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realtor advice: Realtors, You should be scared right now! - 06/09/07 07:11 AM
Why did I start off with this statement? The recent destruction in the Mortgage Backed Securities market has driven interest rates up significantly recently.
That means one thing. Your buyers cannot qualify for as much of a mortgage as they used to!!!
That's right, if your buyer has not locked a loan (and if they haven't signed a contract yet, guess what) they are more than likely not "pre-approved" anymore. That means you need to rethink your list of homes that you should be taking your client to this weekend.
The fact of the matter is that interest rates have risen as much … (7 comments)
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realtor advice: Are You Trying to Pay Off Your Mortgage Faster? If so, Read This...(Part 1) - 05/09/07 09:30 AM
Most Americans dream of owning their own home, and owning their home free and clear of a mortgage. While that may be a noble goal, they go about it the wrong way. To assist in emphasizing this fact, we will take a look at a couple who are trying to decide which loan is better for them. Here is their scenario...
John and Jane are in their early thirties and expect to be working for another 30 to 35 years before retiring. Traditionally, most couples in their position would have gone for the 30-year conventional home mortgage. John and Jane, however, have … (5 comments)
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realtor advice: Watch Out for Falling... - 05/08/07 01:28 AM
I was doing some research today and looking into the future of the mortgage market. It never seems to fail that technical indicators portray a good glimpse of the future, and with that in mind, I am off to predict the future of interest rates.
Many of you may know that I run another blog off my main mortgage site that posts updates on the mortgage market and provides locking guidance for those that choose to float. I get this information from several different resources as I do not like any one opinion, another thing many of you may already know about … (30 comments)
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realtor advice: Unique Opportunites Abound - You Just Need to Open Your Eyes - 05/03/07 09:02 AM
Well, most of you know that I returned to flying and I decided to continue my mortgage business. What you may not know is the opportunities it presents to grow my business. Hopefully, you will be able to see some opportunities to grow your business after reading this post.
Building relationships are a key to everyone's success. You need to network and then partner with those who you can build that relationship with. But have you ever thought aout the opportunities you have all around you when you are on vacation or other travel?
This may make you sick, or envious, but don't … (1 comments)
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realtor advice: Are America's Housing ATMs All Tapped Out? - 04/30/07 02:44 PM
Today saw the release of the US Savings rate, which improved from the last reports. It is still in negative territory at -.8%, but is up from -1.2%.
I know, many of you probably don't follow this number, and some may not even know what it means. Basically, its interpretation is that Americans continue to spend more money than they make, hence the negative number. It does leave out some information such as house appreciation (or depreciation).
What it means to us in the real estate market, especially those doing mortgages, is that there is still a major need for Americans to … (3 comments)
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realtor advice: Americans Just Can't Stop Spending - 02/01/07 12:39 PM
This morning, an inflationary telling report came out called the Core Personal Consumption Expenditure (PCE) Index. This report is one of the large contributors to determing the Fed Funds Rate movement and it came in at 2.2%, just higher that the 2% the Feds like. Nothing to worry about by itself as it showed more moderation of inflationary pressures.
The problem is another part of the report which measures the spending habits of Americans, called the personal savings rate. This number came out in the "scary" range at a rate of negative 1.0%. WHy is that scary? It is the lowest rate … (27 comments)
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realtor advice: Even the Wealthy Need Financial and Real Estate Education! - 01/24/07 12:07 PM
I was reviewing an article in the Wall Street Journal and how it highlighted the fact that even the wealthy are heading back to school to learn about how to manage their money. The article highlighted several courses at various colleges and some companies that offer specialized courses. The biggest question that arises is, "How do I know if my advisor is doing any good?"
Well, I cannot speak from a real estate agent perspective, but from a mortgage planner's perspective, this shows the window of opportunity is wide open. If you do not already offer classes, seminars or something of educational … (2 comments)
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realtor advice: Knowing When to Place Limits on Your Business - 01/20/07 11:13 PM
The New Year came in full force for me this year and I am faced with a dilema I am sure most of you would like to have. The problem is that I allowed myself to bite off more than I could chew. Actually all this happened last month which is why my blogging, comments, and free time disappeared for a while, except sporadic appearances. It is also the reason I am posting this late Saturday night.
What happened? While I do not know exactly what caused the rapid increase in my business as the year wound down, but I can say … (10 comments)
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realtor advice: Turbulence - How to avoid it - 12/13/06 09:51 PM
I was just reading and commenting on Karl Christen's post Good offense is always a better defense. As I was formulating my comment, it dawned on me to make this post about what I have learned to avoid turbulence while flying and how it applies to the turbulence he mentions regarding the real estate transaction.
While the turbulence Karl mentions does not directly relate to flying, there are things pilots do to help avoid turbulence, or at least minimize its effects. Therefore, the focus of this post is on what I do as a pilot and how you can use it in … (4 comments)
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realtor advice: How to Receive Your Retirement Money Now, Penalty Free! - 11/27/06 09:04 PM
Now that I am back from my AR rehab experience (which I will blog about later), I decided to start with a post about a little known concept regarding retirement accounts. The information below is for reference, education and added thought only. Seek appropriately qualified individuals for guidance specific to your siuation.
How can you possibly get your money withdrawn from your 401(k), IRA, or other retirement account without paying that dreaded 10% penalty and not wait until your 59 1/2 or older? Well, there is a way. It is called a 72(t) withdrawal and is also known as SEPP.
Where does … (4 comments)
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realtor advice: Interest Rates and Their Effect on Potential Homebuyers - 11/12/06 09:28 PM
When reviewing a survey that was conducted about a year ago, it reminded me of what really drives potential homebuyers to make that home purchase. In light of the fact interest rates may start rising again, what effect would that have on the real estate market during a recovery, or any time for that matter.
The survey, conducted by Lawyers.com, although small in comparison to other surveys, does highlight the reasons potential homebuyers primary motivators are in the purchase of a new home. And believe it or not, at the bottom of the list is what the interest rates are. In fact, interest … (9 comments)
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realtor advice: The Taxes are Coming...The Taxes are Coming... - 11/08/06 10:15 AM
OK, the polls are closed (and the recounts pending), but the Democrats have taken over the House and the Senate is still up for grabs. Leaving the issues other than taxes on the table, let's look at the drawbacks to this.
Historically speaking, this means higher taxes to come. The Democrats don't generally believe tax cuts help the economy and that the tax cuts in place should go away and/or the taxes should be raised to cover the deficit and whatever else.
Ok, We have a Republican President and let's assume the Senate does go Republican. How can the taxes be increased? Well, … (4 comments)
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realtor advice: Interest Rates - How Does it Affect Our Net Worth? - 11/07/06 09:12 AM
While reading a great post by Jeff Belonger titled The Myths about ZERO point mortgages instead of paying points upfront...... and it got me thinking, as he usually does. His post was great and showed clearly how if we go back to basic math, we can come up with good answers to his question. Sometimes simplicity is a good thing.
While creating my comment, and the fact that I love learning how things really work, that's due to my background, I realized something I hadn't thought about in a while. When we start factoring in all variables of the all-time favorite loan, the 30-Year … (16 comments)
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realtor advice: Today's Choices = Tomorrow's Results (Oh the Irony from History) - 11/07/06 06:21 AM
It has been said many a time that the choices we make today will determine our tomorrow. That is a very true statement and applies to what we do here in th Active Rain community as well.
Why did I decide to blog on a topic well known already? It is because of what I was reading yesterday. In my devotional yesterday, this was the topic. Yes, I try to start my day with a devotional, reading a small section of the Bible and then spending some time in prayer. That is who I am, and I am not trying to push … (8 comments)
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realtor advice: Telenovela Mortgage Advice - Facts - 10/30/06 08:01 AM
As promised, I watched the show (most of it anyways.) OK, a few things I will point out about my bias, then we will deal with the facts, then my conclusion (opinionated review).
My bias is that I do not like soap operas in general, and dislike telenovelas even more as their acting and plots seem rather cheesy even compared to American "soaps." I do not like the morals portrayed in general either. That being said, on to the FACTS...
I am going to start with the good stuff as there is some involved, then I will explain the bad. There are sections that are … (16 comments)
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realtor advice: Who Am I? - 10/09/06 09:32 PM
Some of you may have heard this before, but I liked it so much and believe we all can gain from keeping this in the forefront of our minds.
I am your constant companion. I am your greatest helper or heaviest burden. I will push you onward or drag you down to failure.I am completely at your commandHalf of the things you do you might just as well turn over to me and I will be able to do them quickly and correctly.I am easily managed - you must merely be firm with me.Show me exactly how you want something done and … (9 comments)
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Robert D. Ashby
Miramar,
FL
More about me…
Robert Ashby Photography
Address: 11758 SW 26th CT, Miramar, FL, 33025
Office Phone: (954) 674-6864
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