To The Weekly Update And More

Have you ever noticed that anyone can find data to support their own perspective or opinion? During a typical week you will hear things like home prices are down, sales are up; more houses are underwater, etc. Depending on the message you want to send you can always find the numbers to support your statement. Our favorite is:

“Inflation is benign, if you exclude food and energy prices”. OK, if we did not
have to eat or get to work this may be true. Some people don’t have to drive,
but everyone eats. There are some fundamental truths, at least in our opinion
;-). Let’s review a few of these:

1. It is a great time to be a first time home buyer. Rates are low and there is plenty of inventory; there are some great values out there and it is time to act.

2. We don’t have 500+ flavors of loans anymore however there are many creative ways to finance properties. Granted you really have to qualify for the loan now, (not the worst thing in the world).

3. We said it before and we will say it again, if it were not for FNMA or Freddie Mac we could not even imagine what the real estate market or what our nation would look like at this time. We and a lot of smarter people than us know at this time private capital is not ready to step up and fill this void. We are not comfortable yet, with the government’s proposal to abolish the GSE’s (FNMA and Freddie Mac). This week on one of the business channels there were two senators (one Republican and one Democrat) touting the replacement of FNMA and Freddie Mac with five companies guaranteeing loans. Their explanation of how five companies would function better than the two existing GSE’s was very fuzzy and non specific, typical politician speak.

4. We all need to thank the National Association of Realtors and their president Ron Phipps for taking the message to Washington and the press.

The three points of NAR’s message: Do not wipe out the home interest deduction, do not wipe out the GSE’s and do not get rid of loans with less than 20% down. Bravo and a big thank you to NAR, you go Ron! By the way NAR has some very interesting statistics regarding the housing industry on their web site http://economistsoutlook.blogs.realtor.org

Levine, Two Thumbs Up

Last week in honor of Mother’s Day, CMG sponsored the Alison Levine event and it was great! Over 300 attendees had the opportunity to be inspired by this successful business woman and world class mountain climber. Ms. Levine also makes the time to empower women in third world countries through her various philanthropic organizations. Guests enjoyed tasty complimentary refreshments and each guest received a pink metal water bottle to commemorate the event. During the Q and A time, a member of the audience commented how refreshing it was that there was nothing for sale. Sorry if you missed this wonderful afternoon, the presentation was very inspirational and informative for everyone.

It’s Like
Ripley’s…Believe it or Not!

Truth is stranger than fiction! We have a loan in process where the borrower currently owns two houses (rentals) in Antioch. One of the properties was purchased recently (October 2010) as a non owner occupied property. The borrower is being transferred by his company from San Francisco to
Contra Costa County. The new purchase will be owner occupied. The underwriter suspended the loan requesting a letter from the borrower to explain why he is not throwing one of his tenants out to move into one of the homes he currently owns in Antioch. Just when we thought we could not be
shocked by anything else! We are not making this stuff up.

It is always a good time to thank you for thinking about us. Erin and I appreciate your business and the trust you have in the Meredith Team.



Meredith Mortgage Team, CMPS

Certified mortgage planning specialist

“We Will Always Have Your Best  Interest In Mind”   


Erin & Kathleen

The Bay Area’s Premier Mortgage Banker and Broker

(925)983-3048 office

(925)226-3215 efax

(925)918-0585 mobile




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