Upload
tjahles
View
133
Download
0
Embed Size (px)
Citation preview
Flash Back To 2003
What’s The Future Going To Look Like?
Realtors Mortgage Originators
Today Is 2003
The Future…….2011
• House Prices Will Be 10-50% Less Than 2003
• Fixed Rates Will Be Below 4.5%
• Mortgages Will Need 3.5% Down Payment
This Is What We Thought It Would Look Like!
House Prices
Supply and Demand
Lack Of Inventory Surplus Of Homes
Real World
The Real Estate Market Is Stagnant
20+ Years Of Experience
Market Rebounds From The Bottom Up
RentersWill Move First
Move-UpBuyersNext
What Can We Do?
Are You Going To Be aLifetime Renter?
The Conversation With The RenterNo,
I’m going to buy just not
right now
American Dream Is In Hibernation
5 Months Or 5 Years?
Uncertainty
Why Aren’t The Renters Buying?
Rent Or Buy?
Path2Buy….7½ Reasonsa. Job Insecurityb. Down Paymentc. Credit Scoresd. Debt To Income Ratios
Guidelines
e. Debt To Income Ratios Comfort Zone
f. Mis-Informationg. Mobility/Liquidityh. Waiting For The Bottom
Job Insecurity1
Down Payment and Reserves
• 3.5% Required FHA
• 0% Down VA
• Conventional 5%
Reserves
2
The 22-32 Year Old Renter
Reserves
Hard To Save
Direct Deposit
Debit Card
The Olden Days
Credit Scores
• Top Score – 850
• Mortgage Worthy 620
3
Debt To Income Ratios Guidelines
• Constantly Changing
• Exam All Your Debt
• Strategy For Elimination
Strategy
4
Debt To Income Ratios Comfort Zone
• What Can You Afford
• Power Home Buying
• Strategy To Net More $$
5
Mis-Information
Who is Your Trusted Source?
6
Mobility and Liquidity
• Job Relocation
• Relocate to Improve Career
• New Times Today
7
Waiting For The Bottom
10% = 1% Rule
7½
Why The ½?
Housing Prices Are Regional
Need To AlignTo Educate The Renter
Realtors Mortgage Originators
Path2BuyCoach Program
• Develop An Incubation System
• 45 Day Check-Ups
• Address All Of Your Concerns
• Develop Trust And Empathy– No Hidden Agenda
– Willing To Wait Till YOUR Ready
What The Path2Buy System Will Do
You Need A Plan
Path2Buy
Path2BuyCoach Program