Provided by
Bob Howe


Residential First Mortgage
4685 MacArthur Court, Suite 300
Newport Beach, CA 92660

Phone: 949-852-0400 x219
Toll Free: 800-633-3411
bhowe@orangecountylender.com
 

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U.S. Treasury Bonds
Maturity Yield Last
Week
Last
Month
5 Year 4.75 4.76 4.69
10 Year 4.78 4.79 4.73
30 Year 4.90 4.93 4.84

Market Summary: 
The market napped through the session with only the 5-yrs having the determination to bust out a 2.5 basis point range while the other slackers across the curve keep things pretty tight. The data & official rhetoric free day saw sluggish trade ("action" would be a completely inappropriate word choice) that was aiming higher the market was dragged down by upcoming supply & the apathetic showing in late overseas bond trade. There was doom & gloom from some market mavens looking for trade to stagnate through year end with one unexcitable dealer noting, "Fed's out of the way, data will continue to be mixed or mediocre," & another adding that the 10-yrs "seem pretty comfortable around the 4.8% point." The curve was trading a flat-line as well, but made a late session push to more inverted territory in week-end unwinding with the 2-10-yr yield spread heading out near the week's deepest at -8.5. The dollar ended the week on the defensive with the euro up at 1.2621 a low of 1.2504 while the yen is stronger at 118.6350 from 119.35. The dollar index slipped from 87.08 to 86.27. The buck's weakness follows 3 weeks of solid gains which saw a breakout of trendline resistance & has now come back to test those levels as support. Next week will be critical in convincing the markets it was not just another false breakout. Spot gold held just above early Mon prices of 593.75 to close out the week at 592.40 (-7.00) while Dec's new front month crude oil contract was knocked down to 59.32 (-1.18). Next week brings the FOMC, GDP & housing data along with a run of other reports.

 

Economic Indicators for this week that could impact the mortgage or real estate markets include...

Existing Home Sales

Oct 25
Durable Orders Oct 26
Initial Claims Oct 26
Help-Wanted Index Oct 26
New Home Sales Oct 26

What is "Home Staging" and How Does it Help Sell My House?

"Home staging" is not a new term, but for many homeowners and real estate agents the concept of "professional home staging" is shedding new light on how to promote a home in the real estate marketplace. In past years, homeowners were left to their own discretion as far as preparing for home showings. Though they could occasionally rely on an agent for instructions, more often than not real estate agents were just as perplexed at working out the details as the homeowner.

While agents are experts in the field of selling and closing, many are not design savvy. Agents usually know exactly what factors can help sell a home. It’s just not always easy to get a home into selling condition in a timely manner without some sort of experienced assistance.

Professional home stagers are practiced in the art of preparing a home for resale. They work with the "flow" of a home, eliminate clutter, edit and arrange furniture, and even assist in enhancing curb-appeal. With the aid of a professional home stager, your house can make a notable first impression on potential homebuyers.

First Impressions

As the real estate industry often stresses, the first impression is the key factor in selling your home. Typically a potential buyer has made up their mind ten seconds after they step in the front door. They were already forming an opinion as they pulled into your driveway! That really doesn’t leave too much room for fault.

To achieve the greatest possible outcome, a home should always be presented at its best the first time around.

Finding a Professional

You find and select a professional home stager much like you would find any other professional service. Ask around and get referrals. Check with your real estate agent. A number of larger real estate companies offer access to a listing of professional home services in your area. These individuals and companies have often already been pre-screened by the real estate agencies or their agents.

How Much Does it Cost?

When you contact a home stager, ask for an estimate. Most home staging businesses will be happy to give you a free estimate and it is usually a quick process. Keep in mind that this is only an estimate and estimates can be a bit off. However, unless something unforeseen takes place between the estimate and the actual job itself, an estimate should be fairly accurate.

Get several free estimates and make some calculations. Just like any service, pricing in the home staging industry can vary over a wide range. Some charge an hourly rate and some will charge you a set fee for the entire job. Be sure to ask how they determine their fee so that you can make an educated decision. Also, factor in the condition of your home, the average amount of time homes have been on the market in your area, and the asking price of your home.

Asking price can play a huge factor in what a homeowner should be willing to pay for staging services. Some professional home stagers bring in rented furnishings, driving the price up considerably. Some simply charge too much to make it pay off. A lot of home stagers seem to forget that their clients are planning on moving out of the house very soon. Most home sellers are not willing to invest a huge amount of cash in a house they are planning on leaving behind.

Find out up front what the stager is planning to bring in and at what cost. Though expert services do come at a price, the cost should balance with the expected benefit of a higher selling price. As a rule, the higher the asking price of the home, the more one can spend to have it professionally staged.

Agent Participation

In some instances, it makes sense for a real estate agent to contribute to the cost of professionally staging a home. For the most part, an agent should be able to determine if a home is in need of this type of service, and if it would be of benefit or not. If you know it would be in the homeowner’s best interest and if you know that something will need to be done before the home is listed, it might be wise to set aside an amount of your marketing budget for staging. If it’s a reasonable fee, it is usually a worthwhile investment. It could certainly make all the difference in your showing.

One should consult with a qualified real estate professional prior to implementing any real estate strategies.

If you are a tax, insurance, financial or financial planning professional receiving this newsletter, please call our office and introduce yourself to us. We are always seeking to grow our referral network and expose more service professionals to our client base.

 

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Bob is a full service mortgage professional at Residential First Mortgage.  The company is approved with numerous lending sources throughout the state.  He provides conventional, non conforming, jumbo, FHA and VA loans. He assists customers with great credit, bad credit and no credit. Bob can also assist individuals who are self-employed and require both full documentation and no documentation loans. He can assist individuals and professionals with their financing needs whether buying, selling or refinancing real estate.   If he can be of assistance or to be added or removed from his distribution list, contact him at the telephone numbers provided or email him directly.  Your request will be immediately honored.

 Contact Information: Direct: (949) 852-0400 ext. 219  |  Fax: (949) 440-6849

Click here to e-mail Bob Howe: bhowe@OrangeCountyLender.com 

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