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Real Estate News – Quick Stats for the Week of 8/31/09
Real Estate News Overview:
- New home sales rose 10% in July.
- Median sales prices of new houses sold in July was $210,000.
- In the Northeast, July’s sales rate rose 32.4% compared with June
- The South was up 16.2% compared with June
- The West was up 1% compared with June
- The Midwest’s sales rate fell 7.6% compared with June.
- The average rate for a 30-year fixed mortgage was 5.14%, up from 5.12% a week earlier.
- The average rate on a 15-year fixed-rate mortgage rose to 4.58%, from 4.56% last week.
- Rates on five-year, adjustable-rate mortgages averaged 4.67%, down from 4.57% a week earlier.
- Rates on one-year, adjustable-rate mortgages were unchanged at 4.69%.
Real Estate Investor Coach Response:
That’s all the news that I’ve got for you on this beautiful Monday morning (in Lexington, KY). Not a whole lot of explanation, just some cold hard stats to start off your week. I think it is important to at least keep a pulse on what is happening with real estate around the country and I hope this quick blog post helps you do that.
Go make some money investing in real estate!
To your Real Estate Investing Success,
Brian Evans
Wholesaling
Today’s Real Estate Investor Coach “Insider” video is called, “Wholesaling.”
Wholesaling is probably on of the most common was to flip houses and create cash flow for your real estate investing business. It is all about buying low and then selling low. Basically you are selling bargains to bargain hunters. People are always looking for bargains and it is your job to find or create the deal and then flip it for a quick $5k-$20k profit. How many of these types of deals do you need each month to surpass your current income? Go watch the video, learn something new and then implement it…
Enjoy!
Be sure to take 30 quick seconds after the video and tell me what you think by posting your comments below. THANKS!
To your Real Estate Investing Success,
Brian Evans
Don’t Be Afraid to Annoy People
I thought this might be a good follow up to last Wednesday’s Biz Management Blog post which was called, “Fart on it.” You might be interested to know that a few of my “Insider” subscribers didn’t really care for last week’s topic, and as a result felt the need to complain about it. Did I lose sleep over it? No, in fact it is actually good and bad. It is good because, I don’t want complainers on my list and as a result, these people have been removed from my subscriber database. It is bad because no longer will these subscribers be able to learn from someone who is kicking ass as a real estate investor. If you don’t know by now, I give a lot more than I ask for.
Ok, so what does this have to do with today’s lesson called, “Don’t be afraid to annoy people?” As a real estate investor, you will undoubtedly annoy people on occasion as a result of your marketing. When you mail letters and postcards, and put up signs, etc not everyone is going to like your message and be happy that you contacted them. Some will asked to be removed from your list, some will not like your street signs, etc. The key is, not to let the negative haters and easily annoyed keep you from doing what you do. The fact is, some will, some won’t, so what, someone’s waiting (SW, SW, SW, SW)!
Every week in my real estate investing business I get a call from someone that has requested not to be contacted again (after the first letter). One time, I even had someone take their complaint to the Attorney General’s office. Can you believe that! All because I sent them a handwritten letter in the mail saying that I wanted to buy their house. It’s called marketing buddy! If you are not interested in selling then here’s an idea, “don’t call.” The AG’s office really seemed to care less about this complaint. There is no law about mailing letters to generate business. The unfortunate thing is, the “complainer” apparently has such a pathetic life that he let one little letter in the mail upset him so much that rather than throwing it away he felt the need to retaliate. Again, my reaction to this is, oh well, sucks for him. I didn’t do anything wrong, on with running my business.
To be successful in this business you need to very quickly wack the suspects and only work with the prospects. Only do business with people that want to do business with you. You must not be afraid to annoy people with your marketing. Don’t let the people that get annoyed by your marketing efforts scare you away from this business. Your marketing is the heart that pumps blood into your business. If you turn that off then everything else will die.
Do you have any stories about when your marketing annoyed someone? If so, please share them in the post below.
To your real estate investing success,
Brian Evans
Real Estate News – Mortgage Problems Rise with Unemployment
Real Estate News Overview:
Homeowners continue to struggle with their mortgage payment as unemployment remains an unresolved issue in the U.S. 13% of people who own a home are behind on payments.
The outset of this mortgage debacle started as a result of the subprime loans, however the shocking statistics are that of the conventional 30 year fixed mortgage homeowners being in default as a result of rising unemployment. One in three new foreclosures between April and June was from a prime, fixed-rate loan, up from one in five a year earlier.
Real Estate Investor Coach Response:
I do my best to keep these weekly news blog posts as fresh and relevant to you as possible, however sometimes the news just repeats itself. Clearly the bottom of the market has yet to be found, however as a real estate investor, I must reiterate that I could care less what the market is doing, because I know how to make money in good times and bad. With high interest rates and low. In a recession and out. With high unemployment and low. With a liberal President and a conservative…
So why am I telling you all this, to brag? No. I am telling you this to hopefully give you something to aspire to if you are new in the business of real estate investing. If you are ready to kick your business into overdrive then perhaps it is time to get a coach (me) to keep you fatten your wallet. Check out my coaching programs at http://www.RealEstateInvestorCoach.com/Coaching
To be frank, the only time I review the news is to write you (my readers) this weekly blog post. The only news I watch throughout the week is ESPN news! Now that is news everyone should watch. And unfortunately I just found out that in the little league world series, KY (my home state) got killed on Sunday by Texas. I tell you what those young boys sure do eat their wheaties.
Sorry, I get sidetracked with two topics. Baseball and Real Estate Investing. Putting the two topics together with me kicks my ADD into overdrive!
To your Real Estate Investing Success,
Brian Evans
5 Steps To Selling Houses Fast
Today’s Real Estate Investor Coach “Insider” video is called, “5 Steps To Selling Houses Fast.”
One of the most frequent questions I get from people in the business and not in the business of real estate is, “how are you able to sell your houses?” My response to them is, first of all, I don’t need to sell for full retail value, and secondly, I make it easy for my buyer to buy. Sounds easier said than done to most. Go watch the video and then it will make more sense…
Enjoy!
Be sure to take 30 quick seconds after the video and tell me what you think by posting your comments below. THANKS!
To your Real Estate Investing Success,
Brian Evans
FART On It
When was the last time someone told you to FART on something in your business? Probably never, until now. I was shocked to learn about this technique when I first heard it as well, but once explained to me it makes perfect sense!
The good news is, this FART doesn’t smell!
In your business you are dealt with lots and lots of information on a daily basis. The trick is being able to manage all of the information in a way that allows you to quickly get through it, understand it and then get on with doing what you do best - buy houses! Fart is an acronym for: File, Act, Reroute, Trash.
When I am dealt new information in my business, whether it be mail, or email, or office documents, or notes, or whatever…the way that I get through it is I Fart on it. I either File it away, or Act on it, or Reroute it (I’ll delegate it), or I Trash it…I FART on it.
The stack of papers and files and emails that you have to go through everyday can seem very overwhelming and it can continue to pile up very quickly unless you do something about it. Well, now your solution is simple, humorous, and easy to remember! The quicker that you can FART on all of the information that comes your way, the better off you’ll be as a real estate investor and business owner.
I hope you enjoyed this short article. If so, please let me know!
To your real estate investing success,
Brian Evans
Real Estate News – 1 in 4 homes have lowered their prices.
Real Estate News Overview:
One in 4 US homes for sale on August 1st had their prices marked down at least once since being listed on the open market.
Watch this short video about today’s Real Estate Investing News:
Real Estate Investor Coach Response:
To think that 25% of the listed homes on the market lowered their price is very powerful information. What are you doing about it? This is a great opportunity to request seller financing, or subject to transactions. This is still very much a buyers market, and it probably won’t be for much longer. I do believe that there is still probably a year before the market begins to show any signs of a turn around. Remember real estate investing is all about the MATH! You need to be making lots and lots of offers on properties. If you are not making offers, then you are not buying properties. These properties that are lowering their prices are perfect homes to make offers on.
To find out more about what is happening in your local area I highly recommend checking out the site: www.Trulia.com
To your Real Estate Investing Success,
Brian Evans
What Not To Do As a Real Estate Investor
Today’s Real Estate Investor Coach “Insider” video is called, “What Not To Do As a Real Estate Investor.”
Every trainer, and guru out there teaches what TO do and how to make money, yadda yadda yadda. Don’t get me wrong, those things are very important, however today’s lesson is going to take a peak at the flip side of the coin as I discuss what NOT to do as a Real Estate Investor. If you think you know it all, think again…Watch the Video!
Enjoy!
Be sure to take 30 quick seconds after the video and tell me what you think by posting your comments below. THANKS!
To your Real Estate Investing Success,
Brian Evans
Make Investments That Help You Grow
When was the last time that you invested in yourself? I mean seriously invested in yourself in a way that would help you grow your business and learn new things and make more money as a result? If your answer to these questions is never, then I’m sorry to say this but, I feel bad for you? I know, I know but you have good reason for not investing in yourself and your business education such as: you don’t have the money, or you don’t have enough time, or perhaps you think you already know it all and that any new investment in yourself would be a waste of money. The fact is my friends those are all poor excuses.
So lets dissect this, “Investing in yourself” concept. What exactly does it mean? It means taking educated risks and perhaps spending money or time or energy on something with the end result being, it makes you better! Here are some example of investing in yourself, all of which I have done and/or continue to do on a regular basis:
1. Investing in your real estate education by going to training bootcamps held by qualified individuals.
2. Investing in real estate training materials, AND IMPLEMENTING THEM!
3. Investing in a real estate coach or mentor, to help you through difficult deals and situations. (THIS CAN BE LIFE CHANGING)
4. Investing in an assistant to help you with the every day details and minutia that you encounter as a real estate investor.
5. Consider investing in the expansion of your business and moving to an office location.
6. Investing in your marketing (this is a big one that most people consider an expense vs. an investment).
7. Investing in new books, newsletters, self help, motivational material.
8. Perhaps investing in something that helps you relieve stress such as a vacation or a motorcycle! (the latter is my personal favorite. There is nothing like cruising the back country roads on a day with blue sky’s).
I’ll never forget the first really big investment that I made in myself. I spent a little over $30k in a real estate investing program, and looking back, although it seemed crazy to spend that kind of money on education, it also seemed so right to me inside. Does that make sense? Well, the truth of the matter is this, I couldn’t afford not to make the investment in my self because it is knowledge and education that I could act on for the rest of my life. The good news is that I made my money back multiple times over and looking back, I know that had I not made that decision to invest in my real estate investing education that I would be where I am today, and writing this article sharing my experiences with you.
I’d like to leave you with two great quotes:
(1) “I don’t ask how much it costs, I ask how much it will make me.” - Donald Trump
(2) “The price of education is cheap compared to the cost of ignorance.” - Ron LeGrand
I hope you enjoyed this short article. If so, please let me know!
To your real estate investing success,
Brian Evans
Real Estate News – 23 Percent of Short Sale Offers Actually Close
Real Estate News Overview:
Just 23% of short-sale offers that homeowners receive from potential buyers actually close, according to a February study of 1,300 real estate agents by Campbell Communications.
Short sales once were extremely rare. But now, with unemployment climbing and home values down, more homeowners are pursuing short sales when they can’t afford their mortgage. About 11% of all sales transactions in June are such short sales, according to the NAR.
Uncompleted short sales that go to foreclosure are costlier for lenders and homeowners. For lenders, a short sale may save as much as 30% of the expense incurred by going to foreclosure.
Real Estate Investor Coach Response:
These are all very interesting facts about short sales. It is no doubt that shorts sales take a long time, and that the majority of the attempts fail. So why is this? There are multiple reasons, but lenders lack the internal staffing, expertise and systems to process these short sales in a timely fashion. They can also be very complex, especially if they involve home-equity lines of credit or other second liens held by different lenders, who also must agree to take less than the amount they’re owed from a home’s sale. But most importantly, the people who are attempting them, don’t have a clue, and aren’t prepared for the process.
Listen, if you want to make money in short sales then there is no better system out there then my Foreclosure Gold Rush System There is no better teacher out there then me. This may sound cocky or arrogant to some, but the fact of the matter is this…not only do I teach real estate, but I continue to buy and sell real estate every single day. I built my business around short sales, and am more than qualified to teach others how to do the same.
If you want to finally learn how to make big checks in real estate then you need to learn about my coaching programs . They’ll change your income and your life!
To your Real Estate Investing Success,
Brian Evans
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