I had not seen this one before.......

COMMITMENT

COP-OUTS---people who have no goals and do not commit.

HOLD-OUTS--people who don't know if they can reach their goals and are afraid to commit.

DROP-OUTS--people who start toward a goal but quit when the going gets tough.

ALL-OUTS--people who set goals and pay the price to reach them.

I see the stock market managed to climb it's way over the 11,000 mark after spending a night under it. These are just crazy times--companies that are icons of American business crashing left and right. Average Joe is seeing his home equity disappear (or access to it), his 401K is melting like an ice cube, gasoline and food are still in the stratosphere, and in what seems like the blink of an eye his net worth has taken a serious gut punch. We're not talking about the wealthy here, folks.....we're talking about you, and me , and your neighbor next door.

So which stalwart of American business is next? How about GE? Their stock is trading at a very low price and they have a financing and insurance division. How about SEARS? rumors of their demise have been floating around for a long time. Maybe GM? FORD? CHRYSLER? All 3? Will Uncle Sam bail them out too?

WITH ALL THIS UNCERTAINTY AND FEAR, WHAT IS AVERAGE JOE SUPPOSED TO DO?

The main thing is don't panic. The knee jerk reaction is to bail when things get bad. Instead of doing that, look for well run companies that are "on sale"--companies that have been dragged down with the rest of the market. Look for companies that are tried and true, companies that make products that we use all the time and will continue to use like laundry detergent, shaving cream, paper towels...you get the idea. Look for companies that pay good dividends-- that will help your total return and by all means make sure your dividends are reinvested so that you get more shares. Finally, make sure you're diversified. You're not always going to pick a winner but being diversified softens the blow.

ONE MORE THING.......

IF YOU OR YOUR SPOUSE PARTICIPATES IN A 401K THAT HAS AN EMPLOYER MATCH, MAKE SURE YOU MAXIMIZE THE MATCH. OTHERWISE YOU'RE LEAVING FREE MONEY ON THE TABLE.

These truly are crazy times, but it's not the first time and it won't be the last. Just don't panic and be on the lookout for good companies that are on sale.

When you are out of town, how many times have you stopped in a real estate office to introduce yourself? I have to say more often than not I get busy and it doesn't get done but just think of the possibilities! There is a chance to make a face-to-face contact with someone and get a idea of what they're like--a lot more than is possible from a phone call or email. I make at least 3 trips a year to the Phoenix area. What a great way to cultivate some relationships. There are probably more opportunities for me to refer someone to Phoenix but who knows when they may have someone moving to the Oklahoma City area.

And there are potential tax implications too. By making an office visit, wouldn't that make the trip tax deductible? I think so, but some of you accountants out there, what about it?

I know one thing......tax deductible or not, I'm going to make a stop in a real estate office on my next trip to wherever and if nothing else, hopefully make a new friend. 

Friday it started. I got an email from a lender informing us that their FHA rates had dropped to 6.00%, a drop of .50%. Yesterday more emails and phone calls as other lenders followed suit. That alone should get some buyers of the fence. Now add in the $7500 tax credit and if that doesn't get your buyer motivated then I would question whether you really have a buyer.

Is the tax credit a good deal? At first I wasn't sure but the more I think about it more I think it is. It's not the best thing Congress could have done, but it's what we have so let's make the most of it.  Lets look at some of the features of this program.

1. You do get to take the $7500 credit when you file your 2008 taxes--That's a good thing.

2. It's for qualified first time home buyers--That's a good thing and you're a first time home buyer if you have not owned a home in the last 3 years.

3. Isn't it an interest free loan? Yes, but that's a good thing--you get the $7500 to use now and you have 15 years to pay it back interest free? I'd take a deal like that in a heartbeat.

4. What happens when I sell my home? When you sell, any outstanding balance has to be repaid, if there is sufficient profit--if their is not sufficient profit, THE REMAINING AMOUNT OF THE CREDIT IS FORGIVEN.

These are a few of the programs highlights. For more information check out this website-- www.federalhousingtaxcredit.com  and click on frequently asked questions. Good luck.

My mom turns 80 this week and it reminded me of the birthday cards that tell what happened and how much things cost in a persons birth year. Do you remember when candy bars were a nickel, and a bottle of pop was a dime? Soft serve ice cream cones were a nickel or a dime, bubble gum was a penny. My high school grocery store job paid $1.65 per hour and as a college student in 1970 I remember paying $.29 per gallon for gas.

What's it going to be like for my kids? When they're my age (57) are they going to be saying they remember the good old days in Oklahoma City when gas was $3.50 per gallon? When it only cost $8.50 to get in the theatre to watch a movie? I guess it's all in a person's perspective, isn't it?

So let me ask you this.......what's the most ridiculous?

1. Gas at $3.50 per gallon

2. Milk at $3.50 per gallon   or

3. Bread at $3.00 per loaf

My vote is for the bread at $3.00 although I bought a less expensivive loaf. By the way the first home I sold was in 1975 for $30,000 and that was pricey! I sold several in the $15,000 to $20,000 range.

Now it's official. Oklahoma City's NBA team is nicknamed the Thunder. I like it--for one thing it's unique among team nicknames. The only other team I know of that makes use of "thunder" in a nickname  happens to be connected to a school I attended, the Marshall University Thundering Herd" which I think is  one of the all-time great team names (except when your team stinks--when I was at Marshall we were known as the blundering herd and that was one of the nicer names we were called).

I'm still trying to figure out what a  Thunder mascot looks like but there are lots of great possibilities with this name---the team will play Thunderball in the Thunderdome and the fans will all be wearing their Thunderwear. Don't laugh, I've already seen their apparel referred to as that. Now the only problem with this is if the team isn't any good just substitute "blunder" for "thunder." Remember, I've already had practice doing that.

One thing y'all need to know--Oklahoma City is on a roll. The Thunder is our first major league sports team (OU is in Norman, not OKC--the players don't get paid but the team is definitely major league), the Bricktown entertainment district is going great, Devon Energy has announced plans to build OKC's largest building with construction set to start next year, the downtown area is thriving and new downtown housing is hot. Oklahoma City is also home not only to Devon, but Chesapeake Energy, Sand Ridge Energy, and Sonic Drive-ins are headquartered here as well. Our housing and job market is good--this is truly a great time for this city.

Thanks for letting me brag a bit and "Let the Thunder roll!"

Acouple of days ago in one of my posts, I lamented the fact that some people don't like us very well. In response to that, here are 10 reasons sellers should show us some us some love.

10.  You don't buy the sign, we provide it.

9.   We take the phone calls.

8.   We work with pre-qualified clients--sometimes we may already know of a buyer for your home.

7.   We help your buyers get their loan.

6.   We help bring the buyer and seller to a meeting of the minds.

5.   You get to do something fun while we hold your "open house."

4.   We know how to get your house on youtube and zillow (and a whole bunch more).

3.   We do the paperwork.

2.   It's true. Your house typically sells for more $ when we sell it.

1.   YOU ONLY PAY US IF WE SELL IT!

I'm sure there are a whole lot more--lets hear some of your ideas.

Mega Camp is over for another year and I have to say the tech session on Wednesday morning was the grand finale. As far as I'm concerned that in itself was worth the whole trip. One of the most interesting aspects was the panel discussion that included the advertising director from the NY Times, a VP from Realtor.com and the CEO/COO from Trulia and Wolfnet. At the end of the discussion each panelist was asked to give 1 major point that they wanted us to get. It was my perception (shared by others sitting near me) that the VP from Realtor.com was quite defensive when it was her turn. I don't know why that was as I didn't hear anything that would justify her attitude.

I was particularly interested in hearing about  the "long tail" and niche websites. I think I understand the concept but I'm not sure how to do it. It was a fascinating morning--I wouldn't mind sitting through that session again.

As you know by now, this was my first Mega Camp and I got a lot out of it. If you haven't been to Mega Camp, make sure it's on your list for next year. Austin is a great town--not a bad drive from Oklahoma City, everyone was very friendly, and it was fun seeing what the vendors were offering. I do wish there was a function (a nice dinner or reception) where everyone could just mingle and connect with agents from other cities and states. This format was not the best for that but even so, I still managed to exchange quite a few cards and on Wednesday, I was even able to meet fellow 'rainer Steve Shatsky from Dallas. Steve, it was great to finally meet you.

I hope all of you have a fun, relaxing, and safe Labor Day.

Day 2 was a short day for me as the Mega Agent Camp ended at noon and I didn't go to the Commercial presentation this afternoon. Today featured Mark Zupan (paralymics participant) and Grammy award winning guitar player Larry Carlton. Both of these guys experienced devastating injuries but came through it in a great way. Certainly makes me feel blessed with my situation.

Dianna Kokoszka led a session that dealt with call reluctance and there were panel discussions relating to dealing with FSBO's and expireds.

I personally have enjoyed seeing what the vendors are offering and of course, getting some freebies. Buyer Acquire, Fax by Mail, and Wise Agent are of great interest to me. If any of you have any comments, pro or con, I'd like to hear them.

I only wish there was a way for all the agents to interact together a little more-maybe some meals together or something like that but this has been a great experience and I look forward to next year. This also really makes me want to go to Famly Reunion, and Orlando in February? That's a no brainer.

Good morning. Well, this is the mornng of day 2, I was just too tired last night to put any coherent thoughts rogether. This is my first Mega Camp but certainly won't be my last. The topics have been timely, the panel discussions excellent, Gary's new book "Shift" is a must,

I'm meeting a lot of agents from other cities and states and everyone is super friendly. All the usual vendors are here and a lot of people are looking but I don't know how many are actually buying. Time to go soon, I will expand on a lot of this later.

Not a KW agent? You don't have to be to come to Mega Camp. More later--have a great day!