Ronnie's Blog

What Will The Fed Do Today? (WWTFDT)

Ronnie Roach (Wells Fargo Home Mortgage) — Tue, 18 Mar 2008 06:30:05 -0500

The Federal Reserve will be making their move today - My question to the Rainers - What do you think they will do? I have my own opinion - you can read it here but I want to hear from others in the industry. Will Ben Bernanke knock one out of the park or will he just ground out to first?

Foreclosures on the Outer Banks - how it affects all of us

Ronnie Roach (Wells Fargo Home Mortgage) — Sun, 17 Feb 2008 12:33:10 -0600

A couple of articles about the damage of foreclosures. It is an awful thing for one to loose their home. We all sympathize and I am sure it is tough to truly understand unless you have walked a mile in their shoes.

I wrote a couple of articles about how those same foreclosures can really damage everyone around them.

First - this is how a foreclosures can hurt a resort area and their rental market.

Second - this is how a foreclosure can hurt all of the neighbors.

I have a lot of buyers interested in picking up "great deals" - those foreclosures that are selling for pennies on the dollar. I have not seen that in our local area.

Top Ten Free Technology Tools for Realtors

Ronnie Roach (Wells Fargo Home Mortgage) — Wed, 16 Jan 2008 20:33:48 -0600

Did I mention they were free?

The Outer Banks Association of Realtors Technology Committee met this week and it was suggested we put together our list of free technology tools. It was actually pretty tough only picking 10 - I cheated - the beauty of having your own blog. Here is my list - I would like to hear some feedback from fellow rainers. Please include your favorite program in the comments.

Did you ever want to ride the short bus when you were a kid?

Ronnie Roach (Wells Fargo Home Mortgage) — Thu, 19 Jul 2007 16:37:43 -0500

Probably not - not even sure if they still have the short buses. It has been a long time since I was in school. But if you come to the Outer Banks - there is a short bus you will definitely want to ride. Actually it is like a mashup between a short bus and a monster truck. They will give eco tours in the 4WD areas up north. You can find more details and links to their site here.

Judge tries to halt driving on the Hatteras Seashore but it didn't really work

Ronnie Roach (Wells Fargo Home Mortgage) — Thu, 19 Jul 2007 16:32:20 -0500

A Federal Judge in Elizabeth City got fed up with dealing with rowdy drivers on the Cape Hatteras National Seashore - so he condemned driving on the beach. The national park service is not really accepting the Judges word as the gospel so they are still allowing motorist to cruise (except for turtle nesting areas and piping plover nesting areas). You can read all of the juicy details and even link to a local message board to see what others have to say.

Mortgage Bonds improving today

Ronnie Roach (Wells Fargo Home Mortgage) — Tue, 10 Jul 2007 15:19:00 -0500

I am scared to make a prediction so I will just report the facts. The mortgage bond has improved today - remember when the bond goes up, rates go down (green is good). Retail sales numbers are due on Friday - lets hope inflation stays in check. Ben Bernanke stated again today the the fed is watching core inflation (which excludes energy and food) as the measure on how the fed will react towards inflation.

Cool way to clean your grill.

Ronnie Roach (Wells Fargo Home Mortgage) — Sat, 07 Jul 2007 21:57:56 -0500

O.K.

All of you weekend warriors. How you you clean your grill? Are you even supposed to clean your grill? The folks at Lifehacker have an easy tip on how to easily clean your grill with aluminum foil. This is the MacGyver tip of the week. Happy clean grilling for everyone over the weekend.

Firefox 3 is on the horizon - what browser do you use?

Ronnie Roach (Wells Fargo Home Mortgage) — Fri, 06 Jul 2007 07:29:35 -0500

Firefox 3 is now in beta testing. For those that haven't tried firefox for your internet browsing - you should. Firefox revolutionized the browser world and it continues to evolve as the premier program for surfing the internet. Tabbed browsing is something to behold. I currently have 8 tabs open (six every time I fire up firefox). Tabs allow you to flip back and forth between programs you use frequently. This would allow Realtors to have the MLS in one tab, AR in another and their email client in a third.

What browser do you currently use?

It is Payroll Friday - We could be in for a bumpy ride

Ronnie Roach (Wells Fargo Home Mortgage) — Fri, 06 Jul 2007 06:03:27 -0500

Today at 8:30 ET the payroll numbers will be released. Estimates are that 125,000 to 128,000 new jobs will be reported. Some are estimating the numbers will come in around 140,000 which would have a negative impact on rates. ADP reported higher than expected numbers but their private estimates are not always a good predictor for the Jobs numbers. We will know in just 90 minutes.

WellcomeMat video - Housing Prices Roller Coaster - wanna ride?

Ronnie Roach (Wells Fargo Home Mortgage) — Thu, 05 Jul 2007 13:43:18 -0500

The folks over at WellcomeMat created a graph on housing prices in a very creative way. The ups and downs are shown as a roller coaster ride. The prices are shown from 1890 through 2007. While I really appreciate their creativity - the visual is pretty scary. While I am not afraid of heights, my first impression was that we are going to have a fast ride down. Check it out and see if the visual gives you the same impression.

Mid Currituck Bridge Update

Ronnie Roach (Wells Fargo Home Mortgage) — Thu, 05 Jul 2007 12:23:05 -0500

For those that travel to the Outer Banks from the north, good news is on the horizon (the year 2013 that is). The North Carolina Turnpike Authority is moving forward with plans for the Mid Currituck Bridge project. The toll bridge will connect the Currituck Mainland with Corolla. What this really means is cutting about two hours of travel time during the summer to get to your vacation home in Duck, Corolla, Pine Island or Carova. For more information on the project, visit Outer Banks Real Estate.

Cold Call from my AR blog - travel incentive sales???

Ronnie Roach (Wells Fargo Home Mortgage) — Mon, 02 Jul 2007 15:40:32 -0500

Got a call today from a sales rep that wanted to sell travel incentives. Started the call with a cheesy - Hey this is Jim and I wanted to talk about the tons of points on AR. Fast talker - turn off #1. He repeated his opening line with a little bit of stumbling and wanted to know how I got all of the traffic to my site. Funny taste in my mouth at this point. "What exactly are you calling about" I asked. Enter the sales pitch. And no I am not interested in buying travel incentives. I get enough of that junk in the mail as it is. Not sure if they are targeting the AR network. Probably not a bad place to start for someone trying to sell technology to those in the Real Estate Industry.

I suggested for him to start at the points leader in AR and work his way down. (Just Kidding).

Google Free 411 adds a cool feature - Map it to your smart phone

Ronnie Roach (Wells Fargo Home Mortgage) — Mon, 02 Jul 2007 09:46:50 -0500

If you are searching for a business number - Google's Free 411 is a great service (800-466-4411) and it sure beats paying $1 for information. They just added another great feature that I tried out this morning.

When you find the business, the service lets you know "I'll connect you now". If you say "Map it" while being connected, Google will send a text message to your phone with the details and the address. The message also includes a link to Google Maps to give you driving directions. Try it - you will like it.

Are you using Craigslist? If so, what are your results?

Ronnie Roach (Wells Fargo Home Mortgage) — Mon, 02 Jul 2007 08:13:45 -0500

I wanted to know what luck agents have had with Craigslist. I have posted some on the financial board offering my services but I have had 0 contacts from it. I tend to see more "lenders" that offer 125% loans. This will probably not be the best way for me to spend my time.

On the listing side, have you had any luck posting your homes?

Monday Morning Smiles

Ronnie Roach (Wells Fargo Home Mortgage) — Mon, 02 Jul 2007 07:52:30 -0500

Not sure about this product... If you look at the tag closely, it sounds pretty scary. I found it on Say No To Crack which has some funny posts about odd items. The explanation on the pump has something to do with horses in the UK. I bet the horses don't think it is funny.

Fed Decides to keep rates steady for 17th straight time

Ronnie Roach (Wells Fargo Home Mortgage) — Thu, 28 Jun 2007 13:30:31 -0500

The Fed just released the minutes from their meeting and has kept rates steady. They also dropped the "elevated" description of Core Inflation even though there are still long term concerns about inflation controls. Here is what the Fed had to say:

"The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5-1/4 percent.
"Economic growth appears to have been moderate during the first half of this year, despite the ongoing adjustment in the housing sector. The economy seems likely to continue to expand
at a moderate pace over coming quarters.
"Readings on core inflation have improved modestly in recent months. However, a sustained moderation in inflation pressures has yet to be convincingly demonstrated. Moreover, the high
level of resource utilization has the potential to sustain those pressures.
"In these circumstances, the Committee's predominant policy concern remains the risk that inflation will fail to moderate as expected. Future policy adjustments will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information.
"Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Thomas M. Hoenig; Donald L. Kohn; Randall S. Kroszner; Cathy E.
Minehan; Frederic S. Mishkin; Michael H. Moskow; William Poole; and Kevin M. Warsh."

Bonds are currently trading down 9 basis points just after the release.

Freakonomics has great post on What is wrong with Seller Concessions

Ronnie Roach (Wells Fargo Home Mortgage) — Thu, 28 Jun 2007 13:08:35 -0500

Freakonomics Blog has a great article about seller concessions. The banks have more risk and someone pays for that - guess who - you, me and the average consumer that plays by the rules. Don't get caught up in something that sounds too good to be true. You will be able to sleep better at night and keep your license.

Fed Minutes released in an hour - what do you think will happen?

Ronnie Roach (Wells Fargo Home Mortgage) — Thu, 28 Jun 2007 12:01:51 -0500

The Fed is about to release minutes from their meeting in a little over an hour. I would like to get input from those that follow the market what you think will happen.

Will they raise the rates from 5.25% (I don't think so)?

Will they mention inflation is in check (I hope so)?

Will they mention a possible cut in the Fed Rate later this year (It would be nice but I don't think so)?

Leave your comment with your predictions - it will be great to see what others think will happen. The mortgage backed bonds are currently down 6 basis points.

Cool Tool to schedule Meetings - TimeToMeet

Ronnie Roach (Wells Fargo Home Mortgage) — Wed, 27 Jun 2007 13:43:59 -0500

Have you ever had a group that wanted to schedule a meeting but had a tough time working around everyone's schedule? I have found a great tool to help. It is called TimeToMeet and this is how it works.

Everyone receives a private link to enter their availabilites on a common schedule. No sign-ups or logins necessary.
We'll find the best candidates and you can easily confirm a final time. RSVPs are built-in.
And you're done already.

Another kind of Rain - Rain Today Newsletter for sales and Marketing

Ronnie Roach (Wells Fargo Home Mortgage) — Wed, 27 Jun 2007 13:29:28 -0500

I have been subscribing to Rain Today which publishes a newsletter for sales and marketing folks like us. There are some interesting articles published and it can never hurt to visit proven strategies that we wander from during our sales career. You can sign up for email updates and hopefully it will provide some tools to help you succeed.

The best way to deal with the competition

Ronnie Roach (Wells Fargo Home Mortgage) — Wed, 27 Jun 2007 12:50:31 -0500

My first boss used to preach to the young sales staff on a regular basis. One of his biggest lessons was not to bash the competition. Seth Godin published a post in regards to the new iPhone and how competition should deal with it.

The Real Estate industry has it's share of bashing going on. If you stay positive and provide the best customer service, more than likely you will get your share of the business.

Something to ease your pain... Pomegranate Martini Recipe that works every time.

Ronnie Roach (Wells Fargo Home Mortgage) — Wed, 27 Jun 2007 12:15:18 -0500

Since the market is doing so well, I thought I would pass along a favorite to ease your pain. This is my personal recipe that has been modified to stop leaks and cure arthritis.

Pomegranate Martini – this thing works miracles.

3 oz decent vodka

3 oz pomegranate juice

Juice from ½ orange or tangerine - not the bottled stuff

Juice from ½ lime

1 teaspoon of sugar

Frozen martini glass is a must.

Combine all ingredients in a shaker with lots of ice. The trick is to shake it 3 times longer than you think you should. You get an upper body workout and a great drink. Less juice and more ice and open space in the shaker works best. The longer you shake, the more ice crystals will be in the drink (ladies love the ice crystals). Serve one at a time in a frozen martini glass. You will be the hit of the party for sure. They go down very smooth but make sure you have a dd to get people home.

9 - 10 Reasons to upgrade to Microsoft Office 2007

Ronnie Roach (Wells Fargo Home Mortgage) — Wed, 27 Jun 2007 11:37:37 -0500

The folks over at Technology for Real Estate published 9 reasons to upgrade to Microsoft Office 2007. I have been a beta user of Office 2007 and now have the full version and I really appreciate the improvements. I agree with their picks - especially the mail merge feature in Publisher and the create pdf from any program. I would also add the improved graphics capabilities of Microsoft Word and the new ribbon menu bars. It takes a little getting used to them but once you cross that hurdle, you will never want to go back.

You can't make this stuff up - Researchers looking for BIGFOOT in Michigan

Ronnie Roach (Wells Fargo Home Mortgage) — Wed, 27 Jun 2007 11:03:13 -0500

And Ditech claims "people are smart"?

For those that want to believe - Researchers are looking for Bigfoot on the Upper Peninsula of Michigan. Specifically in parts of eastern Marquette County. Now the title "Researchers" is probably a loose interpretation. The guy is from the Bigfoot Field Research Organization. For the AR members in Marquette County - this might be the break you were looking for. You could make a mold of a "big foot" and go around town making imprints everywhere. Think of the press coverage. You would have nuts from other organizations flocking to your neck of the woods trying to find a sasquatch. It might even open up a whole new vacation market - hey honey, this year why don't we go to the northern peninsula and see if we can spot bigfoot?

Maybe the Outer Banks should come up with some freaky sighting. Maybe an Elvis sighting would work. How about a mermaid? Mermaids won't work - people are smarter than that... But I think Elvis might stand a chance - a 72 year overweight man with dark hair and big glasses hanging out on the beach - we've got em.

I hope this will be the first and last post I write with the tag "Bigfoot".

Mortgage Bonds edging higher

Ronnie Roach (Wells Fargo Home Mortgage) — Wed, 27 Jun 2007 10:26:55 -0500

The mortgage backed securities are edging higher this morning - partly due to the lower than expected durable goods orders being lower than expected. Durable Goods measures expenditures of businesses for big ticket items. Low numbers equals lower spending which should help keep inflation in check. There are big economic reports due on Thursday and Friday which could sway the bonds. Bonds go up - Rates go down.