Robert Krowel & All Cash Sales Down

Robert Krowel & All Cash Sales Down


As we are seeing new highs in the stock market with the Dow reaching 19,000 for the first time. We are also seeing a decline in all cash sales in Real Estate. This is good news that are economy is actually bouncing back. It means our foreclosures and short sales are at its lowest point for the last 8 years.

I am getting asked about what my thoughts are on the market. My take on the market is that we are going to see higher interest rates and with that we will see values soften up a little bit. This is a good time for the realtors and Mortgage Bankers that have the knowledge and back ground to be able to get through this. Loan Applications are down nation wide but this is normal for this time off the year. If we are to look back at 08, and 2012 you will see that we had bigger drops in those 2 election years then now.

It's time to adjust your business model and prepare for the Questions and concerns we will be faced with from Sellers and buyers. It is a buyers market right now. Interest Rates are still low and the products available for people to become homeowners are plentiful. Buyers have no reason to wait. It is our job to point them in the right direction and to be qualified for the right product. Read the Blog below.







All-cash sales represented 31.1 of the total home sales recorded in August, according to a CoreLogic report on cash and distressed home sales. This was a decline of 1.5 percentage points from cash sales in August 2015.  The company said that, if cash sales continue to decrease at the August rate, they should hit the pre-crisis rate of 25 percent by mid-2019.
Cash sales werehighest in Alabamawith a 44.9 percent share.  Other states with elevated cash sales include New York (42 percent), Florida (40.9 percent), Indiana (38.6 percent) and Kansas (38 percent).

Cash transactions peaked in January 2011 at 46.6 percentof all home sales, and at approximately the same time sales of lender-owned real estate typically made up around 27 percent of the home sales market.  While cash still accounts for a large share of REO sales, 58.8 percent, those sales now have only a 4.6 percent share and have very little impact on overall cash statistics.  


Any questions please call me 951.756.3748 or apply on the link below and someone will contact you shortly. Robert Krowel

Thank you,
Robert Krowel

Robert Krowel / Mortgage Rates Hit 17 Month High.

Mortgage Rates Hit 17 Month High.

Rates are now well above 4% for the typical 30-year fixed-rate mortgage. The average hit 4.125% on Friday–the highest since July 2015, according to MortgageNewsDaily.com. That is more than half a percentage point higher from the average on election day.

Rates on 30-year fixed mortgages move in tandem with the 10-year Treasury yield, which was 2.34% on Friday afternoon; it was just 1.88% on Nov. 8th.


For the week of November 11th the Mortgage Applications have fell more then 9% across the country.

 Now that we know the bad news / Whats the Good News?

Yes Interest Rates are on the Rise. With saying this though we are still in the Historical Lows. You can still get a mortgage in the 4's,. Of course this depends on where you fall in the spectrum with credit, DTI, LTV and the type of loan. This isn't a time for panic. This is Just what we are faced with. 

I have been in the business for a lot of years now. I have seen shifts all of the time and I study what is going on in the Country. Interest Rates are Directly driven off of the 10 year Treasury. This is the number 1 indicator with Mortgage Rates USUALLY.  Like anything else this isn't always right. 


I have been asked a lot lately by not only my team but also the Realtors I work with. Everyone needs to not panic. Even though this is a little higher then what we are use to, we still see a rise in interest rates at this time of year.  I think at this point if we continue to see a rise of interest rates, then we are going to see a decrease in values. A little bit. We are not ion a 08. This I can assure you.

It's time to educate our borrowers. It's time to brush up on our closing skills. This is not going to go away any time soon. We may never see interest rates that low any longer.

Please feel free to call me ( Robert Krowel ) with any questions

Robert Krowel
951.756.3748

Mortgage News: Robert Krowel Mortgage Interest Rates Home Sales

Mortgage News: Robert Krowel Mortgage Interest Rates Home Sales: Well Surprise! We have a new president and its Trump. Now that we have all went through the melt down process. We need to analyze what we th...

Robert Krowel Mortgage Interest Rates Home Sales

Well Surprise!

We have a new president and its Trump. Now that we have all went through the melt down process. We need to analyze what we think will happen in the Real Estate market in the upcoming years,

I've done a lot of research on this and have came to the conclusion that we have no choice that Interest Rates will rise. The Fed rate cannot stay at .125%. The Country cannot sustain at this level for to much longer, In 2008 we as a nation went below 1.0%  Federal Interest rate for the 1st time ever.

The Interest rates are going to rise slightly but nothing to be alarmed about. It will force the banks to tighten their margins and make less. We don't have to worry about the banks losing money. They make more money then we want to hear.

Where do we go from here?  The Real Estate market is still going strong. With a slow increase of values over the years. Real Estate investing is still the best choice for ownership if you are a owner occupied or a investor. Real Estate always bounces back where stocks, 401K, Ira's, and Mutual funds have seen major down turns and sometimes never making the money back. 

I would suggest that you go to a Mortgage Professional and figure out what the best strategy is for you. You can reach me at Robert Krowel I can answer any of your questions and we can get you in escrow quick;y while Interest Rates are in the 3 to 4% range.

Fell free to call me  Robert Krowel at 951.756.3748

Thank you,
Robert Krowel

Robert Krowel 1st Time Home Buyer

• Pre- Qualification: Meet with a mortgage broker and find out how much you can afford to invest for your new home.
• Pre- Approval: While knowing how much you can afford is the first step, sellers will be much more receptive to potential buyers who have been pre-approved. You also will avoid being disappointed when going after the homes you are interested in that may be out of your price range. With Pre- Approval, the buyer actually applies for a mortgage and receives a commitment in writing from a lender. This way, assuming the home you're interested in is at or under the amount you are pre-qualified for, the seller knows immediately that you are a serious buyer for their home. Costs for pre-approvals are generally nominal and lenders will usually permit you to pay them when you close your loan.
• List of Needs & Wants: Make 2 lists. The first should include items you must have (i.e., the desired bedrooms, bathrooms, square footage,etc.). The second list is your wishes, things you would like to have (Backyard, Pool, additional upgrades,etc.) but that aren't absolutely necessary. Realistically for first-time buyers, you probably won't get everything on your wish list, but it will keep you on track for what you're looking for.
• Representation by a Professional: Consider hiring your own real estate agent, one who is working for you and specializes in your needs.
• Focus & Organization: In a convenient location, keep handy the items that will assist you in maximizing your home search efforts. Such items may include:
  
  1. One or more detailed maps with your areas of interests highlighted.
  2. A file of the homes that your agent has shown to you, along with setup sheets and photos.
  3. Paper and pen, for taking notes as you search.
  4. Take pictures to help refresh your memory on individual homes.
  5. Location: Look at potential homes as if you are the seller. Would a prospective buyer find it attractive based on curb appeal, school districts, crime rate, proximity to positives (shopping, parks, freeway access) and negatives (abandoned properties, garbage dump, source of noise) features of the area.
• Be Objective: When searching for your new home ask yourself the following questions. Does this home really meet your needs? Does it financially make sense? Be Thorough: A few extra dollars well spent now may save you big expenses in the long run. Don't forget such essentials as:
  
  1. Include inspection & mortgage contingencies in your written offer.
  2. Have the property inspected by a professional inspector.
  3. Check to see that no changes have been made that weren't agreed on (i.e., closing cost, repairs, etc.). All the above may seem rather overwhelming. That's why having a professional represent you and keep track of all the details for you is highly recommended. Please email us or call us directly to discuss any of these matters in further detail.

Enclosed information is deemed reliable but is not guaranteed.

Mortgage News: Robert Krowel & VA Loans

Mortgage News: Robert Krowel & VA Loans: Robert Krowel VA Loans Robert Krowel & VA Loans I want to talk about VA loans in this Blog. Give you insight of VA loans and what...

Robert Krowel & VA Loans

Robert Krowel VA Loans

Robert Krowel & VA Loans

I want to talk about VA loans in this Blog. Give you insight of VA loans and what it takes to get a VA loan. VA loans are made through private lenders and are guaranteed by the Department of Veterans Affairs, so they do not require mortgage insurance. There's no minimum credit score requirement.


I think the first thing is to say to all Veterans is Thank you for you service. I appreciate everything that you have done.

Who is eligible for a VA loan?  Active military personnel, and veterans that have served in the armed forces and National Guard. Spouses of veterans that have passed away or have disabilities also qualify. Its all based on the Certificate of Eligibility. This will give you the amount you will qualify for.

Advantages of VA loan. This is probably one if the easiest loans to qualify for and you don't need any money down. this loan is guaranteed by the VA and has no Mortgage Insurance.

Who pays the fees? my team and I try and cover all fees on these loans. the thing i see veterans having to pay is the taxes and insurance. I cover all fees in most cases.

Interest Rates? the interest rates are usually one of the best rates out there. They tend to be lower then Conventional and FHA loans.

What does it take to qualify for a VA loan? 1st is to be a veteran or spouse like I have stated above. You will need at least a 580 credit score and a job for at least a year. It will also take you to qualify Debt to income as well. This varies depending the borrower and if we get a DU approval or if its a manual underwrite. Loans that have a DU approval are able to go much higher then usual on a VA loan. If it is a Manual underwrite then they tend to want to see the ratios no higher then 45%. this is also dependent on the situation.

If you are ever in need of a VA loan please reach out to me (Robert Krowel)  or one of my team members.  please go to Va loans Specialist  and click apply and we will get you Pre approved.  You can also reach me at 951.756.3748

Thank you
Robert Krowel