loan options. If you have less than 40 percent equity in your home, it will be much tougher to qualify for a refi. Ask your mortgage specialist to update you on the available home refinance options and help you determine whether or not a refinance is the right move for your current financial situation.
Keeping You InformedCountry Home Lending Source mortgage professionals are dedicated to keeping you informed of the latest market trends and mortgage options. Visit Country Home Lending Source online at http://homeloansokc.com, or call us today at 405-360-1995, to obtain custom loan options designed to fit your needs and help you obtain your home goals.
Call Larry Minson with Old Town, Realtors if you have been thinking about buying or selling a home. You'll receive my 25 years experience in real estate sales and service for central Oklahoma.
Approximately 11 million homeowners, many of whom have fallen victim to the easy financing and artificially inflated housing prices, owe more than what their home is worth. Underwater homeowners have been unable to qualify for any refinance relief; but with the recent changes made to the Home Affordable Refinance Program (HARP), those homeowners in deep debt can now lock in a new, more management mortgage rate.
Read on to learn if you qualify for HARP and/or to learn how it can help you take advantage of today?s desirable mortgage rates.
What significant changes have been made?
In addition to the HARP changes for borrowers, lenders will also experience some welcome modifications. Under the revamped HARP, lenders would have the opportunity to be released from certain liabilities on the original loans if they refinance those loans through HARP. Discuss the new HARP guidelines with your Country Home Lending Source mortgage professional by calling 405-360-1995. Do I qualify for HARP?Unfortunately only those mortgages sold to Fannie Mae and Freddie Mac on or before May 31, 2009, are eligible for refinance under HARP. Borrowers must also be current on their loans and have no late payments in the last six months. If you don't fit into this category, don?t fret, you can still take advantage of the current low mortgage interest rates. Work with your Country Home Lending Source mortgage professional to identify the mortgage or refinance program options that fit your financial situation.
In addition to the HARP changes for borrowers, lenders will also experience some welcome modifications.
Under the revamped HARP, lenders would have the opportunity to be released from certain liabilities on the original loans if they refinance those loans through HARP. Discuss the new HARP guidelines with your Country Home Lending Source mortgage professional by calling 405-360-1995.
Do I qualify for HARP?Unfortunately only those mortgages sold to Fannie Mae and Freddie Mac on or before May 31, 2009, are eligible for refinance under HARP. Borrowers must also be current on their loans and have no late payments in the last six months. If you don't fit into this category, don?t fret, you can still take advantage of the current low mortgage interest rates.
Work with your Country Home Lending Source mortgage professional to identify the mortgage or refinance program options that fit your financial situation.
Keeping You InformedCountry Home Lending Source mortgage professionals are dedicated to keeping you informed of the latest market trends and mortgage options. Visit Country Home Lending Source online at http://homeloansokc.com, or call us today at 405-360-1995, to obtain custom loan options designed to fit your needs and help you obtain your home.If you decide you may want to sell your sell your home and buy another instead of refinancing, call Larry Minson with Old Town, Realtors at 405-820-9506.
Five Items to Consider When Shopping for a Rental Property
Low prices and the abundance of properties on the market are not only inspiring renters to take the necessary steps to becoming homeowners, but are also enticing many current homeowners to become property investors. According to experts, the cost to rent will spike 7% or so in each of the next two years to a national average that will top $800 per month. With plenty of bargain properties on the market and an increase in demand for rental housing on the horizon, now is the perfect time to purchase a rental property.
Investing in and maintaining a rental property is not an easy task and may be daunting for the first-time investor. Investment property ownership can be filled with surprises that can sap your returns. Before starting your search, take a look at the top five items you should consider when shopping for an income property.
Property TypeAs a landlord, it's important to find a property and a neighborhood that will attract your ideal tenants. Residential, single-family homes seem to be the best investment value as they attract families and couples that are typically responsible and financially stable.
Condominiums also offer good value, are less expensive than single family properties and require minimal maintenance. Majority of condo property upkeep is covered by the complex's home owners association, saving both time and energy. Talk to your Country Home Lending Source real estate and mortgage professional to discuss the appreciation potential of both property types and decide which best fits your financial situation.
NeighborhoodsWhen searching for properties on your own or with your real estate professional, take the type and quality of the neighborhood into account. For example, if you buy in a neighborhood near a popular vacation spot or near a university, chances are that your pool of potential tenants will be mainly seasonal vacation-goers or students, meaning you will face vacancies on a fairly regular basis.
Amount of Listings and VacanciesThough many vacancies in the neighborhood may signal a seasonal cycle, it may also indicate the neighborhood isn't desirable. Do your research and work closely with your Country Home Lending Source real estate and mortgage specialist to gather market trend information on the neighborhoods you're interested in.
Property TaxesProperty taxes vary from city to city, and as an investor planning to make money from rent, you want to be aware of how much will be lost on taxes. High property taxes can sometimes be justified if the neighborhood offers many desirable amenities. Talk to the homeowners within your desired rental neighborhood, or contact your Country Home Lending Source real estate and mortgage specialist to learn the tax information.
Average RentKnow the average rent in your desired area. Work with your Country Home Lending Source mortgage professional to determine your monthly financial commitment for the new purchase and calculate whether or not the rental property will cover your expenses. If charging the average rent doesn't cover your full mortgage payment, taxes and other expenses, then keep looking.
Once you've narrowed down your rental property search to the house, condo or apartment unit that will provide the best value and a positive projected cash flow, keep your expectations realistic. Real estate investing doesn't start with buying a rental property; it begins with creating the financial situation where you can buy a rental. Make sure that your finances are in a healthy enough state to weather the waiting period before the property starts creating projected cash flow. As with any investment, consult the experts, make careful choices and weigh the costs and benefits of your actions before diving in.
Keith SiessCountry Home Lending SourcePhone: 405-360-1995 Fax: 405-360-1697 Email: keith@homeloansokc.com______________________________
Call me at 405-820-9506 and I'll be happy to talk with you and help any questions you may have.
Larry MinsonOld Town, RealtorsCell: 405-820-9506Email: lminson@cox.netFacebook: www.facebook.com/larryminsonrealtor
Homeowners look to close before jumbo-conforming loan limits are lowered. News of mortgage rates hitting all-time lows and falling home prices have dominated headlines for many months and many homeowners have already taken action on locking in their rate. Those haven?t and are looking to refinance a big mortgage may want to act quickly.
The maximum amount for jumbo-conforming loans, which are mortgages that vary between $417,000 and $729,750 and can be sold to Fannie Mae and Freddie Mac, will be reduced to $625,500 on October 1st. Read on to learn more about the jumbo loan changes and whether or not your loan is affected.
What are Jumbo Loans? In most (but not all) U.S. counties, any mortgage loan of more than $417,000 is a jumbo loan. Jumbo loans often carry higher interest rates, more stringent underwriting guidelines and may also require larger down payments.
Who Is Impacted? According to the National Association of Home Builders, the decreased jumbo limits will affect more than 200 counties, and about 1.38 million owner-occupied homes would be pushed outside of the jumbo limits allowed by Fannie and Freddie. Those shopping properties in some of the more high-cost areas such as San Francisco, Los Angeles, New York, New Jersey and Washington will most likely feel the effects of the limit change and may experience a tougher time closing if the purchase price is $750,000 to $1 million. Contact your {Company Name} mortgage specialist to discuss your mortgage and whether or not you'e impacted by jumbo loan limit change.
Act Now Though housing industry lobbyists have asked Congress to extend the current limits for another year or two, many borrowers and they're mortgage professionals are pushing to close by the September 30th in order to dodge the lower jumbo loan limits. Closing prior to the drop in jumbo loan limits could mean an interest rate difference of a full percentage point or more. Determine whether refinancing or purchasing an expensive property is an option by contacting your {Company Name} mortgage professional.
What If I'm Too Late? Those who aren't able to obtain a jumbo loan priced at a conforming rate may still be able to find affordable financing for the home of their dreams. Once jumbo loan limits drop from $729,750 to $625,500, fewer buyers will qualify for expensive properties, which may continue to drive more property price reductions. Call your real estate professional, Larry Minson (405-820-9506) with Old Town, Realtors and/or Keith Siess with Country Home Lending (405-360-1995) to discuss your home purchase/lending options.
Country Home Lending Source mortgage professionals are dedicated to keeping you informed of the latest market trends and mortgage options. Visit Country Home Lending Source online at http://homeloansokc.com, or call us today at 405-360-1995, to obtain custom loan options designed to fit your needs and help you obtain your home goals.
August 29, 2011
What program is best for first-time buyers?
Let us prequalify your customers and help determine which program suits them.
NCRC $5000 grant monies are still available and can be partnered with any type of loan.
OHFA State bond money is available at 4.75% with a 3.5% Down Payment Assistance
Cleveland County Bond is at 3.95% + 1 point with a 3% DPA
Mortgage Credit Certificates are still your best program to lower your customers Federal Income Tax.
Interest Rates are LOW!
How can we help you?
For more information, Call Larry Minson withOld Town, Realtors orAnn M Swanson MLO#689581 or Carlee Suchy MLO#689583with McClain Bank
Your Lender That Keeps You Informed!!
McClain Bank #571129
2900 W Lindsey St
Norman, OK 73072
405-447-7283
Fax 405-447-2113
aswanson@mcclainbank.com
The Federal Housing Finance Agency (FHFA) has released its seasonally adjusted purchase-only house price index (HPI) for the second quarter of 2011 and for the fourth consecutive quarter it reports that those prices declined nationwide. The HPI measures prices recorded for repeat home sales using Freddie Mac or Fannie Mae mortgages. During the period which ended June 30 there was a deterioration of national home prices of 0.62 percent. During June, the last month in the current reporting period, however the HPI did rise 0.9 percent. Over the last four reporting periods the HPI has dropped 5.9 percent and, at the end of June was down 18.8 percent from the price peak reached in April 2007. A second index, the all-transactions HPI which includes refinancing as well as purchases, decreased 1.9 percent in the second quarter and is down 4.5 percent over the last year. The four-quarter decline in home prices over the last four quarters stands in contrast to the prices of other goods and services which rose 4.5 percent during the same period resulting in an inflation-adjusted change in the price of purchased homes of -10 percent in one year.The seasonally adjusted purchase-only HPI declined from the first quarter to the second quarter in 31 states and, over the last year, only three states have recorded any home price appreciation, Oklahoma (+0.28 percent), North Dakota (+3.87 percent) and the District of Columbia (+12.23 percent.) The largest price decrease over the last year was reported in Arizona (-14.91). Idaho, Georgia, Nevada, and Oregon all had one year negative price changes in the 13 to 14 percent range.Oklahoma Association of Realtors
This week's economic calendar is light but the impact could be big:
New Home Sales will be released on Tuesday. This report comes after a drop in Existing Home Sales, Housing Starts and Building Permits. It would be nice to see some improvement - but the market expectation isn't high. Gross Domestic Product for the 2nd quarter will be released on Friday, and investors will be waiting with bated breath for signs of weakening in the US economy. The initial read for Q2 came in low. If the second read is weak, Stock markets could move a leg lower and give Bonds a boost. But the report isn't released until Friday, so Stocks and Bonds will fight for investing dollars throughout the week. Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result.
As you can see in the chart below, Bonds and Home loan rates improved last week but tapered off a bit on Friday. Stock markets fell once again last week on fears of a double-dip recession. That coupled with a plunge in the Philly Fed Index along with weak housing numbers fueled a rally in the Bond markets that saw Mortgage Bonds hit fresh 2011 highs before giving up some of those gains on Friday.
Overall, however, home loan rates are still at some of the most attractive levels ever seen - making now a great time to consider a refinance or home purchase.
Provided byCJ BaxendaleMortgage Loan OfficerNMLS ID # 564370 Arvest Bank Mortgage LendingOffice: 405-366-3053Mobile: 405-570-6535Fax: 405-366-3068Email: cbaxendale@arvest.com
That question from Alicia Keys' song was one many traders were probably asking, after a week where we saw a massive and historic selloff in Stocks and rallies in safe-haven instruments like Treasuries and Gold. What happened and what does all of this mean for Bonds and home loan rates? Read on for details.
Standard and Poor's downgrade of the United States' credit rating from AAA to AA+ late Friday, August 5th led to an especially volatile week, with the Dow Jones Industrial Average falling over 600 points and the S&P 500 Index experiencing its worst day since December 1, 2008-and that was just on Monday! The extreme volatility continued through the week, including Tuesday after the Fed released their Policy Statement, which was rather downbeat on the economy. In fact, Fed Chairman Ben Bernanke said, "Economic growth so far this year has been considerably slower than the Committee had expected."
So where does our economy go from here?
The incoming economic data will be under a microscope, as global markets try to decipher if the US (and the world) is slipping back into a recession, or just experiencing a slow patch. If economic reports here in the US show even modest strength and an improvement from the recent weak news, Stocks could retrace some lost ground, which would come at the expense of Bonds and home loan rates. We saw some of this happen late last week, after Initial Jobless Claims fell below 400,000 for the first time in weeks and Retail Sales for July had their biggest increase in four months.
That being said, the current and ongoing concerns out of Europe should continue to provide a safe haven bid into the US Bond market... and this will help Bonds and home loan rates. But as you can see, with so many if's, about the only thing we can be sure of is more volatility.
Wherever we go from here, the key takeaway is that RIGHT NOW, home loan rates remain near some of the best levels we've ever seen. If you've been thinking about buying or refinancing a home, give me a call or send me an email to learn how you can take advantage of this situation. Or forward this newsletter on to someone you know who may benefit.
Nationally, we are currently enjoying the lowest interest rates since 1970. These are the best rates I've seen in the 25 years I've been in the real estate business in Norman, OK.
Are you ready to buy? What's holding you back? Buying may be simpler than you think it is. Call or email me for a no hassle, no committment, no strings attached consultation.
Don't catch yourself in the near future wondering why you didn't take advantage of these fantastic interest rates when you had the chance.Larry MinsonOld Town, RealtorsCell 405-820-9506Email: lminson@cox.net
10 Best Places to Buy Home
The Best Places To Buy A Home Right Now Nathan Vardi and David Whelan, 05.09.11, 10:41 AM EDT
The 10 best places to purchase a home in America are mostly in the heartland, reflecting the coastal nature of the housing boom and bust. None of the best places to purchase a home are located on the West Coast in states like California, Oregon and Washington, not to mention Nevada and Arizona.
There are, however, places in the center of the U.S. that figure to be great for home purchases. In Oklahoma, Oklahoma City and Tulsa are both energy belt areas with strong economic fundamentals and housing markets that have been steady for years. And at 4.1% Lincoln, Neb., has the lowest unemployment rate of any metro area in the nation, and it's falling. All three cities are in the top 10.
Nathan Vardi and David Whelan, 05.09.11, 10:41 AM EDT
The 10 best places to purchase a home in America are mostly in the heartland, reflecting the coastal nature of the housing boom and bust. None of the best places to purchase a home are located on the West Coast in states like California, Oregon and Washington, not to mention Nevada and Arizona. There are, however, places in the center of the U.S. that figure to be great for home purchases. In Oklahoma, Oklahoma City and Tulsa are both energy belt areas with strong economic fundamentals and housing markets that have been steady for years. And at 4.1% Lincoln, Neb., has the lowest unemployment rate of any metro area in the nation, and it's falling. All three cities are in the top 10.
Why Title Insurance? | Why an inspection? | Why Choose Me! | Contact Us | Curb Appeal List | Setting the Sales Price | Get the Highest Price | Selling your own home | Free Home Valuation | Find A Home! | Your FICO score | Closing Costs | Get Pre-qualified | Inspection Tips | Home Buyer Checklist | Environmental Issues | News | Real Estate Glossary | Selling Your Home | Area Homes | Our Featured Homes | Home | Applying for a Loan | Loan App Checklist | Locking in Rates | Search Area Homes | Heart of the Matter | 9 Steps to Owning | Mold in the Home | Site Map | Mortgage Calculators | Your Dream Home | 9 Steps to Ownership | How to Sell Your Home | Staging Your Home | Winterize your Home | Reasons Homes Don't Sell | Be Accessible! | Buying Foreclosures/REO's | The Listing Contract | Contingencies in Contracts | Listing Commissions | Gated Communities | Flowers Add Curb Appeal! | Improvements That Pay | Fixer Uppers
Copyright © 2012 Old Town, REALTORS®Portions Copyright © 2012 a la mode, inc.Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site MapAll rate, payment, and area information are estimates and approximations only.