Thursday, June 25, 2009
Tuesday, June 2, 2009
TRUMP IS FOR SALE…. RESALES ARE A BARGAIN…THE TIME TO BUY IS NOW…..
I have personally sold over $40m in real estate at Trump and just recently purchased an in-town for myself. There are terrific under-market deals right now as some early buyers are unable to close and are willing to let their preferred first-buyer interests go at a loss to them. This resale opportunity at up to 40% off current Developer Prices will only last until the current sales close out or revert to the Developer. WE expect this window of opportunity to last only through July or perhaps August.The building has terrific views, a 23,000 sf spa, hotel services, concierge, private owned parking, and a walking location to the Theatre District, Michigan Avenue, and dozens of restaurants. The newly enhanced river walk also adds to the appeal. But, mostly, this is one new building which actually did get built and has changed Chicago’s skyline.
Monday, June 1, 2009
MORTGAGES: WHAT IS UP??
This report by Chris Covalle is a terrific summary of the volatility of the mortgage rates this past week. Still a great deal, but watch carefully for the right time to sign up! Tricia
Hi everyone,
I just wanted to get a quick note out regarding the extreme rate volatility which has occurred from last Wednesday thru today. Last Wednesday marked the single worst day in mortgage pricing since last October. Rates have tried to drive lower a little since then, but overall have continued to increase. Here is the basic message clients should be hearing:
1) Mortgage Pricing is tied to a bond instrument which is traded daily, just like stocks are and thus can change pricing every day, and oftentimes, more than once in the same day.
2) Rates remained low for a long period of time as investors preferred the returns on these longer maturity instruments more than the returns they could realize elsewhere-stock market, etc. Thus the government did not need to offer a particularly high yield (return) on these bonds, thus keeping the prices up due to the high demand for them.
3) Now, however, to try and continue financing all of the current government initiatives, the government has flooded the market w/ a large supply of these long term instruments. Unfortunately for mortgage rates, investors currently have more confidence in the stock market and other investment areas to deliver a higher rate of return on their investments. As a consequence, we have seen prices on the instruments tied to mortgage pricing fall as the government attempts to offer a higher yield (return) in an effort to drive more demand.
The key in the next couple of days will be how much demand bounces back and stabilizes mortgage pricing.
Please advise if anyone has any other questions on how to relay this info to clients. Here is where we are right now:
Hi everyone,
I just wanted to get a quick note out regarding the extreme rate volatility which has occurred from last Wednesday thru today. Last Wednesday marked the single worst day in mortgage pricing since last October. Rates have tried to drive lower a little since then, but overall have continued to increase. Here is the basic message clients should be hearing:
1) Mortgage Pricing is tied to a bond instrument which is traded daily, just like stocks are and thus can change pricing every day, and oftentimes, more than once in the same day.
2) Rates remained low for a long period of time as investors preferred the returns on these longer maturity instruments more than the returns they could realize elsewhere-stock market, etc. Thus the government did not need to offer a particularly high yield (return) on these bonds, thus keeping the prices up due to the high demand for them.
3) Now, however, to try and continue financing all of the current government initiatives, the government has flooded the market w/ a large supply of these long term instruments. Unfortunately for mortgage rates, investors currently have more confidence in the stock market and other investment areas to deliver a higher rate of return on their investments. As a consequence, we have seen prices on the instruments tied to mortgage pricing fall as the government attempts to offer a higher yield (return) in an effort to drive more demand.
The key in the next couple of days will be how much demand bounces back and stabilizes mortgage pricing.
Please advise if anyone has any other questions on how to relay this info to clients. Here is where we are right now:
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