2007-10-04 00:15:50 -
( EMAILWIRE.COM, October 03, 2007 ) SCOTTSDALE, Ariz. - This week, the National Association of Home Builders/Wells Fargo index of builder confidence plunged to 20, the lowest it's been since January, 1991. Foreclosures are up. Confidence is down. Buyers are waiting to buy and builders are postponing construction. The National Association of Realtors last week predicted the
housing slump would last until 2008, while Moody's Investors Service said the slump might continue into 2009.
Hardly a good time to get a new
mortgage company off the ground, right? Not so, says Phillip Lechter of Community First Financial.
'While it may seem counterintuitive, it's actually a smart move to get into an industry when others are getting out,- said Lechter.
Despite the seemingly dismal market conditions, Lechter is enthusiastic about the prospects of his mortgage company. Prior to starting his new venture with partner Troy Schuricht in June 2007, Lechter served as Chief Communications Officer of the Rich Dad Company. Now, he's applying the principles he once preached at Rich Dad to propel the success his own company.
'What will really place a business above the competition is its value proposition,- said Lechter. 'It needs to be there. I am amazed at how many companies are discounting their services in a desperate attempt to attract business. If there ever was a time to ‘value up' and not ‘discount down', this is it.-
Community First Financial sees opportunity to survive and thrive in the current market by differentiating their services through financial education.
'Those who are looking to buy will be wary of locking a
loan that will get them into future financial trouble, as has been the case with so many homebuyers over the last few years,- said Lechter. 'We are committed to building relationships, offering the appropriate financial education and providing
investment opportunities for our customers to use what they've learned and make the right
investments for the long term.-
Community First Financial has a comprehensive approach to offering financial education to both current and potential customers. First, partners Phillip Lechter and Troy Schuricht provide ongoing financial education through their blogs at
http://www.philliplechter.com/ and
yourlendertroy.blogspot.com. They are also developing tailored Home buying Tool Kits for teachers, emergency responders and health services employees - all groups who are having a particularly difficult time getting into a home in today's market. Additionally, the company has begun a monthly book review to help educate the public on real estate opportunities and pitfalls.
Community First Financial's next book review will be held Thursday October 18th from 11:30AM - 1:00PM at the company's offices at 7575 E. Redfield Rd, Suite 235, Scottsdale, AZ 85260. Space is limited, so seats should be reserved by calling 480-305-8900 or sending an e-mail to
info@communityfirstfinancial.com. There is no charge for attendees. The book that will be covered at the October 18th meeting is Rich Dad's Real Estate Advantages: Tax and Legal Secrets of Successful Real Estate Investors by Sharon Lechter and Garrett Sutton.
For more information please visit
http://www.communityfirstfinancial.com/.
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