Rob's Blog

Save An Executive

Rob Wesler (Harborview Financial Partners, LLC) — Sat, 13 Dec 2008 15:49:51 -0600

This was just forwarded to me and I figure at this time of year, perhaps we all need just a little help....

http://www.youtube.com/watch?v=qDC0qcf0kzE

Without a doubt, one of the funniset posts I have seen in a long, long time.

So come one, come all, join in the festive Holiday Spirit that pervades all of us!

Maximize Your Drive Time

Rob Wesler (Harborview Financial Partners, LLC) — Thu, 02 Oct 2008 07:10:31 -0500

Maximize Your Drive Time
Tips & Tricks to Ease Your Commute

As the population continues to grow, more and more people will be clogging the highways during your commute. Rather than becoming increasingly frustrated and discouraged, why not use this time to do something productive? There are many ways you can achieve this, and here are some technologies to help you do it.

Have you ever been traveling along and suddenly had a great idea? Since it's generally not safe to jot down notes while driving, make sure you have a digital mini recorder to get those ideas down. Another solution is to put your office voicemail on auto dial and leave messages for yourself.

A great way to utilize your drive time to the fullest is to listen to audio books or enhance your professional development with informational CDs. There's a wide range of options available for download or purchase.

Where Has All the Private Money Gone?

Rob Wesler (Harborview Financial Partners, LLC) — Mon, 29 Sep 2008 05:52:12 -0500

It seems in years gone by, I used to get all kinds of e-mail sfrom "Private Investors" or "Hard Moeny Guys" touting their cash to lend. Headlines like "close in 24 hours", "fast service" and my all time favorite ",y wallet has no bottom".

Well here we are and I have 5 deals on my desk right now that need that hard money, I-just-lend-on-equity guy and I think he has moved on, relocated or in fact, after many years of abuse, his wallet did in fact have a bottom and it was discovered by an excavator or a spelunker named Mortgage Crisis.

One would think that in times of some great cash deals, and an absolute ton of bank fall out, that these private investors would be circling the wagons, but in fact they are not.

I had a deal a few weeks back, 70% LTV, refi, 720 mid-score, full doc and no one wanted to do the deal. The best responses were that based on the "lender's appraisal", the value wasn't there. IN other words. the quotes of "up to 80% LTV" really meant up to about 30% LTV of real market consideration.

So if anyone has a real investor who wants to make some real money, please do not hesitate to call on us. We have numerous deals we could place as early as today, ranging from purchases to refis, ugly credit to impeccable scores and low LTV positions to higher one. Commercial, residential, unsecured business lines, business only loans- we have the borrowers, now all we need is the cash.

Client Referral Letter: Help Your Clients Send You Referrals!

Rob Wesler (Harborview Financial Partners, LLC) — Wed, 24 Sep 2008 06:28:20 -0500

A follow up letter with a Customer Evaluation Survey can generate referrals from recent clients and associates. I have included a sample referral request below. I send a similar letter out to all of my clients, along with my own Customer Survey to make sure my team and I are maintaining our goal of 100% customer satisfaction. I have found that I get better response by including a stamped, self-addressed envelope with each letter. Dear Customer Name, My team and I want to thank you for the opportunity to work with you on your recent transaction. As you know, my business is based upon referrals. If you have family members or friends who you feel would benefit from the type of service you received on your recent transaction, please jot down their names and phone numbers below. My team and I will contact each referral you provide us with, and make sure they receive the same superior service we have provided to you. I have also enclosed a Customer Service Survey. If you feel there is any way we could have improved our service, please let us know. We are always interested in taking care of each and every client as though they were a member of our extended family. Referral Names and Phone Numbers: 1.______________________________________________________________ 2.______________________________________________________________ 3.______________________________________________________________ 4.______________________________________________________________ 5.______________________________________________________________ Thank you for your feedback and referrals! Do you see how this sort of letter can generate leads for you at virtually no cost? Try it out, and keep me posted on your success! Rob Wesler rwesler@hfplending.com 813.600.5488

Open Your Mind to Wealth

Rob Wesler (Harborview Financial Partners, LLC) — Sun, 29 Jun 2008 18:17:13 -0500

Quieting Your Critic

Robert Kiyosaki's bestseller, Rich Dad, Poor Dad,* has helped millions to create roadmaps to their financial goals. Central to his series is the notion of open-mindedness. Instead of sizing up a situation and saying, "I can't afford that," he suggests saying, "How can I afford that?" By reshaping the idea into an open-ended question, creativity is stimulated, which leads to inspiration.

Here's a list of critical thoughts and their positive replacements. I hope these help to prime your mind for money-making thoughts.

We can't afford it.

That's too expensive.

I don't have enough money.

I'll never be able to afford that.

That's a waste of money.

It's too late to get started.

I'm not good with numbers or investing.

It's too risky.

I really want to get that!

How can we afford it?

Where can I get that for less?

How can I make more money?

When will I be able to afford that?

How can I make that productive?

How can we let another day go by?

Where can I learn more?

What could reduce the risk?

Do I really need that?

As open-ended thinking becomes more natural for you, you'll also find yourself better able to help clients who have critical objections. Plus, the difference in this kind of thinking is tremendous. If you aren't already quieting your critic, you'll find that these suggestions bring excitement into your daily life.

Consider writing out this list, and adding to it when you discover new negative thoughts. Invent positive replacements, and write those down, too. Review the list frequently, and practice!

Tell Us Your Best BBQ Recipe

Rob Wesler (Harborview Financial Partners, LLC) — Sun, 22 Jun 2008 07:51:11 -0500

Okay, so here is the ticket.... it is early on a Sunday morning and the big party (we host an annual pool party here on the horse farm) is only a few weeks away. I can tell because all of the fireworks tents are springing up all over the county. So with today starting out sunny and cool, yet-to-be-warm, I have all of the ingredients for today's cookfest already basting and in the fridge. Later this afternoon the feasting will begin with a few frineds coming over to watch the PGA while the wives and kids blast in the pool. Maybe a few cigars too.

So my mind starts to drifting and I have to wonder about the menu for this year's big blast. While most of the food is catered, we always like to add a few of our own specialties. I figure that AR would be a great place to get some recipes from all over the country to celebrate Independence Day in true style.

So how about it Rainers, anyone want to put in their two cents? Below is my favorite recipe for a killer dish, bar-b-q shrimp. The recipe was adapted from a famous TV chef, and the BAM was decreased just a tad since it seared my kids tongues.....

3 pounds large Gulf Shrimp, in their shells
2 tablespoons Creole seasoning, recipe follows:

Cracked black pepper
2 tablespoons olive oil
1/4 cup chopped onions
2 tablespoons minced garlic
3 bay leaves
3 lemons, peeled and sectioned
2 cups water
1/2 cup Worcestershire sauce
1/4 cup dry white wine
1/4 teaspoon salt
2 cups heavy cream
2 tablespoons butter

Traditional southern Biscuits, recipe follows:

1 tablespoon chopped chivesPeel the shrimp, leaving only their tails attached. Reserve the shells and set aside. Sprinkle the shrimp with 1 tablespoon Creole seasoning and fresh cracked black pepper. Use you hands to coat the shrimp with the seasonings. Refrigerate the shrimp while you make the sauce base.

Heat 1 tablespoon of the oil in a large pot over high heat. When the oil is hot, add the onions and garlic and saute for 1 minute. Add the reserved shrimp shells, the remaining Creole seasoning, the bay leaves, lemons, water, Worcestershire, wine, salt, and black pepper. Stir well and bring to a boil. Reduce the heat and simmer for 30 minutes. Remove from the heat, allow to cool for about 15 minutes. Strain into a small saucepan. There should be about 1 1/2 cups. Place over high heat, bring to a boil, and cook until thick, syrupy, and dark brown, for about 15 minutes. Makes about 4 to 5 tablespoons of barbecue sauce base. Heat the remaining 1 tablespoon of oil in a large skillet over high heat. When the oil is hot, add the seasoned shrimp and saute them, occasionally shaking the skillet, for 2 minutes. Add the cream and all of the barbecue base. Stir and simmer for 3 minutes. Remove the shrimp to a warm platter with tongs and whisk the butter into the sauce. Remove from the heat. Mound the shrimp in the center of a platter. Spoon the sauce over the shrimp and around the plate. Arrange the biscuits around the shrimp. Garnish with chopped chives.

Creole Seasoning (also referred to as Bayou Blast):

2 1/2 tablespoons paprika
2 tablespoons salt
2 tablespoons garlic powder
1 tablespoon black pepper
1 tablespoon onion powder
1 tablespoon cayenne pepper
1 tablespoon dried oregano
1 tablespoon dried thyme

Combine all ingredients thoroughly.

So party on and celebrate in style. Maybe we can all try some of the recipes posted and report back. I may even try a few next weekend to practice...

Rob

Power Reading for Realtors

Rob Wesler (Harborview Financial Partners, LLC) — Fri, 20 Jun 2008 05:52:57 -0500

It is my humble and genuine opinion that success in any business is based on genuine relationships. And the more of these strong relationships you have, the more successful your business will be. This is true in any market – good, bad, or otherwise. You probably believe in the same theory, or you wouldn't be here on Active Rain, you wouldn't be readin this, or someone who thought you could benefit from this topic wouldn't have given you a copy.

With this in mind, I'm recommending the national bestseller, The Go-Giver: A Little Story about a Powerful Business Idea by Bob Burg and John David Mann, as the latest addition to the Power Reading Series for Realtors, part of a Gift of Knowledge CD package that I give to my referral partners all across the United States.

In the book, the authors create a compelling parable as a tool for revealing the Five Universal Laws of The Go-Giver (someone who is focused on giving and not getting) and how anyone can master this art of positive persuasion and dramatically increase their bottom line!

For co-author Bob Burg, being a Go-Giver means adding value to others in a way that helps them significantly, while at the same time, increases your own sense of joy and improves your bottom line. The book, he says, was designed "to help change that common belief that you can either help others OR help yourself, but not both at once."

Here are the Five Universal Laws of the Go-Giver as outlined by co-author Bob Burg:

The Law of Value: Your true worth is determined by how much more you give in value than you take in payment.
The Law of Compensation: Your income is determined by how many people you serve and how well you serve them.
The Law of Influence: Your influence is determined by how abundantly you place other people's interests first.
The Law of Authenticity: The greatest gift you have to offer is yourself (i.e., your "authentic" self).
The Law of Receptivity: The key to effective giving is to stay open to receiving.

Bestselling author Bob Burg, who regularly appears on the motivational rally circuit with Zig Ziglar, Coach Lou Holtz, Les Brown, and former U.S. President Gerald Ford, has become known for his entertaining style, while providing information that is hard hitting, immediately applicable, and profitable! And The Go-Giver, which he co-authored with Mann, is no different.

But, before you go out and invest your time and money in this excellent book, I have a great Gift of Knowledge interview with Bob Burg on the subject of the Go-Giver, and how it specifically applies to professionals in our industry. In the interview, Burg reveals how together we can utilize his principles to increase our success in business and in our personal lives as well.

The interview is called The Go-Giver: Cultivating Business Relationships, and if you'd like a copy of the CD, please don't hesitate to give me call @ 813.600.5488 or drop me an e-mail at rwesler@hfplending.com.

Great Way to End the Day

Rob Wesler (Harborview Financial Partners, LLC) — Wed, 11 Jun 2008 17:24:27 -0500

Benjie Menendez, the Cigar Master from Partagas, made a special appearance today at my local haunt to put on a show. Although I will admit most who may read this won't care (but those of you like myself who imbibe in a great smoke will know where I am coming from). I slipped out of the office an hour early, and after a day of no return calls from numerous AE's (is that indicative of the times or what?) to meet up with several friends at our favorite walk in humidor for some real relaxation. Benjie is rolling multiple samples of several blends and I am happy to report I picked up ten (10) of his finest hand rolls available. I also was able to get a deal on a few boxes of the Cifuentes Partagas 1845 line and some custom blends only available at shows just like this one. So, as I pour myself a nice Bloody Casear and prepare to smoke a fresh Partagas, I bid a fond hello to all of my friends in cigar land......

Rob

Summerize Your Home

Rob Wesler (Harborview Financial Partners, LLC) — Wed, 11 Jun 2008 13:07:03 -0500

Can you believe we are just days away from summer? If you haven't gotten all of your spring cleaning done just yet, or you have other projects you've been meaning to do around the house, now is the perfect time to get going on them, before the hottest days of summer descend upon us.

OUTSIDE YOUR FRONT DOOR
The following tips and suggestions are for projects concerning the exterior of your home.

Shade trees and landscaping
Planting shade trees in your yard is a great way to cut down on the heat inside your home. The climate where you live, as well as your home's layout, will determine the type of trees you'll want to plant, as well as where to plant them. Check with a local nursery for suggestions on both. In addition, it's also a good idea to include planting a shade tree next to your air conditioner's outside unit. Believe it or not, the extra shade will help it run more efficiently.

It's no secret that landscaping increases the value and curb appeal of your home. But there something else it provides. Vegetation that surrounds any paved areas (driveways, walkways, sidewalks, etc.) reduces the reflected heat and sunlight.

Gardening equipment
Get your lawn mower tuned up by a lawn mower mechanic. You should be able to find several of them in your local yellow pages. Also, take inventory of all lawn and gardening equipment, including hoses and sprinklers. If anything needs to be replaced, now's the time to do it.

Check the roof and clean gutters
Please use caution whenever you climb atop your roof. But if you are inclined to do so, late spring is the perfect time of year for a quick survey. Check for loose shingles and overly-weathered spots. While you're up there, you may also want to examine the exterior of your chimney for any cracks. Take a look at the condition of the chimney cap as well. The good news here is that most repairs can be done any time before fall, and whenever your budget allows.

Another rooftop project for late spring is the cleaning of rain gutters. Taking it on during late spring beats doing it later in the year when there's more rain. It also cuts down on dry debris that can be a fire hazard during the summer.

Wash your windows and window screens
If you haven't made this project part of your spring cleaning, it's not too late. Sparkling-clean windows will only enhance your view of the outdoors. Speaking of screens, this is also the perfect opportunity to replace any worn-out screen doors.

Paint your home's exterior
The heat of summer poses many difficulties for painting your house. Late spring, on the other hand, holds the perfect conditions.

Get your pool and patio ready
If you own a pool, you probably already know what to do in order to get it in shape for summer. To keep your energy costs down, remember to reduce the heater temperature and keep the pool covered whenever it's not in use. Doing so will help the water to maintain its warmth. It's also a good idea to do any electronic filtering during off-peak hours.

One thing you probably haven't thought about is purchasing equipment for outdoor activities. From Super Soakers and floats to volleyball and badminton nets, they may actually be much harder to find come summertime when the demand is higher. Stores like Target, K-Mart, Wal-Mart and Costco are great places to start your search.

While you're at it, take a good look at your patio furniture and barbecue. Can they be cleaned, or do they need to be replaced? Once again, options on these products can become minimal, and even more expensive, once the weather gets hot.

Clean out your garage
If you didn't take advantage of this project during your spring cleaning, do not put it off any longer. Otherwise, there's a good chance you won't get to it until the fall. Take it from us, organizing a garage can be an excruciating experience during the hot summer months.

Create a clothesline
If you have two trees in your yard that are in relatively close proximity to each other, there's a good chance you can create a clothesline. Line-drying provides a natural, fresh scent to your clothes, cuts down on your energy bill, and allows your house to stay much cooler.

INSIDE YOUR FRONT DOOR
Now that we've addressed the outside of the house, let's explore some of the projects inside the home.

A/C
We cannot stress how important it is to have your air conditioner in perfect working order before summer. Taking care of any issues during the summer can potentially result in an increase in price, as well as an increase in the time it takes for a technician to visit your home. It is not unheard of for a customer to wait two or three weeks for a repair to be done.

In addition to making sure your air conditioner is in perfect working order, it is now a good time to replace any filters. Simply remove the old one and take it to your local home improvement center. Sales representatives should have no problem finding its replacement.

Decorate for the season
You can start by removing items like heavy throw blankets, drapes and area rugs, as well as any darker-colored decorations. Replace them with furnishings that are both lighter in color and in weight. Doing so will open up and lighten any room.

Since your fireplace will not play host to very many fires during the summer months, it doesn't mean that it can't be of use. Simply remove the grate from inside the fireplace and replace it with either a fireplace candelabrum, or several individual candles. The incandescence provided by the candles brings a wonderful ambience without turning up the heat.

Donate or have a garage sale
Now that you've cleared out your winter décor (and hopefully cleaned out your garage), here's your chance to either donate any unwanted items, or sell them. You can always put the extra cash towards taking a vacation.

Paint
Just like the outside of your home, late spring is also the perfect time to paint the interior. It's at this point of the year when the weather best lends itself to keeping your windows open. This practice will cut down on some of those overpowering smells that are a result of fresh paint.

If you decide to paint the inside of your home, think about lightening the existing color as opposed to darkening it. Lighter colors are not only inviting, they create the illusion of a bigger, more open space.

Buy fans
Installing ceiling fans and using portable fans are great methods for cutting the heat inside your home. They are also far less expensive to use than an air conditioner. Using fans of any kind also enables you to keep windows open at night, allowing fresh air to circulate throughout the house.

Install dimmer switches
Dimmer switches not only add ambience, they also cut down on energy and unwanted heat. Another tip is to use low-wattage light bulbs whenever possible.

Good luck and happy "summerizing!"

If you want to include the idea of some larger improvements and need a mortgage source, please feel free to contact me.

Coping with Rising Gas Prices...

Rob Wesler (Harborview Financial Partners, LLC) — Tue, 10 Jun 2008 21:03:48 -0500

It seems like not a day goes by that we don't hear about the rising price of either groceries or gasoline. This might not be such a difficult pill to swallow if we were talking about luxury items, but food and fuel are hardly that. They are everyday necessities that we cannot live without. In the spirit of making your life easier, the following are our tips for saving at the checkout stand and at the pump. And be sure to watch the Kiplinger video above to see if shopping at the big box stores can really help trim your food bill.

SAVING AT THE CHECKOUT STAND
Saving money on groceries comes down to the diligent practice of two virtues, self-control and organization. Let's start with self-control.

It is very important to understand that grocery stores are designed to entice the consumer into buying products. Everything from displays to promotions is geared to increase sales. If you're looking to save money on your weekly groceries, it is imperative that you combat these temptations. The following are some great tips that are sure to help.

Don't shop on an empty stomach
Your pocketbook will benefit if you eat before you go grocery shopping. Stores are filled with beautiful displays and enticing aromas. Subjecting yourself to these on an empty stomach can be pure torture. Bringing along of bottle of water is good for fighting the cravings that are may hit after you pass by any number of temptations.

Shop alone
Tag-alongs like children or friends will only increase the time you spend in the store. They can also be enablers when it comes to making purchases.

Coupons are good...to a point
There's no arguing that coupons cans save you money. But here's the problem: many of the coupons that are issued are for new products. This is a way for companies to promote their products, and to entice consumers into trying them. If you blindly buy into this, you will quickly find your grocery bill growing instead of shrinking.

We suggest going through the Sunday paper and cutting out only the coupons for items you already buy. The rest of the coupons can either go in the recycling bin or can be traded with friends who use those particular products. If that's not an option, there are countless online message boards and forums that deal solely with coupon trading. There's a good chance there are also private groups in your area who get together for the sole purpose of trading coupons. Do a Google™ search and see what you find.

Make a shopping list
It may seem that making a shopping list would fall under the category of keeping yourself organized, but it really has more to do with maintaining your self-control. Items on the list represent the things you need, or what you are budgeted to buy. By sticking to your list, you have a much better chance of not falling victim to impulse purchases. It also gets you out of the store much quicker than shopping without a list. Moving through the store quickly has been shown to limit spur-of-the-moment buying.

So now that we've addressed a few components to maintaining your self-control, let's talk organization.

Much of your organizational success depends on how well you understand your family's needs. Every family is different, so there is no way we can set forth a plan that is perfect for all. What we can do, however, is give you some really great tips to get you started.

Know your schedule
There are families who eat dinner together at the same time every night. Then there are families that never manage to eat together. Where does your family fit in? The reason we ask this question is that the answer has a lot to do with how you should shop.

If your family eats dinner together regularly, we suggest planning out meals a week in advance and then shopping accordingly. This is a great for taking advantage of sales and for utilizing ingredients in several other meals throughout the week. It also cuts down on trips to the market. Simply put, it's a great way to get a lot of bang for your buck.

However, if dinner is inconsistent in your home, then it makes no sense to buy a week's worth of fresh food. There's a good chance that a lot of it will go to waste. At this point, you are better off making more trips to the store and buying lesser amounts. The key here is to figure out your eating schedule, and create a shopping schedule to match it.

Comparison shop
Multi-stop shopping for the purposes of buying a product at the lowest price is not always great for saving money. If you consider the extra time and gasoline used, it can often be far more expensive. Generally speaking, the best deals for average-sized families will be found at a local grocery store, so do the majority of your shopping there.

Warehouse stores can be big money savers if you use them correctly. Remember, you are buying in bulk, so unless you have a big family and a lot of cold storage, they may not be the best place to purchase groceries. However, when it comes to non-perishable items like paper goods, household cleaners and bottled water, warehouse stores cannot be beat. Word to the wise: shopping lists are even more important at warehouse stores. Get in, buy what's on the list, and get out. Otherwise, your cart can quickly be filled with many things you don't need.

Navigate your grocery store
Here are some great tips you may not have known about:

Companies pay huge stocking fees so that their products can be stocked at an adult's eye level. These will always be the most expensive products. Look at the top shelves and the bottom shelves before you decide which product to buy.
Store brands are great money savers. Many times they are produced by the same companies as the name brands and contain the exact same ingredients. The only difference is the label and the fact that they are not advertised. This savings is then passed on to the consumer.
Many stores have a bargain bin for meat and produce. It may sound unappetizing but the truth is they are merely the products that need to be sold and consumed that day, or shortly thereafter. They make a great first stop for people who shop the day of for their food.

SAVING AT THE PUMP
There are two ways to save when it comes to the amount of money you spend on gas. The first way is to buy less expensive gas. Believe it or not, this does exist. The second way is to use less gas. Let's start with the former.

Gasbuddy.com
If you have never logged on to www.gasbuddy.com, you should make it a point to do so. Operating since June of 2000, Gasbuddy.com is a network of 181 local gas price websites. Its unique value is that it allows consumers to share information regarding the prices at gas stations throughout the United States and Canada.

Consumers throughout North America can log on to the site on a daily basis to report prices at their local gas stations. The website then sorts through the information and lists the stations that sell the cheapest, as well as the most expensive gas.

As you can imagine, the information provided by Gasbuddy.com is not only helpful on an everyday basis, but it can also be used to help plan out driving trips. The website will even text or email price updates to your phone, allowing you to keep current with the best deals.

So, now that we know where to purchase gas at the lowest prices, let's take a look at how we can use less of it.

Carpool
This is one of the best methods for using less fuel, reducing the amount of traffic, and helping the environment all in one shot. The easiest way to start a carpool is by talking to co-workers who also live in your neighborhood. If this situation doesn't exit, the Internet is a great resource for regional carpool sites that can set up matches. Many of these websites also have carpool calculators to help you determine the amount of money you can save.

Care for your car
It's a concept that is very easy to understand. The harder your car has to work, the more fuel it will use. Start by honoring all scheduled maintenance as recommended in your owner's manual. If your car isn't running right, don't put off a visit to your mechanic. Postponing a repair may actually be costing you money.

Don't neglect the tires
Keeping your tires properly inflated will do wonders for your vehicle's mileage per gallon. A good rule is to check your tire pressure at least once a month. The best time to do this is in the morning when the air inside the tires is cold, as it will give you the most accurate reading. Tire pressure gauges can be found at any automotive store for just a couple bucks and the recommended PSI (pounds per square inch) should be printed on the side of your tires.

Keep your mind on the pedal
What you do with your gas pedal will have a direct effect on how often you refill your tank. The first thing you should know is that it is always better to stop and restart your car than to allow it to idle for a long period of time. Think of it this way. Do you use more electricity by keeping the lights off and turning them on when necessary, or by leaving them on even when they're not in use?

The next bad habit when it comes to the gas pedal is what's known as "jackrabbit driving." If you are unfamiliar, it is the constant pressing and releasing of the gas pedal. It not only makes for an uncomfortable ride, it also wastes gas. When driving on the freeway, it is recommended to do so in cruise control. It controls your speed and saves on gas.

Easy on the A/C
Using your car's air conditioner causes the vehicle to use more gas, so our recommendation is to use it only when necessary. Keeping your car garaged, parking it in the shade, the use of window shades and slightly cracking the windows are all good methods for controlling the temperature inside your car.

Lighten your load
It's a good idea to remove anything from your vehicle that doesn't need to be there. The heavier the payload, the more gas your vehicle will burn. Simply put, get the junk out of the trunk.

Buy gas in the morning
The colder the outside air, the denser the gas. Denser gas equates to more energy for your dollar. It may be a small difference, but it will add up over time.

We hope these tips help. Remember, just because gasoline and food are necessities, it doesn't mean we have to be held hostage by high prices. Good luck being a smart consumer.

Personality Profiling: Pluggin into What Others Want

Rob Wesler (Harborview Financial Partners, LLC) — Mon, 02 Jun 2008 08:05:13 -0500

We all know the Golden Rule, which states, "Do unto others as you would want them to do unto you."

Dr. Tony Allesandra, a national public speaker, quotes The Platinum Rule(tm)*, "Do unto others as they would want you to do unto them."

Personality profiling should be a major component of what you do on a daily basis in your business practices. It reaches deep into the area of sales and understanding your clients better, as well as how you relate to the members of your team. There are many different types of personality profiling techniques available today. I highly recommend DiSC® Testing. The four letters, D-I-S-C represent the four main personality types.

"High D" personality types are drivers. This is the "type A" individual who constantly strives for excellence, shows a significant degree of impatience, and is the dominant individual in the decision-making process.

"High I" personality types are influencers. They are social people, and are tremendous referrers. They are people you want to create alliances with, because they will bring you a significant amount of additional business in the future.

"High S" personality types are supporters. They make ideal team members, and are more concerned about the success of group efforts rather than their own individual success. They are the classic Indians that every chief needs to have onboard. In a sales situation, they are people who like to talk about their family. They tend to socialize well with their friends and family members and, in this respect, they too make good referrers.

"High C" personality types are conscientious thinkers. They think a process through from beginning to end before making a decision. Never make the mistake of trying to close a High C on the first telephone conversation, or in the first appointment. They need time to dot all the I's, cross all the T's, and analyze things to a significant degree. They respond much better to an analytical approach and desire the straight scoop.

More information is forthcoming on how to use DiSC testing and personality profiling to perfect your sales approach and build better relationships with your team members and referral partners!

Watch for more strategies I use to understand my clients' needs and provide stellar customer service!

Short Sales: A Unique Experience

Rob Wesler (Harborview Financial Partners, LLC) — Fri, 30 May 2008 14:02:00 -0500

While a short sale may be a last resort for many homeowners facing foreclosure, it also represents a great opportunity for potential home buyers and real estate investors. This article is designed to help answer a few basic questions about the substantial risk and reward involved in this extremely complex and often drawn out process.

What is a Short Sale?

A short sale is a legally-binding agreement to allow a home to be sold for less than the amount that is owed. And, while short sales are not by any means common or easy, because of increasing inventory levels and foreclosures in some parts of the country, lenders are much more eager to negotiate with borrowers who are having trouble paying their mortgages. For potential home buyers and real estate investors, a short sale also offers a great opportunity to purchase property at a significant discount.

However, don't expect a lot of help from the lender without first providing a sales contract from a qualified buyer and all the information required by the lender's loss mitigation department.

Of course, lenders are not looking to bail out "flippers" or other borrowers who simply overextended themselves. In most cases, a borrower must have suffered a serious financial hardship that directly caused him or her to default on the mortgage: the loss of a job, a serious illness, or the death of a loved one.

A written declaration and supporting documentation demonstrating financial hardship will definitely be required by the lender. This may include pay stubs, tax returns, and liquid asset statements, among other documentation.

Key Considerations to Keep in Mind

It's important to note that the difference between what is owed on a mortgage and the final amount the lender collects after the costs of the sale, including real estate commissions and possibly other charges don't simply disappear in a short sale. In the past, this deficiency or "canceled mortgage debt" was considered taxable income to the borrower. However, thanks to the Mortgage Forgiveness Act of 2007, the tax burden for qualifying canceled mortgage debt (as high as 35%) for primary residences only has been temporarily waived until the end of 2009.

If there are multiple liens against the property, all lien holders will have to be involved in the negotiation process, not just the first lien holder. Therefore, communication and patience are essential components of any short sale. This is why an experienced real estate agent and mortgage professional become so valuable to this process.

Call me. Let's discuss how we can market short sales and other foreclosure alternatives to potential buyers and sellers as a unique selling proposition that clearly separates us from the competition.

The Short Sale

Rob Wesler (Harborview Financial Partners, LLC) — Fri, 30 May 2008 14:00:55 -0500

The Short Sale
A Unique Selling Proposition for Real Estate Agents

While a short sale may be a last resort for many homeowners facing foreclosure, it also represents a great opportunity for potential home buyers and real estate investors. This article is designed to help answer a few basic questions about the substantial risk and reward involved in this extremely complex and often drawn out process.

What is a Short Sale?

A short sale is a legally-binding agreement to allow a home to be sold for less than the amount that is owed. And, while short sales are not by any means common or easy, because of increasing inventory levels and foreclosures in some parts of the country, lenders are much more eager to negotiate with borrowers who are having trouble paying their mortgages. For potential home buyers and real estate investors, a short sale also offers a great opportunity to purchase property at a significant discount.

However, don't expect a lot of help from the lender without first providing a sales contract from a qualified buyer and all the information required by the lender's loss mitigation department.

Of course, lenders are not looking to bail out "flippers" or other borrowers who simply overextended themselves. In most cases, a borrower must have suffered a serious financial hardship that directly caused him or her to default on the mortgage: the loss of a job, a serious illness, or the death of a loved one.

A written declaration and supporting documentation demonstrating financial hardship will definitely be required by the lender. This may include pay stubs, tax returns, and liquid asset statements, among other documentation.

Key Considerations to Keep in Mind

It's important to note that the difference between what is owed on a mortgage and the final amount the lender collects after the costs of the sale, including real estate commissions and possibly other charges don't simply disappear in a short sale. In the past, this deficiency or "canceled mortgage debt" was considered taxable income to the borrower. However, thanks to the Mortgage Forgiveness Act of 2007, the tax burden for qualifying canceled mortgage debt (as high as 35%) for primary residences only has been temporarily waived until the end of 2009.

If there are multiple liens against the property, all lien holders will have to be involved in the negotiation process, not just the first lien holder. Therefore, communication and patience are essential components of any short sale. This is why an experienced real estate agent and mortgage professional become so valuable to this process.

Call me. Let's discuss how we can market short sales and other foreclosure alternatives to potential buyers and sellers as a unique selling proposition that clearly separates us from the competition.

The Short Sale

Rob Wesler (Harborview Financial Partners, LLC) — Fri, 30 May 2008 14:00:15 -0500

The Short Sale
A Unique Selling Proposition for Real Estate Agents

While a short sale may be a last resort for many homeowners facing foreclosure, it also represents a great opportunity for potential home buyers and real estate investors. This article is designed to help answer a few basic questions about the substantial risk and reward involved in this extremely complex and often drawn out process.

What is a Short Sale?

A short sale is a legally-binding agreement to allow a home to be sold for less than the amount that is owed. And, while short sales are not by any means common or easy, because of increasing inventory levels and foreclosures in some parts of the country, lenders are much more eager to negotiate with borrowers who are having trouble paying their mortgages. For potential home buyers and real estate investors, a short sale also offers a great opportunity to purchase property at a significant discount.

However, don't expect a lot of help from the lender without first providing a sales contract from a qualified buyer and all the information required by the lender's loss mitigation department.

Of course, lenders are not looking to bail out "flippers" or other borrowers who simply overextended themselves. In most cases, a borrower must have suffered a serious financial hardship that directly caused him or her to default on the mortgage: the loss of a job, a serious illness, or the death of a loved one.

A written declaration and supporting documentation demonstrating financial hardship will definitely be required by the lender. This may include pay stubs, tax returns, and liquid asset statements, among other documentation.

Key Considerations to Keep in Mind

It's important to note that the difference between what is owed on a mortgage and the final amount the lender collects after the costs of the sale, including real estate commissions and possibly other charges don't simply disappear in a short sale. In the past, this deficiency or "canceled mortgage debt" was considered taxable income to the borrower. However, thanks to the Mortgage Forgiveness Act of 2007, the tax burden for qualifying canceled mortgage debt (as high as 35%) for primary residences only has been temporarily waived until the end of 2009.

If there are multiple liens against the property, all lien holders will have to be involved in the negotiation process, not just the first lien holder. Therefore, communication and patience are essential components of any short sale. This is why an experienced real estate agent and mortgage professional become so valuable to this process.

Call me. Let's discuss how we can market short sales and other foreclosure alternatives to potential buyers and sellers as a unique selling proposition that clearly separates us from the competition.

Private Lender Needed

Rob Wesler (Harborview Financial Partners, LLC) — Thu, 29 May 2008 06:44:45 -0500

Unusual deal....

Borrower requires quick cash infusion of $1.3MM to finalize purchase of an IRS Tax Lien Certificate to be securitized after the redemption period by two commercial healthcare buildings in Texas with a current tax assessed value of $2.75MM. Borrower will pledge $1.2MM in equity in Florida real estate as well as Assignment of IRS Tax Lien Certificate as collateral and will allow first mortgage position on subject property at conclusion of redemption period. Looking for 12-month minimum term with all other fees/PPP negotiable. Borrower has deposited $208K cash and will forfeit if not funded by deadline.

Looking to secure funds to close by Monday, June 2nd, 2008. Please contact Jim or Rob at 813.600.5488 ASAP.

Building A Referral Network

Rob Wesler (Harborview Financial Partners, LLC) — Wed, 26 Mar 2008 21:58:02 -0500

How to Reach Out to Those Around You Everyone has heard the expression, "It's not what you know but who you know." Of course this isn't entirely true, but having a successful referral network can lead to a significant increase in satisfied clients with minimal effort on your part. Have you ever gone into a large home improvement store, trying to find a certain item, only to come face-to-face with a wall of similar products? It can be overwhelming. Imagine if you had an expert right there to tell you what you need to know. Now imagine a team of experts throughout the store, all ready to assist you. This is what a successful referral network should be. Choose Your Partners Wisely It is important to select your referral partners carefully. When you recommend someone, your client is trusting your opinion. It only takes one bad experience to sour a relationship. On the other hand, a positive experience will stay in a person's mind and encourage them to return to you for additional advice. Be sure that you are confident about the quality of work your referral partner can provide. Get To Know Your Network It is easy to remember that Mr. Smith is a CPA or Ms. Taylor is a financial planner. But what is it that makes them stand out? It's helpful to sit down with other professionals and learn about their unique selling proposition . By taking the time to learn about their specialties, you will be able to provide a more qualified referral. You may also use this opportunity to identify how you work with clients and why your services are worth recommending. Referral Karma By teaming up with other professionals outside of your field, you are providing your clients with an extra level of service. Not only will they appreciate it, they will also remember you the next time they need a reliable source. In addition, your referral partners will keep you in mind when their clients are looking for a professional.

Actions Speak Louder Than Words

Rob Wesler (Harborview Financial Partners, LLC) — Mon, 24 Mar 2008 21:46:57 -0500

Actions Speak Louder Than Words
Make a Great Impression with the Right Body Language

Practicing scripts is a wonderful way to perfect what you say to clients. It's also important to study how you look when you deliver your speech. Body language can account for up to 90% of the impression you make in a conversation, and it can enhance or undermine the point you're trying to make.

Here's one way to find out whether your gestures are telling customers you are desperate or self-confident. Set up a video camera and practice your pitch to your spouse, siblings, or co-workers in a role-play scenario. Talk to them just as you would a new client. Then watch the tape and see what your body language is telling people. Here are some key things to look for:

Do objections make you frown or lose your train of thought? Frowning indicates defeat or anger, and is obviously negative. Smile as you counter the objection with a positive comment. Mirroring the other person's body language could possibly win them over subconsciously. Imitate the way they posture themselves, and your non-verbal communication says, "I like you, you're just like me."

Do you nod your head when asking for a commitment? Nodding the head signifies approval. This is a technique that's often used in the restaurant business. When the server nods her head "yes" while reciting the dessert menu, your response is more likely to be, "Why sure, I'll take one of those!"

Do you make appropriate eye contact, without staring down your client? An intense stare makes people uncomfortable, and can even make them feel you're a little off balance. On the other hand, if you avoid eye contact, the person you are speaking to will probably think you're lying. Be attentive and smile. This tells them you're a winner!

What is your posture saying? It's important to look relaxed, but don't overdo it. Slumped shoulders give a negative impression; on the other hand, leaning back and clasping your hands behind your head tells people you are quite full of yourself. If the bottom half of your body is covered by your desk when a new client is sitting across from you, they're missing half of your body language. So the way you position yourself in your chair is very important. Relax and lean slightly forward with one shoulder as you tilt your head just a bit. This shows you are captivated by what they have to say.

In business, we often have to remain positive even in a negative situation. Being attentive to your own body language can make an incredible difference in how others perceive you. This is one area where practice really does make perfect. Rest assured, if you're not practicing, your competition probably is.

Mindset of a Superstar

Rob Wesler (Harborview Financial Partners, LLC) — Mon, 24 Mar 2008 21:41:04 -0500

The Mindset of a Superstar
Three Steps to Success

Brett Figueroa is a personal success coach who worked under Tony Robbins for 6 years, and is now the owner of Momentum Strategies in Denver, Colorado. Brett says that there are three primary factors that put someone at the top of their game.

The Ultimate Goal.

Remember the movie City Slickers? What is your "one thing?" The one thing you want to truly make your life feel complete. "Too many people", Brett says, "go through life with a notion of what they want, without ever figuring out exactly what they want." Do you want to retire in a beachfront estate? Create a happy family? End world hunger?

The Strategy.

Once people know what they want, they need to map out how to get there. How will they position themselves to where they can reach their goal? If you don't yet have your map, look to others who have achieved what you want. Offer to buy them lunch so you can pick their brains. Create a map rather than just wandering around, hoping to stumble onto your dreams one day.

The Timeline.

When will you achieve your goal? What do you need to get there? When must you reach specific sub-goals in order to reach your final goal? Brett points out that if a person sets aside just one hour a day for their personal goal, they will have spent nine 40-hour weeks working on it by the end of the year!

If you don't already have these three components defined in your life, I recommend taking some time to do so when you're away from work. Check out some self-help books from the library, or buy a highly-rated one at Amazon.com. Get inspired, get ready, then get to work!

Mortgage Broker Call to Arms!

Rob Wesler (Harborview Financial Partners, LLC) — Fri, 02 Nov 2007 07:48:07 -0500

Most of you are aware of the bill that is on the table right now to make Broker YSP illegal. This would severely affect all mortgage professionals. This bill is attempting to infringe on our right to earn a living by setting a precedence as to how much we can charge or how much money we can earn.

The next thing could be a bill to restrict realtor's fees, title companies and on and on. There is no reason that we all have to pay for the mistakes of a few from the past. So long as we abide by RESPA and HOEPA Guidelines and we all disclose our fees farily and honestly, we don't need "big brother" telling us we can't make a fair living!

Please sign the petition below as this bill is completely unwarranted.

http://www.petitiononline.com/mod_perl/signed.cgi?HR3915

You are welcome to copy and paste this link to everyone in your address book!

Type "A" Versus Type "B"

Rob Wesler (Harborview Financial Partners, LLC) — Tue, 04 Sep 2007 07:55:55 -0500

Buyers versus Browsers

Type A: A tendency towards tenseness, impatience, and aggressiveness.
Type B: A tendency towards a relaxed manner, patience, and friendliness.

Both of these personality types have their merits, and both tendencies exist in all of us to some degree. But when it comes to homebuyers, Type As are the ones you want to be working with.

Kathi McLean, a real estate superstar who, with her husband, averages more than $40 million per year in volume, says their turning point was when they decided to seek one type of customer over another. "We had spent an inordinate amount of time on people who drained a huge amount of energy," she says. "We made a conscious decision to cut out those kinds of clients. We stuck to our guns, and within a very short time, our business just took off."

So who makes better buyers, Type As or Type Bs? Well, Type A buyers are the ones who are urgently seeking a home, who have a deadline and a willingness to make concessions to get what they want. They're probably moving to the area, trying to get out of an apartment, or otherwise motivated.

Type B buyers, on the other hand, are lazily looking around, probably already in a home, or just looking for a new place. Maybe they want a smaller home now that the kids are gone, or something with an additional room or two. But they're not in a hurry; they're willing to pass on deals that don't match their specifications exactly.

When you realize a buyer is Type B, you must do everything to bring out their Type A personality. Remember, everyone has some A and some B - it's your job to guide their mood towards a home. Here are some tips:

Know what kind of home they would fall in love with. Have them describe the perfect house. Take notes!

Look for any deadlines they might not be sharing. Are there changes coming in their family that will precipitate the move? Would it be better to move before those changes come?

Share any law or zoning changes that will alter the market. If interest rates seem to be on the rise, remind them of the thousands they'll save by buying sooner rather than later.

When you find a home they would love, tell them you found their home rather than a property they should see. Create the urgency, be contagious, and let them catch it. Do not give up on Type B buyers, but put most of your time and effort into targeting the Type A's.

In closing, remember: If you hear them say, "Oh, we're just looking," it's up to you to get them excitedly and aggressively seeking a new home.

Proactive or Reactive?

Rob Wesler (Harborview Financial Partners, LLC) — Sun, 02 Sep 2007 14:56:18 -0500

Proactive or Reactive?
It's up to You

Everyone makes choices. Their outlook on life, whether at home, at work, behind the wheel or at the theater, directly correlates to the decision to be either positive or negative. In essence, it's as simple as whether you see the glass half full or half empty. As author Stephen R. Covey puts it in his much publicized book, The 7 Habits of Highly Effective People,* you can choose to be proactive or you can choose to be reactive. He takes his theory a step further, saying that a proactive stance leads to greater success and contentment. From that perspective, a reactive person is sabotaging himself or herself.

Covey contends that every single day, people have 100 opportunities to be proactive or reactive. Let's say you're in your car on the freeway and an overly zealous driver is practically sitting on your tail in the fast lane. You're driving at the speed limit, actually a couple of miles faster than the law permits. But the motorist behind you thinks he's at the Indy 500. You can stay where you are, infuriate him and possibly get rear-ended. Or, you can move out of harm's way, to that opening in the right-hand lane and let him pass. He's in the wrong, and there's no question about it. Will you follow his lead? Will you be proactive or reactive? It's up to you.

It's very empowering to look at life from Covey's point-of-view. If you moved to the right lane, the reckless driver didn't force you. He didn't win. A vehicle can be a deadly weapon and you made the sensible, mature decision that shows why you deserve a driver's license and the other driver belongs on roller skates.

At work, you can be proactive if you take the time to learn about the principles of nature - in this case human nature and people interaction.

"If you ignore the principles of human effectiveness, you (can) work very hard, but still not get what you want," Covey says. Say that you've been working with a prospective client for the past three weeks, really putting a lot of effort into the new relationship. Then you learn, through some mutual acquaintance, that this would-be client ended up going to a competitor for the same service. It happens, and you don't have to necessarily blame yourself. But, you should take time to reflect on the past three weeks. Were you really proactive or were you reactive? How did you interact with the client?

United We Stand: A Call To Action

Rob Wesler (Harborview Financial Partners, LLC) — Tue, 28 Aug 2007 07:13:07 -0500

Tribute to Our Fallen Children

Anyone who knows me will know that I avoid conflict when it comes to discussions of religion, politics and anything else that makes me squirm because my beliefs may be different than most.

With the news of yet another fallen soldier from the Tampa Bay Region, I feel an urge to speak up and with all of its' billion members, I figured this would be a great place to start.

The story is that of PFC Cody C. Grater who died under enemy fire in Baghdad on July 29, 2007. Although there is no "short story", an e-mail from the local Chamber of Commerce alerted me to the fact that there was a procession being formed to line the streets of Spring Hill, Florida as the cars proceeded from the church to Cody's final resting place.

Below is a copy of the entry that I posted to Grater's Guest Book and I wanted to share the sentiments for everyone in this country, from each corner of our nation, in hopes that we pay the respects due to these fine people:

"... As I drove North along the route to find an appropriate spot to stand, I was amazed at the number of participants. I am happy to say that I had to drive almost 6 miles to find a spot that looked "vacant enough" for me to fill, as it was my desire to make sure that at no point along the journey, would the family not see someone standing there for him, the way he stood for us.

I know I was thinking of how he spent his time standing in the sunshine for me, in 65 pounds of gear, with no relief in sight, wondering if at any minute he would be fired upon. So I stand for him.

I kept thinking that I had the solace of knowing that in about an hour, I could go home to my house, jump in my pool and change out of my sweaty shorts and t-shirt.

Cody wasn't able to do that and although he did come home, he didn't enjoy the pool, or the air conditioning or the cold Diet Coke. He didn't get to see his family or his dogs or ride his four-wheeler. He didn't get to speak to his friends on the cell phone about Friday night's football game.

When I finally got in the house, after my dip in the cool waters of the luscious blue pool, my 3-year old daughter was wondering why I still had tears in my eyes, almost 2 hours after the procession past me.

The biggest part of all, is that she WILL understand why and I will never forget...."

Feel free to post an entry to Grater's Guest Book or tell us of a fallen soldier near you so that we can honor them in the same manner.

http://www.legacy.com/lebanon/gb/GuestbookView.aspx?PersonID=91788649

UNITED WE STAND!

Mortgage Advice From a Senior

Rob Wesler (Harborview Financial Partners, LLC) — Mon, 27 Aug 2007 05:47:22 -0500

I was talking to a client over the weekend at an open house being held by one of my Realtor-partners. I guess there was a surge of shoppers due to the weather or maybe a bus from the local senior center was nearby and taking a detour. I was on the lanai of this very nice home near the water misters to stay cool and an older gentlemen struck up a conversation asking me if I was the mortgage guy on duty. I responded positively and and he asked what the term of the new mortgages on the market are.

I told him mortgages are running terms of "up to 40 and 50 years these days", although I would not recommend them.

He thought for a moment and then said, "Son, look at me, you see how old I am? I don't even buy green bananas anymore"....

What Was Your Name Again?

Rob Wesler (Harborview Financial Partners, LLC) — Fri, 24 Aug 2007 19:23:13 -0500

Tips for Improving Memory

Have you ever been introduced to someone and, about two seconds after shaking his hand, forgotten his name? Don't worry. This is not evidence that you're losing your mind or that you're on the fast track to senility. Turns out, this is actually an extremely common occurrence for many busy people today – including me!

The good news is that, not only is there plenty of research on the subject to help us cope with this problem, there are also a number of simple, practical actions we can take to improve our memory now and long into the future.

No Pain, No Gain

Wouldn't it be great if we could improve our memories as easily as we upgrade our computers? Unfortunately, our brains, like our bodies, require the benefits of regular exercise, a healthy diet, and other good habits – like not smoking, not drinking excessively, and getting the proper amount of sleep each night – in order to function at the highest level. If it seems that your memory is getting worse and worse each year, it could be that you're just not managing one or more of these areas as well as you probably could.

With this in mind, here are some great tips for proactively strengthening your memory:

Neurobic Exercise

You know all about the wonderful effects aerobic exercise has on the heart, but have you heard of neurobic exercise for the brain? According to Lawrence Katz, co-author of Keep Your Brain Alive: 83 Neurobic Exercises, the best exercise for the brain is to force it to form "new patterns of association" or new pathways.

In other words, challenge your brain every day; take it off auto-pilot and make it relearn or create new associations with the most routine activities of your day. The book offers numerous examples of small changes you can make to activate your brain, including: brushing your teeth with the other hand; taking an alternative route to work; moving your wastebasket to the other side of your desk; closing your eyes while putting your key in and unlocking the front door; and changing where you and your family members sit at the dinner table.

Mnemonic Drilling

Turns out there are actually three steps or stages of memorization: acquisition, consolidation, and retrieval. Once we acquire new information, like someone's name for instance, how we consolidate that data directly affects how well we're able to retrieve it from memory. Whether you're a visual or auditory type of learner, there are many mnemonic devices that can help you to better organize or consolidate the new information that you need to recall. Here's one that might help.

First, associate the data you want to remember with common images. For instance, let's say you meet someone named Jennifer Green. Imagine Jennifer playing golf, or picture her wearing all green clothes, or imagine her face painted completely green. Second, think of associations you can use to help you remember this person. For instance, link Jennifer to the quality that best fits her personality (use alliteration and rhymes whenever possible): Jolly Jennifer Green. Finally, connect sound to your memory by saying the name aloud. Do this regularly and, before you know it, you'll never forget anyone's name again!

If you have any tips on improving memory, don't forget about me!
Please call and share them with me, so I can add them to my list.

It May Be Ugly, But It Is Far From Over

Rob Wesler (Harborview Financial Partners, LLC) — Thu, 23 Aug 2007 18:04:18 -0500

Credit Crisis Cripples Markets

Safeguard Your Clients Today

Just last week, American Home Mortgage and its wholesale counterpart, American Brokers Conduit, became the latest casualties of the credit crisis. Last year, this company closed over $58 billion in home loans. Despite being, by all accounts, a well−run business, market conditions forced them to file for bankruptcy, leaving nearly $800 million in loans unable to close. Tens of thousands of borrowers have now been left without financing as a result of companies like this going under.

Clearly, with over 100 national lenders having now closed shop in the last eight months, this is no longer simply a
subprime lending issue. The credit market is experiencing unprecedented turmoil that, according to Mike Perry, CEO of Indymac Bancorp, is "broader and more serious than past disruptions."

What does this mean to the real estate market?

Sellers can no longer be reluctant to accept offers or reduce prices. Tightening credit and diminishing mortgage products will continue to reduce the pool of qualified buyers. This, along with the increase in national inventories, means now is not the time to hold out for the "best" price possible.

Buyers with credit issues or who have difficulty providing required documentation can no longer sit on the fence. If market conditions change, buyers who qualify for a loan today may not qualify a few weeks from now for the same exact loan. Just this week, many lenders have stopped offering no−Doc loans, and some lenders have even pulled back on all forms of stated loans. As market conditions continue to change, a buyer's pre−approval status can disappear even more quickly, delaying or spoiling the deal.

Subprime and Alt−A refi candidates, especially those with ARMs scheduled to reset over the next 12 months, need to act now − even those with a pre−payment penalty. ARMs borrowers struggling with monthly payments now might be shocked to know that monthly payments can double in some cases once an ARM resets.

What does this mean to you as a real estate agent?

Not only is it essential to protect your clients and your transactions, it is your fiduciary responsibility. If you have any ongoing transactions that rely on this type of financing, you must work closely with those involved on both sides. As an educated mortgage professional, I will utilize my experience and resources to help you and your borrowers to navigate through these turbulent times. Don't leave your buyers or sellers in the hands of random mortgage providers. If you don't have a trusted mortgage source who treats your clients like you think they should be treated, it is time to build that relationship. There are a plethora of solid, trustworthy and knowledgeable professionals on the AR Network who can assist.