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Tampa Branch

With its perfect mix of historic architecture and modern landmarks, Cuban and Spanish culture-infused flavor, vibrant business districts, beautiful waterways and beaches, Tampa is a wonderful place to work, play and unwind.Land Home Financial Tampa

Its downtown has come alive in recent years with more urban parks, including the gorgeous Tampa Riverwalk, more hip bars and innovative restaurants and amazing restorations to turn-of-the-century buildings

Tampa is known for being a great city for all ages and tastes, offering hotel accommodations that fit any budget and catering to everyone from the families to outdoor adventure seekers to foodies and wine connoisseurs. Once known as a melting pot for all cultures and settlers, Tampa remains a welcoming place for those seeking fun, opportunity and a chance to try new things.

New Homes TampaFor its 2018 Housing Forecast, realtor.com rated the top 100 markets according to factors including employment growth, household growth and unemployment. In all categories, Tampa Bay fares considerably better than the national average. The biggest demand will continue to be for “moderately priced homes” under $300,000.00.

The one category in which the bay area especially shines is new-home starts, predicted to soar by more than 20 percent next year.

That would ease one of the biggest constraints on the local real estate market — a shortage of homes for sale.

This will help increase inventory because it creates new homes for existing homeowners to trade up to and frees up existing homes. Tampa is not expected to have brisk sales growth but 1.3 percent is a pretty healthy market from the sales side.


We’ll Take the Lost for You

We Lost for You to Gain

Nonbanks lost money originating mortgages so far this year, as per-loan profitability plunged into negative territory for just the second time in a decade, the Mortgage Bankers Association (MBA) recently reported. Regardless, we are here to see you to get into your dream home!

Nonbanks reported a net loss of $118 per loan, down from a gain of $237 in the fourth quarter, the trade group said. The cause of this year’s loss was lower mortgage volume.

Land Home Financial Home Loans

In the first quarter of 2018, falling volume drove net production profitability into the red for only the second time since the inception of our report in the third quarter of 2008,” said Marina Walsh, MBA’s vice president of industry analysis.

“While production revenues per loan actually increased in the first quarter, we also reached a study-high for total production expenses at $8,957 per loan, as volume dropped.”

Being a Direct Lender Allows us the Servicing

Walsh said the losses were somewhat offset by increased servicing revenue.

Overall production expenses rose into new record territory. Total expenses increased by $482 per loan over the quarter to $8,857 per loan. Production expenses per loan were $2,733 higher in the first quarter of this year than the long-run average expense of $6,224 going back to 2008, the trade group said.

Driven by a sharp drop in rate-term refinancing activity, MBA is forecasting that overall mortgage volume will end the year down this year, clocking in at around $1.6 trillion, which is down about 6 percent from 2017.

Mortgage Application Volume

On a positive hopeful note, home-purchase loan volume is anticipated to gain about 5 percent, to $1.17 trillion, according to MBA’s most recent forecast. Now is the time to buy, stop renting and allow Land Home Financial to assist you with the right product.


Homeownership Month is Here

June is Homeownership Month

Land Home Financial and its new homeowners are celebrating National Homeownership Month in June. And with good reason: New research shows a household’s primary residence is its largest asset and continues to provide an important building block for long-term financial security.

One Quarter of All Assets

The latest edition of the Survey of Consumer Finances, published by the Board of Governors of the Federal Reserve System, reports that the primary residence accounts for about one-quarter of all assets held by households in 2016, ahead of other financial assets, business interests and retirement accounts.

Land Home Financial Homeownership month in June“Homeownership is a primary source of net worth for many Americans, and is an important step in accumulating personal financial assets over the long term,” said Randy Noel, NAHB chairman and a custom home builder.

Land Home Financial Loan Officers and Realtor Partners have a great opportunity to promote the benefits of homeownership during National Homeownership Month. Let’s see as many as we can get into a new home. With our mortgage products, expertise and sincere care, we can do it!!

Owning a Home Stabilizes Families

To have a place called “home” is priceless in stabilizing the growth and security of each member of the family. When a parent knows that their kids are safe, happy and have a place of their own, then they can be all they can be to provide for their household. For a child to know that their home and life is stable enables them to be free to  grow, play and learn to be the best they can be and enjoy living.


5 Things to know about Single-Family Home Investing

Single-Family Home Investing

  1. Know your investing criteria first

With any investment, be it stocks, bonds or real estate, you need to know what your objectives are and it is no different with single-family home investing. If you’re focused on safety and security, consider exploring low-risk investment homes that generate steady, reliable yield. An example of this may be a more expensive investment property in a good school district. You’re going to get a lower yield, but you may see better downside protection and less volatility. If you have a longer-term horizon or you’re seeking higher returns, you may want to take on a little more risk. Often, lower-priced homes will be more risky, but you may get higher yields and potentially higher long-term returns.

  1. Don’t limit your investment property search to where you live

If your primary residence, income property, and job are all located in the same area, you have a lot of concentrated risk and are more vulnerable to the swings of the local economy. An online marketplace for buying and selling leased single-family rental homes, spread risk by investing in markets outside of where they live. (Hiring a local property manager or a “local community lender” like Land Home Financial is key here.)

Diversification is just one reason to expand your investment property search. You won’t be able to find a great income property for $100,000 in Seattle, Denver, or Oakland, Calif.; but you can if focus on the Midwest, South and Southeast, including Florida.

Land Home Financial Rental Investing

  1. Separate investing from operations

One of the appeals of investing in single-family rental homes is you can hire strong local property management firms to handle day-to-day management tasks of rent collection, repairs and maintenance, and leasing. Over the past several years, property managers have adopted new technologies and business processes to manage homes more effectively for owners.

While some people do choose to self-manage, hiring a property manager can save you a lot of time and potentially money in the long run. While property management companies typically charge between 7% and 8% of the rent, they manage properties for a living and can work to ensure the property is leased, in good condition, and the tenants are happy. Additionally, using a local property manager effectively allows you to buy properties outside of where you live, as self-managing is difficult if the property is not nearby.

  1. Real estate investing is a marathon, not a sprint

You might be familiar with the house-flipping reality TV shows in which a person buys a home, fixes it up, and sells quickly for a profit. While that can be an effective way to make a one-time profit, it’s the exact opposite of how you should approach single-family rental home investing, which is about building long-term wealth. Instead, treat it like a nest egg.

In addition, don’t be overly influenced or reactive to short-term fluctuations in your rental property portfolio. You may own a home for a few months and have to deal with a tenant moving out unexpectedly, but the next tenant might reside there for several years before you have another vacancy. Look at this investment over a multi-year horizon and consider your overall outlays and inflows over that long timespan. If you buy a decent house in a decent area, the returns tend to be quite attractive over time and can add a nice counterbalance to other types of investments.

  1. Take advantage of the tools and resources available to you

New developments in technology and data access are making real estate ownership more broadly accessible to the everyday investor.

Single-family rental homes currently is a $3 trillion industry, with 1 million homes trading hands among investors every year. The investment opportunities are ripe, and never has it been less complicated for investors to buy and own homes outside their geographic location.

*Whether you are buying or selling, Land Home Financial can assist. We have developed Partner Relationship all over Florida to accommodate our customers*


Builders Confidence Climbs to 70 in May

Builder Confidence in the Market

Builder confidence in the market for newly built single-family homes rose two points to 70 in May after a downwardly revised April reading on the NAHB/Wells Fargo Housing Market Index (HMI). This is the fourth time the HMI has reached 70 or higher this year.

“The solid May report shows that builders are buoyed by growing consumer demand for single-family homes,” said NAHB Chairman Randy Noel. “However, the record high cost of lumber is hurting builders’ bottom lines and making it more difficult to produce competitively priced houses for newcomers to the market.”

“Tight housing inventory, employment gains and demographic tailwinds should continue to boost demand for newly built single-family homes,” said NAHB Chief Economist Robert Dietz. “With these fundamentals in place, the housing market should improve at a steady, gradual pace in the months ahead.”

Derived from a monthly survey that NAHB has been conducting for 30 years, the HMI gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.Builder Confidence in Land Home Financial

The HMI chart gauging current sales conditions increased two points to 76 in May while the indexes measuring buyer traffic and expectations in the next six months remained unchanged at 51 and 77, respectively.

Looking at the three-month moving averages for regional HMI scores, the West and Northeast held steady at 76 and 55, respectively. Meanwhile, the South and Midwest each edged down one point to respective levels of 72 and 65.

See detailed tables at nahb.org/hmi. More information on housing statistics is also available at housingeconomics.com.

 


How is the Real Estate Market Doing in 2018

Current Real Estate Market Status

With data on millions of homes nationwide, the folks at Realtor.com think they have a pretty good idea of how the real estate market is doing.

“Tampa Bay is not expected to have incredibly brisk sales growth but 1.3 percent is a pretty healthy market from the sales side,” Danielle Hale, realtor.com’s chief economist, said in a phone interview Tuesday from New York. “Price growth is slower than you’ve probably seen in the last year but it’s still faster than normal.”

Tampa Bay Housing Market Among the nation’s top 100 housing markets for 2018, Tampa Bay ranks 29th — below Daytona Beach, Lakeland, Miami, Orlando, Jacksonville and Sarasota but above Cape Coral and Fort Myers.

Even though (several Florida markets) ranked ahead, we’re talking about fractions of a percentage so it’s really not that big of a difference. The whole Florida area is expected to do quite well based on the current data being distributed.

Particularly in Tampa, it’s important to point out that there are more than 19 firms with annual revenues of more than $1 billion are headquartered here and it is home to four Fortune 500 companies. Tampa has a very diverse economy with financial services, STEM, health care, research, education, tourism/retirement, and military bases all making significant contributions to jobs and growth.


3 Most Common Real Estate Markets

1) A Balanced Florida Real Estate Market

A balanced real estate market is where both the supply and demand for homes and condos in a particular area is roughly equal. In a balanced real estate market there is about a six month supply of homes on the market.

A balanced real estate market is not something that usually happens for a long period of time in Florida. But that’s okay really, it’s usually just a threshold that is passed as Florida is transitioning from a buyer’s market to a seller’s market or vice-versa. The odds are that you will not likely move to Florida when it’s a balanced market.

2) A Florida Buyer’s Market

A buyers market in Florida happens when there are more people who what to sell (often to leave the state) than there are people who want to buy. During a buyer’s market in Florida there will be more than a six month supply of homes for sale. This means there will usually be a lot of homes to chose from in your price range.

florida buyer's market and seller's marketBecause the supply of homes exceeds the demand for them in a Florida buyer’s market, buyers can take their time when shopping for a home because homes will sit on the market for many months, possibly a year or longer without selling. Buyers may not want to be too eager to make an offer because sellers will often reduce their prices. Even if they don’t drop the price, more sellers are willing to entertain low offers because they have no idea how long it may be until the next offer comes along, if at all. And that offer may even be lower.

In a strong buyers market, you will notice more for sale signs appearing on more homes every week. Those new listings may also be priced lower than existing for-sale homes in the area thereby pressuring those older sellers to reduce their price in order to compete. Buyer’s markets can be lots of fun for buyers but not much for sellers and real estate brokers.

The best time to buy in Florida is during one of the many frequent buyer’s market’s, when homes and condos are selling at steep discounts of 30% or more and there’s more homes coming on the market every day.

3) A Florida Sellers Market

A seller’s market is when there are more buyers looking for homes and condos in an area than there are properties for sale. When this happens, sellers can expect to sell their home in less that six months. In a strong seller’s market a nice home may sell within weeks, days or even hours.

When there are more buyers than available homes, prices go up. In Florida, it’s not uncommon for demand to far outstrip the supply of homes for sale and push list prices skyward. During a strong seller’s market you may notice fewer for sale signs in the front yard of homes every week.

Seller’s markets are not fun for buyers. Prices are high. There is less inventory to chose from. Buyers may feel pressured to buy now because if they don’t prices may even be higher next month. During strong seller’s markets, many buyers may end up paying far more than they want for a home they really don’t like very much, simply because they believe it will be even worse if they don’t act now.

Strong Seller’s markets are fun for sellers, real estate agents that can still successfully compete for listings as inventory gets scarce, flippers (investors that buy homes, do no or minimal improvements, then jack up price and put it right back on the market) and new construction builders.

Regardless of “where” the market is, becoming a home can be the rewarding feeling knowing that you are stabilizing your family’s future and creating a legacy of building wealth and living the American Dream. We are standing by ready to help you achieve your home dreams!


Buying and Selling in Florida

If I was Going to Buy or Sell in Florida I Would…

If I was thinking of selling in Florida, I would sell now before this strong seller’s market comes to an end, which may happen much quicker than many realize.

If I living in Florida and was thinking of buying now, I would still move forward and consider buying. On the flip side, if I was thinking of moving to Florida but didn’t have to move right now, I might wait until after the current Florida real estate homes pricing settles just a little and lots of homes come on the market to choose from.land home financial buyer and sellers market

Caveats

    • The Fed has lowered interest rates to the lowest point ever and kept them there for longer than ever before. We are in uncharted territory as they raise rates.
    • The US has a downturn or recession every 7 years on average. It’s been longer that that since the last one. So the odds are, normally, …but he stock market hit a new high right after the 2016 presidential election. If a recession develops in 2018-2019, Florida real estate prices could drop substantially causing a fantastic buying opportunity of up to 50% or more off current home prices.
    • I’m hearing “you should buy now because if you don’t, prices will just be higher next week” and “It’s different this time because there’s a wave of babyboomers coming that will cause prices to just keep going up and Florida is the new California, etc.” This is exactly what they were saying right up to the last day before the Florida real estate bubble popped and home prices proceeded to drop 60% on average.
    • When this current bubble pops, prices will likely drop the most in neighborhoods where homes are occupied mainly by people who bought to live in Florida full-time.
    • Prices usually drop less in areas where homes and condos are mostly owned by wealthier folks who mainly only occupy them during the winter months such as in Palm Beach (Note: Not Palm Beach County in general, not West Palm Beach, etc., but the town of Palm Beach on the key) and Naples proper.

So Where Are Florida Home Prices Now?

  • People who moved to Florida during the 10 year “hurricane drought” only to be forced out of their homes for the first time in their lives during the “return to normal” 2017 hurricane season, will decide that where they moved from, wasn’t so bad after all and want to sell. This will increase supply and lead to lower prices.
  • People that were forced out of their homes and have not been able to return to them because hurricane damage, have already move and established life elsewhere. A high percentage of these homes will go up for sale, increasing supply and lowering prices.
  • The 2017 hurricane season which devastated parts of Texas, then Florida and finally Puerto Rico was heavily reported nationwide, slowing demand as people think twice about moving to Florida. This is reducing demand.
  • The “normal” 30,000 or so who move out of Florida for monthly now for reasons other than hurricanes, continues.
  • This has worsened throughout the year as the 2017 hurricane damage money is spent and all the those additional workers and jobs leave the state, reducing housing demand and leading to lower prices.

Where Are They Heading?

Bottom Line: What will Happen to Florida Real Estate Prices in 2018 and 2019

  • Look for growing inventory, homes sitting on the market longer and price reductions this year in 2018. This will gain steam as the year progresses and interest rates increase.
  • If the annual 6 month hurricane season in Florida in 2018 is another “normal” one like 2017 with evacuations and damage, look for Florida real estate prices to tank in 2019, fingers crossed that won’t be the case.
  • If the country experiences a downturn or recession (historically we are overdue for one) look for Florida real estate prices to drop like a rock in 2019.
  • If both of those things happen, look for Florida real estate prices to collapse and rapidly drop up to 50% or more in 2019 as the floodgates of sellers opens up and the pipeline of buyers slows to a trickle.

Dear Tommy

“extraordinary effort and professionalism”

I would like to express my appreciation for the extraordinary effort and professionalism that you and your team at LAND HOME FINANCIAL SERVICES, INC. provided to my clients in the transaction that we successfully  closed last week.

Demonstrating a winning combination of diligence and skill, you and your team were able to qualify my clients  for a home mortgage loan that several other lenders had found impossible to accomplish.  In addition—-and again—- thanks to your efforts, they were able to close their transaction stress-free, on time and because of a loan program which you found for them, they were able to come to the closing table with zero cash.

I would like to state in writing a sentiment which I have shared with  my fellow realtors: “IF TOMMY GAINER CAN NOT APPROVE NO ONE CAN!”

Please allow me to encourage you and your entire team to continue in your efforts to provide the excellent customer service which you provided to my clients in this transaction as

I feel that such a commitment will ensure your continued future success.

With much appreciation for a job well done, I remain,

Alberto A. Morillo

Realtor


Why Choose Land Home Financial

“. . . as Painless as Possible”

Dear Tommy,

We would like to take this opportunity to express our sincere appreciation of the service that we received from Land Home Financial Services during our home purchase process.

What most impressed us is your ability to put together a team of professionals who not only are well-versed in their particular field, but are as professional as any bunch of people that we have ever encountered.  Due to the efficiency of everyone involved in the process, questions that we had were very few, but those that we did have were answered promptly and to our full satisfaction.

It has been our pleasure working with you and your team, and we will not hesitate to recommend Land Home Financial Services to anyone who may be in need of a home mortgage.

Thank you all for your help during this process, a process that can be quite stressful for a potential buyer, but you and your team made this journey as painless as possible!

Sincerely,
Linda & Brian Greene

 


Land Home as Your Preferred Builder Lender

Land Home – Your “Preferred Lender”

  • What we found working with many other builders is that they usually have their own lender and then a list of three preferred lenders to choose from if their in-house lender cannot approve them they select from the Alternative List. The problem we see is that list of three alternative lenders all do the same thing and in most cases the same the in house lender? That’s where we come in – we’re different and unique as you see below from most lenders!
  • Our company is a “Direct Seller Servicer” with Fanny, Freddy and Ginny and we service 90% of all our loans which means the customer stays with us and submits their payments to us directly. This allows us to make approvals on “make sense loans” instead or corresponding to another lender and following their guidelines because the loan is being sold to another lender.
  • We have no Overlays – when we pre-approve a Borrower, we follow the agency guidelines exactly to what the Automated Underwriting System approves and tells us.
  • Because we are a direct lender, our pricing is the top 4% of all lenders in our market.
  • We are a true Community Based Lender – which means we offer all the Down Payment Assistance programs for buyers that need them and we even offer own in House DPA program which gives 5% of the sale towards down payment and closing cost as a true gift no lien and no payback on purchase price up to $417,000.00 with a minimum 620 credit score.

Review the Comparisons – We are Better for You as a BuilderTampa home builder development

  • (LHFS) No minimum credit scores on Conventional – (MOST LENDERS) Do not go below 640 some 620
  • (LHFS) Minimum credit score on FHA 580 – (MOST LENDERS) Minimum credit score of 620 – some 640
  • (LHFS) Income ratios up to 57% with AUS approval – (MOST LENDERS) Income ratios up to 50% – some 55%
  • (LHFS) We do not require Tax returns on W2 Borrower – (MOST LENDERS) Require Tax returns regardless
  • (LHFS) We allow Commission, Overtime & Bonus Income after 1 full year of client receiving them – (MOST LENDERS) Want 2 years of history to be qualified and allowed
  • (LHFS) We do not deduct 2106 Expenses on W2 Borrowers that do not receive Commission or Bonuses – (MOST LENDERS) Deduct the 2106 Business expenses against the Borrowers income
  • (LHFS) We allow part-time Job after 1 full year – (MOST LENDERS) Want 2 years of history
  • (LHFS) Conventional Loans: if the Borrower has 10 payments or less on revolving accounts and Installment accounts we do not count the debt – (MOST LENDERS) Only allow installment debt – not revolving
  • (LHFS) We allow revolving accounts to be paid down to zero and not close the account – (MOST LENDERS) Require the account to be closed
  • (LHFS) We do not require disputed accounts to be removed from the credit report; which will lower the credit score (MOST LENDERS) Require the disputed accounts  to be removed

Additionally, we have a about a 70% conversion rate on “turn downs” from already built homes from the following builders: Lennar, Pulti, Park Square, KB Homes, DR Horton, Snow Construction, Meritage, Minto & Toll Brothers and am very confident we can do the same with your organization.

*Please note all percentages and statements are subject to change based on regulations that may arise. The use of hypothetical, predictive, and current statements, by Land Home Financial Services are meant to illustrate current operation standards.