Aspen Realty Inc

02/18/2022

Great news !!

Home sales in the U.S. jumped in the first month of 2022, while the number of homes for sales hit a new record low.

Existing home sales rose 6.7% to a seasonally adjusted 6.50 million million units in January from a month earlier, according to the National Association of Realtors (NAR). The number of sales was down 2.3% from the same month a year ago. Home sales in December were revised down to 6.09 million from 6.18 million. The results far exceeded analysts' expectations of a 1.3% month-over-month decline to 6.1 million units, according to Bloomberg consensus estimates.

“Buyers were likely anticipating further rate increases and locking-in at the low rates, and investors added to overall demand with all-cash offers,” said Lawrence Yun, NAR’s chief economist. “Consequently, housing prices continue to move solidly higher.”

11/03/2021

It's still a great time to buy, sell , and or refinance a home! 👀 The Fed met today and didn't raise interests rates yet. Let me know if I can assist!

The central bank said it would cut its $120-billion-per-month purchases of Treasuries and mortgage-backed securities by $15 billion a month beginning later this month. In addition, the Fed will reduce purchases to $90-billion-per-month in December. The Fed left interest rates unchanged.
"The committee judges that similar reductions in the pace of net asset purchases will likely be appropriate each month, but it is prepared to adjust the pace of purchases if warranted by changes in the economic outlook."

At a press conference following the Fed's announcement, Chairman Jerome Powell sought to throw some cold water on the notion that with tapering under way, the Fed would shift to a more hawkish approach on interest rates.

"We don't think it is time yet to raise interest rates," Powell said, adding that officials believe inflation will subside somewhat once current supply-chain disruptions start to subside.
"We should see inflation moving down in the second and third quarters" of next year, Powell said, adding that if so, "policy will adapt appropriately."

The asset-buying has been a key element of the trillions of dollars of stimulus Washington has thrown at the economy since spring 2020. It has kept interest rates at historic lows while helping support the stock and housing markets through the period of low rates.

"The groundwork has long been done to prepare markets for this move in hopes of avoiding any disorderly response," Ameriprise Chief Market Strategist David Joy wrote ahead of the Fed meeting.
Joy noted that the September core PCE deflator, a measure of inflation known to be followed closely by the Fed, rose by 3.6 percent year-over-year in September. While that is close to double the Fed's long-term goal of around 2% annually, Joy said that "September's pace continued a string of five straight months of relative moderation in the measure's trajectory."

06/10/2021

Inflation? With the real estate still steaming hot. What what about Inflation and the treat of rising mortgage rates?

Recent data states Wall Street is training its attention on the Consumer Price Index for May, which arrives on Thursday. The report is expected to show that prices excluding food and energy continued to notch strong gains last month, rising 3.4% over the previous year.

Including food and energy, economists believe consumer prices leaped 4.7% in the past 12 months. That would be the biggest jump since summer 2008.

Traders are worried that inflation could force central banks to pull back support for the economy sooner than they'd otherwise like, hampering the fragile global recovery.

For now, reassurances from policymakers, who have maintained that price increases are temporary, appear to be working.

"I doubt the [Federal Reserve] will be spooked and I doubt markets will be unless we get the core well above [3.5%],"

Stay tuned!

05/19/2021

The real estate market and mortgage interest rates are still hot 🔥 but watch out for the Ghosts of inflation past!

Inflation is not something we're used to worrying about.

In fact, the only Americans with real memories of runaway inflation and its effect on household finances are likely to be those over the age of 60.

Remember (or don't): US inflation peaked at 14.7% in March and April 1980, with the economy experiencing "stagflation," a nightmare scenario characterized by weak growth and rising prices.

The Federal Reserve finally got inflation under control when former Chair Paul Volcker constricted the money supply and sent interest rates higher. Rates on conventional 30-year mortgages peaked at 18.45%, but prices moderated and people dependent on fixed incomes breathed a sigh a relief.

The Fed's job wasn't an easy one. Getting price rises under control was “a lot tougher than I would’ve imagined,” Volcker once told the Wall Street Journal.

“It took longer,” he said. “I was a bit taken aback. The first actions that were taken, nobody stood up and saluted. They all said, ‘This is more bu****it from the Federal Reserve.’ ”

What goes around? Many investors are too young to remember the bad old days of rampant inflation, or indeed, weren't even born (like the teens targeted by Fidelity — keep reading for more on that.) But that hasn't stopped inflation fears from dominating market sentiment in recent months.

Investors around the world are concerned that central banks will respond to rising prices by hiking interest rates and pulling back stimulus earlier than expected. The big question is whether inflation will prove fleeting.

Let me know how we can assist!
Call 317.281.6979

03/29/2021

Update for Investment property owners and tenants.

EFFECTIVE March 29, 2021

March 29, 2021

What the Moratorium Means for You
The Centers for Disease Control (CDC) announced today that it is extending its nationwide eviction moratorium through June 30, 2021.

The order was put into place Sept. 4, 2020, but has been challenged in court across numerous states and localities in the months since. In addition to the court challenges, the National Association of REALTORS® has fought successfully for federal rental assistance—and will continue to advocate to ensure the moratorium doesn’t lead to a spiraling crisis for housing providers and tenants.

“NAR helped secured $25 billion in 2020 and another $21.55 billion earlier this month in federal rental assistance funding, which can be paid directly to property owners,” says Shannon McGahn, chief advocacy officer of NAR. “This was critical to averting a multifamily real estate crisis, as many of our nation’s housing providers are mom-and-pop operations. Our focus now turns to ensuring there is not just enough funding but also a smooth implementation of rental assistance while the various challenges to eviction bans work their way through the courts.”

Under the terms of the CDC order, residents must declare that they have pursued all appropriate government assistance; met certain income and employment requirements; and are using best efforts to make timely partial payments, among other qualifications. Today’s announcement expands the order to include people “who are confirmed to have, who have been exposed to, or who might have been exposed to COVID-19 and take reasonable precautions to spread the disease.”

Covered persons must now provide their housing provider with a copy of a signed declaration form stating that they meet the requirements to be a “covered person.”

As with previous CDC orders, property owners may still evict tenants due to criminal activity, damaging property, or for violating other contractual obligations.

“Rental assistance averted two crises—one for mom-and-pop property owners who did not have a reprieve from their bills and relied on their rental income and one for tenants who would have been responsible for months of back rent when the eviction moratoriums expired,” McGahn says. “We must continue to look for ways to protect tenants.

03/05/2021

With escalating home values, limited home inventories...is it the "perfect storm"?

According to Elvis Turkovich, MBA, and President of 21st Century Lending Inc and Aspen Realty Inc.. it may be a "perfect storm is brewing " as quotes in Mortgage News, January 2021 article.

"Remember the 2008-2009 Financial crisis " , well Elvis warns be careful, and cautious of inflation. The Fed Government doesn't have 'a silver bullet" quotes Turkovich.

Mortgage interest rates ticking up!!

Higher 10 yr. Bond yields. = Higher mortgage interest rates. **

MARKET FLASH

With a wave of anxiety is sweeping through stock and bond markets as investors prepare to enter a new phase of the pandemic.

What's happening:

Elvis has concerns are growing that a strong economic recovery later this year will cause a spike in inflation. That's sparked a selloff in government bonds. When prices fall, yields rise, which weighs on stocks.

Without a sharp bump on Friday, March 5th, the S&P 500 — which has dropped in the last three trading sessions — will notch its third consecutive week of declines, as the yield on the benchmark 10-year US Treasury moves back toward 1.6%.

The takeaway is : ** higher yields in the 10 yr. Bond means higher mortgage interest rates. **

With the Covid-19 vaccine allowing for economic activity to be restored, coupled with fresh injections of fiscal stimulus in the pipeline, investors are holding on to the narrative that inflation could make a roaring comeback.

Spring is right around the corner. Home values are still are still rising and with limited home inventory.

Let us know If you need assistance with buying, selling, flipping,, remodeling homes contact Elvis @ Aspen Realty, Inc.

Let us know if anything can help lowering your mortgage rate or pre- approving you for that new home loan!

Call us at : 317.281.6979.

02/05/2021

Brrrr!! It's cold outside!!

HOW TO PREVENT FROZEN PIPES

·Keep garage doors closed if there are water supply lines in the garage.

·Open kitchen and bathroom cabinet doors to allow warmer air to circulate around the plumbing.

·When the weather is very cold outside, let the cold-water drip from the faucet served by exposed pipes. Running water through the pipe - even at a trickle - helps prevent pipes from freezing.

·Keep the thermostat set to the same temperature both during the day and at night. By temporarily suspending the use of lower nighttime temperatures, you may incur a higher heating bill, but you can prevent a much more costly repair job if pipes freeze and burst.

**If you will be going away during cold weather, leave the heat on in your home, set to a temperature no lower
than 55° F.**

02/03/2021

Welcome to MomsHouseOH! I'm Elvis Turkovich ,MBA, (and) VP of Acquisitions. This is a new program we are rolling out to assist our family and senior population!

What is Mom's House?

When Mom or Dad need to sell their house to afford their new home in senior living communities we buy their house from them at a fair market value with CASH!

We assist with their possessions they don't want or have room for.

My mother is going through the same process now after losing my Dad nearly 3 years ago, so I feel even more impassioned as an advocate for this program.

My brother and I have been stressed trying to figure it out what's best for Mom while coordinating long- distance for the last 3 years.

Family estate planning is the key! The Long Term Care policies we may have purchased may not have all the benefits expected as as we thought.

As many of you may know, I'm in the real estate and mortgage business. We still don't have all the answers to these situations! Especially what to do with all Mom's possessions: brand new dresses with tags still on them, the 4 crock pots, pots, pans, orher kitchen appliances, my Dad's tools, our sports memorabilia from school, etc. All of this work to go from a modest home they built.... to a 170 sq foot room, REALLY?

We all know how medical setbacks and transitioning our beloved senior parents can financially deteriorate your life savings and cause major mental anguish.

Please refer us to whom we can assist or leave a comment. Thank you!

10/17/2020

****NEW PRICE **** October 17 2020

********ALL FOR $60,900*****

***VERY HIGHLY MOTIVATED SELLER -- HE SAID "Elvis bring me a reasonable offer I'm ready to sell it! "

*****ALL FOR $60,900*******

**HIGHLY MOTIVATED SELLER ***Call it text me for details and coordinate showings at 317-281-6979.

**UNBELIEVABLE , RELAXING, PEACEFUL, SERENE, BEAUTY.
Awesome 20 acre remote property for sale.

Minutes form Canada.

Pack your bags, fishing poles, hunting gear, and passport!

Check out this awesome Get-A-Way on Sugar Island located in Sault Ste. Marie, MI.

What an incredible Sportsman's Paradise! Great for a Men's and Woman's retreat.

Check out this 20 x 40 Cabin remodeled, rustic Cabin on 20 acres in Paradise!

1 mile from the boat dock!

Turn key:
Everything stays, appliances. Just bring your clothes, food, and outdoor necessities to enjoy the beauty.
Get ready to move in today! Leave the rat race and enjoy nature and leave the stress behind and enjoy!

Seller said "Elvis , bring me a buyer, **ELVIS, BRING ME AN OFFER, TODAY!"

Pre approved or cash buyers only

********ALL FOR $60,900*****

CALL OR TEXT ELVIS (317)281-6979.

09/10/2020

https://www.facebook.com/515508328917971/posts/839413996527401/

**New PRICE $60,900 ** VERY HIGHLY MOTIVATED SELLER **

Paradise awaits!

Highly motivated seller will not refuse any reasonable offer!

08/10/2020

Let 21st Century Lending Inc known if they can assist. 317.281.6979

https://m.facebook.com/story.php?story_fbid=986827395088529&id=100012838329443

If it seems like you keep hearing about mortgage rates hitting yet another record low, that's because you are. The 30-year mortgage rate just hit its eighth record low so far this year.

05/15/2020

Mortgage rates just hit another record low! Call me to take advantage of these low rates.

https://www.cnbc.com/id/106539388?view=story

Sent from the CNBC App. Available on Google Play - https://play.google.com/store/apps/details?id=com.cnbc.client&referrer=utm_source%3Dgoogle%26utm_medium%3Demail%26anid%3Dadmob

A weaker-than-expected read on April's coronavirus-affected retail sales released Friday contributed to the decline, as investors moved into the relative safety of the bond market, pushing yields down.