tips and advice: "Republican Advice" - 05/18/10 09:39 AM
“That’s Republican Advice” A friend called me yesterday for some advice on a real estate transaction. Whenever anyone calls me for advice I am humbled and honored because I know what a serious decision it can be, especially in these uncertain economic times. But because I am in the business of mortgages I often receive calls from friends for advice. What made this call unique is that my friend and I have a relationship that extends more than two decades and who I would consider one of my best and most genuine friends but we couldn’t be more different politically … (6 comments)
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tips and advice: Building a Personal Brand vs Relying on a corporate brand - 04/01/10 09:41 PM
Building a Personal Brand
A great definition of the word "brand"; “A brand is the essence or promise of what will be delivered or experienced.”
Personal branding is even more essential to building a referral and relationship-based business today than ever before. The economy and most organizations have been in constant turmoil due to the changing market they compete in. Because of this brand loyalty is at an all time record low. Consumers no longer trust corporate brands and rely heavily upon personal networks for referrals.
Different opinions exist about having a corporate or personal brand, but I am … (7 comments)
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tips and advice: The Short Sale Scoop — Part III - 03/20/10 07:17 AM
The Short Sale Scoop — Part III A three-part Q & A series for real estate agentsabout SunTrust Mortgage's Short Sale process.
At SunTrust Mortgage, Inc. (STM), when clients are unable to make their monthly mortgage payments due to hardship, it's our goal to work with them to help them avoid foreclosure whenever possible. One option that may be available is the Short Sale — a process that allows the homeowner to sell the home for less than the total amount owed.
We want you to knowAs a real estate agent, you'll often be asked to gather and submit much of … (0 comments)
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tips and advice: Countrywide owes refunds to 4,800 NC customers - 12/05/08 07:40 PM
Countrywide Settles Claim with 4,800 of Banks for 15.4MM
Raleigh, NCRicardo CobosMortgage Banker
Countrywide Mortgage settled a claim today with the North Carolina Commisioners of Banks without admitting wrongdoing. The claim alledged that the California lender had overcharged mostly First Time Home Buyers who obtained Home Equity Lines and charged fees that were disallowed in North Carolina.
By Countrwides Estimates, 4,800 North Carolina borrowers will share in the 11.5MM, another 2MM will go to homebuyer education classes and another 900m to the Nationwide Mortrgage Licensing System to help states improve the regulation of mortgage lenders.
… (1 comments)
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tips and advice: Today's Eight Most Fuel Efficient Cars - 09/28/08 02:31 PM
the Eight Most Fule Efficient Cars the Eight Most Fule Efficient Cars Facts and Figures
The Eight Most Fuel-Efficient Cars
According to the Department of Energy, the following are currently the most-fuel efficient cars:
1. Toyota Prius City: 48 HWY: 45;
2. Honda Civic Hybrid City: 40 HWY: 45;
3. Smart Convertible City: 33 HWY: 41;
4. Toyota Yaris City: 29 HWY: 36;
5. Mini Cooper (Manual) City: 28 HWY: 37;
6. Toyota Corolla City: 28 HWY: 37;
7. Honda Fit City: 28 HWY: 34;
8. Nissan Versa City: 26 HWY: 31.
And just for fun, here are the least efficient:
… (0 comments)
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tips and advice: VA Temporarily Increases Loan Limits - 08/04/08 09:42 AM
VA Temporarity Increases Loan Limits VA Temporarity Increases Loan Limits Housing and Recovery Act of 2008;
Great news!! As a result of the recent Omnibus Housing Bill (aka Housing
and Recovery Act of 2008), the maximum loan guaranty amount is
temporarily increasing for certain VA loans closed/disbursed from July 30,
2008 through December 31, 2008. (VA has not yet obtained a permanent increase.)
Cash-out refinance transactions are unaffected by this announcement. Loan amounts = or less than $417,000 are unaffected by this announcement. Loan amounts greater than > $417,000: The maximum guaranty amount varies
depending upon the location of the property being financed. Locations … (6 comments)
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tips and advice: First-Time Home Buyer Tax Credit/FAQ's and Answers - 08/02/08 07:28 AM
First-Time Home Buyer Tax Credit Frequently Asked Questions and Answers
About the First-Time Home Buyer Tax Credit The Housing and Economic Recovery Act of 2008 authorizes a $7,500 tax credit for qualified first-time home buyers purchasing homes on or after April 9, 2008 and before July 1, 2009. The following questions and answers provide basic information about the tax credit.
<!--content end --> Who is eligible to claim the $7,500 tax credit? What is the definition of a first-time home buyer? What types of homes will qualify for the tax credit? Instead of buying a new home from a home builder, I have … (5 comments)
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tips and advice: What is "Energy Efficient Mortgage"? - 08/01/08 09:08 AM
Don't Let Energy Bills Become a Dealkiller Don't Let Energy Bills Become a Dealkiller
Consumers Demand More Energy Efficiency in Homes and Mortgages Unless you live in China or Mexico where Energy prices are subsidized by the government, you already know that energy prices are considerably more than what they were last year, and that means homebuyers are not only looking at their commute times, they're also looking closely at energy efficiency in the homes they buy. This is causing a change of behavior in builders. For example; Centex just announced it will install an energy monitor in every home it builds … (7 comments)
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tips and advice: Safety & Security Tips for ALL REALTORS® - 07/28/08 12:58 PM
• Always let someone know where you are going and leave the name and phone number of the client you are meeting.
• Have someone from your office call you every half hour or check in with your office every half hour. Designate
one person in the office as the point of contact for this procedure.
• Have a code word or phrase for cases where you feel that you are in danger. Trust your gut and intuition if something doesn’t feel right. The designated person at the office is in charge of calling 911 upon hearing a code word or phrase.
… (5 comments)
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tips and advice: Websites Every REALTOR® Needs to Know - 07/27/08 02:06 PM
Studies indicate that over 80% of today's home buyers visit the Internet long before seeking the professional assistance of a REALTOR®. This means that, thanks to popular realty-themed websites that compete for your business, your clients are already armed with more information than ever before.
That's why today's savviest real estate agents must change their perspective and fight back. And the best way to do this is to visit and become familiar with these kinds of sites and the features they offer. This data will not only prepare you to answer any questions your clients might have, it will allow … (5 comments)
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tips and advice: Don't Pass Up on Free Money - 07/18/08 08:58 PM
Don't Pass Up on Free Money Stock and bond funds in 401(k) accounts have taken a beating this quarter, leaving many investors worried about their long-term financial goals. A recent USA Today article, however, revealed something much more worrisome: almost half of all Americans 25 to 34 years-old are not saving for retirement at all – even those with employers who match contributions to their 401(k) or similar retirement plans.
If you fall into this category, here's something to consider: if you had $1,000 in a CD or bank account paying 7.2% (and good luck finding one that high), it would … (8 comments)
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tips and advice: Expect the Next Round of Foreclosures in January 2009! - 07/18/08 08:36 PM
According to CoreLogic, nearly 300,000 subprime adjustable-rate mortgages (ARMs) are scheduled to reset throughout the summer months of 2008. For many borrowers, this means higher monthly mortgage payments with a rate increase of 1 or 2 percentage points -- or more in some cases -- when their loan adjusts.
The peak month for the resetting of mortgages, however, will come this October when, according to Credit Suisse, more than $50 billion in mortgages are scheduled to adjust to a new rate for the first time. If you or someone you know has an ARM, be proactive. Find out how … (5 comments)
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tips and advice: IRS Increases the Standard Mileage Deduction - 07/18/08 08:24 PM
Rocketing gas prices this year have prompted the Internal Revenue Service to increase the standard mileage-rate deduction for qualifying business-related driving expenses by 8 cents per mile. This means that the rate in effect for the first half of 2008 (January 1 to June 30), which is 50.5 cents, will jump to 58.5 cents for the second half of the year (July 1 to December 31) – that's almost 16%!
Normally the IRS updates this rate only once a year in the fall for the next calendar year. That means this is the first special mid-year increase since 2005 … (5 comments)
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tips and advice: Beware of Sky-high Airline Fees - 07/18/08 08:04 PM
The major airlines are doing anything they can to cut costs and increase revenue as they struggle with record jet fuel prices. Measures include massive lay-offs, decreasing the number of domestic and international flights, increasing airfares, and tacking on additional fees. You've probably heard about fees for second and even first checked bags by now, but did you know that some airlines have also increased fees for changing tickets and have now begun charging for those "free" tickets you thought you "earned" through your frequent-flyer programs?
The real problem, however, is that not all fees are equal, as different airlines … (5 comments)
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tips and advice: How to make your email more effective - 06/03/08 08:46 PM
How to Write an Effective Email
In today's world, the ability to write an effective email has never been more important, especially for business owners and professionals. With this in mind, here are a few tips for writing more effective emails:
Have a Meaningful Subject Line: This is important for two reasons. First, anything that appears insignificant could very well get lost in the shuffle. A subject line needs to contain information that's not only important to the reader but interesting as well. Secondly, it needs to give the reader an idea of what they can expect upon … (6 comments)
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tips and advice: Proactive Methods to Improve Business - 06/01/08 01:49 PM
Communication
Proactive Methods to Improve Business I once heard the expression, "Communication is the lubrication in your organization." That couldn't be truer, especially in the world of business. You simply can't over-communicate when dealing with clients. I find that the best way to eliminate the constant state of reactivity in which most of us work is to employ proactive communication strategies, such as the following:
Make a list of the people with whom you correspond regularly.
Take note of all the recurring questions that you have to answer time and time again. Then ask yourself how you can provide the … (5 comments)
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tips and advice: Fed Rate Cut and what is means to you (this time) - 04/30/08 04:33 PM
… (1 comments)
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tips and advice: Will a Hybrid Save You Money? - 03/28/08 09:43 PM
Hybrid or Not to Hybrid; This is my question
Those of us who earn our livings in the real estate industry, whether we are agents, appraisers or loan officers; we who cannot park our cars and take the bus because we actually use our cars in the course of our daily business, the rising cost of energy impacts us the most.
I spent more than $5,000 on fuel last year and it was only a few short years ago that I only spent $2,000! Because our income is fixed and regulated, we don’t have the luxury of adding a fuel surcharge to our … (6 comments)
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tips and advice: Jesus in the car - 03/21/08 03:17 PM
For those of you who haven't heard the incredible story of the 92 year old woman who repelled a would be attacker with...Jesus. This Good Friday is a good time to remember what Jesus did for you and me.... … (3 comments)
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tips and advice: "Do I have to pay off my Home Equity Loan/Line before Refinancing?" - 03/17/08 08:46 AM
I have confirmed rumors that many banks are requiring borrowers to pay off their home equity loans and line of credit as a condition to refinancing their first mortgage, even if the new mortgage is with another bank!
The question that I am getting often : "Is that legal?"
The Answer; Yes
Is it legal?
It is legal because when your bank granted you the line of credit it was based upon the financial condition both of yourself, the real estate market, and even the bank itself at that time. Unless you have been sleeping in a cave in Pakistan and don't listen to … (4 comments)
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