Here's an alarming fact about Sacramento's housing market: About one of every five existing homes on the market is a "short sale." That means the home is worth less than the value of the mortgage, and the lender is willing to accept less than full repayment of the loan to avoid foreclosure, says Tracey Saizan, president of the Sacramento Association of Realtors.
That, in turn, puts pressure on the remaining 80% of sellers, who have equity in their homes, to cut prices. The median price in the state capital, one of the most overheated metro areas during the real estate boom, fell 4.3% in December compared with December 2005.
"Sellers are having to give concessions and cut prices," Saizan says. "It's all about making the house show the best it can and aggressive pricing."
Though there's only a 4.3-month supply of homes for sale — a bit lower than the long-term average — that figure doesn't include the 3.5-month stock of unsold new homes that are also on the market, especially in some suburbs.
New-home sales in the fourth quarter were up nearly 57%, but that was compared with a dismal quarter at the end of 2005, according to The Gregory Group, a new home information and consulting firm. The median new home price fell 4.7% to $434,990, which doesn't take account of all the free goodies that builders are giving away, such as kitchen upgrades.
Still, builders are now seeing a decline in the number of buyers who are canceling their purchase contracts. "There is a sense that we are going through the tunnel, and the light at the other end is sunshine, not another train heading at us," says Greg Paquin of The Gregory Group.
Now you see my point of all this? Exactly the title of the article.
Give me a call, let's look at what we are going to do to help your
financial needs.
-Christopher Rockey
916.799.8472
Tuesday, April 17, 2007
Learn how to pay off your mortgage by managing your interest
WHAT WOULD YOU DO IF YOU NO LONGER HAD A MORTGAGE PAYMENT?
Take more vacations? Purchase investment property?
Start your own business? Retire?
1) WHAT THIS ISN’T: This is not another mortgage offer or program which let’s face it…we are all sick of seeing in our mailboxes. This is not a bi-weekly payment plan or a program that requires you to come up with extra money to add to your principal. This is not a scam or illegal scheme. This is not a program that requires you to change your existing mortgage payment or refinance.
We appreciate you taking the time to actually read this. We know how busy you are.
THIS COULD CHANGE YOU AND YOUR FAMILIES FINANCIAL FUTURE.
2) WHAT THIS IS: Through an innovative program called the Money Merge Account or MMA, homeowners across the nation are paying off their 30-year mortgage in an average of 8 to 10 years or less without refinancing their existing mortgage…without increasing their monthly mortgage payments, and without any lifestyle changes. This is an interest-reducing program which combines innovative web-based software with banking systems that have been around for decades. This is a tool provides homeowners with one personalized easy-to-use online tool which when used an average of 10-minutes per month allows you the greatest time and interest savings imaginable. It’s simple…instead of the bank or your lender tying up your mortgage for 30-years with outrageous interest charges…this is you becoming the bank. In fact you may be surprised to learn that although this is new to the U.S., similar interest-reduction programs have been used in Australia, England and other areas for over 18 years now. Yes, that’s correct; many homeowners in other countries ACTUALLY own their homes 100% free and clear by making the same monthly payments that we do every day in the U.S….yet they pay them off in 1/3 to ½ the time.
Instead of your money just sitting in your checking or savings accounts waiting for you to pay expenses, the MMA program actually puts your money to work every minute it is in your account…significantly reducing interest on your mortgage. The MMA program consists of three main components: 1) your primary mortgage, 2) an advanced line of credit, 3) MMA online software.
The MMA works virtually just like your standard checking and savings account, except that it has the ability to offset large portions of interest on your mortgage each time you deposit income into your account. With the MMA only you have access to your money through checks, debits cards and ATM. The MMA is 100% secure, 128-bit encrypted, easy-to-use web-based system which allows you to monitor your account and interest savings 24 hours a day, 7 days a week. And again, the only person that has access to your money is you.
Sounds too good to be true?
Put meo the test. Call me at 916.799.8472 for a free, no obligation quote.
When I statred using this software I bought it just to get a friend off my back.
As it turns out, I am going to $218,000 in interest payments. That is the equivelant
of borrowing $300,000 on a 30 year fixed mortgage with a 2.57% interest rate.
-Christopher Rockey
916.799.8472
Take more vacations? Purchase investment property?
Start your own business? Retire?
1) WHAT THIS ISN’T: This is not another mortgage offer or program which let’s face it…we are all sick of seeing in our mailboxes. This is not a bi-weekly payment plan or a program that requires you to come up with extra money to add to your principal. This is not a scam or illegal scheme. This is not a program that requires you to change your existing mortgage payment or refinance.
We appreciate you taking the time to actually read this. We know how busy you are.
THIS COULD CHANGE YOU AND YOUR FAMILIES FINANCIAL FUTURE.
2) WHAT THIS IS: Through an innovative program called the Money Merge Account or MMA, homeowners across the nation are paying off their 30-year mortgage in an average of 8 to 10 years or less without refinancing their existing mortgage…without increasing their monthly mortgage payments, and without any lifestyle changes. This is an interest-reducing program which combines innovative web-based software with banking systems that have been around for decades. This is a tool provides homeowners with one personalized easy-to-use online tool which when used an average of 10-minutes per month allows you the greatest time and interest savings imaginable. It’s simple…instead of the bank or your lender tying up your mortgage for 30-years with outrageous interest charges…this is you becoming the bank. In fact you may be surprised to learn that although this is new to the U.S., similar interest-reduction programs have been used in Australia, England and other areas for over 18 years now. Yes, that’s correct; many homeowners in other countries ACTUALLY own their homes 100% free and clear by making the same monthly payments that we do every day in the U.S….yet they pay them off in 1/3 to ½ the time.
Instead of your money just sitting in your checking or savings accounts waiting for you to pay expenses, the MMA program actually puts your money to work every minute it is in your account…significantly reducing interest on your mortgage. The MMA program consists of three main components: 1) your primary mortgage, 2) an advanced line of credit, 3) MMA online software.
The MMA works virtually just like your standard checking and savings account, except that it has the ability to offset large portions of interest on your mortgage each time you deposit income into your account. With the MMA only you have access to your money through checks, debits cards and ATM. The MMA is 100% secure, 128-bit encrypted, easy-to-use web-based system which allows you to monitor your account and interest savings 24 hours a day, 7 days a week. And again, the only person that has access to your money is you.
Sounds too good to be true?
Put meo the test. Call me at 916.799.8472 for a free, no obligation quote.
When I statred using this software I bought it just to get a friend off my back.
As it turns out, I am going to $218,000 in interest payments. That is the equivelant
of borrowing $300,000 on a 30 year fixed mortgage with a 2.57% interest rate.
-Christopher Rockey
916.799.8472
Wednesday, April 11, 2007
What A Full Time Realtor / Loan Officer Needs To Know:
I did not start writing with the intent of being asked all the time "How Do You Do It?"
These are my 5 steps to success, enjoy.
How to Make Money in Real Estate
5 Steps:
Make A Living
In real estate it’s all about “location, location, location”
….in business it’s all about “cash-flow, cash-flow, cash-flow”.
Put systems in place.
Have separate business and personal checking accounts.
Pay yourself an after tax salary (putting aside1/3 for taxes is a good rule of thumb….note: IRS compounds interest daily).
When you have cash, but no cash flow, it’s better to borrow from yourself (savings/reserves) than on credit….but you must pay yourself back!!
Create A Surplus
The first place to create a business surplus is in your home budget - make cuts at home.
Get a budget booklet and keep it with you. Having it in your presence influences your thinking. It makes you aware and triggers your subconscious mind.
ATM card – use it for all of the “little stuff”. You will become more cognoscente of how much you are spending on the little stuff…it adds up.
Invest in peace of mind – put reserves into a savings account. Remember, when we are fearful, we make bad decisions.
Proper expectation: To save 1 month of reserve (at approximately $5K/mo. expense) it will take 1 year after you put away for taxes. Saving the first month of reserve is the hardest, but it does become easier.
Invest In Your Business
When your cash flow increases…you should increase your surplus from 1 month of reserves to 2 months, 3 months, and so on.
Invest in your business by giving yourself a break. Example: Hire a housekeeper or an assistant (hiring an assistant can duplicate your time). All of those things to do…”life stuff”…may have to do with how tired you might feel. The emotional payoff just might inspire you to make calls, write notes and do your client pop-bys.
Consider forming a team
Invest/Grow. Your business needs to be fed economically. Consider client parties, coaching, seminars, etc.
Continually analyze yourself and your growth opportunities.
Take Chips Off The Table
Use cash to reinvest in other opportunities to create wealth.
Taxation/Inflation – compounding interest. You are taxed on earnings, dividends & what you pass on after death. Inflation increases 3% on average (picture a water bottle with a 3% hole…eventually it will be empty). Inflation: If it currently costs you $125K a year to live today, then in order to live the same lifestyle 25 years from now, you’d need $ 250K a year.
Do diligent homework & research….then invest!
Separate Your Personal Finances From Your Business Finances
Run your investments as a separate business
Insulate yourself – you’ll make good decisions (Example: The market change)
Keeping business finances separate from family finances makes them both better
Great Points to Keep In Mind:
To start the process of working by referral….you need to generate leads.
Working by referral is a system. It is both simple and complex…simple to understand, but not to do.
2.25 written notes a day to clients, equals 50 each month. Take it one day at a time.
Create a tracking component – you can’t manage what you can’t measure.
Some of the top people in business invest 8 – 10% of their income into their business (example: coaching, seminars, etc.).
When you pay for personal growth….you value it more.
“Excellence is doing the best you can, with what you have, in the time frame allowed.”
“Success is not by chance…it’s by choice. Fortunes are made with the little choices.”
These are my 5 steps to success, enjoy.
How to Make Money in Real Estate
5 Steps:
Make A Living
In real estate it’s all about “location, location, location”
….in business it’s all about “cash-flow, cash-flow, cash-flow”.
Put systems in place.
Have separate business and personal checking accounts.
Pay yourself an after tax salary (putting aside1/3 for taxes is a good rule of thumb….note: IRS compounds interest daily).
When you have cash, but no cash flow, it’s better to borrow from yourself (savings/reserves) than on credit….but you must pay yourself back!!
Create A Surplus
The first place to create a business surplus is in your home budget - make cuts at home.
Get a budget booklet and keep it with you. Having it in your presence influences your thinking. It makes you aware and triggers your subconscious mind.
ATM card – use it for all of the “little stuff”. You will become more cognoscente of how much you are spending on the little stuff…it adds up.
Invest in peace of mind – put reserves into a savings account. Remember, when we are fearful, we make bad decisions.
Proper expectation: To save 1 month of reserve (at approximately $5K/mo. expense) it will take 1 year after you put away for taxes. Saving the first month of reserve is the hardest, but it does become easier.
Invest In Your Business
When your cash flow increases…you should increase your surplus from 1 month of reserves to 2 months, 3 months, and so on.
Invest in your business by giving yourself a break. Example: Hire a housekeeper or an assistant (hiring an assistant can duplicate your time). All of those things to do…”life stuff”…may have to do with how tired you might feel. The emotional payoff just might inspire you to make calls, write notes and do your client pop-bys.
Consider forming a team
Invest/Grow. Your business needs to be fed economically. Consider client parties, coaching, seminars, etc.
Continually analyze yourself and your growth opportunities.
Take Chips Off The Table
Use cash to reinvest in other opportunities to create wealth.
Taxation/Inflation – compounding interest. You are taxed on earnings, dividends & what you pass on after death. Inflation increases 3% on average (picture a water bottle with a 3% hole…eventually it will be empty). Inflation: If it currently costs you $125K a year to live today, then in order to live the same lifestyle 25 years from now, you’d need $ 250K a year.
Do diligent homework & research….then invest!
Separate Your Personal Finances From Your Business Finances
Run your investments as a separate business
Insulate yourself – you’ll make good decisions (Example: The market change)
Keeping business finances separate from family finances makes them both better
Great Points to Keep In Mind:
To start the process of working by referral….you need to generate leads.
Working by referral is a system. It is both simple and complex…simple to understand, but not to do.
2.25 written notes a day to clients, equals 50 each month. Take it one day at a time.
Create a tracking component – you can’t manage what you can’t measure.
Some of the top people in business invest 8 – 10% of their income into their business (example: coaching, seminars, etc.).
When you pay for personal growth….you value it more.
“Excellence is doing the best you can, with what you have, in the time frame allowed.”
“Success is not by chance…it’s by choice. Fortunes are made with the little choices.”
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