Will the State of the Union Address Boost the Market??? With a Democratic Senate, Republican Congress, and Tea spillingall over the place can Obama's 2011 State of the Union Address cross the isles of divide and put forth some clarity for a plan for the coming year? I sure hope so. It seems that last two years have been a time of pulling the economy out of the dark depths of recession and now its time to stop talking about what bailouts and spending prevented and what spending will create. I think the majority of us can agree that we are in a better place as a country than we were two years ago but we need a road map fast, before we get lost again. We have to raise the debt ceiling to pay for programs, but everyone cries cut the budget spending is out of control. We need to fix the hous... 01/25/2011

Mortgage Rate Outlook for The Week Startin Jan. 24th. Rates last week remained in a tight range and it seems that could be the same this week. There is some economic data being released this week that could shake the markets a bit so it could be interesting. Tomorrow The Case/Schiller Index is released-The S&P/Case-Shiller home price index tracks monthly changes in the value of residential real estate in 20 metropolitan regions across the U.S. The composite indexes and the regional indexes are seen by the markets as measuring changes in existing home prices and are based on single-family home resales. The key composite series are for the longer-running, original 10-city composite series and the newer and expanded 20-city composite. A national index is published quarterly. The indexes ar... 01/24/2011

  Obama's housing proposal has been pushed back to February according to administration sources. This plan was supposed to be unveiled this week but in the words of the administration "It"It would not be unreasonable for something this complex and this far-reaching to be pushed back a little bit," The proposal is supposed to have a plan for the future of the mortgage giants Fannie Mae and Freddie Mac. This proposal could well be industry moving news for all of us. Fannie and Freddie cannot continue to exist in their current state. The Bush administration took over Fannie and Freddie in 2008 as the markets started to tumble, it was intended to be a temporary move but with the markets being so fragile there has been nothing decided as to what to do with them until now. Obama seems to wan... 01/23/2011

365 Things to Do in Worcester County- Attend a home selling seminar in Worcester.  Today, I hosted a home selling seminar and for those who attended, it was an eye opening experience.  I really think that real estate professionals do a poor job as a whole explaining what they do in the home selling transaction.  Well, I was given an opportunity to educate a small group of home sellers on my role as a listing agent.  I also invited other professionals to speak on their part in the process.   The moderator started us on the road to "enlightenment" by giving us a brief overview of the process of selling.  He touched on all aspects such as reason to sell, options of selling on your own, marketing, finding a buyer, negotiating and closing.   Then the stager, Lorie Card, gave us some importan... 01/22/2011

What do Thursday's housing numbers really mean? The existing home sales number made a big unexpected move in December, up over a seasonally adjusted 12%. This was a huge move at a time of year when inventories are always higher, but the question still hangs; can this move be sustained? We need this move to be sustained in order for us to start to make a path out of the housing woods of uncertainty. The banks will start to increase foreclosures again this year and this is going to flood and already saturated market. This jump is without question great for the market and the animal spirits of confidence but it's going to need to continue through the spring and into the summer if we are going to be able to get some footing. 2 Major Speed Bumps In The Way? Financing:Those prospective home b... 01/21/2011

I just wanted to give a brief report on todays' economic data for the housing industry. The Mortgage Application Survey released its weekly data today. This survey contains data from 15 national markets and it covers residential purchase and refinance mortgages of the government and conventional variety. The data showed that there was a 7.7% increase in refinance application from a week ago. This is primarily because the mortgage rates hit their lowest point in a month. This is the highest refinance activity since the beginning of December.The data showed a seasonally adjusted drop on the purchase side of things of 1.9%.     In other housing data.Housing starts dropped to their lowest levels since late 2009. The housing starts track This isn't too much of a surprise with the harsh tempe... 01/19/2011

  Rates for the week starting Monday January 17th. This is a holiday shortened week as we all take the time to remember the life and legacy of Dr. Martin Luther King Jr. There is a lot of data on tap this week that has the potential to move rates either way. Last week I was looking for a pull back on Wed. with a successful bond auction and we had a little pull back but Friday morning before the market turned back around was the best time to lock. This week those with floating loans will have a good idea on where the market is moving after tomorrow. An abundance of 2010 4th quarter earnings reports are going to be out this week starting tomorrow with Citibank (C).As we know the banks have been struggling to find their footing as they do their best to navigate the volatile housing market... 01/17/2011

In the past week I talked about self branding and client relationship management. Below are some clips that demonstrate the cutting edge technology I'm using to try and help me build my business and better service my clients and referral partners. Technology can be an important aspect of self branding. 01/17/2011

The importance of self branding in a volatile industry has never been so important as it has been in the past 4 years in the mortgage industry. Since late 2006 387 lending operations have either closed their lending operations willingly or been forced to close by the FDIC. This left thousands of mortgage professionals playing hop scotch from one company to another hoping to a secure home to place their business. The thousands who started in the mortgage business for the quick buck were faced with the reality that it was no longer a quick buck. The profession was changing and the pendulum of regulation was starting to swing the other way. Even the top originators with established referral partners and client portfolios were left scratching their heads and asking themselves "what now?". T... 01/17/2011

365 Things to do in Worcester County - Sample different guacamole at Mezcal in Worcester.  Over the holidays I won a gift certificate to Niche Hospitality group.  I never had the pleasure, so I did some research on what this is all about. The Niche Hospitality Group is actually several establishments under one umbrella.  There is  The Citizen Wine Bar at 139 Green Street.  Worcester’s first authentic Spanish Tapas and Wine Bar.  Joining the amazing eateries on Worcester’s Restaurant Row, is Southwestern-Mexican-Tequila on Shrewsbury Street. The Citizen to add to Worcester’s changing downtown landscape. Wine, Cheese and Chocolate in a historical building smack dab next to the DCU and courthouse adds flavor to lunch, a pulse to after work and a treat throughout the night to Commercial Str... 01/16/2011

365 things to do in Worceter County - Enjoy a Sunday priced fixed menu in 2 of Worcester's finest restaurants.  Looking for somewhere to go on a Sunday Night?  Want food that is good, place that is upscale, but not pay through the nose?  Well I have three restaurants to offer you to tempt your palette. Sole Proprietor - My personal favorite, for the freshest sea food - $21.99 for a three cource meal: First Course: House Salad Jumbo Shrimp Cocktail Crab Rangoon   Entrée Course North Atlantic Haddock Fillet Jumbo Baked Stuffed Shrimp Tuna Barcelona   Dessert Course Flourless Chocolate Cake Black Bottom Pie Chocolate Tulip Cup 11 Chop House - If you're a meat lover -$24.99 for a three cource meal: First Course: House Salad Fried Calamari Lobster Bisque   Entrée Course Hanger Steak & Scall... 01/15/2011

365 things to do in Worcester County - Enjoy lunch at Lucky's Diner in Worcester.  I took my daughter to lunch yesterday.  I wanted to try a new place and heard good things about Lucky's Diner.  This establishment is located in the "old northworks building" on Grove St., just a block or two from my office.  The restaurant itself is on the basement floor.   We stood in the doorway for a few minutes.  A waiter cleaning off a table asked if we've been there before.  We said now.  "Ohhh" he muttered with an understanding glance.  Then he explained how things worked around there.  Basically, it really works more like a diner.  You go upto the counter, look at the menu and the specials and order.  You pay your tab and find a seat.  A few minutes later the waiter brings the food to the table. ... 01/14/2011

This is the view from my walkway down my street. The internet said my area got 16-20 inches. It's definately deeper in some places. I have to give a big shout-out to my neighbor who came by with his snowblower. I'm a corner house so I have to shovel both sidewalks. Being in a valley I was hoping that the storm would miss us. No such luck, lol. It looks so pretty in pictures... 01/13/2011

  365 Things to do in Worcester County- eat at Five Guys Burgers and Fries.  Yesterday, my oldest daughter brought me lunch at work and I was so impressed with the food that I asked her to comment on her experience and contribute her opinion on my blog:   This is Jane’s daughter Leanne telling you about my trip to Five Guys Burgers and Fries restaurant at the Lincoln Plaza in Worcester. Mom really wanted me to write about this particular venture because I brought her a burger on my way home and she says “I’m pretty sure that’s the best burger and fries I have ever had”. In the Lincoln plaza there are lots of places to eat so it’s not surprising that Five Guys might get overlooked. Our family is particularly fond of Texas Roadhouse which has been mentioned in a previous blog. However Fiv... 01/12/2011

This mortgage rate analysis is solely my opinion. I am an avid day trader and I closely follow the stock market, bond market, and mortgage backed security market. It is crucial for me as a mortgage professional to track the daily mortgage rates and I'm going to use this weekly post to hopefully add some some good information for everyone to pass on to their clients and referral partners. Rates are so important because I want to make I'm providing my refinance clients the lowest rates available and therefore the biggest monthly savings. For prospective home buyers these rates are going to give them the monthly payments they are going to budget their life around. The lower the payments the happier the clients and usually the more likely they are going to refer their friends and family to ... 01/08/2011

365 things to do in Worcester County - Attend a home buying seminar in Worcester.  Today, I hosed a home buying seminar.  The attendees were treated to a lot of valuable information and, of course coffee and donuts.   Bob Becker, the moderator, went over the process of buying the house.  He described the initial decision the benefits of owning versus renting, the process of looking of the home, making an offer, and the legal ramification. Tim Moore, a lender with Gateway Mortgage went next and gave us the options on programs that are available.  He explained 203K, a program that allows a home buyer to build in moneys to fix the property into the loan.  He explained the difference between conventional and FHA programs and gave us an update on the changes in the mortgage industry. I intro... 01/08/2011

How Does YOUR Mortgage Professional Reciprocate? Need your help! Referrals: We all love em.  But if you are sitting where I am it is hard to make those Realtors in your life feel special and reciprocate  for their much appreciated business. I generate, on average, 3 or 4 non-Realtor-attached solid purchase referrals (wow, that needs edited) a year from my sphere.  That doesn't go far when you have way more Realtors than that sending you business on a regular basis. So I need your help!  What do YOUR favorite Mortgage Professionals do (other than get it closed on time!)  to: 1. Make you feel appreciated! 2. Help you grow your business in non-referral ways. 3. Generate referrals for you in ways that I may not be thinking. I LOVE my Realtors and want to do everything I can do to help them ... 01/07/2011

365 Things to Do in Worcester County- Celebrate David Bowie's Birthday in Worcester.  Did you know that David Bowie is turning 64 on January 8.  And Ralph's Diner is planning a tribute show to celebrate the occasion.  David Bowie was born in 1947 with a much less illustrious name of David Robert Jones.  He became very popular in the 70's as a musician but he is also been known as an actor. In 1975, Bowie achieved his first major American crossover success with the number-one single "Fame", co-written with John Lennon, and the hit album Young Americans. Starting at 9:00 pm, Ralph's Diner on 95 Prescott St., in Worcester, Massachusetts will Celebrate David Bowie's 64th Birthday! I noticed this information in the "Singles Social" for this week end.  So, if you are looking to meet fellow Bo... 01/07/2011

Prospect Mortgage Greater Worcester Welcomes Our New Loan Officer Assistant! We are psyched to welcome Brad Vdovjak (DO-VEE-AK) as our new Loan Officer Assistant here in Greater Worcester and Westboro!Brad will be handling all duties from loan submission to funding and everything in-between, leaving us to teach, educate and generate!  We are excited to have one point of contact for our Realtors and Buyers and that you will be getting constant updates on your loans in process (whether you are the List Agent, Buyer, Buyer's Agent or Attorney).  We feel that every time we get an email or phone call looking for a status WE FAIL YOU as Loan Officers so we are going on the offensive and getting you the status updates first!We have grown to the point where our service levels will suffer if we ... 01/05/2011

365 things to do in Worcester County - learn of Rock n Roll history in Worcester at Lucky Dog Music Hall.  I'm always on the look for really interesting places to go and things to do in Worcester County.  At first glance, Lucky Dog is for the younger (but over 21) crowd.  This Music Hall caters to bands, trying to get some play.  Ok, even at second glance, Lucky Dog is a place where young adults go to listen to music. But do you know the historical significance of Lucky Dog? "In 1981 the Rolling Stones played a surprise concert at the Lucky Dog Music Hall (at the time Sir Morgan’s Cove) and it was a big deal. Now, more than 20 years later, it’s still a big deal. The Stones were nearing the end of a six-week stay at Long View Farm, a recording studio in North Brookfield, Massachusetts, w... 01/05/2011