What a week in the financial markets! Even mortgages had a wild ride yesterday. One of my favorite lenders, Dana Hines at Colorado Online Mortgage, said they got repriced 4 times yesterday afternoon, starting the day at 5.25% and ending at 5.675%. A few of the things I like about working with this particular lender are:
1. They always do what they say they'll do
2. Their rates are great, and they never charge an origination fee
3. They have a great web site for getting current rate quotes (although when the market is jumping around so much, sometimes these can be out of sync a little) and making application
4. When you need to talk to them, they answer the phone
5. When talk isn't good enough, or paperwork needs signing or picking up, you can go into their office
I do a lot of relocation work, and one of the biggest problems we run into is when a relocating buyer wants to bring their old lender along for the deal from out of state. Don't get me wrong, there are some situations that are complicated enough and the history is good enough where that can make sense, but MOST of the time, it results in problems. My most recent horror story on this was just at the New Year. I think told the story in an earlier blog, so I won't repeat it here, but the bottom line is that when relocating or even making a local move, it is a good idea to use a reputable local lender.
This week I have been showing property in the low 200's in the Powers area and on the eastern plains, and have been very impressed with overall quality of the homes we are seeing. What a great time to buy! The weather has been a little cold, but sunny at least. Yesterday it was about 10 degrees colder (16 degrees!) in Forest Green (Northeastern Black Forest) than it was at Woodmen and Powers, only a 15 minute drive or so.