Great news! The housing market is continuing to improve. The investors are willing to invest, the graduating college students are interested in buying, we just need people to sell. 1.5 million potential buyers in the market place need something to buy. If you or any of your contacts have been putting off selling, it is time to do your research and jump into the market again.
------------------------------------------------------------------------------
Housing's new twist-more bedrooms and less garage space designed toward multi generational households. Hispanics and Asians are more likely to form these households. -Regina Lewis, USA Today
------------------------------------------------------------------------------
HARP will be continued through 2014, but only loans backed by Fannie and Freddie will be refinanced. cmlynski@housingwire.com
----------------------------------------------------------------------------------
Growing demand and shrinking supply are fueling the housing industry. Remember those millennial's who graduated college and need homes.
-----------------------------------------------------------------------------
Facebook is trying to get into the local search business. For real estate this means that if you don't use Facebook to promote your company, you should. Something called Nearby is what Facebook is using. Look for search changes in 2013.
----------------------------------------------------------------------
Zillow expects home prices to rise 3.1% in 2013.
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S&P and Lender Processing Services say the housing market is up 4.3% year over year.
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Be consistent in your marketing and forward thinking.
sharexy
Monday, December 31, 2012
Sunday, December 30, 2012
Happy New Year
What did you do for someone else today? Tomorrow, what will someone be thankful for about you? When we do something for someone else just to get something for ourselves, everyone involved knows it is a selfish move. Someday when you are in need, if you have given without thought to self, others will give to you. If you think you will never be in need, you deceive yourself. There are different kinds of need. The death of a loved one, economic problems, ill health or being stranded at the side of the road in the middle of an ice storm are all times of need. What have you done for others who were or are in need?
Monday, December 24, 2012
Be thankful, but if you don't like it, change it.
BE THANKFUL, BUT IF YOU DON’T LIKE IT, CHANGE IT.
We have so much freedom in this country. If you don’t like something, you have the
ability to change it. Unlike what we
have heard from the media, there are plenty of jobs out there. If you don’t like your position, move to a
new one. If you don’t like your house,
change it. If you don’t have enough
money, you are free to earn more. Now,
you might need to do things outside your comfort zone to make these changes,
but doing something new will make you more valuable to others. You will have more skills and experiences. Recently I changed companies. I basically like the housing industry, but
construction was too hard on my body, architecture took too long to master at
my stage of life, so I settled on real estate.
But the companies I worked for were not on the same page with me. While I am not the social butterfly many
agents are, I was looking for a company that valued family life, fitness and
health, connecting with people and being at the cutting edge of the
industry. I found it. Now I have the training to find all the buyers
and sellers I could possibly want, meet all the movers and shakers I could possibly
desire and connect with others internationally.
I know you are curious as to which company met all these
requirements. I presently work at
RealEstateAuctions.com. I feel so blessed. You, too, can find the right place if you
want it badly enough. We have so much
freedom in this country and so many blessings, now step out of your comfort
zone and explore your world.
Here are some things to be thankful for:
High heating bills- I am thankful for being warm
High income tax-I am
able to make a large income
A husband who is
being a couch potato- he is home with me not out at the bars
A teenager who is
complaining about doing dishes- she is home with me not on the streets
Mess to clean after a
party-it means I have been surrounded by friends
Clothes that fit a
little too snug- I have enough to eat
All the complaining I
hear about the government- I have freedom of speech
The pile of laundry-
I have clothes to wear
Too many emails- I
have friends who are thinking of me
Merry Christmas and may you have a prosperous New Year.
Sunday, December 23, 2012
Be thankful
What would you have today if you only had what you were thankful for yesterday?
------------------------------------------------------------------
G-fees, charged by Fannie Mae and Freddie Mac will rise by 30-50 basis points which is triple what we had expected. This is suppose to encourage private capital to fund the mortgage market. There will be fewer re-fi's in 2013, but more purchases due to the milllennials' buying homes.
cmlynske@housingwire.com
-----------------------------------------------------------------------------
Remember 93% of millennials' still want to own their own homes. Market to them as well as to everyone else.
----------------------------------------------------------------------------
Dr Nouriel Roubini says there are still 2.2 million homes in shadow industry in the banks ready to be foreclosed on and more in the ready to make their way down the pipeline.
-----------------------------------------------------------------------
The president of Chemical Bank more than 100 years ago said, "The fear of God. You can have (that fear) or the socialization of risk, but not both." We now have the socialization of risk. We have lost the fear of God.
-------------------------------------------------------------------
TBSWDailyShow: There is a problem with short sales being reported as foreclosures. If you, or a client, go through a short sale, have the existing lender write a letter stating that you closed a short sale. If you experience this problem, go to the Consumer Financial Protection Bureau (CFPB) and file a complaint.
Mortgage rates will stay low until we reach 6.5% unemployment or 2.5% inflation. The powers that be, Barry Habib, say that we should keep the low interest rates until at least mid 2013 before these numbers are reached.
-----------------------------------------------------------------------
Cook County, Chicago, plans to take title to foreclosed, abandoned and vacant properties. What the article didn't say is after demolishing or repairing the properties, what will the county do with them? I have a problem with government taking possession of large quantities of property. Since governments don't create jobs or wealth, this looks like the county gov't of Cook County is removing the ability of the citizens to own the land. Don't know for sure, but would sure like to have more information.
-----------------------------------------------------------------
TBSWDailyShow?
The treasury is thinking about giving loan modifications on loans of up to 125% LTV that are current on their payments. The treasury would pay private loan holders who bought the loans from Fannie or Freddie, private loan servicers, but who haven't been giving loan modifications. This could help nearly 1 million home owners. Sounds very expensive. We, the citizens, would be the ones paying for this at a time when trillions of dollars of our debt is being held by China, India, Brazil and Japan. We would need to borrow more to pay for these loan modifications. Aren't we suppose to be cutting spending? The administration is afraid that the congress will do nothing to address the problem of perfectly performing loans. (?) We would be taking money from those who do not yet have mortgages to pay for those who are not behind on their loans. This sounds crazy to me. Does anyone in Washington understand what they are doing?
-----------------------------------------------------------------------
Home sales increased 16% over a year ago. This makes 10 months in a row of rising home prices. The median price for homes sold this November was $163,750, up nearly 4% from October and almost 7% from November 2011. Rising prices are due mostly to a dwindling inventory, as the average number of homes for sale is now 29% lower than last year.-Brad Finkelstein in Origination News
-----------------------------------------------------------------------
TBSWDailyShow:
71% of those looking for homes think the market will improve. Ask your clients what they think. Whether or not they believe the market is improving, show your clients what the market is doing to encourage them to buy now. Make a presentation of the numbers and experts' opinions to prove that the market is moving up. Lumber futures have risen to a 6-yr high. Show everyone that the market is improving, both buyers and sellers or those who should be.
-------------------------------------------------------------------------
The CFPB has been targeted by Sen. Issa as "potentially a aggressive and heavy handed regulator of financial products. This is when 30% of Americans do not have adequate access to traditional financial services and 50% of all Americans could not produce $2000 within 30 days for an emergency." Yet, the CFPB threatens to restrict financial access even further. The CFPB has increased the cost of consumer credit by $1.7 billion and has depressed job creation by 150,000 jobs. This bureau could have a chilling effect on lending and thereby diminishing credit access for eligible consumers. Banks are faulting the CFPB for reducing their ability to lend and small banks are disappearing. In 1997 there were 9,143, in 2012 there are 6,263. All this regulation is making business more difficult for small businesses, which means we will all be looking at doing business with mega businesses. This translates into higher prices in all areas. The CFPB is not required to consider how their policies will affect the public. They are on track to jeopardize a full economic recovery. This came out of the Dodd-Frank bill. The House of Representatives Committee on Oversite and Government Reform condemns the CFPB in a published report on 12/4/2012.
----------------------------------------------------------------
TBSWDailyShow
-------------------------------------------------------------
HousingWire Update
Slight uptick in delinquent mortgages. The rate is now 7.12%.
Home builders saw better results than expected in 2012, according to S&P. Sales volumes and average selling prices well exceeded what was expected by the ratings service, delivering nearly 20% more homes this year compared to 2011.
------------------------------------------------------------------
G-fees, charged by Fannie Mae and Freddie Mac will rise by 30-50 basis points which is triple what we had expected. This is suppose to encourage private capital to fund the mortgage market. There will be fewer re-fi's in 2013, but more purchases due to the milllennials' buying homes.
cmlynske@housingwire.com
-----------------------------------------------------------------------------
Remember 93% of millennials' still want to own their own homes. Market to them as well as to everyone else.
----------------------------------------------------------------------------
Dr Nouriel Roubini says there are still 2.2 million homes in shadow industry in the banks ready to be foreclosed on and more in the ready to make their way down the pipeline.
-----------------------------------------------------------------------
The president of Chemical Bank more than 100 years ago said, "The fear of God. You can have (that fear) or the socialization of risk, but not both." We now have the socialization of risk. We have lost the fear of God.
-------------------------------------------------------------------
TBSWDailyShow: There is a problem with short sales being reported as foreclosures. If you, or a client, go through a short sale, have the existing lender write a letter stating that you closed a short sale. If you experience this problem, go to the Consumer Financial Protection Bureau (CFPB) and file a complaint.
Mortgage rates will stay low until we reach 6.5% unemployment or 2.5% inflation. The powers that be, Barry Habib, say that we should keep the low interest rates until at least mid 2013 before these numbers are reached.
-----------------------------------------------------------------------
Cook County, Chicago, plans to take title to foreclosed, abandoned and vacant properties. What the article didn't say is after demolishing or repairing the properties, what will the county do with them? I have a problem with government taking possession of large quantities of property. Since governments don't create jobs or wealth, this looks like the county gov't of Cook County is removing the ability of the citizens to own the land. Don't know for sure, but would sure like to have more information.
-----------------------------------------------------------------
TBSWDailyShow?
The treasury is thinking about giving loan modifications on loans of up to 125% LTV that are current on their payments. The treasury would pay private loan holders who bought the loans from Fannie or Freddie, private loan servicers, but who haven't been giving loan modifications. This could help nearly 1 million home owners. Sounds very expensive. We, the citizens, would be the ones paying for this at a time when trillions of dollars of our debt is being held by China, India, Brazil and Japan. We would need to borrow more to pay for these loan modifications. Aren't we suppose to be cutting spending? The administration is afraid that the congress will do nothing to address the problem of perfectly performing loans. (?) We would be taking money from those who do not yet have mortgages to pay for those who are not behind on their loans. This sounds crazy to me. Does anyone in Washington understand what they are doing?
-----------------------------------------------------------------------
Home sales increased 16% over a year ago. This makes 10 months in a row of rising home prices. The median price for homes sold this November was $163,750, up nearly 4% from October and almost 7% from November 2011. Rising prices are due mostly to a dwindling inventory, as the average number of homes for sale is now 29% lower than last year.-Brad Finkelstein in Origination News
-----------------------------------------------------------------------
TBSWDailyShow:
71% of those looking for homes think the market will improve. Ask your clients what they think. Whether or not they believe the market is improving, show your clients what the market is doing to encourage them to buy now. Make a presentation of the numbers and experts' opinions to prove that the market is moving up. Lumber futures have risen to a 6-yr high. Show everyone that the market is improving, both buyers and sellers or those who should be.
-------------------------------------------------------------------------
The CFPB has been targeted by Sen. Issa as "potentially a aggressive and heavy handed regulator of financial products. This is when 30% of Americans do not have adequate access to traditional financial services and 50% of all Americans could not produce $2000 within 30 days for an emergency." Yet, the CFPB threatens to restrict financial access even further. The CFPB has increased the cost of consumer credit by $1.7 billion and has depressed job creation by 150,000 jobs. This bureau could have a chilling effect on lending and thereby diminishing credit access for eligible consumers. Banks are faulting the CFPB for reducing their ability to lend and small banks are disappearing. In 1997 there were 9,143, in 2012 there are 6,263. All this regulation is making business more difficult for small businesses, which means we will all be looking at doing business with mega businesses. This translates into higher prices in all areas. The CFPB is not required to consider how their policies will affect the public. They are on track to jeopardize a full economic recovery. This came out of the Dodd-Frank bill. The House of Representatives Committee on Oversite and Government Reform condemns the CFPB in a published report on 12/4/2012.
----------------------------------------------------------------
TBSWDailyShow
-------------------------------------------------------------
HousingWire Update
Slight uptick in delinquent mortgages. The rate is now 7.12%.
Home builders saw better results than expected in 2012, according to S&P. Sales volumes and average selling prices well exceeded what was expected by the ratings service, delivering nearly 20% more homes this year compared to 2011.
Wednesday, December 12, 2012
12 Tips from Gary Keller
TBSWDailyShow:
The 2007 Debt Relief Act will disappear with advent of the fiscal cliff. That means any relief from foreclosure, short sale or modification will be taxed. What about mortgage tax deductions? That too would disappear. But the number of buyers would be unaffected. That is because only 25% of the homeowners who can deduct their mortgage interest actually do. However, the rest of the items in the sequestration bill, such as higher tax rates and large spending cuts, will take effect and that will reduce the number of buyers. Capital gains taxes will go from 15%- 20%. And the FHA may still need a bailout, but will there be money to do that? However, remember that the FHA still has a bunch of money in an account that they don't count. If they did, they wouldn't need a bailout.
----------------------------------------------------------------
TBSWDailyShow:
Builders are lending and making really good profits. Pulte's revenues went up 70% in the 3rd quarter, 6x the revenues of sales. And they aren't the only ones.
----------------------------------------------------------------
Cmlynski@housingwire:
Robert Wentenhall of Royal Bank of Canada predicts more than one million in housing starts in the US in 2013. The reasons are low inventory, stable pricing and low interest rates. While the fiscal cliff looms, it is still better to own than to rent.
------------------------------------------------------------------
So far, while housing is starting to rebound, the government's jobs report hasn't found a rebound in construction jobs. That is because builders subcontract most of the work and most of the subcontractors are smaller and newer so are not yet reflected in the employment numbers.-Nin-Hai Tseng -CNN
------------------------------------------------------------------
What do you do with your past customers? Connect with them at least monthly to keep you in their minds and vise versa. Make a data base and send monthly or weekly newsletters. Maybe you know of something else that will allow you to connect with them on a regular basis. Use it!
-----------------------------------------------------------------
Home prices are expected to continue to rise due to investors. But as the investors continue to buy up blocks of properties, that will at some point reach a tipping point when the prices and investments even out. Then investors will reduce investing and prices will drop somewhat again. However, if underwriting standards remain at their present levels, that will discourage individual home buyers. Expect a 5% increase in home prices for the next year.-Keri Ann Panchuck in HousingWire
------------------------------------------------------------------
Mortgage rates are expected to remain below 4% for all of 2013, says Fannie Mae. Vacancy rates should fall to 2002 and 2003 levels for multi- and single family units.-mhopkins@housingwire.com.
-------------------------------------------------------------------
If the employment number are true for the 25-34 year olds, then we should see a growth in their housing purchases. Unemployment is at 7.9% right now, but was 9.2% last year.-Keri Ann Panchuck in HousingWire
--------------------------------------------------------------------
TBSWDailyShow:
12 Tips from Gary Keller of KellerWilliams:
1. Run toward the market
2. Do what you don't want to do for lead generation
3. The law of equilibrium-you should succeed just as well in down markets as in up markets because you are competing with fewer agents
4. Cut your expenses to the bone
5. Invest in your marketing needs to make your money (lead generations)
6. Get educated
7. Top agents focus on lead generation
8. Hard work on lead generation is more important than pure talent in sales
9. Prospecting works better than marketing
10. If you argue for your limitations, you get to keep your limitations
11. Have a capture strategy
12. Lead generation must be what you do first thing in the morning not last thing at night
------------------------------------------------------------------
From MoneyNews:
The Federal Reserve said on Wednesday it would keep interest rates near 0 until the unemployment rate is at 6.5%. But this will hold only if inflation is projected to stay below 2.5% one to two years in the future. It will also continue printing money.
----------------------------------------------------------------------
TBSWDailyShow:
FHA loan limits for all areas-https://entp.hud.gov/idapp/html/hicostlook.cfm
--------------------------------------------------------------------
U.S. bank repossessions grew 11% from October and 5% from last year.-Keri Ann Panchuck in HousingWire
-------------------------------------------------------------------
Check out our website- RealEstateAuctions.com.
The 2007 Debt Relief Act will disappear with advent of the fiscal cliff. That means any relief from foreclosure, short sale or modification will be taxed. What about mortgage tax deductions? That too would disappear. But the number of buyers would be unaffected. That is because only 25% of the homeowners who can deduct their mortgage interest actually do. However, the rest of the items in the sequestration bill, such as higher tax rates and large spending cuts, will take effect and that will reduce the number of buyers. Capital gains taxes will go from 15%- 20%. And the FHA may still need a bailout, but will there be money to do that? However, remember that the FHA still has a bunch of money in an account that they don't count. If they did, they wouldn't need a bailout.
----------------------------------------------------------------
TBSWDailyShow:
Builders are lending and making really good profits. Pulte's revenues went up 70% in the 3rd quarter, 6x the revenues of sales. And they aren't the only ones.
----------------------------------------------------------------
Cmlynski@housingwire:
Robert Wentenhall of Royal Bank of Canada predicts more than one million in housing starts in the US in 2013. The reasons are low inventory, stable pricing and low interest rates. While the fiscal cliff looms, it is still better to own than to rent.
------------------------------------------------------------------
So far, while housing is starting to rebound, the government's jobs report hasn't found a rebound in construction jobs. That is because builders subcontract most of the work and most of the subcontractors are smaller and newer so are not yet reflected in the employment numbers.-Nin-Hai Tseng -CNN
------------------------------------------------------------------
What do you do with your past customers? Connect with them at least monthly to keep you in their minds and vise versa. Make a data base and send monthly or weekly newsletters. Maybe you know of something else that will allow you to connect with them on a regular basis. Use it!
-----------------------------------------------------------------
Home prices are expected to continue to rise due to investors. But as the investors continue to buy up blocks of properties, that will at some point reach a tipping point when the prices and investments even out. Then investors will reduce investing and prices will drop somewhat again. However, if underwriting standards remain at their present levels, that will discourage individual home buyers. Expect a 5% increase in home prices for the next year.-Keri Ann Panchuck in HousingWire
------------------------------------------------------------------
Mortgage rates are expected to remain below 4% for all of 2013, says Fannie Mae. Vacancy rates should fall to 2002 and 2003 levels for multi- and single family units.-mhopkins@housingwire.com.
-------------------------------------------------------------------
If the employment number are true for the 25-34 year olds, then we should see a growth in their housing purchases. Unemployment is at 7.9% right now, but was 9.2% last year.-Keri Ann Panchuck in HousingWire
--------------------------------------------------------------------
TBSWDailyShow:
12 Tips from Gary Keller of KellerWilliams:
1. Run toward the market
2. Do what you don't want to do for lead generation
3. The law of equilibrium-you should succeed just as well in down markets as in up markets because you are competing with fewer agents
4. Cut your expenses to the bone
5. Invest in your marketing needs to make your money (lead generations)
6. Get educated
7. Top agents focus on lead generation
8. Hard work on lead generation is more important than pure talent in sales
9. Prospecting works better than marketing
10. If you argue for your limitations, you get to keep your limitations
11. Have a capture strategy
12. Lead generation must be what you do first thing in the morning not last thing at night
------------------------------------------------------------------
From MoneyNews:
The Federal Reserve said on Wednesday it would keep interest rates near 0 until the unemployment rate is at 6.5%. But this will hold only if inflation is projected to stay below 2.5% one to two years in the future. It will also continue printing money.
----------------------------------------------------------------------
TBSWDailyShow:
FHA loan limits for all areas-https://entp.hud.gov/idapp/html/hicostlook.cfm
--------------------------------------------------------------------
U.S. bank repossessions grew 11% from October and 5% from last year.-Keri Ann Panchuck in HousingWire
-------------------------------------------------------------------
Check out our website- RealEstateAuctions.com.
Wednesday, December 5, 2012
Selling properties
For those who are trying to sell anything, if you had a million or billion dollar client, how would you treat them? Would you return their phone calls and emails? Would you take as much time with them as they wanted in order to make them feel comfortable? You never know who will create this kind of large sale. It could be the little old lady who can't hear very well, but has numerous properties with which she needs help. It could be the guy in the ratty, old pickup who owns hundreds of acres or several businesses. It could be the naive 20 something who has wealthy, doting relatives and doesn't know how to express him or herself. Until you spend time with the people, whether on the phone or face to face, you don't know what their situation is. If you blow off the unassuming or get annoyed with the annoying people, you may be shooting yourself in the foot. As my favorite mortgage loan guys said on TBSWDailyShow:
Thomas Edison said, "Genius is 1% inspiration and 99% perspiration. Do you have an active plan for growing your business? Samuel Goldwyn said, "The harder I work the luckier I get". Babe Ruth, "It's hard to beat a person who never gives up". Gary Keller, "One scoop of talent is not as valuable as 10 scoops of tenacity". What are you going to do about your business this next year? Make a plan and stick to it. No matter how good you are at the paperwork in your business, without converting prospects to clients, your income is lower. Never delegate your lead generation activities. Marketing ideas are like diets. Which one works? All of them do if you just do it.
So remember, all people are valuable. It is your responsibility to take the time to find out which ones are mutually beneficial. And it may be in ways you don't even imagine.
---------------------------------------------------------------------
Foreclosure starts dropped dramatically starting in September when the first of the 14 day notices in writing were sent as required by the National Mortgage Settlement. These notices are now required prior to referring a loan to foreclosure. This does not mean foreclosures are permanently down.-Kerri Panchuck in HousingWire.
--------------------------------------------------------------------
1 in 3 people say they would be open to getting home mortgage loans at Walmart according to a Carlyle and Gallagher Consulting Group survey. And almost 1/2 would consider getting one from PayPal. Costco already gives mortgages.
-----------------------------------------------------------------------
Progressives are now pushing for a financial transaction tax. George Soros is for it. Therefore, I must be against it!
-----------------------------------------------------------------------
G-fees (guaranty fees) will be increasing nationally, per FHFA. The bill has passed the House of Reps. However, five states will also be increasing their fees Connecticut, Florida, Illinois, New Jersey and New York. This is to cover the longer mortgage default processes.
---------------------------------------------------------------------
"If you argue for your limitations, you will keep them." Gary Keller
-----------------------------------------------------------------------
FHA will sell 40,000 distressed home loans next year. There will be 10,000- 15000 loans sold in the first quarter. They will mainly be in CA, GA, FL, OH. -CMlynski@housingwire.com
Thomas Edison said, "Genius is 1% inspiration and 99% perspiration. Do you have an active plan for growing your business? Samuel Goldwyn said, "The harder I work the luckier I get". Babe Ruth, "It's hard to beat a person who never gives up". Gary Keller, "One scoop of talent is not as valuable as 10 scoops of tenacity". What are you going to do about your business this next year? Make a plan and stick to it. No matter how good you are at the paperwork in your business, without converting prospects to clients, your income is lower. Never delegate your lead generation activities. Marketing ideas are like diets. Which one works? All of them do if you just do it.
So remember, all people are valuable. It is your responsibility to take the time to find out which ones are mutually beneficial. And it may be in ways you don't even imagine.
---------------------------------------------------------------------
Foreclosure starts dropped dramatically starting in September when the first of the 14 day notices in writing were sent as required by the National Mortgage Settlement. These notices are now required prior to referring a loan to foreclosure. This does not mean foreclosures are permanently down.-Kerri Panchuck in HousingWire.
--------------------------------------------------------------------
1 in 3 people say they would be open to getting home mortgage loans at Walmart according to a Carlyle and Gallagher Consulting Group survey. And almost 1/2 would consider getting one from PayPal. Costco already gives mortgages.
-----------------------------------------------------------------------
Progressives are now pushing for a financial transaction tax. George Soros is for it. Therefore, I must be against it!
-----------------------------------------------------------------------
G-fees (guaranty fees) will be increasing nationally, per FHFA. The bill has passed the House of Reps. However, five states will also be increasing their fees Connecticut, Florida, Illinois, New Jersey and New York. This is to cover the longer mortgage default processes.
---------------------------------------------------------------------
"If you argue for your limitations, you will keep them." Gary Keller
-----------------------------------------------------------------------
FHA will sell 40,000 distressed home loans next year. There will be 10,000- 15000 loans sold in the first quarter. They will mainly be in CA, GA, FL, OH. -CMlynski@housingwire.com
Low income households and housing prices
Low income households are not going into debt with home mortgages or home equity. In a normal economy, as borrowing drops, interest rates drop then other parts of the economy pick up the slack in borrowing and the interest rates rise. This time low income households are borrowing for autos and credit cards, but not homes. Not enough of the rest of the higher income households are acquiring mortgages to off set the lack of borrowing of the least wealthy. Therefore, the housing and economic rebound will be slow.-Keri Panchuck in HousingWire.
-----------------------------------------------------------------
Kerri Panchuck also reports: Fannie Mae and Freddie Mac still owe the American public $140 billlion dollars. The Republicans are not addressing the problem, they are looking to do away with the GSE's and ignore the debt. The Democrats are just plain silent. Even the opinions of the stockholders and preferred shareholders are inconsequential.
-----------------------------------------------------------------
"A piece of legislation passed the New Jersey Senate that could financially penalize financial firms for failing to maintain vacant, foreclosed homes. The bill has to go through the state Assembly before it has a chance to become law, according to New Jersey.com."-Kerri Panchuck in Morning Radar.
-------------------------------------------------------------------
TBSWDailyShow says: The mortgage deduction has been around for 100 yrs. Lawrence Yun, the NAR chief economist says, loosing the mortgage deduction would lead to a 15% loss in total home equity, a loss of 250K-350k jobs and would slow sales 10%-15%.
Active prospecting works better than passive marketing. Get over the possible rejection. Call and meet face to face with people. Prospects are less likely to blow you off if the your contact is personal. Actively seek out buyers and sellers. Call prospective buyers and For Sale By Owners and your referral data base. You know this, but are you doing it?
------------------------------------------------------------------
QE3 is the Treasury Department's way of bolstering our economy. This means the US government is expected to continue to buy longer term Treasury bonds and mortgage backed securities. This is what printing money means in practical terms. But since 50% of all re-fied distressed mortgages go back into distress, the Federal Gov't is throwing money down a rat hole. That is our money, the citizens of these United States money, which is being wasted.
------------------------------------------------------------------
From TBWSDailyShow:
Thomas Eddison said, "Genius is 1% inspiration and 99% perspiration. Do you have an active plan for growing your business? Samuel Goldwyn said, "The harder I work the luckier I get". Babe Ruth, "It's hard to beat a person who never gives up". Gary Keller, "One scoop of talent is not as valuable as 10 scoops of tenacity". What are you going to do about your business this next year. Make a plan and stick to it. No matter how good you are at the paperwork in your business, without converting prospects to clients, your income is lower. Never delegate your lead generation activities. Marketing ideas are like diets. Which one works? All of them do, if you just do it. Every dollar you spend on your business, must generate a return. For example, if you spend a dollar in print marketing, it must generate a dollar plus some. So, how do you increase your rate of return? Spend more personal time with prospects and clients. If you are spending $5000 in print marketing, it should return $20k-$30k in closed business.
--------------------------------------------------------------------
TBSWDailyShow:
The number of first time homebuyers has dropped to the 2009 level. This means there are fewer buyers for the starter homes. Who then is buying the starter homes? Investors. What is the reason for the drop in first time home buyers? The FHA has tightened up its requirements. Most first time homebuyers use FHA. And has raised the price of mortgage insurance. Without the first time buyers, there will be fewer move up buyers in the future.
-----------------------------------------------------------------
Nationwide, housing prices are up 3.6% in the 3rd quarter over last year. Phoenix was up 20.6% and Atlanta finally reversed its price decline with a 0.1% price rise. Home prices rose in 17 of the 20 cities surveyed.-Kerri Ann Panchuck in HousingWire
-----------------------------------------------------------------
Housing Market Index-An index of over 300 home builders, which shows the demand for new homes. The index runs from 0-100, so a rating of 50 would mean that demand for new homes was average.
Read more: http://www.investopedia.com/terms/h/housingmarketindex.asp#ixzz2DjrOJdOh
The housing market index is at 46 up from 41 in October which is the highest since 2006. This is due to homebuilder's confidence.-cmlynski in HousingWire. But with superstorm Sandy requiring a surge in home building, what is the truth? What would the numbers be without that natural disaster?
----------------------------------------------------------------
FHA is raising the mortgage insurance rates and g-fees next year. Also, FHA's mortgage insurance premiums, starting next year sometime, will be for life. Even if you, homeowner, have paid off 78% of your loan, you will be stuck with the PMI unless you refinance to a higher rate mortgage interest rate. So, buy now!
-----------------------------------------------------------------
Kerri Panchuck also reports: Fannie Mae and Freddie Mac still owe the American public $140 billlion dollars. The Republicans are not addressing the problem, they are looking to do away with the GSE's and ignore the debt. The Democrats are just plain silent. Even the opinions of the stockholders and preferred shareholders are inconsequential.
-----------------------------------------------------------------
"A piece of legislation passed the New Jersey Senate that could financially penalize financial firms for failing to maintain vacant, foreclosed homes. The bill has to go through the state Assembly before it has a chance to become law, according to New Jersey.com."-Kerri Panchuck in Morning Radar.
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TBSWDailyShow says: The mortgage deduction has been around for 100 yrs. Lawrence Yun, the NAR chief economist says, loosing the mortgage deduction would lead to a 15% loss in total home equity, a loss of 250K-350k jobs and would slow sales 10%-15%.
Active prospecting works better than passive marketing. Get over the possible rejection. Call and meet face to face with people. Prospects are less likely to blow you off if the your contact is personal. Actively seek out buyers and sellers. Call prospective buyers and For Sale By Owners and your referral data base. You know this, but are you doing it?
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QE3 is the Treasury Department's way of bolstering our economy. This means the US government is expected to continue to buy longer term Treasury bonds and mortgage backed securities. This is what printing money means in practical terms. But since 50% of all re-fied distressed mortgages go back into distress, the Federal Gov't is throwing money down a rat hole. That is our money, the citizens of these United States money, which is being wasted.
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From TBWSDailyShow:
Thomas Eddison said, "Genius is 1% inspiration and 99% perspiration. Do you have an active plan for growing your business? Samuel Goldwyn said, "The harder I work the luckier I get". Babe Ruth, "It's hard to beat a person who never gives up". Gary Keller, "One scoop of talent is not as valuable as 10 scoops of tenacity". What are you going to do about your business this next year. Make a plan and stick to it. No matter how good you are at the paperwork in your business, without converting prospects to clients, your income is lower. Never delegate your lead generation activities. Marketing ideas are like diets. Which one works? All of them do, if you just do it. Every dollar you spend on your business, must generate a return. For example, if you spend a dollar in print marketing, it must generate a dollar plus some. So, how do you increase your rate of return? Spend more personal time with prospects and clients. If you are spending $5000 in print marketing, it should return $20k-$30k in closed business.
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TBSWDailyShow:
The number of first time homebuyers has dropped to the 2009 level. This means there are fewer buyers for the starter homes. Who then is buying the starter homes? Investors. What is the reason for the drop in first time home buyers? The FHA has tightened up its requirements. Most first time homebuyers use FHA. And has raised the price of mortgage insurance. Without the first time buyers, there will be fewer move up buyers in the future.
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Nationwide, housing prices are up 3.6% in the 3rd quarter over last year. Phoenix was up 20.6% and Atlanta finally reversed its price decline with a 0.1% price rise. Home prices rose in 17 of the 20 cities surveyed.-Kerri Ann Panchuck in HousingWire
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Housing Market Index-An index of over 300 home builders, which shows the demand for new homes. The index runs from 0-100, so a rating of 50 would mean that demand for new homes was average.
Read more: http://www.investopedia.com/terms/h/housingmarketindex.asp#ixzz2DjrOJdOh
The housing market index is at 46 up from 41 in October which is the highest since 2006. This is due to homebuilder's confidence.-cmlynski in HousingWire. But with superstorm Sandy requiring a surge in home building, what is the truth? What would the numbers be without that natural disaster?
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FHA is raising the mortgage insurance rates and g-fees next year. Also, FHA's mortgage insurance premiums, starting next year sometime, will be for life. Even if you, homeowner, have paid off 78% of your loan, you will be stuck with the PMI unless you refinance to a higher rate mortgage interest rate. So, buy now!
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