Never Trust Zillow!

Ok, I'm on a little bit of a rampage on 'Zestimate' since these adorable first time home buyers just left my office. We went through monthly payment for the house they saw on Zillow, and the payment I came up with was $1700/month. The husband looks on his phone, and says "Why on Zillow does it show the estimated payment as $1200/mo?"

So $500/mo difference. My interest was peaked. First off, it had no PMI, so the system must assume a 20% down payment. Secondly, they had the taxes pulling from the tax rolls, which you and I both know is underestimated half the time if the seller is a pro at protesting their taxes! So there you have it! ZILLOW is not my favorite site. It misleads borrowers into a false payment scenario. More reason for you to EDUCATE YOUR BUYERS TO GET PRE APPROVED BY A REPUTABLE SOURCE! 

 

In the Markets:

Read Here to see why rates were slightly higher this week!

Upcoming

 Training Workshops

Lunch & Learn:

Taxes for Realtors

Learn tips and tricks from a CPA!

Wednesday, March 9th

@ 12:00pm

*Lunch Included*

2500 City West Blvd

Suite 750, 77042

-

Breakfast & Learn:

Tactics to Work Successfully with Title and Lenders in the New World of TRID

Thursday, March 10th

@ 8:45am

*Breakfast Included*

Cafe Express - Uptown Park

1101 Uptown Blvd, 77056

RSVP to Annette:

713-579-3606

Annette.ernstein@legacymutual.com

88 Things

Germs! They are always looming and you never know when they will surface. Well, they did this week in my house. The infamous stomach flu, 24 hour thank goodness. We all got it in sequence. Son, me , husband, other son. Only our nanny escaped the wrath!

Speaking of surfacing when you least expect it. Did you know that I have counted AT LEAST 88 things that can go wrong in your transaction? I'm sure I have forgotten some. CHECK OUT MY LIST!  I will be coaching buyers when we consult for the pre approval, and help explain that is why choosing a trusted professional like YOU their realtor, and ME for the lender, is a wise choice! We will help alleviate the pitfalls!

MY TEAM CAN CLOSE YOUR BUYER by 3/31 if we have a contract Friday 3/4 by 5 pm. Let us help your next buyer! Conventional and FHA only, Jumbo please call first.

In the Markets:

Read Here to see why rates were slightly higher this week!

Upcoming

 Training Workshop

Snack & Learn:

Tactics to Work Successfully with Title and Lenders in the New World of TRID

Wednesday, March 2nd

1:45  - 2:45 pm

*Snacks Included*

-

Lunch & Learn:

Income Taxes for Realtors

Wednesday, March 9th

@ 12:00pm

*Lunch Included*

Events Located at:

2500 City West Blvd

Suite 750, 77042

RSVP to Annette:

713-579-3606

Annette.ernstein@legacymutual.com

The Convincer

My kid Diego , 10, is going to be an attorney, or a very successful salesman when he grows up. He has been on a 3 week ban from taking the ipad to school (which 'ruined' his life by the way), and it ends today. The catch is he had to make grades on all homework, etc > 80. He had a spurt of some low grades last month. Really low. So its worked! We have grades back in the 90's. So today, with his long eyelashes, sweet voice, etc he convinced me to let him have the device a day early, since 'its's Friday and all'. So mom caved, and there you have it!

Speaking of convincing, hopefully you have seen myBUILDER PANEL invite for 2/24 Wed. ! Scroll down for more info! Two developers, and 4 builders from ALL price ranges around the city. Talking about how to best sell their product, who their target buyer is, and how new construction will take us into the next decade! Awesome! Be sure to register so you get a box lunch at the end! NOT TO BE MISSED!!!!!!!

In the Markets:

Read Here to see why rates were slightly lower again this week!

While a stronger dollar, and lower oil prices have helped stamp out inflation this year (keeping rates low) ,  the service sector has remained strong and costs have been rising. In particular, shelter and medical costs have increased over the past year. Mortgage rates are highly influenced by the outlook for future inflation. Watch out! If the trend toward higher inflation were to   accelerate, it would be BAD for mortgage rates.    As usual, I will keep you posted.

 

-Jen

ps....Remember to RSVP for Wednesday's Builder Panel!

 

pss. Send us your next deal! Still closing in under 30 days! (Jumbo is 45)

Upcoming

 Training Workshop

Lunch & Learn:

Builder Panel: Trends in New Contstruction and How to Market to Your Buyer!

Wednesday, February 24th

11:30 am - 1:00 pm

*Box Lunch Included after the event*

2500 City West Blvd

Lonestar Room (Downstairs)

-

Snack & Learn:

Tactics to Work Successfully with Title and Lenders in the New World of TRID

Wednesday, March 2nd

1:45  - 2:45 pm

*Snacks Included*

2500 City West Blvd

Suite 750, 77042

RSVP to Annette:

713-579-3606

Annette.ernstein@legacymutual.com

Don't Miss Our Builder Panel!

In the Markets:

Read Here to see why rates were slightly lower this week!

Happy Valentines Day! Wishing you a relaxing weekend filled with love and friendship.

xo The Hernandez Team

ps....be sure not to miss our Builder Panel on 2/24!!!!  Cane Island developers will be there! One of our 6 special builder/developer guests! Scroll down for more info!

Upcoming

 Training Workshop

Lunch & Learn:

Credit Basics: Facts vs Fiction

Wednesday, February 17th

12:00pm

*Lunch Included*

Legacy Mutual Mortgage

2500 City West Blvd, Suite 750

-

Lunch & Learn:

Builder Panel: Trends in New Contstruction and How to Market to Your Buyer!

Wednesday, February 24th

11:30 am - 1:00 pm

*Lunch Included*

2500 City West Blvd

Lonestar Room (Downstairs)

RSVP to Annette:

713-579-3606

Annette.ernstein@legacymutual.com

Siri and Parenting

The other day I was talking to Siri to dial so and so...and she shouted back at me in Chinese! What the hey? All day....Mandarin characters were spitting back at me and I thought I was in the twilight zone.  Turns out my kiddo changed my Siri settings without me knowing.  Problem is, I didn't know how to change it back. Rather than punishing him....I took the fall as the negligent parent, letting my kids have the passcode in the first place. I know what you are thinking. YES I CHANGED THE PASSCODE!

GREAT ARTICLE ABOUT OIL & HOUSTON:

This is a great read  about how the oil and gas industry will be the dominant component in providing worldwide energy demands into the future.   READ HERE.

TRID TRIVIA - True or False?

A spouse that is not on the note must sign the CD before the 3 days can start.TRUE

In the Markets:

Read Here to see why rates got even lower this week!

Upcoming

 Training Workshop

Lunch & Learn:

Anatomy of 1-4 Contract(MCE Credit - $25/person)

Wednesday, February 10th

12:00 - 3:00 PM

*Lunch Included*

Legacy Mutual Mortgage

2500 City West Blvd, Suite 750

-

Breakfast & Learn:

Summary of Recent Trec Changes

Thursday, February 11th

9:00 - 10:30 AM

*Breakfast Included*

Cafe Express - Uptown Park

1101 Uptown Park Blvd, 77056

-

Lunch & Learn:

Credit Basics: Facts vs Fiction

Wednesday, February 17th

12:00pm

*Lunch Included*

Legacy Mutual Mortgage

2500 City West Blvd, Suite 750

RSVP to Annette:

713-579-3606

Annette.ernstein@legacymutual.com

Houston Growth and Prosperity

All day I have been contemplating whether to use this as my opener, but I'm gonna go for it.....So my 10 year old, likes to watch the debates with us. Fernando and I were mentioning something in conversation about Bill Clinton, and Diego says , " Is that the guy that said he didn't have relations with that woman? Oh, and what does relations mean?". 

Just great. Where do they hear this stuff?

TRID TRIVIA -

Did you know we have heard of lenders asking title companies to prepare the CD's? Wow..that is just scary.

Did you also know that Legacy is working on a 21 day close guarantee? That is right. We are mastering this TRID thing, and are going to get back to quick closings. Wait for more news on this!

 

In the Markets:

Mortgage rates are healthy and low, thanks to news of global slowdowns overseas, and the FED announcement that rates will stay for now. READ MORE HERE.

Houston Growth & Prosperity

If you missed my panel this week , you missed a good one! We had directors from the East End, Uptown and Energy Corridor here, and 55 of you showed up! Awesome! They talked about how their districts are making strides in transportation and infrastructure to take this city to the next decade! Watch out! Cool things happening in the next 5 years!

Companies will see Houston as THE place to relocate Headquarters. Just you wait! F

or more information visit their websites:

Energy Corridor:

http://www.energycorridor.org/

 

Uptown:

http://www.uptown-houston.com/page/home

 

East End:

http://www.greatereastend.com/

Upcoming

 Training Workshop

Lunch & Learn:

TRID: Best Practices

Wednesday, February 3rd

@12:00pm

*Lunch Included*

-

Lunch & Learn:

Anatomy of 1-4 Contract(MCE Credit - $25/person)

Wednesday, February 10th

12:00 - 3:00 PM

*Lunch Included*

Events Located at:

2500 City West Blvd

Suite 750, 77042

RSVP to Annette:

713-579-3606

Annette.ernstein@legacymutual.com

Legacy Rocks!

You know the saying that behind every great woman there is a great man, etc? Well, behind every great producer there is a great company! I have just spent the last 2 days at our Annual Sales Retreat. We have won awards, put our 'dream' board together of our wish list for the year, and supported each other in our 2016 journeys! Legacy helped 4025 families last year with only 33 loan officers! I will save you the math, its an average of 10 loans per loan officer (industry average is 3) ! I'm surrounded by rock stars! Why Legacy? We close loans efficiently, on time and with tons of communication. And we only hire rock stars. THAT'S WHY! #legacyrocks #hdzteamrocks

TRID TRIVIA - True or False?

For the 3 day waiting period to start after the CD is delivered to the borrower, they MUST esign it.

False! As long as it is sent through our system, and we track that it was viewed and opened with a time stamp, we are good! BEWARE. Some lenders are taking this to the extreme, and making the customer actually sign before the 3 days can start.

Feeling lost about TRID? Attend my TRID Lunch N Learn on Feb 3!

 

In the Markets:

CLICK HERE to see why there was such little change in the rates this week!

Upcoming

 Training Workshop

Client Workshop:
Houston Growth & Prosperity Into the Next Decade

Wednesday, January 27th

@ 12:00pm

Located at:

2500 City West Blvd

Westchase Room (Downstairs) 77042

Bring your clients!

*Lunch Included* 

Lunch & Learn:

TRID: Best Practices

Wednesday, February 3rd

@12:00pm

Located at:

2500 City West Blvd

Suite 750, 77042

*Lunch Included*

RSVP to Annette:

713-579-3606

Annette.ernstein@legacymutual.com