Twitter Changing the World????

Is anyone besides me amazed at what is happening in Iran? The government would like to hide the people's reactions from the rest of the world, but because of technology, their country is "transparent". I was watching Rachel Maddow last night and other news outlets and was so proud of the Iranian people finding ways to have their voices heard. Today's NY Times printed an article, Social Networks Spread Iranian Defiance Online. From Twitter to youtube to private blog sites, Iranian protests are given relevance.
If you haven't begun your trip into the 21st century and introduced yourself to social media's power, start marching, or be left behind....

Are YOU Ready????

Today is a historic day. The country is officially switching all television broadcast from analog to totally digital. If you have an analog TV without a converter, you will not be watching "Family Guy" anymore (or any of your other favorites, unless of course you watch them via the web ;-)).
Today in USAToday, there was a great article discussing how this switch will totally change our viewing experiences.
We have all watched this happen in the print world, where more and more publications are eliminating their print versions and are going totally to digital.
The question is--- ARE YOU READY??? HAVE YOU SWITCHED THE CHANNELS OF YOUR BRAIN???? SIMPLY PUT -- ARE YOU ANALOG OR DIGITAL???

Talk to your buyers... NOW!!!!

Mortgage applications at lowest since November....Borrowing costs have soared as bond yields have risen (from cnnmoney.com).
Buyers who are on the fence, better jump off and make their move now. Interest rates are rising and it doesn't look like they will be returning to the lows we saw just 2 weeks ago. Today, the auction of 10 year Treasury notes was disappointing and oil prices jumped yet again causing further upward pressure on rates.
Last Thursday I broadcast a webinar, Why Now is the Time to Buy- Language, Tools and Strategies for Agents working With Buyers. It was hosted by mysoi.com and you can watch it in it's entirety by clicking this link. LISTEN, LEARN, AND EARN!!!!!!!!!

Social Media Explodes Again!!!

Everyday, journalists and bloggers are writing about the new power of social media. Today I found three articles on MSN.com about facebook... How to Live Your Entire Life on Facebook, 10 Tips for Facebook Power Users, and the best one, Are Boomers Killing Facebook and Twitter? ... Is this new power really reserved for the young?

This BOOMER thinks not...

Yes I am on facebook, twitter, linkedin, smallworld, MYSOI and this blog. I own an iphone, blackberry, several ipods, a Mac and a 2 wireless laptops. But not to make me "feel part of the younger generation" as the article suggests. Rather "being connected" has become a necessity. Who among us hasn't asked or been asked to "PLEASE PUT THE BLACKBERRY DOWN"? MY MOTHER IS ON FACEBOOK!!!!

In my social media classes, I suggest to my agents that they not just go on these sites, simply to be there, but that they first formulate their objective for "being there". Once you establish and recognize your motives, you work backward from there to accomplish your goals (no matter how old you may be ;-))...

So is progress for the young or young at heart????

JUST FOR FUN!!!!!

The Social Media Bible Ten Commandment Ball http://www.lonsafko.com/FastCompany/Commandment_Ball.pdf

You Snooze, You Lose

Bargain hunting buyers are back with a vengance. These buyers know value when they see it. Low prices and low interest rates have lured many investors back into the market. In an article I found today on cnnmoney.com, Les Christie reported that housing affordability is at almost an all time high (Most Over- and Under- Valued Housing Markets), so as a consequence, savey investors are starting to pounce.

Of the 330 housing markets studied in a recent IHS Global Report, 248 were considered under-valued... as much as 42.5% in Vero Beach, Florida!!! The most over-valued city is Atlantic City, NJ, weighing in at 44.1% over-valued.

You may also want take a look at some of my previous posts, which have other articles about surging sales and increased housing affordability (May 27th, June 1st and June 2nd).

Follow MYSOI on TWITTER!!!!

WWW.MYSOI.COM is now on TWITTER!! For a constant feed of great information follow them at http://twitter.com/mySOI. LEARNERS ARE EARNERS!!!!!

More on WHY NOW IS THE TIME TO BUY OR REFI!!!!

More news coming out today points to the fact that, indeed now is the time to think about pulling the trigger if you are considering purchasing or refinancing a home.
Freddie Mac released an article, MORTGAGE RATES CLIMB IN RESPONSE TO RECENT RISE IN BOND YIELDS, reminding us that we are now seeing rates that have not been this high since December 11, 2008. As long as treasury yields remain high, there will continue to be an upward pressure on interest rates.
In a related article written by Brian Louis on Bloomberg.com, US Mortgage rates Jump to Highest Since December, he states, "This week’s rate increase translates into an additional $31.79 a month for a buyer purchasing the median-priced U.S. home of $170,200 with a 20 percent down payment."
More great information is contained in my Monday, June 1st post, NOW is the Time to Buy.
Also if you missed the webinar this morning which discussed this very topic, you can sign on to http://www.mysoi.com/ tomorrow and listen to the archived version.
So unless you are an ALL CASH buyer, call your mortgage professional today to determine how the current rate trending is impacting your purchasing power.

No More CNN???...Constantly Negative News???

WOW... Lot's of promising news out there. First time and bargain hunting home buyers are storming into the market.

In an article from Bloomberg.com, U.S. Economy: Pending Home Resales Surge by Most Since 2001 , the author Carlos Torres points out that low prices, low interest rates, pent up demand and more market confidence have set the stage for this new uptick.

Les Christie of CNNmoney.com included regional sales data in an article he also published today, Pending Home Sales Rebounding.  Positive reports came from three of the four regions. The Northeast (+33% ), the Midwest (+9.8%), and the Western (+1.8%) all saw increases in pending sales, with only a 0.2% decrease in the Southern region.

Just for FUN!!!

Now IS the Time to Buy!!!!

So you think home prices are still going to drop a bit? Waiting to try to time the bottom? Well, while you were waiting to squeeze every last penny out of the sales price, interest rates started moving upward. So much so that the financial columnists have been banging out articles about "pulling the trigger".

Today on CNNMONEY.com, Les Christie wrote about how the high yields on Treasurys are going to keep the UPWARD pressure on mortgage rates (Mortgage RATES Staying above 5%). Brett Arends (WSJ) in his article, Low Mortgage Rates Are Going, Going cautions that rates are likely to keep inching higher and that if you are looking to refinance or to buy, you should start considering your monthly payments.

On Thursday, I will be presenting a FREE WEBINAR, "WHY NOW IS THE TIME TO BUY" (12pm EST). Arm yourself with the data, research and information to make informed decisions. Register at http://www.mysoi.com/ today!!!

One in Eight Americans Facing Foreclosure

Foreclosures are now at an all time high. 616,000 Americans are in danger of losing their homes and 50% of these homeowners, reside in four states- California, Florida, Nevada and Arizona.

One in eight Americans are behind in their mortgage payments. Many of them have lost their jobs and unable to find employment. “If people don’t have a paycheck they can’t support a mortgage,”said Jay Brickman, the MBA’s chief economist.

Yesterday, rates rose for the first time in while on the higher yields on treasury notes.

Even with this new data, economists and housing industry analysts are more optimistic that the bottom may be in sight. (See yesterday's post)

The Bottom???

Phil Izzo of the WSJ online collected opinions from several economists about their view of current market conditions. In his post the general sentiment from those he interviewed was that we probably have hit bottom as for the resale of homes (April resales rose 2.9%), but inventory continues to rise and prices my still be falling in some markets. Some good news is that housing affordability is at all time highs and interest rates are at all time lows.

Sign of the Times

If you haven't read Jeff Jarvis' new book, What Would Google Do? You may want to think about picking it up to read this weekend. It is so necessary for all industries to understand how the Internet is changing everything ... FAST!!!! All of us must reinvent ourselves if we want t0 survive. A wonderful company here in NYC is closing it's doors because of the challenges this new market presents.

Another book I would suggest is Seth Godin's book, Survival is not Enough. We are responsible for our destinies and must create our own future.

MONEY IS "ON SALE"!!!!!

In my April 16 post, "To Refinance or Not to Refinance", I wrote about what people need to consider before refinancing. While rates are at all time lows, it still might make sense for some homeowners to sit tight with their current mortgage.

Today, I ran across a great article in the Wall Street Journal, A Battle Plan for Refinancing Your Home, by KAREN BLUMENTHAL .

The author points out several items one should consider before refinancing their home. Ms. Blumenthal also discusses and explains the rigorous requirements now in place with most lenders, as well as some the pitfall and difficulties.

As with any big decision, one should seek the advice of a professional before making any decisions.

THE PERFECT STORM

If you read my May 14th post, you know that 71% of Americans feel that now is a great time to buy a home (Gallup 4/09). As my good buddy, Jeff Appel has said, "We are at a unique point in time which we will probably NEVER see again. Right now MONEY IS ON SALE AND SO ARE HOUSES."

Even the Homebuilder's Association is feeling confident about the current state of the market. NAHB Chairman Joe Robson said recently, "Builders are responding to what they perceive to be some of the best home-buying conditions of a lifetime." He also echoed Jeff Appel's opinion that mortgage rates are at an artificial low which we may never see again.

Right now homes are more affordable than they have been in 18 years. As a result, first time home buyers are seizing the opportunity and entering the market. In conjunction with low prices, cheap money and government incentives, now really is the time to buy!

YOU TUBE of Publishing?

Have you ever dreamed of being published? Now your dream can come true!!! In yesterday's New York Times, Brad Stone wrote an article about a cool new website, SCRIBD. This document sharing site gives authors the ability to upload their work, set a price they wish to charge the readers and keep 80% of the revenue.
Readers will be able to read the documents on the site, download to their KINDLE, and very soon be able to download to their Iphones.
"Kemble Scott, who has released a novel through a conventional publisher, said he would post his topical new political comedy, “The Sower,” to Scribd and charge $2 for it, partly because standard publishing is so slow. “If this is a book that is going to be interesting to people, now is the time that it fits into the national mood,” he said."
Do you have a book or article swimming in your head? Check out SCRIBD and and change your name to Edgar Allen Poe.

Short and Sweet Post

Yes... Here I am... Hanging in the Hamptons... Getting ready for my open house, but had to share this link with you!!!!
Great post from Mashable.com... What We Can Learn from Celebrities ... Highlights the 5 lessons we can learn from celebrities when it comes to building our social media brand.  Cool stuff from a VERY COOL site.

Let me know what you think... About the post, not my mink... ;-)

Want Some Good News???

The Gallup Organization released a report this week summarizing the results of a survey they conducted in early April (video report).
One of the survey questions asked of the American public was "For people in general, do you think now is a GOOD time or a BAD time to buy a house?" Seventy-one percent (71%) of those surveyed believed that now is a good time to buy a house.
Americans we also asked, "Which of the following do you think is the best long term investment- bonds, real estate, stocks, savings accounts, CD's or mutual funds?"
The results showed that Americans felt that savings accounts and real estate were the best long term investments, with far fewer choosing stocks, bonds and mutual funds.
So while prices are still soft in some markets, Americans are confident that in the long term, real estate is a great investment...when you BUY LOW AND SELL HIGH...
AND NOW IS THE TIME TO BUY LOW!!!

FREE WEBINAR THIS FRIDAY-10am PT / 1pm ET...

Need to recharge your batteries????
Give the rest of your year and your career a boost by attending this exclusive webinar only available to mySOI.com members. Your host will be 2008 San Diego Association of Realtors Broker of the Year…Drew Burks!
Learn first-hand how Drew used technology and innovative marketing to go from a complete unknown to Broker of the Year in one of the country’s most competitive real estate markets.
Register now at http://www.mysoi.com/