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Posted On Wednesday, 19 May 2021 00:00 Written by
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“I don’t regret the things I’ve done. I regret the things I didn’t do when I had the chance.”

We have seen lots of moving and shaking going on this week in the home financing market.  The inflation data ran hot, sending the 10-year bond yield into a spike.  When the bond yields spike, it typically bumps up the price of mortgage rates. Rates were up about an eighth of a point.   This Richter scale blip could spell higher bumps in the mortgage rates later.  When the financial markets move around, you may want to put yourself in a solid place. 

Several mortgage clients put themselves in a stable place and are enjoying some bragging rights right now.  The Smiths refinanced and lowered their interest rate and freed up a few hundred dollars per month by lowering their mortgage payment.  They plan to take part of the extra money and pay off debt. The other part of their savings is to take some memorable vacations. 

The Millers have ratcheted down their mortgage rate and eliminated ten years off their mortgage term. Now they can retire without being tied down to a mortgage payment. 

I have celebrated with the Garcia’s who took this opportunity to refinance, pull cash out to upgrade, or modify their home.  John and Jane Doe bought an additional house.    

The Johnsons bought their first home and locked in a fixed-rate mortgage in the high 2’s that will help them build wealth and keep their budget on track.  They don’t have to worry about the landlord raising their rent every year. 

The opportunity is there now but will be gone one day, and we don’t know when.   Do something today, and don’t regret missing the opportunity. 

Home prices are steadily rising. The National Association of Realtors announced that the median home price rose 16.2% year-over-year to $319,200. That means the houses selling in the neighborhood where you want to live selling at $200,000 last year are now selling for about $232,000.  That is a $32,000 difference over 12 months or a $2666 per month increase. 

The Millennial generation leads the home buying market, with Generation Z making their entrance into the real estate market.  Demand is predicted to remain strong for home buyers.  The lack of homes available to buy is currently continuing to push prices up.

As mortgage professionals, we can win trust and appreciation from our mortgage clients when we listen carefully to what the customer wants to accomplish from the new mortgage. Ask good questions like, “What do you want to accomplish with this mortgage?” “What is the maximum house payment that is personally comfortable for you?”   Asking open-ended customer questions like these can move you to the customer’s side of the table. You will be in a better position to help them choose the very best mortgage terms to meet their goals. 

Posted On Monday, 17 May 2021 00:00 Written by

While some are struggling to get deals to go together, those focusing on what it takes to win the deal keep on winning. As I spoke to the issues in the past about “winning vs. whining”, you can make a choice every day about your approach to the market in which you work. You can whine about the issues and the challenges, or you can identify the solutions and the strategies necessary to help your clients win!

Record numbers of homes being sold tell us that there is an opportunity. Greater numbers of buyers wanting these homes creates the challenge of how to navigate the market to put your client in the best position to win. However, the plan is not a one and done solution or strategy that will make it all come together for you, it takes a series of strategies to optimize results and secure the win. Remember, more than one strategy at a time to make the win a reality, and the process of winning incorporates the possibilities that there are losses along the way. The good news is; your client only needs to win once!

A few things to keep in mind are:

1. Get your client in the best possible position to buy.
2. Give them a buyer improvement plan to follow each week so they become stronger and more flexible in their options.
3. Set the stage by setting expectations about their specific market.
4. Use all the tools available to be sure your clients and referral partners can make their best offer possible and be sure to include the power of speed to the closing table.
5. Be sure you, the client, and your referral partners are on the same page and working toward the same solution! 

As originators you need to use your experience about what people are doing to win their offers and help your current clients benefit from your experience. Yes, it is a challenging market, but it also a market ripe with opportunities. Use your winning strategies to keep on winning!

Questions or comments: This email address is being protected from spambots. You need JavaScript enabled to view it.

Posted On Monday, 17 May 2021 00:00 Written by
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 Gary BurrusGary Burrus has 27 years of experience in the gaming and hospitality industry. His experience spans property level, regional, and national operations. Specifically within the industry Gary has senior level experience in the areas of Customer Service, Resort Operations, multiple Hotel Operations (1,000+ rooms), RV park operations, Golf Course, Shooting Facilities, Entertainment and Recreation facilities, Convention Center, Retail Store Operations, Human Resource Management (benefits administration, compensation, 401(k) Administration, recruiting, employee engagement, training, union negotiations, employee wellness), Risk Management, Compliance, Government Relations, Community Relations, Security Operations, Transportation and Valet Operations, and interim General Management.

Posted On Tuesday, 11 May 2021 00:00 Written by
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