All of our team have unique assets that make us a special partner to you in your real estate transaction. Kris has a background in construction which allows him to sometimes ask important questions needed to evaluate property that might be missed by someone with a different skill set. Our team has a keen sense of the two major values to a house utility value and property valuation. We make sure that they stay as close to harmony as we can and that you are aware of their relationship when making your decision. Your job in our partnership is to make sure that you will love the house every day and it can serve your needs or serve your needs better than anything else as perfection is rarely attainable. As your agent our team will never let your utility value outweigh your property valuation without making sure you understand the balance. Buying a house should be fun and a good investment. We will also keep you apprised of any potential opportunities we see for a higher and better use of either the property or the space possibly increasing your properties value without increasing your investment. Sometimes there are development opportunities to find a higher and better use of a property as opportunity often changes based on things that have happened on adjoining properties and not necessarily on the property for sale.
When the Government developed Fannie Mae aka FHA they were intended to be one of the first government stimulus programs designed to increase home ownership in America and stimulate the economy by guaranteeing loans for the loan originators after they were as long as they were written to Fannie Mae guidelines the originators would be insured against default on a whole sale level. This was the beginning of what we know today as our current mortgage market. Prior to FHA the lending industry didn’t have standard operating procedures or regulations so a large portion of it had an unsavory reputation and they were not commonly used by anyone other than the affluent as loans were a minimum of 50% down and sometimes 80% down payment required with a short duration not usually more than five years. This is part of what propelled the United States out of the great depression. It involved leaving the gold standard allowing for inflation of United Sates currency. Leaving the gold standard for our currency allowed for the government to create more money and for the wealth to be funneled from the top to the bottom of the wealth classes through investment in real estate. Before that most people bought their houses in cash or had almost all the money in cash which obviously restricts who and how many people can buy a house even though everyone needs a place to live. The first large companies to lend money for mortgages were not banks they were insurance companies and they didn’t loan 80% to people they loaned maximum 20% to people and were notorious for making most of their fortunes from ruthlessly repossessing entire houses from those 20% loans not being paid back on their terms until Fannie Mae stepped in banks considered it too risky to give home mortgages they had only loaned on farms and building projects as there bread and butter.