Chris Salese

I’m definitely not a cook or a chef or, for that matter, any use in the kitchen. There’s plenty of members in my household who will quickly and gladly confirm this to be the case.

However, I can absolutely prepare a delicious bowl of cereal without spilling much milk. In fact, I’m fairly competent at spreading butter on burnt toast as well.

Every so often, I add the right combination of cream and sugar in my morning coffee too.

It’s talents like these that have forced me to focus on other areas in my life, to embrace my strong points and to leave certain tasks to the professionals or folks who are simply trained or gifted to do things better than me.

Alright, here comes the transition.

Let’s use the most traditional centerpiece of the Thanksgiving holiday, which is, of course, the turkey, as a guide for the rest of this column.

After searching on Google, two of the most popular ways to cook a turkey are either slow roasted or deep fried.

Yes, there are loads of other techniques, but for the sake of where I’m going with all of this, please stay with me.

Typically, a slow-roasted bird takes longer to cook, whereas a deep fried one is ready more quickly. Either way, the preparation for each method can be simple or complex depending on your desired tastes, yet the critical element to its success is time.

Similar to the “Goldilocks” fairy tale, the turkey has to be cooked just right.

Well, guess what. Your home loan application these days needs to also be treated like your Thanksgiving holiday turkey.

As we approach the end of this year and peek into what may or may not happen next year with both property values and interest rates, you should be contacting your local Realtor and mortgage professionals now for their best recipes.

For example, if you are thinking of selling or buying a house, it seems as though current property values for some people might have been slow-roasted perfectly yet for others maybe they over-done a bit.

Conversely, after the Presidential election results, home loan rates have recently been quick to move up in a rather deep-fried fashion.

Perhaps long-term rates will recover some of their historic low magic again, although they appear destined to set a new normal going forward.

Short-term rates are probably the hardest to predict what the government plans to do with them. Akin to the extra parts to your turkey, you have them and you should use them responsibly.

As with almost everything in life, especially with the centerpiece of your Thanksgiving holiday, time can be your best friend or your worst enemy.

If you feel today’s property values and available interest rates “taste” good to you, then feast on them while you can. There are too many ingredients and steps to a successful loan application that if combined the wrong way, can significantly change the desired outcome.

Life happens only once, enjoy your bird.

Chris Salese can be reached at chris@delsurmortgage.com or 707-363-4439.

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