All Forum Posts by: Joseph Scorese

Hi @KarlDreher,

How are you and welcome to BP.

I currently coordinate monthly educational events in Philadelphia for the Local REIA's. Please email and I will send you an invite.

Regards,

Joe Scorese

Hi @ElfordStephens,

How are you and welcome to BP.

I currently coordinate monthly educational events in Philadelphia for the Local REIA's. Please email and I will send you an invite.

Regards,

Joe Scorese

Hi @DiJonee Mobley,

How are you and welcome to BP.

I currently coordinate monthly educational events in Philadelphia for the Local REIA's. Please email and I will send you an invite.

Regards,

Joe Scorese

Hey @Taneshia Macklin , How are you and welcome to BP. I currently coordinate Educational groups for the Local REIA's here in Philadelphia. Please reach out to me and I will send an invite out to you ASAP. Regards, Joe Scorese

Hey @JASONOWENS, How are you and welcome to BP. I currently coordinate Educational groups for the Local REIA's here in Philadelphia. Please reach out to me and I will send an invite out to you ASAP. Regards, Joe Scorese

Talking Real Estate Law Monday Night at Diversified Investors Group - University City Sub Group

Diversified Investors Group - University City Sub Group

Monday, September 21, 2015

6:30 PM to 8:30 PM

Harvest Bar and Grill 200 S 40th Street, Philadelphia, PA

www.digonline.org

Speaker:

Lee M. Shlamowitz, Esq.

LMS Legal LLC | www.PhillyBizLaw.com

P: (267) 908-5058 | F: (267) 388-3780

Land Title Building 100 South Broad Street Suite 920

Philadelphia, PA 19110

Discussion will Cover:

• Real Estate - Commercial and Residential
• Lease agreements | commercial/residential
• Landlord/tenant
• Deeds
• Title transfers
• Property disputes/nuisance
• Real estate investment entities
• Municipal compliance

Regards,

Joe Scorese

DIG- University City Sub Group Leader

Stephen Mazza

Licensed Realtor

Philly Managed Realty

2424 East York Street Suite 308

Philadelphia PA 19125

610-757-8544 Cell

267-457-3836 Office

Robert Vieira, Philly Managed, 2424 E. York St Ste 308 Philadelphia, PA 19125 (267) 457-3836, [email protected]

Mortgage Rates Face Big Potential Volatility Tomorrow

Mortgage rates almost made it through the past two months without any major move higher (except those moves that were correcting the major moves lower following the China-inspired volatility in late August). They ruined their winning/stable streak yesterday as broader bond markets grew increasingly anxious over tomorrow's Fed decision. Apparently, bond markets only needed a day to express that anxiety as today has been extra calm by comparison. Unfortunately, that calmness began at the new, higher rate levels from yesterday afternoon. For most lenders that puts a conventional 30yr fixed at 4.0% for top tier scenarios.

But enough about today! The questions on everyone's minds revolve around tomorrow's Fed Announcement. Will the Fed raise its policy rate? What will the effect be on mortgage rates? At the risk of bursting any bubbles, neither question can be answered until after tomorrow's news. The TV and internet is awash in opinions on the topic--some of them seemingly passionate and well-reasoned--but these people are all guessing. This is a market scenario without a remotely similar precedent. Even the precedents being offered by much of the analysis are NOT in agreement about how tomorrow will end up for any given outcome. All we can really know is that the potential volatility is extraordinary, and it could merely be the beginning of a longer term move.

That means that anyone who's not interested in taking a massive risk in exchange for massive potential reward, should be locked already. While it's just as possible that rates could improve tomorrow (after all, if lenders already "knew" that rates were going higher, they wouldn't be wasting their time offering you lower rates today), the classic lock/float quip applies: it's better to lock when you should have floated than to float when you should have locked.

Did you know Declining Markets by County By State?

Severely Distressed Housing Price Index (HPI) ‐ 6 Trailing Months (annualized)

Connecticut

Windham 09015 ‐3.50%

Maryland

Saint Mary’s 24037 ‐4.88%

New Jersey

Somerset 34035 ‐0.53%

Cumberland 34011 ‐8.02%

New York

Montgomery 36057 ‐5.03%

Madison 36053 ‐5.11%

Schenectady 36093 ‐5.60%

Tioga 36107 ‐5.78%

Pennsylvania

Columbia 42037 ‐1.23%

Lackawanna 42069 ‐1.88%

Pike 42103 ‐11.40%

Schuylkill 42107 ‐4.13%

Virginia

Pulaski 51155 ‐1.39%

Prince George 51149 ‐14.79%

Goochland 51075 ‐14.94%

California

Plumas 06063 ‐0.25%

Florida

Okeechobee 12093 ‐4.74%

Georgia

Pickens 13227 ‐0.35%

What Neighborhood @lorenzojackson?