A Break From CNN (Constantly Negative News)???

While doing my research today I found a few articles that are TOTALLY worth reading and perhaps sharing with your friends and clients.
The first one I found on Businessweek.com, Jumbo Loans Could Make a Comeback , which sheds some light on how banks are starting to lend in the jumbo arena, and the criteria they are using to screen clients seeking these loans. I also found a similar article on INMAN.com , BOA Out to Make Jumbo Loans. These articles will be of particular interest to my agents here in the Northeast who have many clients wanting to buy, but unable to secure the appropriate funding needed purchase the $1million+ product in our markets.

On CNBC.com, the article Renters To Turn Buyers as Homes Become Affordable reports that "In some U.S. markets, prices appear to have fallen enough to make buying cheaper than renting."


Finally, from CNNMONEY.com there is a hint from Wall Street that folks there believe that the housing market may have finally reached the bottom. In Betting on a Housing Recovery the authors say that with better-than-expected home sales reports and homebuilder stocks climbing again, that this may signal a housing bottom.

Perhaps that is why these brokers are dancing? :-)....

FORECLOSURE Now Spells OPPORTUNITY

We have all heard all the news about the housing crisis and how foreclsures are bringing the economy to its knees. Now the press is starting to focus on investors and first time buyers who are seeing the "glass half full" and taking full advantage of this buying opportunity.

In an article today posted to CNBC.com, Wading Into Foreclosures, it states that if you are willing to do your homework, roll up your sleeves and do some work, one can pick up properties in some areas up 60% below the previous purchase price.

“Whether you’re an investor looking to purchase a rental property, or a homeowner who’s ready to retire and move someplace more affordable, the price of foreclosed properties right now is right,” says Debra March, executive director of the Lied Institute for Real Estate Studies at the University of Nevada Las Vegas, the nation’s leading state for foreclosures.

The article state that buying foreclosure properties comes with risks. One must have a long term strategy, and also be ready to do some work, as many of the properties have been dismantled to some degree.

If you have the desire and understanding of the market, this is a great way to find the silver lining in a the dark economic cloud :-)...

We're Having a Heat Wave????

The sun has not set on Ft. Myers real estate. While they are still feeling the pain of two years of declining prices, there may be light at the end of the tunnel.
Because prices have fallen, many "used to be renters" are now scooping up prime "2009 priced" properties. Lower prices coupled with attractive interest rates, have made Ft. Myers and similar areas around the United States interesting purchase prospects.
Trulia.com, a real estate search engine released a report showing that several of these hard hit markets are now enjoying increased sales and search activity. Click here for a full article found on CNBC.com, Some Real estate Markets Warming Up.

FIRST TIME HOME BUYERS BURSTING OUT OF THE GATE!!!

First time home buyers accounted for more than half of the sales last month, fueling a higher than expected existing home sales number. (See my March 2nd post about first timers)

Purchases increased 5.1 percent to an annual rate of 4.72 million from 4.49 million in January, the National Association of Realtors said today in Washington. The median price slumped 15.5 percent from a year ago, the second-biggest drop on record, and distressed properties accounted for 45 percent of all sales.

"Lower prices coupled with very low interest rates and an $8,000 tax credit are causing first-time home buyers to dive in,'' said Bill Emerson, chief executive officer of Quicken Loans in Livonia, Michigan. "While it's good to see sales go up, it's more important to see inventories go down. When that happens, only then can you start to talk about a housing correction.''

The Real American Dream

There was a great article yesterday in the New York Times which you may want to share with your friends and families. It was in the op-ed section, written by David Brooks, entitled The Commercial Republic. Basically the message is that we, as a nation always “bounce back”. It is in our cultural DNA. Click on the excerpt below for the full article….
“From Benjamin Franklin and Alexander Hamilton, through Horatio Alger and Norman Vincent Peale, up until Donald Trump and Jim Cramer, popular figures have always emerged to champion the American gospel of success, encouraging middle-class people to strive, risk and make money.
This gospel gets dented during each of the nation’s financial crises, but it always returns with a vengeance.”

CRAMER IS SCREAMING!!!!

NOW IS THE TIME TO REFINANCE!!!!

In today's article, Stop Trading!;Refinance, Cramer says, “Right now I have never seen a moment where the Federal Reserve is saying, ‘Here’s cheap money…Get back involved!”

So run, don't walk, to have a sit down with your loan officer to analyze your current situation and the new financing options that are available.

March Madness

Thanks to the NY Times, you are now able to fill out your brackets online, invite friends and compare your picks with other readers. You have to register or log in to participate, but is free and it is FUN!!! Below are the links for both the men and women's interactive brackets... I also included the links from the ESPN site for the games schedules and printable brackets....Go Bucks!!!!

Women's Bracket (NYT)

Women's schedule and printable brackets (ESPN)

Men's Bracket (NYT)

Men's schedule and printable brackets (ESPN)

News to SMILE About

FINALLY!!!!! Good news today… Housing starts up 22% (note that these were not single family homes, but rather apartment rental buildings)…

Another great article on the CNBC site was one that started off with the statement “Call off Depression 2.0!!!!”—ya gotta like that :-)!!!!
And since you know how much I push READERS ARE LEADERS, here is a 20% off Border’s coupon. I am re-reading the book, Mastery by George Leonard. In this book George Leonard describes the concept of "mastery" and explains how to achieve it.

Maybe St Patty's Day is a lucky day!!!!

Social Networks and Blogs - Full Steam Ahead

According to a new Nielson Online report, the internet users in the US and other countries worldwide are using social networks and blogs more than e-mail. (Search still holds the top spot for all online activity) Does this mean that the days of using email as a marketing tool are numbered? Is email going to the same graveyard where direct mail now lies?

You may be thinking that social network sites and blogs are just for fun or a trend. Research shows that the time spent on social networks and blogging sites is growing at over three times the rate of overall Internet growth.

If you would like to learn more, Nielson is hosting a webinar on March 25th, Riding the Wave of Social NetworkingInsights and Tactics for Publishers, Marketers and Agencies. Online analysts Alex Burmaster and Jon Gibs will be discussing the global phenomenon that social networking has become and its implications for business and marketing.

Another One Bites the Dust

If you read the NY Times this morning, you may have seen the article about the Seattle Post. Today is the last day they will distribute a print version of the paper. Moving forward, this Hearst Corp. newspaper will no longer be paper; it will be all-digital.

With this transition to all-digital comes a new business plan. Instead of a staff of 165, there will be a staff of 20. Also, the site will be interactive, allowing readers to comment on the various news items and op-eds.

So like many other industries, the newspapers will not vaporize, rather they will be pushing forward in the digital world.

How is your industry changing? Are you preparing and learning how to evolve and move forward? Or will you be like one of the 145 Seattle Post employees who were not ready for the future? ...the choice is your's...

STEP UP!!!

Now I am the Voice.

I will lead, not follow.

I will believe, not doubt.

I will create, not destroy.

I am a Force for Good.

I am a Leader.

DEFY THE ODDS!

SET A NEW STANDARD!

STEP UP!

STEP UP!

STEP UP!

Want to grow your business in 2009?
Join into a complimentary conference call with Tom Ferry live.... Thursday March 12th at 9:30am Eastern time. To participate, simply dial 218-486-1400 and use guest code 46001 # - We can not change market conditions, we can only change the way we think and take action.

Do You Pay Enough Taxes...Or would you like to pay more???

REQUEST YOUR SENATOR TO NOT PASS THE MILLIONAIRE’S TAX....
New York does not need another tax! Write your State Senator today-Your voice counts!!! As we requested during our “ON THE DOT” broadcast, please take a moment to click on this link to send an email to your senator. It takes only 30 seconds. Well maybe 60 :-)...

http://www.taxpayersforanaffordablenewyork.com/

When Warren Buffett speaks....

THE WORLD LISTENS...

Yesterday billionaire Warren Buffett told CNBC that he remains confident that America's best days are ahead... (WHEW!!!! Finally some good news!!!!)

"This machine is gummed up right now and it's gummed up by a lack of confidence, and that makes people scared... Everything will be all right. We do have the greatest economic machine that man has ever created, I believe," Buffett said.

He did say that we will feel more pain but also said that this is a necessary correction. CNBC has posted the complete transcript of his three hour interview as well as all the videoclips.

Click here for the highlights and a 3 minute video outlining Mr Buffetts thoughts and comments.

Recession Busters!!!!

Here are two (of many) FREE 411 services…

The first is a link to 1-800-GOOG411 which is a free information service for BUSINESS. There are plenty out there, but I find this one to be the easiest and most accurate. There is a video link on their page explaining the service.
http://www.google.com/goog411/

There is also a service for both business and residential 1-800-FREE411. Here is their webpage(no video) with all the info: http://www.free411.com/about/

Why pay $1-$2 for info when you can get it FREE???? FREE IS GOOD!!!!!!

If your name does not show up on a GOOGLE search...

DO YOU REALLY EXIST???

JUST GOOGLE IT is a well known command and we all know that GOOGLE has become a commonly used "verb". Just as you are "googling" others--you are being googled!!!

Internet search/research has become a recognized procedure in the hiring process, dating :-), product research, and checking out clients (and they are checking out you). Search has become part of our daily lives!!!

Marketing guru, Seth Godin authored a great blopgpost (2/28/09), PERSONAL BRANDING IN THE AGE OF GOOGLE. He talks about the delights and dangers of how you show up in a GOOGLE search.

William Arruda and Kirsten Dixson are two of the world’s leading personal branding experts, have written a manifesto on this same topic, entitled BRANDING YOURSELF IN BITS AND BYTES found on http://www.changethis.com/. They ask the tongue in cheek question, "Will GOOGLE change the way we name out kids?"

If you are interested in successfully increasing your "GQ" - Google Quotient - I highly recommend reading both of these posts!!! Also there is a MINDOPENING book by Jeff Jarvis, WHAT WOULD GOOGLE DO? (see my 1/26/09 post) which is an absolutely amazing read!!!!

FIRST TIME HOMEBUYER ADVANTAGE

In Sunday's New York Times was a great article, First Timer's Seize the Day. For the first time, IN A LONG TIME, first time homebuyers are actually in the driver's seat. Without the requirement to sell before they can buy, and with interest rates at historic lows (especially for conforming loans), AND WITH TONS OF DISCOUNTED INVENTORY FROM WHICH TO CHOOSE, first timers are jumping into this market of opportunity. National Association of Realtor statistics show that 41% of all buyers in in 2008 were first time buyers, up from 36% in 2006.

You may want to read (or reread) an article I referenced from the WSJ the other day, RENTERS LOSE EDGE ON HOMEOWNERS. It states that the relative cost of owning versus renting is swinging back in favor of homeownership in some U.S. markets.

Also available for qualified first-time home buyers is a federal income tax credit of up to $8,000. They must be purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid.

If you are a first time buyer, or know one here are the top 10 things you should know when purchasing your home (from CNNMoney.com)