Freddie Mac Taps New CEO
Former E*Trade Financial Corp. chief executive Donald Layton has been selected as the next CEO of government-sponsored enterprise Freddie Mac. Layton, who is slated to take the post on May 21, succeeds previous CEO Charles Haldeman Jr. Haldeman said last fall that he would resign this year.

With 30 years of experience at JPMorgan Chase, the 62-year-old Layton brings a significant background to the position. He has also served as senior adviser to the securities Industry and Financial Markets Association, which is considered the biggest lobbying group on Wall Street.

McLean, Va.-based Freddie Mac, along with Washington-based Fannie Mae, is responsible for owning or guaranteeing approximately half of all U.S. mortgages. That totals out to nearly 31 million home loans valued at more than $5 trillion.

It’s easy: Participants simply fill out a form to enter the contest drawing – entry is free of charge. Completed entry forms will be submitted into the contest drawing and the participant information will be sent to you. Stewart & Soss is committed to rewarding three $2K checks to respective winners, totaling $6K in prize money.

The contest benefits your clients – and you! You’ll offer engaging content that draws website visitors in, providing soft and warm leads and creating an additional level of engagement for offering value for contact information. Participation is valued at $1,500 per month – however, we are providing this as a complimentary service to our industry partners. Contact us today for more information!

Who doesn’t love spring? It’s a time of rebirth and growth, a season of eye-catching blossoms and blooms, a moment to throw off the jacket and bask in the sun. While you’re celebrating the season, though, keep in mind that spring also means taking specific steps to make sure your home enjoys this time just as much as you do.

Here are a few suggestions for keeping your home in tip-top shape during springtime:

• Check your roof. Loose or leaky gutters can lead to water damage, while loose or missing shingles can compromise your roof’s structure. If you’re not feeling nimble enough to climb up on the roof yourself, hire a professional and save yourself a broken bone or two.
• Shore up any winter-damaged fences. Rotting posts should be replaced, and you should ensure that all posts are still solidly in the ground since rain and snow can loosen them.
• Have your air-conditioning system inspected, cleaned and serviced. Doing this will ensure that the system runs at peak performance.
• Clean up yard debris. Got dead plant material littering your yard? Get it out of there – it can become a fire hazard during the drier months. Also, make sure your landscaping isn’t damaged – that is particularly important when it comes to trees, which can crack and/or lean.
• Make sure smoke detectors are in working order. Batteries should be working, covers cleaned, and detectors ready to go in case of fire. It’s best to be prepared, right?

At Stewart and Soss, we encourage our team to do the same. We think of Earth Day as a great opportunity to renew our commitment to the earth, and come together to think of new ways that we can make an even bigger difference in helping our planet.

At home, the possibilities are endless – literally.  We took a few minutes to calculate our individual carbon footprints, and were shocked at the potential areas for improvement.  While we were familiar with ideas like using more efficient light bulbs (incandescent) and turning off the electricity at night to save power, it is easy to take it a step or two further.  Some of our favorite ideas include:

• Investing in solar chargers for your electronics. The newest in solar technology has brought prices down, making it easy to make the switch.
• Slow Down!  Did you know that driving more slowly translates into using less gas?  It’s great for the earth!  And with rising gas costs, it’s great for your pocketbook too.
• Never leave home without your cloth recycle bag. Get them out of your garage or trunk, and get used to having them with you on shopping trips (stop paying for paper bags).
• Wear your PJ’s twice before throwing them in the wash and cut your water consumption by half (use discretion)!

Slow Down!  Did you know that driving more slowly translates into using less gas?  It’s great for the earth!  And with rising gas costs, it’s great for your pocketbook too.Never leave home without your cloth recycle bag.  Get them out of your garage or trunk, and get used to having them with you on shopping trips.Invest in solar chargers for your electronics.  The newest in solar technology has brought prices down, making it easy to make the switch. At work, many of the same ideas can be utilized.  Many times, the waste in the workplace far surpasses what we are using at home.  Don’t wait until Earth Day to start turning off the lights.  No one in the boardroom?  Turn the lights off.  The same goes for any infrequently used space.  Expand your recycling by adding a cartridge container next to your paper, glass and plastic recycling containers.  Did you know that laser and inkjet cartridges can be refilled and manufactured several times?  Other small ideas you can do on your own include:

• Use your laptop instead of your desktop.  Only 50% of the energy is required to do the same work with this simple step.
• Don’t use office paper products!  Bring in your drink container and set of cutlery instead of using disposable items.
• Utilize technology to maximize your meeting time.  Teleconferencing and webinars save on traffic and commute time, so productivity is also increased.

If you are really feeling motivated this year as Earth Day approaches, we encourage you to expand on these ideas with your fellow neighbors, possibly for a group activity such as Community Clean-Up Day.  With a few flyers and knocking on some doors, we bet that people will be more than willing to come together to do their part – and have a little fun in the meantime.  In the spirit of community, we invite you to post some of your best Earth-Day ideas, and thank you in advance for doing your part to save our earth!

In case you’ve been living under a rock and didn’t read the headlines, the Federal Housing Authority is upping its fees for FHA-insured single-family mortgages; as such potential homeowners may find it harder to qualify for loans. However, not all loans will be affected by this change, making it even more crucial to stay abreast of these changes.

To help folks understand the looming fee changes, we created a fact-sheet that is useful for understanding the specifics of the upcoming increases, and equally valuable to help articulate this information to your clients, friends, family members and colleagues. We aim to provide our professional partners with information that can benefit both them and their clients, so be on the lookout for future Factsheets, Info-graphs and Intelligent Tools to help reinforce your value to prospects and clients alike. To contribute a factsheet, blog, or article idea, click here.

NAR: Homeowner Tenure on the Rise
There’s no place like home – and nowadays, Americans are keeping theirs for longer. According to the National Association of Realtors, in 2011 the typical seller put their home on the market after owning it for 9 years. That’s an increase from 2009, which saw a median of 7 years, and that in turn was a jump from 2001 to 2008, when the median was 6 years.

In 2011, sellers said they were selling for a number of reasons, including their home being too small and job relocation. Fear of foreclosure is also a factor in sales – in 2006, only 1 percent of sellers were moving to possibly avoid losing their home. In 2011 that number was up to 8 percent.

More long-term homeownership is also on the rise. Sellers who had owned their home for 11 to 15 years jumped from a low of 10 percent in 2006 to 18 percent in 2011.

Primedia president and chief executive officer Charles Stubbs said at the time of the acquisition that together the two companies will be able to deliver a broader range of products and services to clients while more rapidly expanding markets and market segments.

Primedia aims to help users find apartments, houses for rent or new houses for sale. Founded in 2000, Rent.com was purchased by eBay in February 2005. The transaction is expected to close during the second quarter of 2012.

Google has tools for just about anything: maps, videos, even a translator. It should be no surprise, then, that the search-engine giant has up its sleeve an arsenal of resources for real estate professionals seeking to connect with clients.

One of the most well-known of these tools is Google AdWords, which offers cost-per-click keyword advertising to promote lead generation. Users determine their own costs, get a real-time return on investment and can either modify or end their campaign whenever they choose.

Real estate professionals can also submit their listings to Google, which in turn makes it easier for interested clients to access the information and get in contact. The Google Maps API tool also lets users place interactive maps on their own websites, allowing clients to find prospective properties with a few clicks. And Google SketchUp simplifies the process of creating, presenting and modifying three-dimensional models, which can open the door to exploring a home and its surroundings in 3-D.

There are a host of other Google offerings, so check out the site for yourself to enhance your client offerings.

Regardless of whether you have children, safety is probably the most important factor for individuals and families alike. Look up stats, and then confirm the data by talking to your potential neighbors and others who are familiar with the neighborhood dynamics and reputation.

For those of us with or planning to have children, schools and the quality of education in the local school district is another key consideration. Again, look up test scores and performance data to get an idea of the academic rigor of neighborhood schools. Then, take the time to pay the school a visit to learn more about their teaching philosophy and extra-curricular activities, and get a general feeling of the building. Look at the kids, as well as the teachers, to get a clear idea of the school environment.

Anyone living in the Bay Area has to take traffic and commute time into consideration. The perfect neighborhood might be hours (in rush hour) away from your house, so your quality of life will be impacted. While not an option for everyone, find out about options for using public transportation that might take the stress out of a daily commute.

While the majority of our communities are located in a suburban or urban setting, never assume that the specific amenities that are most important to you are nearby. To have an idea of the lay of the land, find out where the nearest grocery store is located, how long it takes to get to the nearest emergency room and where your local bank is.

Finally, look forward to the future and investigate future planning developments for your neighborhood-to-be. Local council websites are the best place to start, and will help you to have a good idea about how city plans may positively or negatively impact your property value.

Finding out more about your new neighborhood and neighbors can be one the most enjoyable steps in the buying-a-new-house process. We hope that our ideas here provide you with a good foundation for doing your research, and we encourage you to ask lots of questions and leave no stone unturned as you consider the next place you’ll be calling home. Happy House Hunting!

“Pin” Down Your Market
Pinterest is one of the hottest social media sites of the past year, which begs the question: how is it relevant to the real estate industry? Pinterest allows users to post links and photos that are grouped by category (referred to as “pins” or “boards”). Users then invite others to see, follow, comment on and share their collections.

The Pinterest possibilities for professionals in the real estate industry are many. Why not post a “decorating” board that highlights some of the best features of the homes that you’re currently listing? Or consider a “my first home” board with photos of your happy clients in front of their first homes. The potential is limited only by your imagination. To discover Pinterest for yourself, visit pinterest.com and request an invitation.

We believe it’s important to get the word out especially to those of you who are currently in the process of applying for an FHA loan or would like to apply for one.  You may want to make sure to get that paperwork moving along to avoid the increase in premiums that will become effective beginning in April and in June of 2012.

That’s when the Federal Housing Administration will increase its annual mortgage insurance premium (MIP) by 0.10 percent for loans under $625,000 and by 0.35 percent for loans above that amount. In addition, upfront premiums (UFMIP) will also increase by 75 basis points.

In a press release, HUDNo. 12-037, Acting FHA Commissioner Carol Galante said, “We have determined that it is appropriate to increase mortgage insurance premiums in order to help protect our capital reserves and to continue encouraging the return of private capital to the housing market.”

What it really means is that the FHA needs to build up the coffers to provide ongoing stability and bolster its capital reserves. Some industry analysts are saying it could have a negative affect on housing, but others believe the FHA loan program will remain popular in spite of the increased fees since it is the only choice for many borrowers who can’t qualify for a conventional loan.

How will the fee increase affect the first time homebuyer?  We think it requires some number crunching to determine whether it might be prudent to take advantage of a conventional or other loan option instead.

For example, if a borrower were to purchase a home for $500k, the increased upfront mortgage premium would be about $3,618. Combining the upfront and annual premium increases would result in a higher monthly payment of about $63 as compared to a payment based on current premiums, according to calculations by Andrew Soss, Founder and Branch Director of Stewart & Soss Mortgage.

The new fees will apply only to 30-year, single-family FHA loans and will not apply to FHA-insured mortgages and Home Equity Conversion Mortgages (HECM).

The home buying and loan financing process can be a confusing maze of numbers and acronyms, so it’s really important to understand the latest rules and regulations as well as all the financing options available.   Setting up a consultation with a professional mortgage lender is one of the best ways to make sure you are on the right path to home ownership.

If you would like more information about the new FHA fee increases or have other questions, please feel free to call us at 408.295.2355.

When we at Stewart & Soss Mortgage decided to build our business in the Bay Area, we did so because this is where we wanted to settle with our own families, and nothing less was suitable for our clients.  Now, six years later, we maintain this belief.  At a time when our communities continue to face numerous financial challenges and state budget cuts, we’ve been inspired to identify initiatives that allow us to express our commitment to the communities we serve throughout the Bay Area. 

A perfect example of one of these initiatives is our partnership with HeadsUp, an organization in San Rafael. Since 1982, HeadsUp has supported San Rafael public schools by uniting parents, school administrators, business people and community members. As we approached the end of 2011, Chad Geyer, a Mortgage Advisor in our Marin office, inspired us with a fundraising idea that would support HeadsUp in its mission and allow us to work with our clients to raise money. Like so many of us that our concerned with our state’s educational funding, Chad and his family were called to action as they learned about the efforts of HeadsUp. That’s why we’ve teamed up with Chad to offer a referral program that generates a $400 donation for each home loan funded in the San Rafael School District.

At the heart of every community are its schools, and San Rafael was especially hit hard by California education budget cuts.  We were touched by the collaborative efforts of HeadsUp and its specific plan for improving the quality of education for San Rafael students. This year alone, the money raised by donations will help save 4^th and 5^th-Grade Music Programs, K-8 Libraries, K-5 Counseling, High School Counseling and 5^th-Grade Outdoor Education—all critical areas that ensure our Bay Area children have equal educational opportunities.

Promoting HeadsUp was an easy decision, as we fully share and support their mission. In addition, we were able to champion the efforts of one of our team members in the process. We take our work seriously; if we are going to encourage you to invest in a community, we want to put our money where our mouth is!

This year, our work has just begun. HeadsUp is just one example of the Stewart & Soss commitment to the Bay Area communities we serve.  To learn more about how you can join us in this initiative and other work we are doing in the community, please visit our Community page. ]]> http://stewartsoss.com/pages/?feed=rss2&p=28 0 http://stewartsoss.com/pages/?p=25 http://stewartsoss.com/pages/?p=25#comments Mon, 12 Dec 2011 20:14:05 +0000 admin http://stewartsoss.aspirethinktank.com/pages/?p=25 The holiday season is one of the most anticipated times of the year. Unfortunately, criminals look forward to the season too as people are more likely to be out shopping and leaving their homes unattended while travelling during the holidays. Here are some home safety tips to protect your home, your family and your belongings this holiday season.

Trim shrubbery and trees close to your home. Overgrown landscaping provides the perfect cover for a burglar working to pry open a window.

Remove garage door openers from cars parked in the driveway. It’s a smart idea to leave a second car parked in the driveway, but be sure to remove the garage door opener. Burglars can easily bust out a window and open your garage with the click of a button.

Lock garage entry doors. If you live in a home with an attached garage, lock the door from the garage to the home when leaving. Garage doors have been known to be manually forced up, allowing access to your home.

Don’t leave remnants of Christmas morning by the curb. Large appliance boxes and containers are a sure sign Santa was really good to your house. But they’re also a sign to thieves that you just got a new plasma TV for Christmas. Break down boxes and put them in cans or black garbage bags to conceal the products that were inside.

If travelling, make your house look lived in. Think about investing in some inexpensive timers for lights and radios and have them come on at times when you’re typically home. We even suggest staggering the timers so that living room lights come on and off early in the evening and bedroom lights come on later at night. 

Ask a friend or neighbor to pick up your mail. Also ask them to bring in your newspaper and garbage cans while they’re at it. While you can have your mail and paper delivery held, doing so may be just another tip off that you’re away. Don’t forget your friend/neighbor’s act of kindness when bringing back souvenirs.

Don’t broadcast your plans. You may be excited that you’re taking your family on a holiday cruise, but don’t brag too much. You never know who might be taking note of your travel plans. And don’t mention your trip on social networking sites like Twitter or Facebook until you’ve returned.

Silence the ringer on your home telephone while you’re away. One trick of the trade for criminals is to stake out a house and call the phone number. If the phone rings and rings with no answer, it is a safe bet no one is home. If the phone doesn’t ring at all, crooks may suspect they are dialing the wrong number or that someone is home and using the phone. Of course, don’t mention your travel plans on voicemail or answering machine.

By the way, if you’re in the market for a new place, we’re always here to help with your home financing. Have fun with the map!