Cincinnati Real Estate and Financial Market updates

INSIDE THE MARKETS

2011-09-19T16:02:00.001-04:00

If you absolutely, positively want to position yourself to be successful in today's market!

QUOTE OF THE WEEK..."Work joyfully and peacefully, knowing that right thoughts and right efforts will inevitably bring about right results."--James Allen (1864-1912), British inspirational writer

INFO THAT HITS US WHERE WE LIVE...We did see some right results for housing last week, and hopefully we've been working joyfully and peacefully to bring them about. Realtor.com reported that inventories of homes, condos, townhouses and co-ops shrank in August for the fourth month in a row. They're now down 19% from a year ago, and rest at 2.27 million units. Dropping inventories do keep home prices from falling and, supporting this, the national median list price was unchanged from June and July and up about 0.5% from a year ago, at $189,900.

National average mortgage rates continued to drift downward, again hitting new record lows. And borrowers are responding, with demand for purchase loans up 7% from the week before, according to the Mortgage Bankers Association. Refinancing applications are also up. Freddie Mac's chief economist noted the average interest rate on outstanding mortgages is 5.28% and that refinancing into a 30-year fixed mortgage at today's rates could save $1715 a year in interest on a $200,000 loan.

BUSINESS TIP OF THE WEEK...The best indicator of long term success is actually "street smarts." To develop yours, dive in, don't dawdle over decisions, learn from your mistakes and experiment continually.

>> Review of Last Week

TURNAROUND!...Stocks headed back up five days in a row, giving the S&P500 its best performance since June, though it was just the second weekly rise in eight weeks. The week began with great worry over the status of French banks, but things turned positive on news that the BRIC countries--Brazil, Russia, India and China--are in talks to buy eurozone debt. The European Central Bank also lined up other central banks to help out with loans if needed. This got Wall Streeters feeling so good, they ignored the lackluster U.S. economic reports and sent stock prices skyward.

The parade of mediocre data was led by producer inflation, flat for August but up 6.5% from a year ago. Core CPI consumer inflation was up 0.2% for August and up 2.0% versus a year ago, putting it at the top of the Fed's target range. That could make this week's Fed meeting interesting. New jobless claims inched up to 428,000. Retail was flat for August, but even in good times there are off months, and anyway Retail Sales are up 7.2% from a year ago. Finally, the industrial sector continues to lead the recovery, with August production and capacity both UP.
For the week, the Dow ended UP 4.7%, at 11509; the S&P 500 was UP 5.4%, to 1216; and the Nasdaq was UP 6.3%, to 2622.

Worries about European debt made Treasuries and mortgage bonds look like safe bets, sending prices up at first. But inflation concerns and the stock rally ultimately sent bonds the other way. The FNMA 3.5% bond we track closed Friday at $101.05, down .98 for the week. Nevertheless, as mentioned above, national average mortgage rates inched down, setting new record lows.

DID YOU KNOW?...A prepayment (or prior redemption) privilege is a clause allowing the borrower to pay off a mortgage early without penalty. When interest rates fall, this lets the borrower pay off the mortgage and refinance at a lower rate.

>> This Week’s Forecast

NEW CONSTRUCTION, EXISTING HOME SALES AND, OH YES, ANOTHER FED MEETING...It will be useful for folks with our interests to check out Tuesday's August Housing Starts, expected to be down. This will at least help clear the inventory of new homes. The annual rate for Building Permits should be down a little as well. Wednesday will give us the Existing Home Sales reading for August, predicted to be inching back toward the 5 million level.

Wednesday we'll also see the Fed's policy statement from the latest FOMC meeting.No one expects the rate to rise, but speculation surrounds Chairman Bernanke's decision to extend the confab to two days. What will they say about inflation? Will they launch Operation Twist and start buying long bonds? Will they throw more money into the system?

>> The Week’s Economic Indicator Calendar

Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates.

Economic Calendar for the Week of Sep 19 – Sep 23

Date	Time (ET)	Release	For	Consensus	Prior	Impact
Tu Sep 20	08:30	Housing Starts	Aug	592K	604K	Moderate
Tu Sep 20	08:30	Building Permits	Aug	588K	597K	Moderate
W Sep 21	10:00	Existing Home Sales	Aug	4.70M	4.67M	Moderate
W Sep 21	10:30	Crude Inventories	9/17	NA	–6.7M	Moderate
W Sep 21	14:15	FOMC Rate Decision	9/21	0%-0.25%	0%-0.25%	HIGH
Th Sep 22	08:30	Initial Unemployment Claims	9/17	417K	428K	Moderate
Th Sep 22	08:30	Continuing Unemployment Claims	9/10	3.730M	3.726M	Moderate
Th Sep 22	08:30	Leading Economic Indicators (LEI) Index	Aug	0.1%	0.5%	Moderate

>> Federal Reserve Watch

Forecasting Federal Reserve policy changes in coming months...This week's Fed meeting does not have economists expecting a boost in the Funds Rate, even though last week's inflation figures could bring a hike sooner than the two years the Fed wants to keep the rate at its super low level. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.
Current Fed Funds Rate: 0%–0.25%

After FOMC meeting on:	Consensus
Sep 21	0%–0.25%
Nov 2	0%–0.25%
Dec 13	0%–0.25%

Probability of change from current policy:

After FOMC meeting on:	Consensus
Sep 21	<1%
Nov 2	<1%
Dec 13	<1%

...

2011-09-15T15:08:00.000-04:00

If you absolutely, positively want to postion yourself to be successful in today's market!

Federal tax credits for most energy-efficient home improvements are set to expire at the end of 2011.Experts say they won't be extended. Purchase and installation must be this year, so you need to start projects no later than October or November.

Products and projects that qualify for the federal tax credit may be found at:
http://www.energystar.gov/index.cfm?c=tax_credits.tx_index
Rebates and tax credits are also offered by states and these incentives can be searched at:
http://www.dsireusa.org

The maximum federal tax credit is $500 and the amount varies depending on the product. But tax credits are often better than deductions, which only reduce your taxable income. Tax credits reduce your total tax liability, so it's like getting money back from the IRS.

Plus, energy-efficient upgrades save you money year after year. Insulation can reduce air leakage 20% to 30%, saving about $220 a year. New windows can save up to $500 a year. A new air conditioner is typically 30% more efficient than a 10-year-old one. New ductwork, central air cooling and water heaters are also very cost-effective improvements.

For bigger green projects, federal tax breaks are available until 2016! Examples include solar energy systems, geothermal heat pumps, small wind turbines and fuel cells. These may earn a tax credit worth up to 30% of the cost, with no dollar limit. For more information, check the Energy Star website:http://www.energystar.gov/index.cfm?c=tax_credits.tx_index

Check the websites above for eligible projects. Andalways consult with a tax professional before proceeding with expenditures that have tax implications.

PS Thinking of upsizing, downsizing or refinancing to take advantage of today's affordable home prices and historic low mortgage rates? Please call or email us now to discuss your situation.

Inside The Markets

2011-09-12T10:01:00.000-04:00

If you absolutely, positively want to position yourself to be successful in today's market!

Market Update

QUOTE OF THE WEEK..."The lure of the distant and the difficult is deceptive. The great opportunity is where you are."--John Burroughs, American naturalist and essayist

INFO THAT HITS US WHERE WE LIVE...The great opportunity now is for home buyers to get a mortgage at an historically low rate. Freddie Mac reported national average mortgage rates set new record lows last week. But according to most observers, buyers shouldn't expect further rate dips. Lenders are seeing plenty of loan volume, so they don't have to lower pricing to get more activity.

Opportunity was also one of the themes in Fannie Mae's August National Housing Survey, where 69% of Americans polled say now is a good time to buy a home. And in spite of all the talk about more price declines, people expect home prices to dip only 0.5% in the next year. This is why some observers feel we're at a price bottom now. A strong 46% of Americans expect rents to go up in the next year, so that should motivate purchases as well.

BUSINESS TIP OF THE WEEK...Business school researchers found that the businesses able to survive economic downturns were ones who continually changed in response to the business climate, adapted to the headwinds and constantly tried new ideas.

>> Review of Last Week

CONTINENTAL DRIFT...In four days of stock trading, the Dow drifted down for the sixth week out of the last seven, all because of financial dramas on the European continent. Europe's Central Bank President failed to offer any plan to stimulate growth following the downward revision to his GDP forecast for the region. Friday there was talk that Greece might default on its debt over the weekend. On our shores, news that weekly initial jobless claims are still above 400,000 didn't help matters either.

Even a couple of surprisingly good U.S. economic reports couldn't overcome all these bad vibes. The August ISM Services Index was UP, to a better-than-expected 53.3, showing expansion in the non-manufacturing sector responsible for about 85% of our jobs. Following this, it was reported that the July Trade Deficit shrank, thanks to a $6.2 billion INCREASE in exports, which are UP 15.1% in the last year, ahead of imports, up 13.6%.

For the week, the Dow ended down 2.2%, at 10992; the S&P 500 was down 1.7%, to 1154; and the Nasdaq was down 0.5%, at 2468.

Friday the bond market saw a huge flight to safety by investors motivated by those rumors of a weekend Greek default. A government spokesman in Athens said that wouldn't be so, but Wall Streeters opted for sleeping undisturbed until Monday. The FNMA 3.5% bond we track closed Friday at $102.03, up .81 for the week. Mortgage bond prices were up and, as mentioned above, national average mortgage rates set new record lows.

DID YOU KNOW?...The CPI inflation indicator measures the change in the cost of a fixed basket of products and services like housing, food and transportation. The Core CPI favored by the Fed excludes food and energy prices because of their monthly volatility.

>> This Week’s Forecast

This week began with the observance of the 10th anniversary of the September 11 terrorist attacks. Our thoughts are with all those who lost their lives and with their families, whose lives were forever changed.

INFLATION, RETAIL, MANUFACTURING...Wholesale inflation is expected to be well under control in Wednesday's Producer Price Index (PPI) and Core PPI readings for August. Thursday, the critical Consumer Price Index (CPI) and Core CPI inflation measures are also forecast well within the Fed's target range. August Retail Sales should still show consumers doing their part, although sales growth is predicted to be less than July's.

Manufacturing is expected to be down a tad in the August Industrial Production and Capacity Utilization readings. And the Empire Manufacturing Index for New York and the Philadelphia Fed Index should still show contraction in those regions, although less than in the prior month.

>> The Week’s Economic Indicator Calendar

Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates.

Economic Calendar for the Week of Sep 12 – Sep 16

DateTime (ET)ReleaseForConsensusPriorImpact

W

Sep 1408:30Producer Price Index (PPI)Aug0.0%0.2%Moderate

W

Sep 1408:30Core PPIAug0.2%0.4%Moderate

W

Sep 1408:30Retail SalesAug0.2%0.5%HIGH

W

Sep 1408:30Retail Sales ex-autoAug0.3%0.5%HIGH

W

Sep 1410:00Business InventoriesJul0.5%0.3%Moderate

W

Sep 1410:30Crude Inventories9/10NA–3.963MModerate

Th

Sep 1508:30Initial Unemployment Claims9/10410K414KModerate

Th

Sep 1508:30Continuing Unemployment Claims9/33.700M3.717MModerate

Th

Sep 15

08:30Consumer Price Index (CPI)Aug0.2%0.5%HIGH

Th

Sep 1508:30Core CPIAug0.2%0.2%HIGH

Th

Sep 1508:30Empire Manufacturing IndexSep–4.0–7.7Moderate

Th

Sep 1508:30Industrial ProductionAug0.0%0.9%Moderate

Th

Sep 1508:30Capacity UtilizationAug77.4%77.5%Moderate

Th

Sep 1510:00Philadelphia Fed Manufacturing IndexSep–10.0–30.7HIGH

F

Sep 1609:55Univ. of Michigan Consumer SentimentSep56.355.7Moderate

>> Federal Reserve Watch

Forecasting Federal Reserve policy changes in coming months...Economists see a hike in the Funds Rate as the farthest thing from the Fed's collective mind, clear through the first half of 2013. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.

Current Fed Funds Rate: 0%–0.25%

After FOMC meeting on:Consensus

Sep 200%–0.25%

Nov 20%–0.25%

Dec 130%–0.25%

Probability of change from current policy:

After FOMC meeting on:Consensus

Sep 20 <1%

Nov 2 <1%

Dec 13 <1%

This e-mail is an advertisement for Kim Schieldknecht. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice, or a commitment to lend. Although the material is deemed to be accurate and reliable, there is no guarantee of its accuracy. The material contained in the newsletter is the property of PrimeLending, A PlainsCapital Company.. It is designed for real estate and other financial professionals only. The material does not represent the opinion of PrimeLending, A PlainsCapital or RE/MAX Elite.

Inside Lending

2011-09-08T14:22:00.000-04:00

If you absolutely, positively want to postion yourself to be successful in today's market!

QUOTE OF THE WEEK..."Get your facts first, then you can distort them as you please."--Mark Twain

INFO THAT HITS US WHERE WE LIVE...Last week's housing market facts were so good, it was hard for commentators to distort them into the negative picture many like to paint. Wednesday's Pending Home Sales for May came in 8.2% ahead of April, the biggest monthly gain since November and 13.4% higher than May a year ago! This annual hike was the first in over a year, while the monthly gain points to sales increases come June and July. All regions were up, the Midwest leading with a 17.2% annual bump!

April's Case-Shiller home price index posted its first gain in eight months, UP 0.8% in the top 10 metros and UP 0.7% in the top 20. Data aggregator CoreLogic's Home Price Index was UP in May for the second month in a row.

It was also nice to see consumers aren't discouraged. In a New York Times/CBS News poll, almost 9 in 10 Americans say homeownership is an important part of the American Dream. And consumers continue to believe that the market will eventually improve and housing will regain its traditional importance.

Lastly, the Wall Street Journal reported, "there are growing indications that it is a good time to buy," concluding that "the long-term case for home ownership is looking stronger."

BUSINESS TIP OF THE WEEK...Take the initiative. Don't wait for things to happen, get them started right now. Instigate, experiment, test, learn. Don't just react to the world, take action yourself!

>> Review of Last Week

EARLY FIREWORKS...It was an explosive week for stocks, as investors just couldn't wait for the weekend celebrations. It was one of the biggest weekly market gains in two years. Greece passed unpopular austerity measures and got its bailout. This calmed Wall Streeters worried about US bank exposure to Greek bonds. The week began with inflation still under control. Core PCE Prices were up 0.3% in May and up only 1.2% for the year. And personal income is up 4.2% in the past year.

On the jobs front, key to housing, the Bureau of Labor Statistics reported that in May, the unemployment rate fell year-over-year in 74% of the metro areas measured. Investors were also buoyed by an unexpected uptick in manufacturing. The Chicago PMI bolted up to 61.1 in June, showing strength in Midwestern manufacturing. Manufacturing nationwide also grew strongly, as the ISM Manufacturing index jumped to 55.3 for the month. In both cases a drop had been forecast.

For the week, the Dow ended UP 5.4%, to 12583; the S&P 500 was UP 5.6%, to 1340; and the Nasdaq was UP 6.1%, to 2816.

With stocks surging, bonds headed lower as investor fears dissipated and the Fed ended its QE2 bond buying program. So the FNMA 4.0% bond dropped heavily, ending the week down 1.84, at $99.25. But national average rates on fixed-rate mortgages barely moved, still near yearly lows. National average rates on 5-year adjustable-rate mortgages (ARMs) also hit lows for the year.

DID YOU KNOW?...Last week's Chicago PMI, or Purchasing Managers Index, measures the health of manufacturing in that region. It's based on a survey of purchasing managers who share data on factors like new orders, production, employment, supplier deliveries and inventory.

>> This Week’s Forecast

WILL JOBS JUMP IN JUNE?...Happy Independence Day! There are no economic reports today and markets are closed. Everyone's focus is on Friday's June Employment Report. Economists do not foresee a big jump in jobs just yet, only a nudge up to around 80,000 new payrolls. This won't be enough to drop unemployment below the existing 9.1% rate.

Wednesday features June ISM Services, forecast basically flat, but still above 50, indicating growth in the non-manufacturing sector. Service businesses provide around 85% of U.S. jobs, so expansion is good.

>> The Week’s Economic Indicator Calendar

Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates.

Economic Calendar for the Week of July 4 – July 8

Date Time (ET) Release For Consensus Prior Impact

W

Jul 6 10:00 ISM Services Jun 54.0 54.6 Moderate

Th

Jul 7 08:30 Initial Unemployment Claims 7/2 425K 428K Moderate

Th

Jul 7 08:30 Continuing Unemployment Claims 6/25 3.700M 3.702M Moderate

Th

Jul 7 11:00 Crude Inventories 7/2 NA -4.375M Moderate

F

Jul 8 08:30 Average Workweek Jun 34.4 34.4 HIGH

F

Jul 8 08:30 Hourly Earnings Jun 0.2% 0.3% HIGH

F

Jul 8 08:30 Nonfarm Payrolls Jun 80K 54K HIGH

F

Jul 8 08:30 Unemployment Rate Jun 9.1% 9.1% HIGH

>> Federal Reserve Watch

Forecasting Federal Reserve policy changes in coming months...With the recovery slowing, economists expect Fed Chairman Bernanke to keep the Funds Rate where it is until things get moving again. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.

Current Fed Funds Rate: 0%–0.25%

After FOMC meeting on: Consensus

Aug 9 0%–0.25%

Sep 20 0%–0.25%

Nov 2 0%–0.25%

Probability of change from current policy:

After FOMC meeting on: Consensus

Aug 9 <1%

Sep 20 <1%

Nov 2 <1%

Market update 3-14

2011-03-14T16:31:00.000-04:00

If you absolutely, positively want to postion yourself to be successful in today's market!

We have a good amount of economic data this week. The primary focus will be the FOMC’s rate decision scheduled for tomorrow at 1:15 p.m. CT. The FOMC has been referencing "contained inflation expectations" in their official statements. As far as the consumer goes, these expectations are on the rise. The Univ. of Michigan consumer confidence report’s reading on inflation expectations took a large increase in the March survey. With the March FOMC announcement scheduled for tomorrow, it will be interesting to see if this rise is addressed. There will also be attention given to the consumer and producer price indices for February. We will get regional manufacturing reports from the New York Fed and the Philadelphia Fed. There has been great strength in manufacturing, and we would expect the sentiment to continue to reflect that. Industrial production and capacity utilization will also be released. The National Association of Home Builders will report on homebuilder sentiment which may tick higher on an increase in recent sales. We will also see the number of housing starts and building permits for February.

Treasuries have carved out further gains today following the disaster in Japan. We have stuck to a mostly bullish outlook as the market continues to the upside, but today we have seen buyers from last Wednesday and Thursday head for the exit sign as those purchases were not strongly reinforced. Last Wednesday’s post-auction buying laid some groundwork for a rally and was in fact confirmed by Thursday’s gains. Bulls didn’t completely give up on Friday, but today’s action makes us think that buyers have decided to pull back on the reigns a little, mostly due to the fact that this market is not rallying like it should following the end of last week’s events. That doesn’t rule out higher prices and better rates, just that it will take fresh reasons for these gains to extend. Fresh buyers in the market are needed at this point. Bullish signals on dailies point to a test of the 120-27 level (roughly 3.26%). Upward momentum may begin to increase if the market can push through that level. With a close above 120-02 today, our chances are good that this market still have some upside potential within the near term. 10yr is currently trading 3.35%, along with mortgage backs up 6 ticks in the lower coupons.

source:
Joe Webb

VP, Trading/Pipeline Management

PrimeLending, A PlainsCapital Company

6 Tips: Dominate Your Farm Area

2011-03-13T08:56:00.000-04:00

If you absolutely, positively want to postion yourself to be successful in today's market!

Make sure it's a good fit.Choose your farm wisely.

Know your clientele.
make sure to highlight recent sales data and industry updates. Clientele in other communities may not be as interested in these details.

Do what feels right.. You have to find the method of follow-up that works for you, because only then will it appear genuine.

Be patient and consistent. Give the mailer, or whatever marketing strategy you use, time to work; it can take many months to start seeing direct results.

Be prepared for thick and thin.
Instead of abandoning your farm and clients when the market downturn began, adapt to their changing needs and earned a new specialization. .

Adjust your expectations.
make it your job to provide answers.

Do YouTube: Create Neighborhood Videos

2011-03-11T06:09:00.000-05:00

If you absolutely, positively want to postion yourself to be successful in today's market!

Effective marketing, of course, is key to selling a property, but marketing a neighborhood can be equally important.

Get tips for creating effective neighborhood marketing videos in a new clip titled "Shooting a Neighborhood Video"

The series focuses on ways to create clips with high marketing impact for your websites, social media profiles, personal YouTube page.

Use these links to watch all of the "You Can Do YouTube" tips videos:

Call me to Learn more about how to make and import your videos.

Daily Market Update

2011-03-10T13:08:00.000-05:00

If you absolutely, positively want to postion yourself to be successful in today's market!

By the time stateside trading opened this morning, both bonds and stocks were already in the fast lane. Escaladed fighting in Libya and sovereign debt issues resurfacing (PIGS nations of Portugal, Ireland, Greece and Spain) pushed stocks and oil lower while giving a boost to bonds. Jobless Claims rose 26K to 397K yet Continuing Claims fell 20K. The latter is more of a function of Americans running out of benefits. The bump in Weekly Claims brings into question the strength of our employment recovery. Keep in mind that this index is extremely volatile. In other news, Bill Gross, the godfather of bond investing at Pimco, has sold all positions in U.S. Government related debt in his flagship fund, Pimco Total Return. Reason given is due to projected record budget deficits and the impact on inflation. He also said that Pimco may re-enter the market when interest rates rise from current “artificial lows” created by Federal Government purchases (QE1, QE2, and maybe QE3). His timing maybe a little early given MENA, Euro debt issues, and our uneven recovery but just the same, this guy knows his stuff and it paints a picture of interest rates rising as the year goes on. 13 billion of 30 year bonds hit the auction block as well today. We’ll report the outcome shortly after high noon CST. Technically, the chart is range bound with stability at lower yields. This suggest bullish potential and/or a higher probability of lower interest rates/better mortgage pricing. Trouble is that the signal are not very strong. Our bias is neutral with an edge to the bulls but at the same time we like being defensive. Reason is that the fast money crowd follows the headlines and money is getting thrown around like my wife at the mall. She’ll love that one. Currently, the 10 year note is trading at 3.46%, fading from the early morning gains. Mortgage backs are off their highs ( we priced plus 5/32’s), now up 2/32’s. Be careful. Stocks are off 155 points on the big board. Interesting charts below on Gold and Oil. Both have broke their uptrend and look to be heading for a powerful correction.

PRIMELENDING/SVP- CAPITAL MARKETS

The sales world is changing. Are you changing?

2011-03-08T07:46:00.000-05:00

Been in sales for more than five years? Notice any changes? Of course you have - but probably not the ones I'm going to talk about.

I'm NOT talking about the economy, or customers in financial trouble, or slow sales, or price pressures from competition, or pressures from your boss to "sell more now."

Oh and, by the way, how about YOUR changes? Still cold calling? Still learning "how to close?" Still "finding the pain?" Still trying to figure out social media? Still a bit behind technology? That's your problem.

I AM talking about changes that have taken place over the past five years that will affect sales into the next decade. Your sales.

Here are the major changes that have taken place, and how you must take advantage of them and master them to sell and succeed:

The mobile phone is now your main communication device. It's fast, reliable, and gives you instant access to message and respond.
The Internet is your new marketplace. It's not just how your website stacks up against the competition; it's also how your website exceeds customer needs and wows them. How and what are you messaging to your customers? How easy is it to do e-commerce business with you?
Google is your new reputation and character builder (or assassin). Where do you rank? Not just as a company, but also as a person. Your customers are Googling you! It's time to build a foundation of positive information online.
Your customers expect INSTANT - not a computer voice. Every customer wants and expects a live, friendly person ready to help them when they call you. If you want to know how you're doing in this department, call yourself five minutes before you open, or five minutes after you close, and try to place an order for a hundred thousand dollars.
China is the 51st state. Get over it, and get with it. Figure out how to use their workforce and quality of manufacturing to help your customers.
Text communication is the new "instant." Five years ago it was email. Text is personal. CAUTION: GET PERMISSION TO TEXT. And, by the way, if you do, it's more than a buying signal of a loyal customer; it's also a report card of your performance, your ethics, and your perceived value.
Collaboration with customers. Do they consider you a partner or a sales rep? Are you a trusted advisor or still bidding on jobs as they come up? Are you inside the decision-making room, or outside waiting for a call as to your fate?
Differentiation from the competition. It's no longer a price fight to the finish unless you're looking to do business with Wal-Mart or give up your profit (or both).
Value messaging rather than sales pitching. Any advertisement should be about customer's value after ownership and/or a testimonial statement directly from them. "A dollar over invoice" no longer holds an ounce of credibility. Customers wanting to buy can validate any claim you make in a Google-nanosecond by looking online first.
Value-driven sales presentations. Are you using more boring we-we "slide decks from marketing" or are you finally getting that sales is about what happens AFTER ownership (not before)? How will they produce and profit?
Profit from purchase, not "save money, buy now!" No real decision maker is looking to save money as a reason to purchase. CEOs, presidents, and business owners want to make a profit.
Using voice of customer as proof to your claims. Testimonials are the only proof that your claims are valid.
Using social media to make connections. Five short years ago, there was no awareness of social media sites or YouTube. They were all just born or a year old. Facebook is now the third largest country in the world. And growing. Linking in rather than cold calling. Tweeting a daily value message to your customer and prospect base. Creating and consistently posting on your business Facebook Page.
Weekly email magazine with a value message. Sent to all customers, prospects, and influential people in your industry.

It ain't the way it was, and it never will be that way again. If you think that things will go back to "normal" after the economy rebounds, please don't hold your breath. And please don't WAIT for things to happen - MAKE things happen.

GREAT NEWS: You give me a techno savvy, internet friendly, Google ranked, instant responding, collaborating, different, social media savvy, value driven, value based, value messaging salesperson - who uses voice of customer testimonials, and is interested in how the customer profits - and I'll give you a sale!

What can you do to begin to sell and succeed in today's sales world as fast as possible? Go to www.gitomer.com and enter the words RIGHT NOW in the GitBit box.

Jeffrey Gitomer is the author of The Little Red Book of Selling and eight other business books on sales, customer loyalty, and personal development