Sean La Rue's Monthly Newsletter - What's up with this market? Vol 7 Issue 1

Hello Friends and Family,

You know interest rates are currently at an all-time low right now.  Find out for FREE if you can lower your monthly payments with little or no money out of pocket.  (See the newsletter below)

A few options are:

1. FHA Streamline – if you have had an FHA loan for more than 6 months and have an interest rate over 5.5% chances are you can refinance with no appraisal and little documentation.

2. Conventional refinances – lower your monthly payments with a lower interest rate. Or keep your payments the same and shorten your term. 15 year fixed are incredibly low right now.  Lower the rate and lower the amount of interest you are paying over time.  Own your home free and clear faster!

3. It’s a FREE consultation.  No obligation and you can make sure you’ve got the best terms for you and your family.

I want to help you save money!! Call me today for your free consultation at 760-837-1488 or email me at slarue@franklinlc.com

***It’s a great time to purchase a home as well.  Are you currently renting?  Could you pay the same or less to own your own home?  With low interest rates and how low home prices are right now chances are you could actually save money every month by owning your own home. Find out how much you can qualify for today.  Let me know if you know someone who needs a good lender for any California home purchasers.  We all need good team members and I’d like to be yours.***

If you can't see the newsletter, or would like to view it online, use this link If you have received this newsletter indirectly and would like to be added to our distribution list, use this link   Provided to you Exclusively by Sean K. La Rue “Your KEY To Moving Home!” Sean K. La Rue Senior Vice President Franklin Loan Center Office: 760-837-1488 Mobile: 760-835-5663 Fax: 800-784-9089 Email: slarue@franklinlc.com Website: www.SeanLaRue.com   For the Month of January 2012 --- Vol. 7, Issue 1     IN THIS ISSUE...           Despite what the Mayan calendar may say, the world probably won't come to an end in 2012. But like 2011, this coming year may bring some significant challenges here in the US...and around the world. Here are just a few important topics to keep an eye on in the new year: Working for a Living – The labor market made modest improvements in 2011…but what should you expect in 2012? Here’s the answer! Home Sweet Home – The housing market is still uncertain, but here’s something to celebrate! What to Watch – Inflation is extremely influential. Read the article below to discover what to watch in 2012. Q&A: The Bottom Line? – What’s the bottom line for 2012? The answer may surprise you! Best wishes to you and yours in the coming year. If you have any questions or would like to discuss your unique situation, call or email today. And please forward this newsletter to friends, family members and coworkers who may find the information helpful.     Working for a Living: The Labor Market in 2012           The mantra “I’m taking what they giving ’cause I’m working for a living” was made famous in the 1980s by the band “Huey Lewis and the News.” Today, the feeling is the same around much of the country as many Americans were able to find work in 2011. But we’re not out of the woods yet, as many more workers are still searching for employment. The labor market made modest improvements in 2011, and that trend is likely to continue in 2012. As you can see in the bar graph next to this article, the number of new people claiming unemployment each week saw a drastic improvement by the year’s end compared to the high reported the last week of April 2011. Recently, the number of new claims has stayed below the important line of 400,000 new claims each week. That’s a welcome site compared to most of 2011. That said, it’s a good bet that the official Unemployment Rate will remain north of 8% throughout 2012, as more gains in the private sector are offset by government jobs being removed with our belt tightening measures. Another factor to consider is that Baby Boomers who are headed into retirement will be removed from the labor force, and this continuing shift in our country's demographics will help add to the decline in the unemployment rate. Rather than looking at the official Unemployment Rate, which always brings up controversy due to its methodology, we should start looking at the labor force’s "participation rate," as this may be a more accurate reflection of labor market conditions. This rate is a little more straightforward, since it simply measures the number of people eligible to work against the number of people actually working. And get this: the current labor force participation rate is 64%, which represents the lowest level of eligible workers participating in roughly thirty years. One of the contributing factors to the decline in the rate is the aforementioned effect of the Baby Boomer generation retiring and leaving the labor force. However, that only makes up a portion of the decline in the rate as obviously, there are still lots of folks looking to "participate" in the workforce, but they haven't been able to find a job. With businesses still somewhat reticent to hire until they feel more confidence, estimates are for little to no improvement in the participation rate in 2012. This is obviously a very important topic not only for people looking for work but also for the economy as a whole. I will continue to monitor the labor market and its impact on housing and home loan rates over the coming weeks and months.     Home Sweet Home           On the one hand, the housing market still remains uncertain. For instance: Foreclosures will still be a concern in 2012 as a fresh wave will be hitting the market…and that will prevent a broad-based pricing recovery in housing. However, the good news is that the delinquency rates have declined and should continue to do so. While some parts of the country are seeing signs of improvement in housing, others continue to struggle. Overall, home prices will likely decline modestly in the first half of 2012 and then recover in the second half of the year. Rentals and investment properties will continue to be popular in 2012 as more people continue to rent. On the other hand, we are closer to the bottom in housing and with historically low rates in 2012, it will be another incredible purchase opportunity for homebuyers. In fact, it looks like home loan rates could move a leg lower in the first part of 2012, as rumors continue to swirl around the possibility of the Fed stepping in with a third round of Quantitative Easing (or QE3), and this could lead to the lowest rates ever. HOWEVER…like all windows of opportunity, this one may be short as well. History has shown that Bonds move higher in anticipation of Quantitative Easing, but then selloff once the official announcement is made. Think about the old investing adage: "Buy on the rumor, and sell on the news." So the best home loan rates may be seen leading up to any actual announcement. If the Fed doesn't do QE3, rates will still be very attractive in the first part of year, before moving a bit higher in the second half of 2012 as the economy continues to pick up. Overall, the early part of 2012 looks to be a great environment for interest rate, which means lots of opportunity for homebuyers. Regardless of what happens at the Federal level, I’ll be here ready to help you get the best home loan for your unique goals and situation. And if you have any friends or family members who could use some insight and help navigating a home loan, please forward them this newsletter along with my contact information. I’m always happy to help out in any way I can.     What to Watch: A Breeze of Inflation           Inflation, as measured by the Core Consumer Price Index, ran at 2.2% from November 2010 through November 2011. That was up rather sharply from the previous year and was closing in on the comfort range threshold of the Fed. What is interesting and a little disturbing to note is the increasing consumer inflation in the face of stagnant wage growth. Typically, consumer inflation increases are fueled by wage-based inflation, where wages move higher…but we are not seeing that just yet. With US consumers still behaving conservatively, the political climate promoting uncertainty and the labor market only making modest improvement, inflation may still tick higher to possibly 2.5%. But that would still be considered within the tolerance limits of the Fed. Of course, even if the inflation number is within the Fed’s comfort, any increase can negatively impact home loan rates. Remember: inflation is the archenemy of Bonds and home loan rates, so inflation ticking higher would not be good for rates. But inflation (and its impact on rates) doesn't exist in a bubble or an isolated test tube. Home loan rates are also impacted by other economic factors. Part of the magic in watching rates and how they behave is understanding all the competing factors at play. So the coming year will be an example of why it’s so important to work with a knowledgeable mortgage professional like me, who understands the complexity of the markets and can help identify opportunities for homebuyers. As always, I’ll be watching the inflation news closely in the coming months…and I’ll continue to share any important news that may impact you or the economy as a whole. And if you ever have any questions, please just call or email.     Q&A: The bottom line?           QUESTION:What’s the bottom line for 2012? ANSWER: The bottom line is that opportunity lies around every corner. For people looking to purchase a home, the abundance of affordable housing and historically low home loan rates will create a number of opportunities. And for those seeking to refinance, this may prove to be another year where you can move into a better mortgage. If you have any questions at all as we enter the new year, please call or email. It only takes a few moments to look at what’s going on and to discuss what it means to your unique housing and financial goals. Best wishes and happy New Year!           The material contained in this newsletter has been prepared by an independent third-party provider. The material provided is for informational and educational purposes only and should not be construed as investment, financial, real estate and/or mortgage advice. Although the material is deemed to be accurate and reliable, there is no guarantee it is without errors. As your Trusted Advisor, I always want to make sure you are clear on all details of the home financing process. If you or someone you know are interested in purchasing or refinancing a home, give me a call today! In the unlikely event that you no longer wish to receive these valuable market updates, please USE THIS LINK or email: slarue@franklinlc.com If you prefer to send your removal request by mail the address is: Sean K. La Rue 44-800 Village Court Palm Desert, CA 92260 Mortgage Success Source, LLC is the copyright owner or licensee of the content and/or information in this email, unless otherwise indicated. Mortgage Success Source, LLC does not grant to the recipient or distributor a license to any content, features or materials in this email. You may not distribute, download, or save a copy of any of the content except as otherwise provided in our Terms and Conditions of Membership, for any purpose.

Posted via email from Sean La Rue's Posterous

Moses, meet Steve

 
10 years ago the USA had Steve Jobs, Bob Hope and Johnny Cash
Now they have no Jobs, no Hope, and no Cash.

Posted via email from Sean La Rue's Posterous

YPN HOLIDAY MIXER FLYER

YPN HOLIDAY MIXER FLYER.pdf Download this file

Good morning,

Attached is the flyer for the upcoming YPN Holiday Mixer on Monday, December 12^th from 5pm to 7:30pm at Sullivan’s.

Thank you for helping us get the word out for this Festive Holiday Event!!

Posted via email from Sean La Rue's Posterous

Happy Saturday!!!

Wish u were here!!

Sean La Rue
Franklin Loan Center
Senior Vice President
www.SeanLaRue.com
760-835-5663

Posted via email from Sean La Rue's Posterous

9 Essential Tips for New Home Buyers--A Guest Post

9 Essential Tips for New Home Buyers--A Guest Post

From: http://money-saving-tech-tips.blogspot.com/2011/11/9-essential-tips-for-new-home-buyers.html

Summary: What are some essential tips for new home buyers? Read on to find out!

(I accept guest posts.  This is a guest post and I am not recommending the companies that are represented by the links.  I have not researched them in more than a cursorily manner to just determine they are not offensive to my personal taste.  Posting the article is not to be seen as a endorsement of any kind except I thought it was worth reading.)

Buying your first home or first investment property is a huge responsibility. Your personal financial future is often heavily invested in the value of your home. While a real estate agent can guide you through the process of buying a home, having a bit of knowledge beforehand can really help you avoid many of the costly pitfalls new home owners make.

Here are nine essential tips for new home buyers:

1. Know Your Limits

Before you do anything, you have to know how much you can afford to pay. While you can easily get this information from banks and lenders, you should always have your own idea on what you can afford. These institutions don’t always have your best interests in mind. They want to maximise their profits and don’t always consider how much of a burden a large mortgage is on a new home owner. Also, be conservative when you estimate your financial strength.

1. Determine What You Want

Once you know what you can afford, consider what kind of property you want to put your money towards. Do you want an inner city unit? Do you need to be close to public transport? Would you prefer a large country house? Figure out what you’re looking for first so you don’t end up wasting your time especially if you are considering it as a property investment now or in the future.

1. Buy Smart

Always use common sense when buying a home. While you might fall in love with a certain property, it might be impractical to purchase it. Always use logic when determining what home you need to buy so you don’t inadvertently sabotage yourself.

1. Don’t Overlook

Once you’ve found the home you want, stop looking. Prolonging your search can hold you back. As a first time home buyer your resources are generally limited. Don’t dawdle.

1. Save for Twenty Percent

Although there is the standard minimum requirement for borrowing money for a property, you should always aim for at least double that figure. Twenty percent is a good, safe figure to aim for. Not only will you save thousands of dollars in interest in the long term, but in many cases you will be able to receive a better mortgage.

1. Remember Closing Costs

Many first time home buyers often overlook potential closing costs. There is a litany of costs involved. Taxes, real estate agents’ fees and appraisals can quickly add up.

1. Get Pre Approved

Make sure you are pre-approved for your mortgage before you start signing off on any deal. The last thing you need to do before your closing is to scramble for financing. Make sure this bridge is well and truly crossed.

1. Calculate Moving Expenses

Depending on where you plan to move, moving expenses can be quite significant. A move down the road isn’t too bad but if you are moving to a different city, expect to spend some serious money.

1. Furnishings

First time home buyers often go over budget, leaving them with very little in disposable income. They soon find out that, although they have a beautiful new home, they cannot afford to buy furnishings. Remember, you need to fill your home.

Buying your first home can be intimidating, but with these nine tips the process should be a whole lot easier to understand.

Make it a great day,

Sean K. La Rue

Senior Vice President – Franklin Loan Center
“Your KEY to Moving Home!” – Yo hablo Español

Jumbo Loan Expert | FHA/VA Direct Lender | Reverse Mortgage Advisor 

44800 Village Court – Palm Desert, CA 92260

Mobile: 760.835.5663  Office: 760.837.1488  FAX: 800.784.9089

Sean’s Weekly Newsletter 

DRE# 01786480 NMLS# 291852

Jan Christensen

Executive Assistant | 760.837.1486 | jchristensen@franklinlc.com

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