Are you on the fence?

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Have you been wondering how the change in interest rates will effect your monthly payment if you were to buy a house right now? We contacted Lonnie Knob at Guaranteed Rate to find out for you.  Lonnie stated that rates have increased on average approximately  .5% since November, swinging the pendulum from a long standing “declining” or “stable” rate environment to one forecasting mortgage rates on the rise.

What does this mean for you?


Example: If you obtained a home loan for $300,000.00 and took into account the following factors (for informational use only and not a commitment to lend):

75% Loan-To-Value
760+ credit score
30 Year Fixed Loan

Here’s what you could expect to see in regards to your payment difference with a .5% higher rate*:

3.5% (3.555% APR)– $1,347/month (principal and interest)
4% (4.058% APR) – $1,432/month (principal and interest)

The monthly payment increases by $85/month, paid to interest
The yearly difference would be $1,020/year higher, paid to interest
The higher rate equates to approximately $30,600 over the life of loan (30 years) in increased interest payments!

With interest rates and property values continuing to rise, it’s still a great time to lock in a historically low rate to improve the overall affordability of your home purchase.  Click here to use the Mortgage Calculator to estimate your mortgage payments quickly and easily. View matching homes in your price range at MavesGroup.com

* sample payment does not include taxes and insurance, actual obligation would be higher

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Lonnie Knob
Vice President of Mortgage Lending
Lonnie.Knob@rate.com
o: (970) 446-7893
c: (970) 270-2584
f: (773) 328-1900
480 W Park Dr, Ste 203,
Grand Junction, CO 81505
NMLS 236548
COMLO 100022706

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Innovation vs. Marketing in Real Estate

I recently ran across this article on Forbes.com

As a real estate professional I am constantly balancing my innovative ideas with marketing and how my branding and marketing can go hand in hand. Having a marketing background it is easy for me to go over the top with my marketing ideas. However, recently I was told one of my “awesome” ideas was not as easy to produce or as cost effective as I had anticipated (aka hoped!). Does that mean I’m not going to do it for my client? No, in fact it drives me even more to make it happen because I truly believe in the power of innovative marketing. To successfully represent your client these days it takes much more than just general real estate contract knowledge. Oh how the times have changed since I was first licensed 12 years ago! 

I’ve thought about the skill set that I use daily for my clients and it looks something like this:

This is very generic and definitely just a snapshot of my business. This varies greatly depending on the specific client and transaction needs. Working with Buyers always requires much more local market knowledge and negotiation skills than marketing and innovation. Listing more unique properties requires much more marketing and innovation. Your property is unique, the marketing should be equally so!

Here is what I recommend when considering hiring a real estate agent. Ask them what they do that is innovative. How will they market your property to SELL it? How do they utilize social media? Ask for specific examples of unique marketing they use. Ask for the most difficult contract they have dealt with recently and how they overcame the issues. Often times it takes innovation to hold a deal together! Ask about their last deal that fell apart. You can always learn a lot about a person from their failures and what they learned from them. How do they plan on dealing with potential appraisal issues? (Yes, there are still appraisal issues. Anybody that tells you otherwise is a liar) 

This quote is from the Forbes article and 100% sums up my philosophy…

“What can I do today to provide my clients with a greater advantage or benefit, to get them closer to the ultimate result they desire?”

Once you have interviewed everybody else, give me a call and let me show you the true power of marketing and innovation! There is a difference, it is tangible and solid!

Kelly Maves 970.589.7775

What Does the Shutdown Mean for Real Estate?

Mesa County Real Estate Agent Blog

As we enter the second week of the government shutdown many people are wondering what it means for them. Although there have been many news reports on how this effects the real estate industry I thought I would give you a first hand, local perspective. As a real estate professional here is what it means for me. 

I am a bad news first type of person. So here it goes… in our area we have what is commonly known as a RD loan, which is “Rural Development” through the US Department of Agriculture. The USDA department that handles these types of loans is shut down. This is the ONLY type of loan that a buyer would be unable to obtain during the shutdown. 

Now for the good news! And there is a LOT of it! If you are looking at getting a Conventional, FHA or VA loan which probably 98% of people are… you still can! For the most part my business is proceeding as “Business as Usual”. In fact interest rates have stayed the same, if not even gone down slightly since the shutdown began! I know you hear it all the time… now truly is a good time to buy and a good time to sell! Low inventory and strong sales numbers this makes for good opportunities for both buyers and sellers! 

Contact Kelly with the Maves Group for more info or to see if now may be the time to buy or sell for you!

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