August 28, 2013 — The following is a statement by National Association of Realtors® President Gary Thomas:"The re-proposed Qualified Residential Mortgage rule announced this morning is a victory for homebuyers and the future of homeownership in this country. This version of the QRM rule will give creditworthy buyers access to safe and affordable loan products without overly burdensome downpayment requirements.
"The new standards, which align with those applied to Qualified Mortgages, are stringent enough to protect consumers from unscrupulous lending practices while also creating new opportunities for private capital to reestablish itself as part of a robust and competitive mortgage market."Realtors® were among the most vocal opponents of the first QRM rule proposed in April 2011 because it would have denied millions of creditworthy Americans access to the lowest cost and safest mortgages. We applaud the regulators for removing the 20 percent downpayment requirement and for adopting reasonable credit and debt-to-income standards."In addition to the main proposal that we support today, regulators introduced an unfavorable alternative that would require buyers to put 30 percent down to qualify for a QRM loan, a restrictive measure that dramatically favors the wealthy. Research shows that it would take the average American more than 25 years to save enough money to buy a modest home with a 30 percent downpayment."Realtors® will continue to oppose any regulation that requires unreasonably high downpayments from consumers. We are committed to working on behalf of America’s hardworking families to ensure that anyone who is able and willing to assume the responsibilities of owning a home has the opportunity to pursue that dream, now and into the future."For more information and analysis of the QRM rule, visit the Qualified Residential Mortgage and Risk Retention topic page on Realtor.org.The National Association of Realtors®, "The Voice for Real Estate," is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.
Author:Mike Siers Phone: 252-489-3861 Dated: August 28th 2013 Views: 5,787 About Mike: Mike Siers is in the top 1% in the Nations top Privately owned Real Estate company, Howard Hanna. W...
About Outer Banks Real Estate Mike and Stacy Siers Howard Hanna
We could give you the scripted bio, but it is the age of Google. Believe me when I say if you are online, you can be found. I want to tell you what you may not know.
Stacy and I have been together for most of our lives. We enjoy being around each other so much we work together. I like to say she keeps me balanced. I have been fortunate to work for many people and companies throughout the Mid Atlantic region and feel that experience has helped me understand people and situations. I have been doing sales for about 20 years, construction during 10 of those years and have managed a few companies along the way. Stacy, operated a HVAC company, managed retail and restaurants. Stacy started in Real Estate in 2008, not the best time if you dare to remember the real estate crash. She motivated me to get my license in 2009 and I started in 2010. I looked at the bad real estate market as an opportunity. A time to learn the market from the bottom up. A time to learn how to sell real estate when no one could buy it. In one of my past jobs, I learned the who, what, whens and hows of sales. I could move products! When I bought my first house out of college, I learned this was one of the most important purchases I would ever make. So when we work with clients, it is about them. We want to know why you are looking, how you want to use the house or what you are selling. What memories you have made from this house. We believe real estate is about people and relationships. We are fortunate to build friendships through real estate. It usually means we go to a lot of dinners in the summer when folks are down. (I really love that part)
The wrap up, Stacy and I won't sell you a house on The Outer Banks of North Carolina. We will work with you, share our knowledge, provide facts and dig for information on every home you are interested in and hopefully grab a bite to eat and share the memories you are making!
"August 5, 2013......
To Whom It May Concern,
During the winter of 2013, my wife Amy and I decided to invest in a property at the Outer Banks. Like many, we vacationed here often and enjoyed the family-friendly atmosphere and beautiful beaches. I spent countless hours searching MLS sites for various opportunities, making off-season trips and reading plenty of interesting and helpful articles..
Many of these articles promoted a Buyer Agent and, honestly, I thought I knew the value but many of the articles I found were posted by realtors. I knew I wanted someone to represent me when I found a house and didn’t need folks pestering me with sales calls.
I could not have been more wrong.
We engaged with Mike Nolan during one of our early searches. Mike took the time to understand what brought us here, what we were looking for and what a successful investment would be when we look back. Mike’s understanding of the market is extremely deep and his contacts up and down the peninsula are extensive. There are many people in the agent business as a second job or career, and many professional, but Mike’s understanding of the people and process proved invaluable.
We found what we thought was our property and Mike’s quick action and depth helped immediately to provide us first shot at the house. During the due diligence period we uncovered some issues that prevented us from investing. Mike talked it all through with us without pushing for a transaction and moving on as many may have done.
We started on a second home and knew immediately it was what we were looking for. Again Mike navigated us perfectly through the process. His response times were near immediate and he constantly communicated every step of the way. Just when we thought we were clear, a problem arose threatening our bid on the house. We were on the outside looking in as far as some were concerned.
We would not have this house today if it wasn’t for Mike’s professional depth, contacts and persistence. He had us protected the entire time and managed us through some rocky days. He educated other agents and was incredible in securing the house.
Thank you again Mike. And for any others reading this with interest in real estate investments, you will be in excellent hands with Mike on your team. Good luck in your search......