This is my first blog entry, and it's pretty exciting. This is something I've been wanting to do for a while, but kept putting it off. Why do I want to blog, you may ask? Well, the first selfish reason is that while I read a lot, I haven't been writing much in the past 10 years. So, often times, when I do need to write, it feels "rusty". Blogging a good place for me to pick up writing again.

But more importantly, I want to connect with people, like-minded people! By profession, I help clients with mortgage planning and building wealth through real estate investments, but, I'm really in the people business. I love to hear those stories & dreams from those I work with.

This is certainly an "exciting" time to be in the mortgage business! With rising foreclosure rates and lenders going bankrupt, I'm often asked the question "how is your business?". "Business is going well..." and before I get to finish my sentence, I usually get this surprising unbelievable look as if I was joking. Well, that's an understandable response. The thing is mortgage industry is just like any others, we have peaks and valleys. It's been a great few years with all those creative financing loan programs, but the party is now over. Back to the basics! Does this sound familiar? It wasn't too long ago when most of us thought any internet stock we buy will eventually go up to $400/share one day... The lesson I learned is the key to survive and thrive in any business, you need to stick to the fundamentals.

What am I supposed to do as a mortgage professional in this day and age? Well, guidelines may change and rates may fluctuate, but my focus remains the same - provide life value to clients. This may sound a little fuzzy, what the heck does it really mean? More than ever before, it is time for consumers to understand and utilize their mortgages as a financial tool, as opposed to a pure debt instrument. Everyone goes through life changing events at various stages of their lives. As a mortgage planner, it is my job to coach and ensure that my clients get into a financing program that is in sync with their short term cash flow situation & long term financial goals.

If you are in the market for getting a mortgage, either for purchasing a home or refinancing, and if you want to shop around, be sure to select someone who will take the time to ask you a few questions. Often times, people get attracted to an unbelievable low rate or fees, but remember: "there is no free lunch". This may sound like a cliche, but it is unfortunately true. If someone quotes you a really attractive rate without even seeing your application, you can be sure that their heart is in the commission, not in your best interest.

So, what to do as a consumer in this market? Well, first of all, don't get discouraged by what you see in the media. As we all know, media has a tendency to sensationalize everything. We are certainly going through a turbulent time, but it's for the better in my opinion. I consider the current state of the market as a "weeding" process. You will certainly see some fluctuations in the housing market, but if your main goal is to own a house called "home" and you plan to be there for at least 3-5 years, why do you care if the price may go down in the short term? I think this is the most common fear buyers have today. The real estate market has its own cycles. Just as in an up market, the perceived appreciation on your property is only a paper gain until you actually sell it. In the long run, real estate is still one of the best investments you can have to build wealth.

OK, enough babble for the day. I hope you enjoyed the reading, I invite you to come back often. I'll be back, that's for sure.