You know the clam.  They are one of the hardest types of buyers or sellers to work with because they won't tell you what is on their mind.  When working with the clam, Roger Dawson has some good advice that starts with recognizing the type clam they are first.  Here are the 8 types of clams and how Roger recommends that you can open them up!

 

 

 

 

 

"A professor stood before his philosophy class and had some items in front of him. When the class began, he wordlessly picked up a very large and empty mayonnaise jar and proceeded to fill it with golf balls. He then asked the students if the jar was full. They agreed that it was.

The professor then picked up a box of pebbles and poured them into the jar. He shook the jar lightly. The pebbles rolled into the open areas between the golf balls. He then asked the students again if the jar was full. They agreed it was.

The professor next picked up a box of sand and poured it into the jar. Of course, the sand filled up everything else. He asked once more if the jar was full. The students responded with an unanimous "yes."

The professor then produced two cups of coffee from under the table and poured the entire contents into the jar effectively filling the empty space between the sand. The students laughed.

The "Jar" Represents Your Life

"Now," said the professor as the laughter subsided, "I want you to recognize that this jar represents your life. The golf balls are the important things - God, your family, your children, your health, your friends and your favorite passions - and if everything else was lost and only they remained your life would still be full. The pebbles are the other things that matter like your job, your house and your car. The sand is everything else - the small stuff."

"If you put the sand into the jar first," he continued, "there is no room for the pebbles or the golf balls. The same goes for life. If you spend all your time and energy on the small stuff you will never have room for the things that are important to you."

"Pay attention to the things that are critical to your happiness. Play with your children. Spend time with your parents. Visit with grandparents. Take time to get medical checkups. Take your spouse out to dinner. Play another 18. There will always be time to clean the house and fix the disposal."

"Take care of the golf balls first - the things that really matter. Set your priorities. The rest is just sand."

One of the students raised her hand and inquired what the coffee represented. The professor smiled. "I'm glad! you asked. It just goes to show you that no matter how full your life may seem, there's always room for a couple of cups of coffee with a friend."

 

 

Our Special Financing Program is designed to help your phone ring for your listings if you promote this on your print ads, MLS descriptions and in your signage!

 

Program in a nutshell:   Sellers agree to buy the rate down by 2.25% of the purchase price which reduces a 30 yr fixed rate by .5% in exchange for selling at the full asking price.  This more than doubles the effect of the 2.25% effective price drop so it is a win/win/win because the list price doesn't change for the seller, the buyers get a better payment and you get the higher commission!

 

 

 

 

 

 

 

 

 

 

 

Don't let the financial markets squash your clients and your transactions!  Stay informed by reading my new daily "Daily Rate Lock Commentary" or just call me to find out what is going on!  If you want to be included in this distribution, just call or email me.  Remember, knowledge is power and the more educated you are in your industry, the higher quality buyers you are going to attract and that means easier closings, bigger houses and more money in your "hip national bank!"  And since rates are still climbing, call us to get your clients in our 90 day rate protection as soon as possible!

This week brings us the release of four monthly reports for the markets to digest. The first two important pieces of data will come Wednesday morning with the release of October's Producer Price Index (PPI) and Retail Sales figures. The PPI measures inflationary pressures at the producer level of the economy. There are two portions of the index that are used- the overall reading and the core data reading. The core data is the more important of the two because it excludes more volatile food and energy prices.

If it reveals stronger than expected readings, indicating that inflationary pressures are rising, the bond market will probably react negatively and should drive mortgage rates higher. If we see in-line or weaker than expected numbers, the bond market should thrive and mortgage rates should fall. Current forecasts are calling for increases of 0.2% in both the overall index core data readings.

October's Retail Sales report is also due out Wednesday morning. This report is very important to the financial markets because it measures consumer spending. Since consumer spending makes up two-thirds of the U.S. economy, any related data is watched closely. If this report reveals weaker than expected sales, the bond market should thrive and mortgage rates will fall, assuming the PPI doesn't show any significant surprises. Current forecasts are calling for an increase in sales of approximately 0.2%.

October's Consumer Price Index (CPI) will be released at 8:30 AM ET Thursday morning. This index is similar to Wednesday's PPI, except it measures inflationary pressures at the more important consumer level of the economy. The overall portion is expected to show a rise of 0.3% while the core data is expected to rise 0.2%.

The other report scheduled for release this week is October's Industrial Production, which will be released at 9:15 AM Friday. This report gives us a measurement of manufacturing sector strength by tracking output at U.S. factories, mines and utilities. It is expected to reveal a 0.1% increase. Stronger than expected levels of output could mean that the manufacturing sector is gaining momentum. That would be considered bad news for the bond market and mortgage rates.

Overall, look for Wednesday to be the most important day of the week with the PPI and Retail Sales reports being released. Thursday's CPI may also cause significant movement in the markets and mortgage pricing. I think bonds can improve on the week as long as the PPI and CPI reports do not show much stronger than expected readings. However, I am concerned about that we may see higher readings than expected or stock market gains, therefore I am holding the lock recommendations for the time being.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Lock if my closing was taking place between 21 and 60 days... Lock if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

©Mortgage Commentary 2007

 

 

Let me know if I can take an application for you anytime!  And, please let me know if you like the format of this email service.  I hope you are reading these so you can stay up on your profession and so you can make more money too!

 

Also, I am available to do a "Hit the Ground Running Workshop" with any agents interested in learning tons of things they can do to help them succeed in Real Estate.  I need at least 5 agents, brand new or experienced, looking for some motivation to put this on for you that will take 2-3 hours, depending on your involvement!  These are designed to be interactive so you can learn more about yourself and so you will walk away with a stronger sense of self-confidence too.

 

If you don't get at least 10 great ideas that can really help your business, I'll take you to lunch and give you a few more!

 

What are you waiting for?  Gather support with 4 of your colleagues and call me today!

 

I hope you have a great week this week in real estate.  Call me if I can help you with that!!