florida: "RAIN POWER!" It's AWESOME!!!!! - 09/18/09 01:18 AM
Okay, I've read the posts about the power of Active Rain and the google juice, well as they say a picture is worth a thousand words. So, if you've never done this before, Google yourself!
If you've been an active Active Rain blogger than you're going to loooooove the exposure that you and your business are receiving. If you haven't been then you are missing out;
BIG TIME!!!
If you haven't been than take this challenge.
START!
Write 3-5 thoughtful, insightful blogs each week for the next 3-4 weeks and then;
Google yourself!
If you're not smiling at the results I'll be … (79 comments)

florida: Beware! of TOXIC Behavior, It's Everywhere! - 09/17/09 02:31 AM
WARNING, WARNING!!!
TOXIC BEHAVIOR is hazardous to your Success!
Toxic behavior by definiton would be a behavior that was/is poisonous.
Boy, that doesn't sound good to me!
Where will you find this you may ask? so that you may avoid it.
Well first, you really need to check out the mirror and see if you find any in there. If you do I suggest a strong window/glass cleaner to see if you can clean it up. You need to do this right away, don't wait, this is important.
Next, spend some time listening to yourself during the day and evaluate what … (2 comments)

florida: A New Sales Technique: Try Answering Your Phone! - 09/15/09 01:18 AM
I've read a few blogs recently about returning phone calls. It made me think about the good olde days, you know, before voice mail.
Oh, how did we ever survive?
So what I'd like you to do right now is stop for a few minutes and think about how you feel when you're calling someone, it's an important phone call, there's 3 or 4 rings and then;
THE MESSAGE!
That's right, you never had a chance, right into voice mail.
Okay, how do you feel about that?
Is it safe to say that you wish a real live human being had … (12 comments)

florida: Another One of Those, Oh No, OH YES! - 09/10/09 02:18 AM
Every year just like clockwork here it comes. It's time for another birthday. For me it's also a time for reflection and I'd like to share a few thoughts.
On Friday I'll be 75, oops there's that dyslexia thing, I'll really only be 57. As you get older you're allowed to make more oops'.
I use to think, oh no! another birthday, but then about 2 years ago I went shopping at BJ's and decided to have a heart attack. Forty days, and 3 stents later, I was very happy to walk out and see the light of day. If you've lived through … (8 comments)

florida: Let's Hear it for Port Charlotte, FLA! - 09/09/09 05:34 AM
YEAAAAAAAAAAAAAAAA!!!!!
I hope God doesn't strike me down for using CNN as a source, but in my own defense, it does state that the article comes from the editors of Money Magazine, if that's any better. But so what about the source, this is extremely positive news about Southwest Florida, so I'm going with it.
Here it is, entitled;
25 Best Places To Retire
Thinking about your post-work home? You'll get huge bang for your buck-plus lots of other perks-in these towns.
So whose mentioned first in the article? A little hint-look up to the top of the page.
PORT CHARLOTTE, FLORIDA!!!!!
… (1 comments)

florida: Slowing Down the Mortgage Process - 09/09/09 12:39 AM
Okay, I've had enough, actually more than enough.
HVCC was tolerable, although ridiculous and unneeded. Let's make sure that we keep those low life loan officers and processors away from the appraisers so that they can do their job.
If this is such a vital requirement why is it not an FHA or a USDA/RD requirement.
It case it's not obvious these are both govern(mental) organizations.
Now, along comes  MDIA.  The Mortgage Disclosure Improvement Act.
Someone needs to show me what it IMPROVES!
Most of this act centers around the TIL, one of the worst and misunderstood documents in my … (6 comments)

florida: Change that 'TUDE - 09/07/09 02:24 AM
Some blogs are just fun! They generate constructive and intelligent comments, and they make us think. Also, I confess to being
"Mr. Positive"
at least most of the time.
Every now and then someone wants to point out
"the reality of the situation"
Pleeeeeeeeeeeeeeeeeeeease, no not that! You know it's going to be such a bummer.
Okay;
reality;  the quality or state of being actual or true, the state of the world as it really is, rather than as you might want it to be.
One of the definitions actually went on further to state as an example, "business men have … (6 comments)

florida: The Coulda, Shoulda Club of 2009! - 09/05/09 02:52 AM
You don't even need to sign up to be a member!
What a great deal! 
This is an incredible Club!
So how do I join? Just repeat after me.
I COULDA bought that property for $10,000 less back in January!
I SHOULDA made that offer instead of waiting!
Okay, you're in. It's just that easy.
Recently in Cape Coral Florida the local rag published some numbers stating that on the average prices had increased about 11% over the first six months.
Remember all the experts who stated that the bottom had hit over the last 2 years. Well here's … (48 comments)

florida: "What's the Rate?" - 08/26/09 03:53 AM
Why is this the first question that potential customers ask? Actually it's quite simple. In most cases they don't know what else to ask.
This use to be a fairly easy question to answer. I'd really only need some basic information such as primary residence or investment property, FHA or VA, etc. Well that's all changed.
In today's marketplace a wholesale or correspondent lender better be pretty sharp when trying to quote an accurate rate and actually it's nearly impossible with the initial phone call. If you are not a loan officer and/or haven't seen what the pricing sheet looks like … (2 comments)

florida: Freddie's Woe's Overstated! - 08/06/08 03:29 AM
Okay Freddie slashed it's dividend 80% or more.
GOOD MOVE!
They shouldn't be paying a dividend at this time. In the big picture the dividend cut is prudent behavior. The cut should produce an annual savings of $500 million.
Net interest income "soared," CNNMoney.com reported, to $1.5 billion from $793 million.
That's a good thing!
Here's a revelation for you, Freddie Mac is involved in the mortgage lending business and will continue to experience adjustments and losses due to foreclosures  at least for the foreseeable future. Isn't that an insightful piece of information.
BUT,
Freddie will not fail, won't happen, not now, … (6 comments)

florida: Does my Buyer still Qualify? - 06/12/08 03:17 AM
Opps, the loan officer didn't lock the rate and the rates increased, does my buyer still qualify?
Well maybe, but maybe not!
In todays world of restricted quidelines a buyer who has an approval at 6.5% may lose that approval if the rate increases to 6.75%. We may not like it, but
That's the fact Jack!
Sorry, I couldn't help myself I just had to say it.
Does that mean that marginal buyers, and those that might be, should lock their rates?
It might mean that if you'd like to be able to close the transaction. It's that old cliche, better safe than … (4 comments)

florida: Interest Rates, Pay Attention Now! - 06/12/08 02:56 AM
So, what's going on with rates? I checked the market first thing this morning and we were getting crushed.
Colin Barr, a senior writer for "Fortune," reports that the Fed has reversed its course. That fighting inflation is now its priority. That would mean that there will not be any further dereases, but rather potential increases. Personally I don't believe that there will be any Fed inspired rate increases in the near future, but that doesn't mean that the market, in general, may not push rates higher.
We need consistency from the Fed. Their loosey-goosey attitude toward rate decreases and throwing … (10 comments)

florida: Beware! when purchasing a Condo - 06/04/08 04:14 AM
Why? you may ask?
Well in Southwest Florida, where I live, there are a lot of condo's and a couple areas of concern. As a lender the first question that I ask a buyer or a Realtor, in regards to the condo, is what is the investor ratio. Lenders feel, and the numbers back us up, that condominium communities with high investor ratios, generally, are not as well maintained as those heavy in owner and second home occupants. Loans are either difficult or impossible to acquire in communities with high investor ratios. This brings up the following point.
When purchasing a Condo, not only … (8 comments)

florida: This MUST be a misprint! - 05/29/08 07:26 AM
I had to run and get my glasses to make sure the headline said, what I thought it said.
CNNMoney.com  5/29/08
"Economy grows faster than first believed"
The first quarter growth rate was adjusted up from .6% to .9%. Okay so you don't think that this is a big deal. Well consider this;
Since the economy grew at a rate of .6% in the fourth quarter of 2007, that would mean that the annual rate of growth actually increased in the first quarter of 2008. Not great numbers, but still an increase.
How about this;
"the National Bureau of Economic Research, which … (13 comments)

florida: How come they NEVER call ME! - 05/27/08 03:09 AM
I'm 55 years old and I have never received a single phone call from anyone doing a consumer confidence survey. It has to be because I'm an optimist.
That's a rule;
Those conducting the Consumer Confidence Survey are not allowed to call anyone recognized as an Optimist.
How could they know you may ask.
It's easy.
First they do a separate poll of households asking questions to determine if you are optimistic or pessimistic.. If it turns out that your optimistic, then you are deleted from the households which will be contacted in regards to the "confidence survey." Also when … (8 comments)

florida: NEWS FLORIDA! The Cape's Sizzling! - 05/24/08 01:01 AM
Just give it time and the market will cure itself.
Things are really COOKIN in Cape Coral.
The Bus Driver says, "the bottoms gone!" and many agree.
Rainer Scott Slocum, Florida Future Realty, tells me that lenders with foreclosures appear anxious to move those properties. That's a great sign.
His broker, Rainer Susan Milner, has put together a short sale system that's generated a plethora of contracts. Susan will make sure these transactions close, because that's what she does.
The GOOD STUFF!
more pendings
more closed transactions
lower inventory
affordable housing
the buyers are coming!   the buyers are coming!  the … (9 comments)

florida: Approvals, Tougher to get! - 05/13/08 12:26 AM
It's not just the more restrictive guidelienes, it's the excessive paperwork and the underwriting.
It use to be that you would get an AUS (automated underwriting system) approval upfront and away you'd go. You'd address the findings and the conditions, package the loan, and ship it off to the underwriter for validation.
Not so any longer!
The loans must now be investor quality. The chic new tern is "overlays." So to speak, they lay over the existing guidelines, with new can do's and don't's. Unfortunately they are often not known until your file hits an underwriter, who may override the … (12 comments)

florida: Foreclosure Benefits - 05/06/08 12:43 AM
From Websters;
benefit  anything contributing to improvement.
Once again this morning as I attempted to access some financial info, to see where interests are heading,one of my favorite sources CNNMoney.com leads with the following;
Bernanke: foreclosure woes require action, price declines have become one of the biggest contributors to high default rates
I agree to a certain extent, however the action that I would like to see would be that;
1. banks/lenders would respond in a timely fashion to offers to purchase these properties, and without adding extensive 3, 4, and 5 page addendums which often seem to be unnecessary.
2. attorneys and title companies representing these banks/lenders … (4 comments)

florida: What's Happening in Southwest Florida - 05/03/08 12:15 PM
I can't ever remember being in a market that has the characteristics that exist currently in southwest Florida. There are some things going on here that make it so, if you're not physically here you cannot truly understand our market.
In order to truly understand the market here you have to be living and breathing it!
We've got lots of activity and have learned to understand what it is that we are experiencing. Here it is as I see it;
Foreclosures:
Foreclosed properties are generating quite a bit of activity and sales. They are in fact guaranteed sales as the banks/investors must liquidate the properties. … (8 comments)

florida: You Just CAN'T Have It Both Ways! - 04/29/08 09:40 AM
For months I've been watching the national media bash lenders and brokers for their irresponsible behavior in offering "subprime" and "exotic" mortgages. The articles would go on about how the innocent borrowers were totally taken advantage of by the unscrupulous mortgage lenders, and their compatriots the mortgage brokers.
All this time, however, the media outlets continued to run the ads for these products, and accept the revenue generated by these ads. I'm talking about advertising which runs side by side with the articles criticizing the lenders for their behavior.
Yes, advertising for the so called "exotic" mortgages continues to run on the pages … (5 comments)

 


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