Mortgage Market.

I purchased my home in 2011, when I could no longer afford to rent an apartment in Ann Arbor. That is what people have been realizing for the last few years. With interest rates at historic lows people that at one time would be hard pressed to purchase a home, even though they had good credit, could purchase a home. The low rates also helped with people that were upside down in their mortgage, giving them the ability to refinance and keep their home.

It now seems that this trend is going to be changing because of a jump in Mortgage interest rates. Now they are at about 4.5% APR instead of 3.5% from last month up to last week. The rates are going to continue to rise this is in response to the FED no longer paying to keep them low and helping to prevent another bubble collapse.

The good new is if you have been thinking about buying a home, but for some reason have not started looking, this should be your catalyst! Find a realtor now and get looking because in the 12 months when you are "Ready" you may not be able to afford what you can today. Stock brokers are noted for saying buy low sell high, I like to think in real estate that applies but you also can pay less interest then you earn.

IF YOU MOVE FAST YOU CAN STILL EARN MORE EQUITY THEN IT COSTS YOU TO FINANCE!

Rolling

So have you ever got rolling on one project in your life only to realize that everything else has come screeching to a halt?

Yeah that is how I feel with social media, even though it helps to relax and get ideas out it is often the the area that takes a hit it my life. It has been a crazy couple of months in Ann Arbor the Spring housing market hit in late February instead of March/April so I have been trying to keep up with the changes.

Change is the only constant in my life right now and it is about to change again! The market which has been in overtime is about to change again in the next few months. With interest rates on the rise and homeowners realizing they can sell their house now and may see a profit the housing market is going to balance out again. Not tomorrow but probably by the end of the year we will see the change again. My tactic is now changed to don't miss the sellers market, sell today!

We've been so busy around here that I was unable to train properly for the Tour De Cure. But I still stand by my earlier post and will be donating a portion of my home sales to the ADA and have begun training for next years ride.

That is my update for today. Have a great one!

Cold Calling Nightmares!

So a lot of people work as telemarketers, and try to sell things to people that people never new the wanted or have another source for the item. Well in real estate, as a newer agent, it is hard to get your name out there so one of the techniques used is cold calling, however we aren't selling anything. We are passing along information so that homeowners may choose to sell their house or buyers purchase one.

It is still a little bit of a sticky situation because even Realtor's don't like being "bothered" by cold calls. So how does a person resolve the difference between what they have to do in order to make a living and fighting an aversion of calling people and spreading the information. Well I have been reading a book; The Psychology of Sales Call Reluctance and it has helped identify ways to diagnose and treat the apprehension about cold calls and calling people in general.

However, also being a soldier and impatient, I have not taken the opportunity to practice the treatments. Instead in military fashion I had a mission when I woke up today, call 10 people, that is all. I practiced what I would say and I did it! The results are mixed but I was able to leave 3 messages and spoke with 2 people(both NOT INTERESTED). However, I have placed the grain of sand in the minds of those people and maybe they will remember me when it comes time to sell.

I'm often curious if telemarketers feel the same way but they do it because it is a paycheck? Well regardless of how I feel, I did not die when I did it and no one has yelled at me and threatened me so I will have to start doing this more. So look out world you are going to be getting a call from your Mission First Realtor.

Home loans...

Home loans are very common in real estate due to the amount of expenses we have in our modern world and a call on our limited resources. However, we have recently seen homes being purchased with cash, but it is still not the overwhelming amount of homes sold compared to mortgages.This knowledge has gotten me thinking about what most people don't know about home loans and the companies that sell them. That is right a company is willing to sell you a loan, they are not family that is not expecting a rate or return for putting up the money to buy your house. What follows are my opinions good and bad about the type of home loan comapanies.

I have been both a home buyer and realtor and what I have learned is this... just like buying from a local retailer buying from a local lender can be more expensive or have other negatives. Sometimes the local company is perceived as where the wealthy go to bank, thus keeping the vast majority of home buyers from seeking to purchase a home loan from them. There are also stories of them only lending to the wealthy, when in reality it is the people that have higher credit scores. Having a higher credit score only means that you were responsible with your money, not that you are wealthy. Finally they have limited hours that you can reach someone...well that is true just about anywhere that you are seeking sales or service. The best thing I have to say about local lending institutions is this only a handful of people working for you to get the loan processed. If you have questions you know whom to call and when they will answer or return your call.

With large scale lenders; i.e. Quicken, Bank of America, and others you are still buying a loan, but you may have many people working on you loan. More people generally make more of a mess, leaving you the buyer of the loan looking for service. These companies lack service, so do many of the large retailers in America, however they are normally more willing to work with good or even poor credit. Really like everything in life you get what you pay for.

Memorial Day...

I am a Mission First Realtor, I took my tag line from the ideas I learned while in service of the United States. It is the first line of the soldiers creed, and I thought that it was fitting way to describe my business style; I now find myself having to describe my mission statement more and more now. I am proud of my service I left honorably and have attempted to achieve even greater success in the private sector. However, I know that tomorrow as I work or meet people they are going to thank me for my service.

While I am happy to know that my brothers, sisters and I are appreciated I have to wonder if people know what the real purpose of Memorial Day is! I assume many people know that it is a day of remembrance and reflection for those that have fought and died in service to their nation. I hope that those people whom are thanking veterans tomorrow for their service are doing so because while they remember the heavy debt bore by many individuals and their family, they are overcome with a feeling of gratitude and happiness that the veteran being thanked made it home safely.

Gratitude is what my Memorial Day will be about! I am grateful to all of those that have paid the ultimate price for our freedom. If you pray please say one for all of my fallen brothers and sisters.

Ypsilanti Home Buyers are Awesome.

So I was in our team meeting this morning where we focus on our goals and how we can strive to be the example of what realtors should be and other team building exercises. We do this like most professions on a weekly basis as a means of attempting to maintain energy and focus of negotiating for people. What was refreshing about today's meeting was the fact that the market is representative of how I feel.

What does that mean? Simple my wife and I were in Ypsilanti a week ago eating a picnic lunch at Riverside Park when I was thinking about how nice it would be for people to invest in Ypsilanti. Have young professionals and adventurous retirees move into the area and rehab the homes, which are selling at a value to the buyer, and revitalize the community.

Well according to the market data and other agents in my office this is already happening! I'm excited for this change because many people, including those in my own family, whom do not live near or in the area have a stereotype in their mind that it is dangerous. Reversing that stereotype is wonderful, especially since it is going to make their home more valuable but also the community more responsive to the needs of the people.

Thank you to all of those people investing blood, sweat, tears and love into Ypsilanti!

So quite a bit has happened since the last time I posted. My cousin and I both walked in commencement ceremonies, she from CMU and myself from Wayne State University. It is an honor to be an alumnus from Wayne State University but as I was sitting in the rows of all of my fellow graduates that are no doubt going on to work somewhere in management, accounting or finance I was thinking why have I chosen to make my career real estate?

The long and short of it is I saw a need! As my professors in entrepreneurship and organizational development used to say when you see a need and you can fill that need you should do it. That is why I am a Realtor, that is why I am a MISSION FIRST REALTOR. As I speak with people in my daily business activities I have seen that many people have been either hurt by an Agent or have been abandoned. That is the need I will fill, my mission is not to make money by using less then ethical techniques but to build a relationship with people. I want to be the most trusted source in real estate, that all of the people I help will think of me as a source of information and help.

When I was sitting in the classes I knew that I wanted to be my own boss. To work hard for something that is needed and that by doing so I can support my family, community and the organizations I believe in. I never thought that I would find real estate to provide all of these things to me. However, now that I have been doing this and have had success I realize that this is what my education was preparing me for and I am happy!