THREE IMPORTANT Ps
“When E.F. Hutton talks, people listen.” Remember those old TV commercials for the stock brokerage firm? I have yet to bleed into pop culture with a tag line of my own, but I dare say I’ve seen evidence that my messages are getting across. I hollered and hooted that anyone with the slightest interest in and ability to buy a home should explore the possibility – and it seemed like everyone came out of the woodwork all at once. I love seeing people take action at such an important time in real estate market recovery and history and I’m thrilled to be working around the clock between now and November 30 to help as many folks close on homes and be able to take advantage of the $8,000 tax credit the government is offering to first-time homebuyers. The 8K tax credit is infusing money into buyers’ pockets and business coffers. it will be interesting to have the benefit of hindsight and hard numbers on the true effects of this initiative down the road. For now, we’re still very much in the thick of the action.
There is cause for concern with only a few weeks left to get transactions closed in order to be eligible and a major holiday placed menacingly near the end of the month. An influx of home buyers is exactly what the doctor ordered for neighborhoods full of homes for sale and the real estate related services still left standing after all the market changes. What many consumers don’t’ know is that banks alone have laid off a whopping 75% of their staffs since 2005 and many other services have shed jobs as well, leaving staffs smaller and systems at maximum capacity. Couple that with some new laws dictating procedures designed to protect consumers that can delay transactions by days at a time and the waning days of an ambitious stimulus incentive can get quite – uh – “exciting.” We don’t know if the 8K first-time homebuyer credit will get extended and we all have to operate on the premise that it won’t.
Looking forward – regardless of any additional incentives that may be approved to help the real estate market and stimulate homeownership – it’s important for everyone to take a moment and take stock. That means current homeowners, renters and everyone else at every age and life stage. We don’t know what’s coming next, but we can direct and determine our personal outcomes by getting in touch and on track. I don’t know anyone who can say they haven’t been somehow affected by recent economic conditions, though the extent certainly varies for myriad reasons. It’s so easy to lose track of the real costs of our lives once we achieve certain goals (like getting into a home). Your finances are in constant need of adjustment and directional correction – just like airplanes as they navigate the skies from point A to point B. Otherwise, you risk the money equivalent of missing your destination like a couple of Northwest pilots.
When it comes to personal finance, I find people are more motivated by the threat of loss than they are by the potential of gain over time. That’s too bad. How many times have you heard the adage, “Be careful what you wish for?” It’s mostly used as an ominous warning. I say, “Yeah! Let’s make that wish list and make it happen!” Possibility and payoff really are as simple as a plan…I can help you make one.
Let me know you’re thoughts below!
Sincerely,
Eric Lovins
Managing Partner
LandmarQ Lending a branch of Marketplace Home Mortgage, LLC
C: 952.212.2748
eric@landmarqlending.com
Apply Online: http://www.landmarqlending.com
