Tag Archives: Housing

LISTEN LIVE NOW! Presented by Mortgage Investors Group

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Retro-Microphone

Kevin Rhea – Host

Since starting my career with Mortgage Investors Group I have become a husband and a father. My beautiful wife Pam and I have a daughter, Olivia, and a son Patrick. I started my career with MIG as a Loan Officer Assistant in 2001 and became a Loan Officer beginning in 2003. I excelled in my first year, closing more loans in Tennessee than any other rookie. My accomplishments as a rookie have been recognized by the Knoxville Mortgage Bankers Association (KMBA), and Mortgage Originator Magazine. In 2011, I was promoted into management at MIG as Vice President, Director of Business Development. This is a very exciting move for me and I have hit the ground running. We have developed a new social media strategy, a new radio campaign and many other very exciting things!

My faith and my family are the most important things in my life.

Kevin as a child:

“…for the last time, I don’t know if mortgages rates had gone up! Now, may I continue?”
Email: Kevin@KevinRhea.com | Web : www.KevinRhea.com

Kevin is available to talk to your organization , club or your child’s birthday party.

Mark Griffith- Co-Host:

Mark has been a part of the Mortgage Investors Group management team for over 18 years. He opened the Oak Ridge office for MIG in 1994 and has assembled one of the most productive sales and support teams in the business. The Oak Ridge office has produced, on the average, over 80 million dollars of loans per year for the last 15 years. Two of his Loan officers have earned repeated Top Producer Awards recognitions in the Knoxville and surrounding markets as well as Top National Honors. The Oak Ridge office has been #1 Lender in Anderson County for several years.
Mark got into the Real Estate business in 1983 and became a Mortgage Loan Officer in 1985. From interest rates in the teens to the market collapse of 2008, Mark has experienced a wide range of market and guideline fluctuations that make him one of the top managers in his field.

Mark gladly joined The Housing Hour, as C0-Host, in December of 2011; his main role is programming/website content/scheduling and community service initiative.

You can reach Mark with your questions at: Mark.Griffith@migonline.com
Mark is available to talk to your organization or club.
Facebook: The Housing Hour

Spring into Action and Prepare

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Mortgage Investors GroupWhen preparing to buy a home there are many things to consider.  Most of the time, compiling documentation for your lender is not at the top of the list.  This could be a very important step to the overall success of your home-buying experience.

Please read on.

If you haven’t done so already – please begin compiling documentation we’re going to need once you’ve found your dream home. For a specific list of what we will contact one of our loan officers today!

Partial List of Starter Documents:

  • Copies of last two years tax returns and W-2′s
  • Copies of two most recent paycheck stubs (or easy, quick access to future pay stubs)
  • Copies of bank and brokerage statements for the last two months

Why Bother Digging Up Documents Now – I Haven’t Even Found My Home Yet?
Because, in the mortgage business Time Equals Money. I’ll explain what I mean below.

What Does It Mean To “Lock” Your Loan?

When it’s officially “go time”, you are going to “lock” your loan program with the lender. In turn, the lender is setting aside the funds allocated to your home mortgage. Lenders take these “loan locks” very seriously – as it helps us manage supply and demand.

Generally speaking – the shorter a time period you lock up a lender’s funds, the more preferential the pricing that lender will offer in return. This is huge.

What Do I Mean By the Statement Above?
Typically lenders offer “lock periods” of 30, 60 or sometimes even 90 days. By locking your loan, you benefit from knowing that if mortgage rates rise in the future, your terms will remain unchanged by the lender. As a result of this commitment the lender makes to you, they provide financial incentive for you to choose a shorter lock period than a long lock period. Does this make sense so far? If you are interested in learning more about how Time Equals Money in the mortgage business, contact us today!

So, Is My Ultimate Point In All This?

It is difficult to know if it is going to be prudent to choose a short, medium or long “lock period”. However, if we ultimately determine that a short lock period is best for your situation – it will be critical that we don’t lose even a single day while the clock is running.

By getting your mortgage ducks in a row now, we will be in optimal shape for a smooth and cost-saving mortgage process later.

While some lenders take 60-90 to close your loan, MIG will get it done on your schedule and close on time, every time.

Housing to Drive Economic Growth (Finally!)

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Economists expect the housing market to be the primary driver of growth this year.

The bursting of the housing bubble plunged the economy into a recession from which it has yet to fully recover. But economists say this could finally be the year that housing lifts us out of the doldrums.

Just over half of economists surveyed by CNNMoney identified a housing recovery as the primary driver of economic growth this year. The rest were split fairly evenly between consumer spending, increased domestic energy production and stimulus from the Federal Reserve as major growth drivers.

“Homebuilding activity will likely remain the strongest growing component of the economy in 2013,” said Keith Hembre, chief economist of Nuveen Asset Management. “After several years of excess supply, demand and supply conditions are now in much better balance.”

Home sales rebounded to the strongest level in five years in 2012, as home building bounced back to levels not seen since early in the recession. Near record low mortgage rates, rising home prices and a drop in foreclosures have combined to bring buyers back to the market.

The economists surveyed also forecast that there will be just under 1 million housing starts this year — roughly matching the 28% rise in home building in 2012. Moody’s Analytics is forecasting much stronger growth — a 50% rise both this year and next year, which it estimates will create more than 1 million new jobs.

“There’s a lot of pent-up demand for housing, and very little supply,” said Celia Chen, housing economist for Moody’s Analytics. “As demand continues to improve, home builders have nothing to sell. They’ll have to build.” She said that growth in building will mean adding not just construction jobs, but also manufacturing jobs building the appliances and furniture needed in the new homes, which in turn drives overall consumption higher.

And economists say the tight supply and renewed demand for housing should lead to higher home values — about a 3.7% increase according to the survey.

“One of the most significant indirect effects from the housing recovery is the ‘wealth effect’ on consumers due to the recovery in home prices,” said Joseph LaVorgna, chief U.S. economist of Deutsche Bank, who said better home values can affect both consumer psychology on spending as well as their actual finances.

“Even small moves in home prices can have large effects on consumption, because housing comprises such a significant share of household assets,” he said.

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2012 Home Sales: Best in 5 years!

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Steady December home sales capped the best year for the U.S. real estate market in five years, according to an industry trade group report Tuesday.

The National Association of Realtors said that December sales of previously-owned homes came in just slightly below November’s sales pace, but up 12.8% from a year ago. That brought full-year sales to 4.65 million, up 9% from 2011 and the best year for home sales since 2007, when there were 5 million homes sold just before the housing bubble burst.

Sales are being helped by a combination of strong market fundamentals — near record low mortgage rates, lower unemployment and a rebound in home prices, all of which are bringing in buyers into the market who had been waiting for it to hit bottom. The mortgage rates and years of depressed home prices have also combined to create the most affordable housing market on record, according to the Realtors group.

And the Realtors are predicting strong sales should continue into 2013 and beyond. It has a forecast for 5.1 million existing home sales this year, and 5.4 million next year.

The improved demand for homes in December led to the inventory of homes for sale to fall to 1.82 million homes on the market, the lowest supply since January 2001. One factor in tightening supplies is a drop in foreclosures and other distressed home sales, which made up only 24% of home sales in December compared to 32% a year ago. The tighter supply, and the drop in distressed sales, have helped to lift home prices so that the median sales price for the year rose to $176,600, up 6.3% from 2011. That’s the biggest gain in prices in since the bubble year of 2005.

he rebound in the market for previously-owned homes is also showing up in the market for new homes, where sales rebounded to their highest levels since 2009, while housing starts reached the highest level since 2008.

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Mal-Man: Java Breach – Protect Your Family!

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Mal-Man: Protect Your Family!

The Housing Hour’s  Expert: Kevin Thomas of Knoxville Technology Services can help you with your security concerns. Also – join us next week when we talk with Kevin Thomas for the full hour as to how to Protect Your Family!

New malware exploiting Java 7 in Windows, Unix systems

A new Trojan horse called Mal/JavaJar-B has been found that exploits a vulnerability in Oracle’s Java 7 and affects even the latest version of the runtime (7u10).

The exploit has been described by Sophos as a zero-day attack since it has been found being actively used in malware before developers have had a chance to investigate and patch it. The exploit is currently under review at the National Vulnerability Database and has been given an ID number CVE-2013-0422, where it is still described as relatively unknown:

“Unspecified vulnerability in Oracle Java 7 Update 10 and earlier allows remote attackers to execute arbitrary code via unknown vectors, possibly related to “permissions of certain Java classes,” as exploited in the wild in January 2013, and as demonstrated by Blackhole and Nuclear Pack.”

The malware has currently been seen attacking Windows, Linux and Unix systems, and while so far has not focused on OS X, may be able to do so given OS X is largely similar to Unix and Java is cross-platform. Additionally, the exploit is currently being distributed in the competing exploit kits “Blackhole” and “NuclearPack,” making it far more convenient to criminal malware developers to use.

Even though the exploit has not been seen in OS X, Apple has taken steps to block it by issuing an update to its built-in XProtect system to block the current version of the Java 7 runtime and require users install an as of yet unreleased version of the Java runtime (release b19). Additionally, the U.S. Department of Defense has issued an advisory to disable Java on systems that have it installed.

Luckily with the latest versions of Java, users who need to keep it active can change a couple of settings to help secure their systems. Go to the Java Control Panel that is installed along with the runtime, and in the Security section uncheck the option to “Enable Java content in the browser,” which will disable the browser plug-in. This will prevent the inadvertent execution of exploits that may be stumbled upon when browsing the Web, and is a recommended setting for most people to do. If you need to see a Java applet on the Web, then you can always temporarily re-enable the plug-in.

The second setting is to increase the security level of the Java runtime, which can also be done in the same Security section of the Java Control Panel. The default security level is Medium, but you can increase this to High or Very High. At the High level, Java will prompt you for approval before running any unsigned Java code, and at the Very High level all Java code will require such approval, regardless of whether or not it is signed.

Since this threat is Java-based, it will only affect systems that have Java installed. Most platforms do not come with Java, but if you have installed it and do not need or regularly use it, you might consider removing it from your system. While Java is convenient for legitimate developers, its conveniences also help malware developers spread their harmful practices to multiple platforms.

Sarah and Lewis Burton: East Tennessee Kidney Foundation

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Prayers Needed!

The Housing Hour had the extreme honor of interviewing Sarah and Lewis Burton with East Tennessee Kidney Foundation back in August. Sarah serves as President of the Board  and her husband, Lewis, is a  renal patient. Lewis is presently suffering greatly with his affliction and they both need your prayers for this New Year!

The ETKF currently serves 10 counties and 118 low-income patients, all local East Tennesseans. One of the missions of the East Tennessee Kidney Foundation (ETKF) is to provide patient services and support to East Tennesseans affected by kidney disease. Our primary goal is patient services, specifically helping patients get to and from dialysis, which is necessary for their survival.

They operate solely on donations, monetary and in-kind, and the care and support of our amazing community. Without you, our organization would not be possible.

To contact at : Admin@ETKidney.org or Katie Bolt Caldwell, Executive Director

Donate Now!

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Merry Christmas!

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Air Date 12/15/12- Frauds and Scams

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FBI: Frauds and Scams

Marshall Stone: Supervisory Special Agent

The Housing Hour continues its series on ‘Protecting Your Family‘ with special guest- Marshall Stone, Supervisory Special Agent of the FBI. Marshall joins the conversation with explaining and identifying the most common internet frauds and scams and how you can protect your family!

Getting educated and taking a few basic steps may well keep you from becoming a victim of crime and fraud—and save you a great deal of time and trouble. You can also help us protect your families and communities by reporting suspicious activities and helping find wanted fugitives and missing kids.

Press Releases from FBI’s Marshall Stone:

A Great Website that is pack full of info and tips: FBI.gov

Video Files:

The Housing Hour – Aired 09/22/2012: Otis Pest Control

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Presented by:

Mortgage Investors Group LogoWe continue our series on Home Insect Management with our guest,  George Haynes of Otis Pest Control. For nearly 40 years, the Otis Pest Control team has been providing the highest level of pest control service to Knoxville and the surrounding area. They’ve built their reputation around one thing: doing the job right the first time.

Their staff of certified professional technicians are experts in pest control, and the company is built on the superior customer service they provide our clients.

Locally-owned and operated, but spanning an area including more than 20 East Tennessee counties, Otis Pest Control is uniquely positioned to offer the service and smile of a local business with the top-notch professional service you expect.

There’s no risk to receive a free termite and pest control inspection.

Join us for a fascinating look at household pests and the diseases they can cause.

Our last segment, Kevin and Mark talk about QE3 and its historic and future impact on rates, housing and jobs.

The Housing Hour – Aired 09-15-2012: The Cutting Edge

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Presented by:

Mortgage Investors Group LogoIts that time of year….yes, that’s right…time to take care of that heat beaten yard! Victor Phillips of ‘The Cutting Edge’ Lawn Care service will be our guest today to tell us everything you need to know about fall lawn maintenance. From Fertilization to seed and mulch, The Cutting Edge crew will discuss the dos and don’ts of proper yard preparation for winter!

The Cutting Edge…

FREE ESTIMATES
Just Call
865-686-2276

3215 Saddle Path Lane, Knoxville, TN 37931, United States

Our last segement we have Holly Kizer from Big Brother/Big Sisters.

Changing perspectives. Changing lives.

For more than 100 years, Big Brothers Big Sisters has operated under the belief that inherent in every child is the ability to succeed and thrive in life. As the nation’s largest donor and volunteer supported mentoring network, Big Brothers Big Sisters makes meaningful, monitored matches between adult volunteers (“Bigs”) and children (“Littles”), ages 6 through 18, in communities across the country. They develop positive relationships that have a direct and lasting effect on the lives of young people.

Join us for an inspiring show as Kevin shares his involvement with this wonderful organization!

Be apart of something Big…Big Brothers Big Sisters!

Also..get involved with their next fun event: