Looking Upward from the Ground

Over here where I work we get bonuses based on loan volume and that compensation system resets every year.  So today I begin again on the ground like this kid who is dressed much too nicely to cover himself in rocket fuel.  It’s been that way pretty much forever, but I still get anxious every January about how this next year will turn out. That angst this new year is compounded by the recent upturn in interest rates.  And as a result of higher rates, I see a 22% downturn in my business for 2017 compared to 2016. On the plus side, that’s 22% more time that I have to carefully establish helpful relationships with clients, rather than just cram all of their paperwork through an over-regulated system.  I am excited about this opportunity to detox and reconnect.  I am excited about becoming a better Jeremy.

Ever gathering and calculating data, CoreLogic reports this morning that their Home Price Index appreciated by 1.1% last month and 7.1% from this time last year, nationwide. We have heated up since last month’s 6.7% year-over-year gain, but CoreLogic is expecting a cooling off and only a 4.7% price increase by this time next year.

Home Price Index

CoreLogic reports that home prices, including distressed sales, rose 6.9% from August 2014 to August 2015.  This 1.2% increase from July to August is accounted for by the settlement deadline of school starting in September and I really want this house. First-time home buyers accounted for 32% of Existing Home Sales in August 2015, up from 28% in July 2015, and also up from 29% of the existing sates in August 2014.

Still getting the kinks out of out TRID system that started yesterday in our office, but it isn’t slowing us down.  I still expect to get deals closed in 30 days.