Just the facts..

Not politics, just the facts.

Well by now, everyone has figured out that the “Tax Deal” cut by both parties in Washington DC, hurt the middle class worst of all. You see, by eliminating the PMI deduction on an individual’s taxes it only affected the middle and lower income segment of the population.  Then we added one basis point to the loans, equaling about seventeen dollars a month on the average mortgage. Keep in mind PMI only comes into play on homes under the FHA guidelines in most cases, making it a tax on the one’s that can least afford it.

The deal was struck to extend a pay roll tax cut till February 2012, that’s right February 2012! Meaning the tax cut will eventually go away, but the “DEAL” never will. The deduction and the increase in fees are here to stay in perpetuity.  Both parties needed a way to get into the homeowners pocket and hiding it in a payroll deal seemed like a winner.  

The homeowner is under assault by banks and politicians alike, make no mistake they view the homeowner as their next source of revenue.

We have already had to fight to keep home purchases tax free and every year local taxing authorities seek to overvalue more and more properties in order to move agendas forward.

Bank of America has ceased refinancing  their own mortgages. One of the main reasons is the government won’t insure a refi now, so they don’t want to touch the best loans they have in their portfolio, who are current and on time. They were made whole by billions in Tax payer dollars and yet refuse to lend money to the best credit risk clients they have. Whatever happened to good ole banking?

Some of the larger banks have established their own “appraisal pools” under the new lending guidelines and consistently under value appraisals by having “extreme” appraisal guidelines in place to place a value on the property. In effect, stealing from the home owner.

How do you fight back?

*Well for starters, remember your real estate agent is on your side and wants to preserve your home ownerships rights and privileges.

*Independent lenders are also on your side as well as most insurance agents.

*Also, this may surprise you, but appraisers are on your side. That’s right the independent appraiser is on your side. They don’t like requirements placed by the big lenders being inserted into the guidelines, they are professionals and, most know how to do their jobs.

Notice who is not on this list? That’s right, politicians or large bailed out banks! While some, like            Citi Bank are getting out and doing a great job of adapting, most are no longer a viable option when it comes to lending. Banking is taking a step back in time, to a time when you know your banker and he knows you and I think it’s a great thing. As far as politicians, well that’s your choice, but I want one who protects my largest investment, not one that taxes it. But, you make that call, after all it’s your home

Do you work for yourself or not?

Everyone thinks they have a business of their own when they go into real estate. However very few actually do and they become comfortable in employee type relationships that hold them back and impede their growth both personally and professionally.  In most cases they have one, or most of the following going against their growth.

·         Competing broker that has the ability to control the leads or calls that come into the office.

·         No training to develop their own leads or business.

·         No freedom to adjust commission to accommodate the “deal.”

·         A resistant attitude towards new thinking.

·         A franchise that has lost ground in the market for years.

·         A franchise that is billions in debt.

·         Not being able to brand yourself. Everything revolves around the franchise name and not yours.

·         High office fees.

·         High office splits.

·         No 100% commission no matter how much you produce.

·         No cap on royalty.

·         No website just for you.

·         No profit share or open books.

·         Watch your broker and his family grows their business while yours shrinks.

·         Pay transaction fees and cancellation fees.

·         Have no voice in how the office is run.

I wonder everyday why any agent would settle for any of the above when they have an option.

Do you want to make more money?

Do you want an office and franchise that is growing?

Do you want training?

Do you want to have more freedom?

Then Give us a call!