Many people have compared the current financial crisis to the Great Depression. The situation is certainly serious but it is questionable whether or not things are quite so dire. The current unemployment rate of 7.2% marks a fifteen year high. However during the Great Depression it rose from 9% to almost 30%. We have learned from mistakes made by previous generations and we have financial tools at our disposal today that came about as a direct result of the difficult times during the 1930’s. One of the keys to helping the economy during Roosevelt’s presidency was massive government spending, mainly on the war bust also on the nation’s infrastructure.
The new administration also has plans for large government expenditures towards an unprecedented economic stimulus package and the creation of millions of jobs. The new administration has expressed plans to enable the United States to become “energy independent” within ten years. These expenditures, along with others that will be developed will help the economy recover.
The key to the recovery of the economy is the health of the real estate market. We are all too familiar with the declining statistics with regards to home sales. The news media has inundated us with nothing but negative messages and predictions of disaster. In order to move forward we must remain positive and remember that it is always darkest just before the dawn. We believe that the real estate market has hit bottom and that the market will take a turn for the better. Since the beginning of the year there has already been an increase in activity both for home purchases and refinances. In 1991 real estate bottomed out as well and then bounced back and thrived. The current struggles in the real estate market are similar to those seen in between 1989 and 1991. Fed chairman Ben Bernanke stated yesterday that the Federal Reserve Bank is prepared to utilize every tool available to help the ailing economy and the housing market. Several months ago former Fed chairman Alan Greenspan predicted that a bottoming out by the real estate market would be followed by a strong recovery in 2009.
The tide has begun to shift and the economic recovery will begin with prosperity in the real estate market. The mortgage industry is now seeing historic low rates for 30-year fixed- rate mortgages. The 30-year fixed-rate mortgage has not been lower since Freddie Mac started the Primary Mortgage Market Survey in 1971. Refinance applications are soaring and people that were apprehensive about looking into purchasing a home are now beginning to get off of the fence. Three key components factor together to create purchase power: low home prices, historic low fixed interest rates, and more money in buyers pockets due to low gasoline prices. Those of us in the real estate industry need to have one message. It’s a great time to consider refinancing your mortgage and it’s a great time to be thinking “Buy a home- Now!”
Forget all of the doom and gloom we have heard over and over. The only way out of a problematic situation is to find a solution, take the steps deemed necessary to solve the problem and remain positive throughout the process. The new administration in Washington is going to work hard and be innovative in its approach to solving the issues that face our economy. We as real estate professionals must do the same. Many people are scared with good reason. It is our job to help people that are in the market for a home find the right property in the right location at the right price with the correct mortgage financing to fit their needs. No one wants to have someone purchase a home only to see that the property has been foreclosed upon down the road. This is precisely why Temprano Mortgage LLC opened its doors during a turbulent economic environment. People need mortgage and real estate professionals that not only know how to do their jobs but also know what not to do. Temprano Mortgage LLC is eager to be a resource to you in order to make the coming year the best ever professionally. Temprano Mortgage LLC is committed to helping borrowers find the right mortgage product to fit their needs. We understand that every borrower is different, and we offer a variety of products to meet their individual requirements. We make the process of securing a mortgage simple and straightforward by offering the latest in financial tools that enable the borrower to make sound financial choices. We specialize in serving first time home buyers. Up front full disclosure, face to face relationships with a smile is our creed.
Our management team is unique to Southern New Jersey. It has stood out in the financial services industry for over a decade. Each member has served several of the largest financial & Real Estate retail operations in the United States. Wells Fargo, U.S. Bank, PNC Bank, Banco Popular, USAA, Merrill Lynch, PHH, Cendant, Charles Schwab, Weichert Financial, GMAC, AIG, H&R Block, Century 21, ERA and Coldwell Banker are among the many institutions represented in their diverse resume. Let us put our experience to work for you and your clients. Temprano Mortgage LLC provides its clients with an unparalleled level of service.
Please visit us on the internet at www.tempranomortgage.com
Please contact us directly at our office at (856) 292-8372 or at (609) 707-5636 on my cellular phone. You can also email us at andresduenas@comcast.net.
Let’s make 2009 a great year!
Maurice & Andres Duenas
President
Sales Manager
Temprano Mortgage LLC
210 West Kings Highway
Mount Ephraim, NJ 08059
www.tempranomortgage.com
(856) 292-8372 (Office)
(609) 707-5635 (Cell)
(856) 861-0068 (Fax)
www.tempranomortgage.com
The new administration also has plans for large government expenditures towards an unprecedented economic stimulus package and the creation of millions of jobs. The new administration has expressed plans to enable the United States to become “energy independent” within ten years. These expenditures, along with others that will be developed will help the economy recover.
The key to the recovery of the economy is the health of the real estate market. We are all too familiar with the declining statistics with regards to home sales. The news media has inundated us with nothing but negative messages and predictions of disaster. In order to move forward we must remain positive and remember that it is always darkest just before the dawn. We believe that the real estate market has hit bottom and that the market will take a turn for the better. Since the beginning of the year there has already been an increase in activity both for home purchases and refinances. In 1991 real estate bottomed out as well and then bounced back and thrived. The current struggles in the real estate market are similar to those seen in between 1989 and 1991. Fed chairman Ben Bernanke stated yesterday that the Federal Reserve Bank is prepared to utilize every tool available to help the ailing economy and the housing market. Several months ago former Fed chairman Alan Greenspan predicted that a bottoming out by the real estate market would be followed by a strong recovery in 2009.
The tide has begun to shift and the economic recovery will begin with prosperity in the real estate market. The mortgage industry is now seeing historic low rates for 30-year fixed- rate mortgages. The 30-year fixed-rate mortgage has not been lower since Freddie Mac started the Primary Mortgage Market Survey in 1971. Refinance applications are soaring and people that were apprehensive about looking into purchasing a home are now beginning to get off of the fence. Three key components factor together to create purchase power: low home prices, historic low fixed interest rates, and more money in buyers pockets due to low gasoline prices. Those of us in the real estate industry need to have one message. It’s a great time to consider refinancing your mortgage and it’s a great time to be thinking “Buy a home- Now!”
Forget all of the doom and gloom we have heard over and over. The only way out of a problematic situation is to find a solution, take the steps deemed necessary to solve the problem and remain positive throughout the process. The new administration in Washington is going to work hard and be innovative in its approach to solving the issues that face our economy. We as real estate professionals must do the same. Many people are scared with good reason. It is our job to help people that are in the market for a home find the right property in the right location at the right price with the correct mortgage financing to fit their needs. No one wants to have someone purchase a home only to see that the property has been foreclosed upon down the road. This is precisely why Temprano Mortgage LLC opened its doors during a turbulent economic environment. People need mortgage and real estate professionals that not only know how to do their jobs but also know what not to do. Temprano Mortgage LLC is eager to be a resource to you in order to make the coming year the best ever professionally. Temprano Mortgage LLC is committed to helping borrowers find the right mortgage product to fit their needs. We understand that every borrower is different, and we offer a variety of products to meet their individual requirements. We make the process of securing a mortgage simple and straightforward by offering the latest in financial tools that enable the borrower to make sound financial choices. We specialize in serving first time home buyers. Up front full disclosure, face to face relationships with a smile is our creed.
Our management team is unique to Southern New Jersey. It has stood out in the financial services industry for over a decade. Each member has served several of the largest financial & Real Estate retail operations in the United States. Wells Fargo, U.S. Bank, PNC Bank, Banco Popular, USAA, Merrill Lynch, PHH, Cendant, Charles Schwab, Weichert Financial, GMAC, AIG, H&R Block, Century 21, ERA and Coldwell Banker are among the many institutions represented in their diverse resume. Let us put our experience to work for you and your clients. Temprano Mortgage LLC provides its clients with an unparalleled level of service.
Please visit us on the internet at www.tempranomortgage.com
Please contact us directly at our office at (856) 292-8372 or at (609) 707-5636 on my cellular phone. You can also email us at andresduenas@comcast.net.
Let’s make 2009 a great year!
Maurice & Andres Duenas
President
Sales Manager
Temprano Mortgage LLC
210 West Kings Highway
Mount Ephraim, NJ 08059
www.tempranomortgage.com
(856) 292-8372 (Office)
(609) 707-5635 (Cell)
(856) 861-0068 (Fax)
www.tempranomortgage.com
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