Back to the Basics - 10/30/06 01:10 PM

In the Real Estate industry, I think it is very easy for everyone to get distracted with all of the "bells and whistles" out there. I believe that many have lost focus of the important things that REALLY DO MATTER. What do our clients care about most? I propose, going back to the basics...
Rule Number 1: Listen to your clients! We have 2 ears and 1 mouth for a reason. Understanding what their goals and objectives are should be our primary objective. All too often, we take our own goals and objectives into account and lose focus on who we are … (0 comments)

Over Your Building Budget? - 10/27/06 12:41 PM

I get phone calls from homebuilders from time to time that are in distraught. They sold a home that they owned. Took that cash and decided to build their own dream home after purchasing the land and putting the plans together. The plans get approved by the planning commission or other local agency that controls the building of homes in their community and they are ready to move forward. After 6 months, they are out on their timeframe, budget and new home. What is one to do? First off, come up with a new gameplan! Investors are out there to help … (4 comments)

Do You Know Everything? - 10/27/06 11:49 AM

I don't claim to know everything. In fact, you can't know everything! The President has advisors as do other major figures. This is why I love Active Rain. I'm straightforward with my clients "from the get go" and let them know that if I don't have an answer to their question, I will get back to them with the right answer by the end of the day at the latest...usually within an hour. I have learned over the course of time that your clients appreciate your honesty and hard work when you lead them in the correct direction. So many times, … (0 comments)

Personal Growth - 10/26/06 12:25 PM

I think personal growth is one of the most important things that we can do in our lives. If you stop learning and think you "know it all", you're dupped! That's right, dupped!
 
Yesterday I  went and picked up a book at the mall that I have been meaning to pick up for some time now, called Rich Dad, Poor Dad by Robert Kiyosaki and Sharon Lechter. I do far more than just loans for my clients. Many of them ask me about financial advice and personal decisions that could impact their finances for a long time. This is why I read books such … (4 comments)

Dropping Like Flies? - 10/26/06 11:46 AM

Have you noticed that agents and lenders have been dropping like flies in you neck of the woods? Fortunately, the good agents and lenders in the Real Estate business understand that there will be slow times. But how will they be slow? If you had 25 deals that went through your office a month with 30 agents and now you have 20 deals going through your office with 15 agents, who is getting more business? The good agents recognize that even though business slows down, the proportion of agents or lenders to deals that closes actually works out in your favor! During the refinance … (6 comments)

Baby, I Need Your Lovin! - 10/25/06 01:42 PM
 
I admit it, I'm on a baby binge. My whole life right now, is focused on babies! Babies in the mall, babies at the grocery store, babies on television...Yup, babies, babies, babies....We have our first one on the way in a few weeks and I'm gearing up for it! Am I scared, nah. Anxious? Yea! I feel like my wife and I are already getting ready for it. We've woken up at the same time, around 3am. We turn on the tv and yup, you guessed it. The Baby Story show! We're getting kicks and elbows and all of the good … (2 comments)

As the Donald would say, "You're Fired!!" - 10/25/06 01:16 PM

I was reading the Orange County, California Register this morning and it said that there are going to be some major changes in the Mortgage business. Countrywide is claiming that it will let go of 2,500 employees by the end of the year and Ameriquest, who is well known in California, will be letting go 1/3 of it's entire staff, which was over 3,600 employees! Wow! With loan applications slowing down, the "big boys" are starting to buckle down and reduce their costs to improve profit margins. The article claimed that many of the little fish in the industry, IE: me...will … (1 comments)

Property Auctions - 10/25/06 12:57 PM
I have been seeing alot of talk lately about properties going on auction. What use to be a place for foreclosures and trustee sales is now becoming mainstream for home sellers as a method to eliminate time restrictions. Coldwell Banker just signed a nationwide contract with a major auctioneer, making their properties available for aution in both "live" and "online auctions", if their clients choose to use this method. Many are saying that if you don't offer such services to your clients shortly, you will be behind on the times! Homesellers have two avenues that they can go. They can choose to … (1 comments)

Financial Literacy Event - 10/21/06 06:31 PM
We just finished our Financial Literacy Event on the Chico State campus and I feel that it was a success. We went through several topics, to include:
Credit Reports
Utilizing Credit
Investing
The Time Value of Money
Starting a Business
We conducted the seminar for the college students at California State University Chico as a way to help them understand these important topics to be able to make better decisions about what they do with their money. I figure if we helped just one of them make better decisions...then the event was a success! All too often in the mortgage industry, we come across clients that have … (4 comments)

Love Thy Neighborhood - 10/21/06 02:30 AM
 
We just moved into a new community and it has been an amazing experience so far. The vibe that you get off of a new development can be pretty cool! The home is a "starter home community", with new young families that are in the same boat as us. New mommies walking down the streets together with their new infants, children playing in the streets and an average of 2 basketball hoops on each block. I'm enjoying getting to know each of my new neighbors, offering help with moving in if needed. I've already borrowed the neighbors lawnmower twice, because it … (1 comments)

Debit Cards and YOUR CREDIT! - 10/20/06 11:40 AM

Here is a common misconception that many believe to be true! Since your debit card has a VISA, MASTERCARD or other major logo, you are improving your credit. This is not true! Debit cards do not get reported to the credit agencies like true credit cards do. I feel that this is one of the biggest misconceptions in the United States and it's also a big problem! Why is it a big problem? Because millions of consumers on a daily basis are utilizing these debit cards to make purchases, thinking that they are establishing POSITIVE CREDIT for themselves, when in fact they … (0 comments)

The Mind is a Powerful Thing - 10/20/06 11:20 AM

One of my favorite books is Think and Grow Rich by Napoleon Hill. In th book he states, "Anything that the mind can conceive and believe can achieve." How true! All thoughts do start with an idea. This is why I love networks and websites such as Active Rain, where you can muster up new ideas from others. Sometimes, I get so caught up in the bubble of my world that it's great to get out there and see what others have been doing and work off of that to start with an idea. Then, it's the believing stage. When you come … (4 comments)

Crossing the Line - 10/20/06 02:17 AM

I've learned over the course of time that the entire Real Estate process, whether a person is purchasing, selling or refinancing a home has many emotions on the table. Sometimes, clients will get frusterated with the performance of an agent or loan officer and crosses the line with you. How so? I've heard of other loan officers and agents receiving personal threats or being called names with lots of four letter words behind it. To me, this is simply unacceptable! With how much work and effort most of us put into our clients on a daily basis, there should be no … (2 comments)

Signing Loan Docs - 10/19/06 01:08 PM

I'm sure both consumers and Real Estate professionals can identify with this topic, "Signing Loan Documents!"
Have you ever looked through an entire set of disclosures and gotten lost on sentence 2? I believe that the documents are designed in such a way that they know by human nature, you won't read through all of them! You are making one of the largest decisions of you life and you're sitting across from an escrow officer in a nice office. It's close to noon and you're hungry...You simply want the house and you're content enough to get it, regardless of what verbiage is in the documents. For all that … (1 comments)

The Family - 10/19/06 12:04 PM

This blog has nothing to do with Real Estate, but, it's my way of letting people know that I'm an actual human and not just a Real Estate, blogging robot. Or even better than that, a Real Estate Professional that pays someone else good money to blog for them. Imagine that, paying someone else to blog for you! Blows my mind. The stuff that you learn on this website far outweigh the benefits of simply having a presence on it or any other blog for that matter. Anyhow, things are getting down to the wire with me having our first child. … (2 comments)

Free Financial Workshop in Chico on 10/21 @ CSU CHICO! - 10/17/06 12:35 PM
 
"Grow A Future"
ATTENTION CHICO, CALIFORNIA RESIDENTS!
Are you interested in attending an awesome and FREE Financial Workshop?When: Saturday, October 21st 2006 between 11am - 2pmWhere: California State University, Chico Room: BMU 210
This event is sporsored by Delta Sigma Pi, a Professional Business Fraternity
Topics will include:1. Managing your FICO Score2. Credit3. Debt: Secure and Insecure4. Personal Finance5. Savings and Investment
Presenters:
Scott Gormley, Broker/Owner-Oak Valley Mortgage
Steve Hoke, VP-Banc America Investments
Mike Dailey, Branch Manager-Bank of America and City Council Candidate
To RSVP, please call me asap!
Don't miss out, this should be an awesome event!
Here is a piece of my presentation, so you can get an idea of what … (0 comments)

Market Update For Monday 10/16 - 10/16/06 03:05 PM
 
Mon Oct 16th Market DirectionRates areMoving slightly lower Rate VolatilityLow Interest Rate TrendsLong Term (4-6 weeks)Up Short Term (1-2 weeks)FlatMortgage Point ChangeSecurityChange30 Year Fixed-.115 Year Fixed-.1 U.S. Treasury RatesSecurityChangeYield30 YR Bond-.024.91%10 YR Note-.024.78%National Average Mortgage RatesWeek Ending Oct 12 2006 12:00AMMortgageRatePoints30 Year Fixed6.37%.515 Year Fixed6.06%.51 Year Adjustable5.56%.7Key Interest Rates1 Year T-Bill4.9%11th District COFI4.18%Prime Rate8.25%Discount Rate6.25%Fed Funds Rate5.24% Bond prices trimmed early session gains Monday but were still higherafter a regional manufacturing survey came in stronger than originallyexpected. Benchmark 10-year notes traded up +4/32 for a yield of 4.78 percent,down from 4.80 percent late Friday. The 30-year rose +8/32 or $2.50 for a yield of … (0 comments)

Builder Incentives Getting Aggressive - 10/15/06 10:42 AM

I have noticed a new trend with California home builders, many of them are offering bigger incentives to buyers to buy their new homes. As of recent, I saw a commercial that proclaimed, "no payments for the first 6 months!" The builder was Centex homes and I called the phone number for details. The payments are deferred for the first 6 months and added on the "back end" of the loan or "in the rear." So, you do get some payment relief as a first time home buyer for the first 6 months, but you ultimatly pay for it over the … (3 comments)

Ice Cream or Buying a Home? - 10/15/06 10:01 AM
 
So I got a funny email tonight...It's funny how your advertising works out sometimes. I advertise on the bottom page of every page of the local coupon guide in our area. When the person called, I answered the phone as my typical "Oak Valley Mortgage, this is Scott." It caught both of us off guard, because my phone numer appears directly below the Dairy Queen advertisement. I told him that I'm sorry, but this is Oak Valley Mortgage and not Dairy Queen. At that point, I told him to enjoy his ice cream, DQ should be open till 10 or so. … (4 comments)

Unfair Real Estate Competition? - 10/14/06 01:14 PM
 
Federal regulators are pursuing claims against two real estate groups in Michigan for not allowing discount brokers full access to their online multiple listing services! The action came after 5 other states allowed discount brokers full access to their online MLS. The FTC said, "the enforcement actions are intended to send a signal to real estate brokerages nationwide that discount or nontraditional brokerages should be allowed equal access to the combined online listings of homes for sale in local markets."
"The rules these brokers made drove up costs and reduced choice for consumers, and they violated federal law," said FTC Competition … (2 comments)

California Department of Real Estate Recovery Account - 10/14/06 12:18 PM
 
From time to time, I like to refresh my memory of various topics or try to get answers to questions that I may have at the California Department of Real Estate website. While browsing through the website, I came across the Recovery Account, which is a "victim's fund." The account has been around since July 1st of 1964. Since it's inception, nearly $33,000,000 has been paid to members of the public to compensate people that were defrauded by an individual that is licensed be the California DRE. From it's inception till June of 2002, there have been 3,850 applications filed and … (2 comments)

Friday the 13th! - 10/13/06 09:08 AM

I just realized that today is one of the best days of the year! That's right, Friday the 13. A day for us where no matter what happens, we get to watch Jason reruns on television at the end of the day with some popcorn and relive the 80's terrifying films! What's in a date? A lot! I think it's just like a full moon or a Halloween night! There is an airy feeling in the air and some interesting stuff usually happens. I'm just wondering when and where? Will it be at my presenatation today before all of the new … (4 comments)

Chili Cookoff! - 10/12/06 02:51 PM

I'm constantly thinking of new ways to do great things within the great community that I live in and at the same time, help to promote our business. I was thinking about it last night, and I use to have a blast going to chili or chowder cookoffs! So, I have made a personal decision to get an annual cookoff put together in our community to raise money for charity,promote the business and have a great time in the community! Have any of you done anything of this sort in the past? I would love to hear new ideas or hearing … (3 comments)

Above Average Realtor - 10/11/06 02:50 PM

Ok, so I need to tell you a short story about Sheree Darner, a Realtor in Orange County that I have done business with. My fiance' purchased a condo with her going back over a year ago. Nik was so excited to see her first home that she asked Sheree if she could get the keys to the property early to go inside an see her new place and clean up the unit. Sheree agreed to let her in to do so. To Nik's suprise, Sheree showed up with a bunch of cleaning products, a mop and all sorts of stuff. … (6 comments)

Beautiful, Spacious, 3 Room Bomb Shelter For Sale - 10/10/06 12:41 PM
 

This is one type of Real Estate that I pray none of us need to buy or sell! You can build your own safe room,shelter or panic room to protect your family from fire,security threats,natural disasters,earthquakes,hurricanes,tornadoes,bio chemical,nuclear and terroist threats. What a scary world we live in! With the nuclear bomb test of North Korea occuring recently, scary things are happening in our world. I'm wondering how this will affect the global economy, balance of powers in Asia and the US housing market.  I know this is not a political venue, so we will keep those comments for a different place on the internet. I simply … (4 comments)

Monkeying Around - 10/10/06 11:33 AM

Keeping clear lines of communication open with everyone involved in a transaction can make all the difference with it going smoothly and successful or falling apart before your eyes. But when both Real Estate professionals and/or clients start monkeying around and not telling you the truth only to be found out later, it makes for a bad situation. Either one person doesn't hear something that they should have, and they come back later to say that they were not told that. A person doesn't see something that they should have, for example a broken something in the house that should have … (9 comments)

la Catedral - 10/09/06 12:16 PM

One of the highlights of la Catedral is the tomb of Christopher Columbus, that quintessential of entrepnreeurs who provided the vision and created, single-handedly, the catalyst for reconnecting two different streams of humanity and their respective cultures, and the bridging of Europe and the near-East with the Americas. If any of you have the opportunity to go and see it for yourself, I highly recommend it! What an awesome experience to see how it all started just a short time ago!
Scott GormleyBroker/OwnerOak Valley Mortgage2006 Chico Assoc. of Realtors Affiliate ChairmanDirect: 530.592.8362Fax: 530.267.5555Website: http://www.CALoan.com
Blog: http://activerain.com/blogs/lendingmagician
"You find the perfect home, we'll find the … (1 comments)

Where It All Started - 10/09/06 12:08 PM

I know this is a Real Estate blog, but since today is a bank holiday and I can't seem to get much work done, I figured that I would make a tribute today to Christopher Columbus Day. I went backpacking in Europe a few years ago and I lived in Spain. Of all of the places that we visited in Europe, one of my favorites was a place called The Alcazar and Meztique (a mosque later converted into a Cathedral) It was here at the Alcazar, that Christopher Columbus (aka Cristobal Colon) presented to King Ferdinand and Queen Isabella his grand … (0 comments)

Columbus Day - 10/09/06 11:35 AM

So I was making my phone calls for the day and sending out my emails when I had this weird feeling. A feeling like no one wanted to talk to me for the day! I checked my email and sent myself one to make sure that my email was working.....it was...Then a friend called me up and wished me a Happy Columbus Day! Ahhhhh Hahhh!! Today is a bank holiday :) Now I feel better and don't feel like I have the plague from back then. So to all of you on AR today, enjoy holiday off. If you can get … (4 comments)

Click Phone Agent - 10/07/06 12:19 PM
 
Hey Everyone,
I ran across this service a few days ago and I'm wondering if any Active Rain members have had experiences with the service. I'm considering using the service on my website. The service is called Click Phone Agent and it is exclusively ofr Real Estate Professionals. The idea behind it is that a person is on your website and they want to talk to you. All the person needs to do is click on the link and type in their phone number. The system will then call you, the agent. The potential client's phone will ring and you will be on … (3 comments)

The Wonderful World of eFax - 10/07/06 12:02 PM
 
Fact: Real Estate = LOTS OF PAPERWORK
Are you tired of having loose papers all around your desk? Are you tired of faxing paperwork to someone else that you just received by yourself, spending valuable time standing by the fax. To me, this is a thing of the past! I have been using a service called efax for nearly 2 years now, and there's no bones about it...IT'S GREAT! When I receive faxes, the fax is sent directly into my email account! From there, I can email the documents to anyone that I please. This great service has saved me and I … (6 comments)

The BIG EVENT!! - 10/06/06 08:57 PM
 
 Well, I'm pretty much through my first year as a BIG for Big Brothers Big Sisters and it has been an amazing experience so far! I knew growing up that it was something that I wanted to be involved in and I'm happy that I just decided to go for it. My little is a great kid and we've been able to do some great things together so far! If you are considering being a big, I highly recommend it! There are so many children out there today for all different backgrounds that could benefit from a positive role model!
In Chico, California, we have the BIG … (2 comments)

Chico Fall Mixer - 10/05/06 10:44 AM

Ok, so twice a year, the "Affiliates" of our local Board of Realtors host a mixer for the Realtors and Affiliates. After a few months of preperation, tonight is the night that I'm on the spot. I'm the Chairman of the Affiliate Committee and I'm in charge of the nights events. There should be somewheres between 100-150 people at the event, so I'm crossing my fingers for a good turnout and "vibe." It is being held at Market Cafe at 1387 East 8th Street. Phone: 530-892-2332 
We have hired a band (lead is also a Realtor, Mike Wiegert) and we worked out a wine tasting. We will be charging $5 for an unlimited tasting. The … (2 comments)

Rome Wasn't Built In A Day My Son! - 10/04/06 01:03 AM

I have to admit that I get frustrated in the Real Estate business from time to time. I have now had the mortgage company for 2 years and everyday seems like a new battle. My dad has been in the mortgage business for 29 years now and he has been a great inspiration and role model for me, taking me under his wing. This morning, he quoted out one of his random thoughts which helped to ground me again. He said, "Rome wasn't built in a day my son!" Oh how true. In a world where we expect instant gratification, one can … (2 comments)

Thank You Soldier - 10/02/06 09:32 AM

I don't know your name, but I know who you are
You protect our great Nation and represent a white star
A white star on our flag it is don't you see
To put your life on the line for my liberty
Liberty such as this, to do as I please
Where others in the world don't have such opportunities
To network with others and build a business of trust
I owe this to you and it is a must 
Now go on your mission and may GOD protect you
And know what I say is right and true
You are in my prayers every single day
Till your safe … (2 comments)

Are Loan Officers Really Villains? - 10/02/06 08:00 AM
 
After reading the post by Derek and Mariana Wagner and noticing that Loan Officers were number 2 on the top 5 list of people that people hate to deal with, I cringed! I thought to myself, "ME?" Is that the persona that I want placed on myself? Holding a stick of dynamite and just waiting for the right time to blow it and do people and the Real Estate community harm! I'm here to tell you that as in any profession, there is good and evil. I have seen many "professional" people in the mortgage business that were there during the … (6 comments)

California Home Loans~100% in 1 Loan with NO MORTGAGE INSURANCE! - 10/01/06 10:50 AM

                                                     Hey California!
Are you tired of your second mortgage with a high interest rate? 
Are you looking to get 100% financing with 1 loan and NO PRIVATE MORTGAGE INSURANCE?
Give us a call and we'll see if your scenario matches some of the great new home loans products that have just recently hit the Mortgage Market!
You can use them on:
Owner Occupied
Second Homes
Investment Properties
With FICO scores as low as 620!
So go on, give us a call today!

Scott Gormley
Broker/Owner
Oak Valley Mortgage
Direct: 530.592.8362
Website: CALoan.com
Email: Scott@OakValleyMortgage
"You Find The Perfect Home, We'll Find The Perfect Loan!" 
… (1 comments)

A Night Out - 10/01/06 10:36 AM

After going through an entire transaction with my clients, I always like to get them a gift certificate to their favorite local restaurant. Buying or refinancing a home can be challenging sometimes and the stress that it puts on a relationship can be hard. I find that there is no better way to show my appreciation to my clients than to send them on a nice dinner to their favorite setting to be able to celebrate the end of a 3 to 4 week transaction. In the long run, referrals are more likely to come to you and the clients will … (3 comments)

 

Scott Gormley

Chico, CA

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Oak Valley Mortgage-California Home Loans and Refinancing

Cell Phone: (530) 592-8362

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