DETROIT, MI - Spring's in full bloom and summer's around the corner.  Now if only the economy would heat up again. 

Nice weather does seem to be having a positive affect on all of us. 

The economy appears to have slowed its pace of contraction and I'm observing a lot of signals that people are coping better with less.  Our shop ‘til you drop days may be gone, but people are spending more time with family and friends - which are way more important anyways.

For those of you concerned about our car companies - don't think that if they end, Michigan is done.  Before the automobile, Michigan was known for making wagons.  IF the car companies fail, we'll replace them with something better.  It could be electric car companies, renewable energy or something students at one of our great universities are just starting to dream up.  Change can bring pain, but it can also bring wonderful new ideas.  A good friend of mine (and a great business coach), Barry Demp is fond of saying, "when old patterns are broken, new worlds will emerge."  I think that's a positive thought we all need to keep in mind in these times.

A little bit about mortgages - if you're rate is over 6%, we should talk.  Same goes if you're having problems making your house payments or in danger of losing your home.  I've tried to write about all the options homeowners have as they become available, but you have to contact me to take advantage of them.

There are also some challenges in the mortgage industry to keep in mind: 

•1.                  Turn times for mortgages are at 45 days and getting longer.  Underwriting is the biggest holdup, as many homeowners refinance and first-time home buyers take advantage of low home prices not seen in over 10 years.  I had a conversation the other day with a client who asked why the banks just don't hire more underwriters.  Well, it's not a position that you throw just anyone into and it can take 90 days or more to train someone.  They also can't just go and hire all those they laid off over the past 2 years.  Most of those workers have found jobs in other industries and won't come back to a job that's only going to last another 6 months or so.

•2.                  Appraisals are going up in cost and unpredictability.  This is due to the Home Value Code of Conduct (HVCC) that was implemented in the industry May 1^st.  Appraisals must now be ordered through an Appraisal Management Company which has to assign them at random to an appraiser.  I spoke with a financial planner this week, who is trying to refinance his home in Livonia.  The appraiser assigned to appraise his house came from the Grand Rapids area.  No surprise that the appraiser used foreclosed properties for comparables and came up with a value significantly below local real estate agent estimates.  HVCC was implemented to stop inflated appraisals, but like most things the government gets involved in, it's way too late and way overkill.

In speaking with many of you that get this e-newsletter, I've been surprised by the level of interest regarding what I'm involved with.  I'm very fortunate to have been asked to get involved and/or join several wonderful organizations.  I've also started to do a lot more speaking engagements on the topic of the Housing Crisis, Homeowner Options to Save their Homes, and Social Media.  Here's a sample of some notable events from my schedule: 

•§         March 10 - gave a tour of Detroit area investment properties to Adam Rowe, a writer for a New York private investor newsletter.

•§         March 12 - did a webinar on Social Media for the National Association of Mortgage Brokers.

•§         March 17 - trained a business coach on using LinkedIn

•§         April 2 - voted onto board of the Real Estate Investors Association of Oakland (county).

•§         April 9 - 7:30am hosted Motor City Connect Breakfast meeting.  11:30am hosted Top Producer Realtor luncheon.  6:30pm attended REIA Oakland monthly meeting.

•§         April 14 - 11:30am held luncheon for Motor City Mortgage Masters.  7pm went to a tweetup at Goldfish Tea in Royal Oak

•§         April 15 - mastermind meeting for Great Ideas Group (GIG)

•§         April 16 - Troy Chamber Social Media Workshop at ITT for 52 with Ted Canaday.

•§         April 17 - morning Board meeting for Mariners Inn, lunch after with Gary Brown

•§         April 18 - mastermind meeting for a Detroit real estate investment group

•§         April 22 - held annual meeting for our neighborhood association (I'm currently President)

•§         April 23 - hosted Local Business Network event for Real Estate sector

•§         April 28 - webinar for Michigan Association of CPA's on housing crisis and options to save clients' homes

•§         April 29 - 10am presentation for a group of the unemployed on options to save their homes at DBM in Troy.  11:30am to 6pm assisted with the Birmingham-Bloomfield Chamber's Regional Economic & Community Development Forecast (I'm on the committee)

•§         May 2 - co-hosted a Mariners Inn event at a Detroit Tigers game

•§         May 5 - co-hosted a workshop for the Financial Planners Association of Michigan

•§         May 5 - co-hosted the monthly meeting for Renegade Detroit Real Estate Investors

•§         May 6 - Presentation at a financial planner's office on options to save clients' homes

•§         May 19 - Social Media workshop for MetLife in their Troy office.

•§         May 21 - Social Media presentation for North Oakland County Board of Realtors.

As you can see, I'm involved in a few thingsJ

If you'd like more information on any of the organizations, click on the appropriate hyperlink or contact me.  Most of them are always looking for additional help.

I'm currently looking for summer interns to assist me with several business ideas related to the organizations above.  The ideal candidate would be very internet savvy and be looking more to fill out their resume than big money.  Several of the ideas involve nonprofits and they can't pay much.  If you know anyone that would be interested please let me know.  Actually, if you're laid off, a bit bored and want to volunteer your time, I can probably connect you with one of the nonprofits.  It's a great way to network for a new job.