Last Week in the News
Existing home sales rose 9.4% in September to a seasonally adjusted annual rate of 5.57 million units from 5.1 million units in August. The increase was largely due to the tax incentive for first-time homebuyers.
According to the ICSC-Goldman Sachs index, retail sales rose 0.2% in the week ending October 17. On a year-over-year basis, retailers saw sales increase by 2.8%, the best showing in a year.
The producer price index, which tracks wholesale prices, rose 0.6% in September, following a 1.7% increase in August. For the year, wholesale prices are down 4.8%.
The Commerce Department reported that the combined construction of new single-family homes and apartments in September increased 0.5% to a seasonally adjusted annual rate of 590,000 units. That was less than the 610,000 economists had expected.
Initial claims for unemployment benefits rose by 11,000 to 531,000 in the week ending October 17. The figure was higher than the 515,000 that economists had forecast. The number of people continuing to claim jobless benefits in the week ending October 10 fell by 98,000 to 5.92 million.
The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose 1% in September after a revised 0.4% gain in August. It was the sixth straight monthly increase and marks the largest six-month gain in 26 years.
The National Association of Home Builders / Wells Fargo housing market index fell one point in October to 18. The decrease reflects the soon-to-expire tax credit for first-time homebuyers that boosted home sales earlier this year. An index reading below 50 indicates negative sentiment about the housing market.
Upcoming on the economic calendar are reports on consumer confidence on October 27, new home sales on October 28 and gross domestic product on October 29.
Last Week in the News
The U.S. non-manufacturing sector grew for the first time since August 2008. The Institute for Supply Management reported the monthly index of non-manufacturing activity rose to 50.9 in September from 48.4 in August. A reading above 50 signals expansion. Big gains were made in new orders, up more than four points to 54.2; backlog of orders, up 10.5 points to 51.5; and productivity, up nearly four points to 55.1.
According to the ICSC-Goldman Sachs index, retail sales rose 0.3% in the week ending October 3. On a year-over-year basis, retailers saw sales increase by 1%, the second-best showing in a year.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications for the week ending October 2 rose 16.4% to 756.3, the highest level since May. Purchase volume rose 13.2% to 306.1. Refinancing applications increased 18.2% to 3,377.1.
According to the Federal Reserve, consumer credit debt fell for the seventh straight month in August by $12 billion, an annual rate of 5.8%. Economists had forecast consumer debt would drop $10 billion. Total consumer credit debt in August was $2.46 trillion.
Initial claims for unemployment benefits fell by 33,000 to 521,000 in the week ending October 3. The figure was lower than the 540,000 that economists had forecast. The number of people continuing to claim jobless benefits in the week ending September 26 fell by 72,000 to 6.04 million.
The Commerce Department said wholesalers reduced their inventories by 1.3% in August, following a revised 1.6% drop in July. It was the 12th straight monthly decline. Meanwhile, sales at the wholesale level rose 1% in August, the largest increase since June 2008.
Upcoming on the economic calendar are reports on retail sales on October 14 and consumer inflation on October 15.
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Home Buyers Marketing II, Inc. (HBM II). HBM II provides area homebuyers with an innovative and FREE home finding service called the Home Buyers Scouting Report®. The Home Buyers Scouting Report® matches your personal home search criteria with properties that are currently listed for sale and in your price range. Online...available 24 hours a day! At your convenience, login to HBM II's private, password-protected website to view the listings that meet your home search criteria with pictures, prices, addresses, directions, maps and more!* You can specify a particular school, lot size, almost any amenity you want and get just those listings that are in your price range. While online, you can save your favorite properties to a notebook for easy reference and to receive updated information on those properties. Can't find your favorite? You can change your personal search criteria to include additional neighborhoods and home styles. If you are interested in a specific property you have driven by, simply type in the address and view information about that property. With the Home Buyers Scouting Report® you can receive daily updates on new listings as they become available! Be the first buyer to see a new property. Many busy homebuyers have heard about a great property only to find that it had already been sold. There is no obligation. Using the Home Buyers Scouting Report® will allow you to get a real sense of the current housing market in the privacy of your own home. Whether you are looking to buy a new home soon or just thinking about new home possibilities, we believe this is the best home finding service available and as a preferred customer, we would like you to know about it. Click below for more information about receiving this FREE home finding service:
We look forward to hearing from you.
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*In some markets not all of the listings are available because of local rules and regulations. Address, mapping & other property information restrictions apply in some markets.
The Real Estate Agent and Home Buyers Marketing II, Inc. (HBM II) are cooperating licensed real estate professionals. The Real Estate Agent is neither an agent nor a broker for HBM II, but works cooperatively with HBM II to assist in your home scouting efforts.
The Preferred Loan Officer's role is to assist in determining a comfortable monthly payment and price range for Home Buyers Marketing II, Inc. (HBM II) to use when it is searching for properties within your search criteria. The Preferred Loan Officer is neither an employee of HBM II, nor the provider of the Home Buyers Scouting Report® (HBSR).
The Home Buyers Scouting Report® (HBSR) is a free home finding service of Home Buyers Marketing II, Inc. (HBM II) a licensed real estate company. HBM II provides the Report directly to homebuyers through a secure, password-protected online service.
© Copyright 2003, Home Buyers Marketing II, Inc.
The First-Time Homebuyer Tax Credit
Do you or anyone you know qualify for the first-time homebuyer tax credit? If so, here's how to take advantage of this lucrative incentive.
Qualifying first-time homebuyers can claim 10% of the purchase price up to $8,000, or $4,000 for married individuals filing separately. The credit is available for purchases completed on or after January 1, 2009, and before December 1, 2009. The credit is refundable, meaning recipients receive a check for any claim amount beyond what's owed in taxes.
Eligibility for the first-time homebuyer credit is determined by the date of the completed purchase, not the date of occupancy. One exception is if the home is being constructed, then the date of occupancy is considered the date of purchase. The home must be used as a primary residence (generally defined as where an individual spends more than 50% of their time). To be eligible, the buyer, or either spouse, cannot have owned and used a home as a primary residence within the last three years. A taxpayer who owned a rental property but not a primary residence within the past three years is eligible for the credit.
The credit does not have to be repaid unless the home is sold or ceases to be the primary residence within three years. There are some exceptions: homes sold as part of a divorce settlement, homes destroyed in a natural disaster, homes subject to condemnation, etc.
To be eligible for the credit, the home cannot be inherited, received as a gift, or purchased from a spouse or related person. The credit applies to any type of new or existing dwelling. Even some houseboats and manufactured homes used as primary residences are eligible. The $8,000 tax credit phases out for individuals with modified annual gross income (MAGI) of $75,000 to $95,000 and married couples with MAGI of $150,000 to $170,000.
With interest rates hovering at historic lows and housing affordability at its best level in more than a decade, this is a timely tax incentive. To claim the credit, fill out the IRS Form 5405 and claim this amount on line 67 of the 1040 income tax form for 2009. For more information, visit the IRS Newsroom.
The above content is for informational purposes only and should not be used as a substitute for consultation with a tax advisor.
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Vanessa Nelson and Elvira Ashmun of Ashmun & Associates with RE/MAX Gold and Julie Chroust with Prospect Mortgage have combined forces in a newly formed strategic relationship with a licensed real estate company, Home Buyers Marketing II, Inc. (HBM II). HBM II provides area homebuyers with an innovative and FREE home finding service called the Home Buyers Scouting Report®. The Home Buyers Scouting Report® matches your personal home search criteria with properties that are currently listed for sale and in your price range. Online...available 24 hours a day! At your convenience, login to HBM II's private, password-protected website to view the listings that meet your home search criteria with pictures, prices, addresses, directions, maps and more!* You can specify a particular school, lot size, almost any amenity you want and get just those listings that are in your price range. While online, you can save your favorite properties to a notebook for easy reference and to receive updated information on those properties. Can't find your favorite? You can change your personal search criteria to include additional neighborhoods and home styles. If you are interested in a specific property you have driven by, simply type in the address and view information about that property. With the Home Buyers Scouting Report® you can receive daily updates on new listings as they become available! Be the first buyer to see a new property. Many busy homebuyers have heard about a great property only to find that it had already been sold. There is no obligation. Using the Home Buyers Scouting Report® will allow you to get a real sense of the current housing market in the privacy of your own home. Whether you are looking to buy a new home soon or just thinking about new home possibilities, we believe this is the best home finding service available and as a preferred customer, we would like you to know about it. Click below for more information about receiving this FREE home finding service:
We look forward to hearing from you.
RE/MAX Gold Ashmun & Associates and Julie Chroust |
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*In some markets not all of the listings are available because of local rules and regulations. Address, mapping & other property information restrictions apply in some markets.
The Real Estate Agent and Home Buyers Marketing II, Inc. (HBM II) are cooperating licensed real estate professionals. The Real Estate Agent is neither an agent nor a broker for HBM II, but works cooperatively with HBM II to assist in your home scouting efforts.
The Preferred Loan Officer's role is to assist in determining a comfortable monthly payment and price range for Home Buyers Marketing II, Inc. (HBM II) to use when it is searching for properties within your search criteria. The Preferred Loan Officer is neither an employee of HBM II, nor the provider of the Home Buyers Scouting Report® (HBSR).
The Home Buyers Scouting Report® (HBSR) is a free home finding service of Home Buyers Marketing II, Inc. (HBM II) a licensed real estate company. HBM II provides the Report directly to homebuyers through a secure, password-protected online service.
© Copyright 2003, Home Buyers Marketing II, Inc.
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Preferred Lender for Fannie Mae's Homepath REO Loan - lending in all 50 states. We strive to provide the finest experience in the business and to continuously provide the best in mortgage services.
Julie searches the market for all possible financing scenarios, seeking highly competitive financing for the first time home buyer to the multi-million dollar investor. Underwriting, drawing documents and funding "in-house" for escrows that close "on time", every time.
Julie joined Prospect Mortgage, with a commitment and a strong desire to always do what is right for her clients. She is committed to exceeding your expectations during and after your mortgage loan experience. With a wide range of programs, she will ensure that you will always obtain the loan that is just right for you, addressing your specific financial needs while delivering quality service and honesty.
In October of 2002, Julie took her business to a whole new level, she conducts business as a "By-Referral-Only" Mortgage Consultant. What this means is that she invests 100% of her time delivering 1st class service to her clients. As a result, her valued customers, suppliers, and friends refer their family members, co-workers, neighbors and other people they know to her for advice when getting a home loan. She is interested in building strong, life-long relationships one person at a time. Julie has developed an exclusive program, Road to Wealth, in which she has deliberately focused on serving the financial needs of those who want to make the most of owning a home and using their mortgage as a financial tool rather than an obligation. She is insightful and compassionate to the needs of each client.
"In addition to working as a mortgage consultant, I devote energy to my beautiful son- Ridge, my twins- Gage and Marki Lynn and my wonderful husband, Mark as well as continuing my education. I believe a well balanced life is a state of well-being that you can reach that allows you to manage effectively multiple responsibilities in your career, your family, your physical health, and your spirituality".
- Julie
Amelia Vornhagen - "Phenomenal Mortgage Professional"-That's Julie Chroust. Julie not only has the necessary work ethic and industry knowledge that should be required of all mortgage personnel, but she has the integrity and care necessary to guide and help protect her clients and their future investments.
Juanita Mims - Julie has become a friend over the 5 years that I have known her. She helped me with a re-finance that took over 3 years to complete due to some personal problems that I had. She has always been professional and courteous each time that I had questions and concerns. I would highly recommend her services to anyone who needs to purchase a home or re-finance an existing loan.
Donnie Rath - In my experiences in working with Julie, she treats her clients and business partners with honesty, respect, and integrity. Her clients always have good things to say about their experiences in working with her.
Greta Gissel - Julie is the hardest working woman I know. She is extremely knowledgeable, courteous, conscientious and always willing to go the extra mile for a client. She exemplifies what a person would want in a mortgage expert. She is honest, and has incredible integrity. Julie is not only a wonderful person to work with, but she is a strong and incredibly amazing person. I am a better person from knowing her.
Bruce Burrows - Julie displays the highest level of integrity and professionalism; always putting her clients first and researches her industry constantly. And, she's a very nice person.
Austin Butler - I truly think Julie is a very honest and wonderful person. She is also a very hard worker, who is very adaptable at what she does. Any job she takes on she gives it her best.
Sam Mahshi - In this day and age of mortgage financing, it is pertinent to seek honesty and integrity in a loan consultant. She offers a wealth of knowledge and experience in real estate lending. Julie exceeds expectations as a consultant in providing current information and great service overall.
Rose Cortes - Seriously, Julie was amazing, patient and just so supportive during the whole process of refinancing. I can't thank her enough for what she has done for me. She is a wonderful loan officer. Words are just not enough to describe how kind she was and how efficient she was and the service she provided.
Chet Caballero - Julie Chroust is what we need in the real estate & financing business. She is trustworthy, professional & knowledgeable in her field of work.
Casey Minister - Julie made the home-buying experience much less stressful. She was very knowledgeable and always returned our calls and emails very quickly. She is honest, straightforward and she also got us a great loan. Thanks Julie!
Chris Lince - Julie stands out in the mortgage industry as one of the most knowledgeable and honest individuals I know. She keeps herself educated and up to date with all the changes in the mortgage industry. She consistently communicates with all parties in the transaction so no one is ever left out or wondering what is going on. Julie Chroust takes her career very seriously, as this is one of the largest investments people make in their lives. She works long and hard to make sure she delivers all the information properly so her clients can make the best financial decision for themselves.
She is absolutely the best Loan Consultant I know.
Marjorie Birky - I have been fortunate to have worked with Julie for several years. She is one of the hardest working women I know, and I have a tremendous amount of respect for her. Julie is a beautiful person inside and out. Three words to describe her way of doing business, and the only way she knows how, with Integrity, efficiency and honesty.
Zach Chop - She was very helpful and extremely professional. She made the entire loan process understandable and easy. She encouraged questions and her attentiveness to our needs was well known.
Zipporah Andrews - Julie is a true professional in her business. She looks out for what is best for her clients and continually educates herself and her clients. Julie is honest and has strong integrity.
Shiela Davis - Juile is hard working professional in her lline of work, with a lot of knowledge in the Mortgage industry. She is very willing to answer any questions for you or your clients. Even if there is no benefit to herself. She has many years in this feild and I would highly recommend her to any of my friends and family.
Ed Jeffry - I've known Julie for just under a year now and I would endorse her as an honest person of the highest integrity.
Julie Chroust is proud to have served family, friends, and neighbors throughout California for more than 8 years. Julie is firmly rooted in the area and is committed to maintaining the community-oriented culture. Julie takes a personal interest in each of her clients, striving to truly understand their needs and goals, and to exceed their expectations.
With combined real estate and mortgage experience, Julie strives to exceed your expectations, to be worthy of your trust, and to earn your repeat and referral business.
Julie has the advantage of offering a wide range of loan programs to customers: Fannie Mae Loans, Freddie Mac Loans, FHA Loans, FHA Renovation Loans, Veterans’ Administration (VA) Loans. CalPers, CalSters, CalHFA and Fannie Mae's HomePath REO loans.
Julie is a mortgage leader because Prospect Mortgage is a mortgage banker, in addition to being brokers. With Prospect Mortgage, you're working directly with the bank so you'll experience streamlined processes, instant access to the best rates and loan programs, the fastest turnaround time possible, timely communication and warm personalized service.
Julie specializes in First Time Home Buyer Programs such as the Homeownership Program through the California Housing Finance Agency. The mission of Homeownership Program is to provide affordable housing opportunities by offering below market interest rate mortgage programs to very low-to-moderate income first-time homebuyers. There are several unique features and programs offered which may fit the need of the prospective buyer.
DOWN PAYMENT ASSISTANCE LOAN PROGRAMS
Julie is also the leading provider of mortgage services for individuals seeking a residential mortgage, and Prospect Mortgage is an exceptional company for qualified mortgage loan professionals seeking a professional office in which to succeed.
Julie knows what it takes to be a successful leading mortgage banker and broker, and she passionately and consistently does what it takes. In addition to her strong commitment to the communities she serves, she delivers superior service throughout all phases of the mortgage process, creating exceptionally satisfied customers and successful industry professional partners in the process.
Prospect Mortgage lending in all 50 states.
Only Prospect Mortgage customers benefit from
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