Sept01news08

Happy Labor Day!

Where has the summer gone? More importantly, where have our buyers gone? Just when things were getting going again last month, it now seems that we are slowing down some with fewer prospects.

Buyers are all caught up in getting their kids in school, watching football games, watching the 2008 Olympics and now politics and the looming hurricane coverage. So, for those of us fortunate not to be in the path of 'Gustav', we need to get our prospects back and focused on buying that new house!

For all of those in the path of this hurricane, our thoughts and prayers are with you.

In this newsletter are a couple of ideas to help you with this and when you get a prospect, ask them to call me so I can help them and you!

I am working today so CALL ME if you need me!

Think $7500 1st-time buyer tax credit!

Thanks for your business.

Senior Mortgage Advisor
President's Club Member 2007

Mortgage Services

Click here to write your congressman to save the DPA program. I wrote to all the congressmen in my territory by changing the zip codes I work in.

DPA Groundswell Link

910-489-6918 or

843-230-7929

__________________

Call me if I can help!

Make your buyers feel special!

The next time you get a buyer, why not put them into your special 'Preferred Buyers Program'?

Here are some things that you can offer them:

Commentary 'Home Buyers Guide' that you developed with tons of information about buying a home in our market and how you help them through the entire process.

Complementary home warranty for their purchase

Detailed analysis of all homes in their price range showing days on market, schools in their district, distances to shopping, pricing history, etc.

Complementary credit report with a quick scenario check for their home purchase options by your Senior Mortgage Advisor (me!). Make me a part of this neat service that you provide and I will be promoting your services too.

Coupons from many stores and restaurants in town.

Complementary map of the town

Complementary doctor and hospital guide

Email with any new listings that pop up on the MLS that meet their preferences.

Complementary retail and restaurant guide

Complementary listing of parks and events going on in town

Weekly updates on your home analysis

Complementary floor plan of the home they buy that you can do to help them with their furniture positioning.

Complementary quote from some of your preferred service providers for fixing or sprucing up the home or yard. Mention the discounts they give to your clients.

Complementary baby sitting while they are home shopping with you. This will help them and you relax more during the searching and while going through the paperwork, etc.

Complementary address labels with their new address.

Complementary tickets to a movie or local ballgame.

Commentary service that you provide with 'Just moved' cards mailed to all of their friends and family. These cards are great for promoting your services too.

Complementary 'House Warming Party' that you help sponsor once they move in so they can meet their new neighbors. This helps you meet their neighbors too!

Complementary framed and matted picture of their new home.

Complementary webpage that you set up for them of their new home that they can promote to their family and friends. Again, great way to promote your services. Make sure to include a link to your site!

Etc.

The point is to make them feel special and they are more likely to stay with you if they are worthy on this special status! Make sure you tell them that they are in this program because you feel that they are a great buyer that you are planning on exceeding all of their expectations with great communications and service.

When you do, they'll pass this on to their family and friends that will want to be in your program too!

And remember that many things on this list are free or fairly inexpensive when you work with others in collecting them. When soliciting merchants and service providers to help, just mention that you are developing a preferred buyer program for new home buyers that may be a strong future customer for their business for years to come.

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.

http://samthompson.phhmortgage.com/

http://samthompson.c21mortgage.com/

http://samthompson.coldwellbankermortgage.com/

http://samthompson.eramortgage.com/

*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.

Know the red flags!

There are many things that will let you know real quick if you have a good buyer or not and if they are worthy of your 'Preferred Buyer Program' mentioned above.

Here are a few things to be concerned about:

Just got a job working in sales. (must have 2 yr history on commission sales.)

Doesn't have enough money for the earnest money (must have at least 3.5% for they downpayment so probe this)

Self-employed. (probably don't report much income)

No real time frames to buy; just looking. (if not serious about buying within 2 mos then, not worth your time right now)

Concerned about their credit score. (probably has bad credit)

Looking for a fixer-upper (might be a good buyer but could be short on cash or income)

Has to sell their house first. (could be a big issue as you know)

Looking for a stated income loan (probably knows that their income is hard to document. These programs are gone!)

Wants for investment (needs 10% down, minimum)

Has been working with another realtor (might fire you too)

Has been pre-approved by some broker on the internet (watch out)

Know the red flags and you are going to be more productive in real estate!

Also, if you are getting many buyers with red flags, look at your prospecting and advertising habits. If you need some ideas to help you find better buyers, call me and I'll try to give you some new ideas!

Rate Lock Advisory - Friday Aug. 29th

Friday's bond market has opened in negative territory despite sizable stock losses. The stock markets in selling mode with the Dow down 145 points and the Nasdaq down 40 points. The bond market is currently down 3/32, which will likely keep this morning's mortgage rates at yesterday's levels.

July's Personal Income and Outlays was the first piece of economic data posted this morning. It showed that spending rose 0.2% as it was expected to, but a surprising drop of 0.7% in income was the largest decline in three years. This indicates that consumers have less income to spend than thought, which will likely translate into slower consumer spending. That is considered good news for bonds and mortgage rates.