Jamie Frampton

noreply@blogger.com (Jamie Frampton) — Thu, 02 Aug 2007 16:13:00 +0000

Exterior Paint Tips
Summer is an excellent time for clients to paint their homes. The hot weather ensures faster drying times and minimizes weather-related complications and delays. Here are some good tips for your customers:

1-Inspect the exterior. Before painting, check for bad patches, stains or rot. Damaged wood siding or trim could indicate water damage. Repair the damage and find the problem's source. It could be a small roof leak, or poorly sealed surface or joint somewhere in the structure. You can't fix problems by painting them.
2-Pick the right color. A home's color can influence its property value, as well as the neighbors'. Go with shades of white, gray, beige or tan, and limit any stronger colors to shutters, trim and other features. (Keep them complementary.) Moreover, the home's style, local code and association covenants, conditions and restrictions can dictate the color palette.
3-Test some samples. Before diving in, apply some test patches of various shades to less conspicuous parts of the home. See how they look after they dry. See which colors best complement one another, and how they look against the other colors in the yard and in the neighborhood.
4-Interview contractors. Ask neighbors with recently painted homes for referrals. Get quotes from multiple contractors and ask them for referral customers, as well. Ensure contractors are properly insured and licensed.
5-Get a group discount. Canvas the neighborhood for other homeowners who want to repaint their homes. Pooling together creates bargaining power that will attract painters and force them to offer group discounts. Besides, clients can share ideas and make new friends.

noreply@blogger.com (Jamie Frampton) — Wed, 01 Aug 2007 15:12:00 +0000

Build Business by Rewarding Customers
A token of appreciation or special attention can go a long way in building your business. Here are some ideas for generating referrals by rewarding your customers:
1-Simple gift-giving as a token of your appreciation can spur customers to refer your business. Consider two different levels of gifts: one for the first-time referrer and one for your brand advocates. For one-time referrers offer movie tickets, free car washes or Starbucks cards. For those customers who continually tout your service or product, consider dinner for two, a fruit basket or a gift card.
2-Consider a referral reward system, which offers your customers points based on referrals and results. For example, offer two points for each referral and 10 points if the referral purchases something. The more points they collect, the larger the award they can claim.
3-Start a VIP referral program that extends exclusive invitations to people referred by your established customers. Make these newcomers feel special by offering exclusive discounts or private product showings. The referred customers will be impressed by the treatment and your advocates will be pleased they made the referral.

Finally, most customers won't go looking for your referral program. You have to tell them about it. Also, make your program enticing by making it friendly, simple and rewarding.

noreply@blogger.com (Jamie Frampton) — Wed, 25 Jul 2007 23:02:00 +0000

How to Write a Joint Business Plan with another person or business
When partnering with another business or person, it's important to draw up a joint business and marketing strategy.

Here are some tips to help you co-draft your strategic marketing plan.
1-Have a joint objective. Map out your mutual goals together. Is this person/company the right model match with your business strategy? Are you partnering to gain referrals? Is your goal to provide additional services to new or existing clients? Outline what makes the partnership unique from your competition.
2-Refine your strategy. Determine how working with this person or company will help you achieve your planning goals. Outline responsibilities and timelines. For example, if your marketing strategy includes mailings, who will design them, who will pay for postage and when will it be mailed?
3-Define your marketing methods. There are several ways to market your partnership. Decide which advertising methods will work best to achieve your goals. You and your partner can send mass e-mails to existing clients; address a direct mailing to a targeted and untapped client base; create a print ad campaign; or hold joint seminars. Whichever method you and your partner choose, ensure that the marketing material stresses the strengths of your partnership and its benefits. Performance Indicators. Set a timeline for your goals and criteria for measuring success. Perhaps it is as simple as keeping a computer log of new clients obtained through the partnership or advertising campaign. Set a time for a review each quarter and adjust your joint business plan accordingly.

noreply@blogger.com (Jamie Frampton) — Thu, 12 Jul 2007 15:14:00 +0000

Today's home sellers need more guidance than ever before, especially since many are unwilling to face the reality of falling property values in many communities across the nation. Here are some tips for helping your sellers succeed in today's market:

1-For customers with an over-inflated estimate of their home's value, begin your price discussion by listing items that don't always determine property value:
-Homeowners' paid price
-Amount owed on the house
-Money needed to buy the next home
-Neighbor's estimate of house value
-Money invested in improvements
-Appraisal for last refinancing
-Price a neighbor's home sold for last year
-Suggestions from Internet sites, such as Zillow.com

2-Ask your sellers how they see their real estate market going forward. In today's market, most will say they see it getting slower. Then, ask your clients what they're prepared to do, and give them the following choices:
-Price your home at the top of the market and chase it down?
-Price your home aggressively and have the opportunity for buyers to bid it up and sell it quickly?
-Lease it out and carry the negative?

3-Produce very detailed prior-sales information that will give sellers a realistic picture of recent neighborhood home sales. Stress that this objective data is a good indicator of what the market will bear for your sellers' homes.

4-Clip local newspaper and magazine articles that talk about local market changes. Make copies and hand them to your sellers, and remind them that savvy buyers are reading the same stories.

These are just a few of the things that we thought would help with the changing market.

noreply@blogger.com (Jamie Frampton) — Fri, 06 Jul 2007 15:43:00 +0000

How to Be a Good Business Partner
Any business partnership can see big results with a little work and attention. Whether you are partnering with a financial advisor or a divorce attorney to expand your consumer base, it's always beneficial to support your team with healthy partnership skills.

Here are some tips to positively impact your business partnership:
1-Communication: Always keep the lines of communication open. Promptly return all phone calls and e-mails. Consider inviting your partner out for coffee, lunch, or a game of golf on a monthly or bi-monthly basis to collaborate on selling ideas. Be sure to let your partner know that you are always available for business discussions.
2-Honesty and Trust: Trust takes time to build. At the start of a business partnership, take time to get to know your partner. What are your partner's business goals? What are their strengths and weaknesses? Speak openly and honestly about yourself.
3-Respect: Always be respectful of your partner's ideas. Listen when they speak, look them in the eye, and always take their opinions seriously. Provide constructive criticism, even if you don't necessarily agree, and provide praise for good ideas.
4-Tolerance: Everyone makes mistakes and there are appropriate ways to deal with them. If for example, your partner provides the wrong information to a client, constructively relay the error to the partner and politely request that more care be taken in the future. Always be ready and willing to apologize when you are in the wrong.

With these simple tips you'll start every new relationship off right – ensuring that both parties benefit from a long and fruitful business partnership.

We are very excited to work with new referral sources. Do you know anyone that would benefit from working with Brian and I-please have them give us a call or give us their name and number.

Remember: If you or anyone that you may hear of is looking to do any financing concerning their home whether it is refinancing, tapping into their equity or even purchasing that first second or third home Brian and Jamie Frampton (The Frampton Team) at Mortgage Team 1, Inc. is here for you. Brian's cell 251-680-5010 Jamie's cell 251-709-1010 or toll free 866-684-8326.

noreply@blogger.com (Jamie Frampton) — Thu, 28 Jun 2007 14:33:00 +0000

Your most precious resource is your time. It is time to reclaim YOUR TIME!!!

Brian and I really strive each day week and month to continue implementing the following steps and disciplines in our life. I thought that as your individual businesses grow you may find like I did that you continue to run out of time on more occasions. You find yourself left with these lingering tasks that start to control you instead of you controlling them. Try this for 30 days I swear your life will improve:

1-Outline your phone calls to minimize chit-chat, skip writing emails when a quick call will do, set personal time limits for conversations, and have an assistant sort your lower-priority communications.
2-Stifle personal procrastination, tackle difficult tasks when you have the most energy and adopt a "just do it" philosophy. Focus on results rather than activities. Avoid wasting the first hour of each day browsing email or hobnobbing with coworkers. (This is the hardest for Brian and I - we love our co-workers, but we must remember that commodity that we cannot have more of is our time-use it wisely.)
3-Keep a daily "action diary" and manage your work. Take 20 minutes to 30 minutes each Monday to plan the week, and finish each day by taking 10 minutes to map the next day's to-dos. Instead of multitasking, practice spotlighting by intensely focusing on singular tasks that move a project toward completion.

Remember: If you or anyone that you may hear of is looking to do any financing concerning their home whether it is refinancing, tapping into their equity or even purchasing that first second or third home Brian and Jamie Frampton (The Frampton Team) at Mortgage Team 1, Inc. is here for you. Brian's cell 251-680-5010 Jamie's cell 251-709-1010 or toll free 866-684-8326.

noreply@blogger.com (Jamie Frampton) — Wed, 27 Jun 2007 23:47:00 +0000

Construction of new homes in May fell to a seasonally adjusted annual rate of 1.47 million units, a 2.1% drop from April and a 24.2% decline from a year ago, the Commerce Department reported June 19. The decrease matched economists' expectations, and reflected weakness in the South and West, which offset construction gains made in the Northeast and Midwest.
Housing permits, considered a good barometer of future activity, rose 3% in May, but the increase followed a 7.1% plunge in April. Last month's stronger activity originated from a rebound in permits for apartment construction. Meanwhile, mortgage applications for single-family homes fell 1.8% and have been down four of the past five months.
The National Association of Home Builders reported on June 19 that its survey of builder sentiment sank two points to 28 in June, the lowest since it hit 27 in February of 1991. Readings below 50 mean more builders view market conditions as poor rather than favorable. All three major components of the index -- sales, sales expectations and buyer traffic -- posted declines.
Rates on 30-year mortgages, after rising for five straight weeks, edged down slightly for the week. Rates have been pressured by rising yields on the benchmark 10-year Treasury note.
For the week ended June 15, unemployment claims rose by 10,000, to 324,000, the highest level since mid-April. While the increase was unexpected, analysts said the labor market remained strong.

noreply@blogger.com (Jamie Frampton) — Thu, 14 Jun 2007 19:19:00 +0000

I was trying to think of ways to help my fellow Realtor friends sell more houses. Here are a few of the ideas that I thought may work:

Hold a sneak preview before an open house. Create invitations and pass them out to neighbors surrounding the open house. Tell them they're invited to a private showing of the property before the house is listed on the Multiple Listing Service (MLS). This gives you exposure to the neighbors, more insight into the neighborhood and the people living there, and the ability to let the neighbors pick the next buyer by referring someone.
Share your success stories. Along with "just sold" and "just listed" announcements, make sure you communicate success stories with your sphere of influence. Tell clients about customers who told you they could never buy a house and how you helped them achieve that goal. Ask your sphere if they know anybody in the same position whom you can help.
Target condominium owners. Create a communication that targets the benefits of upgrading from a condo to a house. Tactfully express some of the inconveniences of condo living, such as high association dues, shared walls and fences, and lines to use the washing machine, found in older and apartment-turned-condo units.
Target For Sale by Owner (FSBO) homesellers. Top-producing agents try to convert FSBOs into listings. Call to set an appointment to view the property for your clients; don't try to sell FSBO homesellers your services over the phone. After your preview, ask the owner for 15 minutes to discuss the possibility of your getting them more money than what they're asking and whether you think you can sell the home faster.

If you or anyone that you know is looking for a great mortgage professional for refinancing or purchasing please have them call Brian or Jamie Frampton at Mortgage Team 1, Inc. You can reach Brian at 251-445-2070 or Jamie at 251-445-2080.

noreply@blogger.com (Jamie Frampton) — Wed, 13 Jun 2007 15:16:00 +0000

Last week was dull in terms of economic indicators, but the global market developments made it very exciting for those that follow financial news closely. Maybe I should say “painful” rather than “exciting” when referring to the bond market freefall from last Thursday. This was the biggest weekly decline for the long end of the bond market since 2004. As a result of the sell-off, the yield on the 10-yr Treasury ended the week 21 basis points higher, which immediately reflected on mortgage rates. The average 30-yr mortgage rate is currently on the rise.

The real story that should be scaring the market is not the housing market alone, but also the fact that inflation fears are preventing the Fed from taking any action to save the economy from a hard landing before it’s too late. The Fed can neither cut rates nor increase them, yet it needs to do both. The decision makers are paralyzed between rising inflation on the one hand and a deteriorating economy on the other, and are therefore doing nothing but “sitting on their hands”. Chairman Bernanke acknowledged that the housing market may get worse before it gets better, but still remains caught in a “Catch 22” trap.

As sellers continue to drop their prices to move inventory, and with interest rates beginning to show slight upward movement, now is a great time to secure financing. Staying informed of movement in the financial markets and having the assistance of a professional mortgage consultant will enable you to take full advantage of the mortgage market. Please give Brian or Jamie a call to see how much of a home you can buy! You can reach Brian on his cell phone at 251-680-5010 or Jamie on hers at 251-709-1010. We look forward to serving you.

noreply@blogger.com (Jamie Frampton) — Thu, 07 Jun 2007 15:29:00 +0000

Brian and I would like to share this update on AmeriDream regarding downpayment assistance programs:
1. AmeriDream, Inc. To date, AmeriDream remains a 501(c)(3) tax exempt charity and an allowable source of down payment gift funds to homebuyers using FHA. See AmeriDream Certification for lenders. AmeriDream differs from many organizations that provide Down Payment Assistance, by structure, governance, operations. In addition AmeriDream is one of the few organizations that have charitable programs in addition to its Down Payment Assistance Program. For many years, as far back as 2003, AmeriDream voluntarily sought IRS guidance (well before any IRS announcement regarding DPA). Additionally, AmeriDream has and continues to make voluntary changes, to further comply with the IRS opinion expressed in Revenue Ruling 2006-27.
2. IRS Bulletin 2007-23 The HUD site shows no new revocations have been taken as of this morning.
3. Buyers Fund/Neighborhood Gold Decides to Discontinue its Down payment Assistance Program Effective July 3, 2007

While the Buyers Fund has decided to voluntarily discontinue its DPA program, it claims that it will retain its 501(c)(3) tax exemption status.

Brian and I are commited to making sure that our clients are informed on changes in the mortgage industry. We are always on top of changes in our industry. One thing that we have learned in that this industry is continually changing.

noreply@blogger.com (Jamie Frampton) — Thu, 07 Jun 2007 01:16:00 +0000

Brian and I just wanted to share this little marketing checklist of important steps to our marketing plan with you:
1- Powerful mission statement. A mission statement addresses what your customers ultimately value and how your business will help them achieve that value. When writing your mission statement, assume your customers' perspective and focus on their true end goals. Then articulate this mission into a clear and concise statement.
Our mission statement is as follows:

To create, nurture, and maintain a positive environment of growth, challenge and unlimited potential for each other as well as those around us.
2-Professional photographs. Regardless of your business, professionally shot, high-quality photographs of you, your team and products communicate success, confidence, professionalism and trust to your customers. Don't scrimp on your professional image.
3-Easy-to-navigate website. Regardless of your industry, more people are researching products and services by visiting websites. Don't disappoint your customers. Make sure you understand their needs, and ensure your website quickly points them to the information they seek. Your site should thoroughly explain your business, including hours of operation and contact information. We are always working on making this better. It is after all the first impression that some of our potential clients get of us.
4-Personal brochure. A brochure is a professional summary of your products, services, experience and knowledge that you can give to potential customers. Make sure your benefit-driven brochure communicates to customers the full range of products and services you offer.
5-Up-to-date database. Your customer database is arguably your most important marketing tool. But to be effective, it needs to be maintained. Commit to regularly entering new customer information and updating existing records, as well as noting personal information (such as birthdays) that can help you connect with clients. THIS IS THE MOST IMPORTANT THING THAT BRIAN AND I DO IN OUR BUSINESS.

noreply@blogger.com (Jamie Frampton) — Tue, 05 Jun 2007 13:56:00 +0000

Everything depends on how we process the information or pressure. Jump to hyper speed or slam into an asteroid. Some things Brian an I use to help us in our daily business:

Stay calm - lower your flashpoint by asking more questions about your borrower, listening carefully, and think only about solutions. Or as Hemingway defined courage - as grace under pressure.
Act confidently..... it shows.
Take control. Can't dwell on the past, so focus on what can be done now. People don't fail because they don't get the right breaks; people fail because they don't take actions that will change current circumstances. It is ultimately up to you.....
Pinpoint constraints. What is the limiting factor/constraint which is slowing you down from achieving your goal. Then focus on alleviating that constraint.
Zero in on priorities.
Focus on key areas - example, what key activities produce the more results. Usually it will come down to a core set of 20% that produce 80% of your results. Focus on those activities. A short list of priorities will help you focus. Close more sales. Yeah, don't we all want that. Practice the 25-call method - set a target of 25 calls and see how fast you can get there..... or make it 25 contats and just do it.
Conserve your energy. Stay healthy for the daily combat, work out; cut out 'happy hour' - change stuff up - for me, Good-bye cheese and ice cream - hello GYM. I run or work out a minimum of 6 days a week. I noticed when I started doing this I became a little better at all of the above and my production incraesed.
Remain ethical. Always act as if someone is watching...... because in most circumstances, they are.
Persist. The decision to never give up is the ultimate guarantor of success. Hang tough.....and always follow through. There is a reward at the end of the tunnel!!!!

Remember if you or anyone you know is looking for a home loan give Brian a call at 251-680-5010 or Jamie at 251-709-1010. If you would like to use our toll free number 866-684-8326 ext 2080.

All for now!!!!

Major changes in the My Community Loan program

noreply@blogger.com (Jamie Frampton) — Sat, 02 Jun 2007 17:26:00 +0000

Brian & Jamie Frampton

We just wanted to let everyone know that the popular loan product know as My Community Mortgage is changing effective July 22, 2007. It will be updated on the next release of DO/DU with Version 5.7 to support several policy changes and product enhancements. Even though it is considered an enhancement I believe that it will impact the market in a negative way. This release changes the Expanded Approval® (EA) and the interest-only (IO) features as well as the deliverability of EA-II and EA-III.

Prior to the release any EA recommendation was allowed and considered a deliverable loan. EA recommendations will still be returned to all users. EA loans will be eligible for up to 40-year terms. The expanded eligibility criteria of the interest-only feature will now be reflected in DU. A loan-level price adjustment (LLPA) of 1.00% will be implemented on all MCM loans (effective for deliveries on or after August 1, 2007). Loans receiving an EA-II recommendation will no longer be eligible for MCM. Release Notes are also posted for the DO/DU Area Median Incomes (AMIs) Update scheduled for June 10. DU will be updated to reflect the AMIs for 2007 that will be used by DU to determine eligibility for Community Lending products, such as MCM.

To ensure that your clients are really going to be closing I would like to remind you that The Frampton Team takes all precautions to ensure that you and or your client should feel confident in the approvals that the Frampton Team issues. We do stay up to date on all of our product guidelines.