chico: Are you looking to purchase a home in Chico,California? - 03/31/08 11:51 AM
Are you looking to purchase a home in Chico, California?
If so, feel free to give me a call. I have a great network of local real estate professionals to help you through the home purchase and loan process.
… (0 comments)
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chico: A Prayer for Wayne Harder's Family - 11/27/07 05:48 PM
My thoughts and prayers go out to Wayne Harder's family and friends after a tragic car accident in Chico,California on Sunday evening. I had the privelage of talking with Wayne a few times and he was a good man and a leading example of what it means to be a community leader and Chico REALTOR®.
Respectfully,
Scott Gormley
… (7 comments)
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chico: Enloe Hospital Employee Benefit-Chico,California - 04/18/07 09:43 AM
$400 Appraisal Credit at the close of escrow on all Real Estate or Refinance loans!
In appreciation for the hard work that Enloe Hospital employees extend to the Chico,California community, I would like to offer my services as an employee benefit. My name is Scott Gormley and I'm the Broker/Owner of Oak Valley Mortgage, located in Chico,California.
I write weekly articles in the North Valley Real Estate Guide, put out by the Enterprise Record, labled "Mortgage News."
I write monthly articles in Inside Out magazine.
I was the 2006 Chairman of the Chico Association of Realtors Affiliatee Committee. The committee represents over 130 local businesses in … (0 comments)
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chico: Why I promote competitors in my own market... - 04/06/07 11:06 AM
Like Tony would say, "They'rrrrrreeeeee Grrrrrrrrrrrrrrreaaaaatttttt!"
Many would think I'm crazy. The purpose of business is to be profitable, right? But I think we have a larger obligation than simply looking at the dollars and cents at the bottom line. In the Real Estate and Lending business, there are clearly good apples and bad apples. Maybe one could say that is the case in any industry, but here is the difference....Real Estate is the largest decision that the average consumer will make in America. We have the power and choice to make it a pleasurable experience or a really bad nightmare! With that … (7 comments)
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chico: The Power of a Great Appraiser - 03/15/07 10:08 AM
I believe one of the most important people in the transaction to me as a Mortgage Broker is the Appraiser. But not just any old Appraiser, "A Great One!" There are times when I don't even meet a client and the Appraiser is the first person that a client meets. The interaction and personality of your Appraiser with the client can truly set the tone for your client of how well the transaction is going to go. When my Appraiser, Scotty Riemens visits a home, he is friendly and offers suggestions of things to look out for, such as the wood pile that was recently on the … (5 comments)
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chico: The Power of "Truth" and Seeking to Understand Your Clients! - 01/22/07 08:51 PM
I don't understand why many in my industry can't grab onto the "Power of Truth" and the need to understand a clients' needs! I have received several new calls this week from new and potential clients that are looking to refinance their homes from their once "all time low" payment to an increasing shocker. The trend is happening across the country. But, before I decide that it is the proper time to refinance, there are a few things to take into consideration.
1.) Is there a prepayment penalty on the home?
I brought this to a potential clients' attention and he said … (1 comments)
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chico: Demanding a Rate Over the Phone! - 01/18/07 11:25 AM
I received an interesting call yesterday, so I figured that I would share it for the world to see my response...Or atleast possible California clients and Associates :)
The potential client called me and started rambling about random things, I tried to keep some flow to the conversation. In the end, I question if I ended up on some Los Angeles radio station, where I was broadcasted across the state for everyone's humor, including my wife's.
With that said, here goes:
Caller: What are your rates?
Me: Sir, I need to get some information from you before we go through rates.
Caller: I'm looking for … (24 comments)
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chico: Home Loan Documentation Types - 01/16/07 11:56 AM
Are you wondering what types of documentation loans are available? Banks and investors have come up with a variety of loan types to help borrowers qualify easier into home loan and refinance products.
While some may be worried about being able to qualify for a home, you'll be amazed at the products available in the marketplace that you can take advantage of to purchase or refinance a home.
Feel free to contact me with your California Home Loan needs. I will go through all of your information with you and I'll be sure to match your particular scenario up with the products … (8 comments)
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chico: Taking it to the next level with a new client.. - 01/16/07 11:52 AM
I had a great sit-down today with a new client. She is a First Time Home Buyer that wanted to meet face to face with me...I love it! Back in the old days, transactions were only done in such ways. You could look a person in the eye, listen to their tone of speech and understand where they are coming from before you decide to do a transaction with them. With that being said, trusting a lender is everything in a Real Estate transaction! You open yourself up across all aspects of your life. For example:
Have you filed for bankruptcy?
Have you … (2 comments)
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chico: Comparing a Mortgage Broker to a Direct Lender - 01/12/07 11:53 AM
Reason: Representation
Mortgage Broker: Fiduciary duty to the borrower to get the best loan possible. Packaging the loan to highlight the strentghs of your loan scenario and minimizing the weaknesses.
Direct Lender: Represents the lender.
Reason: Customization
Mortgage Broker: Offers numerous programs from many lenders and investors at very competitive rates.
Direct Lender: Offers a limited number of programs that need to fit "their box."
Reason: Flexibility
Mortgage Broker: A "problem loan" can be moved from one lender to another, while obtaining the best rate available for your situation.
Direct Lender: Once a loan is denied, the borrower must try a different lender.
Reason: Certification
Mortgage Broker: Licensed by the Department … (28 comments)
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chico: Lowballing agent commissions and higballing asking prices! - 01/08/07 04:56 PM
Many asked me this year if there is a way to lowball a real estate agents' commission. My answer is very simple, "You get what you pay for!" If you were in need of a doctor and you were about to go into surgery, would you lowball the doctor? If you were about to go on trial and your liberty was at stake, would you lowball a lawyer? The same holds true for the services you receive in your homebuying and/or selling experience! In my opinion...If an agent is quickly willing to drop their commission without hesitation, it tells me this:
1.) The agent is … (3 comments)
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chico: Chico,California Housing Market Report For January 2007 - 01/02/07 06:13 PM
Hey Everyone,
Virgil Cole is an awesome Real Estate Agent at Prudential Real Estate in Chico, California and he puts together a comprehensive market report of what has been taking place in the local Chico market over the past few months. He spends alot of time putting together the data and I'm sure that many homeowners and investors in our market will be interested in seeing the results. Feel free to contact either of us if you are looking to purchase or refinance your home. We're here to help you!
Virgil Cole Scott Gormley
Have a great day!
Scott GormleyBroker/OwnerOak Valley Mortgage2006 Chico Assoc. of Realtors … (4 comments)
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chico: Going to bat for clients! - 12/15/06 05:19 PM
Each and everytime we get a new client at Oak Valley Mortgage or Beach Town Mortgage, we go to bat for our clients! What does that mean? Here's a list of things that you can expect from us...
1.) We look out for YOUR BEST INTERESTS! I.E. What are your goals? What are you trying to acheive with your Real Estate investing or personal finances?
2.) Setting you up to Win the game. That's right, win the game! It does no good to have random offers thrown at you if you wouldn't qualify for them to begin with! So, we study the pitches thrown in … (2 comments)
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chico: Going Beyond "The Rate..." - 12/14/06 11:56 AM
Everything in the mortgage industry is geared towards the rate. What are your rates? Who has the best rates? What are the rates doing?
I'm here to tell you that the mortgage industry goes far beyond what the rate is. The rate is just a number! Yes, a number the ultimately determines the amount that a client will pay on his/her mortgage every month...but it still goes deeper than that. For example, "Does the rate really matter if you don't get the loan to begin with?"
The mortgage industry is about people. With that, it's about asking questions and understanding the goals, … (21 comments)
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chico: What are lenders really looking for? - 11/02/06 10:53 AM
Lenders will initially look at:
Employment
Income
Assets
Some kind of credit
Employment - Employment is a critical part of the mortgage application. Being employed continuously for the past two years is helpful. Being in the same line of work is preferred, since it shows that you have been consistent in that field. There are loan programs out there that DO NOT REQUIRE EMPLOYMENT history, however, the cost of the loan is generally higher, with a higher interest rate and the need for “compensating factors.” Compensating factors would include a large down payment, strong assets such as stocks or cash in the bank … (1 comments)
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chico: 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)
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chico: 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)
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chico: 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)
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chico: 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)
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chico: 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)
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