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30 Second Update - Week of June 25th 2018

 

New Homes being added to the Market:

Housing Starts

A good gauge of new home construction is indicated through the Housing Start report.  A housing “Start” is seen as the breaking of ground and the start of new construction.  Within this month’s report we see that “Starts” increased from the prior month by 5% and was very strong for the month of May.  Since last year “Starts” are up over 20% and this is their strongest number in eleven years! Even with all of this new construction, demand is still keeping up with supply.  This report enforces the fact that the housing market is very hot and still a safe bet to invest in because of the amount of demand helping your investment appreciate.

Source: http://bit.ly22tkM758

Housing Completions

Another portion of this report is the housing “Completions” portion.  A “Completion”, is the number of new homes that are available for occupancy within a time period of one year.  Housing completions for May were strong: increasing since its prior month by 1.3% and over 10% since this time last year.  The strongest component of both reports was the single-family housing sector.

Source: https://www.census.gov/construction/nrc/pdf/newresconst.pdf

Did You Know?

  • Millennials are characterized as those who are born between the years 1981 and 1997.
  • In China, their millennial population is made up of over 400 million.  In the United states there are only roughly 237 million in total population.
  • Within the Millennial demographic, those aged 32 years old are the median age of a first-time home buyer.
  • First-time homebuyers account for about half of all mortgages.
  • More than half of the US Population, about 160 million people, live in just nine states: California, Texas, Illinois, Michigan, Ohio, Pennsylvania, Georgia, New York, and Florida.

Source: http://www.businessinsider.com/half-of-the-us-population-lives-in-just-9-states-2016-6

Source: https://www.bloomberg.com/news/articles/2018-06-04/first-time-u-s-homebuyers-account-for-almost-half-of-mortgages


 


 

 

Inc. Magazine Unveils 36th Annual List of

America’s Fastest-Growing Private Companies—the Inc. 5000

 

For the 9th Time, Advisors Mortgage Group Appears on the Inc. 5000 list.

 

NEW YORK, October 17, 2017Inc. Magazine has named Advisors Mortgage Group on its 36th annual Inc. 5000, the most prestigious ranking of the nation's fastest-growing private companies, for the ninth year in a row. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment— its independent small and midsized businesses. Companies such as Microsoft, Dell, Domino’s Pizza, Pandora, Timberland, LinkedIn, Yelp, Zillow, and many other well-known names gained their first national exposure as honorees of the Inc. 5000.

“It is such an honor to be recognized on this list one time, but nine years in a row is amazing. It is a testament to the great people that work at Advisors that we can receive this honor.” – Steven Meyer, President

The 2017 Inc. 5000, unveiled online at Inc.com and with the top 500 companies featured in the September issue of Inc. is the most competitive crop in the list’s history. The average company on the list achieved a mind-boggling three-year average growth of 481%. The Inc. 5000’s aggregate revenue is $206 billion, and the companies on the list collectively generated 619,500 jobs over the past three years. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000.

Advisors Mortgage Group, LLC was founded in October 1999 by a single loan officer in a 400 square foot office in Shrewsbury, New Jersey. In the years since its formation, Advisors has grown to serve not only the greater New Jersey area, but also a vast portion of the United States. With branches throughout the country and its national headquarters located in Ocean Township, NJ, Advisors Mortgage has established itself as a pillar of excellence in the mortgage industry. Over the last two years Advisors has opened operations centers in San Diego, CA and Garden City, NY to both help accommodate off-site staff members, but also to better serve sales teams in those areas.  Their immense experience is their greatest asset and is the foundation of the success of the company and every Advisors branch and loan officer.

2016 was a banner year for Advisors, opening several new offices across the country and opening a full-scale construction and renovation lending department.  With a team that has over a 100 years of combined experience in renovation and construction lending, Advisors Renovation and Construction Solutions was formed to bring these complex, yet extremely beneficial loan products to the masses.  With these products, prospective homebuyers can take on fixer-upper type homes without having to do any work themselves, but hiring contractors to turn any home into their dream home.

Advisors is constantly looking for new opportunities and great people to join the exclusive Advisors Family. If you are interested, contact Luke McCann at 732-241-9759.

 

 


Chris Rittman is a mortgage industry veteran who has been involved in the wholesale and retail sides of the mortgage business for the past 30 years. His vast knowledge of our industry makes him a true asset not only to Advisors Mortgage Group, but also to borrowers looking to purchase or refinance a home. Advisors Mortgage Group has the lending power of a large bank but also has the more presonalized touch of a local lender with corporate headquarters in Ocean Township NJ.

Chris also proudly served his country in the United States Air Force. He resides in Oceanport with his wife Barbara. They have four adult children and one grandchild. 


Found out what is the best place to work in New Jersey, click the link below.

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Accomplishments: Founding Advisors Mortgage Group and guiding it through the ups and downs of the housing market; expanding the company’s services and cultivating a great place to work; volunteering through his church, First Presbyterian Church of Red Bank.

Super Power: Knowing how to solve disputes better before the disputes even take place.

What You Wish You’d Known Earlier: “The work that needs to get done will still be there tomorrow, so no need to work until the late hours doing it tonight. It can wait until tomorrow.”

Steps to Balance Life and Work: “I typically work from 9 a.m. to 5 p.m. I used to bring work home, but no longer do that. I also do not get email on my phone, so I make sure to leave work at work.”

Essential App: Mortgage calculator.

With $1 Million to Donate, You Would Support: “A charity in Red Bank to help people who need a second chance. It would provide them shelter, food, health care, counseling, etc. There would be no cost to the care recipient, so they could hopefully get a good-paying job, afford their own place and get back on their feet.”

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