Masi - Walsh Real Estate Connection "OCNJ"

Considering Buying? Considering Selling?

2010-07-31T09:11:00.000-07:00

ATTEN: BUYERS/SELLERS

Not sure where to start your property search!

Are you considering getting your shore property on the market?

Do you need assistance with your relocation anywhere in the US? Visit our Referral Network!

Do you want information on a new location in the US?

Search for Foreclosures http://www.newjerseyhomes.net/
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Please take a moment to fill out our form on the right! We look forward to assisting with any of your real estate needs. We even handle referrals on a sale or listing anywhere in the US, through our Keller Williams Network.

Our Most Popular referral locations are Arizona, Florida, New Jersey "OCNJ", California

Top Seven Reasons Banks are Denying Home Loan Requests

2010-07-25T21:33:00.000-07:00

With a broad smile and the stroke of a pen, President Barack Obama capped a contentious 18-month struggle and signed into law the broadest revamp of financial regulation since the Great Depression.

Today, banks are making sure they don't make the same mistakes again, so loan underwriting standards have become more stringent than ever before.

According to a recent Federal Reserve survey, it was found that about 75% of the banks surveyed indicated they had tightened their lending standards for prime, subprime and commercial mortgages. That was up from about 60% in the previous survey. With this sharp increase in lending standards, borrowers are being turned down for real estate loans at an alarming rate.
Here are the top seven reasons banks are denying home loan requests:

1. Poor credit: The borrower may have a heavy down payment or excellent equity built-up in their house, but if their credit score is under a certain threshold, obtaining a new loan or refinance from a traditional bank is challenging. Even FHA (Federal Housing Administration) loans, which have traditionally catered to borrowers with lower FICO scores, have an average borrower credit score of 693, according to CNN Money, which is above the national average.

2. Insufficient liquidity: If the borrower doesn't have a heavy down payment (20%-30% for most banks) and strong excess liquidity, banks don't want to take the risk on funding their loan.

3. Lack of income: The borrower doesn't have consistent proof of income for the last two to five years. Regardless of how good their credit score is or how much equity they have in their home, if they can't show the bank proof of income, loan approval will be tough. This can be a big hurdle in the loan process, particularly for retired borrowers.

4. Lying on the application: Banks have learned their lesson and are no longer putting up with borrowers stretching the truth on their applications.

5. Debt: Borrower has excessive debt and their debt-to-income ratio exceeds the bank's guidelines.

6. Unemployment: Most lenders will like to see at least two years of stable work to issue loan approval.

7. Self employment: Lenders are looking at self-employed applicants with a lot more scrutiny these days, making it very tough for these borrowers to get approved.

Obviously some of these newly structured standards are for the betterment of the industry, and our overall economy, but at the same time, home buyers across the country are realizing quickly that reputable credit and stable income aren't always enough in qualifying for a loan through a traditional bank.

This predicament is not only affecting potential home buyers, but also the real estate professionals who represent them. Real estate professionals nationwide have expressed that this has become a challenging part of the transaction.

"That is why we always recommend going with a local lender, whom we have referred many pleased clients to. For a source of good local lenders, feel free to contact us anytime." by Doug Masi and Tom Walsh

Atten Realtors - Looking for a Powerful Company?

2009-12-24T08:01:00.000-08:00

ATTEN: AGENTS

Hear why agents are moving to Keller Williams Realty! IS each day costing you more than it should!

Extremely Low Cost Fees
High Commission Splits
Did you hear about the training?
Earn an override from the agents you bring into the KW family.
Retire in 7 to 10 years with a nice monthly income, and not have to sell anymore real estate!
Would you like to earn 100% of your commission dollars!
SEE FOR YOURSELF TODAY! CONFIDENTIAL REPORT!

Keller William was voted the #1 real estate franchise for 2009 by Entrepreneur Magazine.

Property of the Month

2009-12-23T09:42:00.000-08:00

PROPERTY INFORMATION REQUEST

THIS REQUEST WILL ALLOW US THE ABILITY TO COMPLY WITH THE POLICIES OF BEST PRACTICE IN PROVIDING PROPERTY DETAILS VIA EMAIL.

IN ORDER FOR US TO CONFIRM YOU RECEIVE THE DETAILED INFORMATION , PLEASE FILL IN THE INFORMATION REQUESTED FORM.

You will receive a video overview & brochure on this property! Let us know if we can help you see your property someday.

Property updates are subject to change!

Contact Information

First Name *

Last Name *

Email *

Daytime Phone

Miscellaneous

Check all that apply:

I have an interest in selling a property.

I have an interest in buying a property.

BEST BUYS IN SOUTH JERSEY RESORT PROPERTIES. FROM BEACHFRONT, BAYFRONT, NEW CONSTRUCTION DUPLEX AND DUPLEX CONDOS.

YOU WILL RECEIVE AN EMAIL CONFIRMATION, WHICH YOU SIMPLY NEED TO CONFIRM BACK. DETAILS ON THE SPECIAL PROPERTY OF THE MONTH, WILL BE PROVIDED TO YOU IN THE NEXT FEW MINUTES.

INFORMATION ON SALE PROPERTIES IS SUBJECT TO CHANGE.

Should you have any problems or questions with this site or webform, please email Support@kwocnj.com

Update Full Contact Information.

2009-12-22T10:02:00.000-08:00

Thanks for taking a moment to fill in your contact details below. Your information is solely for the use of either Tom or Myself to update you via regular mail, including holiday cards, listing agreement, sale agreements, offers, or any other details which may require your full address.

Our new data base is live, so your information will be updated in real time. We are the only ones who access your contact information. Your information will be kept private and is not for public use in any way.

We would not want you to miss out on any important alerts or money saving opportunities.
Thanks, Doug Masi and Tom Walsh.

PS: Feel free to refer a friend over to our site. We would welcome the opportunity to be of service.

Why Choose KWOCNJ.com for Your Referral

2009-12-22T06:50:00.000-08:00

Professionalism and integrity are the bywords of Masi Walsh Keller Williams Realty Team. We strive to be your one-stop source for real estate services covering the National through our Referral Network.

If your real estate needs range from a relocation due to work, or just looking to move to a warmer area of the country, KWONCJ.com and the Masi-Walsh team can help.

We have assisted over 100's of families over the past 25 years, and know the value having the right agent at the other end means. Online form for your convenience.

Here are 3 guaranteed steps we will do for our personal referrals:

Personally review your needs and what your ideal outcome during this process.
Qualify an agent at the receiving end. Through our extended years in the business, we know what questions to ask and assure that the receiving agent will give our referred client the extra, over the top service.
During the process, we will continue to followup during the process, to insure that everything is positively moving in the right direction.

Buying and selling a home is one of the biggest events in your life. We over 25 yrs of real estate service, We have the experience and track record you are looking for. From residential to commercial, small and large, your needs is our first priority.

ATTEN: Realtors and Brokers

If you are a follow sales agent anywhere in the country or abroad, we welcome your referral. For your convenience we have provided an Online form. Simply fill in and we will contact you to confirm or relationship with you. We will be happy to review our referral fee to your company. You can be assured your client will be in the best of hands! GET STARTED HERE.

Testimonial:

After having my condo on the market in Danville Ca, for over a year, to have my agent setup a deal, then have it fall apart, and on top of that assure me that it will go through, which it never did, I knew I needed a real professional. I was introduced to Doug Masi who took the time to listen to all my concerns. He knew what needed to be done. Within the next 3 days we had it on the market, and we closed the property with a new buyer in under 45 days. Now we don't have to move out of our new home. M. Argandbright '06

KWOCNJ.com REFERRAL CENTER

2009-12-21T15:41:00.000-08:00

Property Updates - Ocean City NJ - Amazing Values

2009-12-12T10:15:00.000-08:00

If your timing is good, there are tremendous opportunities out there.

Here are few properties to consider. I also attached one which just went under-agreement, on the market for only 8 days. Way under price. 463 Asbury Ave

Other potential opportunities:

Gardens Single Family - Bank owned;

Single Family with Commercial usage

Condo Just Listed: 353 West Ave

Condo "Pending" 417 West Ave

Sm Duplex: Just Listed: 411 West Ave

Feel free give me or Tom a call with any questions. Should anything pop-up interesting, just let us know and we will get them all the details.

Best regards,

Doug Masi
Tom Walsh
609-412-5873 Doug
267-664-9461 Tom

Search our MLS by visiting www.NewJerseyHomes.net

Last chance to refinance below 5%

2009-12-01T10:13:00.000-08:00

NEW YORK (CNNMoney.com) -- If you want to refinance your mortgage into a loan with a sub-5% interest rate, better hurry. Your window of opportunity is closing fast.

Lenders are still advertising rock-bottom interest rates, but for most borrowers, rates are rapidly rising into the 5%-plus category.

During the week of Jan. 7, the average 30-year, fixed-rate loan closed at 5.09%, according to mortgage giant Freddie Mac. That is significantly higher than the 4.71% it averaged at the beginning of the month, and experts say rates will go higher yet.

"Interest rates are up and they're not going to go down below 5% again," said Mark Zandi, chief economist for Moody's Economy.com, not for a while at least.

While homebuyers are still excited about these low mortgage rates, people who already have a loan and want to lower their costs are scrambling to lock in.

Refinancers act when the difference between the rate they're currently paying and the new one is at least a point or two wide, otherwise the costs of going through the refinancing wipes out any savings. In fact as rates rose in December, refinancings plunged, down more than 30%, according to the Mortgage Bankers Association.

A big reason for the jump is that a government program that has kept rates very low is winding to a close. The Federal Reserve has been purchasing mortgage-backed securities since early 2009, scooping up as much as $1.25 trillion worth. That has dampened rate increases by providing a ready market for the securities.

But the Fed's program lapses on March 31, when it cedes the playing field to private investors, who will almost surely demand higher rates. The Fed has already been slowing its purchasing, and that has corresponded with the recent rate increases.

As Treasurys go . . .

Not just mortgage rates have turned north. Treasury yields have as well, another indication that mortgage rates are headed skyward.

The yield on the benchmark 10-year Treasury has grown steeply over the past few weeks. It stood at 3.2% at the beginning of December and has soared to 3.84% as of Tuesday, a 20% jump.

Mortgage interest does not track Treasury yields in lockstep, but the two tend to mirror each other's movements.

Mortgage securities rates are always higher than Treasury yields because investors demand a premium above practically risk-free Treasurys.

The difference between mortgage rates and Treasury yields is usually somewhere near 1.7 percentage points, according to Keith Gumbinger of HSH Associated, a publisher of mortgage information. The current spread of about 1.2 percentage points is quite narrow.

That's bound to change, according to David Crowe, chief economist for the National Association of Home Builders. He believes mortgage rates will go up to about 5.5% by late summer. But other factors could push them into a larger-than-expected jump.

Economy bouncing back

For example, as the economy improves (it's hoped), businesses will expand production, hire new workers and open new sales outlets. All that requires borrowing in capital markets and the demand for lending will expand interest rates of all kinds.

A recovering economy also boosts corporate profits, making stocks a better bet for investors.

"Stocks tend to do better when the economy improves," said Stuart Hoffman, chief economist for PNC Financial Services. "Mortgage rates will rise to attract investment."

Hoffman's forecast is for rates to stay quite constant the rest of the winter and then elevate gradually during the spring buying season, the busiest time of year for home sales. He said they should hit about 5.5% by the end of June.

After that, the increases will slow, according to Hoffman, but still approach 6% toward the end of the year. He believes they'll cap at around 5.75% and are not likely to fall back to the 5% level again.

Special Note:

There are programs for folks underwater in their loan. Wells has a program called HARP that will refi up 125% of the appraisal price.

If we can be of any help in a referral or relocation please let us know by filling in our form here.

Your Contact Information

2009-10-30T10:15:00.000-07:00

Just That Quick!

(If you just filled in our Full Contact Webform, your contact information has been updated.)

Thank you for submitting your contact information. You can come back here anytime to update any additional information which may change from time to time.

The form is in our blog menu under Full Contact Information.

Anytime you come across a friend or family member who is in need of real estate services anywhere, please feel free to have them either call, email or visit our active blog site here.

Doug Masi - 609-412-5873
email: dmasi@kwocnj.com

Tom Walsh - 267-664-9461
email: twalsh@kwocnj.com

Thanks for your interest in the new up coming series.

2008-12-04T17:01:00.000-08:00

We look forward to sharing some interesting points with you shortly.

Anytime you come across a friend or family member who is in need of real estate services anywhere, please feel free to have them either call, email or visit our active blog site here.

Doug Masi - 609-412-5873
email: dmasi@kwocnj.com

Tom Walsh - 267-664-9461
email: twalsh@kwocnj.com

If you would like to search any properties feel free to visit anytime www.NewJerseyHomes.net