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Friday, January 30, 2015

Home Buying Basics

So you've decided to purchase a home, now what? There are many important things to consider throughout the home buying process, especially if you are a first-time home buyer. A home purchase is probably your largest financial transaction to date, so its important that you make the right decisions. With the assistance of your Lake of the Ozarks mortgage lender and real estate agent, buying a home should be an efficient, pleasant and ultimately rewarding experience. First State Bank Mortgage has some home purchasing basics to help keep you on track!

Real Estate Agent


You can count on your real estate agent to take care of the following:
  • Preview available homes to weed out those that are overpriced, or undesirable in some other way.
  • Show you the homes that fit your personal needs. 
  • Help you determine the difference between a "good buy" and a property which, because of its nature (neighborhood, market appeal, etc.), might be hard to sell in the future. 
  • Negotiate the best deal for you. With a Pre-Qualification letter from your mortgage lender at the Lake of the Ozarks in hand, your real estate agent will be able to demonstrate that you are a qualified and capable borrower. This will strongly influence the seller, and may make the difference between the acceptance of your offer or someone else's, even if your offer is lower!

Mortgage Lender


You can count on your Lake of the Ozarks home loan officer to do the following: 
  • Assist you in selecting the best loan to meet your personal situation and goals. This decision can end up saving you thousands of dollars throughout the years. 
  • Keep you informed of your loan status throughout the entire process. 
  • Keep  your real estate agent informed of the loan process. Note: Your personal information is always kept confidential; only deal points and progress are shared with your real estate agent. 
  • Get the appropriate loan for you at the best rates and fees. This will save you significant money not only upfront, but also throughout the years to come. 

Yourself


The following are items you will need to count on yourself for: 
  • Keep your real estate agent informed of any questions or concerns as they develop. 
  • Keep the process moving by providing documentation and decisions as soon as reasonably possible. By doing so, many of the details are taken care of early in the process so you can concentrate on any last-minute details or events that require your attention.
  • Enjoy purchasing your home, but remain objective throughout to make the decisions that are best for you. 
  • Make sure you are pre-approved for your home loan at the Lake of the Ozarks as early as possible. this will put the power of financing behind you so that you can focus on choosing the right home for you! 

When it comes to your financing needs, Sr. Residential Mortgage Lender Michael Lasson is committed to working with you every step of the way! I'll discuss your financing options, offer competitive interest rates and back it up with the first class service you deserve and I guarantee. Opening the doors to your Lake home!

For Lake area news, resources and tips on financial services, please 


Michael Lasson
Sr. Residential Mortgage Lender
NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B
PO Box 1449
Lake Ozark, MO 65049

Direct:  (573) 746-7211
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Friday, January 23, 2015

Are You Really Listening?

Active listening is a very important part of business relationships. By being a good listener, you're demonstrating respect to everyone in a conversation. It also helps ensure you are receiving complete details and clarity of the message. Whether you're communicating over the phone or in person, these 6 active listening strategies will keep you tuned in to the conversation!

1. Power Down. 


Don't let technology distract you while you're trying to listen. Email pop ups and cell phone notifications disrupt the conversation and distract both you and the speaker. Put your phone on silent, close your laptop and turn your desktop monitor away from you. Your messages will still be there when your conversation is over.

2. Sit Up. 


How you physcially carry yourself carries through into your energy and attentiveness. Be sure to have good posture, sit up straight and give the speaker your full attention. If you are on the phone, consider standing up to be more alert and attentive.

3. Don't Interrupt. 


Hold your clarifying questions until the speaker is done rather than interrupting the conversation. If you get the speaker off track, you may miss something important he was planning to say. Jot down your questions instead, so that you don't forget. They may even get answered along the way.

4. Cue You are Listening. 


Simple verbal cues like "uh-huh" and "okay" show the speaker that you are still present in the conversation and not just zoning everything out. If you are in person, an occasionall nod goes hand in hand with making eye contact.

5. Summarize Key Points. 


When the speaker is done, summarize his or her key points to show that you were actually listening. State with, "What I'm hearing you say is..." or "If I'm understanding you correctly..."

6. Clarify. 


Ask questions that provide additional details about a situation. You can also clarify what actions or outcomes the speaker anticipated by having the conversation with you.

Active listening is something that I, your Lake of the Ozarks mortgage lender strives to do. I will listen to your financing needs and discuss home loan options or refinancing at the Lake of the Ozarks with you. I'm committed to working with you every step of the way!

For Lake area news, resources and tips on financial services, please 


Michael Lasson
Sr. Residential Mortgage Lender
NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B
PO Box 1449
Lake Ozark, MO 65049

Direct:  (573) 746-7211
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Friday, January 16, 2015

Time to Start Thinking About Taxes

It's Tax Season and now is the time to start getting your documents in order. You should always consult with your tax professional for the best advice on your individual tax circumstances. However, You can use this overview brought to you by the Mortgage Market Guide to get started.

Look Back to Plan Ahead


Dig out your 2013 tax return for a review of the detailed information you collected last year. There are things in you will need to collect again this year in regards to itemized deductions, business use of home or car and equipment depreciation. For more information on tax preparation, please visit: www.irs.gov.

Gather Documentation 


Receipts, invoices, canceled checks, online bill pay or automatic deduction logs, mileage logs and other documents are needed to substantiate deductions. If applicable, you'll need to gather documentation for the following:
  • Charitable Gifts
  • Equipment Purchases
  • Memberships to Professional and Trade Organizations
  • Mileage for Business
  • Mileage for Volunteering 
  • Office Supplies
  • Phone and Date Bills
  • Subscriptions to Professional and Trade Publications
  • Utility Bills (for Business Use of Home) 

Plan for 2015 


To make the gathering process a lot smoother next year, devise a meaningful and easy-to-follow record system. Having one place to keep you records will make it easier next year. However, you'll have to dutifully put invoices, receipts and other documentation in there as it comes in. A file folder or box works fine if it is easily accessible. Electronic scanning and storage also works, but may take more time. 

If you deduct mileage expenses, keep a small notebook and pen in your glove compartment or center console. Commit to keeping track of every business-related mile traveled, along with the date and purpose of travel. You could also use a notebook app on your smartphone to keep track of this information digitally. Tallying your mileage at the end of each month rather than waiting until the end, will save you time. Having this system in place will assist you in substantiating expense and deduction claims going forward. 

Like any other important documents, you should store all tax-related records in a secure location for at least 5 years in case the IRS asks for further information. As your Lake of the Ozarks mortgage lender, I want to provide you with useful information to help you with your finances. If your in need of a new home loan at the Lake of the Ozarks or are thinking about refinancing, give me a call at 573-746-7211 today!

For Lake area news, resources and tips on financial services, please 


Michael Lasson
Sr. Residential Mortgage Lender
NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B
PO Box 1449
Lake Ozark, MO 65049

Direct:  (573) 746-7211
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Friday, January 9, 2015

U.S. Economy Rolls into 2015 with Favorable Numbers

The U.S. economy is starting the year off with great numbers from almost every sector! As your Lake of the Ozarks mortgage lender, I strive to keep you up to date on industry news! Take a look at these numbers and let me know if there's anything I can help you with in regards to your Lake of the Ozarks mortgage this year.

Gross Domestic Product Soars


The third quarter of 2014 ended on a high note, as the final reading for Gross Domestic Product (GDP) soared to 5 percent, led by stronger consumer and business spending. The 5 percent reading was the fastest pace for economic growth in the United States since the third quarter of 2003. GDP is the value of the production of goods and services in the U.S., adjusted for price changes, and it is considered the broadest measure of economic activity. The strong reading is a good sign for our economy heading into 2015. 

Housing Sector


After a strong fall quarter, the housing sector began to slow approaching the New Year. November Housing Starts fell by 1.6 percent from October, and single-family residential starts fell 5.4 percent, while the volatile multi-family (apartments and condominiums) segment rose. Building Permits, as well as New and Existing Home Sales also fell in November. 

Jobs Sector


Despite these decreases, the housing sector has been improving overall, primarily due to wage and job growth. A strong December Jobs Report also raised hopes of kicking off 2015 with a bang. The Labor Department reported employers added 321,000 jobs in November, the highest since January 2012. Unemployment stood unchanged from October at 5.8 percent, but lower from the 7 percent reading posted a year ago. The Wall Street Journal also reported that wage growth is accelerating. 

Taken together these are good signs for economic growth in 2015, which should help the housing sector reclaim a positive trend. 

Consumer Price Index


Something to watch as we jump into a new year, is the Consumer Price Index. Inflation can have a big impact on the Bond markets, and also on Lake of the Ozarks home loan rates, which are tied to Mortgage Bonds. The Consumer Price Index (CPI) measures monthly data on changes in the prices paid by urban consumers for a representative basket of goods and services. Plunging prices at the gas pumps led consumer prices lower in November. The CPI fell by 0.3?, versus the -0.1% expected, as the inflation reading gauge posted its largest monthly decline in 6 years. The bottom line is that inflation is known as the archenemy of Bonds and home loan rates. Inflation reduces the value of fixed investments like Bonds. This means that low inflation often comes hand in hand with low home loan rates. Keep in mind that when inflation begins to creep into our economy, it can create rapid changes in the interest rate climate.

When it comes to your Lake of the Ozarks financing needs, I'm committed to working with you every step of the way. I'll discuss financing options, offer competitive interest rates and back it up with the first-class service you deserve and I guarantee!

For Lake area news, resources and tips on financial services, please 


Michael Lasson
Sr. Residential Mortgage Lender
NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B
PO Box 1449
Lake Ozark, MO 65049

Direct:  (573) 746-7211
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Friday, January 2, 2015

Good News for Home Loan Rates Heading into the New Year

"It's a new dawn, it's a new day...and I'm feeling good." - Nina Simone


The New Year is here and we have plenty to celebrate in the mortgage world! With home loan rates remaining near historic lows, 2015 rang in with plenty for consumers to feel good about. Strong economic news has 2015 off to a great start and your Lake of the Ozarks mortgage lender is here to assist with all your financing needs this year! Take a look at these other highlights from the end of 2014:

Gross Domestic Product


The final reading for Gross Domestic Product (GDP) for the third quarter of 2014 came in at a blistering 5.0 percent, the fastest pace of economic growth since the third quarter of 2003. The big gains were led by a surge in both consumer and business spending. GDP is considered the broadest measure of economic activity, so this is a strong sign for our economy heading into the new year.

Housing Market


In housing news, the October S&P/Case-Shiller Home Price Index came in at an annual rate of 4.5 percent, down from the 4.8 percent recorded in September. The October reading was the eleventh straight month of decelerating price gains. It was also the smallest annual gain since October 2012, as price gains return to more normal levels. Also of note, sales of new and existing homes fell in November as well. The housing market continues to remain in a somewhat choppy trend, despite an improving economy and job market.

Europe's Influence 


As we look ahead into 2015, the uncertainty in Europe will continue to rear its head over time. The European Union (EU) is fighting deflation, recessionary pressures, a Greece exit from the EU, and limited political capital required for the necessary fixes. This could lead to safe haven trading in our bond market, helping Mortgage Bonds and home loan rates (which are tied to Mortgage Bonds) in the process.

The bottom line is that home loan rates remain near historic lows, and now is a great time to consider a home purchase or refinance. Let me know if I can answer any questions at all for you or your clients. 

 If you're looking to start the New Year off by refinancing your Lake of the Ozarks home or purchasing a new home, contact Lakelender Michael Lasson at 573-746-7211. When it comes to your financing needs, I'm committed to working with you every step of the way. I'll discuss financing options, offer competitive interest rates and back it up with the first class service you deserve and I guarantee!

For Lake area news, resources and tips on financial services, please 


Michael Lasson
Sr. Residential Mortgage Lender
NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B
PO Box 1449
Lake Ozark, MO 65049

Direct:  (573) 746-7211

 
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