Wednesday, June 9, 2010
Friday, May 7, 2010
Cash for Clunker Appliances
Cash for Clunker Appliances
The fridge on its last legs? Uncle Sam wants you to replace it with a new, energy efficient model – and will give you money to do so.
By Jim Ostroff, Kiplinger.com
Cash for Clunker Appliances - The fridge on its last legs? Uncle Sam wants you to replace it with a new, energy efficient model – and will give you money to do so. - By Jim Ostroff, Kiplinger.com
Cash rebates for clunker vehicles were such a smash hit, the government is at it again – this time offering you cash for your worn-out household appliances.
The $300-million federal program – administered through the states – will provide consumers with a cash rebate of up to 15% of the cost of each new Energy Star-rated refrigerator, freezer, dishwasher, clothes washer, water heater and room air conditioner. Expect rebates to run from $100 to $250, depending on the cost of the appliance.
But wait – there's more. The program also covers central AC/heating systems, providing rebates of up to $1,500 for Energy Star-rated replacement systems plus a federal income tax credit of up to $1,500 on purchases made by the end of this year.
Though a few states – Iowa, Kansas, Minnesota and Rhode Island – have jumped the gun and already have the incentives in play, most other states will launch the program later this month. States' shares of the federal program are based on population. California will receive the top amount: $35.3 million; Wyoming, the smallest: $511,000.
Based on early results in the four front-runner states, the appliance program will be as wildly popular with consumers as the cash-for-clunker car program was.
Appliance manufacturers and retailers are excited, eager for the sales boost the program will provide. The rebates should push sales of appliances to $22 billion this year – up 10% over last year, when sales bottomed at around $20 billion – though that's still down 15% from the record hit during the housing boom in 2005.
General Electric, Westinghouse, Whirlpool, Maytag, Trane, Carrier, Viking and other manufacturers, as well as national chain and independent retailers, hope that many consumers in need of one appliance will decide to spring for another as well, since the government is paying part of the tab. Many retailers are also planning discount tie-in promotions, offering big savings on related merchandise – such as outdoor gas grills and riding lawn mowers – that's not eligible for the federal rebates.
Is there a catch? Only a small one, but it shouldn't cause anyone any grief. Uncle Sam wants proof that an old appliance is being recycled before paying the rebate on the replacement. But reputable installers will be happy to haul your old appliance away for recycling at little or no charge after they set up your new one.
The fridge on its last legs? Uncle Sam wants you to replace it with a new, energy efficient model – and will give you money to do so.
By Jim Ostroff, Kiplinger.com
Cash for Clunker Appliances - The fridge on its last legs? Uncle Sam wants you to replace it with a new, energy efficient model – and will give you money to do so. - By Jim Ostroff, Kiplinger.com
Cash rebates for clunker vehicles were such a smash hit, the government is at it again – this time offering you cash for your worn-out household appliances.
The $300-million federal program – administered through the states – will provide consumers with a cash rebate of up to 15% of the cost of each new Energy Star-rated refrigerator, freezer, dishwasher, clothes washer, water heater and room air conditioner. Expect rebates to run from $100 to $250, depending on the cost of the appliance.
But wait – there's more. The program also covers central AC/heating systems, providing rebates of up to $1,500 for Energy Star-rated replacement systems plus a federal income tax credit of up to $1,500 on purchases made by the end of this year.
Though a few states – Iowa, Kansas, Minnesota and Rhode Island – have jumped the gun and already have the incentives in play, most other states will launch the program later this month. States' shares of the federal program are based on population. California will receive the top amount: $35.3 million; Wyoming, the smallest: $511,000.
Based on early results in the four front-runner states, the appliance program will be as wildly popular with consumers as the cash-for-clunker car program was.
Appliance manufacturers and retailers are excited, eager for the sales boost the program will provide. The rebates should push sales of appliances to $22 billion this year – up 10% over last year, when sales bottomed at around $20 billion – though that's still down 15% from the record hit during the housing boom in 2005.
General Electric, Westinghouse, Whirlpool, Maytag, Trane, Carrier, Viking and other manufacturers, as well as national chain and independent retailers, hope that many consumers in need of one appliance will decide to spring for another as well, since the government is paying part of the tab. Many retailers are also planning discount tie-in promotions, offering big savings on related merchandise – such as outdoor gas grills and riding lawn mowers – that's not eligible for the federal rebates.
Is there a catch? Only a small one, but it shouldn't cause anyone any grief. Uncle Sam wants proof that an old appliance is being recycled before paying the rebate on the replacement. But reputable installers will be happy to haul your old appliance away for recycling at little or no charge after they set up your new one.
Tuesday, April 6, 2010
Overpowering Procrastination
Procrastination, like a slow leak under an upstairs sink, can do major damage. But just like that slow leak, you can avoid the damage with regular "maintenance" of those tasks you're tempted to put off.
Get more information. Sometimes, procrastination is a result of too little information. When "I don't know where to start" is the problem, write down a list of questions related to the issue you've been putting off. This way you'll find out what you know and what you don't know, and if you need to consult someone else to help you find answers.
Do it or ditch it. When a lack of information isn't the problem, you may need a deadline to help you decide if the task is worth the mental stress of continuously putting it off. Is there a reason you're putting it off? Do you suspect the task is a waste of time to begin with? Pick a date to pull the trigger or let it pass. Repeating the cycle of planning, procrastination, and the subsequent guilt is counterproductive. Either you'll have the sweet relief of finishing the task, or you'll enjoy the lighter load of letting it go.
Don't sell out your long-term dreams for the short-term pleasure of putting off a little work. You can defeat procrastination today... so don't put it off until tomorrow.
Get more information. Sometimes, procrastination is a result of too little information. When "I don't know where to start" is the problem, write down a list of questions related to the issue you've been putting off. This way you'll find out what you know and what you don't know, and if you need to consult someone else to help you find answers.
Do it or ditch it. When a lack of information isn't the problem, you may need a deadline to help you decide if the task is worth the mental stress of continuously putting it off. Is there a reason you're putting it off? Do you suspect the task is a waste of time to begin with? Pick a date to pull the trigger or let it pass. Repeating the cycle of planning, procrastination, and the subsequent guilt is counterproductive. Either you'll have the sweet relief of finishing the task, or you'll enjoy the lighter load of letting it go.
Don't sell out your long-term dreams for the short-term pleasure of putting off a little work. You can defeat procrastination today... so don't put it off until tomorrow.
Friday, April 2, 2010
Key Features of the New Housing Rescue Plan
Key Features of the New Housing Rescue Plan
The government’s newest housing rescue effort, which was announced Friday, includes these key tenets:
· As much as $14 billion of the Troubled Asset Relief Program (TARP) will be made available to pay for writing down second liens for loans whose borrowers refinance through the Federal Housing Administration.
· Lenders that facilitate refinances through the FHA will be required to write down the principal of the first mortgage by at least 10 percent so the home owner has a loan-to-value ratio no higher than 97.75 percent.
· Lenders of second liens will be offered incentives of 10 cents to 21 cents per dollar of principal they write down in connection with an FHA refinance.
· Borrowers who lose their jobs can apply to have their mortgage payments reduced for three to six months while they search for a new job.
· Borrowers with a payment still greater than 31 percent of income after they find a job will be considered for a permanent loan modification.
· To encourage more short sales and “deed in lieu” of foreclosure transactions in which the lender settles the loan for less than is owed, the government will double assistance to borrowers to $3,000 and increase incentives to subordinate lien holders and investors to $6,000.
Source: Reuters News (03/26/2010)
The government’s newest housing rescue effort, which was announced Friday, includes these key tenets:
· As much as $14 billion of the Troubled Asset Relief Program (TARP) will be made available to pay for writing down second liens for loans whose borrowers refinance through the Federal Housing Administration.
· Lenders that facilitate refinances through the FHA will be required to write down the principal of the first mortgage by at least 10 percent so the home owner has a loan-to-value ratio no higher than 97.75 percent.
· Lenders of second liens will be offered incentives of 10 cents to 21 cents per dollar of principal they write down in connection with an FHA refinance.
· Borrowers who lose their jobs can apply to have their mortgage payments reduced for three to six months while they search for a new job.
· Borrowers with a payment still greater than 31 percent of income after they find a job will be considered for a permanent loan modification.
· To encourage more short sales and “deed in lieu” of foreclosure transactions in which the lender settles the loan for less than is owed, the government will double assistance to borrowers to $3,000 and increase incentives to subordinate lien holders and investors to $6,000.
Source: Reuters News (03/26/2010)
Friday, March 5, 2010
Managing Stress, Part 1
Managing Stress, Part I
Sleep Your Way To Success!
By Ingo Logé PhD, CCN & Nutritional Life Coach
Managing Stress, Part ISleep Your Way To Success!By Ingo Logé PhD, CCN & Nutritional Life Coach
You've probably heard the saying from Ben Franklin that, "Early to bed, early to rise makes a man healthy, wealthy, and wise." Of course this is great advice, but did you know that there are some important scientific reasons why?
These days, too little sleep and too much stress are common problems for many of us. That's why I've written this special two-part series that explains what happens in our bodies when we don't get enough sleep, and why relying on sugar and caffeine are the worst things you can do to feel more refreshed and energized.
Early to Bed
Evolution has designed our bodies to follow a number of natural rhythms. The movements of the sun, the moon and the earth literally govern all of our hormonal rhythms. Our relationship to the sun, for example, directs the seasonal influences on our bodies. At different times of the year, the length of the day is different and this fact has shaped our behavior for most of human history.
In winter for example, it is normal to go to bed earlier and get more sleep. It's cold too, which encourages us to stay in bed in the morning. In summer, it is warmer and the days are longer so we tend to be more energetic. More daylight also lends itself naturally to longer workdays or play days. The spring season gives us a nice slow transition into the more energy expressive summer season, while fall gives us a nice, gentle transition into the more restful winter season.
It is the rising of the sun that triggers the hormones that wake us in the morning and the setting of the sun that triggers the hormones that enact rest and repair during the night. If you are physically active, especially if you're an athlete, missing out on rest is particularly damaging. You end up missing out on needed physical repair time and injury becomes far more likely. I've consulted with many athletes experiencing this very problem over the years.
When you stay up past 2:00 am, be it partying, working the night shift or getting up to care for infants, you'll start displaying nervous system fatigue. This often shows up as headaches, muscle twitching in the face and around one or both eyes. Additionally, anyone that misses the optimal sleep cycle, even if they sleep later into the morning, will not get the same degree of restoration as if they had gone to bed by 10:00 pm because the repair cycles are driven by solar, lunar and terrestrial forces, which really don't care about what shift you work or late night TV! When this continues, even for a few days, this is when the caffeine/sugar cycle can really sink its claws into you.
Tips for Getting to Sleep at Night
Today, we are quite literally bombarded with electromagnetic pollution and overly stimulated by artificial light sources, such as lamps, TVs, digital alarm clocks and any number of light (and electromagnetic) emitting appliances that may be near us when we sleep. This is critical to understand because our bodies are extremely sensitive to all types of light, and extremely sensitive to the need for sleep too! These light sources can trigger the awakening/stress hormones, making sleep difficult. This means not only a loss of sleep, but that the quality of your sleep diminishes.
These effects begin to stack up on one another as lack of sleep is interpreted as a very significant stress input by your body. This triggers further production of stress hormones. These hormones further disrupt your sleep duration and quality, blocking your ability to regenerate your bodily tissues and systems.
Here are some tips to help you get to bed by 10:00 pm so you don't miss your body's natural repair cycles:
1. Get up with the sun. I recommend rising at 6:00 am in the beginning because that way you will naturally be fatigued by the time 10:00 pm rolls around. Early rising is better for the body than late-night activity if you need to get more work or studies done.
2. Dim the lights in the house about 2 hours before bedtime. If possible, use natural bees wax candles. Typical electrical lighting is very stimulating to the part of the brain that is both light and time sensitive. Remember, electric lights appeared very recently in our evolutionary history. They trick your brain into thinking that the sun is coming up at midnight and your body into releasing stress hormones to prepare you for another day's work! That really disrupts sleep patterns.
3. Try using some essential oils. Oil of lavender is great in bath water or mixed with some cream and massaged into the front of the neck, stomach, along the spine and in the groin region as well as on the feet. Mountain Rose Herbs makes great oils, and they have a special blend called Sleep Ease Oil which, when rubbed behind the knees, works well for aiding your sleep.
4. If you can tolerate milk, warm organic milk helps release the neurotransmitter tryptophan, which often makes people drowsy. You'll know if you cannot digest dairy products well or are lactose intolerant if you suffer from bloating, abdominal cramps, nausea, gas and diarrhea within 30 minutes of eating a dairy product. You may also wake up with a stuffy nose and excess sleep in your eyes after eating dairy as well.
5. Try unplugging all electrical devices in your room for a few nights. The electromagnetic pollution from electrical devices keeps a lot of people from sleeping well.
6. Leave your window partially open at night so that you can keep fresh air in the room and don't let the room get too warm either. People typically sleep best when there is fresh air in the room and it's about 60-65 degrees. If it's too warm, you will sweat and feel stuffy and that's a form of stress to the body. Again, out come the stress hormones and goodbye deep sleep.
7. There are some excellent music selections that will help you sleep these days, too. I find nature sounds helpful. Most music stores have a section of music to help people relax and sleep. Keep the volume low enough that it's not disruptive. In my experience, the right music can work like a charm!
8. Shower or bathe before bed. If you don't have a whole-house water filtration system, purchase a shower or a bath filter to remove chlorine. Coming to bed clean and fresh has a relaxing effect. Be sure not to put any mass-market, non-organic commercial scents, oils or hygiene products on your body at night. Most of these products are loaded with toxins that elevate stress hormones. If you are already sleep challenged, I recommend that you stop using commercial body care products, particularly before bedtime. It can make a huge difference!
9. Make sure the windows are well covered. Even the smallest amount of light can wake some people up. This is one of the most common causes of premature awakening. Streetlights, flashes of light from cars driving by, and the sun rising in the morning can all put an end to a lovely sleep in a flash.
Be sure to check out Part 2 of my article next month to learn more about why sugar and caffeine are not your allies when it comes to getting a handle on stress. Also, check out my "Ways to Reduce Stress" download complete with exercises to help you decrease stress. In the meantime, here's to many good nights of sleep for you!
Sleep Your Way To Success!
By Ingo Logé PhD, CCN & Nutritional Life Coach
Managing Stress, Part ISleep Your Way To Success!By Ingo Logé PhD, CCN & Nutritional Life Coach
You've probably heard the saying from Ben Franklin that, "Early to bed, early to rise makes a man healthy, wealthy, and wise." Of course this is great advice, but did you know that there are some important scientific reasons why?
These days, too little sleep and too much stress are common problems for many of us. That's why I've written this special two-part series that explains what happens in our bodies when we don't get enough sleep, and why relying on sugar and caffeine are the worst things you can do to feel more refreshed and energized.
Early to Bed
Evolution has designed our bodies to follow a number of natural rhythms. The movements of the sun, the moon and the earth literally govern all of our hormonal rhythms. Our relationship to the sun, for example, directs the seasonal influences on our bodies. At different times of the year, the length of the day is different and this fact has shaped our behavior for most of human history.
In winter for example, it is normal to go to bed earlier and get more sleep. It's cold too, which encourages us to stay in bed in the morning. In summer, it is warmer and the days are longer so we tend to be more energetic. More daylight also lends itself naturally to longer workdays or play days. The spring season gives us a nice slow transition into the more energy expressive summer season, while fall gives us a nice, gentle transition into the more restful winter season.
It is the rising of the sun that triggers the hormones that wake us in the morning and the setting of the sun that triggers the hormones that enact rest and repair during the night. If you are physically active, especially if you're an athlete, missing out on rest is particularly damaging. You end up missing out on needed physical repair time and injury becomes far more likely. I've consulted with many athletes experiencing this very problem over the years.
When you stay up past 2:00 am, be it partying, working the night shift or getting up to care for infants, you'll start displaying nervous system fatigue. This often shows up as headaches, muscle twitching in the face and around one or both eyes. Additionally, anyone that misses the optimal sleep cycle, even if they sleep later into the morning, will not get the same degree of restoration as if they had gone to bed by 10:00 pm because the repair cycles are driven by solar, lunar and terrestrial forces, which really don't care about what shift you work or late night TV! When this continues, even for a few days, this is when the caffeine/sugar cycle can really sink its claws into you.
Tips for Getting to Sleep at Night
Today, we are quite literally bombarded with electromagnetic pollution and overly stimulated by artificial light sources, such as lamps, TVs, digital alarm clocks and any number of light (and electromagnetic) emitting appliances that may be near us when we sleep. This is critical to understand because our bodies are extremely sensitive to all types of light, and extremely sensitive to the need for sleep too! These light sources can trigger the awakening/stress hormones, making sleep difficult. This means not only a loss of sleep, but that the quality of your sleep diminishes.
These effects begin to stack up on one another as lack of sleep is interpreted as a very significant stress input by your body. This triggers further production of stress hormones. These hormones further disrupt your sleep duration and quality, blocking your ability to regenerate your bodily tissues and systems.
Here are some tips to help you get to bed by 10:00 pm so you don't miss your body's natural repair cycles:
1. Get up with the sun. I recommend rising at 6:00 am in the beginning because that way you will naturally be fatigued by the time 10:00 pm rolls around. Early rising is better for the body than late-night activity if you need to get more work or studies done.
2. Dim the lights in the house about 2 hours before bedtime. If possible, use natural bees wax candles. Typical electrical lighting is very stimulating to the part of the brain that is both light and time sensitive. Remember, electric lights appeared very recently in our evolutionary history. They trick your brain into thinking that the sun is coming up at midnight and your body into releasing stress hormones to prepare you for another day's work! That really disrupts sleep patterns.
3. Try using some essential oils. Oil of lavender is great in bath water or mixed with some cream and massaged into the front of the neck, stomach, along the spine and in the groin region as well as on the feet. Mountain Rose Herbs makes great oils, and they have a special blend called Sleep Ease Oil which, when rubbed behind the knees, works well for aiding your sleep.
4. If you can tolerate milk, warm organic milk helps release the neurotransmitter tryptophan, which often makes people drowsy. You'll know if you cannot digest dairy products well or are lactose intolerant if you suffer from bloating, abdominal cramps, nausea, gas and diarrhea within 30 minutes of eating a dairy product. You may also wake up with a stuffy nose and excess sleep in your eyes after eating dairy as well.
5. Try unplugging all electrical devices in your room for a few nights. The electromagnetic pollution from electrical devices keeps a lot of people from sleeping well.
6. Leave your window partially open at night so that you can keep fresh air in the room and don't let the room get too warm either. People typically sleep best when there is fresh air in the room and it's about 60-65 degrees. If it's too warm, you will sweat and feel stuffy and that's a form of stress to the body. Again, out come the stress hormones and goodbye deep sleep.
7. There are some excellent music selections that will help you sleep these days, too. I find nature sounds helpful. Most music stores have a section of music to help people relax and sleep. Keep the volume low enough that it's not disruptive. In my experience, the right music can work like a charm!
8. Shower or bathe before bed. If you don't have a whole-house water filtration system, purchase a shower or a bath filter to remove chlorine. Coming to bed clean and fresh has a relaxing effect. Be sure not to put any mass-market, non-organic commercial scents, oils or hygiene products on your body at night. Most of these products are loaded with toxins that elevate stress hormones. If you are already sleep challenged, I recommend that you stop using commercial body care products, particularly before bedtime. It can make a huge difference!
9. Make sure the windows are well covered. Even the smallest amount of light can wake some people up. This is one of the most common causes of premature awakening. Streetlights, flashes of light from cars driving by, and the sun rising in the morning can all put an end to a lovely sleep in a flash.
Be sure to check out Part 2 of my article next month to learn more about why sugar and caffeine are not your allies when it comes to getting a handle on stress. Also, check out my "Ways to Reduce Stress" download complete with exercises to help you decrease stress. In the meantime, here's to many good nights of sleep for you!
Thursday, March 4, 2010
Creating Team Loyalty
Creating Team Loyalty
Lead By Example
Do you suffer from high turnover in the workplace? One issue that is greatly underestimated by most managers is that of employee turnover. It can literally wreck your organization and your continuity.
The longer you have a consistent team in place, the more you learn to become an extension of each other. Your productivity and efficiency skyrockets when you have a team that works well together. For this reason, it is incredibly important that you create a working environment that allows your team to flourish, a place where your employees want to be on a long-term basis. Remember, your employees spend more of their waking hours in the workplace than anywhere else. You need to strive to make it an enjoyable environment.
Lead by example. Create clarity within the job descriptions you provide. Make sure the organization's vision and Mission Statement are crystal clear and embodied in the actions of each and every member of your team.
Create loyalty by tending to special needs. It helps to show your appreciation for your team members and make sure you are building loyalty with them. For example, many employees are working parents. One of the most difficult times of the year for them is during the summer. The children are not in school, and the parent is wishing he or she didn't have to work and wants to be with his or her children. This is a great time to do something special for them.
Pay a housekeeper to handle their housecleaning responsibilities a couple of times a month. This is a way to let that valued employee know that you don't want them to be home on a Saturday morning cleaning the house when they could be out doing something exciting with their children. During the holidays you can offer to have their car washed or their houses cleaned so they can focus on their holiday gift shopping and spend time with their family. These are little things that add up to big results.
Get to know your employees' "other half." Remember, your employees' spouse can be your advocate or your enemy. This is the person your employee goes home to every night after a long day of work, and it is quite possible this is the person they will vent their frustrations to. If you have this spouse as your advocate, the spouse will defend you and remind your employee that they have a lot going for them with this job.
If you haven't taken the time to get to know your employees' significant others through occasional group functions, you are putting yourself in a position where this person, who could have been your advocate, is now someone who is suggesting the best solution is to look for another job! Keep in mind that the success of a great team is greatly dependent on your ability to keep key individuals as long as possible.
Lead By Example
Do you suffer from high turnover in the workplace? One issue that is greatly underestimated by most managers is that of employee turnover. It can literally wreck your organization and your continuity.
The longer you have a consistent team in place, the more you learn to become an extension of each other. Your productivity and efficiency skyrockets when you have a team that works well together. For this reason, it is incredibly important that you create a working environment that allows your team to flourish, a place where your employees want to be on a long-term basis. Remember, your employees spend more of their waking hours in the workplace than anywhere else. You need to strive to make it an enjoyable environment.
Lead by example. Create clarity within the job descriptions you provide. Make sure the organization's vision and Mission Statement are crystal clear and embodied in the actions of each and every member of your team.
Create loyalty by tending to special needs. It helps to show your appreciation for your team members and make sure you are building loyalty with them. For example, many employees are working parents. One of the most difficult times of the year for them is during the summer. The children are not in school, and the parent is wishing he or she didn't have to work and wants to be with his or her children. This is a great time to do something special for them.
Pay a housekeeper to handle their housecleaning responsibilities a couple of times a month. This is a way to let that valued employee know that you don't want them to be home on a Saturday morning cleaning the house when they could be out doing something exciting with their children. During the holidays you can offer to have their car washed or their houses cleaned so they can focus on their holiday gift shopping and spend time with their family. These are little things that add up to big results.
Get to know your employees' "other half." Remember, your employees' spouse can be your advocate or your enemy. This is the person your employee goes home to every night after a long day of work, and it is quite possible this is the person they will vent their frustrations to. If you have this spouse as your advocate, the spouse will defend you and remind your employee that they have a lot going for them with this job.
If you haven't taken the time to get to know your employees' significant others through occasional group functions, you are putting yourself in a position where this person, who could have been your advocate, is now someone who is suggesting the best solution is to look for another job! Keep in mind that the success of a great team is greatly dependent on your ability to keep key individuals as long as possible.
Wednesday, March 3, 2010
"Hack Proof" your passwords
"Hack Proof" Your Passwords
Protect yourself and your clients from email hackers!
Recently, I received a frantic email message from an agent, apologizing to all of his contacts.
It turned out his email account had been hacked, and the hacker had sent out a fraudulent message to everyone in his address book explaining how he was "stranded in London" and needed cash, fast. What's worse, anyone that fell for the scam exposed themselves to identity theft.
Embarrassed, he admitted that the password had been easily hacked because it was a simple combination of letters and numbers... his daughter's name and birth year, in fact.
The hacker didn't even need to know the agent or his daughter... the password was so weak that a simple program was able to guess it in just a few minutes.
Suffice it to say he spent valuable hours that week apologizing, making sure no one had been taken in by the scam, and trying to rebuild the credibility of his email address. Ultimately he abandoned it for a new address. His trust sure took a hit that week.
Don't let this happen to you. Next time you have to come up with a password, use this free website, "Strong Password Generator":
http://strongpasswordgenerator.com
In addition to taking the pressure off of coming up with a suitably random sequence, it allows you to include specific lengths, include/exclude special characters, and provides you with a recommendation as to how to remember the new password.
Protect yourself and protect your clients' trust!
Protect yourself and your clients from email hackers!
Recently, I received a frantic email message from an agent, apologizing to all of his contacts.
It turned out his email account had been hacked, and the hacker had sent out a fraudulent message to everyone in his address book explaining how he was "stranded in London" and needed cash, fast. What's worse, anyone that fell for the scam exposed themselves to identity theft.
Embarrassed, he admitted that the password had been easily hacked because it was a simple combination of letters and numbers... his daughter's name and birth year, in fact.
The hacker didn't even need to know the agent or his daughter... the password was so weak that a simple program was able to guess it in just a few minutes.
Suffice it to say he spent valuable hours that week apologizing, making sure no one had been taken in by the scam, and trying to rebuild the credibility of his email address. Ultimately he abandoned it for a new address. His trust sure took a hit that week.
Don't let this happen to you. Next time you have to come up with a password, use this free website, "Strong Password Generator":
http://strongpasswordgenerator.com
In addition to taking the pressure off of coming up with a suitably random sequence, it allows you to include specific lengths, include/exclude special characters, and provides you with a recommendation as to how to remember the new password.
Protect yourself and protect your clients' trust!
Tuesday, March 2, 2010
Get Outside Your Comfort Zone
Get Outside Your Comfort Zone
How to create a competitive advantage when it comes to learning new concepts.
"He who knows most, knows how little he knows." --Thomas Jefferson (1743-1826)
Keep pretending you know and your business will be slow.
That's the mantra I offer everyone I consult to on marketing and business development. It's the same in real estate. Learning translates to earning.
You may not see Facebook as a great place to connect with clients right now, but you certainly need to know how it works. When was the last time you met someone who refused to use email these days? It sounds silly, but in the late 1990s, there were plenty of real estate agents who thought email was a useless distraction to their "face to face" business.
When I come across something that interests me that I don't quite understand, I get excited. It means there are new possibilities around the corner. It means when I listen to someone explain this new concept to me, I'm going to see opportunities to combine what I'm learning with what I already know, and from there, game changing ideas will be possible.
Too often, people dismiss ideas which are outside their comfort zone. They want to assume these new ideas are irrelevant, because they are afraid. They have a fear of failure, a fear of being left behind, a fear that they are unable to grasp the world changing around them. So instead of learning, they deny themselves the opportunity for growth.
That's where you can win. Learn to push yourself outside of your comfort zone, and you will instantly create a competitive advantage for yourself in your market.
How to create a competitive advantage when it comes to learning new concepts.
"He who knows most, knows how little he knows." --Thomas Jefferson (1743-1826)
Keep pretending you know and your business will be slow.
That's the mantra I offer everyone I consult to on marketing and business development. It's the same in real estate. Learning translates to earning.
You may not see Facebook as a great place to connect with clients right now, but you certainly need to know how it works. When was the last time you met someone who refused to use email these days? It sounds silly, but in the late 1990s, there were plenty of real estate agents who thought email was a useless distraction to their "face to face" business.
When I come across something that interests me that I don't quite understand, I get excited. It means there are new possibilities around the corner. It means when I listen to someone explain this new concept to me, I'm going to see opportunities to combine what I'm learning with what I already know, and from there, game changing ideas will be possible.
Too often, people dismiss ideas which are outside their comfort zone. They want to assume these new ideas are irrelevant, because they are afraid. They have a fear of failure, a fear of being left behind, a fear that they are unable to grasp the world changing around them. So instead of learning, they deny themselves the opportunity for growth.
That's where you can win. Learn to push yourself outside of your comfort zone, and you will instantly create a competitive advantage for yourself in your market.
Thursday, February 25, 2010
Five Keys to Successful Delegation
Five Keys to Successful Delegation
You are overqualified for most of the things you do in both your personal and professional life. If you are doing all the work, you will never reach your full potential. Here are five keys to help you delegate effectively, and achieve the success you desire:
1. Hire people who are more gifted than you. Their strengths should be your weaknesses. Oftentimes people (1) hire others just like them, and (2) hire others cheaply because they haven’t made the decision that an assistant or new team member is worth the money. Hire the right people today so you won’t be sorry tomorrow.
2. Follow the 30/30/30 System for maximum empowerment. When you bring an assistant on board, follow this plan:
For the first 30 days: (1) Let them shadow you (i.e., watch you do what they will one day be doing), (2) Highlight when you do what they’ll be doing, (3) Answer their questions often, and (4) Test their knowledge daily.
For the second 30 days: (1) You spot shadow them (i.e., watch them as they perform different tasks), (2) Coach and train them in key areas (to do otherwise is to set them up for failure), (3) Ask them questions daily, and (4) Test their knowledge often.
For the third 30 days: (1) Coach them daily, (2) Train them weekly, and (3) Empower them permanently.
3. Be more concerned with outcome than process. Know that different people with different talents can get you what you want through a different process than the one you want them to have. Make a habit of telling people specifically what you want them to do and how you want the task to look when it is done. Then, let people do the task the way they want to do it, within the parameters of efficiency and consistency.
4. Build emotional equity by praising as much as you prune. Praise them publicly; prune them privately. It is really important to praise people publicly when they have done a great job for you. However, if you need to prune people, take care to do it privately so they won’t be embarrassed in front of their peers.
5. Consistently surprise them with value and they will constantly delight you with performance. Whether you reward team members with a surprise gift certificate, trip, or day off, the surprise factor is huge. These rewards don’t have to happen often, but make sure they happen often enough. You will be delighted with the performance you get from people as a result.
You are overqualified for most of the things you do in both your personal and professional life. If you are doing all the work, you will never reach your full potential. Here are five keys to help you delegate effectively, and achieve the success you desire:
1. Hire people who are more gifted than you. Their strengths should be your weaknesses. Oftentimes people (1) hire others just like them, and (2) hire others cheaply because they haven’t made the decision that an assistant or new team member is worth the money. Hire the right people today so you won’t be sorry tomorrow.
2. Follow the 30/30/30 System for maximum empowerment. When you bring an assistant on board, follow this plan:
For the first 30 days: (1) Let them shadow you (i.e., watch you do what they will one day be doing), (2) Highlight when you do what they’ll be doing, (3) Answer their questions often, and (4) Test their knowledge daily.
For the second 30 days: (1) You spot shadow them (i.e., watch them as they perform different tasks), (2) Coach and train them in key areas (to do otherwise is to set them up for failure), (3) Ask them questions daily, and (4) Test their knowledge often.
For the third 30 days: (1) Coach them daily, (2) Train them weekly, and (3) Empower them permanently.
3. Be more concerned with outcome than process. Know that different people with different talents can get you what you want through a different process than the one you want them to have. Make a habit of telling people specifically what you want them to do and how you want the task to look when it is done. Then, let people do the task the way they want to do it, within the parameters of efficiency and consistency.
4. Build emotional equity by praising as much as you prune. Praise them publicly; prune them privately. It is really important to praise people publicly when they have done a great job for you. However, if you need to prune people, take care to do it privately so they won’t be embarrassed in front of their peers.
5. Consistently surprise them with value and they will constantly delight you with performance. Whether you reward team members with a surprise gift certificate, trip, or day off, the surprise factor is huge. These rewards don’t have to happen often, but make sure they happen often enough. You will be delighted with the performance you get from people as a result.
Tuesday, February 23, 2010
Thursday, February 18, 2010
Build A Great Team!
Build a Great Team
You Are the Quarterback!
There comes a point in time in every business professional's career when he or she is tired of being a jack-of-all-trades and a master of none. At that point, they look to take their business to another level, either to create more income, more balance in their life, or both. When you find yourself in this situation, you must know it's time to become an employer.
The first rule of teamwork is that a team can never be completely dependent upon any one individual. The most common mistake made is the leader of the team failing to delegate activities, therefore stunting the growth of the team.
The next important point to remember is that as a leader, part of your job is to build a team of decision makers. This can only be done by observing, directing and training your associates at a very high level. As a leader you are responsible for the job security of your people. The clearer the vision of the leader, the more people will follow. When building your team, as the chief, you must lead by example. One of the great problems leaders have is failing to practice what they preach!
Each team must have a Visionary and a Manager. A single person should not hold these positions. In many cases, one person tries to fill both roles. This is the classic case of a workaholic. These are the people who put in 60 or 70 hours a week and have no balance in their lives. You must let go of this attitude if you wish to achieve success in building a strong team and surround yourself with supporters. Surround yourself with people whom you can trust, and whom you know will get the job done. You must engage yourself with people who will follow your lead. Your classic implementation person can attain the results that you, the visionary, are seeking to achieve in your business plan.
You are the quarterback of your team, and as such, you must have people around you who will protect you and block for you. Make sure that your working environment is enjoyable and satisfying, because this is the place where your people spend most of their waking hours. They spend more hours in the workplace than anywhere else in their lives. If this is not a satisfying, gratifying and enjoyable place, how can you expect your employees to flourish?
With this in mind, make sure you avoid the temptation of micromanaging. While delegating is a critical part of your role as the Manager or Visionary, keeping too close an eye on your employees makes them feel untrusted and hesitant. Let employees know you expect them to make some mistakes, but that you trust them to excel at their work without you hounding them or watching their every move. You'll be grateful for employees who aren't afraid to use their own initiative, and who have confidence in themselves.
You Are the Quarterback!
There comes a point in time in every business professional's career when he or she is tired of being a jack-of-all-trades and a master of none. At that point, they look to take their business to another level, either to create more income, more balance in their life, or both. When you find yourself in this situation, you must know it's time to become an employer.
The first rule of teamwork is that a team can never be completely dependent upon any one individual. The most common mistake made is the leader of the team failing to delegate activities, therefore stunting the growth of the team.
The next important point to remember is that as a leader, part of your job is to build a team of decision makers. This can only be done by observing, directing and training your associates at a very high level. As a leader you are responsible for the job security of your people. The clearer the vision of the leader, the more people will follow. When building your team, as the chief, you must lead by example. One of the great problems leaders have is failing to practice what they preach!
Each team must have a Visionary and a Manager. A single person should not hold these positions. In many cases, one person tries to fill both roles. This is the classic case of a workaholic. These are the people who put in 60 or 70 hours a week and have no balance in their lives. You must let go of this attitude if you wish to achieve success in building a strong team and surround yourself with supporters. Surround yourself with people whom you can trust, and whom you know will get the job done. You must engage yourself with people who will follow your lead. Your classic implementation person can attain the results that you, the visionary, are seeking to achieve in your business plan.
You are the quarterback of your team, and as such, you must have people around you who will protect you and block for you. Make sure that your working environment is enjoyable and satisfying, because this is the place where your people spend most of their waking hours. They spend more hours in the workplace than anywhere else in their lives. If this is not a satisfying, gratifying and enjoyable place, how can you expect your employees to flourish?
With this in mind, make sure you avoid the temptation of micromanaging. While delegating is a critical part of your role as the Manager or Visionary, keeping too close an eye on your employees makes them feel untrusted and hesitant. Let employees know you expect them to make some mistakes, but that you trust them to excel at their work without you hounding them or watching their every move. You'll be grateful for employees who aren't afraid to use their own initiative, and who have confidence in themselves.
Wednesday, February 17, 2010
Athletes put RE/MAX brand front and center
Athletes Put Brand Front and Center
BODE MILLER
DANICA PATRICK
Want to see the power of RE/MAX at work? Check out the Feb. 11 edition of the Wall Street Journal where a photo of U.S. skier Bode Miller accompanied a story about tape delays for 2010 Winter Olympics in Vancouver on the front of the Marketplace section. The photo and article are also viewable online.
The Reuters photo was snapped Jan. 25 when Miller competed during the slalom of the FIS Alpine Skiing World Cup in Wengen, Switzerland. For the second year in a row, RE/MAX Europe sponsored the event in Wengen and in Kransjka Gora, Slovenia.
From the ski slopes to the race track, RE/MAX is everywhere in the sporting world. IndyCar star Danica Patrick made her stock car racing debut at the ARCA Racing Series season opener at Daytona on Feb. 6. RE/MAX is a co-presenting sponsor of the ARCA Racing series with Menard's. The race drew a record 2.4 million TV viewers largely because of the "Danica Factor."
Coverage of that event featured many images of Patrick in her signature lime-green driving suit, which bore a prominent RE/MAX patch at the time.
ESPN2 used Patrick – still in her RE/MAX suit – to heavily promote its coverage of the Feb. 13 NASCAR Nationwide Series race.
Here's a sampling of media in which Patrick is seen wearing the RE/MAX patch.
ARCA (photo)
ESPN (briefly seen in video; see :12 and 1:36 marks for best shots)
The Orlando Sentinel (photo)
Yahoo! Sports (photo and in video; see 2:47 and 3:23 marks for best shots)
BODE MILLER
DANICA PATRICK
Want to see the power of RE/MAX at work? Check out the Feb. 11 edition of the Wall Street Journal where a photo of U.S. skier Bode Miller accompanied a story about tape delays for 2010 Winter Olympics in Vancouver on the front of the Marketplace section. The photo and article are also viewable online.
The Reuters photo was snapped Jan. 25 when Miller competed during the slalom of the FIS Alpine Skiing World Cup in Wengen, Switzerland. For the second year in a row, RE/MAX Europe sponsored the event in Wengen and in Kransjka Gora, Slovenia.
From the ski slopes to the race track, RE/MAX is everywhere in the sporting world. IndyCar star Danica Patrick made her stock car racing debut at the ARCA Racing Series season opener at Daytona on Feb. 6. RE/MAX is a co-presenting sponsor of the ARCA Racing series with Menard's. The race drew a record 2.4 million TV viewers largely because of the "Danica Factor."
Coverage of that event featured many images of Patrick in her signature lime-green driving suit, which bore a prominent RE/MAX patch at the time.
ESPN2 used Patrick – still in her RE/MAX suit – to heavily promote its coverage of the Feb. 13 NASCAR Nationwide Series race.
Here's a sampling of media in which Patrick is seen wearing the RE/MAX patch.
ARCA (photo)
ESPN (briefly seen in video; see :12 and 1:36 marks for best shots)
The Orlando Sentinel (photo)
Yahoo! Sports (photo and in video; see 2:47 and 3:23 marks for best shots)
Tuesday, February 16, 2010
Is practical the enemy?
Is Practical the Enemy?
Overcome fear and land the breakthrough idea!
"If at first the idea is not absurd, then there is no hope for it." --Albert Einstein
One of the greatest challenge you face as you build your real estate business is coming up with new ideas to differentiate yourself and create meaningful relationships with clients. Breakthrough ideas can keep you top-of-mind with clients. How do you reinvent your skills and services in ways that attract new listing agreements? How will you tell a new story to sell an old home?
What holds people back in the pursuit of the new idea is often the habit of thinking too small. We are often our own worst critics, choosing only to work in the narrow space of "what makes sense" and "what is reasonable." This "color in the lines" mentality cuts us off from amazing ideas. We're quick to say, "That's impossible" when an idea seems absurd.
Resist this temptation. Explore the "impossible" ideas. Sure, they may seem impossible at first, but they might just lead you down a path you would have never discovered had you not suspended your inner critic and explored a "crazy" concept.
People are most comfortable shooting down ideas. But remember this: When someone says, "You're dreaming... that's ridiculous," they may be saying: "Your idea scares me-- it scares me because if you pull it off, I'll be forced to learn something new. I'll have to compete with you, and I won't know where to begin."
And if you find yourself saying, "I'd love to try it, but it's just not realistic," it could be that you're afraid of chasing a dream you most desire. After all, chasing a dream means risking a lot.
Beware of practical. Explore the absurd now and again.
Overcome fear and land the breakthrough idea!
"If at first the idea is not absurd, then there is no hope for it." --Albert Einstein
One of the greatest challenge you face as you build your real estate business is coming up with new ideas to differentiate yourself and create meaningful relationships with clients. Breakthrough ideas can keep you top-of-mind with clients. How do you reinvent your skills and services in ways that attract new listing agreements? How will you tell a new story to sell an old home?
What holds people back in the pursuit of the new idea is often the habit of thinking too small. We are often our own worst critics, choosing only to work in the narrow space of "what makes sense" and "what is reasonable." This "color in the lines" mentality cuts us off from amazing ideas. We're quick to say, "That's impossible" when an idea seems absurd.
Resist this temptation. Explore the "impossible" ideas. Sure, they may seem impossible at first, but they might just lead you down a path you would have never discovered had you not suspended your inner critic and explored a "crazy" concept.
People are most comfortable shooting down ideas. But remember this: When someone says, "You're dreaming... that's ridiculous," they may be saying: "Your idea scares me-- it scares me because if you pull it off, I'll be forced to learn something new. I'll have to compete with you, and I won't know where to begin."
And if you find yourself saying, "I'd love to try it, but it's just not realistic," it could be that you're afraid of chasing a dream you most desire. After all, chasing a dream means risking a lot.
Beware of practical. Explore the absurd now and again.
Overcome Self Sabotage
Overcome Self Sabotage
Embrace what you can do right now
"We cannot do everything at once, but we can do something at once." --Calvin Coolidge
Do you know what the root cause of self-sabotage is? A hyperactive obsession with road ahead. Let me explain:
Yes, it's essential that you are able to plan, project outcomes, and forsee obstacles in order to reach your goals. But at times, this ability to see into the future backfires on us. The very thing which enables you to pursue your goals is also the same mechanism which can leave you utterly paralyzed. The difficulty of the path ahead (as we think we see it) can murder our motivation. We become overwhelmed by our (often incorrect!) anticipation of the work. This, in turn, causes us to put off working towards our goals.
In the pursuit of goals, the happiest people are the ones who hike the trail one step at a time. They accept that they can't know the exact conditions of the terrain. They may have heard some crossings are difficult, some bridges may be out. But what do they do? They walk the path available. They follow their compass. When the time comes they have to cut a new trail, they break out the machete and trailblaze as required.
It's more important to have tools at your disposal to handle challenges than it is to have all of the challenges figured out in advance. Don't visualize the hardships! Trust yourself and set out armed with the best tools available at the time.
Overcome self sabotage! Embrace the work in front of you. Improvise when called for. You can't do it all at once, so do what you can right now.
Embrace what you can do right now
"We cannot do everything at once, but we can do something at once." --Calvin Coolidge
Do you know what the root cause of self-sabotage is? A hyperactive obsession with road ahead. Let me explain:
Yes, it's essential that you are able to plan, project outcomes, and forsee obstacles in order to reach your goals. But at times, this ability to see into the future backfires on us. The very thing which enables you to pursue your goals is also the same mechanism which can leave you utterly paralyzed. The difficulty of the path ahead (as we think we see it) can murder our motivation. We become overwhelmed by our (often incorrect!) anticipation of the work. This, in turn, causes us to put off working towards our goals.
In the pursuit of goals, the happiest people are the ones who hike the trail one step at a time. They accept that they can't know the exact conditions of the terrain. They may have heard some crossings are difficult, some bridges may be out. But what do they do? They walk the path available. They follow their compass. When the time comes they have to cut a new trail, they break out the machete and trailblaze as required.
It's more important to have tools at your disposal to handle challenges than it is to have all of the challenges figured out in advance. Don't visualize the hardships! Trust yourself and set out armed with the best tools available at the time.
Overcome self sabotage! Embrace the work in front of you. Improvise when called for. You can't do it all at once, so do what you can right now.
Avoid Texing Accidents with DriveSafe.ly
Avoid Texting Accidents with DriveSafe.ly
Prevent auto accidents with one convenient app
Texting while driving is a recipe for distaster. According to a 2007 study by "Students Against Destructive Decisions," nearly 50% of teens admit to text messaging while driving. We're willing to bet it's probably that high for your average on-the-go real estate pro, too.
If you're guilty of distracted driving, now there's a mobile app that might just save your life. From the website:
DriveSafe.ly is a mobile application that reads text (SMS) messages and emails aloud in real time and automatically responds without drivers touching the mobile phone. DriveSafe.ly is the solution to texting while driving.
According to the company behind DriveSafe.ly, the app's features include:
Reads your text messages and emails out loud in real time
Hands Free - No need to touch the phone while driving
One-touch activation - no complicated setup
Bluetooth and radio transmitter compatible
Reads text message shorthand (lol, brb)
Optional customizable auto-responder
Test drive the DriveSafe.ly app yourself here:
http://www.drivesafe.ly/
Prevent auto accidents with one convenient app
Texting while driving is a recipe for distaster. According to a 2007 study by "Students Against Destructive Decisions," nearly 50% of teens admit to text messaging while driving. We're willing to bet it's probably that high for your average on-the-go real estate pro, too.
If you're guilty of distracted driving, now there's a mobile app that might just save your life. From the website:
DriveSafe.ly is a mobile application that reads text (SMS) messages and emails aloud in real time and automatically responds without drivers touching the mobile phone. DriveSafe.ly is the solution to texting while driving.
According to the company behind DriveSafe.ly, the app's features include:
Reads your text messages and emails out loud in real time
Hands Free - No need to touch the phone while driving
One-touch activation - no complicated setup
Bluetooth and radio transmitter compatible
Reads text message shorthand (lol, brb)
Optional customizable auto-responder
Test drive the DriveSafe.ly app yourself here:
http://www.drivesafe.ly/
Thursday, February 11, 2010
Mindset of a Superstar
The Mindset of a Superstar
Three Steps to Success
Brett Figueroa is a personal success coach who worked under Tony Robbins for 6 years, and is now the owner of Momentum Strategies in Denver, Colorado. Brett says that there are three primary factors that put someone at the top of their game.
The Ultimate Goal.
Remember the movie City Slickers? What is your "one thing?" The one thing you want to truly make your life feel complete. "Too many people", Brett says, "go through life with a notion of what they want, without ever figuring out exactly what they want." Do you want to retire in a beachfront estate? Create a happy family? End world hunger?
The Strategy.
Once people know what they want, they need to map out how to get there. How will they position themselves to where they can reach their goal? If you don't yet have your map, look to others who have achieved what you want. Offer to buy them lunch so you can pick their brains. Create a map rather than just wandering around, hoping to stumble onto your dreams one day.
The Timeline.
When will you achieve your goal? What do you need to get there? When must you reach specific sub-goals in order to reach your final goal? Brett points out that if a person sets aside just one hour a day for their personal goal, they will have spent nine 40-hour weeks working on it by the end of the year!
If you don't already have these three components defined in your life, I recommend taking some time to do so when you're away from work. Check out some self-help books from the library, or buy a highly-rated one at Amazon.com. Get inspired, get ready, then get to work!
Three Steps to Success
Brett Figueroa is a personal success coach who worked under Tony Robbins for 6 years, and is now the owner of Momentum Strategies in Denver, Colorado. Brett says that there are three primary factors that put someone at the top of their game.
The Ultimate Goal.
Remember the movie City Slickers? What is your "one thing?" The one thing you want to truly make your life feel complete. "Too many people", Brett says, "go through life with a notion of what they want, without ever figuring out exactly what they want." Do you want to retire in a beachfront estate? Create a happy family? End world hunger?
The Strategy.
Once people know what they want, they need to map out how to get there. How will they position themselves to where they can reach their goal? If you don't yet have your map, look to others who have achieved what you want. Offer to buy them lunch so you can pick their brains. Create a map rather than just wandering around, hoping to stumble onto your dreams one day.
The Timeline.
When will you achieve your goal? What do you need to get there? When must you reach specific sub-goals in order to reach your final goal? Brett points out that if a person sets aside just one hour a day for their personal goal, they will have spent nine 40-hour weeks working on it by the end of the year!
If you don't already have these three components defined in your life, I recommend taking some time to do so when you're away from work. Check out some self-help books from the library, or buy a highly-rated one at Amazon.com. Get inspired, get ready, then get to work!
Wednesday, February 10, 2010
It's short sale time.....cont'd
Focused on the Future.........
Although he's successful at short sales, RE/MAX's Burrell concedes that more needs to be done to make the process work better: "One, we have to be able to have th offers qualified upfront. That way you get realistic offers and get the process going. Two, we need to break up the offers. The banks are swamped. Though they are trying to keep up, they need to outsource much of the work. Three, we need additional companies with trained people, perhaps former bank staff along with new people who can handle the huge demand that will be out there. Four, we need to implement innovative technology for speed and efficiency right now. That is critical. These things have to happen for the system to become streamlined and faster. This must happen for the system to become streamlined and faster. This must be the wave of the future for short sales."
Brinkley believes that the only significant push-back will probably come from the smaller junior lien investors. "However, the pressure on this type of investor--from the public and government sectors--to comply with HAFA protocols will be significant, " he added.
McCabe agrees with Brinkley that while HAFA is likely to be adopted successfully within the industry, the issue of the role junior lien holders needs to be addressed. "The second major hurdle, " said McCabe, "is the adoption by a mortgage insurance company to approve the short sale without a promissory note. If the borrower has the capacity to pay on an unsecured note, an mortgage insurane company will likely require such." Such issures, as McCabe and Brinkley noted, are likely to pop up increasingly in the next year as short sales continue to become accepted by the industry and are the reason the discusssion over short-sales best practives cannot end with HAFA.
But as the Fed continues to dangle more regulatory carrots to make the process more transparent and eefficient, short sales will continue to gain momentum. Satterwhite added, "Short sales will continue to gain acceptance and interest as the government initiatives continue to provide incentives, along with vastly improved technology to make the process faster and better. When we do this, we make short sales more attractive to all parties as a preferable alternative to foreclosure, so the short sale can bring us part of th eway to a housing recovery."
To be sure, a healthy housing industry buttressed by successful short sales won't just benefit beleagured borrowers, frazzled lenders, and stressed servicers--it will help the entire country, which has been hammered by the financial ripple effect of foreclosures. And it's the indusstry itself that's poised to bring it back from teh brink, emphasizes Bureel. "It's patriotic, " he said. "Our industry helped cause this problem; we need to be the ones to fix it. Not just for recovery of the housing industry, but to save America."
Although he's successful at short sales, RE/MAX's Burrell concedes that more needs to be done to make the process work better: "One, we have to be able to have th offers qualified upfront. That way you get realistic offers and get the process going. Two, we need to break up the offers. The banks are swamped. Though they are trying to keep up, they need to outsource much of the work. Three, we need additional companies with trained people, perhaps former bank staff along with new people who can handle the huge demand that will be out there. Four, we need to implement innovative technology for speed and efficiency right now. That is critical. These things have to happen for the system to become streamlined and faster. This must happen for the system to become streamlined and faster. This must be the wave of the future for short sales."
Brinkley believes that the only significant push-back will probably come from the smaller junior lien investors. "However, the pressure on this type of investor--from the public and government sectors--to comply with HAFA protocols will be significant, " he added.
McCabe agrees with Brinkley that while HAFA is likely to be adopted successfully within the industry, the issue of the role junior lien holders needs to be addressed. "The second major hurdle, " said McCabe, "is the adoption by a mortgage insurance company to approve the short sale without a promissory note. If the borrower has the capacity to pay on an unsecured note, an mortgage insurane company will likely require such." Such issures, as McCabe and Brinkley noted, are likely to pop up increasingly in the next year as short sales continue to become accepted by the industry and are the reason the discusssion over short-sales best practives cannot end with HAFA.
But as the Fed continues to dangle more regulatory carrots to make the process more transparent and eefficient, short sales will continue to gain momentum. Satterwhite added, "Short sales will continue to gain acceptance and interest as the government initiatives continue to provide incentives, along with vastly improved technology to make the process faster and better. When we do this, we make short sales more attractive to all parties as a preferable alternative to foreclosure, so the short sale can bring us part of th eway to a housing recovery."
To be sure, a healthy housing industry buttressed by successful short sales won't just benefit beleagured borrowers, frazzled lenders, and stressed servicers--it will help the entire country, which has been hammered by the financial ripple effect of foreclosures. And it's the indusstry itself that's poised to bring it back from teh brink, emphasizes Bureel. "It's patriotic, " he said. "Our industry helped cause this problem; we need to be the ones to fix it. Not just for recovery of the housing industry, but to save America."
It's Short Sale Time......cont'd
For-Sale to Sold
Though some agents still face problems with the short sale process, many are successfully overcoming them. One of the biggest glitches is time, Burrell says. "Sometimes this is what can make or break the short sale. Imagine if you were buying a car and you had to wait four months to hear if your offer was accepted. Ridiculous, right? That's what can happen in a short sale."
Burrell says the solution lies in staying on top of the sale, continually working with all parties to keep the process moving, Shauna Werts, head of TriStone Realty Group in Anaheim, California, concurs. "You have to stay a step ahead in the process at all time, " she said, including ensuring payments are made and paperwork is completed and filed on time. OVerlooking any of these key elements can cause deals to completely unravel, she added. Still, despite these challenges, both Burrell and Werts expect short sales will continue to grow and --as Werts emphasized--agents who learn the ins and outs of this sometimes laborious specialty are frequently well-rewarded with hard-earned success.
Though some agents still face problems with the short sale process, many are successfully overcoming them. One of the biggest glitches is time, Burrell says. "Sometimes this is what can make or break the short sale. Imagine if you were buying a car and you had to wait four months to hear if your offer was accepted. Ridiculous, right? That's what can happen in a short sale."
Burrell says the solution lies in staying on top of the sale, continually working with all parties to keep the process moving, Shauna Werts, head of TriStone Realty Group in Anaheim, California, concurs. "You have to stay a step ahead in the process at all time, " she said, including ensuring payments are made and paperwork is completed and filed on time. OVerlooking any of these key elements can cause deals to completely unravel, she added. Still, despite these challenges, both Burrell and Werts expect short sales will continue to grow and --as Werts emphasized--agents who learn the ins and outs of this sometimes laborious specialty are frequently well-rewarded with hard-earned success.
Monday, February 8, 2010
February 2010 - eNewsletter
Stewart HTEN top
Deonna Sheffield
RE/MAX By The Lakes
972-922-6046
1502 W. Kirby, Wylie, TX 75098 Phone: 972-442-1277 Fax: 972-499-2437 RE License #: 0599871
FEBRUARY-2010
Housing Trends eNewsletter is filled with local and national real estate sales and price activity provided by MLSs and the National Association of Realtors, U.S. Census Bureau key market indicators, housing market video reports, blogs, real estate glossary, maps, mortgage rates and calculators, consumer articles, and information on 50,000 neighborhoods.
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OK - Tulsa
TX - Austin
TX - Dallas/Ft. Worth Metroplex
TX - Houston
TX - San Antonio
Daily Real Estate Market Outlook
Economists' Commentaries provide an in-depth look at trends and current news related to housing and the real estate market. Click here
What’s New
National Real Estate Market
Pending Home Sales Stabilize, Remain Above Year-Ago Levels
Washington, February 02, 2010 Pending home sales have leveled from a market swing driven by response to the home buyer tax credit, according to the National Association of Realtors®. More...
December Existing-Home Sales Down but Prices Rise; 2009 Sales Up
Washington, January 25, 2010 After a rising surge from September through November, existing-home sales fell as expected in December after first-time buyers rushed to complete sales before the original November deadline for the tax credit. However, prices rose from December 2008 and annual sales improved in 2009, according to the National Association of Realtors®. More...
Realtors® See a Decade of Dramatic Developments
WASHINGTON, December 30, 2009 At the beginning of the 21st century, most home buyers had never viewed a home online; the three top home sale marketing methods were yard signs, newspaper ads and open houses; and nearly nine out of 10 buyers financed their purchase with a fixed-rate, 30-year mortgage. What a difference a decade makes. More...
National Real Estate Market Articles Source:NATIONAL ASSOCIATION OF REALTORS®.
This Month’s
Consumer Articles
Exterior Remodeling Proves Best Bang for Your Buck, Realtors® Report
Washington, December 17, 2009 Despite a slow market and a slight decrease in the resale value of most remodeling projects, Realtors® report that the smartest home improvement investments may also be some of the least expensive. Results from the 2009 Remodeling Cost vs. Value Report show that small-scale exterior projects are the most profitable at resale, according to estimates by Realtors® who completed a recent survey. More...
Low-Flow Showerheads: How to Choose
Thanks to innovative new technology, today’s super-efficient low-flow showerheads save water, reduce your energy bills, and still feel good to use. Save Money Med $150/yr off water heating Effort Low 10 mins to 1 hr to install Investment Low $50 to $200 More...
Chimney Maintenance for Warmth and Safety
Chimney maintenance and a fireplace inspection can make the difference between warm safety and drafty danger.
Effort Low 1-2 hrs (inspect/sweep)
Investment Low $125-$205 (inspect/sweep) More...
What is Califonria Chic? I found it in Encino.
Have you considered Encino? Let me WOW! you. I consider this California chic, modern, green, luxurious. Enjoy the eye candy.
Looking for Great Cities to Live with Low Stress, Great Food and More?
American cities attract many desiring a slower pace with all the amenities like good food, cultural events. These sities are across the U.S. More...
National
Housing Indicators
Existing Home Sales
(December)
5.45 millions units*
Existing Home Median Price
(December)
$178,300
Housing Starts
(December)
557,000 units*
New Home Sales
(December)
342,000 units*
*seasonally adjusted annual rate
Source NATIONAL ASSOCIATION OF REALTORS®.
National
Economic Indicators
Homeownership Rate
4th Qtr 09 4th Qtr 08
67.2% 67.5%
The homeownership rate in the fourth quarter 2009 (67.2 percent) was not statistically different from the fourth quarter 2008 rate (67.5 percent). In the South, the homeownership rate was lower than a year ago, while no other region showed any significant change from corresponding fourth quarter 2008 rates.
New Home Sales
Dec 09 Nov 09
-7.6% -9.3%
Sales of new one-family houses in December 2009 were at a seasonally adjusted annual rate of 342,000. This is 7.6% below the revised November 2009 estimate of 370,000
Source U.S. CENSUS BUREAU
Real Estate Sales Statistics
December 2009 Existing Home Statistics
Source: NATIONAL ASSOCIATION OF REALTORS®.
Metropolitan Prices & State Sales
View Prices / % Changes for 159 Cities & Metropolitan Areas
View Single-family Home Prices
View Condo/Co-op Prices
State Home Sales | Total Sales of Single-family and Condo/Co-ops
Housing Affordability Index | Click Here to view details
Mouse over the map to view
Regional Definitions
National Home Sales
Homes
5,450,000 Single Family
4,790,000 Condo/Co-op
660,000
vs. last month: -16.7% -16.8% -15.4%
vs. last year: 15.0% 12.7% 34.7%
Click Here to view details
National Sales Price of Homes
Homes
$178,300 Single Family
$177,500 Condo/Co-op
$183,700
vs. last year: 1.5% 1.4% 1.0%
Click Here to view details
Regional Home Sales
U.S.
5,450,000 Northeast
910,000 Midwest
1,150,000 South
2,010,000 West
1,380,000
vs. last month: -16.7% -19.5% -25.8% -16.3% -4.8%
vs. last year: 15.0% 21.3% 8.5% 15.5% 15.0%
Click Here to view details
Regional Sales Price of Homes
U.S.
$178,300 Northeast
$241,700 Midwest
$143,200 South
$152,000 West
$236,000
vs. last year: 1.5% 3.2% 1.8% -1.0% 2.7%
Click Here to view details
Regional Single Family Home Sales
U.S.
4,790,000 Northeast
660,000 Midwest
1,050,000 South
1,820,000 West
1,260,000
vs. last month: -16.8% -19.5% -25.5% -16.1% -7.4%
vs. last year: 12.7% 15.8% 7.1% 13.8% 14.5%
Click Here to view details
Regional Sales Price of Single-Family Homes
U.S.
$177,500 Northeast
$244,100 Midwest
$141,100 South
$153,800 West
$241,200
vs. last year: 1.4% 2.9% 2.0% -0.5% 2.4%
Click Here to view details
Regional Condo/Co-Op Sales
U.S.
660,000 Northeast
250,000 Midwest
100,000 South
190,000 West
120,000
vs. last month: -15.4% -19.4% -28.6% -17.4% 33.3%
vs. last year: 34.7% 39.7% 25.0% 40.7% 25.0%
Click Here to view details
Regional Sales Price of Condo/Co-ops
U.S.
$183,700 Northeast
$235,500 Midwest
$164,700 South
$134,400 West
$181,600
vs. last year: 1.0% 4.1% -2.8% -9.1% 5.6%
Click Here to view details
If you wish to receive FREE Housing Trends eNewsletter e-mailed to you monthly, click here to Subscribe.
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Copyright© 2009-2010, eFrogPond Inc. All Rights Reserved.
Information contained in this eNewsletter is compiled from a variety of sources. The accuracy and authenticity has not been verified by eFrogPond, Inc., is subject to change, is provided "as is" and is not guaranteed. The views expressed herein do not necessarily reflect those of eFrogPond, Inc. eFrogPond, Inc. makes no representations or warranties of any nature with regard to the privacy and/or business practices of the websites linked from this eNewsletter and is not responsible for any action or lack of action by any linked site whatsoever.
View Housing Trends eNewsletter
Deonna Sheffield
RE/MAX By The Lakes
972-922-6046
1502 W. Kirby, Wylie, TX 75098 Phone: 972-442-1277 Fax: 972-499-2437 RE License #: 0599871
FEBRUARY-2010
Housing Trends eNewsletter is filled with local and national real estate sales and price activity provided by MLSs and the National Association of Realtors, U.S. Census Bureau key market indicators, housing market video reports, blogs, real estate glossary, maps, mortgage rates and calculators, consumer articles, and information on 50,000 neighborhoods.
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ME - Maine
MI - Michigan
NY - Long Island
OK - Tulsa
TX - Austin
TX - Dallas/Ft. Worth Metroplex
TX - Houston
TX - San Antonio
Daily Real Estate Market Outlook
Economists' Commentaries provide an in-depth look at trends and current news related to housing and the real estate market. Click here
What’s New
National Real Estate Market
Pending Home Sales Stabilize, Remain Above Year-Ago Levels
Washington, February 02, 2010 Pending home sales have leveled from a market swing driven by response to the home buyer tax credit, according to the National Association of Realtors®. More...
December Existing-Home Sales Down but Prices Rise; 2009 Sales Up
Washington, January 25, 2010 After a rising surge from September through November, existing-home sales fell as expected in December after first-time buyers rushed to complete sales before the original November deadline for the tax credit. However, prices rose from December 2008 and annual sales improved in 2009, according to the National Association of Realtors®. More...
Realtors® See a Decade of Dramatic Developments
WASHINGTON, December 30, 2009 At the beginning of the 21st century, most home buyers had never viewed a home online; the three top home sale marketing methods were yard signs, newspaper ads and open houses; and nearly nine out of 10 buyers financed their purchase with a fixed-rate, 30-year mortgage. What a difference a decade makes. More...
National Real Estate Market Articles Source:NATIONAL ASSOCIATION OF REALTORS®.
This Month’s
Consumer Articles
Exterior Remodeling Proves Best Bang for Your Buck, Realtors® Report
Washington, December 17, 2009 Despite a slow market and a slight decrease in the resale value of most remodeling projects, Realtors® report that the smartest home improvement investments may also be some of the least expensive. Results from the 2009 Remodeling Cost vs. Value Report show that small-scale exterior projects are the most profitable at resale, according to estimates by Realtors® who completed a recent survey. More...
Low-Flow Showerheads: How to Choose
Thanks to innovative new technology, today’s super-efficient low-flow showerheads save water, reduce your energy bills, and still feel good to use. Save Money Med $150/yr off water heating Effort Low 10 mins to 1 hr to install Investment Low $50 to $200 More...
Chimney Maintenance for Warmth and Safety
Chimney maintenance and a fireplace inspection can make the difference between warm safety and drafty danger.
Effort Low 1-2 hrs (inspect/sweep)
Investment Low $125-$205 (inspect/sweep) More...
What is Califonria Chic? I found it in Encino.
Have you considered Encino? Let me WOW! you. I consider this California chic, modern, green, luxurious. Enjoy the eye candy.
Looking for Great Cities to Live with Low Stress, Great Food and More?
American cities attract many desiring a slower pace with all the amenities like good food, cultural events. These sities are across the U.S. More...
National
Housing Indicators
Existing Home Sales
(December)
5.45 millions units*
Existing Home Median Price
(December)
$178,300
Housing Starts
(December)
557,000 units*
New Home Sales
(December)
342,000 units*
*seasonally adjusted annual rate
Source NATIONAL ASSOCIATION OF REALTORS®.
National
Economic Indicators
Homeownership Rate
4th Qtr 09 4th Qtr 08
67.2% 67.5%
The homeownership rate in the fourth quarter 2009 (67.2 percent) was not statistically different from the fourth quarter 2008 rate (67.5 percent). In the South, the homeownership rate was lower than a year ago, while no other region showed any significant change from corresponding fourth quarter 2008 rates.
New Home Sales
Dec 09 Nov 09
-7.6% -9.3%
Sales of new one-family houses in December 2009 were at a seasonally adjusted annual rate of 342,000. This is 7.6% below the revised November 2009 estimate of 370,000
Source U.S. CENSUS BUREAU
Real Estate Sales Statistics
December 2009 Existing Home Statistics
Source: NATIONAL ASSOCIATION OF REALTORS®.
Metropolitan Prices & State Sales
View Prices / % Changes for 159 Cities & Metropolitan Areas
View Single-family Home Prices
View Condo/Co-op Prices
State Home Sales | Total Sales of Single-family and Condo/Co-ops
Housing Affordability Index | Click Here to view details
Mouse over the map to view
Regional Definitions
National Home Sales
Homes
5,450,000 Single Family
4,790,000 Condo/Co-op
660,000
vs. last month: -16.7% -16.8% -15.4%
vs. last year: 15.0% 12.7% 34.7%
Click Here to view details
National Sales Price of Homes
Homes
$178,300 Single Family
$177,500 Condo/Co-op
$183,700
vs. last year: 1.5% 1.4% 1.0%
Click Here to view details
Regional Home Sales
U.S.
5,450,000 Northeast
910,000 Midwest
1,150,000 South
2,010,000 West
1,380,000
vs. last month: -16.7% -19.5% -25.8% -16.3% -4.8%
vs. last year: 15.0% 21.3% 8.5% 15.5% 15.0%
Click Here to view details
Regional Sales Price of Homes
U.S.
$178,300 Northeast
$241,700 Midwest
$143,200 South
$152,000 West
$236,000
vs. last year: 1.5% 3.2% 1.8% -1.0% 2.7%
Click Here to view details
Regional Single Family Home Sales
U.S.
4,790,000 Northeast
660,000 Midwest
1,050,000 South
1,820,000 West
1,260,000
vs. last month: -16.8% -19.5% -25.5% -16.1% -7.4%
vs. last year: 12.7% 15.8% 7.1% 13.8% 14.5%
Click Here to view details
Regional Sales Price of Single-Family Homes
U.S.
$177,500 Northeast
$244,100 Midwest
$141,100 South
$153,800 West
$241,200
vs. last year: 1.4% 2.9% 2.0% -0.5% 2.4%
Click Here to view details
Regional Condo/Co-Op Sales
U.S.
660,000 Northeast
250,000 Midwest
100,000 South
190,000 West
120,000
vs. last month: -15.4% -19.4% -28.6% -17.4% 33.3%
vs. last year: 34.7% 39.7% 25.0% 40.7% 25.0%
Click Here to view details
Regional Sales Price of Condo/Co-ops
U.S.
$183,700 Northeast
$235,500 Midwest
$164,700 South
$134,400 West
$181,600
vs. last year: 1.0% 4.1% -2.8% -9.1% 5.6%
Click Here to view details
If you wish to receive FREE Housing Trends eNewsletter e-mailed to you monthly, click here to Subscribe.
Click here to Unsubscribe.
Copyright© 2009-2010, eFrogPond Inc. All Rights Reserved.
Information contained in this eNewsletter is compiled from a variety of sources. The accuracy and authenticity has not been verified by eFrogPond, Inc., is subject to change, is provided "as is" and is not guaranteed. The views expressed herein do not necessarily reflect those of eFrogPond, Inc. eFrogPond, Inc. makes no representations or warranties of any nature with regard to the privacy and/or business practices of the websites linked from this eNewsletter and is not responsible for any action or lack of action by any linked site whatsoever.
View Housing Trends eNewsletter
It's Short Sale Time.....cont'd
Setting the Standards
That short sales continue to gain sway is evident in recent comments by industry execs, who give props to HAFA's efforts to standardize what once was a one-size-fits-none mess of paperwork and perplexities that left many wringing their hands in frustration.
Scott Brinkley, EVP of outsourcing and technology solutions at First American Corporation, acknowledges that servicers are now seeing short sales in a new light. "Short sales tend to be the most cost-effective liquidation strategy for servicers and investors. Since the borrower usually participates in the process, the timeline to work through a short sale, compared to a foreclosure sale, is much shorter. And there's less risk of property damage."
Dave Sunlin, a VP at Bank of America, sung its praises in a recent Washington Post article on the HAFA plan: "We're very pleased. We welcome any effort to reach standardization for all parties (involved in short sales)."
That short sales continue to gain sway is evident in recent comments by industry execs, who give props to HAFA's efforts to standardize what once was a one-size-fits-none mess of paperwork and perplexities that left many wringing their hands in frustration.
Scott Brinkley, EVP of outsourcing and technology solutions at First American Corporation, acknowledges that servicers are now seeing short sales in a new light. "Short sales tend to be the most cost-effective liquidation strategy for servicers and investors. Since the borrower usually participates in the process, the timeline to work through a short sale, compared to a foreclosure sale, is much shorter. And there's less risk of property damage."
Dave Sunlin, a VP at Bank of America, sung its praises in a recent Washington Post article on the HAFA plan: "We're very pleased. We welcome any effort to reach standardization for all parties (involved in short sales)."
Thursday, February 4, 2010
The Balancing Act
The Balancing Act
Family, Work, and You
These days, most of us work two jobs – the one that pays, and the one we love (at least most of the time): raising our kids.
On the message boards at iVillage.com, they have great tips on how to make it easier to do both at once. It's also a great place to share advice of your own, and to get support if something's getting you down. And though it's mostly for moms, working dads can find plenty of helpful advice, too.
Here are a few of the best tips for balancing work and family:
Get up before your kids do. Painful, but worth it. Getting that extra 15 minutes of sleep is nothing compared to the calmness you'll feel if you get up and get yourself ready first. Whatever it takes for you: work out, take a shower, get the coffee down your throat. When your act is together, it makes it easier to get their acts together.
Prep ahead. You do it at work, why not do yourself a favor and think a few steps ahead at home, too? This can mean anything from picking out their outfits for the next day before going to bed, to making lunches the night before, to keeping casseroles frozen for fast and easy dinners. A little prep can prevent a mad dash.
Stick to a routine. Whether it's getting dressed in the morning, or eating dinner at night, make sure your kids know what to expect when, and what's expected of them. A lot of melt-downs can be avoided by everyone knowing the plan.
Stay involved with your kids' care. Okay, so you work during the days, but that doesn't mean you can't be an active participant in your kids' daycare or school. If you can't drop in for lunch like stay-at-home parents, maybe you can bring in an activity for the kids, or a snack. Or you can use your work skills to do something for the class – maybe build the kids a little Web site, or else cut out the patterns for a class project. Your kids will feel like you care, and so will the school.
Save some time for you. Make sure when all is said and done that there's some time for you and your partner to be adults together. It can be a lunch date, dinner once a week, or even renting a movie – just build it into the schedule. It'll help you feel better about all the demands on your time. Because if you're not a happy camper, you can't expect the other campers to be happy.
We all have to do what it takes to keep the ship afloat. Hope these tips help to give your ship a little more buoyancy.
Family, Work, and You
These days, most of us work two jobs – the one that pays, and the one we love (at least most of the time): raising our kids.
On the message boards at iVillage.com, they have great tips on how to make it easier to do both at once. It's also a great place to share advice of your own, and to get support if something's getting you down. And though it's mostly for moms, working dads can find plenty of helpful advice, too.
Here are a few of the best tips for balancing work and family:
Get up before your kids do. Painful, but worth it. Getting that extra 15 minutes of sleep is nothing compared to the calmness you'll feel if you get up and get yourself ready first. Whatever it takes for you: work out, take a shower, get the coffee down your throat. When your act is together, it makes it easier to get their acts together.
Prep ahead. You do it at work, why not do yourself a favor and think a few steps ahead at home, too? This can mean anything from picking out their outfits for the next day before going to bed, to making lunches the night before, to keeping casseroles frozen for fast and easy dinners. A little prep can prevent a mad dash.
Stick to a routine. Whether it's getting dressed in the morning, or eating dinner at night, make sure your kids know what to expect when, and what's expected of them. A lot of melt-downs can be avoided by everyone knowing the plan.
Stay involved with your kids' care. Okay, so you work during the days, but that doesn't mean you can't be an active participant in your kids' daycare or school. If you can't drop in for lunch like stay-at-home parents, maybe you can bring in an activity for the kids, or a snack. Or you can use your work skills to do something for the class – maybe build the kids a little Web site, or else cut out the patterns for a class project. Your kids will feel like you care, and so will the school.
Save some time for you. Make sure when all is said and done that there's some time for you and your partner to be adults together. It can be a lunch date, dinner once a week, or even renting a movie – just build it into the schedule. It'll help you feel better about all the demands on your time. Because if you're not a happy camper, you can't expect the other campers to be happy.
We all have to do what it takes to keep the ship afloat. Hope these tips help to give your ship a little more buoyancy.
Wednesday, February 3, 2010
It's Short Sale Time........cont'd part 3......
Push-back not a problem..........
Favorable figures and bottom-line benefits aside, lenders have traditionally been loath to engage in short sales, not wanting to take a financial hit on the front end without knowing what the property is worth. Servicers, too, have faced myriad stumbling blocks. First, there is the complexity of a three-party---or more---negotiation, with buyer-seller-lender/servicer and usually additional or even multiple subordinate lien holders beyond the first one jockeying for position and a piece of the profit pie. There is more paperwork, a longer stream of necessary documentation, and a more involved review process--a slap in the face for clock-crunched loss-mitigation departments. There is the protracted time frame, as short sales have traditionally taken much longer to carry out than regular sales, along with the difficulties of bringing the sale to closing--a balky second-or third -lien holder can put the kibosh on forgiving its portion of the loan, effectively negating the deal. And at the end of this process, the distressed property must be sold as-is. All these difficulties, in addition to asking lenders to accept less than what they're owed, historically have made short sales less than appealing to servicers. But thanks to recently enacted federal initiatives that arm servicers with the tools they need to minimize the logistical hurdles, servicers finally are adding short sales to their residential-mortgage repertoire.
Favorable figures and bottom-line benefits aside, lenders have traditionally been loath to engage in short sales, not wanting to take a financial hit on the front end without knowing what the property is worth. Servicers, too, have faced myriad stumbling blocks. First, there is the complexity of a three-party---or more---negotiation, with buyer-seller-lender/servicer and usually additional or even multiple subordinate lien holders beyond the first one jockeying for position and a piece of the profit pie. There is more paperwork, a longer stream of necessary documentation, and a more involved review process--a slap in the face for clock-crunched loss-mitigation departments. There is the protracted time frame, as short sales have traditionally taken much longer to carry out than regular sales, along with the difficulties of bringing the sale to closing--a balky second-or third -lien holder can put the kibosh on forgiving its portion of the loan, effectively negating the deal. And at the end of this process, the distressed property must be sold as-is. All these difficulties, in addition to asking lenders to accept less than what they're owed, historically have made short sales less than appealing to servicers. But thanks to recently enacted federal initiatives that arm servicers with the tools they need to minimize the logistical hurdles, servicers finally are adding short sales to their residential-mortgage repertoire.
It's Short Sale Time.......cont'd part 2.........
More lenders on board...........
Although the process often can be time-consuming, increasing indusry acceptance of short sales as a viable alternative to foreclosure is helping buoy lender buy-in. Francis Martinez Myers, SVP at Employee Transfer Corporation/ETCREO Management, explanins that short sales will reduce overall costs and produce better financial outcomes for lenders and servicers. In addition, "For the homeowner, it is a little easier on their credit and allows them to manage the exit from the property (versus an eviction) in a way that preserves their dignity." Indeed, short sales have been encouraged as a double means of dodging foreclosure: They result in a less severe loss to the lender, give borrowers the possibility of restoring their credit earlier, and facilitate the sale of the property rather than adding it to the already-saturated REO rolls.
"The banks make 25 percent to 30 percent more money on a short sale than on a foreclosure, so the short sale makes sense, " said Tim Burrell, owner of RE/MAX United in Raleigh, North Carolina. Burrell has spearheaded successful short sales since 1992 and has written the book, Create A Short Sale: Your Guide Through the Short Sale Maze. By and large, short sales are reaching new heights. Treasury figures, for example, showed an increase from 9,402 in second quarter 2008 to 23,102 at the end of second quarter 2009. And those numbers are expected to keep ticking upward.
Although the process often can be time-consuming, increasing indusry acceptance of short sales as a viable alternative to foreclosure is helping buoy lender buy-in. Francis Martinez Myers, SVP at Employee Transfer Corporation/ETCREO Management, explanins that short sales will reduce overall costs and produce better financial outcomes for lenders and servicers. In addition, "For the homeowner, it is a little easier on their credit and allows them to manage the exit from the property (versus an eviction) in a way that preserves their dignity." Indeed, short sales have been encouraged as a double means of dodging foreclosure: They result in a less severe loss to the lender, give borrowers the possibility of restoring their credit earlier, and facilitate the sale of the property rather than adding it to the already-saturated REO rolls.
"The banks make 25 percent to 30 percent more money on a short sale than on a foreclosure, so the short sale makes sense, " said Tim Burrell, owner of RE/MAX United in Raleigh, North Carolina. Burrell has spearheaded successful short sales since 1992 and has written the book, Create A Short Sale: Your Guide Through the Short Sale Maze. By and large, short sales are reaching new heights. Treasury figures, for example, showed an increase from 9,402 in second quarter 2008 to 23,102 at the end of second quarter 2009. And those numbers are expected to keep ticking upward.
It's Short Sale Time...........
Could the New Treasury Program Help This Foreclosure Alternative Run Like Clockwork?
An all-too common outcome in the housing industry today, foreclosure is a fact of life for defaulting homeowners who are saddled with mounting mortgage bills --and seemingly no other way to dig themselves out of debt. There may be a glimmer of hope, though, on the horizon, thanks to meaningful procedural changes to short sales that may eventually help ease this onerous situation for borrowers, servicers, and lenders alike.
With distressed property sales accounting for 40 percent of U.S. home sales in 2008, and the resulting logjam this has created for banks and servicers trying to address the glut of problem properties on the market, short sales --once resisted by banks --are gaining firm traction and positive attention.
Dave Liniger, chairman of the board at RE/MAX, said the short sale process has been cumbersome for all involved. "The vast majority of the real estate agents have not been properly trained to understand the actual process; the lenders have been overwhelmed with the sheer volume of the inventory; and the investors have not trusted the process, " he explained. But, he says the new guidelines issued November 30, "will add structure, policies, and procedures to the process." He predicts that short sale transactions will increase dramatically, leaving neighborhoods across the country with fewer vacant and vandalized properties.
Gerald B. Alt, president and CEO of HEART Financial Services, LLC, said "Short sales and deeds-in-lieu have to happen. The majority of moratoriums are finished, so these are one of the only options left for borrowers who don't qualify for a modification or refinance."
So will short sales become the savior of the housing crisis, helping emancipate masses of homewoners from the throes of foreclosure? While it's still too soon to tell exactly how much short sales will increase in the coming years, according to industry insiders, short sales very well could help alleviate many of the ills plaguing the servicing sector.
An all-too common outcome in the housing industry today, foreclosure is a fact of life for defaulting homeowners who are saddled with mounting mortgage bills --and seemingly no other way to dig themselves out of debt. There may be a glimmer of hope, though, on the horizon, thanks to meaningful procedural changes to short sales that may eventually help ease this onerous situation for borrowers, servicers, and lenders alike.
With distressed property sales accounting for 40 percent of U.S. home sales in 2008, and the resulting logjam this has created for banks and servicers trying to address the glut of problem properties on the market, short sales --once resisted by banks --are gaining firm traction and positive attention.
Dave Liniger, chairman of the board at RE/MAX, said the short sale process has been cumbersome for all involved. "The vast majority of the real estate agents have not been properly trained to understand the actual process; the lenders have been overwhelmed with the sheer volume of the inventory; and the investors have not trusted the process, " he explained. But, he says the new guidelines issued November 30, "will add structure, policies, and procedures to the process." He predicts that short sale transactions will increase dramatically, leaving neighborhoods across the country with fewer vacant and vandalized properties.
Gerald B. Alt, president and CEO of HEART Financial Services, LLC, said "Short sales and deeds-in-lieu have to happen. The majority of moratoriums are finished, so these are one of the only options left for borrowers who don't qualify for a modification or refinance."
So will short sales become the savior of the housing crisis, helping emancipate masses of homewoners from the throes of foreclosure? While it's still too soon to tell exactly how much short sales will increase in the coming years, according to industry insiders, short sales very well could help alleviate many of the ills plaguing the servicing sector.
Sunday, January 24, 2010
Gorgeous Home for Sale! Don't miss this Beauty!
510 Branchwood Dr.
Midlothian, TX 76065
Gorgeous, Updated Model Home for Sale!
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Deonna Sheffield
Office: 972-442-1277
Mobile: 972-922-6046
Price : $160,000
Bedrooms : 4
Bathrooms : 2
Square Foot : 2,261
Lot Size : 9,016 sq.ft.
County : Ellis
Property Type : Detached
Year Built : 2002
MLS Number : 11323402
click for more information and pictures
Property Description
Breath taking 4 Bedroom, 2 Full Bathroom, 2 Car Garage model home with all the bells and whistles. Beautiful driveup including gorgeous landscaping and eye catching entry of laminate hard wood flooring throughout. Includes open floor plan with beautiful, spacious kitchen and 2nd living area. Comes complete with eat in kitchen, breakfast bar, island and formal dining area. Master comes complete with his and her closets, his and her vanities, seperate shower and large garden tub. Lots of room and storage throughout entire home including shelving and workspace in the garage. You won't find a more beautiful home than this. It has EVERYTHING! Must See!!
Features List
# 2 living areas
# 2 dining areas
# swing driveway
# Open floorplan
# 4 bedrooms
# 2 bathrooms
# laminate wood floors
# ceramic tiled floors
# carpet
# security system
# sprinkler system
# model home
# updates
# spacious
# his and her closets
# his and her vanities
# seperate shower
# garden tub
# breakfast bar
# kitchen island
# skylights
Equal Housing Opportunity.
RE/MAX By The Lakes : 1502 W. Kirby - Wylie TX 7509
Wednesday, January 20, 2010
Economy/housing industry to get worse??
I received this in my email and felt it informative to post here;
FHA just gave the go ahead to flip houses to FHA buyers. Why do you think that is? Perhaps they know things are going to get worse, so they need to start moving more inventory (properties) ASAP.
Here's why:
#1 While the subprime crisis may be showing signs of stabilizing, the ARM crisis is just beginning to rear its ugly head.
According to one business journalist:
"The big wave of Option ARM resets has yet to come, and given the drop in home prices, refinancing won't be realistic."
#2. Municipal Defaults:
yep, local towns and counties are feeling the pinch with foreclosures and tax defaults draining their coffers. And when a town goes broke, it will put their resident's property even further underwater.
#3. Commercial Real-Estate Collapse:
The second largest chain of malls has already declared bankruptcy. Obligations needing refinancing in the commercial market are in the trillions. And most of them, even with positive cash flows, are as underwater as residential mortgages. As these businesses crash, they will cause even more unemployment.
#4. Loan modifications aren't working.
Unless and until there is meaningful principal reduction, most people getting a loan modification will stop making their payments if they are $100,000+ upside down on their home. And there are A LOT of people upside down. Look for lots of "jingle mail," where the homeowner just sends back the keys, in 2010.
Look, you can either be a victim or victor of this economy!!
Whether you have a mortgage and/or debt in general, getting out of debt is what everyone should be doing. Thats our specialty. We help everyday people who have their income, debts, expenses and at least making $1 more than they are spending each month. Contact me for more details and a free analysis as to what we can do for you!
Check out this TESTIMONIAL from a loan officer.
FHA just gave the go ahead to flip houses to FHA buyers. Why do you think that is? Perhaps they know things are going to get worse, so they need to start moving more inventory (properties) ASAP.
Here's why:
#1 While the subprime crisis may be showing signs of stabilizing, the ARM crisis is just beginning to rear its ugly head.
According to one business journalist:
"The big wave of Option ARM resets has yet to come, and given the drop in home prices, refinancing won't be realistic."
#2. Municipal Defaults:
yep, local towns and counties are feeling the pinch with foreclosures and tax defaults draining their coffers. And when a town goes broke, it will put their resident's property even further underwater.
#3. Commercial Real-Estate Collapse:
The second largest chain of malls has already declared bankruptcy. Obligations needing refinancing in the commercial market are in the trillions. And most of them, even with positive cash flows, are as underwater as residential mortgages. As these businesses crash, they will cause even more unemployment.
#4. Loan modifications aren't working.
Unless and until there is meaningful principal reduction, most people getting a loan modification will stop making their payments if they are $100,000+ upside down on their home. And there are A LOT of people upside down. Look for lots of "jingle mail," where the homeowner just sends back the keys, in 2010.
Look, you can either be a victim or victor of this economy!!
Whether you have a mortgage and/or debt in general, getting out of debt is what everyone should be doing. Thats our specialty. We help everyday people who have their income, debts, expenses and at least making $1 more than they are spending each month. Contact me for more details and a free analysis as to what we can do for you!
Check out this TESTIMONIAL from a loan officer.
Tuesday, January 12, 2010
SFR Certified
FOR IMMEDIATE RELEASE:
Deonna Sheffield
RE/MAX By The Lakes
972-922-6046
972-442-1277
Deonnasheffield@remax.net
http://deonnasheffield1.point2agent.com/
Deonna Sheffield Earns NAR Short Sales and Foreclosure Certification
Buyers and Sellers Benefit from REALTOR® Expertise in Distressed Sales
Wylie, TX, 12/28/2009 — Deonna Sheffield with RE/MAX By The Lakes has earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS® offers the SFR certification to REALTORS® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.
According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures. For many real estate professionals, short sales and foreclosures are the new “traditional” transaction. REALTORS® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.
“As leading advocates for homeownership, REALTORS® believe that any family that loses its home to foreclosure is one family too many, but unfortunately, there are situations in which people just cannot afford to keep their homes, and a foreclosure or a short sale results,” said 2009 NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Foreclosures and short sales can offer opportunities for home buyers and benefit the larger community, as well, but it’s extremely important to have the help of a real estate professional like a REALTOR® who has earned the SFR certification for these kinds of purchases.”
The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk, and provides resources to help REALTORS® stay current on national and state-specific information as the market for these distressed properties evolves. To earn the SFR certification, REALTORSÒ are required to take one core course and three Webinars. For more information about the SFR certification, visit www.REALTORSFR.org or call 1-877-510-7855.
# # #
Thursday, January 7, 2010
Freezing Weather Alert
Freezing Weather Alert
Protect Your Home and Your Listings
With the freezing temperatures forecast for the next few days dfwREALTORS.com - MetroTex wants to remind you to protect your home and advise your clients to do the same. Frozen water in pipes leads to pipes bursting at their weakest point and can cause incredible damage to a residence. Pipes in attics, crawl spaces and outside walls are particularly vulnerable to freezing in extremely cold weather, where holes in your house’s outside wall for television, cable or telephone lines allow cold air to reach them. An eighth-inch crack in a pipe can leak up to 250 gallons of water a day. By taking a few simple precautions, you and your clients can save yourselves the mess, money and aggravation frozen pipes can cause.
To keep water in pipes from freezing, take the following steps:
Wrap outdoor pipes in newspapers or insulation and cover with plastic.
Insulate pipes in your home's crawl spaces and attic. These exposed pipes are most susceptible to freezing. The more insulation you use, the better protected your pipes will be.
Heat tape or thermostatically-controlled heat cables can be used to wrap pipes.
Seal leaks that allow cold air inside near where pipes are located. Look for air leaks around electrical wiring, dryer vents and pipes. Use caulk or insulation to keep the cold out and the heat in. With severe cold, even a tiny opening can let in enough cold air to cause a pipe to freeze.
Disconnect garden hoses and, if possible, use an indoor valve to shut off and drain water from pipes leading to outside faucets. This reduces the chance of freezing in the short span of pipe just inside the house. If you don't have a separate valve to turn off outside water, wrap or cover faucets or hose bibs with an insulating material.
Letting a faucet drip during extreme cold weather can prevent a pipe from bursting. Opening a faucet will provide relief from the excessive pressure that builds between the faucet and the ice blockage when freezing occurs. A dripping faucet wastes some water, so only pipes vulnerable to freezing (ones that run through an unheated or unprotected space) should be left with the water flowing.
Open cabinet doors to allow heat to get to pipes under sinks and appliances near exterior walls.
Protect Your Home and Your Listings
With the freezing temperatures forecast for the next few days dfwREALTORS.com - MetroTex wants to remind you to protect your home and advise your clients to do the same. Frozen water in pipes leads to pipes bursting at their weakest point and can cause incredible damage to a residence. Pipes in attics, crawl spaces and outside walls are particularly vulnerable to freezing in extremely cold weather, where holes in your house’s outside wall for television, cable or telephone lines allow cold air to reach them. An eighth-inch crack in a pipe can leak up to 250 gallons of water a day. By taking a few simple precautions, you and your clients can save yourselves the mess, money and aggravation frozen pipes can cause.
To keep water in pipes from freezing, take the following steps:
Wrap outdoor pipes in newspapers or insulation and cover with plastic.
Insulate pipes in your home's crawl spaces and attic. These exposed pipes are most susceptible to freezing. The more insulation you use, the better protected your pipes will be.
Heat tape or thermostatically-controlled heat cables can be used to wrap pipes.
Seal leaks that allow cold air inside near where pipes are located. Look for air leaks around electrical wiring, dryer vents and pipes. Use caulk or insulation to keep the cold out and the heat in. With severe cold, even a tiny opening can let in enough cold air to cause a pipe to freeze.
Disconnect garden hoses and, if possible, use an indoor valve to shut off and drain water from pipes leading to outside faucets. This reduces the chance of freezing in the short span of pipe just inside the house. If you don't have a separate valve to turn off outside water, wrap or cover faucets or hose bibs with an insulating material.
Letting a faucet drip during extreme cold weather can prevent a pipe from bursting. Opening a faucet will provide relief from the excessive pressure that builds between the faucet and the ice blockage when freezing occurs. A dripping faucet wastes some water, so only pipes vulnerable to freezing (ones that run through an unheated or unprotected space) should be left with the water flowing.
Open cabinet doors to allow heat to get to pipes under sinks and appliances near exterior walls.
Sunday, January 3, 2010
Saturday, January 2, 2010
Happy New Year
Make the most of 2010! The past is the past, the present is the present and the future is what we make of it. Move forward, have a plan and have a great, positive outlook and things will be great! Happy 2010!!!
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