Lou's Blog

Short Sales and The Current Administration

Lou Farris (Keller Williams Executives Realty) — Thu, 30 Apr 2009 08:57:19 -0500

With the sweeping platform of liberal spend and tax programs that 10 generations cannot pay back, we are now faced with a constant stream of bank regulations that affect lenders, and will also affect us.

Fannie Mae is now condusting their own appraisals behind those the lender or servicer orders. Fannie takes its own seet time to get this done, too. This can stall an otherwise smooth short sale process, and cause a great deal o f anxiety for a buyer, which is where constant communication through the process with the buyer's agent is important.

States are changing the rules on who can work with Sellers who are being foreclosed on. the rules of engagement are important to know and can keep you out of trouble with your state's real estate commission.

Banks are changing their rules on how they approve a short sale. Some of them are changing the rules weekly. One trend tht I find very disturbing is that many banks have outsourced their loss mitigation departments to Pakistan and India, where a bunch of script readers are not very helpful. some have very well trained representatives who are trained to speak in US dialects. I have trapped many by using geographic landmarks which are not located where they claim to be. This is producing some delays in processing the approval, and causes many unnecessary delays.

Something else i am using to work more as a partner with a lender is a trend analysis of the subject area. I start with the zip code, and work back to the street for the subject to provide a much more detailed picture of what the subject is worth now, and will be worth later. I submit this with my package as a front-end BPO, and sometimes the lenders will use this compared to their own to approve the deal. I have MLS data that dates back many years,a nd this provides me the ability to build a trend chart of a property, including the number of times it has been sold and for what prices it has sld or listed at historically. This is a good way to utilize my education outsde of real estate, and justify that MBA.

I find the CMA we have all been trained to use is an inadequate tool for any real estate transaction ebcuase of its statistical inaccuracy. By getting a better sample size and using simple spradhseet formulas I can produce a more statistically accurate model for market analysis.

As many have said negotiation is always a key component in the deal. You have to know who you are negotiating with, though. many negotiate with the front line personnel, but I wait more patiently and get to the actual negotiatorAmny have worked with me on more than one transaction and know I will not abuse their goodwill with a price model that is outlandish. That builds a better working relationship that allows me better access to the lender.

Finally, I would encourage everyone to realize that the market we are in is the market we are in. It doesn't matter that there are a lot os foreclosures, or many listings run as short sales. What matters is our abiliity to get a deal to the closing table. We cannot affect the market we are in, until we actively participate in it, and then work to change the composition of the sales in it. Sticing our heads in the sand will not produce sales. We have to determine that we are here to hel pa public understand where we are, and then set ourseleves to the purpose of making it what we want it to be.

On Being Thankful

Lou Farris (Keller Williams Executives Realty) — Tue, 23 Dec 2008 07:04:59 -0600

Today, I am praying for the swift recovery of a fellow Realtor in my office. He went through surgery on his heart yesterday. He has been through this before, but any surgery is serious.

As I sit here this morning, getting ready for the holidays, and all that these preparations entail, gifts, cards, lights (which my family is thankfully taking charge of, so I can complete some things that have rto be done before tomorrow), food, and the string of various parties to go to, I am left with a great deal of thankful thoughts.

Our son arrived safely home from school, beaming about his first college semester. My girls were so happy to have their brother home for a while. There has been a flurry of fun activities with our girls playing their strings for the church Christmas pageant. I am humbled by ther talent, all three of them. My wife has supported me through the throes of all that has happened this year. Both the good and the bad.

In spite of this, I think of all the peopel, like my friend at the office who have to spend Christmas in a hospital bed. Old and young, rich and poor, they are there, and som ecannot receive a package, or cozy up around a fire.

I also think of those who are on the road or who must work on the holidays. In a strange economy, many have more than one job this year. I hope they can have time to spend with their families this holiday season.

I am thankful to be able to pray publicly, without fear of interference from the government. Not that I would stop, in any course. I am thankful when those in power have the wisdom to restrain their urges. I am thankful for those who preserve my freedom, and I pray daily for the safety of our soldiers around the world who don't get to spend the holidays at home. I pray for their safe return into the loving arms of their families. I am thankful for a home to live in. It is easy to snub those who are unfortunate to live "in the open."

There aren't any fancy graphics or special "wrapping" this time. I am so sorry if this disappoints those of you who might want to see a video game here. This time around, I am just thankful for this space and those who provide it. I am thankful for those of you who share the time to read what I muse over, too.

Have a wonderful holiday, and be thankful for who you were made to be. I'm thankful for you.

Lou Farris, MBA
"That Realtor Guy In Shorts"
Broker Consultant
Keller Williams Executives Realty, LLC
200 W Plaza Dr Suite 200
Highlands Ranch, CO 80129

OK... The Election Is Over - Counting Down to A New Regime

Lou Farris (Keller Williams Executives Realty) — Thu, 04 Dec 2008 20:25:09 -0600

We weathered the election, and the nation hasn't [yet] fallen to its knees, facing Mecca five times a day.

Sorry if someone gets offended by the above reference, but I am increasingly finding an intolerance of Christianity and Judism, and it is rather disturbing that every time I research the root of this, the sources are pointing back to Islamic origins.

Back on track...

Now that we are less than two months from a transition to a new administration, I cannot help but be reminded of a great quote that speaks to all of the promises Obama made: "Stick With Me and you'll never go hungry again!," from Disney/Pixar's The Lion King. We all know how that movie turned out... Scar, the evil uncle lost in the ending, and all returned to wellness at Pride Rock, as the Circle of Life rolled on.

What will happen over the next four years? If you know, please let me have the rights to your biography so we can get filthy stinkin' rich. otherwise, I suppose we are all, as was said in a Harry Potter movie "In for a bumpy ride, Earn..."

How did the vote get swung? Technology, and grassroots activisim - like in the 60s, but without a meaningful mission, in reality. The platform, like in the 60s was change, but nobody really knows what kind of changes we will see. Nothing substantial was ever said in Obama's plan, in any speech he delivered, or in the debates. All the people know is that if they voted for him, they were voting for change.

So Let's all hoist out mugs of Kool-Aid, but sniff the rims for poison, first. Drink slowly and cautiously. There is much to be concerned about, because this unknown, who may have a questionable claim to our nation's highest office may be seeking to make sweeping changes that neither our nation nor our posterity can bear the burden of. You who cast the majority vote may think you have voted for something noble. What you may have voted for is a perpetual and incessant drain of your freedom. You may get a lot of programs, but they may only work if you do not. It is not reliable or logical to think you can create something (wealth) for nothing (sloth - a lack of effort), unless you are trying to play God. Adolph Hitler attempted this during his rule of Gremany, and like the American youth currently, there were a bunch of discontented and slothful people looking for a solution to all of their problems. Hitler, and Obama played the same line of reasoning out to gain popularity. Hitler's end was devastation to himself and his nation. What will be the outcome of our actons?

Change for change's sake is never a prudent choice. We may get lucky but the deck is stacked against us on this. Our nation was founded on the principles of freedom, and every new law that is passed erodes that freedom from the citizenry. I would prefer failing and dying a free man than living to an old age in the riches provided to me at the expense of my freedom.

In the end, time will be the arbiter of outcomes. Look what time did in Russia with our friend to the right, and his conspirators Lenin and Marx. No party in the end is perfect. Even democracy has its problems, but I prefer democracy's woes to dictatorial rulre any day, no matter how good looking things seem to be.

Those of you familiar with Plato's Politics may recall that the dialogue stated and poitned out rather disturbingly that a benevolent dictator was the best choice for king, because he would never try to please everyone, but would please most people most of the time. Why? he would not seek to rule with an iron fist, but would choose to first wrap it in velvet, prior to rapping it against someone's head. That is to mean that for the most part, here and there a small minority might suffer, for the good of the whole. But, the people would be able to live better as a result, becuase all would in the end be served by the choices made by the ruler. Our nation has survived two World wars and a host of conflicts, including a Civil War in less time than most nations took to get out of diapers. The United Sates has almost gone down financially three times in its 2 century history, and it keeps coming back. If our people will get off their dead butts and work, invent, create, and strivev we can even come back from this current mess. If we count tooheavily on government to provide we will lose all we have and more. it is our desire to thrive and our innovativeness that has produced a great nation.

photos stock courtest Google Images.

Are Things really that Bad???

Lou Farris (Keller Williams Executives Realty) — Wed, 03 Dec 2008 15:42:51 -0600

By now we have awakened from our Tryptophan induced comas, and the crash after the Black Friday sales, and Cyber Monday madness...

Are things really that bad, or are we being grossly misled? I for one think that the scales may actually bend a little more to the latter than the former. Since we all know bad news sells a lot of Neilson points, and print space we must come to the logical conclusion that if we see it in print we should discount the news. How much is a good question.

Here is an interesting fact: nearly 1,000 homes sold last month in The Denver, Colorado metropolitan areas last month, under $200,000, that were a minimum of 3 bedroom 2 bathroom homes.

If that same trend has persisted in each month, and ironically it has been pretty consistent, then around 11,000 homes in this category alone have sold so far this year.

This means that the offset to foreclosures is that about half of the foreclosures are offset by sales in this category.

I don't know what it is like in your areas, and I don't know how your MLS presents data for analysis, but the Denver Metrolist data shows me something that I can be happy about, Before Christmas, which is that things are not nearly the way they appear to be, based on facts. I can also see where the local media outlets are preying on people's fears, and distorting facts to sell ratings.

Yes, we do have a lot of foreclosures, but the market is not as bad as we have been led to believe.

What's it like in your neck of the woods?

Lou Farris, MBA
"That Realtor Guy in Shorts!"
720.255.7148

Thankful? I Hope So!

Lou Farris (Keller Williams Executives Realty) — Tue, 25 Nov 2008 13:10:41 -0600

It sure would be easy to be upset. the media is spewing all sorts of things about the economy. we hear the constant strains of recession, depression, inflation, etc. We see this and another public servant exposed for extra- something dealings that get them into trouble. All around us there seems to be a lot to despair of, doesn't there?

I am thankful for the times we live in. Why?

I am healthy, and don't look my true age.
My wife and I have been faithful partners in our marriage, since before we were married.
I have had a best friend who holds me accountable, and who knows my darkets secrets and fears, and holds neither against me. My wife has been a contant and beutiful reminder of all of the blessings life has to offer.My children have no real hang-ups, pin-ups, or abuse issues, from intrenal or external sources. they are well-rounded peole, well-grounded persons, who are self-confident, and are not swayed by the whims of those around them.
My wife is teachnig young minds, doing what she is passionate about, and making a difference in those lives fro the better.
I am pursuing the things I am passionate abbout, and love what I do in real estate.
I have many good freinds, and more acquiantances and am always meeting new and intresting people.
I have freedom to pursue my dreams.
I am able to make a difference in lives, wherever I go.
We never miss a meal, no matter how bare the cupboard looks. Somehow a decent meal bursts forth, no matter how bereft of ingredients things first seem.
We have decent clothing, clean and attractive, no matter whether their age.
I have a good education, and so does my family.

Best of all, no matter what happens to the Dow, or S&P 500, the birds still sing, and that silly squirrell outside my window dances around entertaining me, and giving rise to creative thoughts. No matter how bad the media says things are, i constantly see people finding ways to help each other. Daily i find people doing some amazingly unheralded things. Wall street panics, but the seasons do not stop changing, and the trees in my yard still grow and then shed (lots of) leaves. We are getting deliciously sweet grapes from our vines, planted after we built this house. We have been privilieged to watch many families come and go in the neighborhood, and are one of the few families who are original homeowners here.

It's all about your perspective. This isn't some naiive feel-good kind of sensation that passes like when your foot falls asleep. I am truly thankful for these things. I am thankful to be able to solve simple and complex problems in real estate for people. I am grateful for the opportunities i have to serve and the new ways i will find to do so.

What are you truly thankful for?

-Lou

"That Realtor GuyIn Shorts!"

The Importance of Libraries - Douglas County Colorado Libraries Honored

Lou Farris (Keller Williams Executives Realty) — Sat, 18 Oct 2008 10:20:20 -0500

Read the story, here.

Douglas County Libraries Ranked 4th National Library Ratings

Douglas County Libraries is moving on up!

In 2008, Douglas County Libraries moved from 7th to 4th place nationwide among libraries serving populations of 100,000 to 250,000.

The ratings are based on statistics collected from nearly 9,000 public libraries measuring 15 factors. The focus is on circulation, staffing, materials, reference service, and funding levels.

Many of us will face a referendum or amendment, requesting monies for education and libraries this year. please support them. We compete intellectually with the world, and succeed to the degee that we provide ablities to teachers, students, and schools to excel. Education and libraries go hand in hand.

I routinely have 20 or mmore books borrowed, in addition to those I purchase for my personal collection. When I recycle books from my library, I donate them. I often save a year's subscription to particularly interesting magazines, and donate the series to the library.

Still, their costs are rising, too: benefits, heating, lighting, and water, along with improvements and facilities maintenance.

Libraries are an important part of our culture, as they help document and preserve it for our posterity. Please remember this at your polling place and support your local libraries.

Congrsatulations to the honor mine received. Click the link to find out about it. Good news deserves posting!

My best to you all, always,

Lou Farris, MBA
"That Realtor Guy, in Shorts"

Bailout Salary Notes - Department of the Treasury

Lou Farris (Keller Williams Executives Realty) — Tue, 14 Oct 2008 09:16:49 -0500

Here is how executive salaries are being worked on by the Department of the Treasury:

October 14, 2008
2008-10-14-9-5-0-19994

Treasury Announces Executive Compensation Rules Under the Emergency Economic Stabilization Act

Washington

Troubled Asset Auction Program

Capital Purchase Program

Programs for Systemically Significant Failing Institutions

-30-
- The Treasury Department is currently developing a third program to potentially provide direct assistance to certain failing firms on terms negotiated on a case-by-case basis. Treasury is issuing guidance for the executive compensation standards that will apply to the firms participating in such programs and their senior executives (Treasury Notice 2008-PSSFI). These standards are similar in all respects to the Capital Purchase Programs executive compensation standards described above, with one significant difference. In situations where Treasury provides assistance under the systemically significant failing institutions programs, golden parachutes will be defined more strictly to prohibit any payments to departing senior executives. - The Treasury is issuing guidance for this program designed to provide equity capital under standardized terms directly to certain financial institutions, further strengthening their capital structures to facilitate their continued lending in the capital markets. Any financial institution participating in the Capital Purchase Program will be subject to more stringent executive compensation rules for the period during which Treasury holds equity issued under this program. The financial institution must meet certain standards, including: (1) ensuring that incentive compensation for senior executives does not encourage unnecessary and excessive risks that threaten the value of the financial institution; (2) required clawback of any bonus or incentive compensation paid to a senior executive based on statements of earnings, gains, or other criteria that are later proven to be materially inaccurate; (3) prohibition on the financial institution from making any golden parachute payment to a senior executive based on the Internal Revenue Code provision; and (4) agreement not to deduct for tax purposes executive compensation in excess of $500,000 for each senior executive. Treasury is issuing interim final rules for these executive compensation standards.- Treasury continues to develop a program to purchase troubled mortgage-related assets through an auction format, and will be issuing program guidance for this program in the coming weeks. Treasury is issuing guidance for the executive compensation requirements that will apply to firms participating in this program. As prescribed by the Act, any financial institution that sells more than $300 million of troubled assets to the Treasury via an auction would be prohibited from entering into new executive employment contracts that include golden parachutes for the term of the program. Treasury is releasing Treasury Notice 2008-TAAP regarding this restriction. Furthermore, under the Act, (1) the financial institution may not deduct for tax purposes executive compensation in excess of $500,000 for each senior executive, (2) the financial institution may not deduct certain golden parachute payments to its senior executives and (3) a 20-percent excise tax will be imposed on the senior executive for these golden parachute payments. Treasury is releasing I.R.S. Notice 2008-94 regarding these new tax rules.- The U.S. Treasury Department today announced the development of three programs under the Emergency Economic Stabilization Act and corresponding executive compensation and corporate governance standards. These standards generally apply to the chief executive officer, chief financial officer, plus the next three most highly compensated executive officers. Any firm participating in the following three programs will be required to adopt these standards.

Excerpted from the U.S. Departmetn of the Treasury - as public informaiton.

Chocolate Futures Sink on Bleak Halloween Forecast

Lou Farris (Keller Williams Executives Realty) — Fri, 10 Oct 2008 07:53:21 -0500

Trick or Treat

source: Rocky Mtn News

Lou Farris, MBA, Realtor(r)
Global Realty Marketing
http://loufarris.point2agent.com

Scorecard on the Economy

Lou Farris (Keller Williams Executives Realty) — Thu, 09 Oct 2008 21:08:25 -0500

What grades would you give:

- Henry Paulson, for forthrightness and foresight?

- Ben Bernanke, for leadership and ability?

- Nancy Pelosi for honesty and ethics?

- Henry Waxman for integrity and values?

I am doing a straw poll on this, and am interested in your take on thinigs.

My best to you all,

Lou Farris

We Have a New Design for Our Currency

Lou Farris (Keller Williams Executives Realty) — Thu, 09 Oct 2008 20:12:36 -0500

With paulson and Bernanke at the wheel is it any wonder we should also have a new design on the currency, too?

Ohh, and as a reminder, Bill Clinton pushed 8 years very hard to make evefry American a homeowner, which is part of the reason for the mess we're in.

We Just Don't Get It... Our Economy is OUR Economy

Lou Farris (Keller Williams Executives Realty) — Thu, 09 Oct 2008 20:03:34 -0500

It is necessary to say this. It is unconstitutional for the government to meddle in the affairs of private business.
We still don't get it, though. It isn't about an economic bailout at all. This dumb, and nonsensical program is costly, and removes our freedom to live as free citizens. When the government can, at its whim enter into private busienss, the government becomes Socialist.

Remember the Marx and Lenin laughed at the notion of free capitalism and free markets. They scoffed at a democratic government. This is what we are heade for, and we seem to want to jump over the cliff like lemmings.

We have to communicate with Capitol Hill and let them know how little we appreciate their efforts at taking our freedom from us.

If you value your freedom, you will become active in your government's affairs.

My best to you all,

Lou

Bailout Blues - Have You Seen The Dow Today?

Lou Farris (Keller Williams Executives Realty) — Mon, 06 Oct 2008 11:13:21 -0500

The bailout passed, and look at the good it did. The markets opened another 500 pints loawer, and continued to take a nose dive.

Is there something I have missed? Wasn't the bailout supposed to shore up the economy and restore market stabililty? Forgive me if I am skeptical, but so far I can see a return to 1987 levels for the Dow. In fact I have been saying the market would make a major correction for the last couple of years.

Sadly, we are approaching the 9500 level I thought we would floor at. however, it looks like confidience is shrinking with each day.

Which returns me to the question... when is all of this market confidence suppoed to be restored, anyway?

Lou

Congress Has Saddled The People - And We Let Them...

Lou Farris (Keller Williams Executives Realty) — Fri, 03 Oct 2008 14:01:18 -0500

For those of you who didn't ready the 450 page rescue bill, you should have.

I did, and it is full of lot of things that will in no way help the public get affordable housing, or defcent loans. What we the People have done is to allow the government to grow more cumbersome at our children and grandchildrens/ expense. This is a huge economic problem, but the government cannot possibly solve it through bureaucracy. This will cost us all dearly, and we seem not to care.

I encourage you to look at the record posted below for the Senate and the House. If the voted yea, let's vote them out.

Here is how your senators voted...

Grouped by Home State

Alabama:	Sessions (R-AL), Nay	Shelby (R-AL), Nay
Alaska:	Murkowski (R-AK), Yea	Stevens (R-AK), Yea
Arizona:	Kyl (R-AZ), Yea	McCain (R-AZ), Yea
Arkansas:	Lincoln (D-AR), Yea	Pryor (D-AR), Yea
California:	Boxer (D-CA), Yea	Feinstein (D-CA), Yea
Colorado:	Allard (R-CO), Nay	Salazar (D-CO), Yea
Connecticut:	Dodd (D-CT), Yea	Lieberman (ID-CT), Yea
Delaware:	Biden (D-DE), Yea	Carper (D-DE), Yea
Florida:	Martinez (R-FL), Yea	Nelson (D-FL), Nay
Georgia:	Chambliss (R-GA), Yea	Isakson (R-GA), Yea
Hawaii:	Akaka (D-HI), Yea	Inouye (D-HI), Yea
Idaho:	Craig (R-ID), Yea	Crapo (R-ID), Nay
Illinois:	Durbin (D-IL), Yea	Obama (D-IL), Yea
Indiana:	Bayh (D-IN), Yea	Lugar (R-IN), Yea
Iowa:	Grassley (R-IA), Yea	Harkin (D-IA), Yea
Kansas:	Brownback (R-KS), Nay	Roberts (R-KS), Nay
Kentucky:	Bunning (R-KY), Nay	McConnell (R-KY), Yea
Louisiana:	Landrieu (D-LA), Nay	Vitter (R-LA), Nay
Maine:	Collins (R-ME), Yea	Snowe (R-ME), Yea
Maryland:	Cardin (D-MD), Yea	Mikulski (D-MD), Yea
Massachusetts:	Kennedy (D-MA), Not Voting	Kerry (D-MA), Yea
Michigan:	Levin (D-MI), Yea	Stabenow (D-MI), Nay
Minnesota:	Coleman (R-MN), Yea	Klobuchar (D-MN), Yea
Mississippi:	Cochran (R-MS), Nay	Wicker (R-MS), Nay
Missouri:	Bond (R-MO), Yea	McCaskill (D-MO), Yea
Montana:	Baucus (D-MT), Yea	Tester (D-MT), Nay
Nebraska:	Hagel (R-NE), Yea	Nelson (D-NE), Yea
Nevada:	Ensign (R-NV), Yea	Reid (D-NV), Yea
New Hampshire:	Gregg (R-NH), Yea	Sununu (R-NH), Yea
New Jersey:	Lautenberg (D-NJ), Yea	Menendez (D-NJ), Yea
New Mexico:	Bingaman (D-NM), Yea	Domenici (R-NM), Yea
New York:	Clinton (D-NY), Yea	Schumer (D-NY), Yea
North Carolina:	Burr (R-NC), Yea	Dole (R-NC), Nay
North Dakota:	Conrad (D-ND), Yea	Dorgan (D-ND), Nay
Ohio:	Brown (D-OH), Yea	Voinovich (R-OH), Yea
Oklahoma:	Coburn (R-OK), Yea	Inhofe (R-OK), Nay
Oregon:	Smith (R-OR), Yea	Wyden (D-OR), Nay
Pennsylvania:	Casey (D-PA), Yea	Specter (R-PA), Yea
Rhode Island:	Reed (D-RI), Yea	Whitehouse (D-RI), Yea
South Carolina:	DeMint (R-SC), Nay	Graham (R-SC), Yea
South Dakota:	Johnson (D-SD), Nay	Thune (R-SD), Yea
Tennessee:	Alexander (R-TN), Yea	Corker (R-TN), Yea
Texas:	Cornyn (R-TX), Yea	Hutchison (R-TX), Yea
Utah:	Bennett (R-UT), Yea	Hatch (R-UT), Yea
Vermont:	Leahy (D-VT), Yea	Sanders (I-VT), Nay
Virginia:	Warner (R-VA), Yea	Webb (D-VA), Yea
Washington:	Cantwell (D-WA), Nay	Murray (D-WA), Yea
West Virginia:	Byrd (D-WV), Yea	Rockefeller (D-WV), Yea
Wisconsin:	Feingold (D-WI), Nay	Kohl (D-WI), Yea
Wyoming:	Barrasso (R-WY), Nay	Enzi (R-WY), Nay

Here is how the House voted:

H R 1424      YEA-AND-NAY      3-Oct-2008      1:22 PM
      QUESTION:  On Motion to Concur in Senate Amendments
      BILL TITLE: Emergency Economic Stabilization Act of 2008

	Yeas	Nays	PRES	NV
Democratic	172	63
Republican	91	108
Independent
TOTALS	263	171

---- YEAS 263 ---

Abercrombie
Ackerman
Alexander
Allen
Andrews
Arcuri
Baca
Bachus
Baird
Baldwin
Barrett (SC)
Bean
Berkley
Berman
Berry
Biggert
Bishop (GA)
Bishop (NY)
Blunt
Boehner
Bonner
Bono Mack
Boozman
Boren
Boswell
Boucher
Boustany
Boyd (FL)
Brady (PA)
Brady (TX)
Braley (IA)
Brown (SC)
Brown, Corrine
Buchanan
Calvert
Camp (MI)
Campbell (CA)
Cannon
Cantor
Capps
Capuano
Cardoza
Carnahan
Carson
Castle
Clarke
Cleaver
Clyburn
Coble
Cohen
Cole (OK)
Conaway
Cooper
Costa
Cramer
Crenshaw
Crowley
Cubin
Cuellar
Cummings
Davis (AL)
Davis (CA)
Davis (IL)
Davis, Tom
DeGette
DeLauro
Dent
Dicks
Dingell
Donnelly
Doyle
Dreier
Edwards (MD)
Edwards (TX)
Ehlers
Ellison
Ellsworth
Emanuel
Emerson
Engel
Eshoo
Etheridge
Everett
Fallin
Farr
Fattah
Ferguson
Fossella

Foster
Frank (MA)
Frelinghuysen
Gerlach
Giffords
Gilchrest
Gonzalez
Gordon
Granger
Green, Al
Gutierrez
Hall (NY)
Hare
Harman
Hastings (FL)
Herger
Higgins
Hinojosa
Hirono
Hobson
Hoekstra
Holt
Honda
Hooley
Hoyer
Inglis (SC)
Israel
Jackson (IL)
Jackson-Lee (TX)
Johnson, E. B.
Kanjorski
Kennedy
Kildee
Kilpatrick
Kind
King (NY)
Kirk
Klein (FL)
Kline (MN)
Knollenberg
Kuhl (NY)
LaHood
Langevin
Larsen (WA)
Larson (CT)
Lee
Levin
Lewis (CA)
Lewis (GA)
Lewis (KY)
Loebsack
Lofgren, Zoe
Lowey
Lungren, Daniel E.
Mahoney (FL)
Maloney (NY)
Markey
Marshall
Matsui
McCarthy (NY)
McCollum (MN)
McCrery
McGovern
McHugh
McKeon
McNerney
McNulty
Meek (FL)
Meeks (NY)
Melancon
Miller (NC)
Miller, Gary
Miller, George
Mitchell
Mollohan
Moore (KS)
Moore (WI)
Moran (VA)
Murphy (CT)
Murphy, Patrick
Murtha
Myrick
Nadler
Neal (MA)
Oberstar
Obey
Olver
Ortiz

Pallone
Pascrell
Pastor
Pelosi
Perlmutter
Peterson (PA)
Pickering
Pomeroy
Porter
Price (NC)
Pryce (OH)
Putnam
Radanovich
Rahall
Ramstad
Rangel
Regula
Reyes
Reynolds
Richardson
Rogers (AL)
Rogers (KY)
Ros-Lehtinen
Ross
Ruppersberger
Rush
Ryan (OH)
Ryan (WI)
Sarbanes
Saxton
Schakowsky
Schiff
Schmidt
Schwartz
Scott (GA)
Sessions
Sestak
Shadegg
Shays
Shuster
Simpson
Sires
Skelton
Slaughter
Smith (TX)
Smith (WA)
Snyder
Solis
Souder
Space
Speier
Spratt
Sullivan
Sutton
Tancredo
Tanner
Tauscher
Terry
Thompson (CA)
Thornberry
Tiberi
Tierney
Towns
Tsongas
Upton
Van Hollen
Velázquez
Walden (OR)
Walsh (NY)
Wamp
Wasserman Schultz
Waters
Watson
Watt
Waxman
Weiner
Welch (VT)
Weldon (FL)
Weller
Wexler
Wilson (NM)
Wilson (OH)
Wilson (SC)
Wolf
Woolsey
Wu
Yarmuth

---- NAYS 171 ---

Aderholt
Akin
Altmire
Bachmann
Barrow
Bartlett (MD)
Barton (TX)
Becerra
Bilbray
Bilirakis
Bishop (UT)
Blackburn
Blumenauer
Boyda (KS)
Broun (GA)
Brown-Waite, Ginny
Burgess
Burton (IN)
Butterfield
Buyer
Capito
Carney
Carter
Castor
Cazayoux
Chabot
Chandler
Childers
Clay
Conyers
Costello
Courtney
Culberson
Davis (KY)
Davis, David
Davis, Lincoln
Deal (GA)
DeFazio
Delahunt
Diaz-Balart, L.
Diaz-Balart, M.
Doggett
Doolittle
Drake
Duncan
English (PA)
Feeney
Filner
Flake
Forbes
Fortenberry
Foxx
Franks (AZ)
Gallegly
Garrett (NJ)
Gillibrand
Gingrey

Gohmert
Goode
Goodlatte
Graves
Green, Gene
Grijalva
Hall (TX)
Hastings (WA)
Hayes
Heller
Hensarling
Herseth Sandlin
Hill
Hinchey
Hodes
Holden
Hulshof
Hunter
Inslee
Issa
Jefferson
Johnson (GA)
Johnson (IL)
Johnson, Sam
Jones (NC)
Jordan
Kagen
Kaptur
Keller
King (IA)
Kingston
Kucinich
Lamborn
Lampson
Latham
LaTourette
Latta
Linder
Lipinski
LoBiondo
Lucas
Lynch
Mack
Manzullo
Marchant
Matheson
McCarthy (CA)
McCaul (TX)
McCotter
McDermott
McHenry
McIntyre
McMorris Rodgers
Mica
Michaud
Miller (FL)
Miller (MI)

Moran (KS)
Murphy, Tim
Musgrave
Napolitano
Neugebauer
Nunes
Paul
Payne
Pearce
Pence
Peterson (MN)
Petri
Pitts
Platts
Poe
Price (GA)
Rehberg
Reichert
Renzi
Rodriguez
Rogers (MI)
Rohrabacher
Roskam
Rothman
Roybal-Allard
Royce
Salazar
Sali
Sánchez, Linda T.
Sanchez, Loretta
Scalise
Scott (VA)
Sensenbrenner
Serrano
Shea-Porter
Sherman
Shimkus
Shuler
Smith (NE)
Smith (NJ)
Stark
Stearns
Stupak
Taylor
Thompson (MS)
Tiahrt
Turner
Udall (CO)
Udall (NM)
Visclosky
Walberg
Walz (MN)
Westmoreland
Whitfield (KY)
Wittman (VA)
Young (AK)
Young (FL)

My best to you always,

Lou Farris, MBA, Realtor(r)
"That Realtor(r) Guy, In Shorts"
Global Realty Marketing

303.683.4603 direct
720.222.3482 fax
lousellsco@gmail.com

The Voters Were Heard - NOW WHAT???

Lou Farris (Keller Williams Executives Realty) — Mon, 29 Sep 2008 17:15:04 -0500

The measure to rescue private industry was defeated. There are a lot of emotions around this issue, to be sure, and these are running high.

We are in an election year, and this further exascerbates the issue. The leaders in the House and Senate showed their true colors today, and although the measure was defeated, they had to admit that the plan that was presented was not a sound or truly workable plan.

The Fed, and Treasury DO NOT need such overarching power, and we do not need socialism in the country anyway. The Constitution guarantess that our RIGHT, to pursue happiness will be reasonably unimpeded. When the government is allowed to have too much control of private businesses socialism will take root, and we will lose freedom.

If the taxpayer is further burdened with deb in the form of taxes used to bail failed managers out, and "save" their companies, we will all lose in the short and the long run. Let them fail, and they will either be absorbed with their debts, or the investors, realizing their sins will step in and reorganized to keep their assets live.

Liberality in lawmaking is never a good thing for the populace. the more liberal the lawmaking, the less freedom the individual will truly possess.

Wall Street needs to be accountable to its clientele, and the clientele needs to realize that you cannot gamble and continually win. Your gains and losses when gambling tend to balance out, or will work in favor of the house.

Will our markets return? YES! Absolutely! First they have to stabilize and become more reliable. Then consumer confidence will rise, and the cash will again flow more freely. There is a lot of paranoia at the moment. Think about it; the markets are moved on the fears of the people, and on the optimmism of those who follow the major investors. Bad news sells papers.

When reason is smothered, panic ensues. That is what is happening. If we place higher taxes on imports, the foreign markets will be strapped and have to open their taps, too. Heck, if we brought more of our industry back into our country, we could employ more people, provided we keep the union out of it.

Unique Ability -- Book review

Lou Farris (Keller Williams Executives Realty) — Fri, 12 Sep 2008 09:47:45 -0500

I have been on another legendary rading binge. I currently have 8 titles going at once, and finished three others.

One of these, loaned ot me by a friend was from Strategic Coach, and is titled Unique Ability. It was a good title to read, and helped me take a look at the things I do, take a self0inventory, and determine not to do some things. more importantly it made be resolve to do more of some others, in those areas where I have a "special tuning" or ability that makes the work go easier.

I am in the process of shoring up some weak areas, through getting help wiht htem, or deciding if these are things I really even need to be doing. In other ways i am learning to simplify some tasks that have to get done, by reserving time to actually do them, when they don't impact my most productive time nd tasks.

I am becomnig more reaxed and less panicked now, and know that as I put practices in place more effectively, I grow in efficiency, too. That will mean i don't have to pound my head against the wall for more hours than necessary.

This book will soon become a part of my permanent collection. It will be a reminder to take a periodic inventory, o I can stay closer to the top of my game.

All the best,

Lou Farris, MBA, Realtor
Regional Marketing Director
Global Realty Marketing
303.683.4603

http://loufarris.point2agent.com

Should Fannie and Freddie be Bailed Out?

Lou Farris (Keller Williams Executives Realty) — Mon, 08 Sep 2008 14:09:04 -0500

Just Like the boy whocreid wolf, banks and investmetn firms are crying "Baiolout!" and they are crying loudly. The Fed is listening, and instead of asking "Why jump?," whne the banks tell them to do so, is saying, "HOW HIGH?" the truth is this jump call, isn' tjust being made by Fannie Mae. It's "kissin' cousin"

Freddie Mac who seems no less bent on getting some of that "free" Treasury money. Yep, the Fed, which is not a government entity, but a private banking corporation is behaving like United Airlines, and Bear Stearns Who now have their platinum parachute firmly and warmly wrapped around them. Chuck Grassley (R) IA said on the news today that the fear he had was moral hazard. With all of the chanting about chnage in politics today, what we are seeing is change... in our financial markets and structures that is causing changes in the real estate markets. The public is being affected that Sellers aren't getting what they hope for when they sell, and buyers are able to get a bargain, but qualifying for the loan is harder these days. who is reasponsible for a lot of these issues?

Countrywide home Loans, and its sub prime subsidiaries Long Beach Mortgage and New Centruy Mortgage (now defunct) added their own fuel to the frie that is now swirling over the taxpayers' heads. banks buy and sell each others' mortgages "all the time," trading on discount and collection rates. In this way, they leverage their profits, and supposedly earn more profits for their investors. By eliminating riskier loans bby selling them off to other banks, the leverage game continues to promulgate more profits for the banks. G. Edward grimes talks abou thisx in his great book, The Creature From Jekyll Island. He shows how the banks are making loans with 1% leverage, and then reloaning the same money ten times over, with the net effect being that the leveraging is increased, along with the risk.

Citi also participated in the, as did WaMu, who today gave its CEO Killinger the boot, with a $25MM pay package in severance. This news is disturbing, because it means that we as investors, or taxpayers, or employees of a company are willing to reward bad behavior. Think about it, if you fouled up your job royally, as so many bank presidents and CEOs have done, would you be rewarded with a huge pay package? NO! in fact, the doorknob would break your tailbone, as it got slammed into you. yet, we give enormous severance packages for a "nice try." Bank of America rewarded Countrywide's failures...by buying them!

Other banks are in the mix, too, but to a lesser extent. US Bank, Wells Fargo, and many others, along with their servicers all participated in the run-up o fht e market, and hoped to prolong it for as much time as possible. Now, the dirigible has crashed, and the Hindeburg is on fire. Unfortunately, we, the taxpayers will be demanded to foot the bill.

WHAT IS THE CURE?

in my opinion, the market is doing its best to correct itself. What needs to happen is that Fannie and Freddie need to eb allowed to sink or swim on thier own merits. if the Fed wants to bail them out, let them do it with someone else's money, and leave the taxpayer out of this snarl.

Small businesses succeed and fail on their own merits. let the mortgage giants do the same thing. Let the investors take the slap for their greed, and the we can return the market to normal quicker. Another thing this woul dmake possible is more rapid modification of lloans going into default, which would allow homeowners to stay put, and have a roof over their head. If homeowners are having honest difficulty, due to job loss, death i the family, or other real hardships, they should be abl eto get a forbearance of their payments for 90 dyas, and then the loan interest previously collected whould be transferred back against the principal, and the loan value recalculated to prevailing rates, at a fixed interest rate.

Thiswould not bail everyone out, as the financial position of some people is so severely deteriorated that there isn't a good cure for their financial illness. still, this would stem some of the bleeding and help the mortgage capital markets return to normal organically. The current fix is just to throw more tax money at the problem. That creates only more imbalance in a family's finances.

I teach both buyers and sellers basics of financial management, as a condition of retaining my services. I promise to be up front with them, and private to the world. this saves running a credit report, and loweriing or affecting their scores. In the next month or two, I am going to be teaching people in seminars on the topics of: Housing searches, getting a better mortgage, fixing your own credit, eliminating credit issues, why credit is important when selling a home, and others.

I am always studying this stuff, and my revelations are that most people don't understand things in their true light in our current times. they still persist in doing what their parents did, or the neighbor did, etc. That won't work for anyone any more.

... Not if we want to keep from seeing this sort of thing again.

Let me know what you think.

Lou Farris, MBA

That Realtor guy (In Shorts)
Global Realty Marketing
303.683.4603

copyright and trademark notice: Logos, trademarks, and any copyrights belong to their respective owners, and are used here for illustration only.

What Impact Will the Presidential Election Have on Your Business?

Lou Farris (Keller Williams Executives Realty) — Sat, 06 Sep 2008 10:11:11 -0500

This is probaly going to get me in trouble with everyone. I am treading into tempestuous and contentious waters. But the question is important, or i would not ask it.

National elections are a change in command and this "changing of the guard" is something that I can see having a profound effect on the real estate and mortgage market. Whenever we change Presidents, economic policy makes changes, too.

The issues affecting us today may affect us on more pronounced ways come January:

- Fuel prices
- Interest Rates
- the War on Terror (It isn't just Iraq, but Iraw was the origin of the war)
- Foreclosres
- Taxation

I have my own odeas about these issues, and the effect of one team over the other winning November's election. What are your thoughts?

Lou Farris, MBA, Realtor, Lender
"That Realtor Guy (In Shorts)"
Global Realty Marketing
Global Equity Lendeing
303.683.4603

Letting Go

Lou Farris (Keller Williams Executives Realty) — Wed, 20 Aug 2008 09:40:00 -0500

Today, whether due to a change in the biological clock, or finishing the process of my son's college send-off, I had one of those rare moments where two dissimilar things have a similar outcome. I was struck oddly by the thought of attachments, to things and to people which become unhealthy.

I have witnessed a lot of self-induced trauma in the few days I have been on campus with my son. I have watched parents, mothers and fathers, stress over letting a child go on to greater things. One had things planned so tightly, that even the schedule provided was further subdivided into small and highly dedicated blocks of time to visit with faculty members and other things. This morning, that same parent was upset, because the schedule was off a few minutes for drinking the morning coffee. The parent's student spent the morning rolling eyes, shrugging, and generally expressing difficulty with all of the scheduling issues, etc.

I realized how fortunate I was not to be strapped to any such silliness. An old and dear friend, a former teacher gave me some sound advice: every day from the time your children are born, take a step back. Tht we, when it is time to turn them loose, you will have them in sight, but not so close to be able to reach out, grab, and strangle them with your insecurities.

The same thing applies when selling a home. You have built a collection of knick-knacks, furniture, clothing, and many memories during the course of the time in which you have lived there. Owning a home is a lot like having a child. You stack up the stuff and the memories. Then, you get a transfer to a new job , you suddenly fid yourself with the same sending a child off motions you would have when sending a child off to school. You don‘t want to let go of memories you have "stored" in the walls, which makes it difficult for a number of things to occur.

The first thing that happens, because of the attachments to the memories you have stored, not to mention what things you have "harvested" is that you cannot see the clutter and detractors in your home. These things create distractions for potential buyers, and provide a reason to say, "No" to purchasing the house. You are attached to your home, and subconsciously cannot fathom someone wanting to live anything differently than you do. That, in effect is a market limiting factor, and one that costs many sellers thousands of lost dollars. An honest and objective third party will be a valuable tool in eliminating all clutter and other purchase distractions.

Secondly, are the things you expect. You expect a market price at the top of the market, and are only willing to entertain such pricing guidance. As a result, you limit the number of true professionals who can actually sell the house successfully. You will only hear what you want to, and there are a number of hungry and inexperienced, newly licensed agents who will be more than happy to dissatisfy you. They will quickly ask what you think your house is worth, and that is what goes in the listing agreement. Later, when the house is still on the market, and you haven't had a showing, you are wondering if the agent is doing anything to sell your home. The agent is probably attending every board meeting, and other function possible, and calling anyone possible to see if any interest can be generated. That is because the agent doesn't want to tell you that you need to modify (aka lower) the price. Every time the agent has to have this discussion, the agent feels a sense of failure, and so do you. Because the property is not properly priced for the market, you also feel the agent has failed you. In reality, you have failed each other. Your expectations were unrealistic, and so were the agent's. The truth is that you cannot make red turn blue. When the agent simply agrees with your assessment, unless there is grounding in facts, there will be disappointments.

Third, you have to look at the market spread for the area in which the property is located. That means a more sophisticated trend analysis is necessary. A simple Comparative Market Analysis (CMA) will simply not do. This specialized analysis must consider the trends for the area, and other factors, such as your property's condition and repair costs, and the economics of the area for the property to be a valid and reliable analysis this takes more work an expertise that many agents actually have, but it is the best tool for assessing the value of a property. This tool is one of many available, and helps to prepare you for success without the failure of improper

Like moving a student to the dorms, preparation for the move should be paramount in a homeowner transition. Having things pared back to the essentials will eliminate moving bottlenecks, and damage to possessions. With each family member packing a box a day, and properly creating an inventory of the items to be moved, it is possible to be ready move at a reasonable pace that won't leave you or others exhausted and will help you get packed in days, not weeks. This will also make unpacking much easier. Most importantly, by starting the packing early, you prepare yourself better to sell the home, and will have put away the things that are the biggest distractions to a quicker and more profitable sale.

I have now completed the process of getting a student ready to take life on. The last thing I need is a codependent relationship that will stifle my son's growth and make me his caretaker for life. I am celebrating his independence comfortably, because I moved the things out of my mind and life that would cause my to mourn his growth. I can only encourage you to prepare for the sale of yur house the same way. You will thank yourself for it, and will do better on your sale.

My best to you always,

Lou Farris, MBA, Realtor®
"That Realtor® Guy (In Shorts)
Global Realty Marketing
303.683.4603
720.222.3482 fax
http:///loufarris.point2agent.com

The Value of Mobility For Real Estate and Mortgage Professionals

Lou Farris (Keller Williams Executives Realty) — Mon, 18 Aug 2008 17:02:43 -0500

The Value of Mobility For Real Estate and Mortgage Professionals

Have you truly considered the real value of mobility for your offce? For those f you just starting out, this is an important consideration. A desktop in an office may seem the perfect solution to one of the higher costs of operating a real estate or mortgage business, because they are relatively inexpensive. You can get adecent desktop system for about 4300 on sale today, with a monitor. But, before you celebrate, consider the following thoughts.

A good mobile phone plan, with the right phoe can connect you seamlessly to the interenet, but the screen size can be liiniting, when working with clients. Another factor is that using a cell ohone with a Bluetooth broadband modem will usually not allow you to be connected and talk simultaneously.

I opted for a tablet PC, aircard, and GPS enabled cell phone to cut the number of devices down. The inverter in my vehicle and a power strip make it possible for me to be totally connected at any tine, nad have the ability for my clients to digitally sign documents using a normal signature. My software allows them to do so via email, but the tablet is handy for clients who are not connected to the internet or fax.

The tab;et was a bt more ex[ensive, about a third more than a similarly equipped notebook, but it has been more than worth it. I can do everything from create contracts, to provide web conferencing for clients on the road. I can also send photos from preview tours to multiple clients effortlessly and more quickly than if I had to go back to the office. With a small portable hard drive (mine is 200GB in a notebook sized drive), and my digital camera, I can store the picrures and videos from hundreds of virtual tours and send them to clients as needed. Total weight of the stuff in my back is around 7.5 lbs including the power adapters, and some exta rechargeable LiOn batteries for the Nikon camera I use to photograph homes with.

Today, I am writing you from a ecture hall at Rensselaer Polytechnic Institute, in troy, NY. I am here for student orientation today with my son, who is studying architecture for the next five years. If I wasn't so mobile, I couldn't have been here to experience this event n my son's life. Today in breaksz I have been able to juggle a dozen different transactions, collect a referral or two, and write this instqllment.

How do you manage the technology side of life? Let;'s discuss the various ways we can better use tools that are available for us, and which are the bst you have found?

My best to you,

Lou Farris, MBA, Realtor®
Global Realty Marketing

Colorado Mortgage Broker Licensed
Global Equity Lending

4601 Ketchwood Cir
Highlands Ranch CO 80130

303.683.4603 direct
720.222.3482 fax

http://loufarris.point2agent.com

Fuel Prices and Their Effect On Markets

Lou Farris (Keller Williams Executives Realty) — Sun, 10 Aug 2008 23:26:13 -0500

I'm not sure how this is affecting your business, but it is something i am looking at. With fuel prices shooting from $3 to $4 I am a lot more careful about when I drive to preview or show. I work to control costs, and this is a cost that is important to control.

Last year I still covered 10 counties. This year I had to make a hard decision, and cut back to 5. I may yet cut things again, and really sharpen my focus in a much more tightlly defined market area. Historicallyl, I ahve not thrown money at print ads, or a lot of "fluff" advertising: magnets, calendars, schedules, etc. I know my reaction to these pieces, and don't want others to have a similar reaction. In addition to this, I just don't feel like filling someone's mailbox woth waste paper.

So all of that aside, I am interested in learning what you are doing to curb rising energy costs.

My best to you all,

Lou Farris,MBA, Realtor
"That Realtor Guy (in Shorts)"
Global Realty Marketing
303.683.4603

http://loufarris.point2agent.com

It's Getting Sloppier by The Minute

Lou Farris (Keller Williams Executives Realty) — Sat, 26 Jul 2008 22:06:58 -0500

We have the Freddy, Fannie, IndyMac bank issue. We have former CountryWide bank officials pouring their guilty hearts out on MSNBC to tell us they wrote "liar loans." There is widespread pandemonium in the markets, as everyone everywhere is trying to make a quick buck. there is trouble reaching as far as Dubai, with it's .49 a gallon gas, but higher food and other bills equalizing the costs of living.

No economy is immune. Europe achieved its growth goals...near zero at 1.7% or less, which means people are dying of old age faster than newborn future taxpayers can take over. With their value added taxes and government medicine programs, that means a strain far worse than what we project for Social Security. the same thing is also beginning to occur in other nations, regardless of population growth in India, Pakistan, and Asia.

Many countries are experiencing food and water shortages, riots, and the deaths of many innocent people. Their corpses are left in the streets, because it is too dangerous to retrieve them. This will ultimately lead to illness for many of the residents.

And, here we sit watching the theatre sized TV screen in our private Home Theatre, complete with the popcorn machine, snack bar, and cushy stacked movie style seats, with built in massage.

Yes, we are in the middle of ad and apparently unstoppable business blunders in the financial community. We have replaced gratitude with greed, and want for need. We are an ungrateful lot. We no longer acknowledge God, whom we claim to trust. We have ignored the Founding Fathers' injunctions against being rash to make changes in the Constitution. We have kicked the proper discipline and order of worship form schools, and teach children that we descended from slime mold. All of the underpinnings of what have made the U.S.A. a great nation and one worthy of respect are slowing being eroded, and we all sit idly by. We will make someone the leader of our country over rhetoric we fail to substantiate. We let some be above the law, and others gain celebrity for breaking the law.

Sorry, I just read the news. I know I should never write an article after reading the news. in fact doctors have proven that reading the news can cause clinical depression, despair, and acts of violence. Pardon me while I walk next door to beat the neighbor's dog, because I don't have one. I am entitled to beat dogs, because their barking is offensive. It's my right, and nobody is taking it away from me.

If you have read this far, you are wondering what the point is to all of this cynicism. You who have read m past pieces know me (I hope) to be somewhat level-headed, and mostly positive and even on occasion funny. Why the Dark Knight?

Fear not. I am still positive, and am still encouraged, despite all of the bad press these days. We have a rough road to recovery. It is almost like walking again. As a nation, we will feel the shock of these events as each ripples through us and we become jaded and disillusioned. Still, we will come through this, just as we did in '29, '55, '69, '74,and ' 84. It may not be comfortable to admit we gave the Fed too much power, and expected too little of the people we voted for, or expected too much of others, but we will find a way to get through it.

One of the things we will have to do is become a domestic producer, again. We need to make our goods, employ people, and put more cash flow inside the economy to strengthen it. We'll have to forgo balance of trade a bit, find our own oil, and return to a commodity (gold-backed) insured monetary system. We need to create new technologies to put power on the grids from each U.S. home, and end the drain on coal and oil for energy production. We also need to provide grants and credits for individuals as well as companies to develop new methods for generating home heating and other electricity, without so much reliance on power companies, and the waste incurred transmitting power over long distances.

Water systems can be designed better, too. Packing materials can be made, which will do less damage to the environment, if we want to make them so. Don't get me wrong. I don't support Al Gore's thoughts. I think that he is, in fact and in principle dead wrong. I believe most climate events are as cyclic as the seasons themselves. things that affect the environment include shifts in the flow of the jet streams, and the tilt of the Earth on its axis. It isn't just the belch from the tailpipes. still, we can eliminate the use of hydrocarbons in transportation, and improve air quality easily with a retrofit device, and by building cars that don't need heavy, energy-draining batteries Personally I would like to see vehicles running on single malt whiskey. I could then drive home from work, and stick a straw in the tank for an afternoon shot.

What the really inconvenient truth is boils down to irresponsibility, and unaccountability. We, as a nation want entitlement, which is the denigration of the person, as it allows them to and encourages them to be unproductive. We also have a problem of rights sans responsibilities. Our leaders fail to tell the truth and are praised for it. when they tell the truth, as they know it they are run out of town on a rail. The truth spells out the problems we are lazy and averse to hearing. The lies, like drugs mask the pain of the truth, but leave the wound festering. In the end, if the infection is not contained, the patient will lose limbs.

Here is something to learn from. The Federal Reserve publishes many document that discuss finance. I found this article on ARM loans

Reflections on Our Profession and Technology

Lou Farris (Keller Williams Executives Realty) — Fri, 04 Jul 2008 10:57:51 -0500

It is Independence Day, and I get to enjoy the scenery in beautiful Purgatory, Colorado. I worked like a dog on my aircard during the drive here, and the last day and a half of our stay, never failing to get in touch with important business, making sure things stayed on track. I will write several offers over the next few days, but still have the majority of my time for a vacation over the Independence Day holiday. I was reflecting on all of the things I had to do, and honestly there are times I wonder how I juggle so many balls all the time. I am working on dozens of transaction sides on the mortgage, real estate, or both, and sometimes double side the real estate transaction.

I was thinking how much technology has affected the real estate business, and in what ways it is shaping the future of the business. We have small, portable electronics. GPS systems and even cell phones that have GPS systems in them (like my HTC Mogul^TM). PCs with screens that you can sign valid contracts on (combining CTM eContracts^TM software and my HP Pavilion^TM tablet PC). Office management software (I use Microsoft CRM and Outlook with Business Contact Manager on the phone and tablet). There is accounting software (take your pick - MS Money^TM, QuickBooks^TM MS Small Business Accounting^TM...). We have Realtor.com, and any number of other real estate search tools, including our local MLS systems to locate and list properties with. We can publish professional brochures ourselves, print our own business cards, create door hangers (Yes, Avery has stock for these, too) and make virtually everything we need to maekt ourselves and our services.

With digital camera, we can create professional-looking virtual tours that we can publish anywhere we choose, including those mini CDs and DVD disks. I will soon insert photos from our trips through Colorado on my websites and even here on this blog page, once I sort through the thousands I have placed on DVDs. We can do all of this in a relative instant, because we no longer are bound to photo labs to process film for us.

We have changed the very fundamentals of the means by which we can provide service to our clients, and are now very connected. Back in the day ERA Realty^TM had the market cornered on technology. Electronic Realty Associates, Inc., was a company that could put technology to use in helping people around the globe buy and sell property. That was the vision of founder Jim Jackson. What was the groundbreaking technology he used? A fax machine! This is something we now look at as quaint. Back them they were big, clunky, hot, power hungry machines that mace a statement. They were also very expensive. Now they are relatively cheap, a commodity, and one I use only when I have to. My tablet is linked to a desktop computer back at my Office, by Microsoft Groove^TM which allows me to securely view files on my PC at home from anywhere my tablet has internet connectivity. I don't even have to print them, since I can use softcopy for everything; I can even have client sign these "faxes" on my tablet screen.

Sometime I will share with you a handwritten blog article, written on my tablet, once I figure out how to do it. I will show you the versatility of the technology, as it can also convert my scrawl to text. I can talk to my computer, without buying any additional software, and it will type what I say. For my blind clients, I do it the other way around, having the computer say what is typed on the screen (from contracts).

Has all of this technology put printers, photographers, couriers, or a host of other industries out of business? No! In fact, they are still doing a great business. We still use them, and other companies to distribute literature to our farm areas. That is rather impractical for me, as my farm is 5 counties (I had to cut back because of fuel costs. At $4 a gallon the other 5 counties in the 10 I was covering weren't productive enough to justify the costs).

Personally, other than the listing materials I use and business cards, I really don't print much. I try to do my part by reducing the amount of paper I use to virtually nothing. I have been cancelling magazine subscriptions that I cannot receive in digital form. I can make an eBook of any magazine on this laptop, and "clip" articles to email people I want to share them with. For those few people I know without internet access, I send a "traveler" CD. It's like a digital chain letter that these folks share with each other. I also use Microsoft Live^TM technology, and have a special site jut for them, which they can use from any public library.

So back to the question: Has technology hurt our business? I don't think so. While it is true that some Sellers and Buyers choose to go it without the assistance of a Realtor^TM, we aren't missing much. These people would have advertised a FSBO listing in a newspaper, anyway. They would be the ones content to handwrite their FSBO stuff on a 3 x 5 note card to post at the local supermarket. They are the ones who would expose themselves to all of the liabilities of selling a home. They are the ones who like to "fly by the seat of their pants." People shop the internet for homes. We all know that. They also shop the internet for groceries, and advice on how to treat a painful, burning itch that they can't identify. I don't see grocery stores disappearing or Doctors no longer practicing, either.

You see, people need other people trained specially to help them reach their goals. The old saw of two heads being better than one really does apply. The Bible says that a wise man considers the counsel of others. Why? An unbiased party can often see things from an unconsidered perspective. This "outsider" can more easily spot flaws or benefits to a certain strategy and can come to the table with valid and valuable insights based on professional training, and thoughtful observation. That is why Realtors^TM are trusted sources of information.

The people I have talked to would not dream of buying or selling without a Realtor^TM and I appreciate that most of them want to work with me. They trust my observations and opinions about the market in their areas and send me unsolicited referrals, because they know how much effort I will pour into locating or selling their real estate for them. I am sure most of the Realtors^TM reading this fell that way about their clientele. I hope all of the clients out there also feel they have a professional they work with, whom they can place their absolute trust in.

Technology may have changed some of the methods by which we ply our trade. That is just the means of the transaction process. The end is to provide high-quality, thoughtfully delivered service and advice to our clientele. Machines will not make us obsolete, if we innovate ways to provide better service through their use. The trick is not to use things irresponsibly. That is like pounding a nail with a screwdriver, or as Indiana Jones said in the latest episode "brining a knife to a gunfight."

The real estate business is still very much a personal business. It is still very "high touch," and because it is still people-based, needs a personal touch. That is an important distinction, because real estate, like law, medicine, and accounting deals with a very important aspect of a person's life in one of the most important investment transactions in their lives.

An advertisement cannot consider a person. A person can consider another person. One to another, we can comfort, counsel, and work together to make the most of this important transaction. Technology by itself cannot. Technology is a conduit for tools and information, but it is not everything there is. At the heart and soul of any transaction are people. That is why Realtors^TM, accountants, lawyers, plumbers, d0ctors and a host of other people exist in various occupations. We actually need each other.

Forelosure: Are You a Part of the Problem or Part of the Solution?

Lou Farris (Keller Williams Executives Realty) — Wed, 25 Jun 2008 08:45:39 -0500

This is a rather serious question. It is the reason that there are real estate licensing rules, and mortgage licensing. It boils down to ethics.

Here are the questions:

How do you determine the viability of a Buyer prospect?
How do you assess the ways you can best serve your Seller?
What do you do to establish a Buyer's qualifications?
How do you break the truth to your saellers when setting a listing price, when their home is worth less than they owe?

The foreclosure problem is real, and it will be with allof us, regrdless of market for a while. I am interested in finding out how you are dealing with the situation. Are you doing anything to help troubled homebuyers keep their homes? If so, what steps are you taking?

Have you formed any strategic partnerships with service providers in your area who counsel homebuyers or homeowners on their options?

What counseling do you offer your Buyers especially to keep them from becomng a statistic?

Are you helping them better understand their mortgages, and do you offer them any advice about how to get the best mortgage to meet their future needs?

Why am i so inquisitive all of a sudden? I am not just looking for a smoking gun.

Here is the meat of this post:

I see the problem as two things - pandemic in its effect on the economy and homeowners, and endemic to our industry. We perpetuate the same thing we all decry. Why make suh an insulting statement? It isn't from a need to be insulting, or even that I am actually attempting to insult anyone. It's just that all are equally tempted to consider their commission above all else. i am no different, especially when the money gets tight. I started a review of last year's performance and what I had done. I take a six month evaluation of what i do; a look in the mirror, if you will. I closed some deals and got some loans done to be sure.

Then I looked at how my practice changed last year. because of the high volume of loss mitigation accoutns I served (I did 950 loan workouts last year for 1200+ homeowners, out of 1540 homes I visited). The volume was staggeringly high. I racked up 30,000 local miles last year in real estate, driving 10 counties, to meet with Buyers and Sellers, and those who were losing homes to foreclosure. I referred 78 people to agents in areas too remote for me to personally serve, and did hundreds on first and second BPOs. Prices of these homes ranged from $65,000 to near $7MM. the work demographoc ranged from dock laborer to heart surgeon.

- cartoonstock

So, you now have a broad and high level view of what I faced in Colroado last year. Digging deeper, I looked to see what happened to the people i worked with. What was there that would keep my Buyers and Sellers alike from having future trouble? What about those for whom I had labored to fix loans for? What would they be like in the next two years?

bugbash

I called a few of them to find out, so I could tell how consistent i was, and to see what the effect f things I left with them had been. The response was mostly positive. I compared the results of my calls to those who called me for further counsel. These people by and large were amazed that simple tools could help them monitor debt, and gain control of the financial households.. All I had left them with was a structured debt repayment worksheet, and a financial statement. However, I also provide intructions on how to load and shoot the gun, as it were. The tools does no good without an explanation of its proper use and funciton. People were telling me they were on there way to debt freedom. One, in particulaar, cut out all unnecessary spending, locked up his credit ards, and paid all of his debt off in 7 months, although we were projected at the time to pay everything off at his present standard in 18 months. He told me nce he saw how he had been digging a hole, he wanted to put the "dirt" back in it quickly. He uses my debt management tool for his manageres to report on their uses of funds in their departments, and said he has cut waste in the company as a result. He says his managers are happy, because the tool is easy to use, and they get a better picture of how thier uses of funds is affecting the company.

-JYI

So I collected some data, and asked myself some important questions? Now What? With this informaiton, I have to plan the last half of this year. I have to decide how I am going to perform better, and quicker, more effectively, and more efficiently. I have to determine how I am going to keep in contact with clients, at what frequency, and what services I will offer to set a great pace for this year. In the end it isn't what I think that matters, but more than ever what I do that counts.

I decided that it is best for me to be a part of solving foreclosure problems. To do this I will have to take a strong stand against doing whatever a Buyer or Seller wants, and really tune into their needs more. I have to be "out there" advocating homeownership and the proper uses of equity. I have to campaign not for a political candidate as much as for their constituencies. In short, I am there with the sole prupose of helping people maintain financial fitness in homeownership. I am my clients' personal trainer, keeping their financial households fit.

The commercials from feedthepig.org are out there, but an annoying image of a man wearing a pig head in an office doesn't cut it for me. I am on a grassroots mission, doorknocking at $4 a gallong to make sure hojmeowners are aware of the things affecting their fiancial health.

What are you doing?

- graphics courtesy of Google(tm) images

Book Recommendation

Lou Farris (Keller Williams Executives Realty) — Wed, 18 Jun 2008 09:06:30 -0500

Please read The Creature From Jekyll Island. It is one of the best books I have ever read. It is a history of the Federal Reserve System, which is incredibly detailed, and well sourced.

It is probably the best $25 you will ever spend, and an investment that should be a part of every parent's teaching of finance to their children.

I would be interested to knwo how many of you in AR land have read it already, and what your thought of it are.

Lou

Microsoft OneNote

Lou Farris (Keller Williams Executives Realty) — Wed, 18 Jun 2008 08:09:02 -0500

This is a relatively newer addition to the Office Product Line. I use is with my tablet to take notes, convert pdf files into documnents that can be signed on my tablet screen (and converted back to pdf for security), to write grocery lists, travel iterneraries, and basically to avoid ever having to use paper.

with this utility, TMeContract paperless contract software, my Sprint aircard, a cell phne and a DC invertor in the car, I never have to use paper. I can file notes, meetings, logs of showings and other endless amounts of information with this.

Here's another great tool. I use the recorder in microsoft to record CE classes, and seminars, while I take my HANDWRITTEN notes in OneNote. Now i have what i thought i heard, the recording of what was said, and the things i misseed taking notes all in one conventient place.

Outlook and the rest of the Office suite cooperates wonderfully with OneNote, as does the eContract software. Adobe loves it.

When I find a picture I like, or need to pull a graphic off the screen to send to a tech support person...OneNote to the rescue! It also works with Microsoft's built in speech recognition, which comes in handy for making a telephone call log while driving.

You can build forms in Onenote for recording informatin, and ccreate tables that can be imported into acess and Excel.

This is one of the most intuitive and easy-to-use products, and one with the most versatility of any I have seen in a long time. You can try it free at www.mirosoft.com/onenote.

Disclaimer: I am a Microsoft Partner.That does not mean I will tout something because of this. If the product does a good thing, great! I am happy to report it. I am equally happy to let users knwo of things I find that can cause a headache.