When a potential buyer or seller ask you WHY they should choose you as their realtor, do you have your ‘Elevator Speech’ ready and memorized? I have a few, depending on who my audience is: ‘We close accurately and on time’, or ‘our average close time is 21 days’, or ‘Our company is large enough to serve you, and small enough to know you’. TAR, November 2011, had a great article about this exact topic. They suggest that your pitch has the following : (a) State your business as a benefit (b) make a connection (c) ask a question (d) Rehearse, but don’t sound rehearsed and (e) shorter is better. Good luck!
Tell your buyers to hurry up and buy. That’s my opinion. Higher rates and home prices might just be here sooner than you think.
Today unemployment numbers were released, showing the addition of 200k jobs (more than expected). We are sitting on 2 quarters of positive job growth, some that our country has not seen in 3 years. Investors are holding onto cash (ex: Apple is rumored to have 800 billion in cash), as well as hedge fund managers, banks, etc. When they start to put those dollars to work in the economy, THAT is when the rates will rise. Jobs will be created, R&D will happen, companies will expand.
In Houston we are already seeing the seeds being planted for growth. The Houston Business Journal (Dec 16-22) cited the largest commercial deals of 2011. Wolff Co purchased an 18 acre tract in the Energy Corridor he has tried to purchase for 30 years. Our hotel occupancy rate was 2nd in the nation, next to Nashville (and double the national average). Exxon is building the new campus in the Woodlands. Shell renewed their lease for 25 years downtown, The Hess Tower sold for the highest price per sq foot in our city’s history……I could keep going. Just read the article! The take away here is growth, growth, and more growth. This will be positive for home sales no matter how you look at it. Even with higher rates, buyers will buy and sellers will sell. They always have!
Currently, the rates are being held low as investors worldwide are investing in US bonds. They are terrified of Europe, and China is the only true stable economy, but……….would you invest your money there? Exactly. So that leaves the U.S. Let’s enjoy it while we can.
Have a fabulous weekend!
RATES as of January 6, 2012 (UNCHANGED for the week)
The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets
Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 2.875% APR 3.189% 15 year ( fixed ) 3.750% APR 3.946 %
15 year (fixed) 3.250% APR 3.468% 30 year ( fixed ) 4.500% APR 4.615%
30 year (fixed) 3.875% APR 4.000%
7/1 ARM 3.000% APR 3.323% 5/1 ARM 3.000% APR 3.353%
7/1 ARM 3.000% APR 3.310%
5/1 ARM 2.750% APR 3.279% 10/1 ARM 3.875% APR 3.796%
FHA call for quote (max loan $270,000) 5/5 ARM 3.000% APR 3.004%
We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!
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