Strength Of Purpose

Monday, September 17, 2007

by Pastore Team

Strength Of Purpose

“Your future is going to depend on your purpose in life. You will never succeed beyond the purpose to which you are willing to surrender”. Albert E.N. Gray made these observations in a speech delivered in 1940 entitled: The Common Denominator Of Success.

“The common denominator of success – the secret of success of every man who has ever been successful – lies in the fact that he formed the habit of doing things that failures don’t like to do”. Mr. Gray went on to state that, “Top producers don’t enjoy doing things average salesmen disdain. But, by doing things like daily prospecting, using scripts and dialogues, and organizing their time, they can accomplish the things they want to accomplish”.

Successful men and women are influenced by the desire for pleasing results. Failures are influenced by pleasing methods, and are inclined to be satisfied with such results as can be obtained by doing things they like to do. The secret is trying to discover what made them do it.

Behind every success there must be a purpose. That purpose may be practical, but it should be emotional or sentimental. Putting your grandchildren through college will drive you further than winning an award. This powerful purpose will help you form the habit of doing the things you don’t want to do until you accomplish your goals.

Over 25 years ago I was given a copy of Mr. Gray’s speech. It has been in my day planner ever since. You can obtain your own copy by Googling: The Common Denominator Of Success.

Charles “Tremendous’ Jones said, “ We will be the same people we are today, next week, next month, and next year, except for two things; the people we meet, and the books we read. This persuasive speech may change the way you think, and will show you the power behind many successful people lay in the strength of their purpose.

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Keep It Simple

Thursday, September 13, 2007

by Pastore Team

Keep It Simple

Strike three.
Get your hand off my knee.
You’re overdrawn.
Your horse won.

Yes. No.
You have the account.
Walk.
Don’t walk.
Mother’s dead.

Basic events require simple language.

Idiosyncratically euphemistic eccentricities are the promulgators of triturable obfuscation.

What did you do last night? Enter into a meaningful romantic involvement, or fall in love?

What did you have for breakfast this morning? The upper part of a hog’s hind leg with two oval bodies encased in a shell laid by a female bird, or ham and eggs?

David Belasco, the great American theatrical producer, once said: “If you can’t write your idea on the back of my calling card, you don’t have a clear idea.”

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Keep It Simple

The Top Ten Reasons It's a Great Tme To Buy Real Estate!

Thursday, September 13, 2007

by Pastore Team

The Top Ten Reasons It's a Great Tme To Buy Real Estate!

Selection, selection, selection. There are about 57,000 resale homes on the market. Regardless of the price range a buyer desires, there are plenty of houses from which to choose. Just a few years ago the resale inventory dropped below 5,000 units. A buyer was forced to make compromises if they were going to locate the home of their dreams. There is a great selection of attached homes, condos, and townhouses. You can find large lots, small lots, and a lot that will accommodate your boat or RV. There are lots of options in this market.

No Bidding Wars. In 2005 we had one client that made an offer on ten homes. They lost the first nine to the 'feeding frenzy' that existed. Other buyers bid the properties up substantially from the original listing price. There were escalation clauses where buyers authorized their agents to outbid other offers by thousands of dollars. There is no competitive bidding in this buyer’s market.

You can make an offer. A few years ago when you made an offer, the only question was how high above the list price can the buyer reach in hopes of being the best offer on the table. Today the sell price list vs. price ration is about 96%. A seller will not be insulted if you 'make them an offer they can't refuse'.

Patience is tolerated. In the hot seller's market that existed everything was rushed. Find a house before other buyers did. Hurry up and make the offer. Today a buyer can take their time. Look at several homes and think about your decision for a few hours.

Due diligence is welcomed. In this market a buyer is encouraged to obtain a home inspection, termite inspection, and appraisal. In 2005 many buyers waived these contingencies in order gain an advantage with multiple offers.

There are plenty of specs. In the not too distant past buyer had to 'play
1. games' if they wanted a new home. There were lotteries and waiting lists in order to obtain new construction. Some buyers slept in their cars in order to get to the head of the lines. R.L. Brown estimates that builders have thousands of specs ready for immediate occupancy.

Repair requests are welcomed. After a buyer completes a home inspection, they are allowed to submit a repair request to the seller. In the past a seller might insist the home was sold 'as is'. Many times, there were back-up buyers waiting for a primary buyer to upset the seller whose home was increasing in value almost daily.

Few, if any investors. It is estimated that one third of all sales in 2005 were to investors. These non-owner occupied buyer caused the market to inflate and affordability to decline. Mortgage fraud became commonplace. It's a great time to buy without having to compete with hundreds of prospective landlords.

Location, location, location. Today's buyers can find homes closer to work. In the past buyers flocked to Maricopa and Queen Creek in order to find affordable homes. In this market, reasonably priced homes are within biking or walking distance to schools, rapid transit lines, and relatives.

Real Financing is available. The 'wink, wink' zero down, no doc, adjustable, sub-prime loans are gone. Fixed rates are back. FHA financing, first time homeowner bond programs, special loans for teachers, and police officers are back in business. It's a great time to buy real estate!

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Don't Be Afraid To Fail

Wednesday, September 12, 2007

by Pastore Team

Don't Be Afraid To Fail

by Randy Kerker

You've failed many times,

although you may not remember.

You fell down the first time

you tried to walk.

You almost drowned the first time

you tried to swim, didn't you?

Did you hit the ball the first time

you swung a bat?

Heavy hitters,

the ones who hit the most home runs,

also strike out a lot.

R.H. Macy failed seven times

before his store in New York caught on.

English novelist John Creasy

753 rejection slips

before he published

564 books.

Babe Ruth struck out

1,330 times,

but he also hit

714 home runs.

Don't worry about failure.

Worry about the chances you miss

when you don't even try.

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Home Buyer & Seller Statistics

Wednesday, September 12, 2007

by Pastore Team

Home Buyer & Seller Statistics

Active home search (median):
Number of Weeks Searched - 8
Number of Homes seen -9

Method of Home Purchase, By Use of Internet:
Agent/Broker - 81%
Direct from Builder - 10%
Direct from previous owner whom buyer didn't know - 5 %

Definitely would use same agent again: 66%

Actions taken as result of using Internet site: Drove by/viewed a home - 74%
Walked through a home viewed online- 61%
Found agent used to search/buy home - 23%

Prior Living Arrangement
Owned previous residence- 49%
Rented an apartment or house - 38%
Lived with parents, relatives or friends- 9%

Source: 2006 National Association of REALTORS® Profile of Home Buyers and Sellers

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How Buyer Found Real Estate Agent Used

Wednesday, September 12, 2007

by Pastore Team

How Buyer Found Real Estate Agent Used

Referred by (or is) a friend, neighbor, or relative 40%

Used agent previously to buy/sell a house 13%

Visited open house and met agent 7%

Walked into/called office and agent was on duty 4%

Internet Site 7%

Source: 2006 National Association of REALTORS® Profile of Home Buyers and Sellers

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For Sale By Owner (FSBO) Statistics

Wednesday, September 12, 2007

by Pastore Team

For Sale By Owner (FSBO) Statistics

Did you know?
. . . the typical FSBO home sold for $187,200 compared to $247,000 for agent-assisted home sales.

FSBO Methods Used to Market Home:
Yard Sign . . . 51%
Friends/neighbors . . . 53%
Newspaper ad . . . 31%
Open House . . . 29%
Listing on the Internet . . . 22%

Most Difficult Tasks for FSBO Sellers:
Getting the right price . . . 11%
Understanding paperwork . . . 16%
Preparing/fixing up home for sale . . . 18%
Attracting potential buyers . . . 9%
Having enough time to devote to all aspects of the sale . . . 9%

Source: 2006 National Association of REALTORS® Profile of Home Buyers and Sellers

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What Repeat Buyers Want Most From Real Estate Professionals

Wednesday, September 12, 2007

by Pastore Team

What Repeat Buyers Want Most From Real Estate Professionals

Help you find the right house to purchase -53%
Help with price negotiations - 13%
Help with paperwork - 8%
Tell you what comparable homes are selling for - 11%
Help determining how much buyer can afford - 11%
Help find and arrange financing - 2%

Source: 2006 National Association of REALTORS® Profile of Homebuyers and Sellers

Information Sources Used in Home Search

Real estate agent - 85%

Yard sign - 63%

Internet - 80%

Newspaper - 55%

Home book/magazine - 34%

Open house - 47%

Builders - 26%

Television - 11%

Relocation company - 5%

Source: 2006 National Association of REALTORS® Profile of Home Buyers and Sellers

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America's Housing Sector and the Economy

Wednesday, September 12, 2007

by Pastore Team

America's Housing Sector and the Economy

In 2001, existing home prices appreciated at a rate of 6.3%, the largest increase in over a decade.

The majority of studies indicate that households spend 30-40% of their disposable income on housing-related expenses. These expenditures assist in supporting other sectors of the economy.

Nearly 70% of all tax revenues raised by local governments in the US derive from property taxes. Homeowners contribute roughly 43% of property taxes, and commercial property taxes contribute the remaining 57%.

The National Association of Home Builders estimates that the construction of 1,000 single-family homes generates 2,448 full-time jobs in construction and related industries, $79.4 million in wages and $42.5 million in combined local, state and federal revenues and fees.

Source: The Importance of America's Housing Sector to the Economy. On Common Ground, Winter 2003.

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Leadership Quotes

Tuesday, September 11, 2007

by Pastore Team

If you change your direction, you will end up exactly where you are headed.

~Ancient Chinese Proverb

Those who must listen to the pleas and cries of their people should do so patiently. Because the people want attention to which they say even more than the accomplishing for which they came.

~Ptahhotep

How far you go in life depends on your being tender with the young, compassionate with the aged, sympathetic with the striving and tolerant of the weak and strong. Because someday in your life you will have been all of these.
~George Washington Carver