Oct Newsletter
Leaves are changing. The air is supposed to start getting cooler, home prices are low and rates are even lower (Below 4.25%)! It looks like nation wide home prices are 26% below what they were last year at this time! Let me ask you a question, and be honest, If you found out that the car you were looking at one year ago was 26% lower from what it was then, is now, wouldn’t you buy it? That’s what people are doing now, they are buying! In the last 30 days in just the County of Salt Lake 613 properties were sold! That is 613 people that sold their home and 613 buyers that bought homes! That is 1226 sides! What that means to me is that homes are selling and people are buying!
Only 1 out of 5 homes that sold were in distress of some kind, being a foreclosure or short sale. 4 out of 5 were people like you and me that just wanted to move and did! Remember, it is never as bad as the media makes it sound! Here is an interesting fact. Lenders started Foreclosure Proceedings on about 2.8 million homes last year, but the number or actual foreclosure sales was about 953,000! As Public Enemy states, “Don’t Believe the Hype”!
Please let me know if I can help you, your friends or family, anyone in your neighborhood or work that could use my knowledge and expertise!
I am an expert at getting homes sold, and as one of my buyer clients said just the other day, “A Bulldog” when it comes to helping you buy a home! Do the right thing and call me if you need anything!
You can also go to www.bettshomes.com and search out ALL the active listings in Utah 24/7! Call me and we can go look at these homes in person!
I am here to serve you! Enjoy the Newsletter!
Truly,
Brian E. Betts
All "Betts" on Brian! The Only Realtor You Want!
Keller Williams Utah Realtors
435-513-0973
betts@kw.com
www.brianebetts.com
Friday, October 1, 2010
What could you do with one more hour a day?
What could you do with one more hour a day?
What could you do with one more hour a day?
Summer's over, so it's back to school for the kids and back to business for the rest of us. As you take a look at what lies ahead, it's easy to come to the conclusion there simply isn't enough time to get everything you want accomplished. You can't squeeze one more day out of the week or one more week out of the year, but you can find an extra hour each day without much trouble at all.
How to find that extra hour.
The truth is, people spend much more time than they realize watching TV, entertaining themselves on the web, and sleeping more than they really need to. If you just try to cut down on the amount of time you spend on the couch or in bed, you can easily find yourself with an hour of time a day available to grow your business.
All it takes is for you to rethink your schedule a little, making simple changes to your usual patterns. Instead of hitting the snooze button, try getting up earlier. This lets you get a pile of work done before the phone starts ringing and the emails begin piling up. Early rising also lets you work with clients and contacts in time zones to the east of you, while it's still early in the day for them. Instead of watching TV, use that time to answer emails, rather than letting emails take up valuable work time during the day.
An extra hour a day for your business gives you an extra 20 hours of work each month, which adds up to 240 hours per year. That's 10 whole days, or two full work weeks. Just think of the value of that in dollars per hour!
What to do with that extra hour.
Read and learn how to do your job better and how to market yourself better. Dive into relevant information from trade associations. Take a look at what types of marketing your competition is doing. Find out more about how to use all the online and off-line ways to deliver your message. Look at your own marketing efforts, discard what isn't working, and try something you haven't done before.
Do the kind of serious strategic planning that will set up your growth for the future. Where is your business going? What kind of services should you add? Who else should you be targeting? Can you expand geographically? Where do you want to be in your business -- and in your life 5 years from now? -- 10 years from now?
Then start executing. Write an article to submit to local newspapers and industry websites. Update the content on your own website and add a new feature, such as a blog. Submit comments to other people's blogs that talk to your audience. Put together an email campaign that links to your blog or website. Come up with a tag line and put it on new business cards. Develop a direct mail list and think of a compelling offer you can send out on an inexpensive post card.
You'll be surprised at how much more you can get accomplished with just a few changes to your work habits and just a touch more discipline. Jump ahead of your competitors while they're still asleep...and make a lot more money with a lot less stress. Try it. And have a great month!
All "Betts" on Brian! The Only Realtor you want!
What could you do with one more hour a day?
Summer's over, so it's back to school for the kids and back to business for the rest of us. As you take a look at what lies ahead, it's easy to come to the conclusion there simply isn't enough time to get everything you want accomplished. You can't squeeze one more day out of the week or one more week out of the year, but you can find an extra hour each day without much trouble at all.
How to find that extra hour.
The truth is, people spend much more time than they realize watching TV, entertaining themselves on the web, and sleeping more than they really need to. If you just try to cut down on the amount of time you spend on the couch or in bed, you can easily find yourself with an hour of time a day available to grow your business.
All it takes is for you to rethink your schedule a little, making simple changes to your usual patterns. Instead of hitting the snooze button, try getting up earlier. This lets you get a pile of work done before the phone starts ringing and the emails begin piling up. Early rising also lets you work with clients and contacts in time zones to the east of you, while it's still early in the day for them. Instead of watching TV, use that time to answer emails, rather than letting emails take up valuable work time during the day.
An extra hour a day for your business gives you an extra 20 hours of work each month, which adds up to 240 hours per year. That's 10 whole days, or two full work weeks. Just think of the value of that in dollars per hour!
What to do with that extra hour.
Read and learn how to do your job better and how to market yourself better. Dive into relevant information from trade associations. Take a look at what types of marketing your competition is doing. Find out more about how to use all the online and off-line ways to deliver your message. Look at your own marketing efforts, discard what isn't working, and try something you haven't done before.
Do the kind of serious strategic planning that will set up your growth for the future. Where is your business going? What kind of services should you add? Who else should you be targeting? Can you expand geographically? Where do you want to be in your business -- and in your life 5 years from now? -- 10 years from now?
Then start executing. Write an article to submit to local newspapers and industry websites. Update the content on your own website and add a new feature, such as a blog. Submit comments to other people's blogs that talk to your audience. Put together an email campaign that links to your blog or website. Come up with a tag line and put it on new business cards. Develop a direct mail list and think of a compelling offer you can send out on an inexpensive post card.
You'll be surprised at how much more you can get accomplished with just a few changes to your work habits and just a touch more discipline. Jump ahead of your competitors while they're still asleep...and make a lot more money with a lot less stress. Try it. And have a great month!
All "Betts" on Brian! The Only Realtor you want!
New FHA MIP Fee Changes Take Effect October 4th
New FHA MIP Fee Changes Take Effect October 4th
Up Front MIP will decrease from 2.25% to 1%
Annual MIP will increase from .50/.55 to .85/.90 for terms greater than 15 yrs
FHA will make the premium fee changes on all new case numbers effective October 4, 2010. (In order to avoid the Annual MIP increase, your buyers will need an FHA case number assigned before October 4th.)
We are waiting to hear about changes to seller contribution limits. We will issue a Bulletin as soon as FHA makes the announcement.
What this Mans for you is that if you DON'T lock in before this date you will be paying about $40 more a month that will take you down in approval dollar by about $20,000! Lock in TODAY! That Mans we need to get a home under contract this weekend!
CALL ME NOW!
Thanks!
All "Betts" on Brian! The Only Realtor you want!
Up Front MIP will decrease from 2.25% to 1%
Annual MIP will increase from .50/.55 to .85/.90 for terms greater than 15 yrs
FHA will make the premium fee changes on all new case numbers effective October 4, 2010. (In order to avoid the Annual MIP increase, your buyers will need an FHA case number assigned before October 4th.)
We are waiting to hear about changes to seller contribution limits. We will issue a Bulletin as soon as FHA makes the announcement.
What this Mans for you is that if you DON'T lock in before this date you will be paying about $40 more a month that will take you down in approval dollar by about $20,000! Lock in TODAY! That Mans we need to get a home under contract this weekend!
CALL ME NOW!
Thanks!
All "Betts" on Brian! The Only Realtor you want!
For the week of September 27, 2010
INFO THAT HITS US WHERE WE LIVE
Market Update
As promised, last week's reports gave us a complete picture of the housing market in August. Housing Starts rose 10.5% month-over-month to a 598,000 annual rate, well ahead of the expected 550,000 number. Building Permits, which reflect builder sentiment further out, grew a more modest 1.8% month-over-month to a slightly smaller 569,000 annual rate. Thursday, Existing Home Sales came in UP 7.6% over July, at a 4.13 million annual rate. But let's remember, July was a record low, so this gain still left sales down 19% from August a year ago. The median price for Existing Homes, however, ticked up 0.8% year-over-year, as reported by the National Association of Realtors.
Friday saw New Home Sales for August come in unchanged from the previous month, meeting expectations at a 288,000 annual rate. The increases in Existing Home Sales and Housing Starts are welcome, as is the lack of a drop in New Home Sales. But sales are still at fairly weak levels. Observers feel that with the government tax credit, we had an artificial boost in home sales, so what followed was obviously an artificial low and we're now slowly climbing back toward normalcy.
Review of Last Week
FOUR IN A ROW... The stock market opened the week strongly, but then lost ground for three days before the bulls were back in control igniting a big rally on Friday, just shy of a 200 point gain for the day. This put stocks UP for the fourth straight week, with the Dow again nearing 11,000 and the broad-based S&P 500 hitting a four-month high.
It was a mixed bag of economic data once again. Housing numbers, covered above, were showing some signs of recovery, but then initial jobless claims grew to 465,000, higher than anticipated and indicating the labor market is still soft. The week ended with Durable Goods Orders down for August.
But the big event was the Federal Reserve meeting Tuesday. They left the fed funds rate unchanged as expected. They also kept policy statement language that says economic conditions are likely to keep the rate at exceptionally low levels for "an extended period." But they have now added that the Fed is prepared to provide additional accommodation if needed. Some think this is what sent stocks up, as investors felt they couldn't lose. If the economy improves, stocks will go up. If the economy stalls, the Fed will step in, so stocks will still go up! We'll see.
For the week, the Dow ended UP 2.4%, to 10860.26; the S&P 500 was UP 2.1%, to 1148.67; and the Nasdaq was UP 2.8%, to 2381.22.
Bonds were on the move up and down all week, and Friday was a down day as investors flocked to those rallying stocks. Yet for the week, the FNMA 30-year 4.0% bond we watch ended UP 8 basis points, closing at $102.17. Freddie Mac's weekly survey of national average mortgage rates reported fixed-rate mortgages not budging from their historically low levels.
This Week’s Forecast
CONSUMERS, Q2 GDP, INFLATION... Economic reports on the consumer's September mindset bookend the week, with Consumer Confidence expected off a tad on Tuesday but Michigan Consumer Sentiment up a fraction come Friday.
Thursday features the third estimate of Q2 GDP numbers, but no change is expected from the prior reading, which showed a slower 1.6% growth rate. Friday's Personal Spending and Core PCE Prices for August should reveal inflation still well under control.
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 The policy statement from last week's FOMC meeting preserved the language that the Fed would probably keep rates low for "an extended period." The statement also added that the central bank was ready to provide more accommodation if needed, so economists do not expect to see any change in the Fed funds rate well into next year. 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!
Market Update
As promised, last week's reports gave us a complete picture of the housing market in August. Housing Starts rose 10.5% month-over-month to a 598,000 annual rate, well ahead of the expected 550,000 number. Building Permits, which reflect builder sentiment further out, grew a more modest 1.8% month-over-month to a slightly smaller 569,000 annual rate. Thursday, Existing Home Sales came in UP 7.6% over July, at a 4.13 million annual rate. But let's remember, July was a record low, so this gain still left sales down 19% from August a year ago. The median price for Existing Homes, however, ticked up 0.8% year-over-year, as reported by the National Association of Realtors.
Friday saw New Home Sales for August come in unchanged from the previous month, meeting expectations at a 288,000 annual rate. The increases in Existing Home Sales and Housing Starts are welcome, as is the lack of a drop in New Home Sales. But sales are still at fairly weak levels. Observers feel that with the government tax credit, we had an artificial boost in home sales, so what followed was obviously an artificial low and we're now slowly climbing back toward normalcy.
Review of Last Week
FOUR IN A ROW... The stock market opened the week strongly, but then lost ground for three days before the bulls were back in control igniting a big rally on Friday, just shy of a 200 point gain for the day. This put stocks UP for the fourth straight week, with the Dow again nearing 11,000 and the broad-based S&P 500 hitting a four-month high.
It was a mixed bag of economic data once again. Housing numbers, covered above, were showing some signs of recovery, but then initial jobless claims grew to 465,000, higher than anticipated and indicating the labor market is still soft. The week ended with Durable Goods Orders down for August.
But the big event was the Federal Reserve meeting Tuesday. They left the fed funds rate unchanged as expected. They also kept policy statement language that says economic conditions are likely to keep the rate at exceptionally low levels for "an extended period." But they have now added that the Fed is prepared to provide additional accommodation if needed. Some think this is what sent stocks up, as investors felt they couldn't lose. If the economy improves, stocks will go up. If the economy stalls, the Fed will step in, so stocks will still go up! We'll see.
For the week, the Dow ended UP 2.4%, to 10860.26; the S&P 500 was UP 2.1%, to 1148.67; and the Nasdaq was UP 2.8%, to 2381.22.
Bonds were on the move up and down all week, and Friday was a down day as investors flocked to those rallying stocks. Yet for the week, the FNMA 30-year 4.0% bond we watch ended UP 8 basis points, closing at $102.17. Freddie Mac's weekly survey of national average mortgage rates reported fixed-rate mortgages not budging from their historically low levels.
This Week’s Forecast
CONSUMERS, Q2 GDP, INFLATION... Economic reports on the consumer's September mindset bookend the week, with Consumer Confidence expected off a tad on Tuesday but Michigan Consumer Sentiment up a fraction come Friday.
Thursday features the third estimate of Q2 GDP numbers, but no change is expected from the prior reading, which showed a slower 1.6% growth rate. Friday's Personal Spending and Core PCE Prices for August should reveal inflation still well under control.
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 The policy statement from last week's FOMC meeting preserved the language that the Fed would probably keep rates low for "an extended period." The statement also added that the central bank was ready to provide more accommodation if needed, so economists do not expect to see any change in the Fed funds rate well into next year. 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 National Association of Home Builders/Wells Fargo housing market index was unchanged in September at 13. An index reading below 50 indicates negative sentiment about the housing market.
The combined construction of new single-family homes and apartments in August rose 10.5% to a seasonally adjusted annual rate of 598,000 units. The increase was largely due to a boost in the construction of multi-family homes. Applications for new building permits, seen as an indicator of future activity, rose 1.8% to an annual rate of 569,000 units.
Existing home sales rose 7.6% in August to a seasonally adjusted annual rate of 4.13 million units from an upwardly revised 3.84 million units in July. The inventory of unsold homes on the market declined 0.6% to 3.98 million, an 11.6-month supply at the current sales pace, down from a 12.5-month supply in July.
The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose 0.3% in August after a 0.1% increase in July.
Orders for durable goods — items expected to last three or more years — fell 1.3% in August after increasing a revised 0.7% in July. Excluding volatile transportation-related goods, orders posted a monthly increase of 2%.
New home sales were unchanged in August at a seasonally adjusted annual rate of 288,000 units, matching July, which was revised up from 276,000. Economists had expected a pace of 290,000 units.
Initial claims for unemployment benefits rose by 12,000 to 465,000 for the week ending September 18. Continuing claims for the week ending September 11 fell by 48,000 to 4.49 million.
Upcoming on the economic calendar are reports on the housing price index on September 28 and construction spending on October 1.
All "Betts" on Brian! The Only Realtor you want!
The National Association of Home Builders/Wells Fargo housing market index was unchanged in September at 13. An index reading below 50 indicates negative sentiment about the housing market.
The combined construction of new single-family homes and apartments in August rose 10.5% to a seasonally adjusted annual rate of 598,000 units. The increase was largely due to a boost in the construction of multi-family homes. Applications for new building permits, seen as an indicator of future activity, rose 1.8% to an annual rate of 569,000 units.
Existing home sales rose 7.6% in August to a seasonally adjusted annual rate of 4.13 million units from an upwardly revised 3.84 million units in July. The inventory of unsold homes on the market declined 0.6% to 3.98 million, an 11.6-month supply at the current sales pace, down from a 12.5-month supply in July.
The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose 0.3% in August after a 0.1% increase in July.
Orders for durable goods — items expected to last three or more years — fell 1.3% in August after increasing a revised 0.7% in July. Excluding volatile transportation-related goods, orders posted a monthly increase of 2%.
New home sales were unchanged in August at a seasonally adjusted annual rate of 288,000 units, matching July, which was revised up from 276,000. Economists had expected a pace of 290,000 units.
Initial claims for unemployment benefits rose by 12,000 to 465,000 for the week ending September 18. Continuing claims for the week ending September 11 fell by 48,000 to 4.49 million.
Upcoming on the economic calendar are reports on the housing price index on September 28 and construction spending on October 1.
All "Betts" on Brian! The Only Realtor you want!
Housing Market Snapshot
Housing Market Snapshot
According to the National Association of Realtors, pending home sales bounced back after two months of decline. This forward-looking indicator, based on signed contracts, rose 5.2% in July after a 2.8% decrease in June and a 30% decline in May.
New home sales on a seasonally adjusted annual rate are averaging approximately 300,000 units a month. That’s down approximately 70% from the peak levels in mid-2005. Existing home sales, which make up more than 90% of the market, are down approximately 30% from peak levels in mid-2005. Annual sales are expected to reach 5 million in 2010 because of strong activity in the first half of the year.
According to the Standard & Poor’s/Case-Shiller housing price index, home prices are 6% above the April 2009 bottom but 28% below their peak in July 2006.
The Housing Affordability Index showed that 72.3% of all homes sold in the second quarter of 2010 were affordable to families earning the median income of $64,000.
Interest rates have been falling since April as investors sought safety in Treasury bonds. That has lowered their yields, which mortgage rates tend to track. The low rates have fueled a wave of refinancing. In late August, refinancing made up 82.9% of total loan applications, the highest level since January 2009.
The low interest rates have not provided a boost in home sales. Home sales are being held back by unemployment. There were 8.4 million jobs lost in 2008 and 2009, approximately 7% of all jobs at the start of the recession. That compares to a loss of 3.1% of jobs during the 2001 recession and 1.9% of jobs lost during the 1990-1991 recession.
All "Betts" on Brian! The Only Realtor you wnat!
According to the National Association of Realtors, pending home sales bounced back after two months of decline. This forward-looking indicator, based on signed contracts, rose 5.2% in July after a 2.8% decrease in June and a 30% decline in May.
New home sales on a seasonally adjusted annual rate are averaging approximately 300,000 units a month. That’s down approximately 70% from the peak levels in mid-2005. Existing home sales, which make up more than 90% of the market, are down approximately 30% from peak levels in mid-2005. Annual sales are expected to reach 5 million in 2010 because of strong activity in the first half of the year.
According to the Standard & Poor’s/Case-Shiller housing price index, home prices are 6% above the April 2009 bottom but 28% below their peak in July 2006.
The Housing Affordability Index showed that 72.3% of all homes sold in the second quarter of 2010 were affordable to families earning the median income of $64,000.
Interest rates have been falling since April as investors sought safety in Treasury bonds. That has lowered their yields, which mortgage rates tend to track. The low rates have fueled a wave of refinancing. In late August, refinancing made up 82.9% of total loan applications, the highest level since January 2009.
The low interest rates have not provided a boost in home sales. Home sales are being held back by unemployment. There were 8.4 million jobs lost in 2008 and 2009, approximately 7% of all jobs at the start of the recession. That compares to a loss of 3.1% of jobs during the 2001 recession and 1.9% of jobs lost during the 1990-1991 recession.
All "Betts" on Brian! The Only Realtor you wnat!
Daily Quotes!
Daily Quotes Oct. 1 2010!
"The greater danger for most of us lies not in setting our aim too high
and falling short, but in setting our aim too low and achieving our
mark."
-- Michelangelo, Artist
"In business, words are words, explanations are explanations, promises
are promises, but only performance is reality."
-- Harold Geneen, industrialist
"What would be the use of immortality to a person who cannot use well a
half an hour?"
-- Ralph Waldo Emerson, poet
"Everything you reprove in another, you must carefully avoid in
yourself."
-- Marcus Tullius Cicero, statesman
"To succeed in life in today's world, you must have the will and
tenacity to finish the job."
-- Chin-Ning Chu
All "Betts" on Brian! The Only Realtor you want!
"The greater danger for most of us lies not in setting our aim too high
and falling short, but in setting our aim too low and achieving our
mark."
-- Michelangelo, Artist
"In business, words are words, explanations are explanations, promises
are promises, but only performance is reality."
-- Harold Geneen, industrialist
"What would be the use of immortality to a person who cannot use well a
half an hour?"
-- Ralph Waldo Emerson, poet
"Everything you reprove in another, you must carefully avoid in
yourself."
-- Marcus Tullius Cicero, statesman
"To succeed in life in today's world, you must have the will and
tenacity to finish the job."
-- Chin-Ning Chu
All "Betts" on Brian! The Only Realtor you want!
Wednesday, September 29, 2010
Daily Quotes!
Daily Quotes Sept. 29 2010!
"Character - the willingness to accept responsibility for one's own life
- is the source from which self-respect springs."
-- Joan Didion
"All great and honorable actions are accompanied with great
difficulties."
-- William Bradford
"Never let yesterday use up too much of today."
-- Will Rogers, humorist
"In calm water every ship has a good captain."
-- Grover Cleveland, 22nd and 24th U.S. President
"You have to believe in yourself, that's the secret. Even when I was in
the orphanage, when I was roaming the street trying to find enough to
eat, even then I thought of myself as the greatest actor in the world."
-- Charlie Chaplin, Actor
All "Betts" on Brian! The Only Realtor you want!
"Character - the willingness to accept responsibility for one's own life
- is the source from which self-respect springs."
-- Joan Didion
"All great and honorable actions are accompanied with great
difficulties."
-- William Bradford
"Never let yesterday use up too much of today."
-- Will Rogers, humorist
"In calm water every ship has a good captain."
-- Grover Cleveland, 22nd and 24th U.S. President
"You have to believe in yourself, that's the secret. Even when I was in
the orphanage, when I was roaming the street trying to find enough to
eat, even then I thought of myself as the greatest actor in the world."
-- Charlie Chaplin, Actor
All "Betts" on Brian! The Only Realtor you want!
Tuesday, September 28, 2010
Daily Quotes!
Daily Quotes Sept. 28 2010!
"Losing is a learning experience. It teaches you humility. It teaches
you to work harder. It's also a powerful motivator."
-- Yogi Berra
"The history of the world is full of men who rose to leadership by sheer
force of self-confidence, bravery, and tenacity."
-- Mahatma Gandhi, Statesman
"Careful planning helps us maintain a sense of perspective, purpose and
ordered priorities."
-- Stephen Covey, Author and Speaker
"The shifts of fortune test the reliability of friends."
-- Marcus Tullius Cicero, statesman
"Success is 99 percent failure."
-- Soichire Honda
All "Betts" on Brian! The Only Realtor you want!
"Losing is a learning experience. It teaches you humility. It teaches
you to work harder. It's also a powerful motivator."
-- Yogi Berra
"The history of the world is full of men who rose to leadership by sheer
force of self-confidence, bravery, and tenacity."
-- Mahatma Gandhi, Statesman
"Careful planning helps us maintain a sense of perspective, purpose and
ordered priorities."
-- Stephen Covey, Author and Speaker
"The shifts of fortune test the reliability of friends."
-- Marcus Tullius Cicero, statesman
"Success is 99 percent failure."
-- Soichire Honda
All "Betts" on Brian! The Only Realtor you want!
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