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Member You - Using the Market Conditions to help in the Fresh Start Presentation
The most important thing you should remember when you go in search of purchasing a used or even a new car is that the person selling the car wants to sell the car. They may not come right out and lie to you about the car in question; however, they may not mention any problems if you do not ask and yes some may even lie to rid themselves of a lemon.The number one thing you should do before searching for a used car is to know what type of car you would like or at least have some models and types in mind. You can search online or talk with car dealerships to learn what the price might be for the make and model of the car you are seeking. You can even look up the car in the NADA to learn what the car is worth by year, make, and model. This is a good estimate on what you would get if you traded that car in to a dealer. Okay, now you know how much money you need for the different cars you have in mind.Now, where do you go to find out about reliability and other factors for this car? You can search online for reviews at car forums, with consumer reports, or chat with others that have the car now or owned one at sometime. Ask pertinent questions such as what parts were replaced, gas mileage, and even questions regarding comfort.It is always in your best interest to take any used car to your own mechanic prior to purchasing instead of going on your love for the car. Just because you hav
This advertisement of the fall of real estate prices and the end of the price appreciation stops the appraisers’ from appraising the properties correctly. Instead of using the standard comparable. The appraiser checks a box and states that property pricing are declining and begins to cover himself/herself with lower and lower values for the property. This causes the banks to tighten up on underwriting guidelines making it harder to refinance their way out of the foreclosure.
Without the refinance the homeowner either has to do one of the following:
1) Restructure the mortgage causing higher payments. Problem with a restructure is that it costs more monthly for a short period of time. Usually very hard for the homeowner to come up with the money.
2) Sell on the open market. Problem is that market time has risen to the point where the foreclosure process is faster than the tie they have to sell the property.
3) File for bankruptcy. This normally costs $2,500 for the lawyer, filing fees and 10% of the plan debt to the trustee. It also has a 75% failure rate.
Consequently our FSP becomes a very viable option for the homeowner.
We are in this market now so find your local newspaper articles and put them in your book to show the homeowners what is happening out there. Make your presentation and then close the deal.
The locators biggest problem during this
number five in a series taken from:How to Evaluate and Profit from a Business Opportunity - The Entrepreneur's GuideWhen you start looking into owning your own business you will find many businesses for sale. Existing businesses provide the opportunity to review real-time situations. You can visit the operation, touch the products or experience the services. You can look at the financial information, and perhaps talk to customers, suppliers, and employees. You can get a real feel for what is happening.As you look you may become intimidated by the magnitude of what you see. Thoughts such as, "It's too big, too many employees, I'll never be able to get my arms around this. And the asking price - how will I ever get that much money."At this point many people will begin thinking about starting their own business. They feel comfortable starting small, just themselves and maybe one part-time person. They also like the idea of investing a little money at a time -- to match the needs of the business.Either approach can be good, or both can be bad. If you buy a business and incorrectly evaluate the cash needed and your resources, you could find yourself unable to provide the capital when it is needed. If you start a business and limit your investment of additional cash because you haven’t seen positive results, you can starve the business and it may fail.The soluti
The definition of the Sellers Market, Buyers Market and Market in equilibrium is a look back model that uses two figures to determine a label for which market you are in. They are market time and inventory.
Market Time Defined
Market time is defined by the amount of days that a property in the location stays on the market. For example in a Sellers Market average sales time will be under sixty (60) days. Equal Market average sales time will be under one hundred (100) days. For a Buyers market average sale time will be over 100 days.
Inventory defined
Inventory is simply the amount of houses on the market divided by the average amount of sales typical for that area per month. Sellers Market would be less than three (3) months inventory on hand in a given area. Equal Market would be between three months and six months of inventory on hand. Buyers Market would be having inventory over six months on hand.
SELLERS MARKET FSP
A sellers market is a market where a property will sell within sixty days of being introduced to the market. This market also has a low inventory of properties on the market. This would be defined as anything less than three months inventory in your specific area. Another indication of a sellers market is that the price of the product begins to appreciate until it finally is out of the reach of the buyers causing the market to cool down.
This market can be prolonged by certain financial products such as the interest only loan, negative amortization type of loan, graduate payment loan and of course the variable rate loan. All of which we have seen in both Philadelphia and Massachusetts.
Based upon all of the factors going against the back up plan we offer it is a hard position to find the deals that we need during this type of market and as purchasers we are forced to purchase at auction as well as going to the properties and trying to purchase pre-foreclosure.
Locator in Hot Sellers Market
The locator in a hot market has a hard presentation. Every homeowner feels that they can get market price and that is more than we can pay. This happens because local neighborhood gossip, newspapers in the area saying how much property has risen year over year or month over month. Homeowners are saturated with information about how valuable their real estate is worth.
Next the homeowner is targeted with lending offers to refinance because the value of the home has skyrocketed- use your homes as an ATM machine to pull out some equity and live for a few more years.
Both the low market time and low inventory time cause our business of purchasing properties to be very frustrating. The homeowners are aware that they can sell a home relatively fast even quicker than an auction can be had.
It Makes for a hard market to purchase properties prior to the auction. It is what we call our recession. It allows a homeowner to choose from a group of choices. Essentially we are a back up plan or safety net. In this type of market we need to price correctly and purchase at the last minute from homeowners who have tried everything else.
Buyers Market FSP
A buyers market is defined by sales of properties taking takes over 100 days to sell. The Inventory in this market will stack up to well over six months worth of sales. The homeowner in this situation has only a few options. Financing companies say that they can refinance but usually can not due to the falling value of the appraisal on the home. Remember the newspapers are littered with information regarding the fall of the real estate market. It is the fear of the day for most local newspapers.
Here are a few local articles
“Sellers Frustrated With Real Estate Market
Home Sales Down In Bay State
POSTED: 6:05 pm EDT August 15, 2006
UPDATED: 7:37 pm EDT August 15, 2006
WALPOLE, Mass. -- Quarterly home sales are down in a widespread area of Massachusetts, but prices are only down slightly.
Copyright 2006 by TheBostonChannel.com”
“Market unease: Home prices fall 3.5%
Weakening demand leads to largest decline in Mass. in 13 years
By Kimberly Blanton, Globe Staff | August 24, 2006
Home prices in Massachusetts fell 3.5 percent in July, the largest decline in 13 years, as the slowdown in the real estate market finally led sellers to cut their prices.”
“July home sales plunge 27%
The Lowell Sun
Massachusetts single-family home sales plunged almost 27 percent in July, the largest year-over-year monthly drop in more than 11 years, according to a report released today by The Warren Group of Boston. “
“Buyer’s market: Housing sales dip, prices may follow
By Ben Aaronson/ Staff Writer
Thursday, August 24, 2006 - Updated: 09:08 AM EST
You can’t drive through town without seeing a "For Sale" or "Open House" sign and they represent a statewide trend.
According to a recent report by the Massachusetts Association of Realtors, home sales statewide fell nearly 11 percent in the second quarter (April to June), marking the fifth consecutive quarter that activity has declined from the same period the pervious year. Housing inventories are at an all-time high and homes are staying on the market longer, the report found. “
Locator in Buyers Market
The locator in a buyer market has a much easier presentation. Every homeowner has undergone the conditioning of the newspapers, local gossip etc. that the sky is falling rapidly and that their investment is no longer worth what it was one year ago.
This advertisement of the fall of real estate prices and the end of the price appreciation stops the appraisers’ from appraising the properties correctly. Instead of using the standard comparable. The appraiser checks a box and states that property pricing are declining and begins to cover himself/herself with lower and lower values for the property. This causes the banks to tighten up on underwriting guidelines making it harder to refinance their way out of the foreclosure.
Without the refinance the homeowner either has to do one of the following:
1) Restructure the mortgage causing higher payments. Problem with a restructure is that it costs more monthly for a short period of time. Usually very hard for the homeowner to come up with the money.
2) Sell on the open market. Problem is that market time has risen to the point where the foreclosure process is faster than the tie they have to sell the property.
3) File for bankruptcy. This normally costs $2,500 for the lawyer, filing fees and 10% of the plan debt to the trustee. It also has a 75% failure rate.
Consequently our FSP becomes a very viable option for the homeowner.
We are in this market now so find your local newspaper articles and put them in your book to show the homeowners what is happening out there. Make your presentation and then close the deal.
The locators biggest problem during this
I just want to say thank you to everybody who is taking the time to read this series. I love reading the responses and I am glad that everyone is enjoying it. I would like to remind everyone to get their friends and family to have a look. Remember I use these for affiliate marketing but I also use a lot of them in real life. I plan on making these into an e-book eventually so use them while they are free.81. Get Off Your ButtIt’s one thing to put this big plan together but it’s another to start implementing it. Just get going. Quit over thinking and analyzing everything. You need to produce in order to achieve your goals. You have dreams that you want to come true but if you don’t get off your butt then they will always be dreams instead of reality.82. Find Out What You’re Not DoingI don’t care who it is. It could be the weakest or strongest affiliate marketer. They all have some sort of procrastinations. They put things off. These things are usually things they don’t like or things that they are scared off. You have to make a list of your procrastinations and deal with them. Do whatever it takes. Hell you can take a personal development course or something like that. Go to your local college and see what they offer.83. Do You Want It.?If you are trying to achieve your goals because you need to pay your debts off rather than wanting to pa
SELLERS MARKET FSP
A sellers market is a market where a property will sell within sixty days of being introduced to the market. This market also has a low inventory of properties on the market. This would be defined as anything less than three months inventory in your specific area. Another indication of a sellers market is that the price of the product begins to appreciate until it finally is out of the reach of the buyers causing the market to cool down.
This market can be prolonged by certain financial products such as the interest only loan, negative amortization type of loan, graduate payment loan and of course the variable rate loan. All of which we have seen in both Philadelphia and Massachusetts.
Based upon all of the factors going against the back up plan we offer it is a hard position to find the deals that we need during this type of market and as purchasers we are forced to purchase at auction as well as going to the properties and trying to purchase pre-foreclosure.
Locator in Hot Sellers Market
The locator in a hot market has a hard presentation. Every homeowner feels that they can get market price and that is more than we can pay. This happens because local neighborhood gossip, newspapers in the area saying how much property has risen year over year or month over month. Homeowners are saturated with information about how valuable their real estate is worth.
Next the homeowner is targeted with lending offers to refinance because the value of the home has skyrocketed- use your homes as an ATM machine to pull out some equity and live for a few more years.
Both the low market time and low inventory time cause our business of purchasing properties to be very frustrating. The homeowners are aware that they can sell a home relatively fast even quicker than an auction can be had.
It Makes for a hard market to purchase properties prior to the auction. It is what we call our recession. It allows a homeowner to choose from a group of choices. Essentially we are a back up plan or safety net. In this type of market we need to price correctly and purchase at the last minute from homeowners who have tried everything else.
Buyers Market FSP
A buyers market is defined by sales of properties taking takes over 100 days to sell. The Inventory in this market will stack up to well over six months worth of sales. The homeowner in this situation has only a few options. Financing companies say that they can refinance but usually can not due to the falling value of the appraisal on the home. Remember the newspapers are littered with information regarding the fall of the real estate market. It is the fear of the day for most local newspapers.
Here are a few local articles
“Sellers Frustrated With Real Estate Market
Home Sales Down In Bay State
POSTED: 6:05 pm EDT August 15, 2006
UPDATED: 7:37 pm EDT August 15, 2006
WALPOLE, Mass. -- Quarterly home sales are down in a widespread area of Massachusetts, but prices are only down slightly.
Copyright 2006 by TheBostonChannel.com”
“Market unease: Home prices fall 3.5%
Weakening demand leads to largest decline in Mass. in 13 years
By Kimberly Blanton, Globe Staff | August 24, 2006
Home prices in Massachusetts fell 3.5 percent in July, the largest decline in 13 years, as the slowdown in the real estate market finally led sellers to cut their prices.”
“July home sales plunge 27%
The Lowell Sun
Massachusetts single-family home sales plunged almost 27 percent in July, the largest year-over-year monthly drop in more than 11 years, according to a report released today by The Warren Group of Boston. “
“Buyer’s market: Housing sales dip, prices may follow
By Ben Aaronson/ Staff Writer
Thursday, August 24, 2006 - Updated: 09:08 AM EST
You can’t drive through town without seeing a "For Sale" or "Open House" sign and they represent a statewide trend.
According to a recent report by the Massachusetts Association of Realtors, home sales statewide fell nearly 11 percent in the second quarter (April to June), marking the fifth consecutive quarter that activity has declined from the same period the pervious year. Housing inventories are at an all-time high and homes are staying on the market longer, the report found. “
Locator in Buyers Market
The locator in a buyer market has a much easier presentation. Every homeowner has undergone the conditioning of the newspapers, local gossip etc. that the sky is falling rapidly and that their investment is no longer worth what it was one year ago.
This advertisement of the fall of real estate prices and the end of the price appreciation stops the appraisers’ from appraising the properties correctly. Instead of using the standard comparable. The appraiser checks a box and states that property pricing are declining and begins to cover himself/herself with lower and lower values for the property. This causes the banks to tighten up on underwriting guidelines making it harder to refinance their way out of the foreclosure.
Without the refinance the homeowner either has to do one of the following:
1) Restructure the mortgage causing higher payments. Problem with a restructure is that it costs more monthly for a short period of time. Usually very hard for the homeowner to come up with the money.
2) Sell on the open market. Problem is that market time has risen to the point where the foreclosure process is faster than the tie they have to sell the property.
3) File for bankruptcy. This normally costs $2,500 for the lawyer, filing fees and 10% of the plan debt to the trustee. It also has a 75% failure rate.
Consequently our FSP becomes a very viable option for the homeowner.
We are in this market now so find your local newspaper articles and put them in your book to show the homeowners what is happening out there. Make your presentation and then close the deal.
The locators biggest problem during this
In the world's major economic Marketplace where exchanges achieve up to trillions of dollars each day, many people would really want to take part in this Marketplace. Aside from being the major financial Marketplace in the world, Forex is also the most liquid Marketplace in the world where trades are completed 24 hours a day.A lot of Traders have turn out to be extremely wealthy Trading in the Forex Marketplace. And, many people who trade in the Forex Marketplace on a daily basis have found a great way to replace their day jobs. Some even became millionaires almost overnight by just Trading in this economic Marketplace.Trading in the Forex Marketplace can be very attractive. However, you should also know that there have been people who suffered extreme financial losses in the Forex Marketplace. It is true that the Forex Marketplace offers a very good money-making opportunity to a lot of people, but it also has its risks.It is a fact that people who didn't have the right knowledge and skills Trading in the Forex Marketplace suffered huge financial losses and some even went into debt. So, before you enter the Forex Marketplace, it is essential that you should have the necessary knowledge and skills as a Forex trader in order to minimize the risk of losing money and maximize the potential of making money.Many people who were doing well in the Forex Marketplace have went thr
Next the homeowner is targeted with lending offers to refinance because the value of the home has skyrocketed- use your homes as an ATM machine to pull out some equity and live for a few more years.
Both the low market time and low inventory time cause our business of purchasing properties to be very frustrating. The homeowners are aware that they can sell a home relatively fast even quicker than an auction can be had.
It Makes for a hard market to purchase properties prior to the auction. It is what we call our recession. It allows a homeowner to choose from a group of choices. Essentially we are a back up plan or safety net. In this type of market we need to price correctly and purchase at the last minute from homeowners who have tried everything else.
Buyers Market FSP
A buyers market is defined by sales of properties taking takes over 100 days to sell. The Inventory in this market will stack up to well over six months worth of sales. The homeowner in this situation has only a few options. Financing companies say that they can refinance but usually can not due to the falling value of the appraisal on the home. Remember the newspapers are littered with information regarding the fall of the real estate market. It is the fear of the day for most local newspapers.
Here are a few local articles
“Sellers Frustrated With Real Estate Market
Home Sales Down In Bay State
POSTED: 6:05 pm EDT August 15, 2006
UPDATED: 7:37 pm EDT August 15, 2006
WALPOLE, Mass. -- Quarterly home sales are down in a widespread area of Massachusetts, but prices are only down slightly.
Copyright 2006 by TheBostonChannel.com”
“Market unease: Home prices fall 3.5%
Weakening demand leads to largest decline in Mass. in 13 years
By Kimberly Blanton, Globe Staff | August 24, 2006
Home prices in Massachusetts fell 3.5 percent in July, the largest decline in 13 years, as the slowdown in the real estate market finally led sellers to cut their prices.”
“July home sales plunge 27%
The Lowell Sun
Massachusetts single-family home sales plunged almost 27 percent in July, the largest year-over-year monthly drop in more than 11 years, according to a report released today by The Warren Group of Boston. “
“Buyer’s market: Housing sales dip, prices may follow
By Ben Aaronson/ Staff Writer
Thursday, August 24, 2006 - Updated: 09:08 AM EST
You can’t drive through town without seeing a "For Sale" or "Open House" sign and they represent a statewide trend.
According to a recent report by the Massachusetts Association of Realtors, home sales statewide fell nearly 11 percent in the second quarter (April to June), marking the fifth consecutive quarter that activity has declined from the same period the pervious year. Housing inventories are at an all-time high and homes are staying on the market longer, the report found. “
Locator in Buyers Market
The locator in a buyer market has a much easier presentation. Every homeowner has undergone the conditioning of the newspapers, local gossip etc. that the sky is falling rapidly and that their investment is no longer worth what it was one year ago.
This advertisement of the fall of real estate prices and the end of the price appreciation stops the appraisers’ from appraising the properties correctly. Instead of using the standard comparable. The appraiser checks a box and states that property pricing are declining and begins to cover himself/herself with lower and lower values for the property. This causes the banks to tighten up on underwriting guidelines making it harder to refinance their way out of the foreclosure.
Without the refinance the homeowner either has to do one of the following:
1) Restructure the mortgage causing higher payments. Problem with a restructure is that it costs more monthly for a short period of time. Usually very hard for the homeowner to come up with the money.
2) Sell on the open market. Problem is that market time has risen to the point where the foreclosure process is faster than the tie they have to sell the property.
3) File for bankruptcy. This normally costs $2,500 for the lawyer, filing fees and 10% of the plan debt to the trustee. It also has a 75% failure rate.
Consequently our FSP becomes a very viable option for the homeowner.
We are in this market now so find your local newspaper articles and put them in your book to show the homeowners what is happening out there. Make your presentation and then close the deal.
The locators biggest problem during this
Over the years, I guess I've attended thousands of corporate get togethers over dinner. I have, either as an out-of-towner, or hosting out-of-towners attending a conference or workshop, observed the behaviour of individuals and teams at dinner and how they reflect the corporate culture.There are five corporate cultures which I have identified with behaviours at dinner.The Alpha Male DinnerThe alpha male dinner environment is, of course, no longer exclusively male, although the behaviour is still easily identified as masculine. This is the dinner where at least some of the boys try to outdo each other. Whether it is their knowledge of wine or the selection of the most expensive menu items and restaurants or the telling of the most outrageous jokes or the heaviest drinking, this dinner is about competing.There is no gentle discourse at this dinner. Some of the attendees are likely to be loud. Competition descends into being heard above the din of people talking over each other.I have mostly found that this behaviour at dinner is repeated at work, even in teams I did not really know. People did not just work in silos unaware of what other teams were doing or how they affected each other. They worked in fortresses, well aware the impact they were having on each other. They would protect their turf and their ability to promote their personal cause at a
UPDATED: 7:37 pm EDT August 15, 2006
WALPOLE, Mass. -- Quarterly home sales are down in a widespread area of Massachusetts, but prices are only down slightly.
Copyright 2006 by TheBostonChannel.com”
“Market unease: Home prices fall 3.5%
Weakening demand leads to largest decline in Mass. in 13 years
By Kimberly Blanton, Globe Staff | August 24, 2006
Home prices in Massachusetts fell 3.5 percent in July, the largest decline in 13 years, as the slowdown in the real estate market finally led sellers to cut their prices.”
“July home sales plunge 27%
The Lowell Sun
Massachusetts single-family home sales plunged almost 27 percent in July, the largest year-over-year monthly drop in more than 11 years, according to a report released today by The Warren Group of Boston. “
“Buyer’s market: Housing sales dip, prices may follow
By Ben Aaronson/ Staff Writer
Thursday, August 24, 2006 - Updated: 09:08 AM EST
You can’t drive through town without seeing a "For Sale" or "Open House" sign and they represent a statewide trend.
According to a recent report by the Massachusetts Association of Realtors, home sales statewide fell nearly 11 percent in the second quarter (April to June), marking the fifth consecutive quarter that activity has declined from the same period the pervious year. Housing inventories are at an all-time high and homes are staying on the market longer, the report found. “
Locator in Buyers Market
The locator in a buyer market has a much easier presentation. Every homeowner has undergone the conditioning of the newspapers, local gossip etc. that the sky is falling rapidly and that their investment is no longer worth what it was one year ago.
This advertisement of the fall of real estate prices and the end of the price appreciation stops the appraisers’ from appraising the properties correctly. Instead of using the standard comparable. The appraiser checks a box and states that property pricing are declining and begins to cover himself/herself with lower and lower values for the property. This causes the banks to tighten up on underwriting guidelines making it harder to refinance their way out of the foreclosure.
Without the refinance the homeowner either has to do one of the following:
1) Restructure the mortgage causing higher payments. Problem with a restructure is that it costs more monthly for a short period of time. Usually very hard for the homeowner to come up with the money.
2) Sell on the open market. Problem is that market time has risen to the point where the foreclosure process is faster than the tie they have to sell the property.
3) File for bankruptcy. This normally costs $2,500 for the lawyer, filing fees and 10% of the plan debt to the trustee. It also has a 75% failure rate.
Consequently our FSP becomes a very viable option for the homeowner.
We are in this market now so find your local newspaper articles and put them in your book to show the homeowners what is happening out there. Make your presentation and then close the deal.
The locators biggest problem during this
Landlords and Property Owners have many options when it comes to the management of their property or properties. From sorting everything on their own to employing the services of a property management company. Here are therefore some tips for Landlords and Property Owners to make sure their assets are protected:What can you do to protect your property?Landlord Insurance is available so that in the event of a loss (by an insured event) you will be protected and covered. In order to reduce the chances of a loss you can however take certain steps to help. These include:- Make your property more secure by installing deadlocks on doors and locks on the windows.- Install an alarm system. Many insurers will offer a lower premium because you have lowered the risk of loss through theft. For certain postal areas a minimum level of security will be required.- Remove potential fire hazards from around the outside of the house as well as inside- particularly around the kitchen.- Make sure you have working smoke detectors and a suitable fire extinguisher. Put the extinguisher somewhere handy and make sure members of your household know how to use it.What should you insure your contents for?As a landlord, it's quite possible that the property that you are letting contains contents that you own. It is important to note
This advertisement of the fall of real estate prices and the end of the price appreciation stops the appraisers’ from appraising the properties correctly. Instead of using the standard comparable. The appraiser checks a box and states that property pricing are declining and begins to cover himself/herself with lower and lower values for the property. This causes the banks to tighten up on underwriting guidelines making it harder to refinance their way out of the foreclosure.
Without the refinance the homeowner either has to do one of the following:
1) Restructure the mortgage causing higher payments. Problem with a restructure is that it costs more monthly for a short period of time. Usually very hard for the homeowner to come up with the money.
2) Sell on the open market. Problem is that market time has risen to the point where the foreclosure process is faster than the tie they have to sell the property.
3) File for bankruptcy. This normally costs $2,500 for the lawyer, filing fees and 10% of the plan debt to the trustee. It also has a 75% failure rate.
Consequently our FSP becomes a very viable option for the homeowner.
We are in this market now so find your local newspaper articles and put them in your book to show the homeowners what is happening out there. Make your presentation and then close the deal.
The locators biggest problem during this time is the manager (Investor) has more trouble pricing the properties because of the downward spiral of the market.
Market In Equilibrium:
An even market is when a property is sold within 61-100 days of listing. Inventory is usually six months or less. This is the market that is the easiest to procure deals. It allows the investor to feel warm and fuzzy knowing almost to the penny that the property he/she is purchasing is worth what they think that it is worth.
The Newspapers simply go on to another story and leave the real estate market alone or have articles stating that the market is stable.
Locator in Equilibrium
The locator in a stable market has the best of all worlds. Prices are staying steady keeping the manager happy and all is quiet regarding real estate in the newspapers.
Again it is an easy presentation. The homeowner has seen his equity disappear and no longer knows what the value of the real estate is and just wants to get out from the obligation.
The homeowner is left with one of the three options of a down market:
1) Restructure the mortgage causing higher payments. Problem with a restructure is that it costs more monthly for a short period of time. Usually very hard for the homeowner to come up with the money.
2) Sell on the open market. Problem is that market time has risen to the point where the foreclosure process is faster than the tie they have to sell the property.
3) File for bankruptcy. This normally costs $2,500 for the lawyer, filing fees and 10% of the plan debt to the trustee. It also has a 75% failure rate.
Consequently our FSP becomes a very viable option for the homeowner.
So what does this all have to do with the Fresh Start Presentation (FSP)? Remember the Fresh Start Presentation is the Homeowner Options slide show that you have. It goes through the advantages and disadvantages of the seven (7) options available to the financially distressed homeowner.
They are as follows:
1) Sell on the Open Market
2) Refinance the home
3) Restructure the mortgage
4) File bankruptcy
5) Borrow from friends and family
6) Let it go to foreclosure
7) Sell to an investor
Well each type of market has different advantages and disadvantages to the locator.
Use the newspapers to translate into a selling benefit during your FSP. We need to educate the homeowner that we are in a period where houses do not sell for last years prices but that they are actually going down in price each and every day. Time as usual is the enemy of a homeowner in this situation.
A good locator that wants to maximize his sales would do the following:
1) Read the local newspaper where your route is and cut out the articles that will help get the homeowner off the price they thought it was worth. Copy the article and give it to the homeowner when talking about the price.
2) While he/she is reading the article tell the homeowner that the property may be worth 3,4,5,6,7% less by the time they actually move out, the property is repainted and put on the market by the company.
3) This risk is for our company to worry about unless the homeowner decides to try to sell it on his own.
Good Hunting
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