Time to Re-Define.......
Wow....what a crazy market we are in. Of course, the refi market has dried up.... That was as predictable as the sun rising, and the purchase market is frustrating. Time to try and calm down and refocus.....
Time to Re-Define.......
For the lenders that only were order takers, and lived on Refinances, the volume has all be dried up. Those that needed to refinance in the last 3 years have accomplished that, and now have an amazing rate. So that begs the question........What do they do? if they have recovered all of the cost of a refinance and have been benefiting from such a low rate, do they dare move? The 
children have graduated from high school, gone to college, and the house is now to big. What is going through their head?? I am sure a lot of confusion. This ideally would be a good time to either find a home that fits their new lifestyle or need or maybe change locations. But here is the conundrum....(maybe that is not the right word choice since a conundrum has no resolution) here in Colorado, as in so many other places, our inventory is tight. Any decent house that hits the MLS or IRES has multiple offers in hours, and many are cash. So if potential sellers list their home, and get an offer quick, will they be able to find a new place to buy?
Time to Re-Define........
Now that rates are starting to rise, as expected, their buying power is starting to reduce. Not just because of the higher rates, but the value of home are again on the rise. That is a good thing! But for those buyers that feel they need to wait, what will that look like for them? if rates move up say .25 bps, maybe the house they really 
liked at $275,000, now they can't qualify for. They can only qualify for $230,000. Partially because of the QM (Qualified Mortgage) and ATR (Ability to Repay), maybe they had a job change and now get a little bit less money or maybe they acquired some new debt, that has increased their Debt-to-Income. All kinds of factors. So what do we do to help our clients navigate through this extremely choppy water?
Time to Re-Define........
We have to Re-Define what we do, how we do it and in today's world, the speed at which we do it. Buyers want to be in the loop at light speed. They expect us to be at their beck and call. Our 
cell phones almost glued to our hip. I get it. We need to step out of our comfort zone, and be more tech accessible. Websites, apps, posts, tweets, continual education, information and anything that can keep us in front of our clients. And to give them something that is dynamic, unique and all yours. What are you doing to create you "USP". I know of a lot of potential clients that do "EVERYTHING" on their smart phone. So, I created my own app. I wanted to find a niche, and create something that is intriguing, dynamic and unique. They can access an online application, directions to my office on google maps, ability to call me on my cell from the app, and soon, the MLS and IRES listings. It is everything in one spot. Will it be the end all, be all? No, but trying to step out, and create a USP. What are you doing to set yourself apart from the dwindling pack?
Time to Re-Define........
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