Bob Bendat
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  • November20th

    The average rate for 15-year mortgages reached a new bottom this week, dipping from 4.40 percent to 4.32 percent—the lowest level since Freddie Mac began tracking rates in 1991.

    Rates for 30-year mortgages approached the all-time low of 4.78 percent again last week, falling to 4.83 percent from an average of 4.91 percent a week ago.

    Wellesley College economist Karl Case says the Federal Reserve’s efforts to purchase mortgage-backed securities from Fannie Mae and Freddie Mac is lowering rates on home loans.

    Source: Boston Herald, Thomas Grillo (11/20/09)

  • November20th

  • November19th

  • November18th

    These days it’s easy to feel like there’s not enough time to get everything done. But the truth is, you always have all the time there is. Here are five foundational truths about time to help you use your time better:

    1. Time is precious. Ralph Waldo Emerson said, “Guard well your spare moments. They are like uncut diamonds. Discard them and their value will never be known. Improve them and they will become the brightest gems in a useful life.”

    Do you have a mindset right now that time is precious? If you’ve ever had a loved one diagnosed with a terminal illness or gotten a phone call that your family was in a horrible car accident, you probably understand that time is precious. Think about how precious time is the next time you spend an hour with a business partner who is unworthy of your time. Take care and heed Emerson’s advice to, “Guard well your spare moments.”

    2. Time is profitable, if used well. William Irwin said, “Learn to use ten minutes intelligently. It will pay you huge dividends.”

    If you can learn to use ten minutes intelligently, you can learn to use six 10-minute blocks of time, or one hour, effectively. When you begin to use your hours more effectively, your hourly rate, and your profitability, increase.

    3. Time can’t be preserved. Time past is time lost. Benjamin Franklin said, “If time be of all things most precious, wasting time must be the greatest prodigality, since lost time is never found again.”

    There’s no such thing as a time bank where you can deposit your time and withdraw it as you need it. You can’t stop time or make it stand still.

    4. Time can’t be managed. Lord Chesterfield said, “I recommend you take care of the minutes, for the hours will take care of themselves.”

    You must get clear on this point: time cannot be managed. Dedicate yourself to mastering time – that’s how you make a difference in your productivity and prosperity.

    5. Time can be leveraged to provide income for others and freedom for you. Marcel Proust said, “The time which we have at our disposal every day is elastic; the passions that we feel expand it, those that we inspire contract it; and habit fills up the rest.”

    When you delegate tasks that you should not be doing to those who do them better, you not only give yourself more time to do what you are really good at but you also give others a chance to earn a living. This is a win-win situation for everyone.

  • November15th

     

    San Diego, November 15, 2009

    Not all buyers are suited for a short sale. This was one of the messages delivered at “Short Sales from the Buyer’s Perspective” during the 2009 REALTORS® Conference & Expo today.

    According to the latest Realtors® Confidence Index, one out of 10 recent buyers purchased a home through a short sale. The survey also showed that Realtors® are concerned about the hurdles buyers face in short sales.

    “As short sales become more commonplace, both buyers and sellers need the help of seasoned, experienced professionals to help them navigate the complexities of a short sale transaction,” said National Association of Realtors® President Charles McMillan. “As the first, best source for real estate information, Realtors® provide valuable insights and experience that can help buyers realize their homeownership goals, whether through a short sale or other means.”

    During the session, Realtor® Lynn Madison, who co-authored NAR’s new Short Sales and Foreclosure Resource (SFR) Certification Program, detailed the primary reasons that short sales fail, including an incomplete short sale package, an offer that is too low, and inaccurate appraisals. According to Madison, buyers who are good candidates for short sales are very patient – it can take some lenders four months or longer to approve a short sale – have their financing in order, and don’t have any contingencies in their purchase offer.

    “Short sale buyers need to have the time to be able to wait for the lender’s approval; some lenders get several hundred contacts every day,” said Madison. “Buyers must also be willing to make an offer that has a reasonable chance of closing and take guidance from their agent. If the offered price is too low, there is a good chance the lender won’t approve the contract.”

    To help Realtors® address the evolving short sales market, NAR launched the SFR Certification Program earlier this year. Offered by the Real Estate Buyer’s Agent Council of NAR, the program includes training on how to manage short-sale, foreclosure, and real-estate owned transactions, and provides resources to help Realtors® stay current on national and state-specific information. More than 250 Realtors® have earned the SFR certification since the program was first offered in September. For more information, visit www.realtorsfr.org.

    The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.