Business Planning for 2013: LEAP!

I’m excited that you have taken the big step in your career by investing your time, energy and effort to take your business to the next level.

The important thing to realize is showing up is not enough.  You need to be engaged, focus and have a level of commitment to the plan your come up with this weekend.

In addition, you will need to change.

Change your approach to the business by adding accountability into your schedule.

Change the way you do business – perhaps developing a mobile strategy, online strategy, or including something else new.

Change how you view your business – become a visionary.  Think about what is coming down the road and how you will need adjust your approach to the business.

Most importantly, you will have to take action – not just talk about it.

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As time goes on, you will need to make adjustments.   Just like a pilot, a plane is off 99% of the time while in the air because of turbulence, air stream, storms, etc. you will need to adjust throughout the year as well.  How do you do this?  get a mentor or a coach.  We are hear to help.

You will need to take a leap of faith in your business and your plan.  Try different things – client parties, popbys, coffees, write notes and most importantly, you will need to do it consistently. Join networking groups – get out there and be present while you are with them.  The more things you try, the more likely you are to find something that works for you.  Do it, fix it, try it again.

In addition, consider the law of momentum.   Continually staying in motion will keep you moving towards your goals.  Do something – everyday to move you closer to your goals.  Embrace the self-discipline it will take to make it happen.

We have an agent Kay Woodard who has been getting up at 5:00AM and has been walking 5 miles.  She has been getting up in all types of weather and temperatures to walk regardless of the conditions.  She has done it whether she wants to or not.  This means, you have to do it whether you want to or not to build your self discipline.

If you are taking on a new initiative, take the time to educate yourself on what it will take to be successful in that area.  Meet with others who are successful in this area, read extensively about it, and then do it.

Also, analyze yourself – find out what is your “prime time” and get things done during this time – plan and prioritize around this time of day to get things done.  Top performers pay now so they can play later – low performers do what is fun and easy versus what is hard and necessary.  Commit to yourself today and everyday that you make the sacrifice and not play now and have to pay later.  Get up a little earlier – become the Ninja inside of you to write your gratitudes down, do your affirmations and write those personal notes.

Think and speak positively – be an optimistic force in your own life so you can be a positive force in the lives of others.  Optimism builds enthusiasm within you and gives you energy as well as gives you self esteem.

Lastly, be prepared – for your day, your appointments, your plan of action, and lastly your success so that you can build upon it,  daily.  Now, let’s begin!

 

Staff Sergeant Reminds Us

Yesterday I was at a meeting for Homes for Heroes and I heard a young Marine speak about his life and how it had changed after being injured in Afghanistan.  His name is Staff Sergeant Joey Jones

Here are some notes I took and wanted to share with others – enjoy:

  • Build a life on purpose – decide what you want and go get it…
  • Determine what your personality is and what serves you best for your skills
  • No “one” is better than the whole
  • Make a decision to make a difference in someone’s life
  • Decide – what are you gonna do now
  • You control yourself and your destiny
  • You hold the keys to drive your life – don’t give the keys to anyone else.
  • Work hard
  • Care about others
  • Give back
  • Make it happen
  • What makes you happy?  Figure it out and do it more…
  • How can you be a hero to someone else today
  • Determine your goals and aspirations and achieve them
  • If you do anything – do it right
  • Nothing worth doing is ever easy
  • Be respectful to others at all times
  • Read the book – Lone Survivor
  • Check out the campaign www.bootcampaign.com and contribute
  • Take time and practice then make the appropriate adjustments
  • Commit to giving 100% at all times

 

These are things we have heard in the past at one time or another but it never hurts to be reminded of them to keep you focused.

 

Coast to Coast “Buzz” – Market Rebound!

As we enter the 4thquarter of the year, we continue to see strong sales in real estate, low inventory levels of existing homes on the market and phenomenally low interest rates.  I just got back from the RE/MAX California-Hawaii Regional meetings and all the buzz was how the market is on the rebound and how there has never been a better time to buy a home.

It was funny, as I was headed to the airport back home yesterday, the taxi driver overheard my phone conversations.  When I was finally off the phone, he asked if I was in real estate.  When I confirmed his suspicion, even he commented – unsolicited – that more people should be buying a home today.  He had no real estate experience and he couldn’t understand why people were paying more in rent than if they were to buy under the current conditions.  He even made the comment that workers at 7-11 could really buy a house today because they could actually qualify for a mortgage -not like wat was happening in the past.

West Coast to East Coast – the “Buzz” is Market Rebound!

We are at historically high affordability rates for home ownership which makes today a great time to be a home owner or investor.  From the investor’s side of the equation, there are many people who cannot buy because of past history, some are only relocating temporarily to the area, and some are just plain old gun shy to buy because of the negative housing market over the last 5 years.  Therefore, with prices down from the all-time highs but making their way up the ladder, a good renter pool, great financing options for investors – now is the time to get in the game!  Home ownership is a long term investment strategy that can pay big dividends later.  To learn more about becoming an investor, call us today.  We would be happy to speak with you about your financial goals and objectives.

School days and Market Changes..

The real estate market in Northern Virginia appears to be taking a quick breath so far in September.  Through the first eight months of the year we were on a whirlwind tour with multiple offers, few days on the market and escalating sales prices, but as the summertime came to a close and with the Labor Day holiday and kids going back to school we have seen a slight slowdown in the market.

The inventory of resale homes available remains low at just over 5,400 which is down 25% from the same time last year.  In addition, sales of existing properties are up the last 30 days by 4% over the same period last year.  But the number of houses on the market is up from the previous week and the number of weekly sales the last four weeks has declined each week.  And prices are down slightly from June to July – August prices are not yet released.  As we look at these numbers, again, my belief is it is August, one of the historically slow months for real estate.  People go on vacation, families are gearing up for their kids to go back to school, it is the end of summer, and people are getting back into routines in their lives.

As we look back, in a National report by Corelogic, the July Home Price Index (HPI) showed home prices-including distressed sales-increased year-over-year by 3.8 percent in July. On a month-over-month basis, prices increased 1.3 percent from June and July marked the fifth consecutive increase in home prices on both a monthly and yearly basis.  In Northern Virginia, we are tracking very close to the year of year stats with a 3.2% increase over last year.  Interest rates remain extremely low on all loan products for housing which is good for sellers, more buyers can qualify to buy – buyers, payments are lower and home owners looking to refinance to stay in their homes also have the opportunity to lower their payments.

All in all, we are experiencing a great real estate market in Northern Virginia and we should continue on this path of recovery.  The only issues that potentially could impact the local market is sequestration and Dodd-Frank reform so we will keep on top of these fronts for you and report back as we know more.  If you ever have any questions, always feel free to call us – we are here to help you.

And the market goes on and on and on…

It is amazing what a difference our real estate market has experienced this year versus the last few years.  Previously we were inundated with short sales, foreclosures, dropping prices and very little confidence in the market.

Today, we are at a low point in the number of short sales and foreclosures on the market since I started keeping track of them over two and a half years ago.  In October of 2010, we had 1,460 short sales on the market, today we have only 386.  Additionally, foreclosures are at a low point as well.  In November of 2010, we had 516 foreclosures on the market and today we only have 178.  Additionally, prices were falling in the Northern Virginia area.  According to RBIntel.com our market prices bottomed out in February of 2009 with an average sales price of $307,225.  Today our average sales price is $469,800.

We are still off our highs of 2006-2007, but we are headed in the right direction.  All of this information coupled with low interest rates has restored confidence in our market.

Rates?  Did I just mention rates?  Yes I did and they are ridiculous!  Yesterday I heard one of our clients locked in a rate of 3.25% with a lender credit of 2%.  We continue to see rates decline which leads to the question of how low can they go before more people act on refinancing or purchasing?  Only time will tell.

The last area I would like to touch on is our rental market.  The inventory of active rentals remains low and interest in these properties remains high.  At this time, many people prefer to rent over buying as they remain skittish about buying or are in a situation such as a recent short sale which prohibits them from being able to purchase.  This situation has resulted in rental rates rising making investing a viable option for many people – maybe even you!

If you would like more information on how these numbers affect you whether buying or selling a house, or if you would like to discuss becoming an investor, pick up the phone and give me a call.  I would love to speak with you about your situation in more detail.

 

 

Shock and awe…

The real estate market continues to be white hot for sellers who properly price their homes, get them in the right condition and have them staged.  This makes it very competitive for buyers.  We see multiple contracts on houses in all price ranges so buyers need to be prepared to be involved in situations like this and put their best foot forward when making their offer.  We have been saying this for several months now and we do not see that this will change anytime soon.

There is one area that continues to shock and amaze me today and that is interest rates.  It is an unbelievable phenomenon watching interest rates today.  Who would have ever thought mortgage rates could be as low as they are today taking into consideration where we have been since the Mortgage Banker’s Association started tracking rates.   Remember what happened in the early 80’s with rates at all-time highs in 18-19% range and even when I got into the business in 1988 rates were between 10 and 11%.  We got excited when the rates were creeping below 10%.  Then we watched as rates came down into the 6’s and thought they couldn’t go lower and they have.  This week I saw a 30 year fixed interest rate at 3.5% with a lender credit.  There was even an article asking if rates could go down to 3%.  There has never been a better time to purchase a home, investment property or even refinance your existing mortgage(s).  Please let us know how we can help you.