Everyone has an opinion

There is a lot of knowledge that homebuyers are placing upon themselves as an expectation about what they should know about mortgaging and buying a home. The truth is that in current times the proliferation of information, some correct and some not so correct, makes buying a home complex at the very least. It can be difficult to tell what is factual information and what is someone’s opinion. Everyone seems to have a platform these days to put information out for the general public. This is a good reason to give yourself a break! Then, make a decision about what your source of the truth will be.

I like to say that disappointment can be defined as expectation meeting reality. The way to keep yourself from disappointment is be grounded in a plan based upon solid and correct information. A plan starts by having a trusted advisor. The next step is to be truthful about your financial concerns and the reality of one’s finances with that advisor. You should know that technology now allows advisors to assist without forcing you to come to an office.

Advisors like me are constantly sorting through trending information. Why is trending information important? Everyone wants to see the value of their home increase. Most people want to keep insurance and taxes in check on their property. These are local issues; however, sometimes the more global issues have an impact. These issues can also impact the lender as the lender wants to be certain that it is appropriately funding a mortgage.

Years ago, I knew a homebuyer who shared his opinion with me that the recession was going to go around the Pacific Northwest area. Of course, it didn’t go around us. Today, advisors are monitoring Chinese investments in housing and if there is a correlation to rising housing costs. We are also watching as sellers expect that their homes will sell with multiple offers, yet offers are slowing. Similarly, we are watching the mortgaging of apartment complexes.  Dodd-Frank verifications did not apply to apartment buildings. What’s your opinion? Email me at MPattullo@PeakMtg.com

We lend where we live,

Michael Pattullo
Peak Mortgage
Mortgage Advisor • MLO# 229675 • Peakmtgnw.com
360-607-9312