David Haley Mortgage Loan Officer | Fairway Independant Mortgage Corporation

House-Flippers Gain Confidence in the High-End Market

For a long while, the luxury real estate market has been a no-man’s land for investors. It was hard enough to unload a cheap home without losing money, and the prospect of buying a mansion to fix up and flip for a profit simply was not in the cards. However, recent years has seen an improvement in the market, and ambitious property investors are once again working to buy, sell, and make out like bandits in the world of high-end houses.

The up and coming players in this recovering field have been the money lenders. While banks remain reluctant to provide house-flippers with the short-term, quick financing that they need, private lenders like Jan Brzeski have been stepping up to fill the need. Thanks to her loan, realtor Scott Ryan was able to buy a house for $1.5 million, improve the property for $600,000, and put in on the market for $3.3 million. In all-too recent memory, this house might have sat on the market for several years and several cuts in the asking price, but the current market is giving them optimism to secure a sale within a week.

According to Brzeski, he was originally wary of the high risk associated with high-end real estate investments. However, after pouring roughly $2.5 million into a venture back in 2011, he was pleased to discover that the realtor was met with a line of all-cash offers as soon as it was placed on the market. The property sold for $3.5 million, and Brzeski was sold on mansion-flipping immediately.

The causes behind this recent recovery in the high-end housing market seem to be based in the freshly robust stock market. With a slew of wealthy individuals suddenly flush with extra money, many of them are gaining confidence in buying the houses of their dreams. House-flippers are therefore gaining confidence that their riskier investments will pay off more quickly and more profitably.

Since 2011, flips of houses valued at upwards of $1 million have increased by about forty percent across the country. Between 2011 and 2012, such flipping jumped 456 percent in Phoenix, 867 percent in Orlando, and 730 percent in Las Vegas, according to RealtyTrac. These figures are based off of high-end homes that were bought and sold within six months.

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VA Home Loan – Purchase or Refinance

Blog, VA Loan Lynnwood Mortgage Loan Officer August 22nd, 2013 David Haley Mortgage Loan Officer

VA Home Loans, for me personally, are a true pleasure to work with, as they allow me the opportunity to meet all types of service men & women who acted on a core principle belief — honor! My father had served over twenty-one years in the Air Force, and it is a pleasure to have a way to thank military personnel like him for their years of service.

I am so passionate about helping our Military Personnel with a VA Home Loan because it allows the active, retired or veteran military personnel receive one of the most stable loans with no monthly mortgage insurance.

Depending on your eligibility for a VA loan, there could be no funding fee. This means you have or are receiving some disability benefit from the Department of Veteran Affairs.

Many times I have heard from a person who is wanting to refinance a home loan, and I will find out that he or she had served in our Armed Forces. I then ask them if they would like to do a VA Loan, and they say that they used it already. Well, I am here to tell you that you can use it again! While it is true that you can only have one VA loan active at a time, you may have another opportunity to use it again. We will need to dig further on this, but it can happen. Each person’s level is different.

These are rewarding loans for me, personally, as I had stated before. Should you need more information, please feel free to contact me or you can click this link for one of the best Mortgage Calculators for a VA Home Loan: Calculator. Please note the pull down bar as this will allow for several options pertaining specifically for our veterans.

Here is more added info pertaining to VA Rules: https://www.benefits.va.gov/homeloans/documents/docs/vap_26-4_online_version.pdf

Thank you for reading this. I hope it has been a big help to you.

J. Ojord

Testimonials VA Loan July 31st, 2013 David Haley Mortgage Loan Officer

David was a pleasure to work with from beginning to end. He kept me excited about the process and even spent time to sit next to me while I signed the final paperwork.

G. & A. Loth

Testimonials Lynnwood Mortgage Company Testimonial July 31st, 2013 David Haley Mortgage Loan Officer

Ours was a difficult loan as we are self-employed and David overcame every obstacle to get us an approval. All questions and concerns were addressed same day and we were always kept in the loop of our progress. Would definitely recommend him to friends. Really knew his business and educated us on our product.

C. King

Testimonials Lynnwood Mortgage Company Testimonial July 31st, 2013 David Haley Mortgage Loan Officer

In September of last year, I learned that my apartment rent was going to go up another couple hundred dollars. In the two years I had been there, it went from $1400 to $1545. I was told I would be paying over $2000. I realized I needed to buy a home rather than pay someone else. I started looking and was getting so excited about homes I was seeing. I went to a different lender to get a loan and was declined because they said I didn’t have enough in savings to get a home at that time. I needed to have an additional $7000 in my account. I had a home in Texas that was paid off, with ZERO late payments. I had great income. I didn’t understand how I could be rejected. I was quite depressed and sad about it, not wanting to pay the ridiculous amount my apartment complex was charging me. My daughter talked to an agent and told him what was going on. He said that was ridiculous and that he had a mortgage lender / banker that he knows that could get that loan for me. Although I didn’t believe it would happen, I went in to see David Haley. After going over a few things, he assured me that I should have no problem getting a loan. He helped me clear up a mistake in my credit, and made the loan process effortless to me. Within a very short time, I had my home and the only thing it cost me was 4 cents. VA loans can be a lot of work, yet David made the process so easy for me. I was given my keys the day before Thanksgiving. I can tell you, that Thanksgiving, I gave thanks to Boe for introducing me to David, and to David for helping me get my VA Loan on my new home.

C. Thornton & B. Doran

Testimonials Lynnwood Mortgage Rate July 31st, 2013 David Haley Mortgage Loan Officer

I met David through a previous job I held where I had the chance to work side by side with David. After learning David had an exceptional amount of experience in the Mortgage and Real estate world, my fiancé and I came to him immediately to secure our home loan for our first home. David never missed a beat and was by our side 100% of the way through our home buying experience. He found us the best option that suited all our needs and made sure we understood every detail. We never once felt pressured or overwhelmed when working with David and found he was always available whenever we had questions. What sets David apart from other mortgage brokers is his wealth of knowledge and overwhelming dedication to his work and clients. Even after we bought our home he is still checking in on us to this day answering any of our questions and making sure our home is working out for us. I can honestly and confidently say I would recommend David Haley to anyone of my family or friends.

J. & H. LaPine

Testimonials Lynnwood Mortgage Company Testimonial July 31st, 2013 David Haley Mortgage Loan Officer

A true pleasure to help one of the nicest families, as well as one of our Navy’s Military Pilot Veteran’s.
David was instrumental in helping my wife and I get our mortgage to successfully go through. He was available all hours of the day, making us feel as though our business meant the world to him. Having fulfilled my active-duty obligation to the Navy and rolling into the reserves while we were in the closing process, David spent hours on the phone with the VA making sure that my VA loan would be approved. Without David’s help and his team of professionals supporting his operation, my family and I would still be looking for our next home. Thank you so much for your hard work, dedication, and positive attitude!

N. & L. Johnson

Testimonials Lynnwood Home Loan July 31st, 2013 David Haley Mortgage Loan Officer

David Haley has been incredibly helpful. After walking into a couple of banks and getting nowhere we met David. He gave us a lot of time and attention and really earned our trust. He educated us about the whole mortgage process and answered any questions we had. He has a ton of knowledge about many aspects of the home buying process. Our whole situation seemed to get very unique and complicated, but David was always there to answer our questions and he helped us navigate many complicated options to find a solution that would work for us. Honestly if we had not met David I don’t think we would be buying a house today and I really feel we owe him a debt of gratitude. If I ever refinance or buy another property I would go back to David, and I definitely would recommend him to others.

Are We Headed for Another Housing Bubble?

Blog, Lynnwood Lynnwood Mortgage Lender July 23rd, 2013 David Haley Mortgage Loan Officer

Driven by the recent bond market activity, mortgage interest rates saw a sharp increase in the month of June. Some people fear that this is going to send the housing market into yet another bubble, much like we experienced last decade. However, the forecasts are not all grim.

In order for another bubble to happen, we would have to see a significant drop in the affordability of homes. As long as the national median-income household can afford the national median-priced home, we won’t be plagued with the same wave of risky credit ventures that brought about the economic downturn of the past decade. Though housing affordability was at a low point in June of 2006, forty-eight states currently enjoy an affordable housing market today.

With home prices as low as they are, we would have to see quite the substantial jump in rates in order to hurt their affordability. Meanwhile, the recent rise in mortgage rates can serve to slow the current pace of appreciation, which can actually help to prevent another bubble from forming.

Much of what ultimately happens will, of course, depend upon the unpredictable attitudes and expectations of the public, but there’s no reason to believe that we’re about to see another significant downturn anytime soon. With that in mind, keep your chin up and contact David Haley for all of your mortgage and home loan needs in the Lynnwood area.

9 Ways to Avoid Common Buyer Traps

Blog, Mortgage Resources Lynnwood Mortgage Loan Officer March 28th, 2013 David Haley Mortgage Loan Officer

As a Lynnwood mortgage loan officer, I like to think that I’m one of the few people in the real estate world you can really, truly count on to be on your side. While you can generally expect lenders and sellers to be out to increase their own profits, and even the most scrupulous realtors have to split their loyalties between you and the selling party, the mortgage loan officer is the one whose job is to keep the money in your pocket and the stress out of your mind. To this end, I’ve compiled the following list of common traps that you, as a buyer, may face when it comes time to shop for a new home. Don’t stumble, don’t snag, and don’t be taken advantage of ever again when you follow these nine simple steps!
Continue reading “9 Ways to Avoid Common Buyer Traps”

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