COVID-19 MORTGAGE MARKET CHANGES

The past 45 Days have been a slow creeping nightmare that we all wish we could wake up from. COVID-19 has disrupted any sense of normalcy. And, it looks like the way we live now, will be our new normal. What does this mean for the Mortgage and Real Estate Markets? 

Well, let’s start with the facts first. As of today 5/3/20 the FHLMC 30 Yr Mortgage Prime Rate is still hovering at 3.23%! These are absolute historic low!! Throughout history, we, as a country, have never seen rates quite this low.. It’s UNPRECEDENTED, UNHEARD OF! Therefore, if you are in a position to buy a home, CEASE this opportunity!!!  The low rates are producing high volume for refinances, which means, that if you need a job and have any type of real estate finance or mortgage experience, guess what? Banks are hiring!! They’re begging people to come to work with such high demand. 

Second, this current market...it’s the new normal. Yup, you hear it right, there’s is No going back to the way things were. Who remembers the 2008 Mortgage Crisis Recession Crash?  Banks have had 12 Yrs  to learn from mistakes. They’ve spent this time making sure that their risk management practices were tough so that when a crisis like this hit, they’d survive. Bear Stearns and Lehman Brothers Anyone? Right, no one even remembers who they are anymore. The big banks aren’t sweating as much because they’ve spent all that time in the stance of  “in the unlikely case of” scenarios. 

Thirdly, Qualifying standards are tightening. On 4/11/20 JPMC announced that they would only approve loans with borrow who had a 700 Credit Score or Above. What does that mean for our Home Buyers? You will have to make sure your financial affairs are in line and order because the only way to get approval through this lender is having an A+ Credit Score.

 Does that mean Buyers who have credit scores under 700 can't get approved?  No, it just means they'll have to find a lender that services that market range.  

Finally, the Sellers have had to make some adjustments. As Realtors we’ve added a new COVID-19 Addendum to extend contracts in case the virus has had an impact of the closing date being pushed out. Will your house still sell? Absolutely! It may just take a little longer than planned considering the current circumstances. If you are considering selling & haven’t listed the property yet, you may want to consider your states guidelines on the Shelter-In-Place Policy. This will have an impact of your final outcome. Your home will still sell. You just may need to exercise some patience in the process. 

5.5.12, My Fabulous Mentors;-)!

Wow, here are some memories of us from 06-07 when I first met her and Staci, and Dee! I can't believe it's been this long since I have Seen them. I'm excited!

Be love,
Rashida

Dr. John Gray On Staying Love And The Importance of Dealing With Negative Emotions

3.7.12, Dr. John Gray On Negative Emotions Importance

Repost


Chopra Center Radio Interview with Dr. John Gray 8/11/11

"Negative emotions are a part of the authentic self also. But, they are messages that are starting to tell you that something is off. They are letting you know that your are losing connection with your soul. You are losing your authentic self. its the signal to let you know that something is wrong. So, you can take heed and get back in line with the authentic you. "be good feel good do good"....when we Start to fall off balance and you are believing something that is not true, that is the indicator which is what brings you back into balance. The awareness of negative emotions is always important.

There was the illusion that enlightenment would mean equanimity with no negative emotions. What enlightenment is, is an astute clear aware conscious of negative emotions so you can quickly bring yourself back into balance. Its kind of like walking on a tight rope, if the wind blows even a master will tip, but then he comes right back to balance. The key is to be able to know when your are tipping so you can come back into balance rather than to continue tipping and fall over.


what u can feel u can heal...how do u work through the emotional blocks that keep u from being a loving person. Working through the dark knight of the soul? once you are there people thinks that is it. No, That is the illusion. Now that you are there with consciousness a white screen every unresolved issue from childhood to adulthood begins to come forth. It does not eliminate your suffering it makes you aware of your suffering. Buddha talks abt the first step of enlightenment is higher conscious until you become 1 with the all and from that place you can no longer ignore that is inside….Going to the feelings is not just enough...but going through them and processing them, working through your feelings and reconciling them back to a place of greater insight hope, greater forgiveness, and greater love; Training the self to go through that process and get back to a state of true authenticity is where the treasure truly is. 

It was a journey that he had to go through so that finding the ability to love in relationships, which later allowed him to gain gender intelligence. Then seeing that the things we consider to be a snake is really just a stick. And, its a golden stick. Its a blessing its something that we can gain from."

xoxo

This Tim Sykes Guy...BS or No BS?!

ITS FAB FINANCE FRIDAYZ FOLKZ!!!

So I started studying markets a little over a yr ago when I took my 1st finance course at Harvard for my Master's. I found this guy in I want to say late January Early February, I've been watching him all year and paying attention to what he does and the jury is still out on whether or not using his strategy are the est approach to take...I'm a newbie so I'm in no rush to solidify a strategy quite yet. 

I will say that the guy upon first interactions (I.e. Watching his videos and things like that makes me think on Kanye West's Song Toast To The A** Holes lol). he rambles a lot so it's challenging to focus on The meat of his message, which is trying to figure out his Startegy or strategies so that you can understand it. On many occasions when trying to view his videos I ah e found myself saying, "Mannnn get to the Effin point" lol...and of he keeps on rambling I end up turning him off because it becomes kind of irritating. 

However, if you can get past the blatant rudeness of how he comes off and listen to him you'll realize he's pretty damn smart and half way knows what's he talking about. 

It took me a couple of months to get past the rude behavior I finally started to open up more around Julyish. Anyway, I wanted to repost a blog he wrote wednesday to give you and me both an idea of what he's talking about. 

You can become a challenge student, after looking around it cost like $5k not so sure I'm willing to spend $5,000 on someone I'm not so sure of that "might" have an ROI...I don't maybe my money lol 

I've been in The finance Game calculating risk way too long to make immature calls like that. So, I'll keep watching him and studying in my spare time and if I eventually believe he is 300% worth it I may do it. 

XOXO

see Post: 

http://www.timothysykes.com/2014/11/favorite-facebook-post-ever/

HAPPY VETERANS DAY!!!

HAPPY VETERANS DAY TO ALL THE MEN AND WOMEN WHO HAVE SERVE AND CONTINUE TO SERVE OUR COUNTRY! 

#FREEDOMISNTFREE 

#WESALUTEYOU 

#POW/MIA