
In order to be 'Aggressive' The seller has to be as committed as the Listing Realtor. How committed to breakfast is the chicken versus the Pig??? This is no market for chickens!!!
Aggressive marketing is pricing 5% ahead of the market and taking multiple offers!!! Keeping the price the same and expecting the Realtor to pay for more media only confirms with more people that the seller is the highest bidder on their own home!!
Feedback is crucial no matter how frank, this has to be passed to the seller asap. 'Let's wait and see' is not an aggressive marketing tactic. Virtual tours are virtual showings. If you home has not more than 10 showings or an offer in a 2 week period you market price is not aggressive enough.
It is better for a seller to have contract offers they can turn down or counter than no offers at all. Throwing money at a bad price is not aggressive!!

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This should be posted in all schools and work places |

Short-Sale Program Will Pay Homeowners to Sell at a Loss - NYTimes.com www.nytimes.com The Obama administration will offer homeowners $1,500 to sell for less than the mortgage balance.

For those of you who have experienced, first hand, the painful process of a short sale, you'll be happy to know, starting April 5th 2010, this process will be streamlined. How does that effect you?
If you're considering doing a short sale, you may want to review your qualifications. This new directive will provide incentive for banks and investors to work with you on the short sale. If you qualify for this streamlined program, you will be forgiven of the deficiency, guaranteed. The paperwork involved in the eligibility, the actually applications for the short sale, will no longer be completely and utterly, ridiculously exhausting. Borrowers will be eligible for a $1500 relocation incentive to cover moving costs for the seller. I guess they figure, if you're in short sale, you have no money. How can you move if you have no money? The property will be evaluated and given a pre-approval price prior to going on the market. THIS IS HUGE!
One of the main issues with short sales is the time it takes to get them approved by a bank. On average, a particular short sale, will go through three buyers before someone will wait around long enough to get the bank to agree to the short sale. Currently, it can take nine months for this approval. Imagine if you are the borrower and you have a particular interest rate you're locked into, a tax credit deadline you're trying to meet, and life plans you're trying to fulfill. You're ready to move into your new home and the bank is taking so long that your life is on hold for nine months! Imagine if you're a homeowner and this is being reported to the credit bureau. With a 30 day, 60 day, 90 day late; the longer, the more detrimental it is to your credit. What happens when you are 270 days late because you cannot get short sale approval - the bank is taking too long? That currently is a gray area. By the way, this law also outlines how the short sale is to be reported on your credit. This new process will give approval up-front so there will be no waiting time. What a win-win this will be for sellers, buyers, and neighbors alike. Moving this inventory much quicker will help to stabilize prices.
There are so many details, I cannot possibly put them all in an email form. Contact Me today 770-949-9494 770-949-9494 or visit https://www.hmpadmin.com/portal/docs/hamp_servicer/sd0909.pdf for more information."
Market Comment - Week of March 1st, 2010
Mortgage bond prices rebounded last week pushing mortgage interest rates lower. The majority of the data came in bond friendly. Weaker than expected consumer confidence data Tuesday helped mortgage interest rates improve. The Treasury auctions showed decent foreign demand. The gross domestic product price deflator component showed a smaller price increase than expected while the consumer spending component also came in weaker than expected. Existing home sales fell a surprising 7.1%, considerably weaker than the expected 1% increase. Rates fell about 3/4 of a discount point for the week.
The employment report Friday morning will take center stage this week. Until then, look for the PCE inflation data to set the tone for the beginning of the week and the ADP employment report to set the tone for the mid portion of the week.
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Economic Factors |
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Economic Indicator |
Release Date Time |
Consensus Estimate |
Analysis |
|
Personal Income and Outlays |
Monday, March 1, 2010 |
Income up 0.4%, Outlays up 0.4% |
Important. A measure of consumers' ability to spend. Weakness may lead to lower mortgage rates. |
|
PCE Price Index |
Monday, March 1, 2010 |
Up 0.1% |
Important. An indication of inflationary pressures. Decreases may lead to lower rates. |
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Construction Spending |
Monday, March 1, 2010 |
Down 0.6% |
Low importance. An indication of economic strength. A significant decrease may lead to lower rates. |
|
ISM Index |
Monday, March 1, 2010 |
58.0 |
Important. A measure of manufacturer sentiment. A large decline may lead to lower mortgage rates. |
|
ADP Employment |
Wednesday, March 3, 2010 |
-15k |
Important. An indication of employment. Weakness may bring lower rates. |
|
Fed "Beige Book" |
Wednesday, March 3, 2010 |
None |
Important. This Fed report details current economic conditions across the US. Signs of weakness may lead to lower rates. |
|
Revised Q4 Productivity |
Thursday, March 4, 2010 |
Up 6.2% |
Important. A measure of output per hour. Improvement may lead to lower mortgage rates. |
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Employment |
Friday, March 5, 2010 |
Unemp. @ 9.8%, Payrolls -25k |
Very important. An increase in unemployment or a large decrease in payrolls may bring lower rates. |
Fundamental Week
The abundance of fundamental data this week provides a good opportunity for mortgages to improve. If the data shows weakness in the economy with little or no inflationary pressures then it is possible for mortgage bonds to rally resulting in mortgage interest rate decreases. However, if the data shows that the economy is rebounding or any significant signs of inflation, mortgage bonds may fall pushing mortgage interest rates higher.
Mortgage interest rates remain favorable. Now is a great time to avoid the uncertainty surrounding continued market volatility.
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