| March 2008 | The New Quick Mortgage Minute Weekly Newsletter for Your Business! |
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Dear Sam, I heard 2 important statistics last week that you need to know.
28% of the people you meet will know somebody that will be buying or selling a home within the next 12 months. So...you need to talk to as many people as you can and here's a good script for you!
"With the downturn in the housing market effecting other parts of
the country much worse than us, housing prices are lower and interest
rates are very attractive trying to get more buyers in the market. So,
now is a great time to buy. There are some great values with
low monthly payments right now. It's probably the strongest buyer's
market in history and many think we are near the bottom so it is going
to turn up soon. Do you know anybody thinking about buying or selling
I need to call?"
The other statistic is that 40% of all buyers will visit a open house before buying a home. Are you doing open houses? Why not? Don't you want some prospects to talk to?
If you want to do an open house, remember that the gold is in the
promotion leading up to the open house. So, get out and hand out
flyers to all the neighbors and meet them and offer to have a pre-open
house just for them. Make sure to ask if they know anyone thinking
about buying you can call! Remember the 28% rule!!
To do this right, go on our website and create some listing sheets personalized with your photo and contact information. They are FREE and really help show the buyers if they can aford the house. Call me and I will show you how to do this. Sam Thompson, Senior Mortgage Advisor
Mortgage Services, PHH Mortgage
843-230-7929
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FHA Loan Limits Raised! | |
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 The best deal in the mortgage industry...
just got better!
With
the continuing tightening of the conventional mortgage financing, most
buyers I work with now are much better off with a low interest, 30-year
fixed, assumable, FHA loan and we are the best lender to do these.
Since the ruling that the non-profit organization grant programs
allowing the 3% seller gift contribution is still legal, coupled with
the more forgiving FICO requirements, FHA just might be the only game
in town for our market very soon.
Don't trust anybody but us for your FHA BUYERS!! We'll take good care of them and you!
Check out the new maximum loan amounts for the following counties:
Most counties in the country and in our region are now set at $271,050 max FHA loan amount! Notable exceptions in Carolina counties are:
Click below for all FHA limits for all counties in the US: |
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My brands* that I represent are:     Want to jazz up your website? Add the "get approved"
graphic below and then put my website link in the properties of the
image as follows. Call me if you need help with this.
 *Any time I am working with your client, if you are under a specific brand, I am projecting your brand logo in all that I say and do as do my colleagues. |
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Weekly Tip - Reverse Offers! | |
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 Do you cringe like this guy when
certain buyer's agents show your listings because you know that they
will never close and they might take up much of your time for several
weeks?
Try this strategy to help get them to the table. After they have shown your listing 2 times to the same prospect and nothing happens for a few days, meet with your seller and make a reverse offer to them! This will probably surprise the
other agent that is unfamiliar with offers! Then they will have to
start working on negotiations and you can help them get through that
too.
With so many inexperienced agents in the industry, this tactic can help you and them.
Here's a great idea to help in this process. Get your sellers to offer our "Special Financing" option to them! It will only cost your sellers 2.25% off the existing list price but it can help reduce the payments for the buyers with 1/2%
off the existing low rates in the market right now. This will more
than double the savings that the same price reduction would have done
that will help get your buyers excited.
Call me and I will help you with this strategy. I am here for you!
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Weekly Mortgage Commentary Snippet | |
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Rate Lock Advisory - Monday Mar. 17th The Fed acted just after JPMorgan Chase & Co. agreed to buy rival Bear Stearns Cos. for $236.2 million over the weekend to keep the company out of backruptcy in a deal that represents a stunning collapse for one of the world's largest and most venerable investment houses. Just on Friday the Fed had raced to provide emergency financing to cash-strapped Bear Stearns through JPMorgan. Days earlier the Fed announced a set of other unconventional steps to thaw out a credit market in danger of freezing shut. At this time, I don't have a market commentary to give until these actions settle. |
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NCAA Men's Basketball Tournament is Here! | |
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 March Madness is here and I have my spreadsheet ready for your input. Just email me if you want to play by 12:00 noon on Thursday and I'll send you the spreadsheet to fill out and reply back to me. It's simple, just plug in the lower seed for each game with a few upsets and you'll be in the running. Winner gets a trophy and cash prize too! Let's see your competitive Spirt!! |
