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Observations From the Field!

Written by Posted On Monday, 08 August 2022 00:00

Purchase applications picked up last week and we are seeing many people coming back into the market as preapprovals remain about the same as we saw this time last year. The largest number of returnees are those that were working with FHA, VA, USDA, and bond program loans, as they are seeing sellers becoming more open to accepting offers from these qualified buyers! I can’t stress enough the benefits of staying connected to your preapprovals, even the people who choose to stop looking because they grew tired of the hunt.

The first week of August begins the next seven weeks of “back to school” around the country for my clients. It becomes a critical time to understand your specific market because many of the national numbers will not be reflective of local realities. Often, the weekend prior and the weekend after school starts, we see a slight slowdown in activity as parents are dealing with getting school underway with the kids. While this had little impact on those without school age children and may even provide an opportunity by not having to compete with those parents when making an offer on a selected property. Keep that in mind when speaking to your pre-approvals and their agents!

Last but not least, the July jobs report on Friday could certainly be a market mover, so pay attention to the report at 8:30 eastern time Friday morning and be aware of the potential ramifications of the news. As I have said all along, “if you like it, LOCK IT!” If the PAYMENTS work to get your deal done, is it worth risking LOSING your home if the market goes against you? If rates go down, you can always refinance in the future, if rates go up; you may NEVER again qualify for the loan you need for the house you love! 

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Michael White

After 18 years working in all phases of mortgage originations, Mike left day to day originations to start his consulting and coaching company. Now, more than 18+ years later, Mike is working with clients across the country in all markets, big and small, that have generated more than three billion dollars in loan originations within a year.

Mike teaches a system that is focused on time management, action planning, marketing a message, and creating value for both clients and referral sources alike. Quite simply, providing more value leads to more opportunities, more income, less time, and a systematic approach that begs to be duplicated.


By breaking down individual aspects of the mortgage business and providing a step by step approach to creating a consistent flow of opportunities that can lead to a highly successful mortgage practice. That is why people who incorporate these strategies out produce the national averages by almost 3 to 1!

Fundamentals and simple strategies provide day to day activities that help provide a “scheduled success” philosophy. It’s all about identifying, targeting, and establishing profitable referral relationships using exceptional value to keep you in the center of your own referral triangle.

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