A Time for Learning!

Last week, I was at the Core Training, Inc's bi-annual summit, learning how to cater to our clients and referral sources by a) showing people you care, b) doing your best , and c) doing the right thing. 

The room was full of realtors and lenders that are exploding their businesses by implementing structure, building teams and saving their money! Strange concept right? What are you doing to further your business? Are you working IN your business or reacting outside of it? Do something to enhance your tool kit! 

The Core Training (of which I am one of their lender coaches) has great resources for you! Check it out here!

I could give you a doughnut...but I prefer instead to give you tools to reach your goals!

In the Markets

CLICK HERE to find out what rates did this week!

                        ~Jen

Upcoming Events 

 

Please contact Annette Ernstein to RSVP for any of our events

 

Annette.Ernstein@LegacyMutual.com

Direct Phone: 713-579-3606   

Breakfast & Learn: HCAD- Secrets to Protesting Appraisals!

WHEN: Thursday, May 21st

9:00-10:30am

Seminar: August 1st Closing Disclosure Changes

WHEN: Wednesday, June 3rd

2:00-3:00pm

Cinco de Mayo Trivia! + Happy Mother's Day!

Since Cinco de Mayo was just last week, I wanted to pass a bit of trivia and personal opinion to you. 

Many of you may know that I am married to a Mexican, so I have the intel on Mexican history! Cinco de Mayo (5^th of May) was the day that the Mexicans beat the French in Puebla. After previously fighting in the Veracruz port (over money that Mexico owed to France), the French moved westward on the way to the capital to collect! They were cut off in Puebla, and the Mexicans prospered. The French went home, and forgave the money owed.

 

Not to downplay this important victory, but the REAL MEXICAN HOLIDAY that they celebrate (similar to our July 4^th), is the Independence Day from Spain in 1810 - the 16^th of September (Diez y Seis de Septiembre!) Trouble pronouncing ? EXACTLY......that is my theory, that the gringos celebrate Cinco de Mayo because they CANNOT PRONOUNCE Diez y Seis de Septiembre, or Veinte de Noviembre, or Veinte Cuatro de Febrero....all more important holidays in Mexican history by the way!).

 

In the Markets:

With weaker than expected wage gains , bonds recovered some recent highs, and mortgage rates eased up a bit! Read more here!

 

Happy Mother's Day to all of you Mom's out there!!!!!!!!!!!!!!!!!!

Upcoming Events 

 

Please contact 

Annette Ernstein to RSVP for any of our events

 

Email Annette Here!

Direct Phone: 713-579-3606   

Breakfast & Learn: 

HCAD- Secrets to Protesting Appraisals!

WHEN: Thursday, May 21st

9:00-10:30am

#LegacyRocks!!

Spring is in the air! I would like to publicly congratulate my team (Kenny, Heath, Jason, Monique, Annette, Emily, Jerrie Lynn, & Sarah ) for having the most closed volume in our company for April of $6.7 million! Legacy is full of rock star loan officers, so believe me this is no small task!

 

We also broke a record for leads at 171! Up from 135 in March. YOU GUYS ROCK! Thank you for your support of my vision to provide a POSITIVE experience to home buyers by closing ON TIME, ACCURATELY , and with TONS OF COMMUNICATION.

                                                         ~Jen

IN THE MARKETS

Rates have ticked up a bit. But still low!!!!! Still a great time to buy a home!

Also, don't forget we have three incredible events happening this week:

Tour the Hernandez Team Office! 

Your 45-Minute Behind-the-Scenes Tour of the Loan Process

WHEN: Wednesday, May 6th

11:30am-12:15pm

Monthly Seminar Series: 

                          Who, What, Why, When & How of Life & Home Insurance  
            Presented by Drew Rogas/Goosehead Insurance;Brandon Green /Allstate 
                                                          WHEN: Wednesday, May 6th  
                                                                          5:30pm-7:00pm

 

MCE Course:  

August 1st Changes- NO MORE HUD-1!?!

WHEN: Friday, May 8th 

9:00am-11:00am

Insurance Tidbits Everyone Should Know!

Before we know it, hurricane season will be upon us. Recently, I hosted a learning event for Realtors that was VERY informative. Our guest speaker was Drew Rogas of Goosehead Insurance. Here are some bullet points:

·       A SFR (single family residence) is 9% likely to have a fire.

·       The THREE main factors that determine premium are (in order) : AGE, SIZE, LOCATION

·       Trampolines are an underwriting risk (not liked by companies!)- be sure if you have one, you report it, as if there is a claim later, some neighbors kid falls, you are at risk, they won't cover if you have not reported you have one.

·       The following dogs are viewed as higher risk: German Shepherd, Doberman, Dalmatian, Pit-bull

·       Dual county areas that TOUCH the water (Brazoria, Galveston, Jefferson, Champers)- have Tier 1 Windstorm Insurance. Did you know that not all carriers offer private coverage? Some default to TWIA (Texas Windstorm Ins. Assoc), and private is better in many cases. If your clients are buying in these cities, buyer beware! (Goosehead writes private Tier 1 Windstorm): Pasadena, Pearland, Friendswood, League City, Clear Lake, Deerpark, Seabrook.

In the Markets:

Mixed economic data last week, including POSITIVE HOUSING data, pushed rates a bit higher. Read more here!

                                                    ~Jen

Don't Miss Our Upcoming Events!!

Please contact 

Annette Ernstein to RSVP for any of our events

Annette.Ernstein@legacymutual.com

Direct Phone: 713-579-3606   

1) Tour the Hernandez Team Office! 

Your 45-Minute Behind-the-Scenes Tour of the Loan Process

WHEN: Wednesday, 

May 6th

11:30am-12:15pm

2) Monthly Seminar Series: 

Who, What, Why, 

When & How of 

Life & Home Insurance  

Presented by Drew Rogas

/Goosehead Insurance; Brandon Green /Allstate 

WHEN: Wednesday, 

May 6th  

5:30pm-7:00pm

3) MCE Course:  

August 1st Changes- 

NO MORE HUD-1!?!

WHEN: Friday,

May 8th 

9:00am-11:00am

I Spy...Appraisers!

Sometimes on the way to school, the kids and I play 'I Spy'. So it was mommy's turn. "I spy something gray". And my 9 year old replied , "Your hair!". That little bugger.

 

Speaking of gray hair, did you know that per the Appraisal Institute, 50% of the appraisers in the US are 51-65 years old? This means... drumroll... RETIREMENT in the next 10 years for a large percentage of our appraisers. 

Carrying the thought further, that means there is a growing SHORTAGE in appraisers. Between Harris, Fort Bend, and Montgomery counties, there are 460 appraisers. Last month, there were, according to HAR, 6232 homes sold. That is 13 appraisals per appraiser (if they are all active full time), and not to mention refinances. So let's just say 20 per appraiser per month. Not so bad. HOWEVER, we all know about the 80/20 rule. Twenty percent of the appraisers (that are good), do 80% of the work. In fact, one of the most reputable appraisers in town has a turn time of 15 days. We are turning them in 8 right now, and 5 if the client pays a rush fee.

 

My point of mentioning this is that a lack of new appraisers in the industry will change the dynamic of turn times, pricing, and quality over the coming months, and years. Do you know what it takes to become a certified appraiser?

·       College degree

·       2500 hours as an apprentice (pay about 40K/year)

·       MINIMUM of 2 years as an apprentice (to do the 2500 hours)

·       225 hours of classes

·       More info at TALCB.texas.gov

 

Many appraisers cannot afford to take on apprentices that can only observe. The smart ones are creating apprentice programs for young graduates, to be assistants, as you will, and within 2-3 years, their income potential about doubles. Not a bad plan! If you know someone interested in this field, have them call me, and I can put them in touch with some appraisers with an apprentice program.

 

To check out what rates did this week, CLICK HERE! 

Enjoy your week!

~Jen

Easter brings CHANGE, and a TON of it!

Hello everyone!! 

We hope you enjoyed this holiday weekend, whether you celebrated Easter, Passover, or none of the above!

Diego went on a school 2 night overnight stay at an outdoor camp this week. There was a HUGE void in the air from the lack of his  joking around and negotiation tactics. So much that we did not know what to do with ourselves!

Speaking of negotiation tactics, how are yours? Watch our Business Tip of the Week to learn 2 tactics you can implement to help you with lead conversion! 

Also, as part of our ClosingTips spotlight, watch below for EVEN MORE reasons on why you need to know what's happening AUGUST 1 (HINT: no more HUD-1!) 

                                                                                      ~Jen

Upcoming  

Monthly Events

Please contact Annette Ernstein to RSVP for any of our events 

Email Annette Here!

Direct Phone: 713-579-3606  

         

How to Double Your Leads ASAP! 

Presented by Dayton Schrader,
The CORE Training
WHEN: Tuesday, April 7th
3:00-5:00pm

Home Insurance Pitfalls EVERY Realtor Needs to Know  
Presented by Drew Rogas/Goosehead Insurance
WHEN: Thursday, April 9th 

9:00-10:30am

Goodbye HUD-1, Hello Closing Statement!

So when I don't write about my kids or humorous stories, some of my readers complain!  So here is one for you: my 9 year old thinks he was born in the 70's and has a passion for disco lights and 70's or 80's music. He downloaded MC Hammer's "Can't touch this" on my iPhone, and said, "Hey mom, I have a song for you by MICK Hammer!" His mispronunciation made me smile.

So talking about mispronouncing things, can anyone say "Closing Statement as of August 1^st?" Do you know what that means? As of August 1 there will be NO Hud-1 Statement. The HUD 1 has been around for 40 years!

Come to one of our MCE classes on the subject. EVERY 1^st Thursday of the month until October I will have a 2 hour class on the topic. My goal is that by the Fall, every realtor I know attends one! I want you to be educated and know that our team at Legacy is being proactive and will embrace the change. We are determined to help you close more transactions by being in the know!

In the Markets

Optimism about Fed policy helped mortgage rates improve early in the week last week. Last Monday, Fed Vice Chair Stanley Fischer elaborated on the Fed's plans for monetary policy. To learn more about his report, READ MORE HERE.

                                                 ~ Jen 

Upcoming Monthly Events

Please contact Annette Ernstein to RSVP for any of our events

Email Annette Here!

Direct Phone: 713-579-3606  

           

 

Budget Seminar 

Learn How to Save 20% of Your Gross Income EVERY MONTH!
WHEN: Wednesday,  April 1st 

5:30-7:00pm

MCE Course : August 1st Disclosure Changes!

WHEN: Thursday, April 2nd 

9:00-11:00am

How to Double Your Leads ASAP! 

Presented by Dayton Schrader, The CORE Training
WHEN: Tuesday, April 7th
3:00-5:00pm

Home Insurance Pitfalls EVERY Realtor Needs to Know  
Presented by Drew Rogas/Goosehead Insurance
WHEN: Thursday, April 9th 

9:00-10:30am