Ricardo Bueno's Blog

In a recent blog post titled "Who Are These People?", Seth Godin writes:

"Many bloggers seem to be on a perpetual hunt for the front page of Digg. Sure, it brings you hordes of eyeballs, but then they turn around and leave. What's the point of that, really?

I think that are plenty of tips you can follow to optimize your offering for this fickle mass group. But it's still a crap shoot. Doesn't it make more sense to incrementally earn the attention of a smaller, less glitzy but far more valuable group of people who actually engage with you? And the best part is, your odds of success are a lot better." -- Seth Godin

Marketing to the masses is one way to get exposure out there but Seth raises a very valid point: what's the point if all of these people are going to click onto your site, turn around and leave? What have you accomplished?

Needless to say that though marketing to the masses to an extent creates brand awareness, what you really want to do to get business NOW is focus on marketing to the smaller masses that are going to engage with the service offering you can provide them TODAY!

If you're a Real Estate Agent, writing a Local Niche Blog is probably the best incentive you can offer to members of the local community that you ultimately want to engage in.

Any thoughts?

For those of you that are new to the Active Rain network, visit Localism for some excellent examples on local niche blogging.  

ricardo@ricardobueno.com

Follow me on Twitter: IndustryMinute | Follow me on FaceBook | Visit my blog: www.industry-report.com

Here are two articles that you may reference for questions on:

Mortgage Insurance & Tax Deductibility

Main Points:  

• Tax Deductibility applies to mortgages closed in 2007
• The annual household income cannot exceed $100,000
• This is temporary. The current legislation must be extended to remain in effect for 2008 and beyond
• You must itemize deductions in order to qualify

Canceling Mortgage Insurance

As a borrower, you can opt to incur a higher mortgage interest rate in lieu of paying mortgage insurance; typically between .4 - .675% higher than the qualifying interest rate. 

Mortgage Planner

World Wide Credit Corp

(323) 810-2175 | ricardo@ricardobueno.com 

www.twitter.com/industryminute

..."If you think working with a professional is expensive, wait till you see how much an amateur will cost you!" -- Brian B.

So I'll ask you,

Have you heard from your Loan Officer since your last refinance or purchase?

Does your Mortgage Plan or lack thereof have you saying, I

Woulda, Coulda, Shoulda...

I shoulda put gas in the car last night. Now it's early, there's traffic, and I'm gonna be late to work. Uuggghh!!!

I shoulda bought milk and creamer from the grocery store, now I'm drinking my coffee black! Eew.. blagh...

 

If you've been reading the Daily Mortgage Updates over on The Industry Report, you know that rates dipped to a low of 4.875 - 5% on a conforming 30-year fixed rate mortgage early Wednesday morning!

But the low was short-lived! It was a literally a (4) four to (5) five hour window of opportunity. Some ready-to-go homeowners benefited from the opportunity and many others were left thinking:

        Gosh dang it! I shoulda refinanced!

The week's close left us staring at 5.5% on a conforming 30-year fixed rate mortgage while Jumbo mortgage rates soared to 6.75% on a 30-year fixed rate (loan amounts from $417,000 to $650,000).

Talk about a deterioration in rates!

Now if you're one of the few who benefited from our Bond Market rally and Wednesday's interest rate lows, that's great news for you!

If on the other hand you're part of the majority thinking, "shoulda, coulda, woulda"...all is not lost. Here's what I recommend that you do:

• If you haven't heard from your Loan Officer since the last time you refinanced or purchased your home, contact me today for a FREE Mortgage Review. There's no reason for you to go it alone!
• If you've thought of refinancing but haven't taken the time to get pre-approved, let's put the pen-to-paper and GET you approved! It could save you hundreds which translates into thousands over the life of your mortgage.

Mortgage Planner

World Wide Credit Corp

(323) 810-2175

ricardo (at) ricardobueno (dot) com

Related Articles:

Calabasas Move Up Buyers, What Are You Waiting For?

The short answer is:

A contract guaranteeing the current mortgage market rate in the event Stocks rally like they did yesterday. 

For an expanded definition, READ HERE 

Mortgage rates are low!

Now typically, I'm not one to sell the whole:

"Now is the perfect time!" 

"Rates are at historical lows!" 

But...

Ladies and gentlemen of the jury, these are the facts, READ: Mortgage Rate Update: January 22, 2008 + Emergency Fed Funds Rate Cut

Just when we thought it was going to be a slow week on the Economic Calendar, we get this breaking news... Emergency Fed Funds Rate Cut: 75 Basis Points (a.k.a. .75% down to 3.50%

From MarketWatch:

"The 75 basis-point surprise cut came after global financial markets sold off in dramatic fashion on Monday on fears that bad bets in credit markets could spread further and drive the U.S. economy into recession. 

 

It was the largest cut in the federal funds rate since 1982, after the FOMC had driven rates to 20% to kill inflation.

 

U.S. stocks opened with huge losses. The Dow Jones Industrial Average was down more than 450 points, or more than 3%. Treasurys rallied.

 

'This move is not an instant fix,' wrote Ian Shepherdson, chief U.S. economist for High Frequency Economics. 'The economy is still staring recession in the face, but at least the Fed now gets it.'

ricardo@ricardobueno.com