A Spring Menu Recharge

Oh but for Spring!!!   

Though I just posted about the great reason to buy or sell your home now, we can't forget about all the aspects of Spring:

Mulching the Flower Beds

Tuning the Mowe

Painting the Trim

New Pots and Plants

AND THE LIST GOES ON!!

Don't be discourage about the work!  It sure makes our homes gleam and provide us the sense of pride and ownership common to home owners.

Yet there is another aspect to Spring:  A change in menu.

To help you move from "Winter" to 'Spring", here is  link to HomeByDesign's latest article that happens to focus on some scrumptous Spring recipes.

Spring Recipes

Can it be? Really?? SPRING!!!!!!

Spring is HERE!!

I may be a bit too optimistic.  Yet after three weeks of snow and cold reminiscent of my childhood in the Midwest, Hampton Roads is ready for the 50's and 60's projected for this week.

Yes, we have nothing to complain about!  Boston, you took the brunt of the abuse but weren't far ahead of the Kentucky, Michigan and host of other states with record snow falls and/or horrific traffic snarls due to the "normal" winter weather.

Rather interesting that the snow and cold that all those kids were told about by parents finally showed up!!

With the break in the weather, the already strong Spring selling season should really heat up.  Even with weather, I have had the strongest Spring in four years!!  

For the past three years, buyers and sellers stayed on the sidelines while interest rates were low and buyer demand(for sellers) was starting to show until the second half of the year.  Thus, the sales time frame was inverted:  Spring slow   Fall fast.

But with rates for the fourth year in a row around and right now below 5%(closer to 4% right now), mortgage credit availability way up and FHA lowering the MIP premiums, buyers are out in force.

Many of the buyers are sellers looking to move up or downsizing to retire.  Thus, 2015 should see exponential activity caused by the $200,000 home seller, buying the $250,000 house so that seller can purchase a $350,000 home and so forth.

The Spring season strength is also seen in new construction.  Builders again believe that their product will move.  And it is all because of what I noted above.  As the lower price homes sell, eventually a home buyer seeks to move to new construction versus resale.  

Also, home owner strickly wanting new construction provide needed inventory to buyers looking for their next house.

Once the cycle begins, it is like any natural cycle in nature: it becomes self sustaining!!   Normal factors of the market keep this self-sustaining cycle in appropriate parameters to continue for years.

Only the enzyme of "frantic" buying caused by too little inventory for too many buyers would cause the cycle to spiral out of control as relates to home prices.  

With the pent up demand caused by 5+ years of buyers "waiting for the market to improve", it is possible in the later phases of this self-sustaining cycle that prices will once again skyrocket.

Though benefiting a few sellers over a short period of time, such skyrocketing values have very negative affect upon a normally healthy real estate market.

All this said, you should know now is the time to buy.  Rates and prices will only go up as this cycle reaches maximum operating potential.  

Call me today at 757 680-6546 to make your dreams come true!

Spring will come eventually....Landscape Plans

Winter has really hung on in given parts of the U.S.  Ask Boston or Chicago if winter has been tough.  You will hear quite the story of bitter days and snowy nights(and days).  Boston has been inundated with just tons of snow(translated into feet by someone).

As far as I am concern, when the snow is so deep you can't find your car for thirty days or that ice chunks large enough to crush the hood of car are crashing from roof tops, it is hard to believe is Spring can come fast enough.

Even southern areas like Atlanta and Miami have seen record cold.
Hampton Roads has been shut down(as you may well know) by snow fall for the past two weeks.   With the 7th largest snow total at 17 inched, February was tough an anyone looking forward to Spring.

In fact, those of us with Crepe Myrtles are to trim low and bad branches in February, prior to the juices of Spring start filling the dormant branches.  But where was there a decent day??  March will be here and it will just happen then.

Yet, with Spring comes new plans to landscape the unruly or to trim and tuck the sculptured yard.   If you are still seeking some input, here is a great article on texture in your landscape.  Better Homes & Gardens is a great resource!!

Landscaping

All Year Garden

All 

Year 

Garden

Just the other day, I posted on the ways to be smart to keep your pipes from freezing in the frigid weather that has been around and promises to be where ever you live for another few weeks.

Those short stints of warmer weather don't seem to shake the cold all from our systems.

Now, I get a wonderful article from Home By Design discussion the All Year Garden.  Seems a bit out of sync, huh??

Actually, this is a timely topic!!   If you don't plan now what you will do, daffodils and crocuses will be blooming,  It will be too late to plant as it will be the time to get all the flowers in.   Have you ever been stuck trying to plant in June due to a tough schedule??  I have and all you do is water flowers dying to due to excessive heat with no root system to survide the 4 hours between watering(if you or I had the time!!).

Thus, don't toss this blog to the side!!  Read and learn how to have that All Year Long Garden!!

Here is the link to the full article:  Year Around Garden

Winter Gardening....A Must

Winter Gardening

It may same very counter intuitive to garden in the winter.  Yet, there are many ways to take care of your yard and plantings during the winter.

For those of you living in snowier regions, knocking heavy wet snow off bushes and fir trees sagging or bent over is a key way to ensure the plant doesn't snap in two or is misformed due to "snow damage".   Even in more temperate areas, covering planting with straw or manmade cover during an unusual cold snap is pretty common sense by residents of these areas.

To ensure a vibrant Spring and a hearty Summer of color and healthy yards and plants,  you should take preventative measures.

BUT DON'T STOP THERE!!!

You can also add some spice to your Winter landscape that will keep your neighbors admiring your home and all your visitors thinking you are an expert gardener.  The attached article from Better Homes and Gardens will give you the tips you need! 

Read and Enjoy!

                       Winter Gardening

Why Real Estate Sales Aren't Dead

Where Is Market Headed?

Why a question?  Haven't I said the market has been improving every month for months on end(since mid 2012)?  So why start here?

You only have to read Jim Belote's MMG Weekly update to understand.  As has been reported for the past two months, February and March followed a January that fell off the December pace.  

Though rising interest rates(Jim talks about the pressure on rates once again) had an impact, it really wasn't the big impact.

Just like retail and auto sales, it was the weather!

Yes, home sales can tank when it is more important to dig out the car for the 15th time or having to deal with house bond kids home for another day off school.  

As one Lowe's ad boldly states, the snow was a great novelty for the first couple of snowfalls but then became a pain.  And if you didn't live were there was much snow, it was bitter cold(yes, Michigan...28 degrees in bitter in Atlanta!).  And both cold and snow made buyers and sellers like you think, "I will wait until in warms a bit".  Fortunately the Lowe's ad goes on to say Spring temps are here!

As a result, you will get moving to make the move!  And so will a thousand if not hundreds of thousands other people will get the move on.  

April and May should turn the market upside down. Everybody will be wondering why the the market shoot up!!!  

I wonder. 

Provided to you Exclusively by Jim Belote   For the week of Apr 28, 2014 | Vol. 12, Issue 17

Jim Belote Branch Manager, MBA Union Mortgage Group Phone: (757) 395-LOAN Fax: (757) 351-6471 E-Mail: jim@jimbelote.com 582 Lynnhaven Parkway, Suite 300 Virginia Beach, VA 23452

In This Issue...

Last Week in Review: Housing reports were front and center, and tensions from overseas impacted the markets. Forecast for the Week: Look for key reports on housing, inflation, manufacturing and jobs. Plus, the Fed meets. View: Build stronger connections on LinkedIn with these power-user tips.

Last Week in Review

"Reality is the leading cause of stress amongst those in touch with it." Lily Tomlin. The reality of the 2014 housing market is quite different than last year's, according to recent housing reports.New Home Sales for March plunged by 14.5 percent from February to an annual rate of 384,000 units. This was far below the 455,000 expected and the lowest level since July. New Home Sales in March were down 13.3 percent from the same period last year. Existing Home Sales for March didn't fare much better, as they declined by 0.2 percent from February to an annual rate of 4.59 million, just below expectations. This was the slowest pace since July 2012. In other housing news to note, the Federal Housing Finance Agency (FHFA) reported that its February Home Price Index (HPI) rose by 6.9 percent from the same period last year. This was the weakest reading in 13 months. What does this mean for home loan rates? Typically good news helps Stocks improve at the expense of Bonds, including Mortgage Bonds (the type of Bonds on which home loan rates are based). However, Bonds and home loan rates were able to benefit last week from the increased tensions between Russia and the Ukraine. This caused investors to move their money into the safe haven of Bonds, helping Mortgage Bonds and home loan rates improve. Whether these improvements continue could be contingent on several potentially market-moving items in the coming week, including the Jobs Report for April and the Fed's next meeting of the Federal Open Market Committee. Remember that the Fed is now purchasing $30 billion in Treasuries and $25 billion in Mortgage Bonds to help stimulate the economy and housing market. This is down from the original $85 billion per month that the Fed had been purchasing. It will be important to see if the Fed announces additional tapering of these purchases at its upcoming meeting. The bottom line is that now remains a great time to consider a home purchase or refinance, as home loan rates remain attractive compared to historical levels. Let me know if I can answer any questions at all for you or your clients.

Forecast for the Week

This week's economic reports will touch on a large sector of the economy, with several key reports to note. Economic data kicks off on Monday with Pending Home Sales for March, followed by the S&P Case-Shiller Home Price Index for February on Tuesday. Tuesday also features Consumer Confidence for April. In the manufacturing sector, look for Chicago PMI on Wednesday and the ISM Index on Thursday. Also on Wednesday, the first reading of Gross Domestic Product for the first quarter of 2014 will be released. Thursday brings Personal Income, Personal Spending and Personal Consumption Expenditures, the Fed's favorite measure of inflation. Weekly Initial Jobless Claims will also be delivered as usual. That leads us to Friday when one of the most closely-watched economic reports will be released—the Jobs Report for April, which features Non-farm Payrolls and the Unemployment Rate. In addition, the Fed's next regularly-scheduled meeting of the Federal Open Market Committee begins on Tuesday, with the Policy Statement being delivered Wednesday. It will be important to see if the Fed announces additional tapering to its Bond buying program—and how Bonds and home loan rates react. Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result. The chart below shows Mortgage Backed Securities (MBS), which are the type of Bond on which home loan rates are based. When you see these Bond prices moving higher, it means home loan rates are improving—and when they are moving lower, home loan rates are getting worse. To go one step further—a red "candle" means that MBS worsened during the day, while a green "candle" means MBS improved during the day. Depending on how dramatic the changes were on any given day, this can cause rate changes throughout the day, as well as on the rate sheets we start with each morning. As you can see in the chart below, Bonds and home loan rates rebounded late last week. With a potentially volatile week ahead, I'll be watching the markets closely. Chart: Fannie Mae 4.0% Mortgage Bond (Friday Apr 25, 2014)

The Mortgage Market Guide View...

Power-user Tips for LinkedIn Chances are you know how powerful LinkedIn can be for networking, but like most everything in business there are secrets power-users know to help them stand out from the crowd. Keep these tips in mind as you use LinkedIn to start building stronger connections, even faster. Be specific! When you ask someone to connect, change the default message, which reads: "I'd like to add you to my professional network on LinkedIn." Instead, personalize your invitation to say something more inviting, or succinctly explain how you know the person or why you want to connect. It's not personal, it's business. Because LinkedIn is a social media platform for professionals, keep your activity strictly business. If you get into heated discussions frequently, create controversial posts, or act overly casual in your comments, just remember that potential employers or customers could notice. Give a little bit. The greatest networking principle is to always give first. Endorsing your connections is a quick and easy way to do just that. Not only will endorsing give your connections well-deserved virtual kudos, but it can also help them rank higher in search results—having you to thank for helping them score their next big deal or reach more people! Timing is everything. Asking a favor immediately after making a connection is as much a faux pas in the virtual world as the real one. Make connections (and then nurture them) well before you need something from them. Be sincere. Write only genuine recommendations, and write without expecting anything in return. If your connection returns the favor, good for you! Click here for even more LinkedIn power-user tips and, as always, please feel free to pass these tips along to your team, clients and colleagues. Economic Calendar for the Week of April 28 - May 02 Date ET Economic Report For Estimate Actual Prior Impact Mon. April 28 10:00 Pending Home Sales Mar NA -0.8% Moderate Tue. April 29 09:00 S&P/Case-Shiller Home Price Index Feb NA 13.2% Moderate Tue. April 29 10:30 Consumer Confidence Apr 83.0 82.3 Moderate Wed. April 30 02:00 FOMC Meeting Apr NA 0.25% HIGH Wed. April 30 09:45 Chicago PMI Apr 55.4 55.9 HIGH Wed. April 30 08:30 Employment Cost Index (ECI) Q1 NA 0.5% HIGH Wed. April 30 08:30 GDP Chain Deflator Q1 NA 1.6% HIGH Wed. April 30 08:30 Gross Domestic Product (GDP) Q1 NA 2.6% HIGH Wed. April 30 08:15 ADP National Employment Report Apr NA 191K HIGH Thu. May 01 10:00 ISM Index Apr 54.3 53.7 HIGH Thu. May 01 08:30 Personal Consumption Expenditures and Core PCE YOY NA 1.1% HIGH Thu. May 01 08:30 Personal Consumption Expenditures and Core PCE Mar NA 0.1% HIGH Thu. May 01 08:30 Personal Spending Mar 0.6% 0.3% Moderate Thu. May 01 08:30 Personal Income Mar 0.5% 0.3%

Easy but Fancy Easter Eggs

         

  Looking for a something fun to do this weekend?   How about creating an alternative to solid color Easter eggs?   

   I am sure you and the kids have dipped your share of eggs in hues

of pink, yellow and blue.  But have you tried a multi-color egg?

     Won't the aunts and uncles be surprised to see the dining table

decorated with these nifty creations at your Easter celebration?

    Enjoy the wonderful "how to" noted in the link below!

Fancy Smancy Egss for Easter

Hope for Housing!!!!

With the nasty winter weather that has dominated the Eastern two thirds of the country, real estate have been dampened.  

One only need to listen to the news or google real estate sales to come up with stories on lower sales trends the past two months.
With the major metro areas like Chicago, New York, Atlanta, Philadelphia(and many others) impacted, it is easy to understand the broad malaise in real estate sales.

Yet as Jim notes below, the warmth of Spring will not only make trees blossom and flowers to push through the defrosting landscape. Real Estate will begin to blossom also.  

Sellers will be able to finish prepping the house with fresh mulch and trimmed bushes....and snow melted from the lot!  Nothing like snow to date a picture!!

Buyers will welcome the chance to tour without worrying about removing shoes to maintain carpets and hardwood floors of "their possible new home".   Ask car dealers how much their sales hurt!!
Just  isn't as much fun to look at cars or homes when one is shivering!!!

Won't be long now and you will be burned if you wait to move!!!

Provided to you Exclusively by Jim Belote   For the week of Mar 24, 2014 | Vol. 12, Issue 12

Jim Belote Branch Manager, MBA Union Mortgage Group Phone: (757) 395-LOAN Fax: (757) 351-6471 E-Mail: jim@jimbelote.com 582 Lynnhaven Parkway, Suite 300 Virginia Beach, VA 23452

In This Issue

Last Week in Review: The harsh winter weather throughout much of the country had a big impact on the housing market. Plus, the Fed met. Forecast for the Week: Housing reports will be front and center, along with key news on inflation, economic growth, and consumer attitudes. View: Sharing local statistics with clients and referral partners is easy with this resource.

Last Week in Review

Time for a change. With spring officially here, the change of season will hopefully lead to a change of direction for the housing market, as the harsh winter weather contributed to several disappointing reports. February Existing Home Sales fell by 0.4 percent from January to 4.60 million units on an annualized basis. While this number was in line with estimates, it was 7.1 percent below the 4.95 million units registered in February 2013. The National Association of Realtors cited the unusually harsh winter weather, tightening of credit, and higher home prices as the cause behind the stagnant sales data. The harsh weather was also blamed for the weak Housing Starts reading for February, which came in at 907,000, making this the third straight monthly decline. In addition, the National Association of Home Builders Housing Market Index came in at 47 for March. Readings below 50 indicate that more builders view conditions as poor, rather than good. On a positive note, Building Permits, which are a sign of future construction, surged by 7.5 percent to 1.018 million. It will be important to see if readings improve once the weather becomes milder around the nation. In other news to note, weekly Initial Jobless Claims rose by 5,000 in the latest week to 320,000. Claims continue to hover near lows seen in November, as the labor markets work through the post-recession malaise. The 4-week moving average, which irons out seasonal abnormalities, came in at 327,000, the lowest level since the end of November. What does this mean for home loan rates? Despite some weaker than expected economic reports, the Fed announced more tapering to its Bond buying program. Beginning in April, the Fed will purchase $30 billion in Treasuries and $25 billion in Mortgage Bonds (the type of Bonds on which home loan rates are based) to help stimulate the economy and housing market. This is down from the original $85 billion per month that the Fed had been purchasing. I will be watching closely to see how this decision impacts the markets and home loan rates as we head further into spring. The bottom line is that now remains a great time to consider a home purchase or refinance, as home loan rates remain attractive compared to historical levels. Let me know if I can answer any questions at all for you or your clients.

Forecast for the Week

This week's economic calendar is packed with important data on housing, inflation, and economic growth. Housing data is plentiful this week with the S&P Case-Shiller Home Price Index and New Home Sales being reported on Tuesday. Pending Home Sales follows on Thursday. We'll get a read on consumer attitudes towards the U.S. economy with Consumer Confidence on Tuesday and the Consumer Sentiment Index on Friday. Wednesday brings February's Durable Goods Orders, which are orders for items that last for an extended period of time. Weekly Initial Jobless Claims will be released as usual on Thursday. Also look for the final reading of Gross Domestic Product for the fourth quarter of 2013. Ending the week, the inflation-reading Personal Consumption Expenditures data along with Personal Income and Personal Spending will be delivered on Friday. Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result. The chart below shows Mortgage Backed Securities (MBS), which are the type of Bond on which home loan rates are based. When you see these Bond prices moving higher, it means home loan rates are improving – and when they are moving lower, home loan rates are getting worse. To go one step further – a red "candle" means that MBS worsened during the day, while a green "candle" means MBS improved during the day. Depending on how dramatic the changes were on any given day, this can cause rate changes throughout the day, as well as on the rate sheets we start with each morning. As you can see in the chart below, Mortgage Bonds worsened after the Fed meeting but were able to stabilize. Home loan rates remain near historic best levels and I will continue to monitor them closely. Chart: Fannie Mae 4.0% Mortgage Bond (Friday Mar 21, 2014)

The Mortgage Market Guide View...

Health Website Makes Sharing Local Data Easy Gone are the days of extensive research, compiling information, and sharing numerous website links in order to provide local stats and health data with relocating clients and prospects. Now, finding that information is quick and convenient with County Health Rankings. Through the collaboration of the Robert Wood Johnson Foundation and the University of Wisconsin Population Health Institute, the website brings together 50 diverse reports resulting in a health ranking for each county in the U.S. How Does Your Community Rank? 1. Visit www.countyhealthrankings.org. 2. Select your state from the map. 3. Once the state map appears, select your county. Within a few clicks, you can see your county's overall ranking, as well as other important local statistics such as: Population Unemployment Education Smoking and drinking Access to recreational facilities Air pollution Poverty Motor vehicle death rates Diabetes And much more! Check your local stats and feel free to pass this resource along to your team, clients, and colleagues. Economic Calendar for the Week of March 24 - March 28 Date ET Economic Report For Estimate Actual Prior Impact Tue. March 25 09:00 S&P/Case-Shiller Home Price Index Jan NA 13.4% Moderate Tue. March 25 10:00 Consumer Confidence Mar NA 78.1 Moderate Tue. March 25 10:30 New Home Sales Feb NA 468K Moderate Wed. March 26 08:30 Durable Goods Orders Feb NA -1.0% Moderate Thu. March 27 08:30 GDP Chain Deflator Q4 NA 1.6% Moderate Thu. March 27 08:30 Gross Domestic Product (GDP) Q4 NA 2.4% Moderate Thu. March 27 08:30 Jobless Claims (Initial) 3/22 NA NA Moderate Thu. March 27 10:00 Pending Home Sales Feb NA 0.1% Moderate Fri. March 28 08:30 Personal Income Feb NA 0.3% Moderate Fri. March 28 08:30 Personal Spending Feb NA 0.4% Moderate Fri. March 28 08:30 Personal Consumption Expenditures and Core PCE Feb NA 0.1% HIGH Fri. March 28 08:30 Personal Consumption Expenditures and Core PCE YOY NA 1.1% HIGH Fri. March 28 10:00 Consumer Sentiment Index (UoM) Mar NA 79.9 Moderate

The material contained in this newsletter is provided by a third party to real estate, financial services and other professionals only for their use and the use of their clients. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is without errors. As your mortgage professional, I am sending you the MMG WEEKLY because I am committed to keeping you updated on the economic events that impact interest rates and how they may affect you. In the unlikely event that you no longer wish to receive these valuable market updates, please USE THIS LINK or email: jim@jimbelote.com If you prefer to send your removal request by mail the address is: Jim Belote Union Mortgage Group 582 Lynnhaven Parkway, Suite 300 Virginia Beach, VA 23452 Vantage Production, LLC is the copyright owner or licensee of the content and/or information in this email, unless otherwise indicated.   Vantage Production, LLC does not grant to you 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 or screens except as otherwise provided in our Terms and Conditions of Membership, for any purpose.