Health vs. Wealth - 05/31/08 12:19 PM
I was watching WNIT this morning it is the local public television channel, and they were highlighting Rich Dad, Poor Dad author Robert Kiyosaki.  He made an interesting statement that floored me. 
He said people spend their Health gaining Wealth, and then spend their Wealth gaining back their Health.  The sad truth is that they can spend their entire lifesavings gaining back that health.  I am a diabetic and have been for nearly two years or so.  I couldn't tell you the exact day that I found out.  It did not hit me like a ton of bricks, and the good … (15 comments)

FHA and the Single Woman - 05/31/08 11:00 AM
I cannot think of a better loan for a single person be it man or woman with the low downpayment, exceptional rates, and low upfront mortgage insurance premium.  Many people can buy a home for just as much as they are renting for now and with the tax savings many times it is cheaper on a yearly basis.  (I am not a tax consultant, please contact yours today)
Client #1 - recently divorced female, cosigned son's car loan 5 months ago, credit scores in the low 600's due to divorce complications.   Oh, did I mention she was switching jobs in the middle … (3 comments)

Rocky and the Bonds - 05/30/08 02:43 PM
I am sure that we all have seen Rocky.  You know the movies with Stallone.  Where the main character is a flawed but very human guy that boxes.  In the movies, he gives a beating, takes a beating then comes back to win. 
Well, welcome to the mortgage backed bond market this week, but this story does not seem to have a happy ending.  We got down early in the week, and it was a short trading week at that.  We kept getting knocked down and we would stumble a little then back down.  Well, it seemed like we were going to … (2 comments)

The Sky is Falling - 05/29/08 12:55 PM
If you have not been paying attention the mortgage backed bonds.  You are going to be in for a rude awakening this is no time to have clients on the fence.  We have fallen beneath the floor of support of the 200 day moving average.  Bonds have failed to rally and stocks are slumping as well.
The one lone bright spot out there is the GDP report which came in better than expected at 0.9% versuses expectiations of 0.6%.  So, we still have a modestly growing economy which is right where we want to be.  We don't want to be too … (1 comments)

Comfort Zone - 05/28/08 10:04 PM
"I only want people around me who can do the impossible."Elizabeth Arden (1878-1966)Canadian businesswoman, style mogul
I do not have time for people who spend all their time in the Comfort Zone, if all we ever did was be in our Zone.  We would still be living in our parents basement.  I am out of my Zone on a daily basis.  I go out on the vine since that is where the fruit is. 
I am tired of hearing that times are slow - No, they are not.  May was one of my best months in the last few "easy" years.  Oh, there … (2 comments)

Solutions... - 05/27/08 04:32 PM
"Don't find fault, find a remedy."Henry Ford (1863-1947) Founder of the Ford Motor Company
I once knew a guy that boastfully claimed that he could find fault in anything.  Notice, that I said "once".  I could not be friends with him anymore.  Nothing was ever good enough.   I have had employees in the past that nothing was ever good enough.  
I am not immune to it either, I am just as guilty as many of us, but I am taking a concerted effort to be better.  Just think what this market could be like if we made an effort to make it … (3 comments)

ID Theft: Who can you trust? - 05/26/08 11:40 AM
I had been sitting on this type of blog for sometime, but here recently this subject has been weighing on me.  I have always taken steps to protect my clients privacy.  Several years ago, we hired a private company from Valparaiso (that was recently featured on ABC 7 in Chicago) to come in and shred all of our documents.  I even have a shredder here in my office that I use to shred documents.  But, what I do not understand is why some of these companies are throwing away information.
I keep all of my files, including the files that never close.  They are in a box … (2 comments)

Powerful Marketing Words Part 1 - 05/24/08 10:35 PM
According to the WSJonline.com Podcast here are the words that are powerful marketing words.  I have written several blogs on the power of my iPod and the education that I get from it.  I hardly ever mindlessly listen to my radio anymore unless I just want to unplug and not think while I drive.
I heard this podcast and it just hit me, these are words that I have been trying to put in my advertising. 
On top of the list is
1. Free as in Free Reports
2. New  as in New Homes online
3. Easy
4. Secrets - 6 Credit … (5 comments)

Mad Mortgage Machine Week Recap - 05/24/08 09:25 PM
The 5.5% FNMA bond gained 16bp to close at $100.34.  The stock market continue to struggle that higher oil prices may continue as demand may be out growing supplies and production. Oil closed higher at the end of the day over $132 per barrel, and gas here in Northwest Indiana has hit $4.09 a gallon. 
There has been very little to cheer about in the housing sector and expectations for this morning's April Existing Homes Sales report were running low as a result. But, existing Homes Sales were reported slightly better than expected at an annual rate of 4.89 million … (0 comments)

The Power of a BCC: - 05/24/08 08:50 PM
I do a weekly Mortgage Market Recap and What's Ahed for the Week, and I email it to roughly 600 Agents and Brokers across Northwest Indiana Real Estatelandscape.  I blind copy everyone on the list.  So, no one knows who else is getting it.  I think it is courtesy to everyone on your list to broadcast their email around. 
I just received an email yesterday from someone that I do not know.  I really did not pay that much attention to it, but it had quite a few emails all in the "TO:" and the "CC:".  If I was unscrupulousand wanted to … (2 comments)

Bonds higher, Stocks lower and Thank you - 05/23/08 10:18 AM
The economy is  showing more signs of recession as high energy and gas costs are hitting the consumer. Oil is trading at $132 after hitting $135 a barrel yesterday. Stocks open lower and mortgage bonds are trading higher this morning in a shortened session - the market will close a t 2:00pm ET today.
I want to take this time to let all of our soldiers out there and anyone else who has suffered for my Freedom - THANK YOU - I do not take my freedom lightly.  I hve had friend and uncles serve in all branches of the military and it with great appreciation that I thank you … (1 comments)

LifeLock ID Protection Fails - 05/22/08 08:53 AM
WE all have seen the commercial where the guy offers up his own social security number to would be ID thieves.  Well, they won.  In a story posted on Yahoo this morning, the CEO acknowledges 87 attepts on his social security and 1 guy getting away with it.  His excuse is that the company did not go through the 3 credit bereuas. 
His service is $10 a month even though you can do it for free.  Which is what I do!  I had my class ring stolen nearly 8 years ago and it had my social security number on the inside … (5 comments)

80K Points - 05/18/08 07:34 PM
Last year, I made a concerted effort to be the top  Mortgage Consultant in Indiana on AR and in business.  While, I am still working both.  I know that it is just a matter of time before I am both.  I am not at 80,000 points and I am not stopping.  A bunch of mortgage brokers had a quick conference call about blogging.  I was not going to get on the call, but I decided to at the last moment. 
I announced my name and as the speaker was talking about the call and what was going to be on it.  … (2 comments)

Ecomomic Calender for week of May 18th. 2008 - 05/18/08 06:47 PM
WE have some moderate news coming out this week, and a big one is this Wednesday the 20th and that is the Federal Open Market Committee.  It consists of the seven Governors of the Federal Reserve Board and five Federal Reserve Bank presidents. The FOMC meets eight times a year in order to determine the near-term direction of monetary policy and the shanges in any monetary policy are announced immediately after the meeting. 
A second big news is the Initial Jobless claims this will have a moderate impact on the rates and this will come out on Thursday.  I think this will not be … (0 comments)

The Farmer's Market - 05/18/08 06:25 PM
Michigan City had a lot to offer on the weekends.  I used to be one of those people that would whine and moan that there was nothing to do on the weekends here in Michigan City.  Oh sure, we got the beach, but the water is pretty cold, and have you ever taken a 4 year old to the beach and not hve to get in the water with her.  Plus, she has no bady fat.  Her little lips turn blue in a matter of moments. 
I lve to get up on a Saturday morning grab the paper from the drive and … (0 comments)

Housing Starts and Bonds - Oh my - 05/16/08 10:47 AM
Housing starts and building permits come in better than expected.  A l;ot of the starts were for apartment complexs, and new home starts were still lower for the month of April, but this could really be the turn around we were looking for.  
Mortgage Bonds opened lower but have ganined a little since.  Stocks are battling the 200 day moving average, if they are pushed back bonds could rally and set us up for a great opportunity for some great northwest indiana refi's. 
There are still billions and billions of dollars to lend, you just need to find the right indiana mortgage broker to help you.  … (2 comments)

Bite into a Legend - 05/15/08 03:06 PM
I was struck the other day when I red the blog by the great Jeff and Grace Safrin about the great Tony's Saddle Shop just outside of Valparaiso here in Northwest Indiana.  What could I write about was nearly as equal or greater than that.  Then it hit me, like a ton of bricks.  No, I was not driving without hands again. 
It was Redamak's, the greatest burger in the world and if you are from the Chicagoland area.  You most certainly know about Redamak's.  You can have a pan fried burger with everything there as long as everything includes onion, pickles, … (1 comments)

We Mock - 05/13/08 03:10 PM
What we don't understand. 
I just got a call from one of my "no downpayment" signs.  Yes, I can still do No Downpayment and they are not the fast track into foreclosure.  It is a viable tool to help people who want to buy a house with little or no money down. 
Well, my new and approved client is getting her wish with little or no help from her agent, and this is someone that I have closed a loan with before in the past.  The agent told her the sign was just a sales gimmick to get them to call … (9 comments)

Making the sausage - 05/13/08 10:00 AM
"Do or do not. There is no try."YodaJedi master, from the "Star Wars" series
Core Retail Sales has come in much better than what was expected, and the mortgage backed bonds drop on the news. Stock futures are going from negative up to positive levels.  Gas and Oil are remaining quiet.  I hate think of the old saying, "it is always the calmest before the storm", but it seems the Fed are trying to do what it can do to shore up the dollar. 
I had a great day yesterday with some of my guerrilla marketing is paying off.  I doing some off the wall things … (0 comments)

Happy Late Mothers Day - 05/12/08 09:22 AM
I just saw this and I think they took that from my brother and I.  You would think 6 years apart would calm us down.  LoL, I am just kidding. 
Just enjoy the video and I am sure most of us with siblings can relate.  I hope all of you Mothers enjoyed your day and just a reminder that Fathers day is just around the corner and there are only 34 shopping days left for this event.  Just a reminder, I know a lot of you are last minute shoppers. 
 
Dave Woodson
… (1 comments)

The Bank vs. ME - 05/11/08 06:37 PM
I worked with this couple for 6 months helping them clean up their credit and get their life back in check and we closed on their loan last Thursday.  She has sent me several emails thanking God and Heaven for sending me.  Do you know what the local bank did?  Told them thanks come back when your score is higher and then we can help you - Maybe!
I had a Realtor send me a someone the other day,  We can't do anything for him right now, but 6 months from now when his lease is up and he is ready … (0 comments)

Foreclosure up in Lake and Porter Counties - 05/11/08 06:17 PM
There is a good article today on line from the NWI Times about foreclosures in the Region.  I have included a link and I am going to cut and paste some of the numbers. 
In Lake County, By June, 1, 885 homes will go on the auction block at the sheriff's monthly sale. Far more than were foreclosed during all of last year.  In all of last year, that beared repeating in my book.  A lawyer who represents some of the banks has informed for the civil division of the sherrifs department that they will be a lot busier in the next … (2 comments)

What Do You Listen to... - 05/09/08 09:35 PM
I have been toying with the idea of video.  So, I made my first one this week and I spend my first hour of the day deleting the bad scenes. 
I want to coach and be a motivational speaker someday.  I love to teach and educate my first time home buyers.  I hold monthly home buying seminars in my office already, and I am looking to add a radio show here very soon.  Oh, and the podcast is taking longer than I ever thought to get up and running. 
I love to learn.  Whenever, I am in my Ridgeline I listen to whatever, I can to learn.  … (5 comments)

The Empire Strikes Obama - 05/06/08 09:54 AM
I just voted, I voted early, I may vote often.  I need to do this fast as I am expected to be a call here in a few moments.  I am going to be on the air tonight talking about the days events in the election here in Indiana.  You can listen and watch me at www.justin.tv/dwoodson I will make sure my webcam is on.
Here is a funny clip that I just saw on youtube.  Wactch it as it is funny.
 
 
 
Dave Woodson
… (2 comments)

Mad Mortgage Machine Minute - Cinco de Mayo - 05/05/08 08:42 AM
Microsoft pulled back it's offer for Yahoo and of course Yahoo stock is retreating.  The mortgage backed bonds are opening higher already up 19bps points from the time that I did the morning video. 
It was a great weekend, I noticed that there are a lot more open houses in the past couple weeks as compared to last year and the FSBO's are getting in on the act.  I stopped by a few of those, but I am keeping what I do for them under my hat. 
Some economic news for the week ahead, the ISM Service Index, Crude Inventories … (0 comments)

Mad Mortgage Machine Minute - May 2, 2008 - 05/02/08 11:17 AM
Jobs Report Alert
With a net loss jobs of just 20k jobs, unemployment dips to 5% and the stock market expected 5.2%.  So the bonds fell like a rock on a knee jerk reaction a whopping 134bps, We have battled back today, but are still in the red, all of the damage has been done to the rate sheets.
 
If we do get back to positive number, I think we could see a reprice for the better which would make us all happy. 
As always, if you have any questions or comments please email me at dave@davewoodson.com or call me at (219)872-DAVE
 
I … (0 comments)

The My Childhood died and so did my Freedom - 05/02/08 11:06 AM
I am not trying to insensitive here not by any stretch of the imagination.  I still feel deep sorrow for the families that lost two sons and the other two that may be still battling with 25 year old wounds. 
It was early June when news of three boys being attacked and two killed with the killer still on the loose.  My days of heading out into the cornfields, woods, down the railroad tracks and riding my bike all over Springfield township alone in northern LaPorte county were over.  My mother checked up on my constantly.  We had time limits on when … (1 comments)