As it stands now, inflation is somewhat contained. 2,3, and 5 year notes were sold off in record numbers, which may push ARM rates much lower. Although the debt this nation has accumulated has far exceeded the natural threshold, the lower demand for goods has kept most prices stable. Americans are becoming what their grandparents were, savers. Many now look at their check as it if it will be their last, and are saving up for a rainy and a sunny day. The first rule of self-financial planning is to pay yourself first. Always find a way to stash a few bucks away for you, because you have earned it. Remember that the time you have on this earth is short, and the time you spend with those you care about is even shorter than that. Take this tough economic time to learn about what mistakes have been made, and how they can be avoided in the future. In saying that also take time to see how many high school graduates benefited from a good Real Estate economy, and pat yourself on the back. The problem arises when making money becomes too easy, we become irresponsible, and forget the time tested values that have pushed civilized society to what it is today. There is no free lunch, if you can't afford it, you don't deserve it, and you the consumer bear the ultimate responsiblity for the decisions you make.
Real Estate purchases are in full swing. Are you seeing any? Are you dealing with realtors and or attorneys that have direct access to foreclosures and bank-owned homes? Are you trained on 203k? This loan is a pain to close, but it attracts realtors, for it puts first time home buyers, our saving grace, back into the market. This also helps banks make quicker decisions for their as-is homes will be easier to move and be approved for outside financing. As for baby-boomers, they will buy, for their 401k, IRA, and Pension withdrawals will be in record numbers over the next 7-10 years. 90 million people will reach the age of 65, as reverse mortgages, whole life, annuities, second homes, and estate planning will be the services most requested. Make sure you are networking with the attorneys, accountants, and real estate professionals who still see you as a necessary component to making this industry work. All these things are different sides of the same coin. If we are all working against one another and giving clients mixed signals, then how can we expect to help them grow and retain their business?
The last thing you need to ask yourself is if you are a hunter or a farmer. Do you look for the quick sale, or are you willing to plant seeds which will eventually lead to compounded business down the road? The first type brings in a quicker buck, and usually a larger one. The second one pays little upfront, but eventually grows to a point where that farmer will not have to go out and call on new business. One involves sales and self-employment. The second involves running your business. I am not saying go out and get your license to run your own shop. I am simply trying to illustrate that everything you do needs to be looked at as your own business. Your name and reputation is what you sell, not your rates, fees, programs, or name affiliation. Learn everything and anything about your business so you become indispensable to your clients and this economy. Do that and no one, not even Lisa Madigan will be able to fire you. Good luck!!!!
Ron Granado
Account Executive
Plymouth Title Guaranty
C) 708-476-3142
O) 630-300-3900
F) 630-300-3901