As many
of you know, I joined WJ Bradley in the middle of November. The
transition will enable me to better serve your clients through exceptional
customer service and an even wider product offering. I am looking forward
to a highly successful 2015 with you!
Unique Product Offerings with WJ Bradley:
- Jumbo
Financing up to 90% loan to value, up to $850,000 loan amount.
- Home
Is Possible 4% grant compatibility with FHA, VA AND Conventional financing
(Note: This product isn’t necessarily in the best interest of all buyers
so call me to set up a quick meeting to discuss when it is best to use the
product)
- Minor
escrow with holds for homes that need minor repairs (great for REO listing
agents)
- Non-warrantable
condo financing (in-house….not brokered!)
Financial Markets
Friday’s jobs report obliterated forecaster expectations by nearly 50,000, as
an estimated 321,000 jobs were created for the month of November.
National unemployment rate held firm at5.8%. Perhaps as or more
encouraging as the number of jobs created is the .4% increase in hourly
earnings. This merry jobs report has investors giddy on stocks and as a
result the Dow closed at 17,958. The price of oil is now trading around
$65 per barrel. The price of oil has a profound impact on the cost of
living so the combination of an increase in hourly wages and a decrease in the
cost of living concocts a highly successful recipe for robust economic
growth.
The draw-back to robust economic growth is rising interest rates.
Recently the bond market, specifically the Fannie Mae 3.5 coupon, has
experienced selling pressure. The lower oil prices have helped stave off
a steeper sell off so mortgage rates have stayed relatively stable in recent
weeks despite the rally in stocks.
Southern Nevada Real Estate Related Data
The past week’s BLM land auction indicated that developers are confident in
Southern Nevada real estate. The article states that it was the biggest
land auction since November 2005, as over 400 acres were purchased.
The first BLM land auction since the recession took place in
January, and only netted roughly 160 acres in sales.
http://www.reviewjournal.com/business/economy/blm-auction-shows-confidence-vegas-housing-market
PS- WJB has capacity
for closings before the end of the year. Give us a call if you have a
transaction that needs to close this year!
