April Is Fair Housing Month, For Good Reason

April Is Fair Housing Month, For Good Reason

"How Home Buyers Use Technology" by Mark K. Hicks

How Home Buyers Use Technology by Mark K. Hicks When searching for a real estate agent, make sure he or she is tech savvy. You are. The point person in your quest for your dream home should be packing the latest technology too. Check the stats compiled by MountainSeed Appraisal Management in Atlanta, GA. •A vast majority, 90 percent of home buyers use the internet to kick off their search for housing. •Home buyers today are mobile. They aren’t just sitting at a desk, online looking for a home. Mobile applications are also a weapon of choice. •Nearly 30 percent are smart phone home shopping while waiting in line; 27 percent are searching over dinner and 26 percent are guests at someone’s home and likely just bored stiff. •On average a person conducts 11 digital searches before making another move, like calling in an agent, attending an open house or otherwise 3-Ding their search. •Agents in certain states have a greater need to get with the digital thing. The states with the highest number of online queries for first time home buyers are Delaware (The First State is first); Louisiana (it can get pretty muggy traipsing around); Mississippi (ditto); South Dakota (there’s just too much to walk around); and Wyoming (ditto). "I think it is important to note that not only are home buyers using technology more than ever, but also home owners. When possible, many are looking at refi rates, paying their mortgage payment by smart phone, or simply perusing their mortgage statement," said David Craig, vice president of sales at CEDAR Document Technologies an Atlanta, GA-based communications technology company. Craig added, "it is also important to note that ‘mobile’ doesn’t necessarily mean a borrower is on the move. Many people today opt for their (smart) phone while sitting at home before ever opening a laptop or using a desktop computer.”

"Housing Market Healing with Stable Mortgage Rates" by Ed Ferrara

Housing Market Healing With Stable Mortgage Rates by Ed Ferrara With a housing recovery that is gaining momentum, the importance of where mortgage rates are now and where they will be heading becomes a significant factor. The inception of QE3 by the Federal Reserve in September 2012 has helped keep mortgage rates down which accelerated the housing market during the final quarter of last year. Realty Times is offering a free service to bring additional exposure and publicity to your listings with a full press release. CLICK HERE Last week, the January Federal Reserve meeting minutes were released and revealed that QE3 may end sooner than expected since there is concern about the costs of the program, as well as the risks involved. At this point in time, it is unknown where mortgage rates will head if QE3 is minimized or even ended. Currently, the housing market has been healing with the help of stable mortgage rates which have been at or near historic lows. Low mortgage rates are especially necessary at this time for both home purchases which keeps affordability high, and refinances which puts money back into the pocket of homeowners. According to the recent Freddie Mac's Primary Mortgage Market Survey, average fixed rates had a small increase, but have seen little change over the past four weeks. According to Frank Nothaft, Vice President and Chief Economist of Freddie Mac, "Mortgage rates have been relatively stable, hovering near record lows, for the past four weeks which is helping to spur new home construction. For instance, new construction on single-family houses rose to an annualized rate of 613,000 in January, the most since July 2008. In addition, single-family building permits were up to the highest issuance level since June 2008." According to the most recent survey of wholesale and direct lenders done by FreeRateUpdate.com, conforming 30 year fixed rates rose slightly this week by .125% and are now as low as 3.250%. Current 15 year fixed mortgage rates are as low as 2.375% and 5/1 adjustable mortgage rates are as low as 2.375%, both remaining the same. Low mortgage rates are available for borrowers who have maintained a history of good credit and can meet qualification guidelines. The Federal Housing Finance Agency (FHFA) released the November 2012 Refinance Report which showed that Fannie Mae and Freddie Mac, reached a new milestone with nearly 2 million HARP refinances. In November alone, approximately 130,000 homeowners refinanced through the HARP program which made it the second highest volume month in 2012. Between the period January and November 2012, nearly 1 million mortgages were refinanced with HARP loans which accounted for more than the volume that occurred in any single year since the program's inception. According to the report, record low mortgage rates and enhancements to the HARP refinance program are responsible for the continued high volume and success of HARP. The National Association of Realtors Existing Home Sales index reported that sales of existing homes rose 0.4% to a 4.92 million annual rate which is 9% higher than the same time last year. Home prices also increased 12.3% which was the biggest gain since January 2005. At the same time, inventory is down to approximately a four month supply and at the lowest level since 1999. First time home buyers often purchase existing homes with FHA mortgages due to the low down payment requirement and low interest rates. Current FHA 30 year fixed mortgage interest rates are as low as 3.250%, FHA 15 year fixed mortgage rates are as low as 2.750% and FHA 5/1 adjustable mortgage rates are as low as 2.250%. There is expected to be an increase in FHA mortgage applications in the next month prior to the rise in the annual mortgage insurance premium scheduled to begin April 1st. While FHA has been undergoing some changes to new originations in order to reduce its' risk, the FHA streamline refinance is still available for an easy and quick move to a better mortgage. With no cash out, the FHA streamline does not require an appraisal, a credit history or other documentation. Borrowers who have loans that were endorsed prior to June 1, 2009 have until the end of 2013 to refinance with the FHA streamline program to receive reduced upfront and annual mortgage insurance premiums. Current jumbo 30 year fixed mortgage rates are as low as 3.375% and jumbo 15 year fixed mortgage rates are as low as 2.700%. Decreasing by .125%, jumbo 5/1 adjustable mortgage rates are now as low as 2.375%. Excellent credit and strong qualifications are required in order to receive low jumbo rates. Even though the FHA loan limit is high enough for many borrowers to use this form of financing, many will be turning back to traditional jumbo mortgages when the insurance premium increases in April. Also to be considered is that coming in June, homeowners will no longer be able to cancel the FHA mortgage insurance premium when the loan to value reaches 78%, but will be paying MIP for the life of the loan. These changes will send many consumers back to regular jumbo loans provided they can qualify. Jumbo mortgages are known to have stricter guidelines due to the large amount of financing. Mortgage backed securities (MBS) are affected by market conditions and economic data. This weeks economic data included the following January PPI increased 0.2% from December which was below expectations of 0.3%; Core PPI, which is minus food and energy, also rose 0.2% which matched consensus; January CPI remained unchanged from December which was below expectations of 0.1%; Core CPI, excluding food and energy, increased 0.3% and was above expectations of 0.2%. Jobless Claims increased by 20,000 to 362,000 for week ending February 16th, according to the Labor Department. The Department of Housing and Urban Development (HUD) together with the Commerce Department released the January 2013 Construction Report today which shows that Building Permits hit the highest level since mid 2008. Permits for privately owned housing units increased 1.8% from December and 35.2% from January 2012; housing starts for single family homes in January were up 0.8% above December.

"Right Mindset + Right Action = Success" by Dr. Maya Bailey

Real Estate Marketing Strategies: Right Mindset + Right Action = Success by Dr. Maya Bailey Have you ever felt that one part of you is "gung-ho" about success and creates all these action steps for you to do each day, while another part of you is resisting, procrastinating and sometimes even rebelling at what you set out to do? That part is called your "inner rebel" or "inner resistance". In fact, that part is your subconscious mind. It's the part of you that is below the surface and you don't see it. You're like the Titanic, floating along, thinking that all is well when suddenly you hit a iceberg (your subconscious mind) and you start to feel stuck. Have you ever felt that before? Have you ever noticed that you get close to success and then hold back? Or you achieve success but then sabotage it? The conflict is between your conscious mind which is saying, "I want to be successful" and your subconscious mind which is saying, "I'm afraid to be successful" or "if I try, I'll fail". Why would you want to block success from coming to you? Why would your subconscious mind be doing that? The answer is, it all depends on you. Everyone has their own individual blocks about success. Perhaps your particular block is that you have a fear of success. Your subconscious mind is programmed to think that if you are successful, you will be overwhelmed and you will lose the balance in your life. As long as that belief is in existence and you're unaware of it, then it will block you from forward progress. The classic fear of success is this: "To be successful I will have to work long hard hours, struggle and sacrifice." Who would want that? Another place where you have self-limiting beliefs and probably don't know it is in prospecting. You tell yourself things like this, "I just don't have time to prospect," or "people don't want to hear what I have to say." Instead, what's really going on is that you have never looked at and worked through your hidden Self-limiting beliefs such as: •If I pick up the phone and call people, I'll be rejected. •If I call up people, they will disapprove of me. •Prospecting is begging. These beliefs are in your blind spot and no one has taught you how to reprogram your subconscious mind. If you're carrying any self-limiting beliefs at all, then your mindset is anti-success instead of pro-success, and success will always elude you. Your Beliefs Create Your Reality. So if you have beliefs like "there is never enough money", then you will subconsciously create circumstances in which you never have enough money. Now what you probably ask yourself is, "How can I get the RIGHT MINDSET?" It really comes down to one thing. You need to reprogram your self-limiting beliefs. Once you have eliminated your self-limiting beliefs, then you can install your updated EMPOWERED beliefs. Let me give you some examples: In the category of "Self" your old beliefs would be replaced with updated beliefs like: •I am more than good enough. •I have all it takes to succeed. •I am worthy of success. •I am perfectly imperfect like everyone else. Can you see how these beliefs help you? In the category of "Beliefs about success" you would update your beliefs with: •I create success with ease •I create success by working smarter not harder •I create success balance in my life In the category of beliefs about prospecting, your new beliefs would be: •I have a valuable service to offer and people are happy to hear from me. •I approach every prospecting call with the mindset that I am the giver. In the category of "Beliefs about money" your updated beliefs could be: •There's always an abundance of money in the universe. •I deserve to receive an abundance of money. •I am a magnet for money. Notice how you feel now that you've begun to install new EMPOWERED BELIEFS into your mind. To make them stick, you need to practice them every day. So far, I have been talking about how to acquire a RIGHT MINDSET. You also need to have the right action. In order for it to be the RIGHT ACTION, it must be an action that is designed to create a win-win situation. I want to re-emphasize that the first things you should be thinking about when you take action is your mindset and your emotions. Rather than being fearful, be excited. Get excited and enthusiastic about how you're going to help your clients with their real estate needs. If you have a lot of listings right now but they're not selling, then get creative, think outside the box, create meetings with your clients, and express to them how much you want help them. Ask questions and get curious about their motivation. Find out more about them, you'll be able to think more clearly about the action that is needed in order for their home to sell. If you've established a good rapport, they will be more likely to take your advice, once they know you are on their side. Once again it comes back to the fact the you need to come from "contribution". People can feel that and then they want to cooperate with you. That's how a win-win is created. Come from your heart, say you can help them, and they will cooperate. The result is that you receive a generous check with your name on it. Here is an empowered belief that I suggest you do frequently: "I do work I love and I am richly rewarded." Assuming you have healthy boundaries with your clients and you're not trying to become their best friend, what you need to do is become their best real estate consultant. So how do you sell yourself on yourself? You take a good hard look at your gifts and your talents and what you offer people in every transaction. Focus on your strengths. It is definitely necessary that you "toot your own horn" if you want to generate business. This doesn't mean you have to be loud or obnoxious, you can do this in a very subtle way. It's an attitude you carry about yourself as a real estate agent. Are you proud of the work you do? Then when you're given an opportunity describe what you do, that's when you can "toot your own horn". I know for some of you, this will rub up against your old Self Limiting Beliefs, such as: •If I speak well about myself that I'm bragging. •If I think that I'm better than others then I'm conceited. •If I toot my own horn, I'll be judged. Let me be very clear that everything I just said and all three of these beliefs are coming from your subconscious mind and none of them are true. They are just beliefs and beliefs can be changed. The truth is that it is safe to be visible and to give up the old strategy of hiding. Hiding is not "RIGHT ACTION". Hiding never helped anybody succeed. To summarize; you could be highly trained and prospecting but unless you have gotten rid of all of your self-limiting beliefs, you probably aren't prospecting the way you should. The next thing to note is that prospecting is a set of skills, and unless you know that set of skills, you will not be successful in prospecting. In other words, you could be clear of self-limiting beliefs and still not be able to prospect. In other words, you need a script from which you can improvise. It's easy to acquire the skills and once you reprogram your self-limiting beliefs, it's easy to implement these skills. Basically you need follow the formula that Right Mindset + Right Action = SUCCESS, which is your formula for success in prospecting and in business in general. The third thing you need to know about taking RIGHT ACTION is that you need to come from a place of "contribution" because if you don't, you will see people as dollar signs and they will feel it and that will repel business. RIGHT MINDSET + RIGHT ACTION= SUCCESS.

"Ready For Action Instead of Re-acting?" - by PJ Wade

Ready For Action Instead of Re-acting?


by PJ Wade

Are you "on pause" until interest rates start to rise?





Realty Times is offering a free service to bring additional exposure and publicity to your listings with a full press release. CLICK HERE



When rates begin to nudge up, will you scramble to gain every 1/4% you can when renewing your existing mortgage? Or, will you hit the open-house circuit at a run, searching for a new home or your first real estate, so you can squeeze into the largest-possible mortgage before rate increases shut you out?



"Last minute" is how we do many things financial - income tax, registered retirement savings plans, investing, credit card debt, student loans, wills, succession planning….



How's that "don't think ahead" strategy working for you? Has it saved you money, gotten you the best deals, and kept you out of the 164%-household debt category?



The business of life is a reality.



Your choice:



1.Either invest time and effort learning how to beat the system that feeds off consumers, so you can consistently come out ahead and enjoy life, or

2.Suffer the consequences as part of the 99% of income earners who matter less and less to governments, corporations, banks, and other groups that are expensive to deal with.

Are you really too busy with your smartphone, reality shows, Facebook, or your home theatre to invest time in your financial future? This is not about being filthy rich—just having enough money to give you choice, whatever the future throws at you. Leave this 'til the last minute and you may have a future focused on searching for enough money.



So, back to mortgage renewal… This is a great example of how to think smart and keep more of what you make and spend less of what you don't have.





•Interest rates have been low for ages, and can't get much lower. But they can and will go up. Banks can, and have, raised mortgage rates before the Bank of Canada has made a move. Expect more of this as there is just too much proft-driving mortgage debt and potential mortgage debt from first-time buyers for lenders to hold off raising rates, adding fees, and cashing in.



•Mortgage borrowing rules keep changing, but not in favour of consumers. Yes, the government makes changes "for our own good" - to protect us from our selves we're told - but scrape the surface and benefits seem directed elsewhere.



•Contributions from Financial Literacy initiatives are not evident on a grand scale yet, but there's an ongoing consumer-protection theme in media, online and off, that is encouraging. For example, the Friday, January 25, 2013 episode #15 of CBC's Marketplace concentrated on "Busting the Banks" and included a segment - "collateral damage" - on the more-restrictive collateral mortgages and stirred up some controversy. (The other items in the program may be eye-openers for you, too.) My suggestions? Watch this episode. Then learn what mortgage brokers say to each other about this Marketplace episode and how consumers are treated when it comes to renewal rights and related issues. The comments and candour of CanadianMortgageTrends.com bloggers and mortgage brokers Melanie & Rob McLister and their contributors makes captivating reading for "outsiders" like most consumers. Let us know what you think.



•Check your mortgage document (or have the lender show you where the explanations are) and find out what restrictions and advantages exist for you on renewal. Can you shop around for the best rate and terms, or do you have a collateral mortgage which restricts your choices?



•Then talk to mortgage brokers and see what they say your choices are.

•These financial professionals have the knowledge and contacts to offer a range of choices across a variety of lenders. They are trained to analyze alternatives and demonstrate benefits and pitfalls, so you can make informed choices. Disclosure of conflict of interest is an essential standard.

•When you go to the bank, you are told what bank employees are told to tell you, and sold what the bank has to sell. Your choice really lies in where you get your information and who you decide to have work in your best interest.



•What you don't know will come back to bite you since consumers only win when they and their independent advisors are vigilant. For instance, lines of credit can be easier to arrange and to manage than traditional mortgages, but the lender retains the right to end the line of credit under a set of circumstances which may not suit your plans. Many property owners were caught off guard when their lines of credit were reduced after age 65 or after an income drop. While specified in the contract, borrowers did not know this set of lender rights existed.

Where will you go from here? Ready to push the pause button to start the real action? Remember, this is action - preparing, not waiting - to learn what your options are, not a rush to "last minute" re-action.



Published: February 5, 2013



Ready For Action Instead of Re-acting?

Tis The Season!

Tis The Season to Stay On The Market by Kim Clark

Tis the Season to deck the halls and trim the tree, but beware that you don't go too far if your home will be staying on the market through the season.

Many begin to wonder if leaving their home on the market through the holiday season is a good decision. The overall opinion of most Realtors is yes. The reasons for this thought-process are many.

For starters, buyers looking for a home during the six weeks between Nov. 15 and Jan. 1 are generally extraordinarily committed buyers. Chances are that they are preparing for a change in job that will require a move out-of-state. Others may be entertaining the idea of coming to the area and find the holidays the perfect time to scope out the neighborhood. Finally others are attempting to make a large purchase before the New Year for the tax benefit.

Now that you know the commitment level of the buyers, you need to know how to draw them in, and keep them hanging around long enough to make an offer.

Curb appeal does wonders for drawing them in. A multi-layered holiday display complete with Santa on the roof, Frosty on the lawn and multi-colored blinking lights is not recommended; however, a simple pinecone wreath and clean and clear walkways will be considered inviting.

Once they get over the threshold, sellers can keep potential buyers touring by making the home appealing. Make sure your home smells good, as smell is one of the strongest human memories. Mulled cider on the stove, complete with cookies and cups and a sign that reads, "help yourself," will likely keep the potential buyer in the kitchen long enough for them to notice the color of the countertops and the cozy feeling ˆ all the better for them to feel at home.

You also want to make the home light, as the days are dark, and folks are likely to be touring after sunset. If you have a fireplace, light it, and remember to drape pretty throws over the back of chairs to further enhance the feeling of hominess.

It's okay to decorate the interior of your home, but try not to go overboard. A small tree or menorah is fine, but statues of Jesus and Mary or a large menorah in the center of the room may be a turnoff to some. Better to leave the massive decorations for another year.

Now the committed buyer is ready to really tour the house. Make sure, if you have animals, that there is no lingering smell from cat litter or other problems, and be sure to keep each room tidy. After that, it's a matter of your home selling itself ˆ a much more likely scenario than you may think during the busy holiday season.

Waste Not, Want Not!

Green Living: Making it Last by Carla Hill

We live in a disposable society. The products that fill our daily lives are used and discarded. This habitual "use and lose" puts a dent in not only our pocketbooks, but also in the environment.

According to Cleanair.org, every year Americans throw away enough paper and plastic cups, forks, and spoons to circle the equator 300 times. Yes, 300 times.

This is just the tip of the trash iceberg. Parents all across the nation gird the loins of their joyful little cherubs with disposable diapers.

Cleanair notes, "Disposable diapers are the third largest single consumer item in landfills, and represent about 4% of solid waste. In a house with a child in diapers, disposables make up 50% of household waste." In addition, these diapers take hundreds of years to decompose and cost thousands of dollars to use.

Plus, the oil used to produce those dandy disposables is more oil than used during the lifetime use of your car!

The EPA reports that in 2010, American generated about 250 million tons of trash, with just a 34.1 percent recycling rate. What is being tossed that could be repurposed, reused, or revisioned?

Learning to reduce, reuse, and recycle is a great way to cut down on household expenses, something that many homeowners are searching out.

There's a honorable movement spreading across the nation bent on saving money and preserving the environment.

The new book Make it Last: Prolonging and Preserving What We Love bridges the gap between life in a disposable culture and the basic skills needed to save money and live more sustainably. This book teaches the reader how to extend the lives of the things they love by repairing clothing, preserving home-grown food, and even repairing your kitchen sink.

Raleigh Briggs takes her longtime commitment to community building through the DIY movement and shares her valuable experience with the reader through a conversational tone in her hand drawn and illustrated guide.

"People are starting to realize not only that they can do this stuff, but that it's fun and fulfilling to boot." says Briggs. "Whenever you think about the choices you're making, you're doing a good thing."

Verbicide Magazine described it as "a Gideon Bible-like manual that should be heavily circulated to people who are just scraping by in life. Her pragmatic approach to taking back your home is what makes this book so appealing."

Save money while saving the planet. That's some noble work!

Published: November 29, 2012 realtytimes.com