Solano County Listings: Homes for sale

LOTS & LAND

From Page 4 to disclosures in an attempt to make parties understand where the Realtor’s job ends. The problem with this approach is that it continually adds paper full of fine print to the already massive amount of paper that’s involved in a real estate sale. The result is that everybody knows that no one reads everything and the law, more or less, gives consumers (buyers and sellers) a pass for not reading “the fine print.”

So until there is a more comprehensive legal scheme that limits a Realtor’s job to specific responsibilities, occasionally defending yourself in court will continue to be an unfortunate cost of doing business.

Tim Jones is a real estate attorney in Fairfield. If you have any real estate questions you would like to have answered in this column, you can send an email to AllThingsRealEstate@TJones-Law.com.

From Page 5 them our money at a safe low rate and then they invest this dough in incomeproducing hard assets like real estate, mortgages, stocks and bonds and get a higher rate of return than they pay us.

If you were to invest $1,000 per month today at 4% compounded monthly, you would have $967,000 in 36 years; at 8% you would have $2.5 million and at 12%, $7.3 million.

Net interest margin is the talk of the town on Wall Street lately with a couple of regional banks in a ton of hot water because of what they call a “run on the

MOBILE/FLOATING

MULTI UNIT 2-4

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bank” and poor net interest margins.

Silicon Valley Bank bought a bunch of bonds and mortgage-backed securities from 2019 to 2022 with yields below 4%, and with competitors now offering 4% CDs and the U.S. government selling six-month T-bills at 4% to 5%, SVB couldn’t afford to offer competitive rates to their depositors and so folks ran to their SVB bank teller and said, “Sorry, I want the money I loaned you back right now because I can lend this money out to others and get a better rate.”

SVB has also suffered because the IPO market has dried up this past 15 months, so loan fee volume is down and, like the residential mortgage business, refinancing is dead across the country because most people and busi- nesses refinanced their loans at low rates in 2020 and 2021 and have no need to refinance today.

The key point of this week’s column is for my adult kids, clients, readers and young people I work with in real estate to invest in income-producing assets and be an owner and not a loaner for your long-term investments.

Jim Porter, NMLS No. 276412, is the branch manager and senior loan adviser of Solano Mortgage, NMLS No. 1515497, a division of American Pacific Mortgage Corporation, NMLS No. 1850, licensed in California by the Department of Financial Protection and Innovation under the CRMLA / Equal Housing Opportunity. Jim can be reached at 707-449-4777.