Always Be Closing
Selling Quote of the Day: “Art is making something out of nothing and selling it.” – Frank Zappa
Speaking of art, read about an artist who is just as obsessed as me when it comes to Twinkies. Check out her “The Last Snack” – it is pure genius.
It’s a light week on economic data that can swat interest rates. Tomorrow we have Weekly Jobless Claims and Leading Economic Indicators (which is an indication of future economic activity). If numbers come in good the rates will go up, but if they come in low expect a drop. Can they even go lower from where they are now?
Well, the banks are holding out. A recent WSJ article pointed out the fact that 30-year fixed rates should be at 2.625%. What does that tell you about the banks and my pants? We’re both getting fat this winter. So if rates aren’t at 2.625% on a 30-year fixed then where the heck are they, Mortgage Fans…?
Still beautiful – 30-year fixed around 3.375% with ARM rates about a point lower. Don’t forget to let everyone you know–for any purchase or refinance loan over $240k I will waive all lending fees, which is a $1,295 savings!
Appraised values have been brutal the last few years because appraisers have to use short sales and foreclosures for comps. This is by far my biggest pet peeve in the industry today, as the entire appraisal system needs to be revamped. Maybe the best move is to buy a strange-looking home with no available comps…
Selling Quote of the Day 2: “Some guy named Rand McNally printed out a bunch of Google Maps and sells them at gas stations. Weird.” – Damien Katz (@damienkatz)
Two big birthdays this week! One for a guy who gave a speech about having a dream. The other is a guy who gave a speech in his college Persuasive Speaking class about legalizing prostitution. It’s no wonder that only one of them became famous, but I’m still giving a shout out to my brother Billy, who turns 48 years young on Friday.
Timeout for Trivia: Congrats to those who correctly guessed Pat Benatar last week. Want to be entered into a drawing to win an About Last Night poster? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “A week ago I turned…older. Hey, when you’ve lived as long as I have some great things happen. I hold the record for the longest span between Emmy nominations (first in 1951, and most recently in 2011). In the 1970s I made appearances on a lot of game shows (I even married the host of one). From 1985-1992 I starred on a show that the writer of this blog can’t believe made it past one year because he doesn’t think it was funny. Screw him! Facebook loves me, SNL loves me, TV Land loves me…”