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!
Thursday, February 11, 2010
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.
What's Happening in Local Markets?
Click on a local market for an Area Market Report for regional and city real estate sales and price activity.
Select Local Area Market
AZ - Tucson
CA - Inland Empire
CA - Los Angeles
CA - Northern Bay Region
CA - Pleasanton and Alameda County
CA - Silicon Valley
CA - Southern California
CT - Connecticut
DC - Washington, DC & Baltimore
FL - Fort Lauderdale
FL - Manatee County
FL - Miami
FL - Northeast Florida
FL - Sarasota
FL - Tampa Bay
IL - Chicago
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
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.
What's Happening in Local Markets?
Click on a local market for an Area Market Report for regional and city real estate sales and price activity.
Select Local Area Market
AZ - Tucson
CA - Inland Empire
CA - Los Angeles
CA - Northern Bay Region
CA - Pleasanton and Alameda County
CA - Silicon Valley
CA - Southern California
CT - Connecticut
DC - Washington, DC & Baltimore
FL - Fort Lauderdale
FL - Manatee County
FL - Miami
FL - Northeast Florida
FL - Sarasota
FL - Tampa Bay
IL - Chicago
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)."
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