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December 11th, 2018 10:59 PM
Yes, I ran another half marathon on Dec 8th. The finish time was 1:36:40. Not bad at all after the CIM race. I might be PR if I did not have the CIM. the first 9 miles pace was ok, around 7:10.

Finished a few Chinese books last week. Just  started Friend & Foe two days back. I read the English version first, then the Chinese version. It went pretty well. Already finished first two chapters.

Last Friday, I met the coach from Dale Carnegie Training. I contacted with them myself. I told them that I would try to improve my social skills, my interpersonal skills and communication skills. It is an 8 week training, but I can take it for free within a year if I want to. Hopefully I can benefit from the course. It starts Jan 8th, and I know the course is not cheap. But I think it is worth the money.

Locked a few Jumbo refinance loans recently with good rates. Shoot me an email if you are interested. The ARM rates could be as low as 3.625% with APR around 4.9%.

Also, I plan to send out a few books for: Friend & Foe: When to Cooperate, When to Compete, and How to Succeed at Both. Let me know if you are interested.

I know the stock market is down. I picked up some stocks recently. I might get more QQQ later on.


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Posted by Eric Fang on December 11th, 2018 10:59 PMLeave a Comment

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This past Thursday, thanks to uncertainty around the U.S. and China trade deal, fear of slowing global economic growth, a roughed-up Stock market and the likelihood of fewer Fed rate hikes, the Bond market and home loan rates hit their best levels in three months.

On Friday, the Labor Department reported that 155,000 jobs were created in November, a bit less than expectations of 189,000. The labor market remains incredibly strong and wages are rising at fastest pace in a decade.

Low rates coupled with a solid labor market and rising wages make for great home purchase conditions.

It appears the highest home loan rates for 2018 are behind us and with low inflation and low bond yields in Europe and Asia, our home loan rates should not go too high for the foreseeable future. That is great news as we head into 2019.     

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Posted by Eric Fang on December 7th, 2018 12:06 PMLeave a Comment

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Legendary investor and billionaire Warren Buffett has a tip for young people: Focus on learning how to write and speak clearly.

Here is the link: https://www.cnbc.com/2018/12/05/warren-buffett-how-to-increase-your-worth-by-50-percent.html?utm_source=pocket&utm_medium=email&utm_campaign=pockethits

“If you can’t communicate, it’s like winking at a girl in the dark — nothing happens. You can have all the brainpower in the world, but you have to be able to transmit it,” Buffett continues.

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Posted by Eric Fang on December 7th, 2018 11:22 AMLeave a Comment

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December 6th, 2018 9:42 PM
Please call me or email me if you are interested. The rates are low recently because of the volatile stocks markets.


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Posted by Eric Fang on December 6th, 2018 9:42 PMLeave a Comment

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December 2nd, 2018 8:19 PM

I ran 2018 California International Marathon Dec 2nd, 2018. The finish time is: 3:20:13.
It was 8 minutes faster than my record. I have to congratulate myself for such a big achievement.


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Posted by Eric Fang on December 2nd, 2018 8:19 PMLeave a Comment

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November 30th, 2018 10:23 PM
I just got in Berlin Marathon on  Sep 29, 2019. And two weeks later, I will have Chicago Marathon on Oct 13, 2019. How can I handle the two major marathons? And I plan to stay in Europe after the race for two weeks.

Please see the link here for the races I completed, and the upcoming races for 2019: http://www.ericfang.com/MarathonCompleted

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Posted by Eric Fang on November 30th, 2018 10:23 PMLeave a Comment

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November 28th, 2018 4:03 PM
Personally I think I changed a lot this year. First, I read a lot of Books this year. Last year, I mainly read books in English, and this year, I read more in Chinese. But mainly the translated ones. Those were written in foreign languages, but translated in Chinese, most of them were pretty good.

I made a career change myself this year. I am working for a major bank now, actually the 5th largest bank in the world. One reason is that the rate is better, and I have access to more niche market. I closed a few more loans this year, even when the rate went up most of the time this year.

I always positioned myself different from other loan agents, I can talk to my clients, share with them about my stories, how I lose weight of 35 lbs within 3 years, how I started my business though I am not a very social guy. And how I overcome a lot of difficulties.

After I started running marathons, I know the difficulty time is the last 6 miles, and if you can hold on for those miles, finishing one marathon is not difficulty. And whenever I have problems, I will think I can resolve them, and if I can hold on, everything should be fine.

Yesterday, one lady shared with me her story starting with saving $100 per month. When she just started her first job, she met a guy on the job, who changed her life. One day, he told him that I noticed that you liked to drink coffee everyday, and if you start saving the coffee money, and let's how it will change. So she started saving $100 per month, and when she had more, she saved more, and she invested them all in the mutual fund. 
And 5 years later, she found that she had $100k.

 Then she decided to purchase a property. The property(a condo) was around 500k, and she took piggy back loans since she did not have 20% down(she kept some for travel, other reserves etc).

Then another 5 years passed, she had a very good boy friend, and they saved money together, and suddenly they had $300k in the savings.

At the mean time, the mortgage broker was also her friend, and suggested her to purchase two rentals in the bay area. And she did. The two properties appreciated over $1m after the purchase.

And she felt satisfied and accomplished. And she and the boyfriend(future husband) liked travels a lot. And at the meantime, she had a dream to purchase a waterfront house in the bay area. And it was expensive.  But the first mentor told her that the waterfront house was not good for them. The reason was that the young couple loved travels, and had no time to maintain a single house, let alone the water front one. He suggested them to keep or purchase the condo. Even though this might not be the best investment property, but condo seems better for them. And they listened.

So they refinanced the first condo, with 10/1ARM interest only loan(with monthly a little bit over $1000. She used the money she saved from the condo purchased a VUL(Variable Universal life), which has enough cash value now and she ould withdraw whenever she needed it.  And Then took a heloc from the condo, use the heloc as the down payment, and purchased another luxury condo.

So after careful planning, she has 4 properties, one life insurance policy to take care of the family, positive cash flows from the investment. And she said those professionals changed her life.

One thing she mentioned that as mortgage professional, this is not just about the rate, there are also a lot of mortgage planning. And that is why we sometimes have the title as "Mortgage Consultant". Yes, my current title is Premier Mortgage Consultant. And I would like to spend my time to affect other people's life, in a positive way.

I do have lots of clients, and they take my advice seriously. And they built the portfolio like crazy, some of them purchase properties, others buy stocks/mutual funds. I even have a client who become a developer now(he build homes now in the bay area). I can get you the links if you like.

Have a nice day. And will share more stories later on. I may changed a little bit. Most of them are real.

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Posted by Eric Fang on November 28th, 2018 4:03 PMLeave a Comment

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November 27th, 2018 11:08 PM
The limit increased to $484,350 for conforming loans, and the high balance loan limit will be different for different areas. For the bay area, the HB limit would be $726,525.
Sacramento, $552k. San Diego: 690k. Ventura 713k.

I will run my last marathon of this year this Sunday. The weather is perfect, and I think I should run well(I wish).

I had a training in San Francisco today. And one lady shared about her experience about how several people made impact on her life. I will share the story tomorrow, and I will add some other stories as well. Stay tuned.

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Posted by Eric Fang on November 27th, 2018 11:08 PMLeave a Comment

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It is pretty much sure that Fed will increase the interest rate on the Dec meeting. And originally Fed planned for 3 rate hikes in 2019. With the current volatile stock market and slow growth in Japan and Germany, will Fed changed the plan and re-assess the plan to 3 hikes next year?

https://finance.yahoo.com/news/fed-apos-likely-rate-hike-163553943.html

And Trump wants Fed to cut the rates, though I think it is almost impossible with the strong economy and low unemployment rate.

https://finance.yahoo.com/m/2d1edb28-c9b1-3a90-9383-6baeeee0744c/trump-wants-fed-to-cut.html

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Posted by Eric Fang on November 21st, 2018 10:17 AMLeave a Comment

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It's clear to see there "ain't" much love in the process of the U.K. leaving the European Union (EU) in the so-called "Brexit."

The long-awaited Brexit agreement was dealt a big blow this past Thursday when two top Brexit officials and four Jr Ministers quit - citing the deal Prime Minister Theresa May reached with the EU was no good.

What does it mean for housing?

The U.S. Dollar, U.S. Bonds and home loan rates benefitted from the Brexit chaos as global investors parked their money in the relative safety of U.S. Dollar denominated assets (currency and Bonds) in what is called a "safe-haven" trade.

The U.S. Dollar had already been rising in value versus other global currencies and there are a couple of effects worth following:
  1. A strong U.S. Dollar tamps down inflation as it lowers commodity prices like oil. Have you noticed the recent price decline of gas at the pump? This is like a tax cut for the consumer looking to purchase a home.
  2. It makes U.S. imports cheaper. This along with lower oil keeps inflation down, which is good for long-term rates like mortgages.
  3. If the U.S. dollar strengthens further, the Fed may not raise rates as expected in 2019 because more hikes would further suppress inflation, which is already tame - again, good for home loan rates.

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Posted by Eric Fang on November 18th, 2018 10:29 PMLeave a Comment

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November 14th, 2018 1:37 PM

Quoted a few rates for the clients, like 250k loan with 5/1 ARM 4.125% or 7/1 ARM 4.375% with APR around 4.95%. Those rates are for no closing cost loans, not bad for the refinance and with small loan amount.

And also for those who paid off the 1st mortgage, we can offer heloc. And the rate is also pretty good. Please let me know if you are interested.

Air quality was so bad recently. I managed to have a good run this morning. Just plan to keep the shape so that I would be ready for the Marathon two weeks later.

 

WORKOUT LAPS/SPLITS

LapDist (mi)TimeAvg (min/mi)Max (min/mi)Avg HRMax HRAvg SPMMax SPMGain (ft)Loss (ft)kCal
1.1.009:569:568:551141251821902130106
2.1.009:009:007:42122129183194585496
3.1.007:337:336:11132143194212514199
4.1.007:487:487:171391441921963939106
5.1.007:427:427:291411471911942427107
6.1.007:377:377:221431471921984926106
7.1.007:477:477:371421461911963548104
8.1.007:467:467:191421461891964135101
9.0.535:2710:137:391261421731900043
Totals:8.531:10:398:166:25133147188212308285868

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Posted by Eric Fang on November 14th, 2018 1:37 PMLeave a Comment

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November 9th, 2018 10:08 PM
We can have heloc rate of up to prime - 0.5% right now(lifetime rate, not a promotion for a few months of years), please let me know if you are interested.

And we can do HELOC for rental properties as well. Just it has some restrictions.


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Posted by Eric Fang on November 9th, 2018 10:08 PMLeave a Comment

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November 8th, 2018 12:51 PM
Please find the loans we can offer:

1.       Debt-To-Income Ratio 50% for US residents.  Loan amount up to $5 million. DTI can be up to 55% with management exception.

 2.       Interest Only Payment Option for Investment Occupancy, 2nd homes and Primary Residences.  Loan amount up to $3 million.

 3.       New-To-Country Buyers & Foreign Nationals without US Credit History or US Income.  Loan amount up to $5 million. 

 4.       90% Financing for Primary Residence Occupancy, loan amount up to $1.5 million.  80% Financing, loan up to $5 million for Primary Residence.

 

5.       Family Assisted Program for US and International Buyers.  Allowing family members to help with income qualification for occupying buyers.

 6.       Gift Money allowed to be used for the entire down payment and closing costs.

 7.       Asset Based Lending for income qualification.  Ideal for buyers with limited employment income but have substantial assets.

 8.   Cash Out refinance available for investment properties – source for down payment for another purchases!.

And yes, I finished another 15 miles this morning. See the link below:
http://ericfang.blogspot.com/2018/11/workout-for-nov-5th-to-nov-11th-total.html

Completed the list of the marathons for 2019.  See the list here: http://www.ericfang.com/MarathonCompleted. We are planning for the April 2020 Paris Marathon if I do not run Boston Marathon.


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Posted by Eric Fang on November 8th, 2018 12:51 PMLeave a Comment

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I ran the tune up race of 20 miles, and my finish time is 2:32:14, with average 7:34 per mile.
This is a great race, and I need the PR badly since I did not make any progress for the past two years. Here are the splits:

 

WORKOUT LAPS/SPLITS

LapDist (mi)TimeAvg (min/mi)Max (min/mi)Avg HRMax HRAvg SPMMax SPMGain (ft)Loss (ft)kCal
1.1.007:397:397:031391521881942727109
2.1.007:417:417:00151159187200165119
3.1.007:477:477:0515015418819805119
4.1.007:377:376:54153158189196100118
5.1.007:457:457:251531581901982416119
6.1.007:437:437:091541581902101021118
7.1.007:287:287:001551591942041011116
8.1.007:187:186:4815716219620800113
9.1.007:057:056:351631671962041216116
10.1.007:177:176:56162165194200716118
11.1.007:227:226:5916116419320006118
12.1.007:217:217:04161165196202516116
13.1.007:277:277:111621661952023924118
14.1.007:227:226:56163170195202036118
15.1.007:307:307:11163165194200105119
16.1.007:457:457:2416216619119655121
17.1.007:357:357:12164169192200185121
18.1.007:507:507:1416416819119850125
19.1.007:597:597:4216316718919400126
20.1.007:537:536:591641681901982220125
21.0.100:406:316:141691722002040011
Totals:20.102:32:147:346:171581721922102032102,383


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Posted by Eric Fang on November 4th, 2018 7:26 PMLeave a Comment

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November 2nd, 2018 9:21 AM
Please see the link below about the story: https://humanwhocodes.com/blog/2018/10/my-somewhat-complete-salary-history-software-engineer/?utm_source=pocket&utm_medium=email&utm_campaign=pockethits

It listed his experience and the history of the salary increase for the past a few years. And he said that on average, he would get 10k salary increase every year.

And there is another article about people's reaction when they knew the other's salary:
https://hbr.org/2018/10/the-motivating-and-demotivating-effects-of-learning-others-salaries?utm_source=pocket&utm_medium=email&utm_campaign=pockethits

And another prediction, there will be no need for appraisers: Technology will help compile and assess property data so that the future of real estate appraisers is that they won’t exist.

And we might not need that many loan brokers any more. I will tell you the story next week.

I missed a massage yesterday and I forgot that I have a 20 mile race this weekend. That might mean I am not in the perfect race mood. I will try my best. I am still debating whether I should race the pace of 8 minutes per mile or 7:49. I will decide this Sunday.

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Posted by Eric Fang on November 2nd, 2018 9:21 AMLeave a Comment

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November 1st, 2018 12:20 PM
The most important thing is keep trying.

I do not know whether I am doing successfully for my career. At least I am happy with what I am doing and I love what I am doing, and I have a financial secure life.

One thing I learnt was to keep trying. The mortgage business was slowing down recently. I told my friends that we need to keep exercising so that we can have a good health and we are able to work long hours when the rate is getting better.

I remembered when I started my business in 2003, I sent flyers to all my neighbors, I went to talk to the neighbors door to door. I got so many rejections, and got only 2 applications after visiting around 500 homes. I know the percentage was low, but at least I got the ball rolling, and at the meantime I let all the people I knew that I am in the mortgage business. And suddenly the business flourished. And I became one of the top 1% producers.

I did two workout this morning. The first workout was supposed to run 5 sets of running with 3 minutes faster and 2 minutes slow, total of 25 minutes. But I lost the rhythm. So I did poorly for the first a few miles.  Then after 4 miles, I was able to run pace of 8 minutes per mile, and finished 7:44. So I gained a little bit confidence for the last 3 miles. After resting for another hour, I ran another 8 miles, with 7 miles at pace around 7:50. Not a bad workout finally.

You can see my workout at http://ericfang.blogspot.com/. I have some good days, some bad days, and I am still trying. Still try to have another PR sometime, even though I am a little older day after day.

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Posted by Eric Fang on November 1st, 2018 12:20 PMLeave a Comment

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October 30th, 2018 1:14 PM
Still did not have the time to read: The most important thing for the last a few days. But when we are getting older, we will think that the most important thing is your health and your family.

For me, one of my social is running. And I do not have much other socials(other than parties) recently. I used to like playing cards, the bridge, and Majong, etc. And recently I like to spend more time exercising and staying with my family.

One of my friends gave me a piece of very good advice last week: the best way to love your kids is: take good care of yourself and have a good health. I second about it. I do not want my daughter to spend too much time to take care of me when I am getting very old. I would rather do lot of chores myself and I can walk around etc.

That's why I run a lot, I bike and go swimming etc. I know I spent too much time on the work before. But after I reached the age of 45, I started taking a nap every day, and have a very good sleep each night. And I think I am in very good condition.

By the way, I think slow running is very good for your health. Maybe that's the reason I can not run faster any more. I tried to run the pace of 7:50 today, but I ended up running at the pace 8:40. Too bad for the training, but not bad for the overall health.


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Posted by Eric Fang on October 30th, 2018 1:14 PMLeave a Comment

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"The key to making money in stocks is not getting scared out of them..." Peter Lynch 

Folks didn't receive that memo this past week as the threat of rising rates and some not-so-rosy outlooks from firms like Amazon definitely frightened investors, who fled from Stocks. 

All three major Stock indices - the Dow Jones, S&P 500 and Nasdaq sold off hard this week and are now flat-to-negative for the year. 

Even a better than expected 3rd Quarter GDP reading of 3.5% along with a stellar consumer spending reading on Friday could not help Stocks avoid a selloff at the open. 

The Bond market welcomed some of the money from the Stock selloff, thus helping home loan rates improve slightly. 

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Posted by Eric Fang on October 26th, 2018 5:41 PMLeave a Comment

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October 26th, 2018 12:46 PM
Anyway, I do not timing the market. I purchased some SP 500 index funds today. And some T(AT&T for the 6% dividends), and WFC. But mainly SP index. That's my goal to purchase as much as the index funds as possible.

And I will purchase more if the market is down another 5%. Basically I will use the dividends I got each quarter, and I reinvest them into SP 500. Not much risk, any way.

Register for Chicago Marathon next year. I would run at least 6 marathons. If I can get in Berlin Marathon, I would run too. But I need wait for the lottery results.

Went to Palo Alto downtown yesterday. And I found a short cut to go back to the south bay.
If we drive on Alam St, then we can avoid the traffic. And normally if I go to SF, I would take 280.

Ran 10 miles days. Not sure about the plan for tomorrow. If my wife wants to hiking, then 10 miles hiking; otherwise, run 20 miles.

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Posted by Eric Fang on October 26th, 2018 12:46 PMLeave a Comment

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October 24th, 2018 9:23 PM
I just checked a rate for my client. And 7/1 ARM rate still around 4.06% with no closing cost, APR 5.25%. This rate is actually much better than reset rate.

The stock market is down big today. I am not concerned. Like I said before, every crashed market is a good opportunity for you. We do not have to timing the market. Just try to get some good stocks at discounted price, then hold it longer enough.

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Posted by Eric Fang on October 24th, 2018 9:23 PMLeave a Comment

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October 23rd, 2018 2:21 PM
I am reading "The most Important thing" again starting last weekend. I just finished the first chapter, the most important thing is: Second-Level Thinking.

I know it is very hard to be outsmart others. To me , a lot of people are much smarter than me, so the only way I can beat my competition is working hard. Working harder than most of the other people. From 2008 to 2013, I worked on average of 16 hours per day, that was how I gained a lot of weight till 205 lbs, then had to lose weight later, and that's how I started running marathon.

There are a few competitions to quote the rates to the prospects, and I lost a few deals. And this morning, I found that I had really good rates for 5/1 ARM, 7/1 ARM with bigger loan amount and low LTVs. The only thing I need to do is to find my niche market.

I was not satisfied with my running recently. I gained some weight and ran slowly. After having a great interval run this morning, I think I should be able to run 3:30 for the CIM in Dec, 2018. And I checked my last year's CIM time, it was not bad either. And it even qualified me for next year's Chicago Marathon.

So I think I need to be more confident about the products, about the program and about myself. I should be doing better the rest of this year and the next year. I plan to have PRs for my half marathons and marathon for 2019, though I will be one year older.

And the most important thing: if you need a rate quote or pre-approval letter, please email or call me, Eric Fang, your mortgage consultant. I will get you "the" good rate.

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Posted by Eric Fang on October 23rd, 2018 2:21 PMLeave a Comment

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October 23rd, 2018 12:37 PM

I lost a little bit confidence about myself recently. After this morning's tempo run, I think I should be able to run 3:30 for California International Marathon on Dec 2, 2018. Here was the pace for the morning run, it is not that solid, still ok since I did not have much training recently:

 

WORKOUT LAPS/SPLITS

LapDist (mi)TimeAvg (min/mi)Max (min/mi)Avg HRMax HRAvg SPMMax SPMGain (ft)Loss (ft)kCal
1.1.009:439:438:151251381771863467113
2.1.007:417:417:1614314918719276107
3.1.007:467:466:511481521901963537112
4.1.007:507:506:571491531911963130113
5.1.007:497:497:2914915319219870111
6.1.007:557:557:251501541901981014113
7.0.292:178:026:591501551881960532
8.0.725:347:487:08151155193200313479
9.1.007:567:566:571511561922003633112
10.1.007:567:567:15149153190198125107
11.1.007:597:596:561491551902003847103
12.0.010:025:3310:431511519292000
Totals:10.011:20:358:036:511461561892002302661,102

I also registered for Chicago Marathon Oct 19, 2019. So I will run the following Marathons in 2019:

Carlsbad Marathon in Jan.
Big Sur Marathon in April.
Vancouver Marathon in May
San Francisco Marathon in July.
Chicago Marathon in Oct
CIM in Dec.

Should have more fun next year.


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Posted by Eric Fang on October 23rd, 2018 12:37 PMLeave a Comment

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October 22nd, 2018 9:41 PM
Ran 13 miles in the morning. Planned to run circles around Holmby Park, but found out that the park is too small, not enough distance for the running around, so I went a little bit further to run around the golf course. Then went further to UCLA, and back to the hotel. I think next time, I will either run to the Bel Air neighborhood, or run to the Santa Monica beach. Anyway, there is no heavy traffic in the morning, especially before 7am.

Started training a little bit seriously, but still need to lose some weight. Ran another 7 miles Monday morning, still not enough for the CIM training, any way, just try to have fun.


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Posted by Eric Fang on October 22nd, 2018 9:41 PMLeave a Comment

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October 21st, 2018 10:48 PM
I am in LA this weekend, just want to spend a few hours with my daughter. Though she is working on her project, and I am writing blogs, I feel very about the trip and the valuable time with her. 

I am already financially free a few years back, but I still love my job and plan to help my clients to get a good rate and share my experience with my friends. Once my friend asked when I would retire, I told him that I would like to work till age of 76, and run marathons till 76 years old. I do not know how I get the number 76, it might be because I want to run marathon for 25 more years and work 25 more years. And I am a workaholic. I love to work, and enjoy the happiness the work brings to me everyday. 

A few years ago, I wrote on my blog about the interest rate. It is important, but it is not that important. And there are a lot of things more important than the interest rates. 

First, for the interest rates, you do not know whether you make a best decision. You will only know it a few years later. For example, 5 years ago, you got a 5/1 arm rate at 2.25%(3.25% for 30 yr fixed), then 5 years later, if you want to refi, you will get around 4%. Was it a good decision? We do not know. 

For some of my clients, it was. They enjoyed the low rates, and they paid off the loan. For some others, the refinance of 4% was not bad, the average rate of the past 10 years still below 3.25%. For others, they regretted not getting the rate fixed, but it was not bad either. 

But one thing we talked about was the interest rate. A lot of them did not remember what kind of rates they got , and how many years the rate fixed. In another word, the rate might be only “important” at the refinance time. Same for the purchase. If the current property value is 2miion, do you mind if you purchased the property at 750k or 800k? I do not if I were the owner. 

Stay tuned. 

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Posted by Eric Fang on October 21st, 2018 10:48 PMLeave a Comment

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October 18th, 2018 10:25 PM
I felt like I am letting you guys down, because I could not post the rate. And hopefully I can resume it next spring. At the meantime, please email me for the scenario, and I will get you the rate quotes right away.

The stock market is down recently. And some clients contacted with me about my opinion. Personally, I like the down market. The reason is simple: 1)I can purchase at a discounted price  2)I am planning to sell the individual stocks I have and them purchase the SP500 funds, and it make more send to swap when the market is down, since I do not have to pay hug profits on those capital gain. 3)If the stock market crashes, the interest rate normally would be good.

One friend called me and asked how I could find time to read books. I told him that I had a goal of reading 20 pages a day, or 20-30 minutes a day, so normally after 10-20 days, I can finish a book. And this would be a big accomplishment for me, especially when I list those books the end of the year.

I ran slowly recently. And I found the reason, I did not have a good sleep. Last night, I went to bed at 10:30pm , and I got up 5:30am today, and I felt so energetic. I had the mortgage training today, so I did not go out for the running, but I should do better if I can sleep early and get up early.

I can still run 40-50 miles a week, will run more till the end of Jan. One trick is that I finished the running before 7am(got up around 5:30am), and I can still have plenty time to work on the mortgages, read books, etc.

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Posted by Eric Fang on October 18th, 2018 10:25 PMLeave a Comment

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October 17th, 2018 2:11 PM

All three reports on residential construction activity in September were disappointing,
but no more so than any of the other housing data that speaks to the ongoing process of
leveling-off.  While there had been some erosion expected from the August numbers, the
actual data did not meet analysts' expectations.  Upward revisions to August permitting
took some of the sting out of that report, but the opposite happened with housing starts. 
Results were particularly poor in the South, likely resulting from the impact of Hurricane Florence.

Permits for residential construction were issued at a seasonally adjusted annual rate of
1,241,000 units.  This is 0.6 percent lower than the August estimate of 1,249,000 and 1.0
percent below the annual rate of 1,254,000 the previous September.  The August number was
an upward revision from the 1,229,000 units previously reported, wiping out some of that
month's original 5.7 percent loss.

Analysts polled by Econoday had expected permits to be at a rate of 1,272,000 units. 
Estimates ranged from 1,230,000 to 1,287,000.


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Posted by Eric Fang on October 17th, 2018 2:11 PMLeave a Comment

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October 11th, 2018 10:29 PM

I just joined a major bank, and we have very good programs for Duplex, Jumbo ARM and Rental ARM. Please email or call me if you are interested. Or just contact with me with the form on the front page.


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October 8th, 2018 7:55 AM
Worked with a few borrowers to refinance their rental ARMs. Borrowers got the reset rate letter from the lenders, but we were still able to lock 7/1 ARM 4.375% to 4.75% rates with APR 5.25%(Email me for the rate quotes, please).

The rate  trends should be up, or slightly goes up once in a while. Do not expect the rate goes down in the next two years. The simple reason is that the job numbers are "too good to be true".

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Posted by Eric Fang on October 8th, 2018 7:55 AMLeave a Comment

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October 5th, 2018 3:00 PM
Locked one good rental rate for my clients. I am not sure whether I can disclose the rate or not on the web site. But it is very close to the primary home rate for an ARM program.

Went to a 3 day training in Buffalo NY. Did not have the time to tour the city since I was swamped with the training material. And the training started at 8:30am, the shuttle came over 7:30am, and I needed to have breakfast at 6:30am, then no time for the running. My biggest mistake was to schedule this morning's 7am flight back to NorCal. Otherwise, I can at least run to Niagara Falls, and ran back. Who knows? Maybe next time.

Very excited for the San Jose Rock N Roll this weekend. Will not run too fast, will pace my friend and have fun. And I do not think I could PR this year for any races. I will keep my fingers crossed for the PR next year.

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Posted by Eric Fang on October 5th, 2018 3:00 PMLeave a Comment

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September 26th, 2018 1:46 PM
See the link below: https://www.builderonline.com/building/amazon-joins-as-ground-up-investor-in-offsite-home-building_o

Recent developments tell us that Amazon, Inc. (AMZN) has no intention of stopping at traditional retail, be it everything they sell on their site, or groceries. The most recent of those investments is a homebuilding start-up- Plant Prefab

According to a report from CNBC, "Amazon said its Alexa Fund invested in Plant Prefab, a Southern California company that says it uses sustainable construction processes and materials to build prefabricated custom and multi-family houses." The report also said that the start-up had plans to use automation to build units more quickly and cheaply. 



Read more: Amazon Invests in Pre-Made Homes, Takes Another Step Towards World Ownership | Investopedia https://www.investopedia.com/investing/amazon-invests-premade-homes-takes-another-step-towards-world-ownership/#ixzz5SF7fLJja 
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Posted by Eric Fang on September 26th, 2018 1:46 PMLeave a Comment

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