Gene Mundt

Because of the shorter warm weather season here in the midwest, seeing celebrity outdoor sports professionals is sometimes at a premium. This is particularly so in the world of golf. That is why, when the opportunity does arise, we need to take advantage of it.

On September 7th - 13th, 2009, Cog Hill Golf and Country Club located in Lemont, Illinois, is going to be the host to the BMW Golf Championship. It is the ever-important 3rd leg of the 4-part play-off tournament for the FedEx Cup on the professional PGA Tour.

Seventy of the best golfers on the PGA tour are going to be in attendance for our viewing pleasure. If you've never been to a major golfing event, this event is one of the best. Competition is always tight and the outcome always exciting.

Even if you're not a huge golf fan, this event can be something to behold. The layout, architecture, and landscaping of the course is spectacular and the crowd is always amiable and fun. Bring your walking shoes and come prepared to take advantage of some great September weather while walking the beautiful course.

The tickets to the practice rounds are a bargain at $10 per person. It's hard to see top-notch sporting professionals any more cheaply and this close-up. These rounds can be particularly fun, as at times you can hear the banter between the golfers and the crowd. The comraderie and the good-nature ribbing going on between the participants also makes you feel as though you're getting a much more personal insight into the personalities of these men.

For business persons this can serve as a great outing for referral partners and customers. It's a great way to say "thank you" for the business you have generously received. I've found that those that have attended with me in the past really enjoyed the day's activities and sights and our personal relationships have been greatly strengthened through such events.

Take advantage of this midwest treat by going to the BMW Championship website at: www.bmwchampionshipusa.com for further information. Hope you get a chance to attend!

Today I have decided to do some hardcore research and fact-finding. I'm hoping those involved directly in the home staging facet of the real estate industry respond in large numbers to my quest for information and knowledge regarding their services.

For a while now, my wife has spoken about my need to "think outside the box" in regards to my services and marketing. She's directly involved in my work as she does my marketing and thankfully ... has always served as my number one promoter. She pushes me to think beyond the marketing I am already seeing done. She also inspires me to try marketing efforts that are new and go beyond the norm for my business and company. Together, we also "tweak" good ideas and personalize them for myself and referral partners to use to our, and customers, advantage.

But, right now we're focusing on what we both are finding is a quickly growing service in our area ... that of Home Staging. With so many homes currently on the market, home owners and realtors are trying to find ways to make their listings stand-out from the crowd. Staging can definitely fill that need and serve as an useful tool, reaping big dividends for sellers, realtors, and lenders alike.

The advent of cable TV shows showcasing the talented and creative individuals of home staging has securely embedded their services in the minds of viewers. Realtors relate to me, that expectations for a home's design and layout has definitely risen as a result of these informative shows. Buyers simply demand that a home's visual appeal and physical condition be at a higher standard than before.

I am always searching for ways to enhance my services to my referral partners. Just like the houses on the market, I too need to find ways to make myself and the services I offer distinguishable and of greater value than those provided from others in my industry. My success depends on it. Obviously nothing replaces hard work, outstanding service, and results. Bringing extra value to my partners is key though. Earning their respect and future business is my goal.

With that said, I wish to pose some questions to home stagers themselves. I'm really searching for feedback and input regarding the following:

• Would you align youself and offer your services through a lender?
• Would you consider a contract for services through that lender?
• Is a flat-rate or reduced-rate possible in exchange for "preferred" partner standing?
• Would you co-op in some manner with a lender ... and possibly the realtor/referral partner involved in a transaction?
• Have you aligned yourself with a lender in the past? And, if so, what was the arrangement?
• Have you had success at this type of co-op partnership? Feedback, please ...
• Provide any thoughts, feedback, suggestions, or valuable input you may have?

I truly believe that an alignment of services between myself and a professional home stager would serve my realtors/referral partners, clients (both future and past) extremely well and also benefit their business, as well as mine. The input I receive from those within the home staging profession will prove invaluable to me and is greatly anticipated. If realtors or others within branches of the real estate industry have tried such an association, your input would also be welcomed.

Thank you in advance for your feedback, time, and consideration of my request!

Gene Mundt, Professional Mortgage Banker www.genemundt.com Chicago Bancorp

With the onset of better weather, there seems to be a renewed buying interest. Other incentives, such as more affordable housing prices (especially for first-time buyers), economic stimulus measures (the Fed's income tax credit that can be up to $8,000 for qualified buyers), interest rates hovering in the 5% to 5.5% range, and seller's, banks, and lenders willingness (and neediness) to get homes sold, have also contributed to this upswing in recent activity. The last area mentioned here ... sellers of all types ... is where I wish to focus your attention.

During conversations with both realtors and prospective home buyers I have heard the lament, "Banks, FHA, Fannie/Freddie, HUD, and sellers will not pay any closing costs ... the buyer has to pay them". I say "NONSENSE"! These are different times! Forget the rules of the past! It's a brand new ball game!

Put your deal together and ask for seller-paid closing costs ... regardless of who the seller is. Yes, even if the seller is a bank or lender. Banks and lenders can pay closings costs on foreclosed properties and do if they are smart and if they truly want to get a deal through. But, they will not offer to pay these costs or never pay them if they are not asked to!

Do not be shy about it. Do not hesitate to do it. Ask! I can assure you from experience ... it can happen. These concessions just may be the answer to getting a sale done. And, with more and more properties to move, sellers will be searching for ways to make their sale more attractive to prospective home buyers.

So look on it as a sellers personal little "stimulus package" offered to potential buyers. With all the other great incentives available now, you can increase the likelihood of growing your home sales.

Gene Mundt www.genemundt.com Chicago Bancorp

There is only one word I can use to describe the reactions I sometimes receive regarding the topic of Reverse Mortgages. It is resistance.

I would also say that at times, people don't even know or completely understand why they are resisting. All sorts of internal alarms seem to be set-off regarding this topic and I meet a roadblock. Perhaps because of the age group utilizing these mortgages, special precautionary defenses get called into play emotionally. Everyone has heard a horror story of a predatory vulture stalking an unsuspecting senior. And unfortunately, too many times it has been true.

But we must guard against painting the entire Reverse Mortgage program dark. Because of the very fears mentioned above, extra measures have been taken within many of these lending programs to offer protections to seniors weighing their benefits. FHA Reverse Mortgages in particular contain many safeguards that address the concerns of seniors, their families, or counsel. They are the only kind of Reverse Mortgage that I personally offer for that very reason.

In a previous blog, I acknowledged that Reverse Mortgages are not an answer for all seniors. Pros and cons must be weighed against the personal scenario and needs of each individual senior considering this financing. Also needing to be considered is the present economy and whether waiting for a possible future economic rebound would be beneficial. The extent of the present and future need of each senior must be determined and reacted upon wisely. Each case must move ahead or falter upon its own merit. But how do we get the message out to seniors and their loved ones that this form of lending should not be rejected prematurely before determining if any merits exist?

I have been trying to find outlets for informational sessions regarding this lending within a variety of places. Places of worship, community organizations, governmental services, bookstores, and seniors homes themselves have been a focus. I search for outlets that will provide a comfortable, safe forum that are also seen as being unlikely to profit from the venture. Groups and their leaders must be open-minded and courageous enough to host these opportunities for informational exchange with seniors, unfettered from pre-determined opinion.

Please encourage organizations you know to host an informative session regarding Reverse Mortgages. These sessions could hold the key to determining the quality of life for many seniors and their families.

Gene Mundt, www.genemundt.com

Especially in today's present economic environment, it's crucial that a lender has the information and tools on hand to educate and enlighten the public regarding credit, debt management, lending and mortgage planning. Technology and the internet provide important support to this endeavor, with personal websites being almost a "must-have" for the communications now required and demanded by consumers.

Having been in the mortgage industry pre-technology, and now enjoying the benefits that those modern technologies offer, I can say that the speed, efficiency and convenience with which I can provide service to my customers versus the past has vastly improved. You can work almost anywhere anymore. Responses to inquiries are virtually instantaneous and information contained more in-depth and detailed. For the most part this is an advantage, but it also can cause more questions to arise during the processing of an application.

That is where the good, old-fashioned forms of communication come into play. Telephoning can help, but for me nothing totally replaces the benefits of a one-on-one, face-to-face meeting. Both parties, client and lender, gain a better sense of one another during these meetings. The nuances of such a meeting can offer great insight into the personality and character of each. Trust is deepened and relationships become more solid. With first-time home buyers this is crucial. Never having been through the process before, they need a lender that will offer patience, special care, and more time spent with them and on their behalf.

Although it is very possible to conduct business without this personal touch, I miss it greatly when it does not occur. I always feel an important element is somehow missing. Great efforts are made to promote and host these events, whether it be in the traditional office setting, a client's home, realtor or attorney's office, or workplace. For me, it is worth any extra effort it takes.

I never wish to go back to doing business without all the bells and whistles of today's modern offices. I'm too spoiled for that and I gain way too much from their existence. But, neither do I wish to completely abandon the benefits derived from personal meetings. It is these personal elements that are the most fulfilling and rewarding aspects of my profession. Lenders that do not retain them within their profession miss out on alot.

Gene Mundt, www.genemundt.com