Today's Headlines - Realty Times
Posted On Sunday, 24 October 2021 05:58 Written by
Posted On Monday, 25 October 2021 00:00 Written by

Buying a home is one of the largest investments someone will make in a lifetime.  Getting a mortgage is one of the biggest loans in the budget.   Take a little time to save yourself a lot of money.  Team up with the experts and use their experience to save yourself from a bad experience. 

Taking a few extra minutes to prepare can give you big bragging rights on your real estate deal for years to come.

Here are some things to do as you set out to buy your home or get your mortgage.

Determine your budget.  Set a timer for two to three hours, turn on your favorite tunes and start slogging through your last six months bank statements and credit card statements.  Keep a tally of how much you are spending on food, rent, utilities, gas, insurance and more. Remember those bills you only pay once or twice a year like your car tags and insurance.   By the end of those two or three hours, you will know a lot better where you can save some bucks and how much you can comfortably afford for a house note.   Remember you need to have an ample amount in savings for emergencies.    How much money can you comfortably put down at closing and still keep your “rainy day” fund?

Are you planning to change jobs soon? Are you switching from a guaranteed W2 income to be a subcontractor or will you be retiring soon?  In most cases, the mortgage company will not use your self-employment income or 1099 subcontractor income unless they can average the net income from these income sources over the last two years. If you are planning to retire, make sure that the house payment that you determined would be comfortable will work on your retirement income. Make sure your timing on a job change or major purchase does not occur during the loan process.  

Putting together your team of experts

Take the time necessary to find a reputable lender that shows the most interest in helping you get the best mortgage terms to fit your plans.   A good lender will ask you questions about how long you plan to stay in the home you want to buy.   A good lender will explore different loan programs or a combination of loan programs that will help you get the house and financing you want, but stay in your comfort zone.  Ask the lender for a strong prequalification letter for the terms you need when you make an offer on a house. 

Find a reputable real estate agent.  Check reviews to track down an experienced realtor who is getting results for his or her clients. Hand to your realtor a list of features and amenities in order of priority that you absolutely require from a home you plan to purchase.   Make a list of things you do not want in your home.  These list can save you and your realtor time when you are searching for the right home. 

Once you have the contract on your home, you may opt to get a home inspection.  Home inspectors put their focus on the condition of the property.  If there is a looming problem with the roof or the foundation, it is better to know up front before you sign on the dotted line to purchase that home. 

If you are getting a mortgage, the lender will order the appraisal through a third-party appraisal ordering company. The appraiser, unlike the inspector, is there to determine a value of the home.  If there are obvious items at the house that affect the structure, security or sanitation of the home, an appraiser will note these items on the appraisal report.  Most lenders require that those type items be repaired before closing.   You may find some workarounds with the lender if you can’t do the repairs before closing.  

Other good team members to advise you on your homebuying journey are homeowners insurance agencies, home repair men, and a good closing attorney or title company. 

Finding the home that will be your castle

Look for homes that are priced to stay within your comfort zone on the monthly payment and the down payment. 

Are the homes in the neighborhood well maintained?

Drive through the neighborhood at different times of the day to get an idea of how much traffic comes through the area.

Will the home, the lawn and the parking work for the way you and your family like to live in a home?

Is the house close to places of interest to you like schools, shopping centers, work and public transportation?

Make a Plan B for your closing date

If you have a house you need to sell first before you can buy your new home, then put together a contingency plan to give you options, just in case both closings don’t close on the same day .

Check your calendar to make sure you have plenty of time to close on your new home, even if the seller can’t close on the day you had planned to close.

Posted On Monday, 25 October 2021 00:00 Written by

We have all heard the theme song to the TV show COPS. See, the song already started playing in your head! Now just make a quick substitution: 

LOs, LOs; whatcha gonna do? Whatcha gonna do now that your rates ain’t TWO?

Inflation continues to push prices higher. Bond yields are responding for fear of that inflation. Ten Year T pushed past a critical 1.63 level and has closed above it. So 30yr mortgage rates have left the 2% level smack into the mid 3% arena causing refinances to fall off.

Loan officers, managers, and company ownership are all facing the facts that refinances are going away rapidly, and what was once the major force in originations is now off by 22% year over year as rates continue to rise. If your business was 50% - 60% - 70% or more refinances; whatcha gonna do for business in 2022?

There are some promising strategies that my clients and I have been working on to maintain loan volume by focusing on positive outcomes that are really paying off. As part of October being Business Planning Month, driving to provide value to our community and attracting the best referral partners from all walks of life, and especially building a database that returns opportunities day in and day out!

The more challenging the business may become; the greater the value in having a proven plan in place so your can schedule your success!

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

Posted On Monday, 25 October 2021 00:00 Written by
Posted On Saturday, 23 October 2021 05:56 Written by
Posted On Thursday, 21 October 2021 08:30 Written by
Effective today, I’ve decided to periodically feature interviews of experts who offer good ideas for you to sell and manage with greater efficiency. As we study and embrace new ideas, they will often impact our Belief System, which in turn will bring growth and create new behaviors for ourselves. These new behaviors will enable us to internalize new habits which will have a positive influence on our results.
Our interview today features a man with some dynamic new ideas that will stimulate your thinking about selling and managing others better. His name is Ron Karr, and I have known him for several years. He is a successful speaker and trainer as well as a best-selling author. He is also a past president of the National Speakers Association. Ron is the author of the new book, The Velocity Mindset, which is a great read about how to enjoy greater success through improved, velocity-creating skills.
I’ve been on Ron’s email list for a good while and I always benefit from it. His latest covered The Five Reasons Why People Quit Their Jobs, which I found very interesting, so I wanted to share that information with you before the actual interview…

1. The employee feels he/she is not appreciated.

2. The employee feels he/she could get a job elsewhere with less stress and fewer demands.

3. They seek a job that offers more satisfaction and opportunity.

4. They don’t feel they have a good career path with their present company.

5. It’s not a happy occasion when they go to work – not enjoyable to work there.

So with the above information how can we lead and manage people more effectively, and enjoy performing with greater velocity? This interview will answer a number of your questions and give you good content for management excellence. Just click the red-button below to view the video of my interview with Ron Karr (11 minutes, 18 seconds).
Posted On Friday, 22 October 2021 00:00 Written by

Perhaps you have noticed lately, as have I, that at times when a defensive player intercepts a pass, most of the defensive unit on the field gathers together and runs to the end zone for a “photo op.”  Some have defined this as that defensive unit taking great pride in that interception. A fan wrote me recently deriding that this maneuver was just showmanship and unnecessary. Maybe so. The fan went on to ask how to explain to his teenager what pride is and how he should define it.

I responded:

Pride is like faith, you can’t touch it, but you can see it if you know what to look for. A simile might be is that it is like carbon monoxide: colorless, odorless, and tasteless. Intoxicating might be an apt word in that pride can be good or bad. The definition of pride starts with a belief in oneself, appropriately called self-esteem. How, then, does one develop self-confidence? One method might be to observe others who display a sense of pride. As it was once said, “you can observe a lot, just be watching.” However, it is important to be discriminating.

Pride can be displayed properly or wrongly. It can be described as showing excessive self-esteem meaning arrogance or a lack of concern for others. Being proud needs to follow a path of caring for others. If hubris develops, you lose the value of what pride is all about.

Pride is easy to develop when you are successful in everything you do, with no failures. It’s hard to find that person. Pride can take a hit when a failure occurs. When that happens, you need to rebuild your self-esteem through positive affirmations or experiences. Experience, they say, is the ability to recognize a mistake when you make it again. Development of pride then can come from experience.

At one time I produced a video called “P*R*I*D*E in Action” in which I used the word PRIDE as sort of an acronym. ”P” was for personal power; “R” for responsibility (not blaming others); “I” for innovation (you predict the future by creating it); “D” is to design (an action plan to achieve); “E” is for everyone as in (T*E*A*M -Together Everyone Accomplishes More). Each of us needs all of us!

Will you put your pride in action today?

Posted On Friday, 22 October 2021 00:00 Written by
Posted On Wednesday, 20 October 2021 12:18 Written by
Posted On Wednesday, 20 October 2021 10:38 Written by
Posted On Monday, 18 October 2021 08:14 Written by
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