Good News About Real Estate and Life!

5.21.12 Monday News you can USE

2012-05-22T11:37:00.001-04:00

I have never seen a bad television program, because I refuse to. God gave me a mind, and a wrist that turns things off.
- Jack Paar

What choices are you making with regards to what's going into your head? YCM

Have clients who went through foreclosure? Check this out! The banks are sending out 4 million more letters to offer to pay restitution to those they made mistakes on - only 4.1% responded to the first mailing! I wonder if they mailed it to the foreclosed property address :)

Hey - all you Canadian Real Estate agents - your clients are investing in the USA maybe you should refer some of them to fellow YCM agents!!

Time Magazine - Housing recovery has officially begun!

Interesting statistics in this Article - Bank of America offering up to $30,000 to complete a short sale!
Average Sales Price Foreclosure: $150,000 Short Sales: $185,000 and then add in increased expenses with a foreclosure for taxes, maintenance fees, condition of the home, and attorneys fees and it's easy to see this makes dollars and sense! Wells Fargo and Chase are also contemplating doing more of this!

Got a neighborhood farm - look at this NextDoor.com cool site with some really useful features.

Are you ready for the Echo Boomers?

5.14.12 Monday News you can USE!

2012-05-14T09:26:00.001-04:00

John Maxwell says - “If we’re growing, we’re always going to be out of our comfort zone.”

How are you growing today?
What are you going to do today that makes you a little bit uncomfortable and will help you reach your goals?

Buyers - Mortgages at New Lows

Inventory Down 41% - And when that happens, what normally happens to prices?

10 Markets Poised for Double Digit Gains - Is one of them YOURS? BIGGEST NEWS TO SHARE!

Let us know which expert you think is right? Is now the best time to buy your first home?

How to fire a pushy agent - Some good nuggets and insight into a buyers mind.

Great Ideas are valuable How one Canadian traded a paperclip for a house! Play Big & Better this week! Love this quote:
The experience wasn’t about gaining a house. It was the power of “working together to make it happen” and being “open to adventure”.If I had not traded away that first paperclip, none of this would have happened” It’s not really about paperclips, he says, but how you network with individuals and touch their lives.

From The Coaches at Your Coaching Matters
Kate Vail
Donna Fleetwood
Ilona Matteson
Donna Stott
Mike Stott

5.8.12 Monday News you can USE

2012-05-09T10:53:00.001-04:00

“Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.”
― H. Jackson Brown Jr., author: P.S. I Love You

Buy Now! Homes won't be getting more affordable

Inventory Down in Many Cities

Mortgage Rates at Record Lows

100 Markets Improving

Anybody noticing a trend here? Get your buyers to take action now! Call Expireds from a year ago - Knock on a FSBO's door - the market is changing. Are you working it to your advantage?

4.30.12 Monday News You can USE

2012-05-01T11:58:00.001-04:00

Had someone who told me today that FSBO's are a waste of time because she had been out to see three of them and none had listed... I was reminded of this great quote by Michael Jordan:

I've missed more than 9000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game winning shot and missed. I've failed over and over and over again in my life. And that is why I succeed.

When do you quit?

NEWS YOU CAN USE

Numbers of Contracts Increasing

Are buyers confident yet?

Homes Prices may be bottoming out

Opportunity - Homeownership rates down to lowest levels in 15 years

Canadians - beware the greed factor!

For your Buyers 4 ways to get a great deal on a mortgage

Mike Stott

http://www.YourCoachingMatters.com
678-232-0927
Mike.Stott@mac.com

Is the market shifting up?

2012-04-26T11:24:00.001-04:00

To be looking for now:
1. Is inventory decreasing (for similar time-period)
2. DOM decreasing
3. Multiple offer situations
4. Months of remaining inventory (looking for less than 5)

4.23.2012 Monday News you can USE

2012-04-23T14:16:00.001-04:00

"Many of life's failures are people who did not realize how close they were to success when they gave up." --Thomas A. Edison

Forbes - Best Cities to buy in now

Least Realistically Priced homes are in these cities

Prices Recovering UNLESS Foreclosures Flood the market

Banks are Wheeling and Dealing - Short Sales Surpass Foreclosures

Sales Drop in March Down 2.6%

Best Time Ever to Buy! 20% on Median Home at $155,000 P&I is $616!

National Home sales Rise in Canada 2.5% Up

4.16.2012 Monday News you can USE

2012-04-16T15:13:00.001-04:00

A winner is someone who recognizes his God-given talents, works his tail off to develop them into skills, and uses these skills to accomplish his goals.
Larry Bird

Why FSBO's Miss the Right Buyer

Interesting Look at HAMP Modification Numbers

CNN Money says Flood of Foreclosures Coming

FNMA and Freddie Mac considering Principal Reduction Plans

Mobile Web Searches generate buyer leads

Cool Show to Watch? Buy Herself focusing on helping Single Women in Canada buy a home! EVERYONE should be working on this demographic!

List if 10 things Sellers should avoid - Buyer "turnoffs"

2012-04-14T16:47:00.001-04:00

They suggest 10 buyer turnoffs that sellers should avoid at all costs.
"If you do all the staging correctly and have a good agent, the house will hopefully only be on the market a few weeks," Dana says. "Then you can go back to living your life."
1. Dirt
Nothing turns off a buyer quicker than a dirty house.
"The No. 1 biggest mistake is not getting the home in the best possible condition. That's huge," says Goldwasser. "I won't even represent sellers at this point unless they are fully aware of how important it is to get their home in the absolute best condition that they've ever had it in."
Goldwasser recommends that sellers go the extra mile, from steam-cleaning tile and grout to replacing carpets. "If the carpets are old and smelly, you should put in new," he says. "If they're relatively new, you should at least have them shampooed."Cannon agrees that grime can derail any showing."The home should be neat and clean and free of all debris," Cannon says. "If it reeks of cats or the kitchen sinks and counters are so filthy that it almost looks like the food is moving, I won't even want to come in."
2. Odors
Buyers, it's said, buy with their noses. Make sure your home smells fresh and inviting.
"Odors are a big one, especially kitchen odors," says Dana. "I advise my clients not to cook fried food, fish or greasy food while the house is on the market." Some pet owners mistakenly believe pet smells to which they've become accustomed help make their abode homey. Nothing could be further from the truth. "If you're a dog person, you tend to think everyone else is a dog person," says Goldwasser. "But the truth is, 50 percent of the population hates dogs and doesn't want to be near them. "Pets in the home? You have to deal with that." Dana advises her clients to eliminate all traces of pets, not just pet odors. It's important to get rid of pet paraphernalia and have a "pet plan" to make sure the animals are not around when the house is shown. "A lot of times, people will leave pet items out -- dog dishes, cat litter boxes, etc.," Dana says. "That immediately turns off a buyer because they wonder, 'What has that animal done in the house?' Also, some people really don't like dogs. The minute they walk in and see this big, old dog bowl, they immediately won't like the house."
The same rules hold true for smokers: Remove all ashtrays, clean all curtains and upholstery, and consider smoking outdoors while your home is on the market.
"Interestingly, next to the kitchen, the smelliest room in the house is actually the living room," Dana says. "That's typically the room that has the most fabric, so that is where odors get absorbed."
3. Old fixtures
Want buyers to roll their eyes? Leave old fixtures on your doors and cabinets.
"You need to change out old fixtures in your house," Goldwasser says. "New cabinet hardware and doorknobs will probably cost all of $400 or $500, but it makes a huge difference."
The same holds true for dated ceiling fans, light fixtures and kitchen appliances.
"Homes that have old fans, lights, ovens, microwaves, ranges and dishwashers can really turn a buyer off," says Goldwasser. "Sellers will say, 'Oh, the buyers can take care of that.' Well, yes they can, but it's going to impede you from getting the highest price possible for your home."
4. Wallpaper
Your grandmother may have had it in every bedroom. Your mom may have loved it as a room accent. But today's buyer wants no part of wallpaper. "Wallpaper is a definite no-no," Dana says. Wallpaper is a pain to remove and simply adds another chore to a buyer's to-do list, Dana says.
"Wallpaper is extremely personalized. You've spent hours looking over books to pick out the wallpaper you want," she says. "What are the odds that the person walking in the door will also like that wallpaper that you picked out?"
5. Popcorn acoustic ceilings
Times change, and with them home decor styles. Acoustic popcorn ceilings, once the must-have for fashionable homes in the '60s and '70s, now badly date your space.
If you can't stomach the cost or the mess to remove the overhead popcorn, be prepared to credit a buyer in certain markets in order to close a sale. "The popcorn acoustic ceiling is a major, major turnoff to buyers these days," says Goldwasser.
6. Too many personal items
Psychologically, when buyers tour a home, they're trying it on to see how it fits, just as they would a skirt or a pair of pants. If your house is cluttered with too many personal items, it's like the buyer is trying on those clothes with you still in them. A fit is unlikely.
"Anything that makes your house scream 'you' is what you don't want," Dana says. "I tell all my clients that how we decorate to live and how we decorate to sell are different, and right now, we're decorating to sell." Sellers should try to eliminate personal items, including family photos, personal effects and even unique colors, she says.
"As soon as you have family photos, buyers get very distracted. 'Oh, did I go to school with him? What do their children look like?'" she says. "Suddenly, you're selling your family, and you're not selling the home." If you really want to hook a buyer, Dana offers a tip: "I try to place a mirror strategically so that people can actually see themselves in the home, so they can actually picture themselves living there."
7. Snoopy sellers
Realtors and buyers alike generally bristle when the seller greets them at the door for a showing.
"It's so annoying," Goldwasser says. "They will want to walk around with the potential buyer and put in their two cents' worth. It's not good. Normally, there are one out of 10 sellers where it's OK to have them there, and that's because they know what is up with the property and how everything works." Goldwasser makes a point to shoo his sellers away from showings when he's the listing agent. "They like to think they know what they're doing, and that's fine," he says. "But when you've sold thousands of homes and you have a system, you know how to get people the maximum value for their home. That's why they hire you, right?"
8. Misrepresenting your home
Misrepresenting your house online in the multiple listing service is a sure way to really upset buyers and their Realtors. One of Cannon's buyers loved a home she saw online. When he drove by to take a look, he was surprised to find acres of ramshackle mobile homes across the street.
"Sellers are going to paint the best picture they can," he says. "Some listings I've looked at and wondered how in the world they got that gorgeous photo without showing all the junk that's around it. When you get there, you wonder why didn't they just be upfront?"
9. Poor curb appeal
Much is made of curb appeal, and for good reason: It's your home's handshake, the critical first impression that lasts with most buyers.
"You have to totally trim and edge your yard to get it into the most immaculate condition you can," Goldwasser says. "It's a big mistake to not freshly mulch the beds and trim the trees. Every little detail counts. "To not power-wash the exterior or leave mud dauber and wasp and bird's nests in your eaves and above your doors? You've got to be a fool to do that."
10. Clutter
Whether inside or out, less is more when it comes to clutter.
"I usually start in the closets," Dana says. "Your closets should be half-full with nothing on the floor. Why? Because most people looking for a house have outgrown their previous house. Showing them that you've still got room to grow gives them a reason to buy."
Kitchens and built-in bookshelves should showcase spaciousness by following the rule of three. For kitchens, there should be no more than three countertop appliances. Meanwhile, bookshelves should be divided into thirds: one-third books, one-third vases and pictures, and one-third empty.
The home office should be very generic so any type of professional can imagine living there, Dana says."Otherwise, it can be a distraction: 'What does he do for a living? How much money does he make?'" she says.Dana's tip for toddler parents is to pack away extraneous "kiddie litter" and keep a laundry basket handy."When you get that phone call one hour before a showing, toss everything in that basket and take it to the car with you and your kids, and you're all set," she says.

Authors: Chad Goldwasser of Goldwasser Real Estate in Austin, Texas; Terry Cannon, a buyer's agent and broker with Oregon Exclusive Buyers Realty in Salem, Ore.; and Julie Dana, the New York-based "home stylist" and co-author of "The Complete Idiot's Guide to Staging Your Home to Sell."

If you write an Email NL to your Database consider this...

2012-04-13T16:24:00.001-04:00

Consider a section on "What's up with Me" on your E-NL... Example:

1st issue say "I was just honored to receive the aware for the Top Listing Agent at XYZ office for all of 2011... it's a privilege and honor that I want to say thank you to YOU for since your Repeat and Referral business to me is what MADE me #1... so the truth is... That one's for YOU". My humble thank you for your past and continued Referrals of buyers and sellers... I surely appreciate it".
~your name

Month 2:
"What's up with Me"
"Just competed my course work and education for NAR's XXXX Certification. Only X% of all agents across the country hold this designation so you can rest assured that your referrals to me for XXXX will be handled professionally with up-to-the minute technology and resourses. Again, thanks for ALL your referrals - you make my business grow!"
~your name

Month 3:
"What's up with Me"
"As you know, I take my business very seriously. I work hard to get the best education and updates to best serve your real estate needs. You might wonder what all that "alphabet soup" you see after my name in my signature means... so I'll spend the next couple of months highlighting each. This month I'd like to tell you what an ABR is...." and then tell them
~your name

Price Reduction Conversation - Important

2012-04-09T15:40:00.001-04:00

If you have a listed property with a motivated Seller that is not selling, it's important you have this conversation:

• What would you do if you had an offer of X? Put it out on the table as to the type of "lowball" offers that are coming in sometimes.

• Explain we have to counter ever offer - If EVERYTHING else is right in the offer but the price and they ASK us for a counter... THEN what would you do?

• Play the Negotiation Game as if it were real life. If you countered at X and they come back at Y, then what? Keep playing until you're "done". As in real life, this can take 3+ counters back and forth.

• Get the bottom line price. It's critcally important that your Seller understands what his/her bottom line price actaully IS so when an offer DOES come in, they know it.

• Ask: WHY would we offer that "best price" to just 1 buyer... or even this IMAGINARY buyer... rather than offer that price to ALL the buyers out there? - Most Sellers THINK we MUST leave room to negotiate - like that's a rule somewhere out there...

• No... you actually don't. You only HAVE to sell it at the full price. And properties that are price RIGHT or even BELOW market value are often selling for MORE than full price. Here's an example of one I was involved in recently (tell a true story).

• What it boils down to is this: You need to sell your home. You know your bottom line. But no one else does. - Let's price it at that price now. I'll commit to supporting you in countering ALL the offers we get at FULL PRICE if that's what you decide to do. You see... I'd rather you counter all the offers at full price rather than not get any offers at all. Doesn't that make sense?

4.9.2012 Monday News you can USE!

2012-04-09T13:30:00.001-04:00

If you don't want to work you have to work to earn enough money... so that you won't have to work.
Ogden Nash

How to use an IRA for Tax-Free investing - share with your clients.

NAR - Mortgage Deductions Benefits the USA: Here

Some economists predict Rising Prices!

What the foreclosure settlement means to you and your clients. It's a convoluted process

Opportunity - find renters and turn them into buyers - rental rates rising! Conditions are "overwhelming in the favor of buying now. It is unequivocal"

Canada - Listings Taken and Sales Made are UP!

4.2.2012

2012-04-09T13:26:00.001-04:00

Any intelligent fool can make things bigger and more complex... It takes a touch of genius - and a lot of courage to move in the opposite direction.
Albert Einstein

Ok a client asks you what are some reasons to buy a home? 7 Reasons to buy

Have home prices bottomed out? Maybe. CLICK HERE.... but, remember you area is not national - do your own local research!

Some parts of the country have Bidding Wars

Do we need a Freddie Mac/Fannie Mae bailout?

5 Things Buyers Hate!!! Are you guilty? (Maybe send this to some of your sellers?)

Canada Bans personal photos from all Personal Photo Adverstising that's more than 5 years old!! (Hint: Happy 4/1)

3.26.2012 Monday News you can USE

2012-03-26T17:25:00.001-04:00

Be a yardstick of quality. Some people aren't used to an environment where excellence is expected.
- Steve Jobs

Buying a Home Cheaper than renting in 100 major cities. WOW!

Month of Supply of Shadow inventory by State - I don't know how they measured it (does it include just REO's or those in pre-foreclosure) but it's still pretty dramatic

No wonder why we're confused: Opening Sentence is in direct opposition to the headline: What?? This is why your clients need you - to interpret the data.

Bank of America Testing a new program - forgive debt and let homeowners rent the house back from them! Small case study now but who knows?

How to know when theres a housing recovery? Here

Canada - Busy Spring! Wait.. is it spring there yet?? ;)

Testing!

2012-03-22T17:51:00.001-04:00

Testing to see if this works:

Real Estate Sales 101

2012-03-22T10:38:00.001-04:00

Real Estate Sales 101:
Find People who want to Buy or Sell
Qualify them by asking Questions
Set a job interview appointment
Educate CLEARLY so they understand (it's 24 degrees Celsius doesn't educate)
Close for the signature
Provide them excellent Customer Service (Educate some more)
Close the deal
Continue to keep in touch with a Database Program (Educate some more)
Reap rewards of Repeat and Referral business

- Repeat the above as often as needed to meet your goals

3.19.2012 Monday News you can USE!

2012-03-21T09:16:00.001-04:00

Here's something to think about: How come you never see a headline like 'Psychic Wins Lottery'?
- Jay Leno

Think Glink! An interesting view of the real estate market : More of the Same

Prudential Survey: Homeownership still very important

Dan Pink Favorite Tools (maybe to make your KANBAN on?): Ginormous Stickies

And a great way to use the Big Stickies: Skills Training from last THURS.... recording

Do you do ShortSales? HAFA Changes Explained Here - YouTube video

The pig is starting to move through the python: Foreclosures likely to increase per CNN

Canadian Statistics for February: Here

Canada due for a downturn? TD Bank Group says yes

ABOUT TIME !

2012-03-16T09:30:00.001-04:00

Thanks RIS Media....

New Real Estate Poll: Americans Increasingly Optimistic about Homeownership- Posted By susanne On March 15, 2012 @ 3:15 pm

^[1]Americans are significantly more optimistic about homeownership than they were a year ago. That’s according to a new national survey released this week from Prudential Real Estate, a Brookfield Residential Property Services company. According to the second-annual Prudential Real Estate Outlook Survey, a full 60 percent of Americans have favorable views toward the real estate market. That’s up 8 points since last year.

The survey shows that signs of increasing optimism are widespread:

• With interest rates at historically low levels, 96 percent agree or somewhat agree that now is a good time to buy.

• A full 70 percent of respondents have some degree of confidence that property values will improve over the next two years; with an 8 point increase in those very confident or confident compared to last year.

• 63 percent believe that real estate is a good investment despite the recent market volatility; that’s up 11 points from last year.

The survey confirms that despite the recession, homeownership remains a central part of the American Dream. Eight in 10 respondents said homeownership is very important to them; only 15 percent said the economic downturn made homeownership less important.

“Respondents told us what our sales professionals see every day that, despite recent market volatility, homeownership remains integral to the dreams of most Americans and that consumers’ confidence in the housing market is returning,” said Earl Lee, president, Prudential Real Estate. “This is good news for home buyers and sellers, communities and our economy as a whole. As more people look to take advantage of historic interest rates and prices, we believe the foundation for a sustainable recovery is in sight.”

The survey also highlighted strong ties between homeownership and the community: 77 percent agree that homeownership strengthens a sense of community with 87 percent agreeing or somewhat agreeing that neighborhood comprised of homeowners have a stronger sense of community than neighborhoods made up mainly of renters. This is critical in an environment where two in three respondents believe community feelings in America are declining.

Among the generations, 94 percent of respondents believe that finding the right home and community are crucial to helping their family be happy. Only a small minority of older Americans said the recent housing crisis made homeownership less important to them. Nearly half of Gen Y respondents said it made homeownership more important. Gen Y’ers are particularly optimistic about the road ahead with 72% expressing favorable views about the residential real estate market.

“Characteristically, many of these consumers, particularly Gen Y, share a firm sense of family and community,” Lee said. “It’s not surprising now that they’re embracing homeownership to build on that sense.”

The survey also highlighted consumer caution in a recovering real estate market: 93 percent of respondents said that the housing crisis reminds them that they must be more careful about buying and selling property. More than 90 percent of respondents said a good real estate sales professional can help them make the right choices about homes and communities; and 71 percent believe good agent representation is more important than ever, up 4% from last year’s survey.

Methodology: Interviews with 1,251 Americans who are “in the market” to buy or sell a home were conducted online by Palisades Media Ventures and Penn Schoen Berland, between Feb. 10 and 20, 2012. Respondents are aged 25-64 with a household income of at least $50,000, and either recently bought/sold a home or are considering buying/selling a home. The margin of error is +/- 2.8% for all respondents and higher for subgroups.

For more information, visit http://www.prudential.com/realestate

It's recovery time... If it doesn't get messed up...

2012-03-15T19:52:00.001-04:00

by Steve Murray While those in Washington move merrily along trying to correct the housing market, the housing market is doing its best to do that without any help at all. And the help that is now in place (courtesy of Washington) is the kind that we will wish we could FedEx back to them. Markets across the country are beginning to percolate. When the REAL Trends Housing Market Report is released shortly, it will likely show the biggest year over year gain in unit sales in six years. And it will be the seventh month in a row of increased unit sales on a year over year basis, most months in double digits. So what is happening now? You guessed it. Shortages of inventory are popping up all over. Here in Denver overall we have less than two months of homes left to sell at current sales rates and that which we do have is in the higher price brackets which is not where the demand is. We hear the same in nearly a half a dozen markets from every region of the country. How is Washington making this worse? They stuck it to the “big” banks so much so that the rumored millions of foreclosures won’t likely be hitting the streets any time soon. They have so totally scared the appraisal management industry so that there is no real market price mechanism to adjust demand with prices. They have tightened the screws on who can get a mortgage such that investors have a leg up on those families that want to own a home. They have intimidated the mortgage industry about giving mortgages to anyone who can’t prove they can pay it back while also screaming at the same lending institutions for not giving low income families mortgage credit. The list goes on. Just because the Feds and Congress don’t have a tight grip on the residential brokerage business (yet) doesn’t mean they don’t have us all by the throat. They control who, what and how anyone can get credit. They are controlling the prices of homes that need to be financed. They can now exert incredible influence over supply (shadow inventory anyone?). Enough for the rant. As my friend Mike Staver has said, “don’t panic, get back to work”! The great news is thus far it looks like demand is strengthening just as many knew it would as jobs and incomes started to rise again. Americans still prefer to own over renting. Even those who aren’t able to get into ownership now will want to as soon as they can. Hard to believe now that everyone knows housing is a bargain at these prices and these mortgage rates, right? Now is the time. Welcome to spring 2012. The first time we will have a housing comeback without enough inventory at the right price points and with a government controlling the prices of homes that people want. Author Bio: Tracey C. Velt is a writer, blogger and editorial strategist who specializes in the business of real estate. For the past six years, she's been writing and editing for REAL Trends. Prior to that, she served as an editor for Florida Realtor magazine and continues to contribute to multiple real estate publications, both in print and online.

3.12.2011 Monday News You can USE!

2012-03-12T20:48:00.001-04:00

A dream doesn't become reality through magic; it takes sweat, determination and hard work.
Colin Powell

This article is full of some great statistics: Foreclosures Ramp up
1) Foreclosures sold in 2011 = 907,000
2) In 4th Quarter of 2011 Foreclosures were 25% of all closings!
3) Short Sales increased 15% in 2001
4) Average discount for a short sale (versus a non-foreclosure home sale) was 21% - acerage discount for a foreclosure - 36% -15% more!!!!
5) There are 4 million delinquent loans and 2 million in foreclosure!!

CNN says those upside down - 11.1 Million

Bank of America Principal Reduction?? BofA plan Only valid on its loan - non Freddie Mac or Fannie Mae or VA or FHA - and it's already identified the 200,000 and will reach out to them soon. If you know someone that has an offer from BOA, please let us know the details!

No surprice, but it's official! The best time in this history of mankind to buy a home: Affordability at record high! Affordability

Interesting thoughts and business model from our Canadian Neighbor: More Service (Note especially all the comments posted - fun to read)

14 year old girl buys investment property... why aren't you?

2012-03-10T13:02:00.001-05:00

Willow Tufano, landlord.

Meet Willow Tufano, age 14: Lady Gaga fan, animal lover, landlord.

In 2005, when Willow was 7, the housing market was booming. Home prices in some Florida neighborhoods nearly doubled from one month to the next. Her family moved into a big house; her mom became a real estate agent.

But as Willow moved from childhood to adolescence, the market turned, and the neighborhood emptied out. "Everyone is getting foreclosed on here," she says.

After the collapse, Willow's mom started working with investors who wanted to bid on cheap, foreclosed homes. Sometimes Willow tagged along.

One day, she went to a house that an investor wanted to flip. "It was filled with all kinds of stuff!" Willow says. "I was like, 'I can sell this stuff if he'd want to let me have it.' "

That was fine with the investor. So Willow sold the furniture and appliances from the house on Craigslist. She did the same thing with a bunch more houses. After a while, she was clearing about $500 a month, and saving a lot of it.

One day, Willow's mom, Shannon, saw a two-bedroom, concrete-block home on auction for $12,000 — down from $100,000 at the peak of the bubble. Shannon was telling her husband about the house, when Willow piped up.

"I was like, 'What if I bought a house? That would be crazy,' " Willow says.

Willow wound up splitting the house with her mom. Willow plans to buy her mom out in the next few years, and put her name on the title when she turns 18.

The place was a mess when they bought it — "like there was a riot or something," Willow says.

They cleaned it up and rented it out to a young couple for $700 a month.

As I was working on this story, I kept thinking that when a 14-year-old kid can buy a house, the market must have hit bottom. I kept saying this to Willow, and she'd sort of vaguely nod.

But it's hard for Willow to see herself as symbolic of anything. To a 14-year-old kid in Florida, the housing collapse is basically the only world she's known. It's the landscape. It's a Craigslist hobby.

She's thinking she may save up for a second home.

Chana Joffe-Walt/NPR

Willow and her tenants, in front of the house Willow bought with her mother.

Are you a duck, or an Eagle?

2012-03-09T21:46:00.001-05:00

No one can make you serve customers well.....that's because great service
is a choice. Harvey Mackay, tells a wonderful story about a cab driver that
proved this point.

He was waiting in line for a ride at the airport. When a cab pulled up, the
first thing Harvey noticed was that the taxi was polished to a bright
shine. Smartly dressed in a white shirt, black tie, and freshly pressed
black slacks, the cab driver jumped out and rounded the car to open the
back passenger door for Harvey ...

He handed my friend a laminated card and said: 'I'm Wally, your driver.
While I'm loading your bags in the trunk I'd like you to read my mission
statement.'

Taken aback, Harvey re ad the card. It said: Wally's MissionSta ement: To get my customers to their destination in the quickest, safest and cheapest way possible in a friendly environment.

This blew Harvey away. Especially when he noticed that the inside of the cab matched the outside. Spotlessly clean!

As he slid behind the wheel, Wally said, 'Would you like a cup of coffee? I have a thermos of regular and one of decaf.' My friend said jokingly, 'No, I'd prefer a soft drink.' Wally smiled and said, 'No problem I have a cooler up front with regular and Diet Coke, water and orange juice.'
Almost stuttering, Harvey said, 'I'll take a Diet Coke.'

Handing him his drink, Wally said, 'If you'd like something to read, I have
The Wall Street Journal, Time, Sports Illustrated andU USA Today.'

As they were pulling away, Wally handed my friend another laminated card,
These are the stations I get and the music they play, if you'd like to
listen to the radio.'

And as if that weren't enough, Wally told Harvey that he had the
airconditioning on and asked if the temperature was comfortable for him.

Then he advised Harvey of the best route to his destination for that
time of day. He also let him know that he'd be happy to chat and tell him about some of the sights or, if Harvey preferred, to leave him with his own thoughts.

'Tell me, Wally,' my amazed friend asked the driver, 'have you always
served customers like this?'

Wally smiled into the rear view mirror. 'No, not always.. In fact, it's
only been in the last two years. My first five years driving, I spent most of my time complaining like all the rest of the cabbies do. Then I heard the personal growth guru, Wayne Dyer, on the radio one day.

He had just written a book called You'll See It When You Believe It.

Dyer said that if you get up in the morning expecting to have a bad day,
you'll rarely disappoint yourself. He said, 'Stop complaining!
Differentiate yourself from your competition. Don't be a duck. Be an eagle.
Ducks quack and complain. Eagles soar above the crowd..'

'That hit me right between the eyes,' said Wally. 'Dyer was really talking
about me. I was always quacking and complaining, so I decided to change my
attitude and become an eagle. I looked around at the other cabs and their
drivers. The cabs were dirty, the drivers were unfriendly, and the
customers were unhappy. So I decided to make some changes. I put in a few
at a time. When my customers responded well, I did more.'

'I take it that has paid off for you,' Harvey said.

'It sure has,' Wally replied. 'My first year as an eagle, I doubled my
income from the previous year. This year I'll probably quadruple it.

You were lucky to get me today. I don't sit at cabstands anymore. My
customers call me for appointments on my cell phone or leave a message on
my answering machine. If I can't pick them up myself, I get a reliable
cabbie friend to do it and I take a piece of the action.'

Wally was phenomenal. He was running a limo service out of a Yellow Cab.
I've probably told that story to more than fifty cab drivers over the
years, and only two took the idea and ran with it. Whenever I go to their
cities, I give them a call. The rest of the drivers quacked like ducks and
told me all the reasons they couldn't do any of what I was suggesting..

Wally the Cab Driver made a different choice. He decided to stop quacking
like ducks and start soaring like eagles.

How about us? Smile, and the whole world smiles with you... The ball is in
our hands! A man reaps what he sows. Let us not become weary in doing good,
for at the proper time we will reap a harvest if we do not give up... let
us do good to all people.

This is a wonderful lesson that everyone should follow. Even on a dark,
cloudy day, wake up and say "What a beautiful day"

Ducks Quack, Eagles Soar!

Have a nice day, unless you already have other plans...

Which is better to pay for a home... $228K or $195K?

2012-03-08T16:23:00.001-05:00

Case Study... IN MY MARKET AREA...

In 1985 you could buy a NICE older home for about $65,000
You put down 5% down for FHA
The interest rate was 12% and discount points were about 7%.
You put down $3250
The discount point cost was $4,550
NORMAL commission was 7% $4,550
Other costs were around 1% $650
Total: $13,000
YOUR PAYMENT WAS $635 plus taxes and insurance = $228,600 total payments

TODAY you can buy a NICE older home for about $120,000
You put 3.5% for FHA
Your interest rate is 3.875% and discount points are NONE in most cases.
You put down $4,200
No discount point cost is $0
Normal commission is 6% $7200
Other costs are still around 1% $1200
Total: $12,600
YOUR PAYMENT TODAY IS $544/mo plus taxes and insurance = $195,840 total payments

IT'S NOT THE PRICE, IT'S HOW MUCH DOWN AND HOW MUCH A MONTH...

Are you using RealBird?

2012-03-05T11:41:00.001-05:00

If not, sign up for free now... I'll show you want to do with it next week!

http://www.realbird.com/?refID=31042

What will happen in Atlanta March 5th, 6th, and 7th?

2012-02-24T19:31:00.001-05:00

DAY 1: Buyers & the Lean Mean Real Estate Machine (Part 1)…

- How to close 2-4 buyer sides a month without listings or a website!!!

- Lean Mean Qualifying Buyer Leads to STOP WASTING TIME – conversion case studies of what’s working NOW!

- Lean Mean Buyer Showing and Closing Skills to MAKE MORE MONEY.

- Lean THINKING, SCHEDULE and SYSTEMS = MORE $$/working hour!

DAY 2: Listings & the Lean Mean Real Estate Machine (Part 2)…

- Lean Mean FSBO System to get at LEAST 1 listing a week! ZERO resistance!

- Lean Mean Objection Handling that GETS you the APPOINTMENT and SIGNATURE EVERY TIME!

- Lean Mean COACHING Machine – Coaching Clients explain WHAT Coaching does for them

- Wicked “Smaht” Competition – this alone will be worth your entire trip!

- Mike’s Famous (or maybe infamous) real estate predictions…

DAY 3: Coaching Client INNOVATION MASTERMIND

- Learn what’s working now for each coaching client PLUS get help with what your struggling with LIVE

- The Power of Knowledge Shared

- Day 3 is for coaching clients online (if you’re not a coaching client you can get more information prior to the event or on days 1 or 2)

DESTINATION:

ARTMORE Hotel $119/night (includes breakfast) – call 404-876-6100 code: Your Coaching Matters
1302 W. Peachtree Street
Midtown Atlanta, GA 30309

Housing Crisis to End in 2012 as Banks Loosen Credit Standards

2012-02-21T12:47:00.001-05:00

1/21/2012 By: Krista Franks

Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit.

The analytics firm notes the average credit score required to attain a mortgage loan is 700. While this is higher than scores required prior to the crisis, it is constant with requirements one year ago.

Additionally, a Fed Senior Loan Officer Survey found credit requirements in the fourth quarter were consistent with the past three quarters.

However, other market indicators point not just to a stabilization of mortgage lending standards, but also a loosening of credit availability.

Banks are now lending amounts up to 3.5 times borrower earnings. This is up from a low during the crisis of 3.2 times borrower earnings.

Banks are also loosening loan-to-value ratios (LTV), which Capital Economics denotes “the clearest sign yet of an improvement in mortgage credit conditions.”

In contrast to a low of 74 percent reached in mid-2010, banks are now lending at 82 percent LTV.

While credit conditions may have loosened slightly, some potential homebuyers are still struggling with credit requirements. In fact, Capital Economics points out that in November 8 percent of contract cancellations were the result of a potential buyer not qualifying for a loan.

Additionally, Capital Economics says “any improvement in credit conditions won’t be significant enough to generation actual house price gains,” and potential ramifications from the euro-zone pose a threat to future credit availability.