Daily Quotes Feb. 3 2011!
"Successful people form the habit of doing what failures don't like to do. They like the results they get by doing what they don't necessarily enjoy. "
-- Earl Nightingale, Motivational Speaker
"Success depends on getting good at saying no without feeling guilty. You cannot get ahead with your own goals if you are always saying yes to someone else's projects. You can only get ahead with your desired lifestyle if you are focused on the things that will produce that lifestyle."
-- Jack Canfield, Success Coach
"A clear vision, backed by definite plans, gives you a tremendous
feeling of confidence and personal power."
-- Brian Tracy, Author
"Do not wait; the time will never be "just right." Start where you stand, and work with whatever tools you may have at your command, and better tools will be found as you go along."
-- Napoleon Hill, Writer
"In the absence of clearly-defined goals, we become strangely loyal to
performing daily trivia until ultimately we become enslaved by it."
-- Robert Heinlein
All "Betts" on Brian! The Only Realtor you Want!
Thursday, February 3, 2011
Wednesday, February 2, 2011
LOAN MODIFICATION SCAMS
LOAN MODIFICATION SCAMS
It is obvious that the scammers are very active right now. They have many ways to take advantage of desperate and distressed homeowners in today's real estate market. One of the best things a homeowner can do to protect him or herself from these scammers is to work with a licensed professional. Mortgage and real estate licensees are trained in how to help homeowners who face these very problems. As your Real Estate agent, please know that I am available for questions.
Here is a list of simple things homeowners can do to protect themselves:
Make sure that the loan modification company is • licensed with the Division of Real Estate.
Do not work with any individual or company that is not licensed.
Talk to your lender or servicer directly. Let your lender know your problems, and discuss ways you might resolve the issues
Never make your mortgage payment to a third party.
Do not pay an up-front fee. Do not pay any • fees until you receive a written offer from your lender or servicer for modified loan terms.
Do not stop making your mortgage payments. • Doing so will put you closer to foreclosure.
Do not sign a quit claim deed to another property.•
Do not sign any documents in blank. • Make sure your read what you sign.
If you think you are being scammed, file a complaint with the Division of Real Estate.
If you need some REAL advise, Call Me!
Your friend in real estate,
Brian E. Betts
All "Betts" on Brian! The Only Realtor you Want!
It is obvious that the scammers are very active right now. They have many ways to take advantage of desperate and distressed homeowners in today's real estate market. One of the best things a homeowner can do to protect him or herself from these scammers is to work with a licensed professional. Mortgage and real estate licensees are trained in how to help homeowners who face these very problems. As your Real Estate agent, please know that I am available for questions.
Here is a list of simple things homeowners can do to protect themselves:
Make sure that the loan modification company is • licensed with the Division of Real Estate.
Do not work with any individual or company that is not licensed.
Talk to your lender or servicer directly. Let your lender know your problems, and discuss ways you might resolve the issues
Never make your mortgage payment to a third party.
Do not pay an up-front fee. Do not pay any • fees until you receive a written offer from your lender or servicer for modified loan terms.
Do not stop making your mortgage payments. • Doing so will put you closer to foreclosure.
Do not sign a quit claim deed to another property.•
Do not sign any documents in blank. • Make sure your read what you sign.
If you think you are being scammed, file a complaint with the Division of Real Estate.
If you need some REAL advise, Call Me!
Your friend in real estate,
Brian E. Betts
All "Betts" on Brian! The Only Realtor you Want!
For the week of January 24, 2011
For the week of January 24, 2011
INFO THAT HITS US WHERE WE LIVE
Market Update
Thursday saw Existing Home Sales shoot up 12.3% in December, to an annual rate of 5.28 million, well ahead of the 4.87 million rate the consensus expected. Overall, existing home sales are off 2.9% compared to a year ago, but that's when sales were artificially boosted by the homebuyer tax credits. All regions showed sales gains in single family homes, condos and coops.
The supply of existing homes dropped to 8.1 months from 9.5 months in November. The pace of existing home sales is up 38% since July and sales are now only around 5% off the long-term trend, which has been a 5.5 million annual pace. All this has happened without government tax credit support. Smart buyers don't want to miss out on housing affordability that's at its highest level in 40 years.
Earlier in the week we saw housing starts drop 4.3% for December to a 529,000 unit annual rate. But colder temperatures and more snow than usual slowed starts in many parts of the country. Home completions actually increased for the month, while building permits shot up a strong 16.7%, to a 635,000 annual rate. We're not out of the woods yet, as permits are off 6.8% from a year ago and starts are down 8.2% compared to last year.
Review of Last Week
SHORT WEEK FALLS SHORT... The holiday shortened week ended its four days of trading with only the Dow ahead, the S&P 500 and the Nasdaq both dropping a bit. What bothered investors were some Q4 corporate earnings that fell short, plus more worries that China will hike its interest rates to cool down an overheating economy, already growing at about a 10% annual rate.
Earnings disappointments included a couple of the big financials, although three others in the sector beat expectations. Beyond that, General Electric, IBM, and Google all reported strong, better than expected Q4 earnings. GE even went so far as to forecast increasing profits in the years ahead. Apple then showed up to hit the ball out of the park with Q4 revenues up 70.5% year over year, blowing estimates out of the water with ease. But it was unfortunate to learn that Apple CEO Steve Jobs is taking another indefinite leave to deal with health challenges.
The Empire State Index, which gauges manufacturing in New York, grew to 11.9 in January from 9.9 the previous month, reflecting manufacturing gains across the country. New weekly unemployment claims dropped by 37,000, putting the four-week moving average at 412,000, its lowest level since July 2008. Meanwhile, continuing claims dropped to 3.86 million, their lowest number since October 2008. The Philadelphia Fed Index of manufacturing activity in that region was down in January, but the Leading Economic Indicators (LEI) index was up, better than expected.
For the week, the Dow ended up 0.7%, at 11872; the S&P 500 was off 0.8%, to 1283; and the Nasdaq dropped 2.4%, ending at 2690.
Bonds were under pressure last week, with yields going up as prices headed down. The FNMA 4.0% bond we watch ended down 83 basis points for the week, closing at $98.31. According to Freddie Mac's weekly survey of conforming mortgages, average fixed-rate mortgage rates changed little, remaining at super low levels. Tame inflation is the reason, with core consumer prices compared to December 2009 up a paltry 0.8%, their smallest yearly gain since 1958.
This Week’s Forecast
THE FED, PLUS OUR FAVORITE TOPIC... There's another Fed meeting this week to grab everyone's attention, but no one expects a hike in the Funds Rate quite yet. The FOMC statement will be closely examined to see how the nation's central bank views our economic recovery. The housing part of that recovery will also be covered with Wednesday's December New Home Sales, expected to be up slightly from the prior month. But Thursday's Pending Home Sales for November should be down slightly for existing homes.
The week is bookended with readings on the consumer. Tuesday's Consumer Confidence and Friday's Michigan Consumer Sentiment are both forecast to be improving in January. Finally, we close the week with the advanced Q4 GDP number, expected to come in at a solid 3.8% annual growth rate.
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 Rumblings have begun that the Fed is sure to hike the Funds Rate in the second half of the year. But with inflation still well under control, economists do not expect any rate increases for the next few months. 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
Thursday saw Existing Home Sales shoot up 12.3% in December, to an annual rate of 5.28 million, well ahead of the 4.87 million rate the consensus expected. Overall, existing home sales are off 2.9% compared to a year ago, but that's when sales were artificially boosted by the homebuyer tax credits. All regions showed sales gains in single family homes, condos and coops.
The supply of existing homes dropped to 8.1 months from 9.5 months in November. The pace of existing home sales is up 38% since July and sales are now only around 5% off the long-term trend, which has been a 5.5 million annual pace. All this has happened without government tax credit support. Smart buyers don't want to miss out on housing affordability that's at its highest level in 40 years.
Earlier in the week we saw housing starts drop 4.3% for December to a 529,000 unit annual rate. But colder temperatures and more snow than usual slowed starts in many parts of the country. Home completions actually increased for the month, while building permits shot up a strong 16.7%, to a 635,000 annual rate. We're not out of the woods yet, as permits are off 6.8% from a year ago and starts are down 8.2% compared to last year.
Review of Last Week
SHORT WEEK FALLS SHORT... The holiday shortened week ended its four days of trading with only the Dow ahead, the S&P 500 and the Nasdaq both dropping a bit. What bothered investors were some Q4 corporate earnings that fell short, plus more worries that China will hike its interest rates to cool down an overheating economy, already growing at about a 10% annual rate.
Earnings disappointments included a couple of the big financials, although three others in the sector beat expectations. Beyond that, General Electric, IBM, and Google all reported strong, better than expected Q4 earnings. GE even went so far as to forecast increasing profits in the years ahead. Apple then showed up to hit the ball out of the park with Q4 revenues up 70.5% year over year, blowing estimates out of the water with ease. But it was unfortunate to learn that Apple CEO Steve Jobs is taking another indefinite leave to deal with health challenges.
The Empire State Index, which gauges manufacturing in New York, grew to 11.9 in January from 9.9 the previous month, reflecting manufacturing gains across the country. New weekly unemployment claims dropped by 37,000, putting the four-week moving average at 412,000, its lowest level since July 2008. Meanwhile, continuing claims dropped to 3.86 million, their lowest number since October 2008. The Philadelphia Fed Index of manufacturing activity in that region was down in January, but the Leading Economic Indicators (LEI) index was up, better than expected.
For the week, the Dow ended up 0.7%, at 11872; the S&P 500 was off 0.8%, to 1283; and the Nasdaq dropped 2.4%, ending at 2690.
Bonds were under pressure last week, with yields going up as prices headed down. The FNMA 4.0% bond we watch ended down 83 basis points for the week, closing at $98.31. According to Freddie Mac's weekly survey of conforming mortgages, average fixed-rate mortgage rates changed little, remaining at super low levels. Tame inflation is the reason, with core consumer prices compared to December 2009 up a paltry 0.8%, their smallest yearly gain since 1958.
This Week’s Forecast
THE FED, PLUS OUR FAVORITE TOPIC... There's another Fed meeting this week to grab everyone's attention, but no one expects a hike in the Funds Rate quite yet. The FOMC statement will be closely examined to see how the nation's central bank views our economic recovery. The housing part of that recovery will also be covered with Wednesday's December New Home Sales, expected to be up slightly from the prior month. But Thursday's Pending Home Sales for November should be down slightly for existing homes.
The week is bookended with readings on the consumer. Tuesday's Consumer Confidence and Friday's Michigan Consumer Sentiment are both forecast to be improving in January. Finally, we close the week with the advanced Q4 GDP number, expected to come in at a solid 3.8% annual growth rate.
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 Rumblings have begun that the Fed is sure to hike the Funds Rate in the second half of the year. But with inflation still well under control, economists do not expect any rate increases for the next few months. 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!
Daily Quotes Feb. 2 2011!
Daily Quotes Feb. 2 2011!
"Freedom lies in being bold."
-- Robert Frost, poet
"When you find yourself stressed, ask yourself one question: Will this
matter five years from now? If yes, then do something about the
situation. If no, then let it go."
-- Catherine Pulsifer, writer
"The wisest mind has something yet to learn."
-- George Santayana, Philosopher
"Genius is 1% inspiration and 99% perspiration. Accordingly a genius is
often merely a talented person who has done all of his or her homework."
-- Thomas Edison, Inventor
"High achievement always takes place in the framework of high expectation."
-- Charles Kettering, Inventor
All "Betts" on Brian! The Only Realtor you want!
"Freedom lies in being bold."
-- Robert Frost, poet
"When you find yourself stressed, ask yourself one question: Will this
matter five years from now? If yes, then do something about the
situation. If no, then let it go."
-- Catherine Pulsifer, writer
"The wisest mind has something yet to learn."
-- George Santayana, Philosopher
"Genius is 1% inspiration and 99% perspiration. Accordingly a genius is
often merely a talented person who has done all of his or her homework."
-- Thomas Edison, Inventor
"High achievement always takes place in the framework of high expectation."
-- Charles Kettering, Inventor
All "Betts" on Brian! The Only Realtor you want!
Tuesday, February 1, 2011
Daily Quotes Feb. 1 2011!
Daily Quotes Feb. 1 2011!
"Your own resolution to succeed is more important than any other one thing."
-- Abraham Lincoln, 16th U.S. president
"You do not succeed because you do not know what you want or you don't want it intensely enough."
-- Frank Crane, Minister
"I have found that being honest is the best technique I can use. Right
upfront, tell people what you're trying to accomplish and what you're
willing to sacrifice to accomplish it."
-- Lee Iacocca, executive
"You need to overcome the tug of people against you as you reach for high goals."
-- George Patton, General
"The key to successful leadership today is influence, not authority."
-- Kenneth Blanchard, writer
All "Betts" on Brian! The Only Realtor you Want!
"Your own resolution to succeed is more important than any other one thing."
-- Abraham Lincoln, 16th U.S. president
"You do not succeed because you do not know what you want or you don't want it intensely enough."
-- Frank Crane, Minister
"I have found that being honest is the best technique I can use. Right
upfront, tell people what you're trying to accomplish and what you're
willing to sacrifice to accomplish it."
-- Lee Iacocca, executive
"You need to overcome the tug of people against you as you reach for high goals."
-- George Patton, General
"The key to successful leadership today is influence, not authority."
-- Kenneth Blanchard, writer
All "Betts" on Brian! The Only Realtor you Want!
Monday, January 31, 2011
Daily Quotes Jan. 31 2011!
Daily Quotes Jan. 31 2011!
"Hope works in these ways: it looks for the good in people instead of harping on the worst; it discovers what can be done instead of grumbling about what cannot; it regards problems, large or small, as opportunities; it pushes ahead when it would be easy to quit; it "lights the candle" instead of "cursing the darkness.""
Anonymous
"I feel that the greatest reward for doing is the opportunity to do more."
Jonas Salk, virologist
"A clear vision, backed by definite plans, gives you a tremendous feeling of confidence and personal power."
Brian Tracy, Author
"Create a definite plan for carrying out your desire and begin at once, whether you ready or not, to put this plan into action."
Napolean Hill, Motivational Writer
"A successful life is one that is lived through understanding and pursuing one's own path, not chasing after the dreams of others."
Chin-Ning Chu, Strategist
All "Betts" on Brian! The Only Realtor you want!
"Hope works in these ways: it looks for the good in people instead of harping on the worst; it discovers what can be done instead of grumbling about what cannot; it regards problems, large or small, as opportunities; it pushes ahead when it would be easy to quit; it "lights the candle" instead of "cursing the darkness.""
Anonymous
"I feel that the greatest reward for doing is the opportunity to do more."
Jonas Salk, virologist
"A clear vision, backed by definite plans, gives you a tremendous feeling of confidence and personal power."
Brian Tracy, Author
"Create a definite plan for carrying out your desire and begin at once, whether you ready or not, to put this plan into action."
Napolean Hill, Motivational Writer
"A successful life is one that is lived through understanding and pursuing one's own path, not chasing after the dreams of others."
Chin-Ning Chu, Strategist
All "Betts" on Brian! The Only Realtor you want!
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