Buffalo Office Busines Meeting January 10, 2012 “The Best Place for The Best People”The Most Successful Office in Wright County!
Thought of the Day•Weekly Market Activity Report – Year End •Pended Sales •Inventory of Homes for Sale •Months Supply of Inventory•Office Stats •Increased our Volume of Sales from $62.7 Million to $70 Million…11.5% •Increased our Number of Homes Sold (Units) from 392 to 500…27.9% •Listing decreased from 346 to 299…(13.5%)•Buffalo Market Share •2006 7.1% Share •2007 11.3% Share •2008 •2009 11.7% Share 11.7% Share A Goal Properly Set •2010 •2011 12.6% Share 17.0% Share is Halfway Reached
Thought of the Day•List Price to Sales Price Ratio •The market is at 90.6%...our office is at 95.2%•Wright County Market Share •2010 6.3% Share 210 total sales •2011 7.7% Share 268 total sales •In Wright County there were 3426 sales in 2010…in 2011 there were 3490 •A difference of 64 sales•Buffalo Absorption Rate •70 Homes both single family and town homes currently on the market •138 Sales over the last 6 months = 23 per month •3.04 Month Supply The effort we put in over the next two years will determine the next ten!
Do Interest Rates Matter? Based on a $175,000 Home, Principal and Interest Only: 4.0% $835.48/ month 4.375% $882.17/ month 4. 75% $912.88/ month 5.0% $939.44/ month 6.0% $1,049.21/ month 7.0% $1,164.28/ month*A potential savings of $328.80 per month, $3,945.60 per year or for thereal big number; $118,368.00 over the life of the loan. Do interest ratesmatter?
Weekend of March 17th the automated underwriting system (DU) will be updated. The updates include: • Credit risk assessment will be modified to give more borrowers the ability to refi using the program. • LTV limits are being removed for terms up to 30 years • Borrower Benefit Requirement – must have a reduction in interest rate or a reduction in the loan amortization term • Eligible properties to waive the appraisal: • 1-4 unit properties • Primary residences, second homes, investment properties • Casefiles with an LTV, CLTV or HCLTV greater than 125% • Attached & detached properties, units in a condo, coop and manufactured homes
• LLPA (Loan Level Price Adjustments) for principal residences with LTV’s greater than 80% with less than or equal to 20 yrs is now 0. Federal Reserve chairman Ben Bernanke is pressuring the Federal Housing Finance Agency to take additional steps to make the newly implemented HARP 2.0 program more accessible for homeowners Bernanke recommends "reducing further or perhaps eliminating remaining" loan level price adjustment fees on HARP loans since the goal is to increase refinancing for underwater – but current – mortgagors with Fannie Mae or Freddie Mac loans.
December Top ListersTerri Danielson 10 UnitsDave Perry 2 UnitsEric Beckman 1 Unit/$269,000Ed Sjolin 1 Unit/$199,000Lori Hogan 1 Unit/$181,000
December Top SellersJulie Smola $1,148,900Terri Danielson $ 882,300The Schaust’s $ 360,000Dave Perry $ 357,600Ken Tsoi/Tonia Evans $ 287,500 (tie)
More Info: 952-844-8400 hotwirexpress.com/blueu Upcoming Classes:1/12 – Residential Leasing (Required) – Minneapolis Parkway (3.75 CE) 9:00 – 12:451/19 – Agency, Fair Housing, & Realtor Code of Ethics - Edina Regional (3.75 CE) 9:00 – 12:451/19 – Residential Leasing (Required) – Rochester (3.75 CE) 9:00 – 12:451/20 – Residential Leasing (Required) – Eden Prairie (3.75 CE) 9:30 – 1:151/27 – Contract for Deed, Assumptions & Rent-to-Own – Edina Regional (3.75 CE) 9:00 – 12:451/27 – Residential Leasing (Required) – Apple Valley (3.75 CE) 9:30 – 1:152/1 – Intro to Social Media Tools – Fridley (3 CE) 9:00 – 12:002/2 – Staying in Touch on the Go and Working the Cloud – Shoreview (3 CE) 9:00 – 12:002/2 – NorthstarMLS 101 - Eden Prairie (2 CE) 10:00 – 12:00
U-Pass Special Through January Buy a U-Pass – Good for one FULL Year from Month Purchased Example - Buy it Now and use it until NEXT January (won’t expire end of June) New Year – Special - $89 until 1/31/2012 Starting February 1st still only $99 More Info 952-844-8400 hotwirexpress.com/blueu
CRS Course Coming in 2012!CRS 202: SALES STRATEGIES with Jackie Leavenworth Co-Sponsored by: CRS – MN Chapter and Coldwell Banker Burnet – BLUE February 9 & 10, U! - 5:00 8:30 7550 France Ave - Edina REGISTRATION FEE: $199 (U-Pass not Applicable) 12 Hours CE Pending Active MN CRS Chapter members will receive the $45 rebate after taking the course More Info 952-844-8400 or hotwirexpress.com/blueu
Legal Assistance Program Agreements Due to OAs by 1/15/2012 To insure your ongoing coverage – ALL licensed agents, regardless of status (includes licensed assistants, licensed OAs, Sales Managers, BVPs), must sign these forms and turn into their OAs by 1/15/2012 to avoid lapse in coverage There are Two Payment Options - Regardless of Payment Option Chosen – the LAP Agreements Need to be Signed and Turned in by 1/15/2012
Good Things Underway for After 40 years of service, American Home Shield is offering a new look, a new feel, and a new brand! Here are a few of the key initiatives: New marketing campaign to help you better connect with your sellers HVAC Case Management improvements to better serve your customers Bundled pricing on their most comprehensive coverage A new and enhanced website with more tools and
Gen Blue 2012 February 29th - March 3th Sign up Now at: Glenblue.coldwellbanker.com Or Click Here
Wright County Community Action, Inc. Cathy Thisius Cthisius@WCCAWEB.Com 320-963-6500 ext. 231
Happy Birthday to….Colleen Ernesti January 11thTerri Danielson January 11thCami Persson January 11thMary Aiken January 16thDrew Evans January 22ndBecky Schaust January 27thGail Wright January 29thJulie Smola January 30th
Happy Anniversary to…Denise Bernick January 1st 8 YearsBecky Schaust January 5th 20 Years
Month to Date Sales and ListingsSales ListingsTerri – 2 Terri – 4Lori – 1 Becky & Doug – 2 The Lindahl’s – 2 Julie S - 1
Administrative Announcements•Reminder – next Monday is Martin Luther King Day•Tour requests for next Tuesday (1/17) due by 8am on Friday (1/13)•Drummer deadline is moved up one day•Legal Assistance Forms & payments due 1/15 (Sun) – be sure to haveforms on my desk by the end of Monday at the latest.
Productivity Workshops/ Development• Monday Mornings-9 to 9:30/10 Accountability – Setting goals and holding each other accountable to those goals• Tuesday Mornings-8:30…Business Meeting – Sharing information, development, motivation, what’s going on in our market place• Tuesday Afternoon – 2 till 3 Development Session – Making the Most of Time Management and Organization• Next Wednesday the 18th…MN Housing Finance – 2 Hours of Continuing Education
Dates to Remember01/13/12 (Fri) Tour requests due by 8am for tour on 1/1701/16/12 PHH & Burnet Title closed (Martin Luther King day)01/17/12 PHH Birthday Cake, 1pm01/24/12 Sue Olmscheid – The Lillian’s Story01/25 – 2/4 Tracie out of the office01/27/12 PHH Bowling Night Out02/7-2/20 Michelle out of the office02/17/12 (Fri) Tour requests due by Noon for tour on 2/2102/20/12 PHH & Burnet Title closed (President’s Day)04/8/12 Office Closed – Easter05/28/12 Office Closed – Memorial Day06/14/12 Customer Appreciation Pork Chop Feed07/04/12 Office Closed – Independence Day10/30/12 Blood Drive (tentative)12/1/12 Trees For Toys12/11/12 Office holiday potluck/silent auction12/13/12 Office holiday party (evening)
Achieving the Best Months of Your Life…The difference between good production and great production is the level of yourintensity. How intense are you with your schedule, your activities, your preparation,your life? How do others view your focus? How do you stay on track?This year and next will determine the outcome of your next 10 years in this business.Challenge yourself to work hard each and every day, ask others to hold youaccountable…ask them how they view your focus.Start with a 90 day challenge…challenge yourself over the next 90 days to work harderand smarter than you ever have. The Best Place for The Best People