Pat & Sharon Mistowski's Blog

Worst cities to spend Valentine’s Day

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Thu, 14 Feb 2013 08:24:50 -0800

We did some research into the worst cities in which to spend the 364 days leading up to Valentine’s Day so that you, our readers, can safely avoid them. That’s right: we found the cities that, by the numbers, are the worst in the nation for dating, whether the issue is that most people in these cities are already married or that the cost of living just makes it too expensive to go out at all. If you happen to be wondering what went wrong this Valentine’s Day and you live in one of these three places, don’t worry: it’s not you, but it could be where you choose to hang your hat instead.

Medford, Oregon, came in third on the list of cities that are terrible for dating. Less than half of the adults in the entire area are unmarried, and the financial situation in the area is not particularly good either. In fact, median household income is 21.8 percent lower than the national level. Add to that that Medford’s date-night tab of $41.51 for the classic “dinner-and-a-movie” date (pizza, show tickets, and a bottle of wine) is the highest in the country and you have a difficult dating situation on your hands.

Second on the list is Morristown, Tennessee, one of five Tennessee cities on the “top 20” list for worst places to date. More than 56 percent of the population is married, which cuts down on the dating pool dramatically, and low pay prevents date nights from being particularly affordable, as well. Date-night in Morristown costs $38.98.

If you’re feeling discouraged at this point, then just be glad that you don’t live in the number-one-worst city for dating in the U.S., Yuma, Arizona. Unfortunately, dating appears to be one of Yuma’s lesser issues. The city also has the nation’s worst unemployment rate (27.3 percent) and that number is rising yearly rather than falling. On top of that, cost of living in Yuma is higher than the national average and there are fewer singles in Yuma than anywhere else in the country[1].

Happy Valentine's Day where ever you live!!

Rates increased today !

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Mon, 11 Feb 2013 07:34:51 -0800

Today we will open 22bps lower than we ended Friday. That
means we will open at 103.11 after closing at 103.33. This was due
to the bond rollover.

What is a Bond Rollover?

Well, it's an event that happens around the 10th of every month at
which time the current month's coupon is closed out and any new
loans are placed with next months coupon.

PLAIN ENGLISH:

When lenders are selling the mortgages that we originators close,
they are selling them forward to be delivered. So if you close a loan
in February, they are pricing that into March's coupon. The Rollover
is when we start promising coupons to be delivered into the next
coupon, in our example's sake for April. There are multiple coupons
running at a time (confusing isn't it?) so we adjust our tracking to the
proper coupon. The new price is what investors are paying for that
month's coupon. We don't have to worry about that affecting the rate
sheet, that is the bottom line.

Are you ready for these FHA Loan changes?

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Mon, 11 Feb 2013 07:17:46 -0800

Are you ready for these FHA Loan changes?

With FHA Mortgagee letter 2013-04, HUD has dramatically changed the costs associated with obtaining and retaining an FHA loan. Starting with FHA case numbers assigned April 1st, 2013, the cost of annual mortgage insurance will increase. Starting June 1st, 2013, the length of time that this mortgage insurance will apply to a loan will go from 5 years to the loan term - as long as 30 years!

Have a buyer still on the fence? Share this -

This Week's Mortgage Rates Forecast

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Mon, 28 Jan 2013 09:00:18 -0800

This Week's Mortgage Rates Forecast
Risks Favor: LOCKING
This week the risks still favor locking, as we see a new baseline for technical indicators that rates will continue to get worse. Economic data on the calendar will cause lots of movement, with lots of data including the FOMC policy statement on Wednesday that will be a market mover. Consumers who choose to try and wait it out, trying to achieve the best rates that we have seen in the past, will likely pay for that mistake. All technical indicators point to locking in interest rates before we see continued rate erosion. How we end the week will be especially important. Again, we must emphasize that consumers need to see the risks for trying to obtain better rates are much higher than the potential rewards they may see. All technical and fundamental indicators point to locking in rates as soon as possible until we see a reversal.

ratea are on the climb -

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Mon, 28 Jan 2013 07:08:40 -0800

Lender pricing should start off worse today Monday the 28th, 2013.

House Auctions

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Wed, 23 Jan 2013 07:02:21 -0800

Observation Mode:

If you want to buy properties at auction but have never done so before, consider attending a small auction as an observer to get a feel for how the process works. This will help you feel more comfortable with the bidding process when you are ready to participate.

Rates are stable this week

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Tue, 22 Jan 2013 07:12:07 -0800

Nothing is Impossible

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Mon, 21 Jan 2013 13:04:50 -0800

Nothing is impossible to remove from a credit report if that information is biased, misleading, inaccurate, incomplete, or unverifiable!

In fact, information from bankruptcies, foreclosures and the like has been removed thousands of times from credit reports.

Although these actions are very negative listings, the severity of them has little to do with getting them removed. It has more to do with the bureaucracy of the credit bureaus!

So, do not let any one tell you that a negative item cannot be removed if it is questionable!

Pat & Sharon Mistowski

Interest rates increased

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Fri, 18 Jan 2013 07:38:30 -0800

Happy Dance - For Now

Yesterday interest rates increased, today starting a little better as the bond and mortgage markets remain in tight ranges. While the technical’s continue to hold bearish biases there is nothing out there now that is likely to drive interest rates in either direction.

The debt ceiling debates, the gridlock in Washington, and mixed signals on the status of the economy and its future are keeping markets in check. The take away now is that rates are unlikely to decline or increase much after the recent increases.

Let Google Do the Math

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Fri, 11 Jan 2013 07:37:12 -0800

I love Google! They have so many tools and gadgets.

Sometimes you need a math problem solved and you don't have your calculator handy. If you open up Google, you can put math problems right in the search bar and it will give you the solution! It gives you the answers for very simple equations like addition, subtraction, multiplication, and division, but it also gives the answer for very complicated math problems like calculus or trigonometry. How cool is that?

If you type 67 X 37 = then hit the enter button up pops the answer which is 2,479. You can use it anywhere you have access to a computer.

Pat & Sharon Mistowski

Short Sale - For the Home Owner

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Tue, 08 Jan 2013 13:35:52 -0800

Always Ask:

When you are negotiating a short sale, always remember to request that the lender release you of liability on the remaining loan balance. Most lenders will do this, but not unless you ask for it and get it in writing. Fail on this and years later that balance could come back to haunt you.

Credit Repair Myth #9: Deleted Negative Items Will Reappear On My Credit Report

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Fri, 04 Jan 2013 12:47:09 -0800

Once again, nonsense! This myth has been spread by the credit bureaus through the media.

In fact, credit-reporting agencies often temporarily delete negative listings if they have not heard from your creditor for 30 days since you disputed an item.

Now, if your creditor decides to submit a verification a week or more later, then that item will be re-inserted (called a "soft delete").

However, in most cases, the creditor does nothing, and the negative item is permanently deleted from your file.

Note: If your creditor verifies the negative item, it can still be deleted later in the challenge process.

Mortgage Rates End Week At Best Levels, But Risks Persist

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Fri, 28 Dec 2012 14:06:53 -0800

Mortgage rates continued a moderate trend of improvement from mid-week, bringing rates to their best levels of the week on Friday. All of the recent day-over-day changes in rates have taken place on quite a small scale historically as broader markets stay exceptionally contained ahead of the Fiscal Cliff deadline. Conventional 30yr Fixed Best-Execution rates are still widely viable at 3.375%, but 3 days of minor improvements brings 3.25% increasingly back into view.

Looking good for next year....

Identity Theft Secret

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Thu, 20 Dec 2012 07:21:30 -0800

You are probably wondering what you should do if your identity has been stolen. First, call the 3 national credit reporting organizations immediately, and place a fraud alert on your name and Social Security number. This alert means that any company that checks your credit knows your information was stolen, and they have to contact you by phone to authorize new credit. This prevents most of the damage that can ruin you and could stop the criminals dead in their tracks. Many companies do not advertise this, since most just want you to sign up for some sort of protection plan by having you pay large amounts of unnecessary money. Until our next lesson,

Pat & Sharon Mistowski

Undercover Condo Investigations:

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Wed, 19 Dec 2012 09:35:20 -0800

We’ve all heard horror stories about HOA fees, but these days condo purchases can come with something worse: looming one-time fees to be used on specific projects. Before you purchase a condo, do some digging into the condo association’s history, budget, and any upcoming repairs. This will help you be prepared for any surprise costs associated with your purchase.

Thinking about paying off a debt to help your credit? keep Reading !

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Mon, 17 Dec 2012 17:02:23 -0800

Oddly enough, when you pay off a debt, it can actually hurt your credit! Here is the explanation: On your credit report, negative items are allowed to stay for a maximum of seven years (except for bankruptcy which can stay for a maximum of ten years). So, let us assume you have a charge off or a collection account, etc. When you pay these debts off, they will be marked as "paid charge off," "satisfied judgment," "paid was xxx days late," etc. Sounds good, right? Except in the topsy-turvy world of credit reporting, this is still considered very negative and, to creditors, looks like the agency had to put you in a headlock in order to get you to pay the account! So, even though you had every good intention, your credit rating ends up damaged! The best way to avoid this ridiculous situation is to use a reputable credit-repair professional; they will know how to "work the system" so such nonsense does not occur.

Easy Sweet Tea - Because It's Hot !

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Sun, 29 Jul 2012 17:29:24 -0700

With the weather getting warmer, here's a great refreshing beverage you can enjoy:

Easy Sweet Tea

- 3 family-size tea bags, or
  10 single-serving tea bags
- 1.5 cup sugar
- A pinch (1/8 tsp) baking soda
  (removes bitterness and darkens
  the brewed tea)
- 1 gallon purified water

In a small pot, boil 4 cups of the water. Add baking soda and tea bags. Turn off heat and cover. Allow the tea bags to steep for 10 minutes. Remove tea bags and pour the tea into a gallon-sized pitcher. Add sugar and stir until fully dissolved. Add the remaining water to the pitcher and refrigerate until cold.

Pour into glasses filled with ice and garnish with lemon wedges.

No stranger to professional kitchens, Kirk Leins currently devotes most of his time to cooking instruction, food writing, and producing television. You can visit Kirk's website at www.NoTimeToCook.com

Urban Legends & Internet Scams

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Wed, 25 Jul 2012 18:43:22 -0700

Urban Legends & Internet Scams
Sorting Fact from Fiction

Urban legends have been a part of popular culture for years. We've all heard suspicious stories that supposedly happened to a "friend of a friend" but which couldn't be verified. Remember the story about Mikey, the Life® cereal spokes child, whose stomach allegedly exploded from mixing Pop Rocks and soda?*

The Internet has added a new twist to the urban legend phenomenon by making these stories easy to spread to a large audience over a short amount of time. What's worse, these stories are often distributed in the form of a plea for help from an unfortunate victim who could be saved if you just contributed a few dollars.

After the tsunami disaster, several fraudulent emails were circulated, some of which contained links to phony charity websites. The same problem occurred after September 11th. Whether it's a plea for money, an email containing false links, or a virus alert that isn't true, these scams have made it difficult to trust anything you hear via email. Here are some resources that can assist you with discerning what's real and what's not!

Emails - The next time you receive a dire virus warning or a chain email promising great wealth, visit http://hoaxbusters.org. This website contains information about over a dozen different categories of hoaxes, ranging from virus warnings to scam chains. If you receive an email that looks suspect, chances are this site will have a listing about it.

Charity Websites - If you are unsure about whether to give to a particular charity, visit www.charitynavigator.org. This website examines over 5,000 charities and evaluates how well they are using your donations. It also contains tips to assist you in choosing where to give and how to document your donations for tax purposes. Once you've selected your charities, you can usually make your contributions online. Just be sure to visit the organization's official website, rather than using a link in an email. This will ensure that your contribution is going where it should rather than into a scammer's pocket.

Urban Legends - Is there an urban legend that you've been wondering about for years? Visit www.snopes.com and find out once and for all if it's true. They have urban legends categorized by subject matter and even provide a bibliography at the end of their listings to reflect their research! The Discovery Channel is also exploring urban legends through their television show, MythBusters. To learn more about the show and the myths they have pursued, visit the Discovery Channel website at www.dsc.discovery.com and click on MythBusters.

*Mikey was played by an actor named John Gilchrist. He is alive and well and is currently working as an advertising executive!

Wondering What to do This Weekend?

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Tue, 26 Jun 2012 14:46:04 -0700

Wondering What to do This Weekend?
A Local Activity Guide

Despite the amazing technological advances we have made over the past few decades, there are still just 24 hours in a day. While we try our best to juggle the demands of work and home, it can be exhausting just getting through the week. When the weekend rolls around, we want to spend quality time with those we love. Once you have taken that family vacation to the mountains, visited Grandma, and watched your entire Disney® DVD collection more than once, what's left to do? Here are some fun and cost-effective suggestions that everyone will enjoy, regardless of age!

Visit The Library
The library may conjure up visions of reports and school projects in some young minds, but it is also a place for great adventures. Check with your local library to see what types of programs are available for kids in your child's age range. Whether it's a puppet show for preschoolers or a storytelling hour for your third grader, it's a fun outing that will broaden their minds. In addition, you can help your child select a few books to read. While you're there, why not choose a few for yourself? Locate a library near you by searching Google for 'public library city', substituting your town's name, or visit www.nces.ed.gov/surveys/libraries/librarysearch.

Check Your Local Listings
Take a look at the events section of your local newspaper. Depending on the season, there are frequently free outdoor activities, such as plays and concerts in the park, fairs, or holiday parades. Also, keep an eye out for special exhibits or children's programs at your local museums. If you do not subscribe to a newspaper, most also have a website.

Act Like A Tourist
It's very easy to take where you live for granted. Frequently, we wait until visitors come from out of town to even think about what makes our area unique. Do a little research and learn about its history. (A great place to start is your city's chamber of commerce or visitor's bureau website, which you can find by searching Google for 'city chamber commerce,' but substituting the name of your city.) Take your family to see local landmarks. Are there geographic features to explore? Perhaps a cave, or a mountain, or a lake? Take a hike through that beautiful park you've been driving past for months and haven't stopped by to see! For a detailed guide to national parks, visit www.nps.gov/parks.html.

Go on Safari
A trip to the local zoo can be enjoyable for everyone. The fun doesn't have to end there though. If your child has a favorite animal, help him or her look it up online. Learn more about where the animal lives, what it eats, and how its society is structured. Many zoos have webcams so that you can see what certain animals are doing on a daily basis! Their websites also contain fun activities for kids as well as e-newsletters for adults. No matter where you live, there is always a virtual zoo nearby just waiting for you to stop in. For links to zoos and aquariums around the country, go to www.aza.org/FindZooAquarium/.

FHA Rescinds Select Credit Guides

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Tue, 19 Jun 2012 10:48:45 -0700

FHA Rescinds Select Credit Guides

Mortgagee Letter 2012-10 rescinds guidelines regarding disputed accounts and collection accounts that were announced February 28, 2012 via Mortgagee Letter 2012-03.

Here is just 1 of the 2 things YOU NEED TO KNOW about these changes:

Effective now, the FHA guides revert back to the previous guides regarding disputed accounts and collection accounts, meaning the DE underwriter has to make the decision whether disputed accounts and collection accounts must be paid as a condition of loan approval.

Maybe things are looking up again?

Avoiding Scams After the Loss of a Loved One

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Tue, 19 Jun 2012 09:06:50 -0700

Avoiding Scams After the Loss of a Loved One

The loss of a loved one is never an easy experience for any family, and people can be understandably distracted and overwhelmed during these times. Unfortunately, scam artists tend to capitalize on people when they're most vulnerable. Some even use the obituaries in the newspaper as a way to target potential victims. Here are some tips to help you or your loved ones avoid scams during times of loss.

Protect Your Home
If funeral service dates and locations are listed in the newspaper obituary, scam artists will be able to tell when you will be away from home. And with friends and relatives visiting to pay their respects, neighbors may assume someone entering your house has permission to do so. To be safe, either ask a friend or neighbor to house-sit while you're away, or let your neighbors know your plans so they can look out for suspicious visitors.

Know Who's Calling
If you have caller ID on your home phone, make good use of it and don't answer calls from unknown numbers. This will help you avoid calls from companies or individuals who are running cons. Remember, any company or person who pressures you during difficult times probably isn't looking out for your best interests.

Remember, never give out sensitive personal information over the telephone. If anyone calls you and asks for this information, ask what company they work for, hang up, and then call the company directly yourself and talk to someone you know and trust before making any decisions.

Be Mindful of What You Pay
As you are going through papers, pay all bills that you know are legitimate like the mortgage, utilities, credit cards, and car payments. Do not pay anything from unknown parties or companies, including invoices, investment opportunities, calls for orders placed, or calls for money owed.

Get a Second Opinion
Sorting through paperwork can be overwhelming during times of loss. Consider asking a friend, family member, or even a trusted professional like an accountant or attorney to review any invoices or claims before you send a payment.

Help others in your community avoid scammers during tough times. Share this article with your friends and family. And share with us any tips you know that we should add to our list.

5 Secrets to Leaving More Effective Voicemail Messages

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Fri, 08 Jun 2012 10:42:32 -0700

5 Secrets to Leaving More Effective Voicemail Messages

The following tips can help you be more effective and get better results with voice messages:

Don't Talk So Much. You have a limited window to make your point. That means you can't provide a lot of background information or cover multiple topics. Before you call, make sure you have a singular focus to mention if you get the person's voicemail. Then, highlight that important point, and leave the rest of your points for the actual follow-up discussion.

Focus on a Problem. To put it bluntly: People don't want to hear about you; they want to hear about themselves. So before you call, make sure you've thought about the person on the other end–including what she cares about, what she spends her time on, as well as what she wishes she could spend her time on instead. Craft a simple, focused message that hits on ONE major problem or issue that the listener has.

Everyone Likes a Good Mystery. Once you've focused on a single overriding problem, resist the temptation to go into your sales pitch about solving it. For one thing, the listener probably doesn't have time (or want) to listen to your pitch. For another, if you give your pitch, what reason do they have to call you back? Instead, only allude to the idea that a solution does exist...but don't go into detail. Leave some mystery. That's your hook for getting them to actually call you back...because now they actually have a reason to! Finally, state a number the person can reach you at and say you'd like to tell/give them some information by chatting for a couple of minutes. You can even give them a time frame (such as saying they can call you back by a certain day or time) to help create a sense of urgency about solving the mystery you've established in your message.

Energy and Enthusiasm. Nobody wants to listen to a person who's boring or sounds bored. Before you call, take a second to raise your energy level. Some experts recommend standing up when making a call or smiling while talking on the phone, as a way to subtly convey a pleasant, energetic tone.

Phone Home. Call your home phone and leave some test messages. You can even try a few different approaches. When you get home, take notes about what worked and what you want to improve. Then, try the same process the next day or even every couple of months to make sure you're still effective.

How to Stand Out from the Crowd

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Sun, 20 May 2012 14:46:09 -0700

How to Stand Out from the Crowd
Marketing 101

The purpose of marketing is to obtain mental real estate. Competition is fierce these days, as consumers are bombarded with distractions from every direction. How can you make sure that your message is heard and remembered?

Communication is Key
Whether it's a company brochure, a newsletter, or a flyer, the idea is the same. You are trying to attract the reader's attention!

When you create a company brochure, produce something that's compelling. Remember, your brochure will be competing with a mountain of magazines in the waiting room. Don't hand out a standard overview of your company, with a look and feel that mirrors everything else in your industry. Create something that will "wow" the reader and help you stand out from the crowd.

Newsletters are a popular marketing tool, but their effectiveness depends upon their content. Rather than producing a lengthy piece that prattles on about your business, try to provide brief bits of interesting information. Give the reader general news and tips they can use, or at least share with co-workers around the water cooler. Success stories are an especially useful communication device. Select a difficult transaction you've completed which had a great outcome, and use it to indirectly illustrate your talents to your customers.

Utilize Your Database
Your client database is the most valuable resource you have. Do you use it to its full potential or is it merely a repository for data from past transactions?

Each contact within your database should be classified as either an active or passive lead.

Active leads are those who are about to make a decision, and they should be contacted frequently. Rather than calling a client to ask if they're ready to commit, try calling to provide them with information instead. Tell them about an additional feature of the item you've discussed, or bring up a different product for their consideration. Perhaps you have a special offer that might interest them. By contributing something of value to the conversation, you're able to touch base and further establish your worth as a resource.
Passive leads include past clients and prospects who wriggled off the hook and wound up working with someone else. These individuals should be contacted at least every thirty days. Your perseverance will impress former prospects and even assist you in winning some back! Regular communication will also ensure that past clients remember you the next time they, or their associates, need the services you provide.

Marketing has never been more challenging than it is today. Make the most of the communication opportunities you have, and you'll reap the benefits for years to come.

Buyers versus Browsers

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Thu, 03 May 2012 07:33:44 -0700

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 home buyers, 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!

The FSBO Assistant

Pat & Sharon Mistowski (Horizon Lending Services, LLC) — Fri, 27 Apr 2012 18:29:52 -0700

The FSBO Assistant
Giving to Receive

One nice thing about For Sale By Owner (FSBO) homes is that the owners advertise to the general populace, which makes them easy to find! You have their address in any ad they put out, which means you can do some extremely targeted marketing.

Another important thing to know about these "do-it-yourself" types is that most of them fail in trying to sell their own homes, and end up needing the services of a Real Estate Agent. You just need to make sure you're the first agent on their mind!

To that end, I recommend giving the FSBOs in your area a small kit you can label the "FSBO Assistant." There is actually a two-fold reason to give out these kits. The first one is obvious: You have to give in order to receive. By presenting value up front, you are earning the trust of the homeowner, and making it much more likely that they will choose you should they decide to use an Agent.

The second reason is a bit more subtle: By introducing them to the piles of paperwork and material that FSBOs need to understand, you show them what you get paid for, and why it's worth it to use you rather than try to do it themselves!

Here is an abbreviated list of some of the documents I would include:

A Generic Purchase Agreement

Escrow, Settlement, or Closing Instructions

Title Insurance Policy

Settlement or Closing Statement

General Warranty Deed

Special Warranty Deed

Bargain and Sale Deed

Lead-based Paint Seller Disclosure

A List of Other Documents They'll Need

Your Personal Brochure

Most importantly, include an offer to help them should they feel overwhelmed! This will give you more opportunities to sell them on your service later on. Be sincere in your desire to help them, and they'll be more receptive to you becoming their agent.

Collin County Mortgage Consulatnts - at your assistance

Pat & Sharon Mistowski's Blog

Worst cities to spend Valentine’s Day

Rates increased today !

Are you ready for these FHA Loan changes?

This Week's Mortgage Rates Forecast

ratea are on the climb -

House Auctions

Rates are stable this week

Nothing is Impossible

Interest rates increased

Let Google Do the Math

Short Sale - For the Home Owner

Credit Repair Myth #9: Deleted Negative Items Will Reappear On My Credit Report

Mortgage Rates End Week At Best Levels, But Risks Persist

Identity Theft Secret

Undercover Condo Investigations:

Thinking about paying off a debt to help your credit? keep Reading !

Easy Sweet Tea - Because It's Hot !

Urban Legends & Internet Scams

Urban Legends & Internet ScamsSorting Fact from Fiction

Wondering What to do This Weekend?

Wondering What to do This Weekend?A Local Activity Guide

FHA Rescinds Select Credit Guides

Avoiding Scams After the Loss of a Loved One

Avoiding Scams After the Loss of a Loved One

5 Secrets to Leaving More Effective Voicemail Messages

How to Stand Out from the Crowd

Buyers versus Browsers

The FSBO Assistant

Urban Legends & Internet Scams
Sorting Fact from Fiction

Wondering What to do This Weekend?
A Local Activity Guide