st louis real estate thoughts: The Silver Lining To The St. Louis Real Estate Market - 06/16/08 04:26 AM
A few weeks ago I got a call from some friends of a friend who wanted to buy an investment property for their daughter to live in.  When they said that they didn't want to spend more than $65,000 AND that they wanted to home to be in one of several different areas where homes usually go for much more, I didn't hold out much hope.
But, being the dutiful Realtor that I am, I did a search and I was surprised to find that there were indeed several houses that were available in these areas for less than $65,000.  When … (2 comments)

st louis real estate thoughts: Back In The Saddle Again - Getting Back On The Bike After An Injury - 06/09/08 07:22 AM
Last fall I decided that I wanted to get back into riding bicycles.  Specifically, I wanted to start riding "off-road" trails, so I did some research and bought myself a new mountain bike. 
As any of your know who have bought a new bicycle, this can be a very joyful experience.  The fact that I bought my bicycle on-line and had to wait for it to be delivered made me think of being a kid and waiting for Christmas as it approached!  To say that I was psyched would have been an understatement!
Then disaster hit!  The evening before my bike … (14 comments)

st louis real estate thoughts: Experience....You Don't Need No Stinking Experience! - 05/28/08 04:05 AM
It's a paradox when you're a new agent; How can you get experience, if nobody will work with you because you don't have any experience!"
What got me thinking about this was a post by LaNita Cates titled, "But Weren't You A New Agent Once Too?" where she broached the subject of agents telling the public that they should only consider agents who have done XX number of transaction.  In her post she points out that it's probably only agents who have at least that number of transactions who are marketing this way. I'm sure that she's right on that one! 
(4 comments)

st louis real estate thoughts: Experience....You Don't Need No Stinking Experience! - 05/28/08 04:03 AM
It's a paradox when you're a new agent; How can you get experience, if nobody will work with you because you don't have any experience!"
What got me thinking about this was a post by LaNita Cates titled, "But Weren't You A New Agent Once Too?" where she broached the subject of agents telling the public that they should only consider agents who have done XX number of transaction.  In her post she points out that it's probably only agents who have at least that number of transactions who are marketing this way. I'm sure that she's right on that one! 
(4 comments)

st louis real estate thoughts: Please Stop Whining About Lead Generation Companies "Stealing" Your Clients! - 05/22/08 06:49 AM
As I've written about before, a long time ago I went through a "blue-funk".  I had just broken up with a woman that I had been dating, but I was the dumper, not the dumpee....So, I didn't think that was really the problem.
At the time, I was just getting my mortgage banking career going and while it was a difficult market, I was actually doing pretty good in it, all things considered....so, again, I don't think that was the problem.
It other words, there really wasn't anything to whine about, yet here I was whining.  I was able to keep … (13 comments)

st louis real estate thoughts: With Business Being Slow, Why Isn't My Office Clean? - 05/21/08 03:50 AM
True, I'm working on things that will bring more business in and that takes time, but the fact remains that I'm on pace to do many fewer transactions this year than I have in years past.  Part of it might be that I'm spending more time fighting with underwriters on the transactions that I do have, but even that doesn't account for the fact that my office is a pit!
I need to clean it up.  Looking up at my "deal board" I should have all the time in the world, but I don't.  As mentioned above, some of that time … (10 comments)

st louis real estate thoughts: Why I Don't Have A Problem With Credit Repair Companies - 05/19/08 09:21 AM
I'll fess up, I have never sent a client to a credit repair company, but over the years I have worked with dozens, maybe hundreds of clients who I've helped to "repair" their credit.  This experience is the reason that I don't have a problem with credit repair companies.
Recently I've read a couple of posts here on AR that basically called all credit repair companies scam artists and while I admittedly don't have a bunch of experience with any of these companies, I personally think that the credit reporting system in the US is pretty close to a scam in … (13 comments)

st louis real estate thoughts: Do Mortgage Banker/Brokers Deserve To Feel Guilty? - 05/16/08 07:56 AM
Warning!:  This post is not going to be politically correct!
I don't believe in "White Guilt". I don't believe in "Mortgage Bankers/Brokers Guilt" either. 
The reason that I don't believe in "White Guilt" is because, as I've written about before, I believe that it's based upon the unfounded notion that ALL White people benefited from the bad behavior of the white people who pretty much ran the world for the past 400 years until present day. 
I can testify to this fact personally.  Being of Irish and Polish decent with my Irish ancestors having made their way to Missouri after having … (10 comments)

st louis real estate thoughts: Everyone Deserves To Be Treated Like A Big Fish! - 05/15/08 10:56 AM
Until a couple of years ago, my largest loan to date was a direct referral from the second smallest loan that I had ever done.  The small loan was an older guy who was buying a small home to live in after his wife had passed away.  He wanted to be close to his kids and his kids lived in a lesser expensive part of town.  After his down payment, he only needed $24,000 to complete his purchase.
The funny thing about that loan was that it was a referral from another loan officer in my office that had a "minimum" … (7 comments)

st louis real estate thoughts: Stephanie, I'm truly sorry! Take me back! - 05/14/08 05:29 AM
As many of us in the business, I have a "favorite" service provider with just about all of the various services that are ancillary to the real estate world.  I have "My" guy who does my home inspections and "my" appraiser, etc.  When it comes to title services, I have Stephanie Forsythe with Commonwealth/Land America Title here in St. Louis.
Stephanie has been my title lady for a number of years now.  When Capital Title crashed and burned, she moved across the parking lot to Commonwealth and I followed her.  Over the years I don't know that I could have asked … (5 comments)

st louis real estate thoughts: God Talks To ATT - 05/12/08 10:12 AM
Ring.....ring......(a computer answers the phone)
ATT Computer:  Hello.  You have reached the ATT customer service line.  Please say or enter your ten digit phone number so that we may be able to access your account.
God:  (plugs his number in)
ATT Computer:  Thank you, so that I may better assist you please select the option that best suits your needs.  Press 1 if you would like to find out about ATT money saving offers, press 2 if you would like to find out more about ATT internet solutions, press 3 if you've received......press 27 for technical assistance.
God:  presses 27
ATT … (4 comments)

st louis real estate thoughts: The Monk And The Tigers - Being Responsible For Your Own Happiness - 05/02/08 08:30 AM
If you haven't stumbled across Kevin Bungert and his blog yet, please take a moment to check him out.  He's been writing a series of posts on his coaching and life philosophies that I have throughly enjoyed.  He really seems to have a grasp on what it takes to not only be a successful real estate person, but a successful person, period!
The other day he wrote a post called, "The Most Important Thing In Life Is Your Health" which makes a compelling argument that no matter what your other gifts are, that taking care of your body is the single most … (7 comments)

st louis real estate thoughts: 3514 Connecticut - Great As Is, Super If Converted To A Single Family - 05/01/08 09:41 AM
I recently listed a two family at 3514 Connecticut  that is a great property!  As it is, it is a working 2 family with a 1400 sq. ft 2 bedroom lower unit and a 1400 square foot 3 bedroom upper unit.  The lower unit, which needs some sprucing up (paint and some updating) is rented to long term tenants and the upper unit is vacant.
With both units rented, this building can generate over $1500 a month in rents or it would be a great home for somebody who wanted to owner-occupy one of the units and rent the other.
To me though, … (2 comments)

st louis real estate thoughts: Why Are You In This Business? - 05/01/08 04:16 AM
Let me ask you a question....Why are you selling real estate (or mortgages or staging or title work or one of the other ancillary services connected with real estate)?  If you've been doing it for a while, has your motivation changed?
The reason that I'm asking this question is that yesterday I posted a blog on the importance of pacing yourself if you expect to last in one of these businesses and I got a very interesting comment by a guy named Paul McFadden.  In his comment Paul mentioned that as we get older we recognize the importance of pacing ourselves and … (12 comments)

st louis real estate thoughts: Call Me Crazy, But I Think That The Little Guy Should Be Able To Buy A Home!~ - 04/30/08 08:03 AM
I don't get it.  Prior to the credit and housing crises', when the economy was starting to slide due to the economic policies of the Bush Administration, the stock market kept bouncing along.  When pressed as to how this could be all of the talking heads on the business channels attributed it to the strength in the housing markets.
Then it became common knowledge that the big Wall Street banks and investment houses were playing fast and loose with a bunch of new investment programs that, at least on the surface, appeared to turn garbage into gold.  We had Standard and Poors … (4 comments)

st louis real estate thoughts: Selling Real Estate In The Long Run - The Importance of Pacing Yourself - 04/29/08 08:04 AM
As often times happens here on AR, I read a post and it has inspired me to write a post on that or a similar subject.  This is the case here.  I read a post this morning by Jennifer Allan about a potential buyer calling her on a Sunday mourning to show them property. 
While I subscribe to her blog and like a lot of what she has to say about selling real estate, I'm already on record (Does An Agent Have A Right To A Personal Life) as having said that I think that one of the biggest problems with … (15 comments)

st louis real estate thoughts: Alway Remember To Protect Yourself At All Times! - Competition In The Real Estate Business - 04/23/08 02:48 AM
I just read a post by Midori Miller on looking at other Realtors as "competition" and while I generally enjoy Midori's blog, I have to say that I disagree with her on this one!
While her points on how being cooperative during a transaction are valid, I liken it more to what goes on in a prize fight with the referee is giving the boxers their final instructions.  Generally, the ref says something like,
"I want a good clean fight.  When I tell you to break, break cleanly!  But always remember to protect yourself at all times!" 
The facts of the matter are … (4 comments)

st louis real estate thoughts: Getting Old While Being Self Employed - The Need For Health Insurance - 04/22/08 06:28 AM
Getting old is a bitch!  While I work at staying in shape by lifting weights, working out on my elliptical or riding the recumbent bike, I found out a few weeks ago that it's not possible to forestall the ravages of time completely.
What happened to teach me this lesson was I went to walk down the stairs to my basement.  At the head of the stairs there was a small nail head that had popped out of the hard wood floor.  I caught my sock on it and started to lose my balance.  As anyone would do, I raised my arm … (9 comments)

st louis real estate thoughts: Pep In My Step and Glide In My Stride! - Thriving In A Down Real Estate Market - 04/14/08 04:45 AM
I just looked at my last two blog entries and noticed that they had something in common.  They were both about something positive.  The first one, "Activerain and Search Engine Optimization" and the most recent one, "Good To Be Back In The Saddle Again" both referenced the fact that my business seems to be in the process of turning a corner.
Well, last night I did my taxes and I was surprised to find out that I had actually made more money than I thought that I had.  Not that I had set the world on fire, but I was more in … (10 comments)

st louis real estate thoughts: Good To Be Back In The Saddle Again! - 04/12/08 02:44 AM
As I have written about before, my business was one of the first victims of the credit and real estate crises.  Basically, I couldn't have timed a merger worse if I had tried.  By taking over my largest competitor I ended up expanding into a declining market.  A rapidly declining market!
I was forced to make some drastic moves.  I shut two offices down and laid several people off.  I don't know if any of you have ever been in this position before, but it sucked!  I felt so bad for the people and my ego took a hell of a blow!
For … (7 comments)

 
R. B. "Bob"   Mitchell - Loan Officer Raleigh/Durham, Bob Mitchell (NMLS#1046286) (Bank of England (NMLS#418481))

R. B. "Bob" Mitchell - Loan Officer Raleigh/Durham

Bob Mitchell (NMLS#1046286)

Raleigh, NC

More about me…

Bank of England (NMLS#418481)

Address: 4004 Barrett Drive, Suite 201, Raleigh, NC, 27609

Office: (919) 876-8400

Mobile: (919) 289-9611

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A Blog about real estate and real estate finance by Bob Mitchell who has been in the business since 1984 and who comes at the business from a different angle.


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