Selling Your Home in a Buyer's Market By Kathryn A. Walson Like many people in today's real estate market, you may be thinking about selling your home. And like many prospective home sellers, you're probably kicking yourself for not having moved sooner, before the housing market took a nosedive. Still set on selling? Take heart. Sure, you may take a hit on the sales price on your house compared with the market's peak, but you're also likely to get a good deal. Keep Reading »
The Communication Illusion: The Silent Relationship Killer By Rene F. Rodriguez Communication is a part of almost every human interaction, which is why we keep hearing that we need to be better communicators. But let me ask you a question, "How well do you communicate?" Most people respond with some sort of positive assessment of their communication while being somewhat open for more learning. I have a simple goal and that is to make you paranoid (in a good way) about the effectiveness of your communication with others. Keep Reading »
Turning Back the Clock The Skinny on Restoring Your Skin Skin is one of our more important features. Aesthetically speaking, healthy skin keeps us looking young and vital. In turn, damaged or flawed skin propels others to make judgments about everything from our lifestyle to our age. If you are unhappy with the condition of your skin follow along as we show you how to...turn back the clock. Keep Reading »
Facing Foreclosure? Loan Modification and New Legislation Could Be the Answer The pathways to foreclosure are varied and numerous, especially in today's tougher economy. Increasing mortgage payments or mounting credit card debt, a sudden loss in income or employment, a serious illness, or a divorce or separation are all unexpected changes that can quickly lead to delinquency and even foreclosure. The good news is that there is hope for you or anyone you know who might be on one of these unfortunate paths. Keep Reading »
Dump that Car Getting Rid of a Vehicle You No Longer Want Getting rid of a vehicle isn't always as easy as it seems. Problems can include everything from being locked in to an ironclad car lease to the inability to sell it for a fair price. Throw in any of the reasons for wanting to dump the car in the first place and what you have is a recipe for a potentially long and frustrating process. Follow along as we explore a few of the options, including some you may not have realized. Keep Reading »
Cell Phones for Children Deciding Whether It's Right for Your Family School is now in session. For many families that means driving children to and from class, extra-curricular activities, and friends' houses. Of course for some families, it also means it's time to resurrect the discussion about whether or not to purchase a cell phone for their child. Keep Reading »
Oktoberfest It's About More Than Just the Beer By Kirk Leins When you think of Oktoberfest, the picture that most likely comes to mind is of dirndl-clad waitresses serving fistfuls of super-sized beers. While this image is far from inaccurate, the annual Bavarian festival is also about eating hearty portions of traditional German food. As a personal chef and a first generation German-American, I felt obligated to share some of my favorite German dishes. Keep Reading »
You are receiving a complimentary subscription to YOU Magazine as a result of your ongoing business relationship with Andrea Moore. While beneficial to a wide audience, this information is also commercial in nature and it may contain advertising materials.
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Everything You Need to Know About 529 Plans These college-savings accounts have improved, and now more states offer a deduction for contributing to one. If you are thinking about opening a 529 college savings account, now is the time to do it. Sure, most plans now let you invest any time during the year. But the sooner your money is in an account, the sooner it starts to earn tax-free returns. Plus, recent changes to the law make 529 plans more attractive than ever. Keep Reading »
4 Ways to Get Your Kids Talking at the Dinner Table Once a highly regarded institution, the family dinner table has all but disappeared from the weeknight agenda. For the better part of this country's history, "dinner time" meant far more than the time of the evening when supper was put on the table. It was an opportunity for parents to connect with children and for everyone to discuss the events of their day. The following article and video is one mother's attempt to reestablish this tradition. Keep Reading »
Does the Fed Change Your Monthly Mortgage Payment? The Federal Reserve has cut interest rates six straight times since September 2007. Most analysts are predicting that the Fed will cut rates even further when it meets at the end of this month. And yet, despite a full 3% in interest rate cuts during this time, mortgage rates are significantly higher now than they were just three months ago. How is that possible? Don't rate cuts equal lower mortgage rates? Read on as the team at YOU Magazine goes behind the headlines to show you how these Fed cuts do and don't affect your mortgage. Keep Reading »
Accidental Landlords: A Great Unplanned Investment Lower house prices and higher rents have created a new breed of real estate investor: the accidental landlord. Some bought new homes and couldn't sell their old ones while others chose to invest in the changing market. Either way, being a landlord is more than just sitting back and collecting the rent. This month YOU Magazine takes a closer look at how being a successful landlord is no accident. Keep Reading »
Vim and Vinegar Bringing Vitality to Your Food with an Age-Old Ingredient by Kirk Leins Vinegar is one of the world's original processed foods. For more than five thousand years, food lovers worldwide have been using this incredible ingredient to breathe life into a variety of dishes. But the allure of vinegar doesn't end there. Follow me as I explore one of the most interesting and complex products found in any supermarket, in every city throughout the world. Keep Reading »
Take a Hike! Bringing Your Workout to the Great Outdoors The weather is getting warmer and the days are getting longer. Spring is here and it's time to shed the cocoon of winter. Part of this yearly transition involves rediscovering the beauty that lies outside our front doors. But, spring is also about getting ourselves back into swimsuit shape. Follow along as we show you how to shed your "winter coat," while also taking in some much needed fresh air. We're going on a hike. Keep Reading »
The Formula for Failure and Success by Jim Rohn Failure is not a single, cataclysmic event. We do not fail overnight. Failure is the inevitable result of an accumulation of poor thinking and poor choices. To put it more simply, failure is nothing more than a few errors in judgment repeated every day. Now why would someone make an error in judgment and then be so foolish as to repeat it every day? The answer is because he or she does not think that it matters. Keep Reading »
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Andrea Moore Mortgage Consultant Ameritime Mortgage Company, LLC Phone: Toll Free: (888) 693-8068 Fax: (484) 224-2999 http://www.ameritimemortgage.com/
***Fed Rate Cut***
The Federal Open Market Committee has decided to lower its target for the federal funds rate 75 basis points to 3-1/2 percent.
The Committee took this action in view of a weakening of the economic outlook and increasing downside risks to growth. While strains in short-term funding markets have eased somewhat, broader financial market conditions have continued to deteriorate and credit has tightened further for some businesses and households. Moreover, incoming information indicates a deepening of the housing contraction as well as some softening in labor markets.
The Committee expects inflation to moderate in coming quarters, but it will be necessary to continue to monitor inflation developments carefully.
Appreciable downside risks to growth remain. The Committee will continue to assess the effects of financial and other developments on economic prospects and will act in a timely manner as needed to address those risks.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Charles L. Evans; Thomas M. Hoenig; Donald L. Kohn; Randall S. Kroszner; Eric S. Rosengren; and Kevin M. Warsh. Voting against was William Poole, who did not believe that current conditions justified policy action before the regularly scheduled meeting next week. Absent and not voting was Frederic S. Mishkin.
In a related action, the Board of Governors approved a 75-basis-point decrease in the discount rate to 4 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of Chicago and Minneapolis.
Mortgage Interest Rates*
Rates as of 01/22/2008:
Conforming
APR
Payment per $1,000
30-Yr. fixed
5.375%
5.643%
$5.60
15-Yr. fixed
4.875%
5.325%
$7.84
*Rates are subject to change due to market fluctuations and borrower's eligibility.
PA Primary Mortgage broker license #15573.006 PA Secondary Mortgage broker license #16131.005
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Andrea Moore Ameritime Mortgage Company, LLC 1275 Glenlivet Drive Suite 100 Allentown, PA 18106
Andrea Moore Mortgage Consultant Ameritime Mortgage Company, LLC Phone: Toll Free: (888) 693-8068 Fax: (484) 224-2999 http://www.ameritimemortgage.com/
Type A vs Type B Buyers versus Browsers
Type A: A tendency towards tenseness, impatience, and aggressiveness. Type B: A tendency towards a relaxed manner, patience, and friendliness.
Both of these personality types have their merits, and both tendencies exist in all of us to some degree. But when it comes to homebuyers, Type As are the ones you want to be working with.
Kathi McLean, a real estate superstar who, with her husband, averages more than $40 million per year in volume, says their turning point was when they decided to seek one type of customer over another. "We had spent an inordinate amount of time on people who drained a huge amount of energy," she says. "We made a conscious decision to cut out those kinds of clients. We stuck to our guns, and within a very short time, our business just took off."
So who makes better buyers, Type As or Type Bs? Well, Type A buyers are the ones who are urgently seeking a home. They have a deadline and a willingness to make concessions to get what they want. They're probably moving to the area, trying to get out of an apartment, or are otherwise motivated.
Type B buyers, on the other hand, are lazily looking around, probably already in a home, or just looking for a new place. Maybe they want a smaller home now that the kids are gone, or something with an additional room or two. But they're not in a hurry; they're willing to pass on deals that don't match their specifications exactly.
When you realize a buyer is Type B, you must do everything to bring out their Type A personality. Remember, everyone has some A and some B - it's your job to guide their mood towards a home. Here are some tips:
Encourage all of your clients to get pre-approved (not pre-qualified). Not only does this show their willingness to move forward with the process, it gives you more power to negotiate by knowing exactly what they can afford. If your clients refuse to get pre-approved, this could be a big red flag, a clear sign of a Type B personality that's just out to waste your time.
Know what kind of home they would fall in love with. Have them describe the perfect house. Take notes!
Look for any deadlines they might not be sharing. Are there changes coming in their family that will precipitate the move? Would it be better to move before those changes come?
Share any law or zoning changes that will alter the market. If interest rates seem to be on the rise, remind them of the thousands they'll save by buying sooner rather than later.
When you find a home they would love, tell them you found their home rather than a property they should see. Create the urgency, be contagious, and let them catch it. Do not give up on Type B buyers, but put most of your time and effort into targeting the Type As.
In closing, remember: If you hear them say, "Oh, we're just looking," it's up to you to get them excitedly and aggressively seeking a new home. Let them know that waiting for further price reductions won't do much good if interest rates increase in the meantime. With today's stricter credit guidelines, waiting could mean not qualifying to buy the home at all!
Stay tuned for more Business Boosters coming your way!
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Andrea Moore Ameritime Mortgage Company, LLC 1275 Glenlivet Drive Suite 100 Allentown, PA 18106
These rates do not reference a specific loan program; rather, they reflect general market conditions, which are subject to change.
Did You Know?
In 1992, the final season of his hit TV show, The Cosby Show, Bill Cosby reportedly earned an estimated $125,000 an hour, or $1 million a day, just on product endorsements! Companies included Jell-O, Kodak, Del Monte, Ford, Coca-Cola, and numerous others.
Quote of the Day
"A habit cannot be tossed out of the window; it must be coaxed down the stairs one step at a time."
- Mark Twain
Special Offer
Trivia Challenge
The famous advertising jingle for Dr. Pepper, "I'm a pepper, you're a pepper, wouldn't you like to be a pepper, too" was written and performed by what famous artist?
A. Brian Wilson B. Bob Dylan C. Barry Manilow D. John Denver
The first person to call in with the correct answer wins dinner and movie tickets for two! Trivia Challenge Answer line: (484) 224-3034
Book Review
The Difference Maker by John C. Maxwell
In The Difference Maker, leadership guru John C. Maxwell challenges the merits of the widely- accepted notion that "attitude is everything" in business and in life.
For Maxwell, while the right attitude is important, it simply cannot replace talent, experience, skills, or other desirable qualities - unless it is applied correctly!
For professionals who want to motivate themselves and others to do better, this easy-to-read guide could be the difference maker you've been looking for.
About the author: Dr. John C. Maxwell is the best-selling author of more than 30 books, including The 21 Irrefutable Laws of Leadership.
Renowned speaker, teacher, and entrepreneur, Maxwell has influenced millions around the world, along with several Fortune 500 companies, the United States Military Academy at West Point, and sports organizations such as the NBA, NFL, and NCAA.
As always, we wish to thank our clients who have been kind enough to refer business to us. We appreciate the opportunity to provide excellent service to your family, friends, and co-workers.
Barry Bonds may have broken the all-time home-run record recently, but you wouldn't know it by looking at the headlines. The only "Bonds" the media seems interested in are mortgage bonds - specifically mortgage-backed securities.
To date, subprime mortgages have been credited for bankrupting well over 110 lenders and seriously damaging operations at many major mortgage firms. They've reportedly wiped out 5 hedge funds, tens of thousands of jobs, and have led to millions of foreclosures with millions more on the way. And, as if that weren't enough, subprime mortgages are also blamed for massive volatility in the stock, bond, credit, futures, and real estate markets here in the US. And it's this volatility that is now spreading like a virus into other major financial sectors around the globe. Some say losses in the mortgage securities market alone could reach hundreds of billions of dollars this year.
This means that, for any American looking to buy, sell, or refinance their home, they are confronting a very different market from the one that existed just 6-12 months ago. The US Federal Reserve has already begun pumping billions of dollars into the US banking system in order to address what is clearly a credit crisis that will change how we borrow money for years to come!
How did this happen? The recent real estate boom was fueled by a period of record home appreciation and historically low interest rates. Banks, in order to compete, loosened guidelines and began offering more funding to more borrowers through riskier, non-conforming or "exotic" mortgages.
These ideal lending conditions persisted for several years, supported by high demand, historical real estate data, home prices, and massive trading volume/profits on mortgage-backed securities and other financial instruments on Wall Street.
Then, in 2006, a slowdown in real estate led to a deterioration of home values, an increase in inventories, and ultimately to today's tightening of credit guidelines, leaving many investors unable to sell or refinance out of their existing positions. Many Americans who had tapped into their equity were suddenly tapped-out and overextended as home values fell. Foreclosures followed in record numbers and a re-valuation of mortgage bonds and other financial instruments created the credit/liquidity domino effect we're now experiencing.
Unfortunately, it's going to get a lot worse before it gets better. According to the latest estimates, over 2 million subprime and Alt-A adjustable rate mortgage (ARM) holders will face payment increases of up to 30%-100% when their loans reset in the next 2 to 18 months. These loans make up less than 40% of the total mortgage market, but the negative effects, as we have seen, of increased foreclosure activity can have a ripple effect throughout the industry and around the globe.
What does this mean to you and your mortgage?
Sellers: If you're planning on selling your home, be prepared for an even smaller pool of qualified buyers. While some experts predict a settling of this credit crisis over the coming year, tightened credit guidelines and diminishing mortgage products could knock out as many as 15%-30% of potential qualified buyers. Now is not the time to sit and wait for the best possible price. Have a serious talk with your Real Estate Agent. Having experienced buying/selling transactions in your area, he or she can help you price your home accordingly. He or she can also help ensure that your buyers are pre-approved and stay pre-approved throughout the entire transaction.
Buyers: Get pre-approved by your mortgage professional. 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. Remember, what you qualify for today could change tomorrow in a volatile market. For those looking to refinance, keep this in mind. There is no time to delay! Communicate with your lender. Don't do anything that could negatively affect your credit, and make sure you get all your documentation in on time.
ARMs Borrowers: If your ARM is scheduled to reset in the next 2-18 months, you need to schedule an appointment with a mortgage professional right away. Whether your ARM is subprime, Alt-A, or even if you have a pre-payment penalty, don't let a default or foreclosure situation sneak up on you. Did you know that your monthly payments can increase anywhere from 30% to 100% once your loan resets? At the very least, give yourself the peace of mind of knowing what your adjusted payment will be. A good loan officer can help calculate the numbers.
Borrowers with less-than-perfect credit: Each week it seems lenders are shedding more and more mortgage products. Many lenders have stopped offering No-Doc loans and are reducing all forms of Stated-Income loans. While it might be challenging, borrowers with credit issues need to see a loan expert. Often they have credit repair resources and other strategies to help you reach your financial goals.
Finally, don't let the headlines get to you. While all looks bleak and scary now, there's an important concept to embrace: all markets, while cyclical in nature, are self-correcting, be it credit, real estate, stocks, or bonds. For the last 6 or 7 years, real estate was booming and riding high. The correction we're experiencing now - while it seems harsh and could get much worse - is, in a sense, "natural" and directly related to the extremely loose guidelines and perhaps overzealous lending and leveraging during the boom cycle.
If you or someone you know would like to learn more about the credit crisis and how it could affect your financial goals, please call us at (484) 224-3034 to set up an appointment. We would be happy to speak with you about it!
If you know anyone who is looking to buy, sell or refinance a home, please forward their name and telephone number to us. We will happily provide the same high level of service that we have provided to you. The greatest compliment you could possibly give us is the referral of your friends and family.
Creative Cuisine
No one will ever believe you made this yourself.
Ingredients: - 2 lbs. tomatillos, husks removed and quartered - 1 medium onion, roughly chopped - 2 large jalapenos; halved, seeded and de-veined - 3 large cloves garlic, roughly chopped - the juice of ½ a lime - 1 large avocado, chopped small - ½ cup extra virgin olive oil - salt and pepper
Directions: Preheat broiler. In a glass baking dish, place tomatillos, onions, jalapenos, and garlic. Season with salt and pepper, add olive oil, and toss until well coated. Place in broiler for 20 minutes or until the vegetables are well charred, stirring every 5 minutes. Allow mixture to cool, and process in a blender or food processor. Taste and re-season if necessary. Allow mixture to chill in refrigerator for two hours. Before serving, add avocado and stir to combine.
This wonderful dish not only makes a great dip but can be used as a sauce for grilled chicken, fish, or shrimp. Your guests will absolutely love it!
Street Smarts You've Got Mail!!!
While email has definitely transformed communication on a global scale, for many of today's professionals it has also become a true source of mental and physical stress that reportedly weighs on their productivity, sleeping habits, and even their overall physical health!
On the surface, this might be a difficult concept to accept completely. Perhaps it seems unlikely to you that a few emails could add all that much stress to your life. But consider this: what if each time you read and re-read a single email, you never did anything about it? Now imagine that you kept doing this until your inbox accumulated 100, 200, 500, or even 1000 of these potentially stressful emails!
For many professionals today, it is not uncommon to have email inboxes that look like this. Personal productivity expert David Allen has a solution for this growing problem. He has developed an easy filter that will help you to get and keep your email inbox at zero every day. Part of a much more comprehensive organizational strategy that Allen details in his best-selling book, Getting Things Done, this easy filter can help get you started.
Whenever you begin a new session of opening your email, Allen suggests asking yourself a series of questions as you scan each message.
The first question is "Can I take care of this in two minutes or less?"
If you can, then by all means do it, and then delete the email from your inbox.
If you cannot take care of it in 2 minutes or less, ask yourself this, "Can I defer it?" If the email contains a message or task that would be better handled by an assistant, employee, or co-worker, then the answer is yes. Forward the email to the appropriate person, delegate the task, and delete the email from your inbox. If you cannot take care of it in less than 2 minutes, and you can't defer it, print it out or store it in a task folder to be addressed later, after you've gone through every email first.
Follow this process for every email you receive, and you can easily reach and maintain an inbox with zero emails, and cut down on the stress in your life.
You are receiving this email as a result of your ongoing business relationship with Andrea Moore. While beneficial to a wide audience, this information is also commercial in nature and it may contain advertising materials.
UNSUBSCRIBE. In the unlikely event you decide that you would not like to receive this information, please reply to this email with "Remove" in the subject line.
Andrea Moore Ameritime Mortgage Company, LLC 1275 Glenlivet Drive Suite 100 Allentown, PA 18106
Acupuncture A 5,000 Year Old Remedy The mere thought of needles causes most people to cringe. There's a good reason for this, as these pointy shards of metal are closely associated with the subject of pain. But, here is the irony. For thousands of years, practitioners of Chinese medicine have utilized the insertion of needles to treat not only pain, but various diseases as well. Keep Reading »
How to Ask for a Raise Negotiating for a raise is scary. It's especially scary when employers are substituting technology for people, moving business offshore, downsizing their workforce, and converting permanent jobs into project-length positions. You can't help wondering, "If I ask for a raise, will I be fired?" Not if you know how - and when - to ask. Begin by assessing your negotiating position. Keep Reading »
The Short Sale A Viable Alternative to Foreclosure Economic experts have said that the real estate market is not a major factor in the Federal Reserve's true goal of keeping inflation in check - and its recent activity seems to bear this out. By strategically infusing billions of dollars into the banking system and unexpectedly cutting its discount window rate for 30 days, the Fed has clearly attempted to "bail out" the financial and credit markets. The real estate market, however, continues to suffer... Keep Reading »
Body Language 101 The Science Behind Silent Communication We use a variety of methods to communicate with those around us. Verbal and written exchanges seem to be the most studied and, in turn, the most well-understood. But, there is another method we use to communicate our thoughts. And, while it is effective, it's a medium that doesn't get the attention it rightly deserves. That being said, welcome to Body Language 101. Keep Reading »
Olive Oil The Culinary World's Most Important Commodity By Kirk Leins Given its many uses, olive oil may well be the most essential food item found in any kitchen. Not only is it a wonderful medium in which to cook, it's also a critical ingredient for many dishes, as well as a complementary, yet understated condiment. Follow me on a gastronomic journey, complete with tips for tasting and buying olive oil, not to mention a few delectable recipes... Keep Reading »
Preparation for Your Presentations By Jim Rohn Persistence in your presentations, this is one secret to success. After my first presentation, I got up and did it again. Even though I was scared to death, I did it again. And that second one wasn't too good, but guess what. I did it again, and I did it again. And I worked up my courage, and I did it again. I committed to it, and I did it again. And finally, it got to be a little bit easier. Keep Reading »
Creating a Home Office There are many rooms in a home that could be considered a sanctuary: a cozy bedroom, a luxurious bathroom, and a state-of-the-art home theater, to name a few. But, how about an office? We realize it's a bit of a stretch to equate a home office with a place of refuge, but maybe it's time we changed that. Keep Reading »
You are receiving a complimentary subscription to YOU Magazine as a result of your ongoing business relationship with Andrea Moore. While beneficial to a wide audience, this information is also commercial in nature and it may contain advertising materials.
UNSUBSCRIBE to YOU Magazine. In the unlikely event you decide that you would not like to receive your complimentary subscription to YOU Magazine, please reply to this email with "Remove" in the subject line.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
First Mortgage Broker License # 15573.006. Secondary Mortgage Broker License # 16131.005 
Type A: A tendency towards tenseness, impatience, and aggressiveness. 
Barry Bonds may have broken the all-time home-run record recently, but you wouldn't know it by looking at the headlines. The only "Bonds" the media seems interested in are mortgage bonds - specifically mortgage-backed securities. 
If you know anyone who is looking to buy, sell or refinance a home, please forward their name and telephone number to us. We will happily provide the same high level of service that we have provided to you. The greatest compliment you could possibly give us is the referral of your friends and family. 
While email has definitely transformed communication on a global scale, for many of today's professionals it has also become a true source of mental and physical stress that reportedly weighs on their productivity, sleeping habits, and even their overall physical health! 
;)
;)
