Jake Krabbe

NMLS# 877141

Mortgage Loan Officer

Jake Krabbe
Mortgage Loan Officer

NMLS# 877141
State Lic: AZ # 0920357;
15333 North Pima Road
Suite 205
Scottsdale, AZ 85260
Direct: (480) 442-9291
Fax: (480) 374-5216
Mobile: (480) 442-9291
jake.krabbe@academymortgage.com

Academy's My Mortgage App

Welcome to Academy Mortgage!

I'm available 24/7 for all of your mortgage needs. As a native Iowan, I base my career as a mortgage banker on customer service, hard work, and integrity. I moved to Arizona in the summer of 2010 and began my career with Academy in March 2012.

In my first year as a loan officer I was honored with the distinction of Rookie of the Year. I continued my dedication to the industry and was awarded to the Top Producers Club for 2013. With a Relatively short time in the business, I have emphasized helping families into new homes offering conventional, FHA, VA, and USDA loans. My focus on the customer experience has helped to grow my career and extend my network of realtors, home builders, title agencies, and over course satisfied home buyers.

Please don't hesitate to reach out to me with any questions regarding the mortgage process and I look forward to helping you find your next home.

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ARTICLES

Read these articles to educate yourself on the mortgage process and industry.
We used Academy Mortgage in the purchase of our new and awesome home. They were always available over email, phone, and text. At each step in the lending process they provided customized videos to guide us through everything. Home buying made easy!Kevin Williams

NMLS# 877141

State Lic: AZ: 0920357;

Corp Lic: AZ: BK-0904081;

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Predictions for the housing market in 2015

As the new year approaches, specific factors and trends may impact the market. Fortune indicates that new jobs, preferences of the new generation of homebuyers and population growth may control the 2015 housing market. In addition, changes to mortgage rates, home values and the number of housing starts and sales may determine how well the market performs in the upcoming year.

Millennials dictate the growth or decline of the market. Previously baby boomers were the largest generation to bolster the housing market. However, millennials are about to fill those shoes. The generation consists of those aged 18 to 34. The U.S. Census Bureau reported the presence of 73 million millennials in the U.S., which is the largest generation in three decades. 

Additionally, Fortune noted that this generation may look to purchase homes and begin their own families in the coming year. 

Jonathan Smoke, chief economist at realtor.com, relayed that in the next five years, millennials will be responsible for two-thirds of all new households and believed 2015 will be the year that this generation's presence will impact the housing market. 

In addition, Smoke indicated that the improving economy and job market may directly impact this generation more than any other demographic in the nation. The job growth that millennials benefit from proves to be 60% better than the rest of the country, according to Smoke. The improvements seen in the economy prompt this young generation to move into new homes, begin planning for a family of their own and serve as a propelling force for the U.S. housing market in future years.

However, Fortune also indicated that millennials may continue to be more interested in purchasing and building homes in less affordable areas in the U.S. In addition, these preferred regions pose problems for the construction of new homes. 

Mortgage rates and home sales and starts predicted to increase in 2015. Despite failing forecasts of lower home loan rates this year, economists insist 2015 will have higher rates for U.S. home mortgages. Many of the economists Fortune polled forecasted an average 5% rate for 30-year fixed mortgages by the end of 2015. 

Freddie Mac forecasted a more conservative rate of 4.6%for a 30-year FRMs

Additionally, Freddie Mac expects a jump in home starts and sales in 2015. The company anticipated a 20% leap in housing starts and a 5% increase in total home sales in the upcoming year.

With regard to housing starts, Freddie Mac proposed that these will primarily consist of single-family homes and rental apartment space.

Home values forecasted to continue growing. In the Fortune poll, nearly all economists agreed on home values' continual rise but forecasted that this would take place at a far slower pace. The rebound after the housing market crisis in 2008 propelled the rapid acceleration seen in years previous. Now, economists predict that the rebound may be losing steam.

The increase in home value paired with rising mortgage rates might contribute to lower affordability.

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2013 CoreLogic Marketrac Report. Visit www.academymortgage.com to find a loan, get a rate, or calculate your payment today.

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Some US home values overvalued and others undervalued

The values of homes in the U.S. are typically underappreciated by approximately 2%, according to Trulia, a real estate website. However, urban regions report home values that are too high and too low to their true values. 

Some homes remain undervalued. In October 2014, Trulia indicated that on a national level, U.S homes were 3% undervalued in the third quarter of 2014. However, some major cities move into double-digit percentages. This trend has continued as indicated by the latest report. Homes were undervalued by 2% in the fourth quarter of 2014.

Dayton, Ohio's, home prices were underappreciated by 21% in the second quarter of 2014, and this market's home prices were undervalued by only 17% in the fourth quarter of 2014. However, Cleveland was 19% below the normal market value in the second quarter of 2014 and dropped to 20% below normal in the fourth quarter of 2014.

Currently undervalued home prices are also located in Detroit; Akron, Ohio; and Lake County-Kenosha County, Illinois-Wisconsin.

Predominately Texas and California cities are overvalued. Austin, Texas; Los Angeles and Houston all landed top spots among the most over appreciated home values. 

"The most overvalued market is now Austin, at 16%, followed by Orange County and Los Angeles in Southern California," said Jed Kolko, Trulia' s chief economist. "Nine of the 100 largest metros are 10% or more overvalued."

Additional overvalued home prices were in Riverside-San Bernardino, California; Honolulu; and San Jose, California.

Trulia's Bubble Watch indicated low risk for the housing market. In Trulia's report, current conditions in the housing market appear better than any other time during its recovery from the downturn. 

"Even better, home prices may be leveling off in healthy territory - in other words, without the national housing market moving back into bubble range," said Kolko. 

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2013 CoreLogic Marketrac Report. Visit www.academymortgage.com to find a loan, get a rate, or calculate your payment today.

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Foreclosures continue to decline

The housing market continues to show signs of improvement into 2015. As the economy strengthens and Americans gain more financial stability, maintaining home ownership seems easier, and homeowners are less likely to foreclose. 

Number of repossessed homes fell last year. According to data released by RealtyTrac, a real estate information company,  foreclosure filings in 2014 dropped 18% from 2013 and 61% from 2010, when the foreclosure rate was at its highest point historically. In addition, 2014 proved to be the lowest number of foreclosure filings since in 2006.

The drops in filings appears to be additional evidence indicating an improving housing market, according to The Guardian. 

"Foreclosures are no longer a threat to home values nationwide," said RealtyTrac Vice President Daren Blomquist.

Some states saw an uptick in Real Estate Owned property in 2014. While nationally there was a dramatic drop in foreclosure filings, nine states saw an increase in REOs, according to RealtyTrac. Some states that saw more foreclosures included:

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2013 CoreLogic Marketrac Report. Visit www.academymortgage.com to find a loan, get a rate, or calculate your payment today.

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