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From The Desk of Chris Mygatt - March 2008

Realtor.com Branded Profile Page... Now's the Time to Take Ownership!!

Are there any members of the media who actually have a grasp of the current real estate market? There is at least one. Dan Kadlec's "Right on Your Money" column in the February 25th issue of Time Magazine presented a solid case for investing in stocks and buying a home now rather than waiting for an economic revival. Kadlec uses reason and logic to analyze the buying and selling of real estate. Which is exactly what many of you who attended the Schweppe "Power" classes learned.

In Kadlec's article, titled "Ignore the Headlines!", he advises the reader to tune out all the negative talk and news on recession, housing, subprime woes, the credit crunch, and more. The negative press makes people "sit on their thumbs and wait before making any big moves." But what, he asks, are people waiting for?

Those who stick to a steady, diversified plan while everyone else is retreating will most likely be happy years from now, according to the Time columnist. Kadlec writes that those who are ready to become a homeowner, have good credit, and will stay in the home for five years should act now before an inevitable rise in interest rates wipes out their advantage. He presented the following homebuying scenario:

Consider a typical home that sells for $218,900. You put down 20% and get a 30-year fixed-rate mortgage at today's rate of 5.5%. Monthly principal and interest come to $994.31. Let's say that 12 months from now the same house goes for 10% less, or $197,010. But by then the recession is history and the Fed is jacking up rates to stem inflation. If mortgage costs rise just half a point, to 6%, your monthly payment would be $994.94 and you'd have saved nothing. Meanwhile, home prices might steady and sellers might become less willing to negotiate. And you have spent a year living someplace you'd rather not be.

We all know the "typical" home in metro Denver is priced higher than this example, but you get the point. Kadlec notes that "Risks always seem most acute when the headlines give you ulcers. But that's exactly when you should think long term and get off your thumbs."

You can use this message when prospecting for new business. Everyone needs to understand that it's a great time to buy a home. People should not let all the media negativity stop them from making an astute decision.

February 2008 Real Estate Stats

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Top Teams and Individuals February 2008

Ignore the Negative Headlines and Keep a Positive Attitude

Psychology is a key ingredient to success in any business, especially real estate. A positive attitude may sometimes be difficult to have when the media is filled daily with negative reports about the real estate market locally and nationally. For whatever reason, these "Doom's Day" reporters can more...->

2008 Colorado Real Estate Legislation You should Know About

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Winter Park Update

Many of you enjoyed a great day with us on our annual Coldwell Banker Ski Train to Winter Park and the Boulder Office chartered their own bus. My thanks to our colleagues at Playground and The Village at Winter Park. They hosted a great BBQ lunch, private tours of their fashionable models and a fun more...->

Mark your calendars for the first week in April

We'll be in your offices attending sales meetings as apart of our quarterly office tour. The topics of the meeting will include a local and national market update as well as a preview of the latest in marketing, online websites, training and new programs you won't want to miss. The big news is the more...->

Announcing NEW Awards Criteria and Designation Definitions

I just recently announced a clarification and update of our 2008 Award levels for Individuals, Partners and Teams. Be sure to get all the details from your manager or "CLICK HERE":http://www.cbagentinfo.com/main/downloads/Awards/file1205263198_704726/file1/AwardCriteria2008infosheet.pdf. Remember, more...->

Positive Angles

What are real estate professionals saying to homebuyers and sellers about current market conditions? The successful brokers and sales associates are talking about the strengths that exist in the market - not the negative media hype. Below are positive angles that appeared recently in the media and more...->

Thank You!

Once again, thanks for your support of Habitat for Humanity and the Up with People show. And, Stay tuned for more information on our annual Doug Brentlinger memorial golf tournament June 5th at Highlands Ranch Country Club as well as our 271 mile Ride across the Range in September. Thanks... e more...->

My Best,

Chris Mygatt

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