Luxury Real Estate

By Jim Walberg of Caribbean Islands Realty

We currently have the lowest mortgage rates in recorded U.S. history. Is it time for Buyers to take action? YES! Jim Walberg’s conversation with Michael Tacconi.

Two days ago I sat down with one of the key loan officers in the East Bay, Michael Taconni, and had a discussion about what is happening with interest rates in 2009 and when should Buyers take action. It was a very interesting discussion. Here were three of the questions I presented to Michael to address.

When should home Buyers consider buying a home in 2009? Michael’s immediate answer was NOW! He said that Buyers have never had better home mortgage rates (YouTube) to chose from than right now - April 2009! Never in all the years of recording mortgage interest rates have they been so low. The mortgage options available are all in this same category - from five year and seven year adjustable rate mortgages, to 30 year fixed mortgages. He told me that the huge amount of activity of home purchases and refinancing that has hit his firm in the last few weeks has been like a “sumami”.

Will mortgage interest come down further in 2009? Michael’s take on this question was an emphatic NO! He let me know that the Fed rate is between ZERO and .25% (YouTube). He said that there is no further room for it to go down further. Again, the mortgage interest rates have never been as low as today in U.S. history!!! So I followed it up with the next logical question…

Will mortgage rates go up in 2009 and when? He was just as emphatic with his answer to this question - YES, and soon! He gave me some indicators that Buyers need to pay attention to (YouTube). The first one was watching the stock market and see if the March 2009 rally was actually going to be sustainable. If it continues to rally, those that are currently invested heavily in bonds will start moving back into the stocks. He referred to a blog that Elizabeth Weintraub posted late last year titled, Top 10 Real Estate Predictions For 2009. Here were her predictions for mortgage rates.

“Because mortgage rates are influenced by mortgage bonds and mortgage-backed securities, not fed rate cuts, I predict interest rates could rise to 7% in 2009. Maybe more if investors continue to worry about inflation and the government adds a new supply of U.S. Treasuries to the market to offset the looming deficit.”

Michael believes that these record low mortgage rates may not last longer than a month or six weeks at the most. The Federal stimulus package is starting to be felt in a very positive manner throughout the economy. As the consumer confidence begins to change direction, the stock market will continue it’s climb and rates will certainly go up. He even felt it will be a dramatic interest rate climb that will leave many Buyers in the dust who are waiting for a better time to buy. TODAY is the day to contact your mortgage professional, and your Realtor if you want to purchase a home in 2009. Contact me today if you would like to talk about you needs further.

By Yvonne Harvey

LuxuryRealEstate.com is pleased to announce a key contributor and speaker at the 13th Annual Fall Conference on October 11-14, 2008 in Philadelphia – Niurka. Her name might not sound familiar, but her clients certainly are: Mercedes-Benz, Century 21, Coldwell Banker, Keller Williams, World Financial Group and many others. She has also received the prestigious Wall Street Journal Award for her excellence in Business and Finance.

Since 1994, Niurka has devoted herself to mastering effective communication and influence for the purpose of producing immediate and lasting results. She is a highly sought-after keynote speaker, consultant and peak-performance coach. As an entrepreneur, Niurka founded Niurka, Inc. in 1999 to serve the growing demand for customized training, consulting and results coaching solutions.

When Niurka speaks, her audiences are inspired, empowered and entertained. Her style combines step-by-step tactical teachings with humor and vivid storytelling. Her energy and warmth will intimately engage each conference attendee. Participants will not merely observe and listen; they will enthusiastically participate and be driven to action. To view a YouTube video from Mercedes-Benz describing their positive results from working with Niurka, click here. For more information on Niurka, visit her Web site: www.niurkainc.com.

We invite you to join us at the Fall Conference to enjoy Niurka’s contributions, as well as many other breakout groups and top industry panels. Reserve your spot today for the conference.


Editor’s Note:
Yvonne Harvey is the Events Coordinator for LuxuryRealEstate.com. So when you come and enjoy the wonderful presentations, discussions and networking opportunities at Luxury Real Estate conferences, you know who to thank. Niurka sounds like an awesome person, and I’m looking forward to hearing her inspiring words at the Luxury Real Estate Fall Conference in Philadelphia this October. Yvonne has done a great job keeping us posted on this conference. We hope to see you there!

By Scott Rudolph

Sometimes it is just a simple message that sparks a wildfire.

Watch the video. Share the video. Catch the message. Make it happen. http://www.youtube.com/watch?v=hOrKLs0QJkA

For sellers, I want to say: birds find new nests and so shall you. Your trusted real estate professional is key to helping you find another home which you’re bound to grow to love as much as what your leaving.


Editor’s Note:
Scott Rudolph is the Director of Business Development for LuxuryRealEstate.com. He works with a variety of luxury-focused companies to expand the LuxuryRealEstate.com influence. The video in this blog entry was made by RealEstateZebra. After watching this humorous video, I feel like holding up a piece of paper that simply says, “Amen.” Changing market conditions demand flexibility and sometimes drastic measures like reducing the price on your home. For better or worse, it’s a buyer’s market right now.

By Joey Pauley

Photos are great. Virtual tours are excellent. But video takes the cake.

More and more people have been adding videos to their website. I think this is an excellent direction for our industry. Many of our members, including Pat Choi have had welcome videos on their website. John Brian Losh even has his own section of videos on YouTube. As Michael mentioned in a previous post, Luxury Real Estate TV is now a video podcast. Download it here.

If you would like to create a video for you site, commercials, or for that special home, contact me or our partner, Realty Video. Let’s keep this trend going strong. If you need help in distributing the videos, give us a call. We are here to help.


Editor’s Note:
As a Technical Account Manager with LuxuryRealEstate.com, Joey Pauley helps members with their Web and technology needs. Video is definitely a great tool for brokers and agents to use in their Web sites. I highly recommend following Joey’s advice.