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Wilmington Branch

From the downtown river district and Riverwalk that skirts the storied Cape Fear River to the new and modern facilities that are remaking the riverfront’s skyline, Wilmington, NC is a must-see southern destination. Rivaling Charleston and Savannah in its charm and history and voted America’s Best Riverfront, Wilmington serves as the portal to all this area has to offer.

You’ll love Wilmington’s riverfront, historic neighborhoods and everything in between. Enjoy a relaxed coastal lifestyle for the perfect getaway filled with unlimited vacation choices.


6 Tips for Hosting Thanksgiving

Host Like a Champ!

FB_Thanksgiving_leaves_2018Whether it is your first time hosting or you are a Turkey-serving veteran, Land Home Orlando realizes hosting a Thanksgiving dinner can be a lot of work. However, if you keep organized, hosting Thanksgiving in your home can be a wonderful experience, full of happy memories.

1. Never turn down help.

Land Home can help you with home buyingThe beauty of Thanksgiving is friends and family coming together. There is no reason for you to be in the kitchen by yourself! Divide and conquer. Don’t be afraid to delegate those side dishes. It will make the day all the more memorable having everyone be a part of the process.

2. Prep!

Avoid those “When will the food be ready?” questions by planning your menu ahead of time. There may even be a few dishes you could make the night before. If not, look for ways to cut down on prep time early like peeling the potatoes, chopping the vegetables, or toasting the nuts.

And don’t forget the place settings! You can also prep the non-food tasks beforehand. Set your table the night before to eliminate one more task the day of.

3. Stick to what works.

Land Home First Time home buyer helpThanksgiving is all about the classics so it may not be the best time to experiment with a new recipe. If you want to spice up the menu, try a practice round a week or two before to work out the kinks.

4. Don’t stress over appetizers.

Fancy appetizers can be overkill—you don’t want your guests getting full before dinner!  Some crudités or store-bought cheese and crackers are perfect for your guests to nibble on before the main event.

5. Store bought is okay!

Making everything from scratch is a wonderful gesture but it is usually too much work for one person. If you haven’t delegated a few things to some guests, don’t be afraid to buy freshly baked rolls or a pie from your favorite bakery.

6. Enjoy the company of your family and friends!

Land Home Financial Helping families celebrateAt the end of the day, Thanksgiving is about being thankful. Be sure to take a moment to relax and enjoy sharing a meal with those you love. Down the road, your guests will remember the laughs and the stories much more than they will remember the meal.

We hope that our tips on hosting a memorable Thanksgiving in your home have helped you, Happy Thanksgiving from all of us here at Land Home Financial Services, Inc.


Single-Family, Townhome or Condominium?

Which Home Style fits You?

Whether you’re first-time home buyer, downsizer, upgrader or simply just trying to picture your life owning your own space in Central Florida, we’ve broken it down to give you positives and negatives to owning each style of dwelling.

Single Family Home

Owning a home can offer a variety of positives as well as considerations based on your goals and desires as a person, couple or growing family. Certainly a single-family offers more space for families that are growing. In addition, homes tend to be a better investment vehicle with generally a higher demand and freedom to build, expand and renovate as needed. Land Home Financial Single-Family Home

Considerations to owning a single-family home versus a townhome or condominium usually mount up in cost to maintain. Owners are typically responsible for all maintenance.

Condominium

Usually less expensive by equal comparison to a single-family home as the building maintenance is managed by the homeowner’s association for a monthly fee. These costs go to lawn maintenance, the common areas including the gym, pool, mail center, security gates and general property care. Land Home Financial Condominium

Considerations to owning a condominium would be that there is less space for growing families yet may be ideal for singles or couples as well a few others. They are generally a weaker investment than a home and harder to differentiate with less options in expansion and renovation.

 

Townhome

Owning a townhome generally can be less expensive than a single-family home due to the maintenance being offset through the association fees as well as minimal yard and garden spaces to maintain. Land Home Financial Townhouse

A townhome is a weaker investment compared to a home yet stronger than a condominium. Also, you have fewer neighbors as well as more property to enjoy. The same considerations with expansion and renovation apply when choosing a townhome over a single-family home.

Final Words

Life’s filled with endless opportunities such as travel, study, flatting, social events, must-have retail products, thoughts of marriage and possible children.

Home ownership is often the afterthought, in a series of decisions that ultimately affects our financial position and timing in acquiring our own piece of turf.

If you aren’t lucky to have your parents fund your travels or university, there are choices to be made: do you work and save for a house? Or do you travel? Or do you study then work and save for a house? Or do you get married and have children then work and save for a house?

The end result is that there is always going to be a sacrifice along the way. So if home ownership is your ultimate goal, something is going to have to take the back seat.

 


Your Preferred Community Lender

The Heart of a Community Based Lender

Core Values & Mission

The heartbeat of Land Home Financial is promote and live by a community-based philosophy with our external customers and our internal community. We’re committed to servicing our customers by providing home loan options that best fit their needs. Behind every loan is a person, a family, and a home within a community, which is why we all work so hard for those seeking real estate financing. Each customer is a member of the Land Home community.

Land Home Financial

When the transaction funds, the relationship continues because we retain almost 100% of our servicing. Land Home Financial is also committed to servicing its community of employees. Looking for ways to make our company excel is always a priority. Exceptional, stronger resources and new helpful tools are always on the agenda as Land Home Financial pursues ways to rise above competition. Suggestions and feedback provided by Land Home Financial employees is valued and helps in shaping the course for change when there is a benefit for all.

Plans for the Future

Maintaining a sustainable business plan for growth is always a main priority. Where many mortgage companies may retract their expansion goals or stop them altogether, Land Home Financial has positioned itself to stay on the course for opening branches in more markets across the country. Not only does the business plan contain new office expansion, but new division expansion as well. Doubling the footprint of the Land Home Financial brand nationally is a goal we plan to achieve. Land Home reinvests in the company, raising the quality of all facets of the enterprise to attract Loan Officers and Operational staff to help Land Home become an even stronger entity.

Land Home Invests in PeopleHaving been in the business for over 30 years has taught Land Home’s leadership how to be strategic in making business decisions that support the company business plan. Two key components that make Land Home a great place to join: Our company is fiscally secure, and our employee community is loyal and shares the same vision to accomplish goals together.

Who is Land Home Financial

Land Home is a privately-owned mortgage banker, opened in 1988. The leadership, together with employees (not a room full of shareholders), make the important lending decisions at Land Home. Our business decisions are rooted in common sense, experience, and knowledge. At Land Home we have a dedicated compliance team to offer guidance in the choices we make. We are a company that invests capital to fuel growth (rather than generate profit divided among a few).

Our customers and our employees are our greatest assets. Our common goal is to do what is in the best interest for every customer we have the opportunity to serve.

 


Welcome to Land Home Financial

Your Preferred Direct Community Lender

Since 1988, Land Home Financial has been serving communities nationwide with honesty, expertise, and a personal touch.

We provide diversified funding options and consistent, superior, personalized service to our clients and partners, including: homebuyers, mortgage brokers, builders, manufactured and modular home retailers, and real estate agents.

Get Qualified with Land Home Financial

Have a look at a just a few of the reasons that more and more Americans are choosing Land Home Financial Services:

Land Home Financial - Get Qualified

Whether you are looking to purchase a home, refinance your current mortgage, or get a reverse mortgage, our expert Loan Originators here at Land Home Financial can walk you through the process in-person or over the phone.

Success comes from Great People

Our goal is to create and maintain an environment where employees can contribute creative ideas, seek challenges, assume leadership roles, and continue to focus on meeting and exceeding both business and personal objectives. To grow, we find it essential to provide each associate on-the-job development, supplemented with suitable training as necessary.


Deciding the Best to Live

How to Decide on the Best Place to Live

Home is where the heart is so here are the most important factors to help you find a home that suits the needs of you and your family.

If you’re single, living in a bustling city might be an ideal choice for your next home. If you have a family, on the other hand, a small town offers amenities that your kids will love.

1. Affordability

No matter what your pay grade is, living comfortably and within your means should be your first concern. Affordability includes more than just housing expenses; the prices for consumable goods, like groceries, vary greatly from town to town. The price of gasoline, utility services including electric and water, and taxes, also varies.

2. Taxes

There are 40 states provide property tax credits or homestead exemptions that can provide homeowners with some additional tax relief. Consider local sales tax, income tax, and tax credits and exemptions when you’re looking for the perfect place to live.

3. Employment Opportunities

Employment opportunities vary from state to state and city to city, so spend some time researching the job markets in different areas of the country. Start by analyzing quality employment opportunities within your industry, then determine where the highest concentration of these jobs are located. Income levels for jobs can vary greatly from state to state. Do your research before you move, and ideally, find a job before you relocate.

4. Real Estate Value

Since buying a home is the single largest investment you will probably ever make, you need to seriously consider this factor. With real estate in a constant state of flux, it’s important to research current home prices, the length of time homes are for sale, the resale values of homes, and probable long-term value estimates.

5. Crime Rates and Statistics

No one wants to live in a high-crime area, but that doesn’t mean that everyone can live in a Utopian society where crime never happens. By researching the crime rates and statistics for various areas, you can learn more about the safety of a town or neighborhood.

Keep in mind that just because an area is safe today does not guarantee that it will be safe in the future. The long-term stability for a neighborhood can be a determining factor in how safe your surroundings are. Also, consider the future development of a particular location as you narrow down your choices.

6. Proximity to Family and Friends

If extended family and friends are important to you, choose a place either within driving distance or within a reasonable distance by plane. Otherwise, you’ll constantly feel torn, and likely spend all of your vacation time and energy shuttling back and forth to visit friends and family.

7. Climate

The climate plays a large role in our lives as it impacts our hobbies, behavior, and sometimes even our jobs. Living in the climate in which you are most comfortable contributes to your mental health, so choose wisely!

8. Education System

A good education is essential to setting up children to better handle the rest of their lives, so the importance of good schools cannot be overstated.

9. Culture

If you crave constant cultural stimulation, you definitely want to choose a place that has a lot of cultural offerings. Many people need to be near their favorite team, or a vibrant music scene or the theater. If you have a favorite hobby or recreational activity, make sure that you can continue to pursue these interests in your new home. Finally, if you enjoy being around a specific religious or ethnic community with your same beliefs and interests, this should be a factor in where you choose to live.

10. Commute Time and Public Transportation Options

The explosive growth of the suburbs surrounding metropolitan areas have made commuting times in many areas unbearable. The length of time it takes to get to work can be a determining factor in the decision to move to a new locale. A good public transportation system is a major plus when choosing a place to live.

11. Food Options

If you’re a foodie, you may want to try to find a place to live near the ocean or near a metropolitan city center. Grocery store fare, while plentiful, doesn’t replace the quality of fresh food from the ocean or fresh produce from the farmers’ market. If eating locally and sustainably is important to you, consider whether you can pursue this lifestyle in your new home.

12. Town or City Size

If you enjoy a friendly wave from everyone you pass while driving to the post office, then a smaller town is definitely for you. If you wish to remain relatively anonymous, a larger town or a big city is better suited to your personality.

13. Healthcare Facilities

Healthcare facilities are important at any stage in life, but they are especially relevant if you have children or if you are nearing retirement age. Easy access to good healthcare can increase your quality of life exponentially, so be on the lookout for towns and cities with good hospitals and medical schools. Often, there will be a correlation between cities and the quality of the healthcare.

14. Proximity to an Airport

If you travel a lot, you may need to live within close proximity of an airport. If you live more than an hour away from the closest airport, traveling to and from the airport can become very time-consuming and expensive. If you spend a healthy amount of time traveling, definitely consider the distance to the airport.

In closing

The reality of choosing a new place to live encompasses an incredibly large series of factors, all competing for your attention. In order to be successful in your search, you must determine what is most important to you and your family, do your homework, and then continue to be vigilant in your search until you find the right place to live. It can be intimidating and frustrating at times, but all that effort is worth it in the end once you are settled in your ideal location. Happy hunting!


We’ll Take the Loss 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.

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.

Profit“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.

2. 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 risks 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.

3. 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.

4. 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.

5. 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*


Builder 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.


Buying or 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.