Norman

Mortgage Monday - Diversity

“Commitment to gender diversity hasn’t translated into meaningful progress”

There is a lot of discussion about increased women’s roles in a variety of organizations.  The volume of that discourse tells me we should be having this conversation in the real estate finance industry.

Marcia Davies, Chief Operating Officer of the Mortgage Bankers Association, is actively involved in bringing more gender diversity to the mortgage industry.  In the comprehensive national study of “Women in The Workplace” Davies confirmed that companies’ stated commitment to gender diversity hasn’t translated into meaningful progress.

Women, especially women of color, continue to be underrepresented at every level, and particularly in senior leadership. It is going to take a mindful, focused, and purposeful approach at all levels, but especially from leadership.

The different perspectives and experience they gain from inclusion of diversity offer top leadership a window into connecting with more consumers, coworkers, and others we serve.  Having diverse voices around the table provides an organization with ideas and insights leadership might not have previously considered.  That thought process creates a dynamic that makes organizations accomplish more than they ever set out to achieve.

Rather than being unsure or even frightened by adding diversity to discussions, we must learn to think on a higher plane and engage more conversations to enhance our mission of assisting qualified individuals and families in realizing the American Dream of home ownership.

-Kent Carter, 1st Capital Mortgage

COMMUNITY HEROES – GLENN NEMECEK

A couple of weeks ago I GOT to attend a memorial service for Glenn Nemecek.  Glenn was 89 years old when he died following years of struggles with his health.  Why is Glenn my first Community Hero?

Glenn and I attended church together for almost forty years.  He always greeted me with a smile and an encouraging word.  His quiet personality belied his passion for the important things in his life:  his faith, his family, O.U. athletics, and volunteering.

Glenn was a retired accountant who was cautious before he spoke, unless an O.U. athlete made a great play. Then his enthusiasm overcame his guarded ways.  His knowledge of the details of women’s basketball and softball kept those lucky enough to sit near him entertained and educated.

Once I was seated in the sanctuary for Glenn’s memorial service someone near me commented that the casket was a very unusual color.  I grinned and said, “Yes.  Crimson to honor his love of the Sooners.”  They acknowledged that made a lot of sense.

Glenn loved to volunteer his time for good causes.  He once received the “Volunteer of the Year” award from the Pioneer Library System. Devoting his time to various causes and events blessed the lives of many who enjoyed his eagerness to serve others.

I will miss witnessing how Glenn taught me to serve with a passion few possess.  I will remember my friend and look forward to joining him in celebration beyond the river.  Glenn Nemecek – my first Community Hero.

Mortgage Money - 3/4/19

MORTGAGE MONDAY

“Turning a boring topic into fun.”

March 4, 2019

Each Monday when there is real estate news to report, I will write a short commentary on my view of our market. Sometimes it will include other economic commentary. It is not designed to be political or promoting anything but the American Dream of Home Ownership.

National: The U.S. economy remains growing with inflation contained. The Federal Reserve which analyzes various economic indicators and sets short term interest rates held rates steady at their last meeting. Their statement following their meetings sent a strong signal no more increases in interest rates soon.

The economy is doing well in most areas. One troubling area which could affect real estate is the big drop in purchase activity in the three big states of California, Florida, and Texas. This is especially true in higher priced houses. Each of those states have had an affordability problem with previous jumps in home values.

Around most of the country decreases in home prices, a higher supply of homes on the market after several months of slow sales, and decreased interest rates should spur increased home sales this spring.

Local: The Kiplinger Letter surveyed home prices in the 100 largest metropolitan areas as of December 31, 2018. The Oklahoma City metropolitan area ranked in Category 1 for most affordable housing. Only ten cities nationwide were listed in the top category for affordability. This is one of the few markets where home ownership may be cheaper than renting.

Some sellers were frustrated in the fall when interest rates climbed from historical lows and sales slowed in our market. Those sellers may be anxious to make a sale. Our inventory of homes on the market is low. Interest rates are their lowest in about a year. Now may be the perfect time to go on an adventure of finding a house to turn into your home. Call me for your financing needs.