WOW Lifestyle Team

Attract Business in a Down Economy

Jaylyn Bergner — Wed, 03 Mar 2010 01:34:26 +0000

Ok, so the bad news is that the economy is down. No real newsflash there. Every day we see blips of the president pushing the stimulus plan, companies chopping half of their workforces, shuffling unemployment lines. However, last week, couture designer Hermes, reported a 6.2 percent increase in sales coming off the holiday season. Louis Vutton saw an increase of 4.2 percent. And today, sitting at the local Bad Ass Coffee shop, I watched person after person come in and drop $5 for a drink they could make at home for a fraction of the price. Why? Because they can.

So then, what’s the good news? Businesses can actually take advantage of this situation! Traditionally, when enduring hardships, companies cut costs, staff, and production-often times against the better judgment of economic and business advisors. This may result in immediate financial gratification, but does nothing to secure a financial foothold in future markets (and as we currently see, the economy). Instead, you should be ramping up your marketing and public relations efforts. By focusing efforts and finances on increasing your company’s voice, you’ll correlatively augment customer spending. And, a bonus, you’ll have done so without laying off hundreds, if not thousands, of loyal workers.

Zappos is a great example of the right way to conduct business. When forced to make a decision about where to take the organization after facing decreasing numbers, the company’s head shed changed tactics. Instead, they focused on marketing to current clients, improving customer service, and establishing an almost incomparable return policy, with 365 days to return unused products, and without having to pay shipping. I have to say that I’ve only bought one pair of shoes from Zappos, recently, but will no longer look anywhere else.

What steps are you taking to reach out to current and new clients?

Jaylyn Bergner

Get Ready to be Inspired!

Ashley Lewis — Sat, 01 Aug 2009 16:50:48 +0000

Feeling down? Need inspiration? If so grab a cup of cup of your favorite drink, put your feet up and listen to some of the greatest (in my humble opinion) speeches and songs of our era.

A lesson for us all

0:00
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I have a Dream Speech

2:17
Views: 1,157,019

Labi Siffre - Something Inside So Strong

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Peace and Nonviolence in the World

1:58
Views: 969

Evolution of Dance - By Judson Laipply

6:00
Views: 147,705,956

I Still Call Australia Home 2004 Director's Cut

2:01
Views: 118,031

John Williamson, True blue

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Paul sings Nessun Dorma high quality video/sound widescreen 16:9

4:11
Views: 67,172,070

☆"Britains Got Talent or Americas Got Talent ♥ Connie Talbot WOWs Simon Cowell !"

4:57
Views: 79,963,563

Think Different

1:00
Views: 298,903

Life - Inspiration - Happiness

3:28
Views: 3,005

Inspirational Movie for Your Success: The Impossible Dream

2:12
Views: 245,531

What is a Mortgage Meltdown?

Debbie Hutchinson — Mon, 20 Jul 2009 18:12:18 +0000

What is the “meltdown’ that I’m reading about in the headlines?

This refers to a culmination of factors that has led to massive tightening in credit standars among lenders. This tightening is due to an excessive number of mortgages that are both delinquent and in default. As a result of tighter credit standards and the devaluation of mortgage-backed securities global investors are shying away from purchasing additional pools of loans,causing over 100 lenders to close and leaving many homebuyers unable to locate financing alternatives.

Why should a home SELLER be concerned about this?

The pool of potential buyers will shrink as many find it difficult, if not impossible, to obtain mortgage financing. Experts have speculated that the number of potential buyers will contract anywhere from 15% to

30%. Sellers should also be aware that increased foreclosures can depress community values and result in a glut of local inventories, which could further drive down home prices.

Why should a home BUYER be concerned about this?

Buyers need to get pre-approved before entering the market. While there are a lot of great deals out there, getting credit is becoming tougher and tougher, and it’s taking longer and longer to complete a transaction. What you qualify for today could change tomorrow in this volatile market.What types of loans have been most impacted by credit tightening?

Sub-prime and Alt-A have suffered the greatest setback because these borrowers are at greater risk for defaulting. Sub prime loans are those loans which have typically been taken by borrowers with poor credit. Alt-A type loans are for borrowers that typically have good or excellent credit but are unable or unwilling to provide documentation for income and/orassets.

What is the impact on the real estate market?

The National Association of Realtors estimates that home sales nationally will decline by nearly 13% in 2007. Median home prices nationally are projected to fall by 1.2% in 2007. According to the PMI Group, Inc., however, many local markets are experiencing price declines well in excess of that.

The Wooden Bowl

Spirituality Corner — Mon, 22 Jun 2009 13:45:58 +0000

A frail old man went to live with his son, daughter-in-law, and four-year old grandson. The old man’s hands trembled, his eyesight was blurred, and his step faltered. The family ate together at the table. But the elderly grandfather’s shaky hands and failing sight made eating difficult. Peas rolled off his spoon onto the floor.

When he grasped the glass, milk spilled on the tablecloth. The son and daughter-in-law became irritated with the mess. ‘We must do something about father,’ said the son. ‘I’ve had enough of his spilled milk, noisy eating, and food on the floor.’ So the husband and wife set a small table in the corner. There, Grandfather ate alone while the rest of the family enjoyed dinner.

Since Grandfather had broken a dish or two, his food was served in a wooden bowl.
When the family glanced in Grandfather’s direction, sometimes he had a tear in his eye as he sat alone.
Still, the only words the couple had for him were sharp admonitions when he dropped a fork or spilled food. The four-year-old watched it all in silence.

One evening before supper, the father noticed his son playing with wood scraps on the floor.
He asked the child sweetly, ‘What are you making?’ Just as sweetly, the boy responded,
‘Oh, I am making a little bowl for you and Mama to eat your food in when I grow up. ‘ The four-year-old smiled and went back to work.

The words so struck the parents so that they were speechless.Then tears started to stream down their cheeks. Though no word was spoken, both knew what must be done. That evening the husband took Grandfather’s hand and gently led him back to the family table. For the remainder of his days he ate every meal with the family. And for some reason, neither husband nor wife seemed to care any longer when a fork was dropped, milk spilled, or the tablecloth soiled.

On a positive note, I’ve learned that, no matter what happens, how bad it seems today, life does go on, and it will be better tomorrow. I’ve learned that you can tell a lot about a person by the way he/she handles four things: a rainy day, the elderly, lost luggage, and tangled Christmas tree lights.

I’ve learned that, regardless of your relationship with your parents, you’ll miss them when they’re gone from your life.

I’ve learned that making a ‘living’ is not the same thing as making a ‘life..’

I’ve learned that life sometimes gives you a second chance.

I’ve learned that you shouldn’t go through life with a catcher’s mitt on both hands.

You need to be able to throw something back

I’ve learned that if you pursue happiness, it will elude you. But, if you focus on your family, your friends, the needs of others, your work and doing the very best you can, happiness will find you

I’ve learned that even when I have pains, I don’t have to be one.

I’ve learned that every day, you should reach out and touch someone.

People love that human touch — holding hands, a warm hug, or just a friendly pat on the back.
I’ve learned that I still have a lot to learn.

Shared by member Sue Arbuckle.

Real Estate Market Stimulus Package

Debbie Hutchinson — Wed, 27 May 2009 18:10:45 +0000

I’ve worked in the mortgage industry for over 15 years, – and I’ve seen this market hit many highs and survive some tough lows. Let me be your resource as you cover this rapidly changing market. In February, the President signed into law the Economic Stimulus Package in an effort to revive our battered economy. I wanted to be sure you knew that the legislation is about more than just rebate checks; it can also have a positive impact on current and future homeowners. Many people may not be aware of how this bill could create opportunities to save money on their home financing. Here are some of the questions I believe you should consider, and I would be happy to lend my experience and expertise to help explain how our community may be able to take advantage of the temporary rules created by this important legislation.

What impact does the Stimulus Package have on borrowers?

The Economic Stimulus Act of 2008 is a $168 billion plan intended to jumpstart the sliding U.S. economy. The new bill is designed to help certain ‘high-cost regions’ of the struggling housing market by:1) Temporarily increasing the ‘conforming loan limit’ from $417,000 to as high as $729,750 in specified areas; and2) Temporarily increasing the size of loans the Federal Housing Administration
(FHA) can insure from $362,000 to as high as $729,750 in specified areas.

What do these new provisions mean for our community?For those looking to purchase or refinance real estate in a ‘high-cost region,’ this is great news. These temporary increases could help consumers avoid the higher interest rates associated with ‘non-conforming’ or jumbo, loans – which are currently more than a point higher than rates on conforming loans. This means more consumers will be able to take advantage of great real estate deals and get more home for less money. In fact, many homes that some borrowers could not afford just a few years ago could now be within reach, thanks to this temporary government program.The Stimulus Package is also very good news for homeowners looking to refinance out of their expensive jumbo loan and into a new ‘conforming loan.’ While the legislation limits new mortgage contracts to 2008, it does not exclude the refinancing of any past mortgages. This means that, if borrowers qualify, they can take advantage of the new conforming loan limits no matter how many years have passed since they obtained their mortgage – as long as they get it done before the end of 2008.

How is a high-cost region determined? And does our community qualify as one?

A high-cost region is typically determined by the median value of its homes. The median value is the specific price that is halfway between the least expensive and most expensive home sold in an area over a given period of time. Not to be confused with the average home price, the median home price is the price at which half of all buyers bought more expensive homes and half of all buyers bought less expensive homes. If that sounds confusing, don’t worry. It is the responsibility of the Department of Housing and Urban Development (HUD) to determine and publish what the median home price is for regions across the country. I can easily access and interpret these figures for our local residents, and help them calculate the new conforming and/or FHA loan limits within minutes.

Trade In Your Home or Remodel Instead?

Debbie Hutchinson — Mon, 11 May 2009 21:32:45 +0000

Virginia Beach, VA – Each year, millions of Americans move into the home of their dreams. As time goes by, families expand, kids grow older, and suddenly that home isn’t quite so perfect anymore. Or perhaps you still love your home, but you really want a gourmet kitchen and a larger master bedroom. Should you start looking for a new house? Or would it be better to stay where you are and remodel instead? Both options involve a significant investment of time and money, so it’s important to take your time and make an informed decision. You’ll also want to be sure to consider both the financial and the emotional sides of the equation. Let’s begin by examining the financial factors involved.

Moving: A good local real estate agent should be able to assist you with estimates on these numbers.

How much will it cost to purchase a home that will meet your needs?
How much could you sell your existing home for? Don’t forget to subtract the agent’s commission from this total.
What will it cost to move?

According to real estate consultant and best-selling author of Remodel or Move, Dan Fritschen, a typical move costs 10% of the value of your home. How much will your property taxes increase as a result of the move? Remodeling: What projects do you want to have done and how much will they cost? An architect or general contractor will be able to assist you with these figures. How much will the improvements add to the value of your home, also known as the “payback”? A local real estate agent can assist with this as well. If the decision about whether to renovate or move were purely a financial one, then it would be quite easy to look at the numbers and come to the right conclusion. However, there are also emotional factors that come into play, and they have a value as well. Let’s consider some examples. Reasons you may want to move:

If you relocate to a new neighborhood, your children could attend superior schools.
You would like to reduce your commute or have better access to local amenities, such as restaurants and shopping.
You’re not particularly fond of your current neighborhood.
Your yard is too small, and you cannot expand it.

Reasons you may want to stay and remodel:

You’re happy with your location. It’s convenient, you love your neighbors, and the schools are either excellent or are not a factor.
You love the layout of your home.
All you need is a little more space, and your home will be perfect.

Of course only you know what is truly important for your happiness, so try to use these questions as a starting point. Create a list of the pros and cons of each scenario and leave it someplace accessible, so that you and your spouse can add to it as you think of additional factors. You may also want to consider attending open houses and visiting new housing developments to see what is available and how your home compares.Once you’ve completed your list and your financial assessment, it’s time to draw some conclusions. Are the numbers and the emotional factors pointing you in a clear direction? If you’re still feeling unsure and would like some additional assistance, you may want to read Dan Fritschen’s book, Remodel or Move, or visit his website at www.remodelormove.com. Both contain a calculator that will assist you with the difficult task of quantifying the ramifications of your decision. In addition, you can learn tips to assist you with the next step, after you’ve determined what it will be. If you choose to remodel, then you’ll need to have a clear idea of what you want to accomplish before finalizing any details with the contractor or architect. One of the most expensive things you can do is change the project midstream. If you decide to move, then there are low-cost improvements you can make to your existing home that will help it to sell more quickly. The kitchen and the bathrooms provide the biggest return on investment in this area. Whether you decide to remodel or buy a new home, it’s important to ensure that you have proper financing in place prior to moving forward. If you decide to purchase a home, a mortgage originator will help you to determine how much you can afford, as well as which loan package works best with your overall financial plan. In the case of remodeling, you should meet with a mortgage professional before any construction takes place. Otherwise you may severely limit the type of financing options available to you. Additional Resources:Remodel or Move?Make the Right Decision, by Dan Fritschen

Renters Have Much to Gain By Home Ownership

Debbie Hutchinson — Fri, 01 May 2009 01:32:06 +0000

Virginia Beach, VA – Buying a home vs. renting is a big decision that takes careful consideration, as most mortgage consultants will agree. But the rewards of home ownership are great. For many years, purchasing real estate has been considered an extremely profitable investment. It is an achievement that offers a sense of pride, financial stability and potential tax advantages.

Yes, there are certain responsibilities associated with owning a home. Landlords will often argue the benefits of renting, and for obvious reason. If you are renting, you’re helping them make their mortgage payment.

The numbers are staggering if you look at it this way. If you are paying $1,000 per month for an apartment, and you know your rent will increase 5% every year, then over the next five years you will pay your landlord $66,309. If you are currently renting a house, you may be paying much more than that each month. Either way, you gain no equity by shelling out this monthly housing expense and you certainly won’t benefit when the property value goes up!

However, if you were to purchase your own home or condominium, you would be well on your way toward building equity within that same five-year period. By choosing a fixed-rate loan program, you can have the comfort of knowing that your monthly mortgage payment will never go up. In fact, you would have the option of refinancing to a lower interest rate at some point in the future should interest rates drop, and this would cause your monthly mortgage commitment to go down.

In addition to building equity, there are tax advantages that come into play with home ownership. Depending on your tax bracket, owning a home is often less expensive than renting after taxes. Interest payments on a mortgage below $1 million are tax-deductible, and your mortgage consultant should help you evaluate the tax advantages of various loan scenarios, and share this information with your tax consultant to glean feedback on your behalf.

To find the loan program that is right for you, your mortgage consultant will need to evaluate your monthly household income, current assets and savings, as well as any monthly obligations you may have for credit card payments, car payments, child support, etc. These prequalification factors, along with the report of your credit score, will determine how much house you can afford and what interest rate you will pay for financing. It is also important to let your mortgage consultant know what your future goals are, because this will help narrow down which loan option is the best fit for your long-term needs.

There are many different types of loan programs available, including “low” and “no” down payment mortgage programs. These types of programs require the borrower to provide less than 3 percent of the loan amount as down payment. FHA lenders rule that the mortgage payment, including principal, interest, taxes and insurance (PITI) should not exceed 31 percent of your gross income, and the PITI plus other long-term debt (car payments, etc.) should not exceed 43 percent of your gross income.

Housing is an expense that takes a big bite out of the monthly budget. If you are a renter and feel that “home” is more than just someplace to hang your hat, think about the advantages of purchasing real estate. It may be time to take the step into building your personal net worth as a home owner.

If you would lie to receive a FREE CD with tips from a real estate consultant and best-selling author, Dan Fitschen, call Debbie at 757-425-1463 to RSVP and obtain a free copy of our Home Buyer Handbook, 33 ways to sell your home fast, consumer credit scoring booklet or the Equity management booklet

Who is Your Worst Critic?

Miho Kikujo — Fri, 17 Apr 2009 13:32:23 +0000

Is it your mother always has something to say about what you do and how you do?
Maybe your father who is not happy with the choices you made for your career?
Or is it your big sister or brother who used to pick on you and said mean things?
Could it be your boss who is never happy with your work and gave you that discouraging review a few months ago?

Well they maybe critics but I asked for “the worst” and none of these people can’t be the one.
So who is it you ask. Well get ready for the Truth. It’s you.
It may have started as the voice of your parents, siblings, teachers or friends from childhood but by now it is your voice inside of your head that is most brutal and judgmental among all.

We are our worst enemy. We are our bully. We are the meanest one to ourselves. What we tell ourselves in our head is far worse than what anyone else can ever say about us. Let me share some of my own criticism so you get the idea what I am talking about;
“Who do you think you are?”
“You are not smart enough.”
“What makes you think you can do/have that?”
“You can’t make it. Just give it up.”
“Why bother, you would never succeed.”
“You are a loser, and no one cares or likes you.”
And the list goes on. Can you now recognize some words of your own attack?

We sometimes use these words to push ourselves but mostly we use it to beat ourselves up. So how does these words/phrases make you feel? Does it bring you peace or stress? Anything that brings stress is not self-supportive even when we used with a good intention to encourage us to excel more. We already know what our flaws are. There is really no need to keep reminding us about them. If you want to reduce stress then stop being your critic and become your cheerleader and nurturer. Don’t be so mean and start being gentle with yourself. We have seen how criticism can hurt and discourage a child, why continue using the method that is not supportive or loving. Praise and appreciate yourself today for a change, and notice how you feel. Do you feel more at peace than stress?

You always have a choice. Be the cheerleader not the critic.

The Golden Rule

Business Coaching — Mon, 30 Mar 2009 17:37:49 +0000

Always treat others how you would want to be treated. Test

Swimming in a Blue Ocean

Business Coaching — Thu, 05 Feb 2009 14:18:43 +0000

What type of business are you in. Is it one thats unique where you stand out from the crowd? If so you’re in luck. This is referred to as the Blue Ocean Strategy, where pretty much you don’t have any real competition.

By contrast if you are in an industry that is filled with similar products or service providers, making it difficult to differentiate yourself from your competitiors, they you are in a red ocean. This doesn’t mean that you can’t be successful however it is critical that you find your own USP - unique selling proposition that sets you apart from others in your industry.

What are your unique qualities or strengths. Is there a particular market that you deal with that is a little more out of the norm. Yesterday I read an ad for an ‘exit realtor’. A very smart real estate agent had formed a relationship with a woman in a nursing home to cater to those who were dying or to help families sell properties after the death of a loved one.

Instantly this realtor has stuck in my mind as a specialist in this field. If you are stuck for ideas drop me a note in the Q&A box on this page telling me what you do and the challenges you are facing and I will see if I can help you move forward.