November 2008

IN THIS ISSUE

• Unlocking the Doors to Home Loans in 2008


• Check Out Our New Commercial


• Top 10 Cities for Real Estate Investing 2008


• Friends and Family Benefits


• Quote of the Month


• Food for Thought

Do you have a candidate
considering a move from
state to state?

• Click here to email your candidate's information.
  
  

• Click here to complete an online contact form.


• Call us:
  866-787-4949
  

Friends and Family
Benefits

As a value added service, we would like
to invite your friends
and family to enjoy the
same great relocation
benefits afforded to
you at no cost!

Click here for
a program flyer.

Call your Account
Executive at
866-787-4949
for details.

Quote of the Month

"Leaders need to be optimists. Their vision is beyond the present." - Unknown

Food For Thought...

• Before anything else, preparation is the key to success.


• The power to question is the basis of all human progress.


• Any plan imperfectly executed is better than no plan perfectly executed.


• A handful of patience is worth more than a bushel of brains.

In a challenging market here's what you need to know to get the deal done...

In the months before the ‘bailout’ the government announced the temporary take over of mortgage giants Fannie Mae and Freddie Mac. This announcement caused a rate decrease for 30-year fixed mortgages below 6% for the first time since May.

While a break in conforming mortgage rates could help bring some stability to the housing market, if buyers decide to take advantage of them, such changes would not be immediate. "There is generally one quarter lag time between when the rates fall and when home sales pick up," said Lawrence Yun, Chief Economist of the National Association of Realtors. He added that "an improvement in home sales might come in the 4th quarter."

While markets may be improving, candidates considering a placement involving relocation are facing many changes as a result of the mortgage crises of the last 18 months. Eric Bott, General Manager of American Sterling Bank states, "50% of borrowers can no longer qualify for a mortgage based on the new, restrictive requirements." Some of these restrictions include...

Downpayment
Increased down payment requirements for conventional loans from as low as 0% 1-1/2 years ago to a minimum of 20%.* In conjunction with this increase in down payment minimums comes the elimination of zero down conventional loans.

Credit Score
Underwriters have become more selective about borrower credit scores. While standards vary from one lender to another, the minimum for a conventional loan is a score of 620 (FHA is 580) and the best interest rate goes to the borrowers with the near perfect score of 740.

Stated Income
A recent crackdown on stated income of “liar loans” (i.e. jumbo loans, Alt A loans, 80/20 loans and no-doc loans). Down payment increased to 30% from 10% a year ago.

*Source: Arizona Republic, 9/13/08

Contact your Recruiter Relocation Account Executive,Mickey Matteson 866.787.4949 for more information.

Check Out Our New Commercial!

Mickey Matteson, Account Executive Recruiter Relocation talks about the The simple and complimentary Pre-Offer and Post-Offer service menu supports recruiters and eases the administrative tasks of placements that involve a move.

Top 10 Cities for Real Estate Investing 2008

Are you thinking what I am thinking? The housing market has been going down and now is the time to buy. Well you could be right. HomeVester a New Jersey based company is doing just that. You may not recognize them by the name, but I am sure you have seen their “We Buy Ugly Homes” signs while driving in your car. They track the best markets for investing in homes. Below are some of their top picks.

So if you invest in real estate, you may want to call the airlines now and head for Texas.

1. Dallas
2. Houston
3. Fort Worth
4. Atlanta
5. San Antonio
6. Denver
7. St. Louis
8. Philadelphia
9. Milwaukee
10. Richmond

For more information about Recruiter Relocation Programs click here or please contact: