Luxuriously Smart Real Estate

New Survey Says Social Media DOES Play Role In Homebuying Process

ArdynnPR — Thu, 26 May 2011 16:33:38 +0000

By Michael D. Harris Jr

There has been plenty of talk recently regarding the use of the Internet during the home buying process. We have known for a few years that consumers have found online resources beneficial as they make the most important financial decision of their lives. Besides that fact that they can easily educate themselves on the process (mainly first-time homebuyers), they no longer have to physically visit their REALTOR to get started. According to a recent survey of Internet usage commissioned by Prudential Fox & Roach as reported by an article in the Chicago Tribune, almost two-thirds of home buyers said they used other resources, beyond their agents, to identify potential homes, with five of the top six resources being on the Internet, including a real estate website (63 percent), the website of the agent’s real estate firm (54 percent), and a search engine (39 percent).

While these numbers are interesting and are steadily increasing year-over-year, what I found the most intriguing was the fact that we are starting to see social media mentioned in these type of surveys. The same survey reports that thirty-five percent said they used recommendations found on social-media sites such as Facebook, LinkedIn, YouTube or Twitter. This is staggering when you look at the fact that according to a recent survey by the National Association of REALTORS® only 51% of REALTORS use social media in their businesses.

While social media sites such as Facebook, LinkedIn, YouTube and Twitter all hit the radar, Facebook was the dominant site identified, by 69 percent of the respondents in the Prudential Fox & Roach survey. Most likely the reason Facebook stands out amongst the other social media sites is due to a number of functionality factors that is unique to the platform.

Multiple methods of engagement
Photo and Video capabilities
Real Estate Listing Apps
Website Integration
Note feature for in-depth educational information
Blog and Twitter feed integration

So for all of you buyers and sellers out there, don’t leave social media out of your real estate endeavors. These numbers will continue to increase and not do they offer another resource but a whole new way to conduct your real estate business.

Rates In Motion Episodes 63 – 73 Featuring Mike Cox

ArdynnPR — Wed, 25 May 2011 21:44:41 +0000

I Would Like Someone to Stump Me! (Episode 73)

I hope everyone is having a great time and learning a lot over at Agent Reboot today! Thanks for the massive amount of questions yesterday. You guys have supplied me with some awesome discussion topics for future videos. Keep ‘em coming!

I don’t want you to be afraid to ask the hard questions. That is what I’m here for! Lets see if you can stump me! I welcome the challenge. To help encourage the tough questions, I will give anyone a $100 American Express gift card if they can send me a mortgage question I can’t answer. Let’s have some fun with it!!

In today’s video, I answer Kevin Hill’s question about owner occupancy if you let the seller live there for a while until their home purchase goes through. It’s a tough one, but I have an answer.

There’s more in today’s video:

(Watch it on your mobile phone or email reader here)

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Today’s question is from real estate agent Kevin Hill. In response to the video I did on being up front with your occupancy, he asked “What if the owner intends to live there, but grants a use occupancy for the seller to stay there until the home he is buying closes?

The key is INTENT. If your buyer intends to live in the property they are on the right track. The guidelines state they must take occupancy within 60 days on a conventional loan. Now with that being said, I am not sure the investor would be knocking on their door at 65 days. Anything after 60 days would be at your own risk. Any investor could call the note due and payable after the 60 days, so to be on the safe side I would play by the rules.

Bonds are starting the day in the negative territory. Today is going to be a very interesting day as the fed releases their interest rate decision and monetary policy statement. This will have some impact on rates. We will have to see how much. Mr. Bernanke is giving his first ever chairman’s new conference today at 2:15 Eastern. Needless to say it is going to be a bumpy ride today.

My advise it still to lock!

Today’s rates with NO lender fees are 4.75% on a 30 year, 4.0% on a 15 year and 3.125 % on a 5/1 ARM. These are best rates I found today with NO lender fees.

If you’re in the Milwaukee area stop on by to say hi. I be there listening to Gary Vaynerchuk and it will be a great time. Milwaukee is fun every night, even Tuesdays. Click here to find out where we will be. I look forward to seeing you there.

Also, if you have a minute, please share today’s video with the world any way you like (use a carrier pigeon if you want), and let’s change the way people shop for a mortgage forever!

See you tomorrow!!

- Mike

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To ask a question, get advice, or find out what your lender is making off your loan, just post a comment with your question or send me a detailed loan scenario by clicking here.

Click here to visit the community of Rates in Motion viewers on Facebook.

I love interaction!

Top 3 Things You Should Tell Your Loan Officer (Episode 72)

This is the best Rates in Motion episode ever!

Hey, I know that mortgages are boring and confusing, so today I offer some advice on what you need to tell your loan officer when shopping for a mortgage. I hope it helps. Let me know if you have any questions about the industry, carrier pigeons, or any other crazy stuff we talk about today.

For all the viewers that are real estate agents, the Agent Reboot conference tour just gave me 5 passes to give away to agents who ask questions using the Rates in Motion Facebook community or tweet a question to me @RatesinMotion. You’ll get an extra entry for every “Like” your question gets on Facebook or each retweet it gets on Twitter.

Let’s get some discussion going!

Post your questions and we’ll announce the five winners at 4:00pm CT.

Also, Gary Vaynerchuk will be in my neck of the woods (Milwaukee) and I can’t wait to finally meet him. His video blogs about wine have helped change the way people get free information (like Rates in Motion). His energy has informed and inspired many, myself included. His books The Thank You Economy and Crush It are great too.

There’s more in today’s video:

(Watch it on your mobile phone or email reader here)

___________________________________

Agents, looking to reboot your career and help revolutionize the real estate industry? Check out Agent Reboot 2011 in Minneapolis!

Here are the top three things you should be telling your loan officer to make sure they are putting you in the correct mortgage. The correct mortgage will save you a ton of money.

How long you will be in your house
Your financial goals
How much money do you have to put down on your new home or pay down your existing loan?

You need to be smart on how you structure your loan. Unless your loan officer is a psychic you need to tell them your goals. Mortgages do not come in a one size fits all package. You need the mortgage that fits you like a glove.

Mortgage Bonds are higher this morning as the Bond market prepares for a fresh round of government debt auctions and the Federal Open Market Committee meeting that begins this morning. Today should be interesting.

I still think you should lock in the short term.

Today’s rates with NO lender fees are 4.75% on a 30 year, 4.0% on a 15 year and 3.125 % on a 5/1 ARM. These are best rates I found today with NO lender fees.

Also, if you have a minute, please share today’s video with the world any way you like (use a carrier pigeon if you want), and let’s change the way people shop for a mortgage forever!

See you tomorrow!!

- Mike

____________________________________

To ask a question, get advice, or find out what your lender is making off your loan, just post a comment with your question or send me a detailed loan scenario by clicking here.

Click here to visit the community of Rates in Motion viewers on Facebook.

I love interaction!

One Magic Question to Ask Every Loan Officer (Episode 71)

Today I talk about the one question you should ask every loan officer when you’re shopping for a mortgage lender.

Also, a large group of real estate agents will be meeting in Minneapolis on Wednesday to “Reboot”. Looks like a great gathering produced by our friends at Inman News.

If any real estate agent or broker has questions, we’ll be doing a special episode on Wednesday to answer them. To have your question answered, just email Mike@RatesinMotion.com, tweet @RatesinMotion, or post on the Rates in Motion Facebook wall.

It’s all in today’s video:

(Watch it on your mobile phone or email reader here)

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Agents, looking to reboot your career and help revolutionize the real estate industry? Check out Agent Reboot 2011 in Minneapolis!

I want to make your mortgage shopping experience simple. Here is what you do. When you are talking to several loan officers during your quest to get the best deal, ask one simple question before you give them any information for a mortgage quote:

Will you match or beat any deal I find elsewhere?

That’s it! If they say no, keep shopping. If they say yes, then add them to your list as a potential person to work with. When you ask this question it lets the lender know you are going to shop them and they will be more likely to give you a better deal up front. The simple fact is some lenders won’t work with a rate shopper. That’s fine! You don’t want to work with them either. This simple question will put you on the right path.

Mortgage Bonds are starting the slightly higher today. We have a strong ceiling of resistance that are keeping bonds in check. It is going to be an interesting week as the Fed starts its two day meeting tomorrow. The Fed will announce their interest rate decision and policy statement on Wednesday along with a news conference with Fed Chairman Ben Bernanke. This is an effort to bring clarity to the markets and the public. Lets see how that goes. How clear will they be? We’ll see.

With these current rates I still think it is a good time to lock.

Today’s rates with NO lender fees are 4.75% on a 30 year, 4.0% on a 15 year and 3.125 % on a 5/1 ARM. These are best rates I found today with NO lender fees.

Mortgage Bonds are a down a bit this morning from yesterday and are at a ceiling of resistance going into the Holiday weekend. The bond market is closing early today and closed all of tomorrow in observance of Good Friday. That means no video tomorrow. I know you will miss me!

If you Like this information please post it, share it, tweet it, and forward it to everyone you think could use it. If you have an iPhone, Android, or Blackberry smart phone, don’t forget to download the free Rates in Motion LoanApp.

On your phone, go to:

- iPhone: http://bit.ly/g9SQNP
- Blackberry: http://bit.ly/eOaxE8
- Android: http://bit.ly/eFuhaC

The activation code is: 9203780002

See you tomorrow!!

- Mike

____________________________________

To ask a question, get advice, or find out what your lender is making off your loan, just post a comment with your question or send me a detailed loan scenario by clicking here.

Click here to visit the community of Rates in Motion viewers on Facebook.

I love interaction!

Is it Really Hard to Get a Mortgage? (Episode 70)

Special thanks today to Michael D. Harris Jr., who is the editor of The Lime Magazine and president of Ardynn Media Group. Rates in Motion now has its very own tab on his online magazine!

We’re looking forward to fitting right in with the other industry and technology news they have for Realtors. I love me some technology! If your looking for some great real estate info start there.

I do!

Today I want to address something that I just heard from an agent friend of mine. She was following up with a buyer from last year that was waiting until Spring, but when she called them they said they are no longer in the market because it is to hard to get a mortgage. I know lending has tightened, but these home buyers got some bad information.

I respond in today’s video:

(Watch it on your mobile phone or email reader here)

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The people in today’s episode had great credit and money set aside for a down payment. They should have no problem getting a mortgage. There are a ton of loan programs out there especially for first time home buyers:

FHA – 620 score required and 3.5% down
USDA – 620 score required and 0% down
Conventional financing – 680 score required and 5% down
FHA 203(k) – 620 score required and 3.5% down, but you can get money at closing to rehab the house.

You can get financing on just about any home!

If you go to your local credit union they will not have all these options. Sorry small bank USA. It’s the truth.

You need to find a lender that will give you options and you will quickly discover that it’s not as hard as you think. You just need the right person to show you your options.

Today’s rates with NO lender fees are 4.75% on a 30 year, 4.0% on a 15 year and 3.125 % on a 5/1 ARM. These are best rates I found today with NO lender fees.

On your phone, go to:

- iPhone: http://bit.ly/g9SQNP
- Blackberry: http://bit.ly/eOaxE8
- Android: http://bit.ly/eFuhaC

The activation code is: 9203780002

See you tomorrow!!

- Mike

____________________________________

To ask a question, get advice, or find out what your lender is making off your loan, just post a comment with your question or send me a detailed loan scenario by clicking here.

Click here to visit the community of Rates in Motion viewers on Facebook.

I love interaction!

Do I Need PMI? (Episode 69)

I’m on the road again, this time shooting from my hotel room.

Some of my friends jokingly call me the “Godfather of Rates”, so we had a little fun in this episode answering a question about Private Mortgage Insurance (PMI) and whether you’ll need it or not.

Check out today’s video:

(Watch it on your mobile phone or email reader here)

___________________________________

Today’s rates with NO lender fees are 4.75% on a 30 year, 4.0% on a 15 year and 3.25 % on a 5/1 ARM. These are best rates I found today with NO lender fees.

On your phone, go to:

- iPhone: http://bit.ly/g9SQNP
- Blackberry: http://bit.ly/eOaxE8
- Android: http://bit.ly/eFuhaC

The activation code is: 9203780002

See you tomorrow!!

- Mike

____________________________________

To ask a question, get advice, or find out what your lender is making off your loan, just post a comment with your question or send me a detailed loan scenario by clicking here.

Click here to visit the community of Rates in Motion viewers on Facebook.

I love interaction!

Home Purchase Appraisal Problems (Episode 68)

Sometimes appraisals go the wrong way. That’s usually bad news if you’re all ready to move in.

Today I talk about why an appraisal can be an issue and ways to fix the situation if an appraisal comes in too low when trying to buy a home.

I explain more in today’s video:

(Watch it on your mobile phone or email reader here)

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There are a couple things you have to consider when having purchase appraisal problems. How was that purchase price determined in the first place? Did the seller set their own value based on a old appraisal or did the realtor do an accurate market evaluation on the property? A good market evaluation on a home will use comparable property sales within a small radius from the subject property.

If you’re to a point where you’ve gotten back an appraisal and it doesn’t meet or exceed the sale’s price, you can do a couple things.

Reduce the purchase price
Bring more money to the table

I would have the seller reduce the purchase price all day long since every other buyer is going have the same problem on their house. The old saying of “Something is only worth what someone is willing to pay for it” eoes not apply to real estate, unless you have cash.

Today’s rates with NO lender fees are 4.75% on a 30 year, 4.0% on a 15 year and 3.25 % on a 5/1 ARM. These are best rates I found today with NO lender fees.

On your phone, go to:

- iPhone: http://bit.ly/g9SQNP
- Blackberry: http://bit.ly/eOaxE8
- Android: http://bit.ly/eFuhaC

The activation code is: 9203780002

See you tomorrow!!

- Mike

____________________________________

To ask a question, get advice, or find out what your lender is making off your loan, just post a comment with your question or send me a detailed loan scenario by clicking here.

Click here to visit the community of Rates in Motion viewers on Facebook.

I love interaction!

Up Front with Occupancy (Episode 67)

Deadlines, deadlines, deadlines!

Don’t forget the deadline for income taxes and that FHA mortgage insurance premium increases kick in. To help make up for the pain, we’re launching the free Rates in Motion LoanApp goes live! It offers updated rates, monthly payment calculators, prequalification, and more. Check it out and let me know what you think.

Today I want to talk about something I mistakenly thought was obvious…occupancy on your home. Your occupancy situation changes the way your mortgage is structured and the rate you get. I want to make sure everyone knows what the guidelines are for occupancy on your home.

I explain more in today’s video:

(Watch it on your mobile phone or email reader here)

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If you have an iPhone or Blackberry, don’t forget to download the free Rates in Motion LoanApp.

Today’s rates with NO lender fees are 4.75% on a 30 year, 4.0% on a 15 year and 3.25 % on a 5/1 ARM. These are best rates I found today with NO lender fees.

If you Like this information please post it, share it, tweet it, and forward it to everyone you think could use it.

See you tomorrow!!

- Mike

____________________________________

To ask a question, get advice, or find out what your lender is making off your loan, just post a comment with your question or send me a detailed loan scenario by clicking here.

Click here to visit the community of Rates in Motion viewers on Facebook.

I love interaction!

Top 5 Things that Can Kill Your Mortgage Application (Episode 66)

Here’s my top five things that will kill your mortgage application or give you one BIG mortgage headache!

Openingnewcreditorusingupyourcurrentcredit.
Missingpayments.
Making large deposits without a paper trail.
Switching jobsinthemiddleofyourmortgageprocess.
Notbeingup-frontwithyourloanofficer.

I explain more in today’s video:

(Watch it on your mobile phone or email reader here)

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The world’s oldest man died yesterday in Montana. Walter Breuing was 114 years old. In an interview, he said that the reason for his longevity was eating two meals a day, working as long as he could and embracing change.

Just imagine how much the world has changed over the last 114 years! You have to adapt. I thought this story was inspiring due to all the changes in the real estate and lending world lately. It’s time to embrace the changes. It’s here and there are great opportunities that come along with change.

Click here for the full story

Here’s my top five things that will kill your mortgage application or give you one BIG mortgage headache!

5.Openingnewcreditorusingalotofyourcurrentcredit.

Don’t Buy a new car or buy a four wheeler on your credit card during the mortgage transaction.

4.Missingpayments.

Don’t be late on any of your bills but especially the ones that show up on your credit. Yes, your electric bill shows up on your credit bureau.

3. Making large deposits without a paper trail.

Large deposits are a red flag for borrowed money. You need to source and season all funds!

2. Switching jobsinthemiddleofyourmortgagetransaction.

Don’t switch from a W2 employee to self-employed either. You better be prepared to buy the house with cash it you do.

1.Notbeingup-frontwithyourloanofficer.

This will save everyone a lot of headaches and help them structure your loan correctly from the beginning. I can tell you this is the biggest issue with mortgage turndowns or delays. Your mortgage professional is there to help. Tell them everything.

Avoid these 5 items and you will increase your chances with a successful stress free loan closing.

Rates are flat today. Mortgage bond are seeing a nice rally this morning in response to a tame monthly consumer price index inflation reading and the new from overseas. US bonds continue to be a safe haven for investors.

Today’s rates with NO lender fees are 4.75% on a 30 year, 4.0% on a 15 year and 3.25 % on a 5/1 ARM. These are best rates I found today with NO lender fees.

Contact me with your loan scenario and I will let you know if you’re getting the best deal based on your situation. At the very least send this video to your lender and tell them you want these rates with no lender fees.

If you Like this information please post it, share it, tweet it, and forward it to everyone you think could use it. Tune in Monday for a free Rates in Motion iPhone app.

See you on Monday and have a superb weekend!!

- Mike

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To ask a question, get advice, or find out what your lender is making off your loan, just post a comment with your question or send me a detailed loan scenario by clicking here.

Click here to visit the community of Rates in Motion viewers on Facebook.

I love interaction!

The Dark Side of Referrals (Episode 65)

Mortgage rates are down today!

Today I wanted to share my experiences at a meeting of home buyers. The look on their faces was priceless!

I also cover:

Why referrals aren’t always good for you
The difference lower mortgage rates make

Here’s more:

(Watch it on your mobile phone or email reader here)

___________________________________

Just in case you missed yesterday’s episode, I went on the road to see a group of realtors and their pre-approved buyers. I showed the realtors the importance of making sure their clients are getting the best deal on their mortgage and showed the buyers a couple methods of shopping around.

It is always funny to see the expressions on people’s faces when I show them the difference between their current deal and the deal they should be getting. For one person, the money they would save on closing costs would get them below the 80% “Loan to Value” mark and save them from PMI.

It was great to help open the eyes of buyers and agents. Now it’s up to them to make sure they either renegotiate the terms of their mortgage or contact Mike so he can find them someone that will.

On another note, today I wanted to talk about the dark side of referrals. Don’t get me wrong, I love referrals and love referring people. When I get great service or find something I was super happy with I like to tell everyone. I assume you are all the same way. I have a great accountant – referral, Auto mechanic – referral, dry cleaner – referral. Referrals are great and they can help you get what you need.

The dark side is when you feel trapped because it’s someone who a family member or close friend recommended. I want to remind you that just because you get referred to a mortgage person, it doesn’t mean you shouldn’t shop around. 90% of all the people I talked to yesterday were getting a mortgage from a referral and were not getting a very good deal.

Just because your parent’s neighbor is in the mortgage industry doesn’t mean they have the best mortgage for you. Maybe they do! But you need to do your homework by shopping around or using the Rates in Motion rates as a comparison.

Rates are down today.

We saw an improvement in pricing late in the day yesterday. They are holding on but not by much. Take advantage of the improved rates.

If you are in the middle of the process or just getting a mortgage quote, send me your Good faith estimate and I will verify if you are getting the best deal.

If you’re not, I will help you find you someone that will. Don’t be oversold just because you think you are getting a good deal. You need to know it! Contact me with your loan scenario and I will help you out, or simply forward this on and ask your lender to match these rates.

If you like this information please post it, share it, tweet it, and forward it to everyone you think could use it. It’s time this information gets out!

See you tomorrow!

- Mike

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To ask a question, get advice, or find out what your lender is making off your loan, just post a comment with your question or send me a detailed loan scenario by clicking here.

Click here to visit the community of Rates in Motion viewers on Facebook.

I love interaction!

On the Road Again! (Episode 64)

Mike is on the road again!

This time he’s heading to a first time homebuyer group hosted by a local Realtor. There will be loan officers there, so this should be fun!

Here’s Mike’s update from the road:

(Watch it on your mobile phone or email reader here)
____________________________________

Click here to visit the community of Rates in Motion viewers on Facebook.

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Tagged: daily, Facebook, Federal Open Market Committee, Financial Services, Gary Vaynerchuk, Kevin Hill, Luxuriously Smart Real Estate, Mike Cox, Milwaukee, Mortgage loan, news, Rates In Motion, real estate, United States, video, YouTube

Rates In Motion with Mike Cox Episodes 53 – 62

ArdynnPR — Wed, 25 May 2011 19:36:13 +0000

The Thing about Homeowners Insurance (Episode 62)

Mike was nearly hit with a tornado yesterday!

Today he shares his experience driving to the studio today and talks about homeowner’s insurance.

Inside today’s episode you’ll see:

Inflation fears affecting mortgage bonds
Pictures from last night’s tornadoes in Wisconsin
Specific homeowner’s insurance recommendations

Here’s more:

(Watch it on your mobile phone or email reader here)
____________________________________

Click here to visit the community of Rates in Motion viewers on Facebook.

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Cheaper to Buy a Home, not Rent (Episode 61)

The US Government is close to shutting down, mortgage bonds are lower, and USDA, VA, and FHA loans may be affected.

However, there is good news.

Apartment vacancy rates are dropping and in many places around the US, buying a home is cheaper than renting. Grab a real estate agent, find a lender with great rates, and save some money.

Here’s more:

(Watch it on your mobile phone or email reader here)
____________________________________

Click here to learn more about 5 ways a government shutdown would affect you.

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

“No Payment” Mortgage Option (Episode 60)

What’s better than a low payment? No payment!

A new company will pay your mortgage for you if you let them use your house as a billboard!

It might be a good idea with the new loan officer compensation regulations that went into effect yesterday. Some loan officers are raising their rates and it might be nice to have a break from your mortgage payment. Plus, they promise to repaint it when they’re done.

That’s a good deal.

Check it out in today’s episode:

(Watch it on your mobile phone or email reader here)
____________________________________

Click here to learn more about Adzookie’s no mortgage payment option

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

When are Mortgage Rates Going Up? (Episode 59)

In answer to Kevin Hill’s question, Mike gets out his crystal ball to help answer the question:

When will rates actually go up as predicted?

Today Mike discusses:

- A major CNNmoney.com article
- How Japan affected mortgage prices
- US Government selling mortgage bond

Here’s more:

(Watch it on your mobile phone or email reader here)
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Click here for today’s CNNmoney.com article

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

FHA Changes Ahead! (Episode 58)

After April 18th, FHA guidelines are changing and your mortgage insurance will be more expensive for FHA loans.

Today’s episode also features:

- Taxes on your iPhone?
- US debt weighing in on mortgage bonds
- Congrats to our friends at the Insider Show for their successful launch!

Here’s more:

(Watch it on your mobile phone or email reader here)
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We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Not Lending Tree (Episode 57)

Do you think Rates in Motion is like the Lending Tree website?

If so, you’re in for a surprise. Today Mike answers one Realtor who thought it was the same concept. He also talks about what happens when a potential borrower uses a site like Lending Tree. It’s not pretty.

Here’s more:

(Watch it on your mobile phone or email reader here)
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We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

No April Fool’s Joke (Episode 56)

It might seem like an April Fool’s Day joke, but a federal judge ordered a temporary delay of the big changes that were set to begin today. It does affect rates.

Also, Mike talks a bit today about rate locks and how sometimes loan officers will use a bait and switch tactic that will cost you in the end.

Here’s more:

(Watch it on your mobile phone or email reader here)
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Click here to read more about the delay to these mortgage industry changes.

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Last Day to Lock (Episode 55)

With new mortgage industry changes beginning tomorrow on April 1st, Mike recommends that you lock in today to get the best deal on your mortgage.

Here’s more:

(Watch it on your mobile phone or email reader here)
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Today is CDH Awareness Day and Mike introduces you to a childhood condition that has touched his life. Click here to learn more and help 1000′s of children everywhere

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Lock Your Rate Before April 1st (Episode 54)

Prashant in Michigan asked if it was a good idea to lock after April 1st once the new law goes into effect and the yield spread premium (each loan officer’s behind the scenes profit) is fixed.

Here’s Mike’s answer:

(Watch it on your mobile phone or email reader here)
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Click here to learn more about Microsoft Tags that Mike talked about in today’s video

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Real Estate Perks (Episode 53)

Who doesn’t like free stuff? When shopping for a home, Mike recommends checking with the listing agent to see if they’re offering a free home warranty or inspection.

Also, don’t forget the deadline for filing taxes is coming on April 18th!

Here’s more:

http://www.facebook.com/v/156560167736553

(Watch it on your mobile phone or email reader here)
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Click here for Stephen Fishman’s 10 tax deductions for the real estate industry or self employed viewers (Inman News)

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Tagged: Advice, daily videos, FHA insured loan, Financial Services, Home insurance, homebuyers and sellers, Keller Williams Smart Team, Kevin Hill, Loan, Mobile phone, mortgage blog, Mortgage loan, Rates, Rates In Motion, sonsumer, United States Department of Agriculture

Rates In Motion Episodes 43 – 52

ArdynnPR — Wed, 25 May 2011 19:25:26 +0000

Should You Pay Closing Costs? (Episode 52)

To pay or not to pay (closing costs), that is the question today. Mike explains that it depends on how long you plan to stay in your home and what closing cost credit you can get for raising your rate.

Also, Fortune Magazine reports a positive outlook for the housing market and boldly declares “It’s Time to Buy Again.” We’d tend to agree.

Here’s more:

http://www.facebook.com/v/156356054423631

(Watch it on your mobile phone or email reader here)
____________________________________

Here’s the Fortune Magazine article Mike mentions.

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Are Online Mortgage Lenders Safe? (Episode 51)

Today Mike answers the question: “Are Online Mortgage Lenders Safe?”

He also gives tips on how to deal with online mortgage lenders and shows off a true American Castle.

Here’s more:

(Watch it on your mobile phone or email reader here)
____________________________________

Here’s the American Castles link @ColdwellBnkr shared with us on twitter.

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Mortgage Planning 101 (Episode 50)

We turn 50 today!

To celebrate our 50th episode, Mike talks about strategic mortgage planning and how it might affect your future if you don’t have the right advisor.

He urges you to get all the facts while you’re shopping and check out the new Vivos underground bunker in Nebraska while your at it. (Note: We don’t have Today’s Rates for doomsday bunkers)

Here’s more:

(Watch it on your mobile phone or email reader here)
____________________________________

Click here to check out the swanky underground bunker in Nebraska.

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Why You Need a New Appraisal (Episode 49)

It’s nice to hear good news!

Today, Beacon Economics is forecasting a 23% jump in California home prices. Mike also explains the mystery behind appraisers and why you can’t use your old appraisal.

Here’s more:

(Watch it on your mobile phone or email reader here)
____________________________________

Click here to read the California home prices report.

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Banks Walking Away from Foreclosures? (Episode 48)

Banks are walking away from foreclosures now too?

Today Mike talks about this emerging problem and also explains why you need to check your credit report for disputed accounts or errors.

Here’s more:

(Watch it on your mobile phone or email reader here)
____________________________________

Click here to watch the CNBC “Banks Walking Away From Foreclosures” report.

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Your Parent’s Mortgage? (Episode 47)

Spring is here!

If you’re waiting for Spring to go house shopping, now’s the time. While you’re thinking about financing, Mike urges you to consider what mortgage is best for you, not just for your parents or friends.

Here’s more:

(Watch it on your mobile phone or email reader here)

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Mike in Motion (Episode 46)

TGIF everyone!

Since Mike was on his way to a meeting of Realtors, he used a “hands free” iPhone mount to shoot today’s episode from his truck. We think it turned out pretty good.

Here’s more:

(Watch it on your mobile phone or email reader here)

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Why Sellers Like Low Rates (Episode 45)

Happy St. Patrick’s Day!

Today Mike discusses why it’s in the interest of sellers (and also their Realtors) to make sure the buyers have the best deal on their mortgage.

Here’s more:

(Watch it on your mobile phone or email reader here)

As promised, here’s the link to the Top 10 Irish Pubs for celebrating St. Patrick’s Day: (Click Here)

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Why is Mike Doing This? (Episode 44)

Mike takes a minute to read a letter from one viewer and answers the question everyone is asking: “Why is Mike doing this?”

Also, we’re still thinking about the tragedy in Japan, and Mike is trying to help spread the word about supporting Red Cross relief efforts. (Donate Here)

Help spread the word!

Mike will donate $1 for every person who shares this “call to action” episode on Facebook or Twitter. You can use the share buttons below.

Here’s more:

(Watch it on your mobile phone or email reader here)

Here’s the link to the Think Big Work Small episode from today that explains why costs are going up no matter what at the end of the month: (Click Here)

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Tragedy Pushes Mortgage Rates Down (Episode 43)

Rates are in motion today!

Mike’s “No Lender Fee” mortgage industry rates were down sharply today as the tragedy in Japan worsened and investors fled for safer ground in mortgage bonds.

Our thoughts and prayers are with the people of Japan.

Here’s today’s video:

(Watch it on your mobile phone or email reader here)

We love interaction!

To ask a question, get Mike’s

Tagged: Advice, blog, California, closing costs, CNBC, daily video, Fortune (magazine), home buyers and sellers, Keller Williams Smart Team, Loan, Luxuriously Smart Real Estate, Mike Cox, Mobile phone, Mortgage loan, Rates In Motion, tips, United States, YouTube

Rates In Motion Episodes 32 – 42

ArdynnPR — Wed, 25 May 2011 19:19:42 +0000

Help! My Spouse Has Poor Credit (Episode 42)

With Japan in shambles and the Middle East still in a revolutionary mood, mortgage rates are conflicted and fluctuating. If you are a business owner (or are married to one) with bad credit, Mike explains the options for getting your next mortgage.

(Watch it on your mobile phone or email reader here)

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Episode 41 – Time to Use Mike!

TGIF!

Mike shows off the new $60,000,000 “Most Luxurious Home in the US” listing that The Jills team at Coldwell Banker just listed in Miami.

He also explains how rates have been volatile lately due to global news and he opens up his personal phone line to help you out this weekend. He’s free help, so don’t hesitate to use him if you have any questions or wonder if you’re getting the best deal.

(Watch it on your mobile phone or email reader here)

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Here’s the link to the $60,000,000 home story.

Episode 40 – More to Your Mortgage Deal Than Just Rates

Today Mike reminds you love your mortgage and that there is more to negotiate than just your mortgage rates and fees.

Here’s more…

(Watch it on your mobile phone or email reader here)

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Episode 39 – The Best Deal Was Yesterday, Not Tomorrow!

Today Mike wonders about the new toilet shaped house from South Korea, while he takes an in-depth look at the true costs of owning your home and predicts that they are going up, not going down in the next year.

Today’s the Day!

Learn more…

(Watch it on your mobile phone or email reader here)

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Episode 38 – Should You Order an AVM?

Mike is recommending you lock today if you have a closing coming up. He also discusses how Location, Location, Location matters and highly recommends using an Automated Valuation Model (AVM) prior to wasting hundreds of dollars on an appraisal that won’t help you.

Learn more…

(Watch it on your mobile phone or email reader here)

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Episode 37 – Should You Pay for Lock Extensions?

Today Mike discusses paying for rate lock extensions and saving money on more than just your new mortgage.

Check it out!

(Watch it on your mobile phone or email reader here)

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Episode 36 – Winning the Best Rates

Can you lick your elbow?

It’s “Fun Fact Friday” and Mike gives your real estate agent tips on how to help you find a good deal on a foreclosure home and finance the repairs. There is also a surprise visitor at the end who calls in to give a motivational speech about winning.

If you’re looking to win the best rates, play “What is Your Lender Making?” by clicking here.

Check it out!

(Watch it on your mobile phone or email reader here)

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Episode 35 – Time to Seize the Day!

It’s a new day here at Rates in Motion!

To celebrate the new format, we have a lot of fun with Charlie Sheen making a guest appearance while Mike shares a passionate recommendation to “Seize the Day” before mortgage costs go up.

This is the most important (and fun) episode ever!

Check it out…

(Watch it on your mobile phone or email reader here)

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Episode 34 – Underwriting Tongue Twister Tip of the Day

Today the iPad 2 is out, some rates are down, and Mike attempts to share his underwriting “Tip of the Day” five times fast while he discusses underwriting processes and the issue of seasoning down payment funds (and closing costs) in your bank account.

Here’s more…

http://www.facebook.com/v/150340875025149

(Watch it on your mobile phone or email reader here)

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Episode 33 – The “Low Down” on Mortgage Down Payments

Today in our main segment, Mike shares the “Low Down” on mortgage down payments in this current real estate finance marketplace. He also discusses Warren Buffett’s comments about the real estate market in his letter to shareholders.

Here’s more…

(Watch it on your mobile phone or email reader here)

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question or submit a detailed loan scenario by clicking here.

Tagged: Automated Valuation Model, blog, Coldwell Banker, daily videos, Keller Williams, Loan, Luxuriously Smart Real Estate, Middle East, Mike Cox, Mobile phone, Mortgage loan, South Korea, TGIF (ABC), YouTube

Homes.com Announces Mortgage Calculator App

ArdynnPR — Thu, 05 May 2011 13:32:05 +0000

Homes.com, a division of Dominion Enterprises, announced today the release of its new Mortgage Calculator application for the iPhone. The Mortgage Calculator app joins Homes.com’s already extensive mobile suite, which includes home search applications for iPhone, Blackberry, Windows Phone 7 and Android users, as well as a mobile website, making Homes.com the first real estate portal to reach consumerson all major mobile platforms.

Homes.com’s Mortgage Calculator app offers a variety of tools to help home buyers and renters searching for their next home. The “Buy or Rent” tool, which calculates the home searcher’s best financial option based on factors like monthly expenses, local market conditions and taxes, is the first of its kind offered in a mobile app designed by a real estate search site.

Other tools on the app include:
• A debt-to-income calculator that offers feedback on whether now is a good time to buy based on the consumer’s financial circumstances
• A monthly payment calculator
• A refinance calculator

All tools are seamlessly integrated into Homes.com’s property search, linking consumers using the app directly to properties in their local market and real estate professionals on Homes.com.

“The release of this Mortgage Calculator app reinforces our commitment to serving consumers through every step of the home search process, starting with the very first step—deciding whether to buy or rent,” said Jason Doyle, Homes.com vice-president and general manager. “Using intuitive mobile technology, this user-friendly app links consumers directly to homes for sale or rent depending on their needs.”

The Mortgage Calculator is a free app now available on the Apple App Store. Click to download now.

Tagged: App Store, Dominion Enterprises, Homes.com, iPhone, Jason Doyle, Mortgage calculator, real estate, Windows Phone 7

Episode 31 – Yield Spread Premium Mystery Solved!!

ArdynnPR — Mon, 25 Apr 2011 20:06:26 +0000

TGIF everyone!

It’s game day on the Rates in Motion show and Mike shares the insider truth about Yield Spread Premiums (aka YSP or SRP). Use this insider information to get the best rate and have your lender pay some closing fees.

To play the “What is Your Lender Making” game, just comment on today’s episode on http://RatesinMotion.com or submit your information here for Mike’s help: http://ratesinmotion.com/get-help/

Tagged: blog, daily news, Federal Reserve System, Insider trading, Loan, Luxuriously Smart Real Estate, Mortgage broker, Mortgage loan, Rates, Rates In Motion, TGIF (ABC), video, Yield spread premium, YouTube

Episode 30 – FHA 203(k) Rehab Loan from HUD

ArdynnPR — Mon, 25 Apr 2011 19:51:57 +0000

With 30% of homeowners upside down in their mortgage, it’s a crazy real estate industry right now. Mike talks about the FHA 203(k) rehab loan program from HUD, and explains why this might just be the key to taking advantage of good deals on homes that needs TLC.

Tagged: blog, daily, FHA 203(k) Rehab Loan from HUD, homebuyer program, Keller Williams Luxury Homes, Luxuriosly Smart Real Estate, Mortgage, news, Rates In Motion, real estate, REALTOR, tips and advice, video, YouTube

Episode 29 – Is Your Lender Clueless?

ArdynnPR — Mon, 25 Apr 2011 19:44:42 +0000

Today Mike responds to a message from one loan officer offended by Mike’s daily updates. What do you think?

Tagged: borrowers, daily video, Keller Williams, lender, Luxuriously Smart Real Estate, Mortgage, new, news, Rates In Motion, Smart Team, YouTube

Episode 28 – The Borrow Strikes Back!

ArdynnPR — Mon, 25 Apr 2011 19:38:35 +0000

In a turn of events, one Philadelphia borrower successfully filed foreclosure on the local Wells Fargo office, and Mike talks to Kathy about the need for Pre-Approval prior to home shopping if she wants to work with a great real estate agent.

Tagged: Business, Foreclosure, Philadelphia, Pre-Approval, real estate, Real estate broker/agent, United States, Wells Fargo