Daily Quotes Sept. 17 2010!
"Making a decision usually means taking one of two roads. One is doing
the right thing. To take the other road, you have to sit back and spin a
story around the decision or action you are taking. If you find yourself
thinking up an elaborate justification for what you are doing, you are
not doing the right thing."
-- Wayne Sales
"A man, as a general rule, owes very little to what he is born with. A
man is what he makes of himself."
-- Alexander Graham Bell, inventor
"Start by doing what's necessary, then what's possible, and suddenly you
are doing the impossible."
-- Francis of Assisi, clergyman
"Throughout the centuries, there were men who took first steps, down new
roads, armed with nothing but their own vision."
-- Ayn Rand, Novelist
"Set higher standards for you own performance than anyone around you,
and it won't matter whether you have a tough boss or an easy one. It
won't matter whether the competition is pushing you hard, because you'll
be competing with yourself."
-- Rick Pitino
All "Betts" on Brian! The Only Realtor you want!
Friday, September 17, 2010
Thursday, September 16, 2010
For the week of September 13, 2010
For the week of September 13, 2010
INFO THAT HITS US WHERE WE LIVE
Market Update
Last week included a few interesting takes on where things are at in the housing market. We first got the news that purchase mortgage applications last week were at their highest level since May, UP 6.3% over the week before. It's nice to see buying interest starting to rebound after the tax credit expiration. But we do have a bit of a way to go, as last week's number was still 38.8% below where it was a year ago, according to the Mortgage Bankers Association.
One source of new buyers for sure is the huge number of people for whom homes are now way more affordable. For families making the national median income, the share of homes they can afford stayed above 70% for the sixth quarter in a row as tracked by the Housing Opportunity Index (HOI). The National Association of Home Builders, which co-sponsors the HOI, said this affordability was the result of low home prices and favorable mortgage rates. The NAHB chairman commented, "Homeownership is within reach of more households than it has been for almost a generation...with house prices starting to stabilize, conditions are beginning to draw homebuyers back into the market..."
Review of Last Week
SQUEAKING UP... We had just four days of trading last week for investors to show us how they feel about the economic prospects going forward. Coming back from Labor Day, stocks sank on Tuesday, with the Dow 147 points down. But during the next three days, traders slowly pushed prices back up enough that all three major stock indexes squeaked into positive territory for the second week in a row. And the Dow remains UP for the year.
It was an unusually quiet week for economic news but, as usual, both positive and negative information competed for our attention. Wednesday, the Fed released its latest Beige Book containing economic views from the 12 regional Federal Reserve Banks. They noted continued growth but with widespread signs of a deceleration. Hiring is being held down by the availability of part time workers, home sales have slowed since the tax credit, and manufacturing is expanding at a slower pace. But commercial real estate shows signs of stabilizing, consumer spending is up despite cautious attitudes, and travel and tourism are up.
Thursday's news included a $7 billion drop in the trade deficit for July, the rest of the world buying $2.8 billion more U.S. goods and services than they did in June. New weekly unemployment claims continue to drop, by 27,000, to 451,000. This is still not a great number but at least it's trending in the right direction. Most experts feel that the employment situation is closely tied to the health of the housing market.
For the week, the Dow ended UP 0.1%, to 10462.77; the S&P 500 was UP 0.5%, to 1109.55; and the Nasdaq was UP 0.4%, to 2242.48.
The bond market had an up-and-down time of it over the four days, finishing off at the lows. The FNMA 30-year 4.0% bond we watch ended down 23 basis points for the week, closing at $102.04. Freddie Mac's weekly survey showed national average mortgage rates still historically low, but leveling out. Three out of four mortgage types they track were flat or increased slightly over the prior week.
This Week’s Forecast
THE BIG ECONOMIC PICTURE (ALMOST)... We get lots of economic news this week, the sole exception being any reports on our beloved housing market. There's Retail Sales on Tuesday, expected to still be up, though at a slower pace. Wednesday has manufacturing, which continues its slow but steady recovery, as measured by the Empire State Index, Industrial Production, and Capacity Utilization. We get wholesale inflation with the Producer Price Index and inflation for the rest of us with the Consumer Price Index, both of which should show prices under control and deflation not a threat. We end with University of Michigan Consumer Sentiment, expected to reveal a lessening of fear over a double-dip recession.
The Week’s Economic Indicator Calendar
Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates.
Federal Reserve Watch
Forecasting Federal Reserve policy changes in coming months Last week's Fed Beige Book didn't alter the opinions of any economists, who overwhelmingly believe the Fed will keep rates low well into next year. A boost in inflation or the recovery could change things of course. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.
All "Betts" on Brian! The Only Realtor you want!
INFO THAT HITS US WHERE WE LIVE
Market Update
Last week included a few interesting takes on where things are at in the housing market. We first got the news that purchase mortgage applications last week were at their highest level since May, UP 6.3% over the week before. It's nice to see buying interest starting to rebound after the tax credit expiration. But we do have a bit of a way to go, as last week's number was still 38.8% below where it was a year ago, according to the Mortgage Bankers Association.
One source of new buyers for sure is the huge number of people for whom homes are now way more affordable. For families making the national median income, the share of homes they can afford stayed above 70% for the sixth quarter in a row as tracked by the Housing Opportunity Index (HOI). The National Association of Home Builders, which co-sponsors the HOI, said this affordability was the result of low home prices and favorable mortgage rates. The NAHB chairman commented, "Homeownership is within reach of more households than it has been for almost a generation...with house prices starting to stabilize, conditions are beginning to draw homebuyers back into the market..."
Review of Last Week
SQUEAKING UP... We had just four days of trading last week for investors to show us how they feel about the economic prospects going forward. Coming back from Labor Day, stocks sank on Tuesday, with the Dow 147 points down. But during the next three days, traders slowly pushed prices back up enough that all three major stock indexes squeaked into positive territory for the second week in a row. And the Dow remains UP for the year.
It was an unusually quiet week for economic news but, as usual, both positive and negative information competed for our attention. Wednesday, the Fed released its latest Beige Book containing economic views from the 12 regional Federal Reserve Banks. They noted continued growth but with widespread signs of a deceleration. Hiring is being held down by the availability of part time workers, home sales have slowed since the tax credit, and manufacturing is expanding at a slower pace. But commercial real estate shows signs of stabilizing, consumer spending is up despite cautious attitudes, and travel and tourism are up.
Thursday's news included a $7 billion drop in the trade deficit for July, the rest of the world buying $2.8 billion more U.S. goods and services than they did in June. New weekly unemployment claims continue to drop, by 27,000, to 451,000. This is still not a great number but at least it's trending in the right direction. Most experts feel that the employment situation is closely tied to the health of the housing market.
For the week, the Dow ended UP 0.1%, to 10462.77; the S&P 500 was UP 0.5%, to 1109.55; and the Nasdaq was UP 0.4%, to 2242.48.
The bond market had an up-and-down time of it over the four days, finishing off at the lows. The FNMA 30-year 4.0% bond we watch ended down 23 basis points for the week, closing at $102.04. Freddie Mac's weekly survey showed national average mortgage rates still historically low, but leveling out. Three out of four mortgage types they track were flat or increased slightly over the prior week.
This Week’s Forecast
THE BIG ECONOMIC PICTURE (ALMOST)... We get lots of economic news this week, the sole exception being any reports on our beloved housing market. There's Retail Sales on Tuesday, expected to still be up, though at a slower pace. Wednesday has manufacturing, which continues its slow but steady recovery, as measured by the Empire State Index, Industrial Production, and Capacity Utilization. We get wholesale inflation with the Producer Price Index and inflation for the rest of us with the Consumer Price Index, both of which should show prices under control and deflation not a threat. We end with University of Michigan Consumer Sentiment, expected to reveal a lessening of fear over a double-dip recession.
The Week’s Economic Indicator Calendar
Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates.
Federal Reserve Watch
Forecasting Federal Reserve policy changes in coming months Last week's Fed Beige Book didn't alter the opinions of any economists, who overwhelmingly believe the Fed will keep rates low well into next year. A boost in inflation or the recovery could change things of course. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.
All "Betts" on Brian! The Only Realtor you want!
Last Week in the News
Last Week in the News
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending September 3 fell 1.5%. Refinancing applications fell 3.1%. Purchase volume rose 6.3%. Refinancing made up 81.9% of total applications.
The Federal Reserve announced consumer credit debt fell in July by $3.6 billion. Economists had forecast that consumer credit debt would fall $3.5 billion in July. Consumer credit debt fell in June by $1.3 billion, $5.3 billion in May and $14.9 billion in April.
According to the ICSC-Goldman Sachs index, retail sales fell 0.4% for the week ending September 4. On a year-over-year basis, retailers saw sales increase 1.8%, the lowest reading since May.
The trade deficit decreased 14% to $42.8 billion in July. Economists had expected the trade deficit to rise to $46.8 billion. Exports rose 1.8% to $153.3 billion, the best reading since August 2008. Sales of civilian aircraft, industrial machinery, computers and telecommunications equipment all posted gains. Imports fell by 2.1% to $196.1 billion.
Wholesalers increased their inventories 1.3% in July, following a 0.3% rise in June. Sales at the wholesale level rose 0.6% in July, the most since April. Economists had anticipated inventories would increase 0.4% in July.
Initial claims for unemployment benefits fell by 27,000 to 451,000 for the week ending September 4. Economists had projected claims would fall to 470,000. Continuing claims for the week ending August 28 fell by 2,000 to 4.47 million.
Upcoming on the economic calendar are reports on retail sales on September 14, industrial production on September 15 and consumer inflation on September 17.
All "Betts" on Brian! The Only Realtor you want!
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending September 3 fell 1.5%. Refinancing applications fell 3.1%. Purchase volume rose 6.3%. Refinancing made up 81.9% of total applications.
The Federal Reserve announced consumer credit debt fell in July by $3.6 billion. Economists had forecast that consumer credit debt would fall $3.5 billion in July. Consumer credit debt fell in June by $1.3 billion, $5.3 billion in May and $14.9 billion in April.
According to the ICSC-Goldman Sachs index, retail sales fell 0.4% for the week ending September 4. On a year-over-year basis, retailers saw sales increase 1.8%, the lowest reading since May.
The trade deficit decreased 14% to $42.8 billion in July. Economists had expected the trade deficit to rise to $46.8 billion. Exports rose 1.8% to $153.3 billion, the best reading since August 2008. Sales of civilian aircraft, industrial machinery, computers and telecommunications equipment all posted gains. Imports fell by 2.1% to $196.1 billion.
Wholesalers increased their inventories 1.3% in July, following a 0.3% rise in June. Sales at the wholesale level rose 0.6% in July, the most since April. Economists had anticipated inventories would increase 0.4% in July.
Initial claims for unemployment benefits fell by 27,000 to 451,000 for the week ending September 4. Economists had projected claims would fall to 470,000. Continuing claims for the week ending August 28 fell by 2,000 to 4.47 million.
Upcoming on the economic calendar are reports on retail sales on September 14, industrial production on September 15 and consumer inflation on September 17.
All "Betts" on Brian! The Only Realtor you want!
Your Marketing Checklist
Your Marketing Checklist
Here’s a checklist of important steps that will serve as your marketing foundation:
Powerful mission statement. A mission statement addresses what your customers ultimately value and how your business will help them achieve that value. When writing your mission statement, assume your customers’ perspective and focus on their true-end goals. Then articulate this mission into a clear and concise statement.
Professional photographs. Regardless of your business, professionally shot, high-quality photographs of you, your team and products communicate success, confidence, professionalism and trust to your customers. Don’t scrimp on your professional image.
Easy-to-navigate website. Regardless of your industry, more people are researching products and services by visiting websites. Don’t disappoint your customers. Make sure you understand their needs, and ensure your website quickly points them to the information they seek. Your site should thoroughly explain your business, including hours of operation and contact information.
Personal brochure. A brochure is a professional summary of your products, services, experience and knowledge that you can give to potential customers. Make sure your benefit-driven brochure communicates to customers the full range of products and services you offer.
Up-to-date database. Your customer database is arguably your most important marketing tool. But to be effective, it needs to be maintained. Commit to regularly entering new customer information and updating existing records, as well as noting personal information (such as birthdays) that can help you connect with clients
All "Betts" on Brian! The Only Realtor you want!
Here’s a checklist of important steps that will serve as your marketing foundation:
Powerful mission statement. A mission statement addresses what your customers ultimately value and how your business will help them achieve that value. When writing your mission statement, assume your customers’ perspective and focus on their true-end goals. Then articulate this mission into a clear and concise statement.
Professional photographs. Regardless of your business, professionally shot, high-quality photographs of you, your team and products communicate success, confidence, professionalism and trust to your customers. Don’t scrimp on your professional image.
Easy-to-navigate website. Regardless of your industry, more people are researching products and services by visiting websites. Don’t disappoint your customers. Make sure you understand their needs, and ensure your website quickly points them to the information they seek. Your site should thoroughly explain your business, including hours of operation and contact information.
Personal brochure. A brochure is a professional summary of your products, services, experience and knowledge that you can give to potential customers. Make sure your benefit-driven brochure communicates to customers the full range of products and services you offer.
Up-to-date database. Your customer database is arguably your most important marketing tool. But to be effective, it needs to be maintained. Commit to regularly entering new customer information and updating existing records, as well as noting personal information (such as birthdays) that can help you connect with clients
All "Betts" on Brian! The Only Realtor you want!
Daily Quotes!
Daily Quotes Sept. 16 2010!
"If you would lift me up you must be on higher ground."
-- Ralph Waldo Emerson, Poet
"Think big thoughts, but relish small pleasures."
-- H. Jackson Brown, Author
"A stumbling block to the pessimist is a stepping stone to the optimist."
-- Eleanor Roosevelt, Former First Lady
"I just knew, even though I had not yet named the technique, that a gift with a purchase was very appealing."
-- Estee Lauder, cosmetics executive
"Great things are not something accidental, but must certainly be willed."
-- Vincent van Gogh, artist
All "Betts" on Brian! The Only Realtor you want!
"If you would lift me up you must be on higher ground."
-- Ralph Waldo Emerson, Poet
"Think big thoughts, but relish small pleasures."
-- H. Jackson Brown, Author
"A stumbling block to the pessimist is a stepping stone to the optimist."
-- Eleanor Roosevelt, Former First Lady
"I just knew, even though I had not yet named the technique, that a gift with a purchase was very appealing."
-- Estee Lauder, cosmetics executive
"Great things are not something accidental, but must certainly be willed."
-- Vincent van Gogh, artist
All "Betts" on Brian! The Only Realtor you want!
Wednesday, September 15, 2010
Daily Quotes!
Daily Quotes Sept. 15 2010!
"We cannot do everything at once, but we can do something at once."
-- Calvin Coolidge, 30th U.S. President
"To me success can only be achieved through repeated failure and
introspection. In fact, success represents 1% of your work that results
from the 99% that is called failure."
-- Soichiro Honda, car executive
"Satisfaction lies in the effort, not in the attainment. Full effort is
full victory."
-- Mahatma Gandhi, Statesman
"If you play to win, as I do, the game never ends."
-- Stan Mikita, hockey player
"Business is like a wheelbarrow - it stands still until someone pushes it."
-- Unknown
All "Betts" on Brian! The Only Realtor you want!
"We cannot do everything at once, but we can do something at once."
-- Calvin Coolidge, 30th U.S. President
"To me success can only be achieved through repeated failure and
introspection. In fact, success represents 1% of your work that results
from the 99% that is called failure."
-- Soichiro Honda, car executive
"Satisfaction lies in the effort, not in the attainment. Full effort is
full victory."
-- Mahatma Gandhi, Statesman
"If you play to win, as I do, the game never ends."
-- Stan Mikita, hockey player
"Business is like a wheelbarrow - it stands still until someone pushes it."
-- Unknown
All "Betts" on Brian! The Only Realtor you want!
Monday, September 13, 2010
Daily Quotes!
Daily Quotes Sept. 13 2010!
"Whatever you can do or dream you can, begin it. Boldness has genius,
power and magic in it."
-- Johann von Goethe
"If people knew how hard I worked to gain my mastery, it wouldn't seem
so wonderful."
-- Michelangelo, Artist
"The first one gets the oyster, the second gets the shell."
-- Andrew Carnegie, industrialist
"Risk! Risk anything! Care no more for the opinions of others, for those
voices. Do the hardest thing on earth for you. Act for yourself. Face
the truth."
-- Katherine Mansfield, author
"After investigating a problem in all directions, ideas come
unexpectedly, without effort, like an inspiration."
-- H.L. von Helmholtz
All "Betts" on Brian! The Only Realtor you want!
"Whatever you can do or dream you can, begin it. Boldness has genius,
power and magic in it."
-- Johann von Goethe
"If people knew how hard I worked to gain my mastery, it wouldn't seem
so wonderful."
-- Michelangelo, Artist
"The first one gets the oyster, the second gets the shell."
-- Andrew Carnegie, industrialist
"Risk! Risk anything! Care no more for the opinions of others, for those
voices. Do the hardest thing on earth for you. Act for yourself. Face
the truth."
-- Katherine Mansfield, author
"After investigating a problem in all directions, ideas come
unexpectedly, without effort, like an inspiration."
-- H.L. von Helmholtz
All "Betts" on Brian! The Only Realtor you want!
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