JoAnn Crutchfield

"Happy Father's Day" to all the Fathers out there. I hope your day find you happy and well! If you do not own a home yet or thinking about re-financing, go to my website and apply: www.elementfunding.com/jcrutchfield

Hi, I’m Joann Crutchfield with this week’s Mortgage Minute. Everyone’s concerned about the coronavirus, its impact on the economy, and on housing. But before the coronavirus took hold, the housing market was very strong, with both new construction data and existing home sales at 13-year highs. We expect the strength to resume when things get better, and they will get better! Did you know affordability is actually improving in the United States? In addition to that, homes are... valued fairly; they’re not over-priced. Look at this metric when you take annual rents, the value of a home is about 17 times what annual rents would be. The historical average is 16, so we’re right there. The peak was 24 times annual rents and we’re nowhere near that level! Further, if you examine replacement costs, home values are 1.59 times the cost to replace the home. The 40-year average is 1.58. It’s nowhere near the peak of roughly 2. We can expect the housing market to rebound and this may be a great opportunity to buy that home you were looking for and benefit from it well into the future. If you are not already working with me to find a house, call me at 770-819-0404; I'd love to help you find your dream home. Thanks!

Good afternoon! I hope you are doing well. I wanted to follow to my recent mailer about interest rates and let you know that we have hit, all time lows due to the Corona virus concerns related to the stock market. We have seen quotes in mid 3’s to under 3% in some cases as well as strong fixed rates with no appraisals required due to value increases. However, if you have thought about getting any cash out from the home equity or have a second mortgage to combine, we shou...ld run a comparison with and with no cost in this market. Also please let me know if you run into anyone else that may need a review, I can use the help as always and appreciate it. talk soon- email me your mortgage statement and any notes if you would like me to review.

Renovation Success Story Home purchase price: $155,000 Renovation Budget $34,820... Post Renovation Value $220,000 Immediate Equity See more

Buy a House! Let me finance it for you. call 770-912-8739