Archive for May, 2016

Celebrate your freedoms this Memorial Day!

May 27th, 2016
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We are forever grateful to those who have given the ultimate sacrifice to protect our freedoms.

Here at Fairway, we are committed to serving our Veterans by giving back through the American Warrior Initiative. Since 2013, our team members have donated more than $1.5 million to support Veterans across the nation. Please go to https://rallyup.com/awrep-mn to register for our own local American Warrior Initiative Real Estate Professional Seminar with Approved 3 Hour CE Credits, taking place on June 2nd in Burnsville, or contact me for more information.

Celebrate your freedoms this Memorial Day!

May 20th, 2016
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interest rates

Interest rates were on the minds of many this past week due to a rumor that the Federal Reserve may consider another rate hike – which set the stock and bond markets into roller coaster mode! Will they or won’t they, that is the question!

One article called it “too many cooks in the kitchen who are not speaking with a consistent voice.”  The article spoke of the Federal Reserve having previously expressed concern about the global economy and deciding to put a hold on further rate increases, while other top officials voiced differing opinions.  Everyone is trying to get a handle on where, and if, the economy is improving – the result being general confusion and market volatility.

Read up on what makes the market tick. Don’t make a hasty decision out of fear. Today’s homebuyers have a great deal of purchasing power with our current low rates. There is no better time than NOW to build a new home, remodel an existing home, purchase a different home, or refinance the current one.

 

 

May 13th, 2016
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KCM-05-16_Page_054There is a wealth of interesting news from the May edition of Keeping Current Matters, a monthly market update for Real Estate Professionals from Steve Harney. The presentation began with a look at market trends for 2001 through 2020. The Boom years were 2001 through 2005 – home prices skyrocketed; appraisal and lending practices with alternative mortgage products gave consumers the ability to buy the highest priced home, not necessarily the best priced home for them. Then came the Bust, from 2006 to 2010, when the market corrected. Alternative mortgage products reset and housing prices crashed. The five year period that followed, from 2011 to 2015, saw a very slow recovery. Sales did increase and housing prices were also showing improvement, but sustaining the momentum was difficult. That leads us to today…

The great news – the next five year period, 2016 through 2020, is labeled “the next sales boom.”  We have seen a big lift in sales volumes of new construction homes especially, but existing inventory also is doing well. Demand is exceeding supply, as borrowers that may now have the ability to move are fearful of selling and not having a place to move to! Those borrowers are moving in with family or taking advantage of short term rentals as their new home is being built. Construction financing for qualified borrowers, coupled with low interest rates, make this a perfect time to venture into building a new home.

Vacation homes and investment property sales are also on the rise. Vacation homes are purchased as a family retreat with thoughts of eventually becoming the retirement home. The great majority of vacation homes purchased are single family, and the greatest sought out locations are near water. Vacation properties can generate some occasional income, although that is not the real reason for the purchase. Investment properties, on the other hand, are purchased mainly as income generators, based upon a recent NAR report. The majority of these properties also tend to be single family homes. Read the rest of this entry »

American Warrior Initiative Registration link is now live!

May 13th, 2016
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Registration information for our June 2, 2016 AWI Boot Camp will be out soon!

May 6th, 2016
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cropped-banner-3Preparations are underway for the June 2, 2016 American Warrior Initiative (AWI) Boot Camp here in Minnesota. Here is what the AWI team has been up to over the past couple months.

April 21, 2016 – Last week in Phoenix, AZ, Fairway Independent Mortgage Corporation collaborated with the American Warrior Initiative (AWI) to host a “Boot Camp” event and honor a local U.S. veteran. At the event, over 500 real estate agents received training to educate them on working with the home purchase needs of active duty and military veterans.

Dominic Martinez, a wounded Purple Heart recipient suffering from PTSD, was presented with a check for funds to purchase a truck that is capable of hauling wheelchairs and other necessary equipment for others with no transportation. Martinez works with the Honor House in an effort to help other wounded veterans and will be able to use the truck to help veterans go to doctor’s appointments or come to events.

March 24, 2016 – Last week in Boise, Idaho, Fairway Independent Mortgage Corporation, in cooperation with the American Warrior Initiative (AWI), hosted the first American Warrior Gala. This event included a VIP reception, online auction, book and T-shirt sales, and a “wall of wine”— all to raise money for veterans. The final fundraising total is still to be determined, but Boise Branch Managers expect to have additional funds to donate to their local area veterans.

At the Gala, AWI gifted three honorariums to the local chapter of Blue Star Mothers, 208 Cares, and Idaho Veterans Network. The 208 Cares organization retrofits homes for disabled veterans to best suit their needs. The Idaho Veterans Network takes veterans on hunting and fishing trips so that they can build relationships with other veterans.

AWI raised $15,000 during the online auction and gave $10,000 to Idaho Veterans Network, as well as $500 each to the other charities honored at the gala. The gala attracted over 250 attendees, including the mayor of Meridian, ID; generals from the air force base in Mountain Home, ID; Realtors; brokers; and construction companies.

March 10, 2016 – Last week, Fairway Independent Mortgage Corporation and the American Warrior Initiative (AWI) held multiple “Boot Camp” events in Texas and Louisiana to educate real estate professionals on working with the home purchase needs of active duty and military veterans.

In San Antonio, Texas, Fairway honored Caleb Brewer, a recent amputee who was injured by an IED in Afghanistan. Caleb was gifted a home gym to help with his recovery and assist him with his physical fitness. Read the rest of this entry »