You are invited! Picking up right where we left off last fall, the first of our monthly summer "Lunch On Us" get togethers is coming up on Friday, July 7. Join us at our offices for fun, food, and friendship! We'll be grilling out, so bring your appetite!
Friday July 7, 2006
11:00 a.m. to 1:30 p.m.
KLM Mortgage Offices:
7119 West North Avenue
Wauwatosa, WI 53213
(click here to see a map)
Thursday, June 29, 2006
Sunday, June 25, 2006
This Week's Mortgage Market Guide
From this weeks installment of the MMG:
With Bond prices moving lower for thirteen straight days, home loan rates have been climbing higher.
For last week, there wasn't much economic news of note, so what gives? It appears the market is weighing heavy in advance of next week's big plate of economic news, which includes the highly anticipated Fed meeting on Thursday, June 29th. Inflation still appears to be a concern, so it's a lock that the Fed will increase rates by another .25%, and they may go further yet. And when the Fed hikes the Fed Funds Rate, it impacts many other lending rates, such as for Home Equity lines, credit cards, car loans, business loans...they've all been moving higher over the past two years of hikes, and it looks like the hits will keep on coming. It may be time to consider restructuring your outstanding debt, so please call me for ideas and strategies that may make sense as rates continue to climb.
With Bond prices moving lower for thirteen straight days, home loan rates have been climbing higher.
For last week, there wasn't much economic news of note, so what gives? It appears the market is weighing heavy in advance of next week's big plate of economic news, which includes the highly anticipated Fed meeting on Thursday, June 29th. Inflation still appears to be a concern, so it's a lock that the Fed will increase rates by another .25%, and they may go further yet. And when the Fed hikes the Fed Funds Rate, it impacts many other lending rates, such as for Home Equity lines, credit cards, car loans, business loans...they've all been moving higher over the past two years of hikes, and it looks like the hits will keep on coming. It may be time to consider restructuring your outstanding debt, so please call me for ideas and strategies that may make sense as rates continue to climb.
Friday, June 23, 2006
A New Business: Bayshore Realty
Through my involvement in the Apartment Association of Southeastern Wisconsin I have gotten to know Nancy Haislmaier, Graig Goldman, and Maggie Haughton of Landlord Liquidators. Recently they left the realty firm they were affiliated with and have established a new company, Bayshore Realty. Congratulations to the team, I am sure the change will allow them to provide the same excellent service with even better value.
From the Bayshore Realty website:
"We are an experienced team of brokers and agents ready to help you achieve your real estate goals. Our services include both investment and residential real estate. In keeping with our commitment to you we offer variable commisions and an 'ala cart' menu of services. Our staff includes both buyer and seller specialists that are in tune with your needs."
From the Bayshore Realty website:
"We are an experienced team of brokers and agents ready to help you achieve your real estate goals. Our services include both investment and residential real estate. In keeping with our commitment to you we offer variable commisions and an 'ala cart' menu of services. Our staff includes both buyer and seller specialists that are in tune with your needs."
Thursday, June 22, 2006
Testimonial
Dear Peter:
Thank you for your professionalism and for answering all our questions in a timely manner. The re-finance was a great experience. I have, and will continue to recommend you to my friends and family who need a mortgage.
Brian and Nicole Hudson
Thank you for your professionalism and for answering all our questions in a timely manner. The re-finance was a great experience. I have, and will continue to recommend you to my friends and family who need a mortgage.
Brian and Nicole Hudson
Wednesday, June 14, 2006
Success!
The First Annual KLM Fore! Kids Golf Outing was a success! We had beautiful weather, and 80 golfers took to the links to benefit Children's Hospital of Wisconsin. Thanks to all who played and donated items to the silent aution and raffle. I look forward to doing it again next year!
Pictured above:
Joe Doyle, First Franklin
Me
Justin Dumke, Financial Resource Services, LLC
David Sengstock, Poulos, Sengstock, Budny & Ludwig
Peter
Thursday, June 01, 2006
One Week Until Tee Time!
The KLM Fore! Kids golf outing is a week from today! We still have space available, please contact me at peter@klmmortgagegroup.com or 414.453.7620 if you would like to join in the fun for a great cause.
Peter
Peter
Friday, May 26, 2006
Making an Insurance Claim?
Insurance companies are working together to maintain an extensive database of information pertaining to your home.
"You probably know that it’s not a good idea to make too many claims on your homeowners insurance policy because your insurer could drop you."
Read all about it here.
"You probably know that it’s not a good idea to make too many claims on your homeowners insurance policy because your insurer could drop you."
Read all about it here.
Thursday, May 11, 2006
A Personal Note...
Success! After racing in a few sprint distance triathlons last year, I have been training for my first Olympic distance triathlon. Last weekend I traveled to central California to race in the Wildflower triathlon. The distances are 1.5 k-swim, 40 k-bike, 10 k-run. I beat my goal time of three hours on this very hilly course by just over two minutes. Training and racing in this event was very rewarding, and I plan on returning next year.
Monday, May 01, 2006
Do You Know Someone on Medicare?
KEY DATE FOR MEDICARE - The deadline for the 43 million eligible American seniors to sign up for Medicare’s prescription drug coverage without penalty for calendar year 2006 is 2 weeks from today (5/15/06). Enrolling after that date for 2006 coverage will cost +1% more each month or an individual can wait until the next open enrollment period which begins on 11/15/06 for 2007 coverage. The 5/15/06 deadline is the end of an initial 6-month enrollment period that began on 11/15/05 (source: Medicare).
Sunday, April 30, 2006
Who Is Buying A Home?
"Last year, 21 percent of all U.S. homes were purchased by unmarried women, up from 10 percent in 1985, according to the National Association of Realtors."
Interesting article on the fact that single women make up an increasing percentage of all home buyers. I have seen this in my business and have had great fun helping single women buy their first home, divorced women buying by themselves for the first time. While the experience may seem frightening at first, my clients have told me that after they have made the decision to buy and moved forward, the whole process can be empowering.
Read the whole article here.
Interesting article on the fact that single women make up an increasing percentage of all home buyers. I have seen this in my business and have had great fun helping single women buy their first home, divorced women buying by themselves for the first time. While the experience may seem frightening at first, my clients have told me that after they have made the decision to buy and moved forward, the whole process can be empowering.
Read the whole article here.
Wednesday, April 05, 2006
Golf and Economic Updates
KLM is sponsoring a Charity Golf Outing for Children’s Hospital on June 8, 2006 at the Silver Spring Country Club. Join us for golf, lunch & dinner. Be one of our Captains or a Sponsor. The KIDS and KLM will thank you. Bob Reitman is attending!
Last week the Fed raised the Fed Funds Rate by another .25% as expected. Fed Chief Ben Bernanke did indicate there were still some inflationary concerns. The financial markets despise uncertainty and this caused home loan rates to increase by .125%.
This Friday’s Jobs Report will likely determine the course of directions for Bonds and Home Loan Rates. Good economic news tends to be good for stocks, but inflationary pressures threaten to continue to pull money away from Bonds, causing pricing to worsen and home loan rates to rise.
Last week the Fed raised the Fed Funds Rate by another .25% as expected. Fed Chief Ben Bernanke did indicate there were still some inflationary concerns. The financial markets despise uncertainty and this caused home loan rates to increase by .125%.
This Friday’s Jobs Report will likely determine the course of directions for Bonds and Home Loan Rates. Good economic news tends to be good for stocks, but inflationary pressures threaten to continue to pull money away from Bonds, causing pricing to worsen and home loan rates to rise.
Tuesday, March 28, 2006
Testimonial
Dear Peter:
Your professionalism and knowledge of the industry surpassed all of my expectations. It is clear that you truly care about your clients, and make certain that all of their needs are met in a timely, efficient manner. I will highly recommend your services to anyone seeking assistance in the home buying process.
Mya Newman
Your professionalism and knowledge of the industry surpassed all of my expectations. It is clear that you truly care about your clients, and make certain that all of their needs are met in a timely, efficient manner. I will highly recommend your services to anyone seeking assistance in the home buying process.
Mya Newman
Tuesday, March 21, 2006
What is an Escrow Account?
I recently met with one of my clients who is a first time home buyer. She has an accepted offer on a very nice house, and is excited to be moving in to a house she can call a home. We reviewed the Good Faith Estimate for her mortgage and had a lengthy discussion about what escrow is and why she would have an escrow account, so I thought it would be a useful post for this blog!
So what is it? An escrow account is a savings account for real estate taxes and homeowners insurance. Borrowers who have an escrow account associated with their mortgage pay a set amount each month in addition to the principle and interest on their mortgage, and this money is put into a savings—or escrow—account. The amount put into escrow each month is about 1/12 of the anticipated annual real estate taxes and homeowners insurance premium. For example, if a homeowner must pay $1200 in annual real estate taxes and $120 for homeowners insurance each year, the monthly escrow payment would be $130, or $120 towards taxes and $10 towards insurance. In December of each year, a check is mailed either to the borrower or directly to the municipality, and the real estate taxes are paid. On each anniversary of the purchase of the home, the lender will send a check to the insurance company, and insurance will be paid in full for the next twelve months. By having an escrow account, both the borrower and the lender know that the taxes and insurance will be paid, in full and on time!
Is escrow required? Sort of. Most lenders require escrow, though if you would rather save your own taxes, escrow can be waived for a fee, typically ¼% of the loan amount.
For more information on escrow or other mortgage questions, feel free to call or e-mail me at 414.807.7277 or pkazaks@hotmail.com
So what is it? An escrow account is a savings account for real estate taxes and homeowners insurance. Borrowers who have an escrow account associated with their mortgage pay a set amount each month in addition to the principle and interest on their mortgage, and this money is put into a savings—or escrow—account. The amount put into escrow each month is about 1/12 of the anticipated annual real estate taxes and homeowners insurance premium. For example, if a homeowner must pay $1200 in annual real estate taxes and $120 for homeowners insurance each year, the monthly escrow payment would be $130, or $120 towards taxes and $10 towards insurance. In December of each year, a check is mailed either to the borrower or directly to the municipality, and the real estate taxes are paid. On each anniversary of the purchase of the home, the lender will send a check to the insurance company, and insurance will be paid in full for the next twelve months. By having an escrow account, both the borrower and the lender know that the taxes and insurance will be paid, in full and on time!
Is escrow required? Sort of. Most lenders require escrow, though if you would rather save your own taxes, escrow can be waived for a fee, typically ¼% of the loan amount.
For more information on escrow or other mortgage questions, feel free to call or e-mail me at 414.807.7277 or pkazaks@hotmail.com
New Responsibilities
As of yesterday, I am now a member of the board of the Apartment Association of Southeastern Wisconsin. I look forward to contributing to this great organization, which helps our area's landlords provide quality housing at reasonable prices.
If you are a landlord or are considering investing in residential real estate, I suggest you check out this organization. I have been a member for a year and a half, and have learned a great deal from the speakers at our monthly meetings, and from the connections I have make through the organization.
Check out the website here.
If you are a landlord or are considering investing in residential real estate, I suggest you check out this organization. I have been a member for a year and a half, and have learned a great deal from the speakers at our monthly meetings, and from the connections I have make through the organization.
Check out the website here.
Monday, March 13, 2006
Funny
There is no doubt that the various parties I interact with in the course of a purchase transaction each have a different view the house being bought/sold/appraised/mortgaged. Find an illustrated guide here.
(tongue planted firmly in cheek...)
(tongue planted firmly in cheek...)
Sunday, March 12, 2006
Spruce Up Your Home for Under $25!
With spring on the way, I spent part of the weekend doing some "spring cleaning." Feels good to have a fresh house as we look forward to enjoying warmer weather. Many homeowners would like to spruce up their home this time of year. Need some ideas to do so without breaking the bank? Check out this article!
Monday, February 27, 2006
Testimonial
I work hard on behalf of all of my clients, and I just love receiving these!
Dear Peter,
I would be remiss if I didn’t take the time to write this letter as a demonstration of my appreciation for all your efforts. Having owned rental properties for the last 8 yrs I have met and dealt with many financial providers as it relates to home and rental loans. Your professionalism and responsiveness is impressive and I have not experienced such an informative process from beginning to end with any other financial provider. Simply put thank you Peter for your efforts that lead to a smooth and successful loan process.
-Troy H.
Dear Peter,
I would be remiss if I didn’t take the time to write this letter as a demonstration of my appreciation for all your efforts. Having owned rental properties for the last 8 yrs I have met and dealt with many financial providers as it relates to home and rental loans. Your professionalism and responsiveness is impressive and I have not experienced such an informative process from beginning to end with any other financial provider. Simply put thank you Peter for your efforts that lead to a smooth and successful loan process.
-Troy H.
Monday, February 20, 2006
Mortgage Deduction is Safe
Here's the headline from CNN.com:
Bush: We won't kill the mortgage deduction
President says he wouldn't support removing the mortgage deduction from income tax law.
Read the article here.
Bush: We won't kill the mortgage deduction
President says he wouldn't support removing the mortgage deduction from income tax law.
Read the article here.
Tuesday, January 31, 2006
Real Estate Taxes are Due!
If you haven't paid your real estate taxes yet, most municipalities require at least a partial payment by today, January 31! If you haven't done so already, make the trip down to city hall and write them a check or sign over your escrow check! The day I pay my taxes is one of mixed emotions--I'm handing over a significant amount of money, but I'm happy because it is tax deductible, and moreover, home ownership is key on the road to wealth!
Monday, January 30, 2006
Appreciation Tidbit
DOUBLE-DIGIT INCREASE - The average sales price of an existing home in the USA has increased +34% over the last 3 years (2003-05), an increase of +10.1% per year (source: National Association of Realtors)
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