Monday, April 30, 2012

Life is a Series of Projects...


All of life is a series of projects. A project is a complex task. It is often called a multitask job. This type of job requires the coordination of efforts of several people, each of whom is responsible for a part of the job, with every part of the job being necessary for successful completion. Your ability to handle these multitask jobs is a critical skill for success. All achievements of consequence are complex, and they involve the cooperation of many people.
The Key Management Skill
A study by Stanford University of the qualities that companies look for in promoting people into the position of chief executive officer concluded that the ability to put together a team to accomplish a task was the single most important identifiable quality of an executive who was destined for the fast track in his/her career. Your ability to put together teams to do multitask jobs, ability to complete complex projects, and visible qualities of leadership will determine the course of your career as much as any other factor. It will enable you to multiply yourself times the talents and efforts of others, and accomplish vastly more than you could do on your own.
A Learnable Skill
Project management is a learnable skill, like riding a bicycle. It can be divided into a series of steps, each of which you can master, one at a time. In managing any project, you begin by defining the ideal desired result of the project. What exactly are you trying to accomplish? What will the project look like if it is a complete success?  Start by defining a successful completion of the project, the ideal desired result.
Start at the Beginning
Once you are clear about your desired result, you then start from the beginning. Determine what you are going to have to do to get from where you are to the completion of this project, on schedule and on budget. Determine a specific deadline or target to aim at. Make sure that it is realistic and achievable.
Assemble the Team
Bring together all the people whose contributions will be necessary for the success of this project. Sometimes you need to assemble a team before you can even decide upon the ideal result and the schedule. Remember that people are everything. Take ample time to think carefully about the people who are going to be the team members.
Share the Ownership
Instill ownership of the project in the team members by sharing the job with them. There is a direct relationship between how much a person feels a sense of ownership for the job and how committed he is to making the project a success. One of the key jobs of management and leadership is to instill this feeling of ownership in each member of the team, so that each person feels personally responsible for the accomplishment of the overall project. You accomplish this by discussing every detail of the project with the people who are expected to carry it out.
Develop a Shared Vision
A shared vision is an ideal future picture of success that everyone buys into. How do you develop a shared vision? You sit down and work with the team to answer the question, “What are we trying to accomplish?” You encourage everyone to contribute, visualize, and to imagine the ideal outcome or desired result of the project. Once this vision is clear and shared by everyone, you move on to the development of “shared plans” to achieve the vision.
Set Schedules and Deadlines
Once you have a shared vision and shared plans, and everyone knows exactly what is to be done and what the ideal results will look like, the next step is for you to set a deadline for project completion based on the consensus of your team.
Create a List
Create a to-do list and write down every task, function, and activity that must be completed, right down to the smallest job. Make it easier for yourself-get the project finished on time and break the project down into individual jobs and tasks as much as you can.
Organize the Project
Organize the different parts of the project in two ways: sequential tasks and parallel tasks. You organize by sequence when you determine which jobs must be done before other jobs can be done, with each task in order. Sequential organization is necessary where a particular task requires that another task be completed before it can be started. In almost every case, before you do anything, you have to do something else first. Organize the tasks sequentially with a logical process of activities from beginning through to the end of the project.
The second way to organize the tasks is through parallel activities. Parallel activities exist when more than one task can be done at the same time. Two or more people can be working on two or three different tasks independently of each other.

Thursday, April 26, 2012

Proper Planning for Your Mortgage Application


With good preparation, most things are easier. That works in mortgages too! Today, I want to give you some ideas that can make your mortgage experience less painful.

Income Items:

1.     Gather your documents. Today, many people will have to produce 2 years’ complete tax returns, including W2′s, 1099′s, K1′s, and all the schedules, as well as a month’s worth of pay stubs.
2.    Be prepared to explain them. Deductions in your returns and your pay stubs may impact the income your lender will use to qualify you which, in turn, has a big impact on the loan you will get.
3.    Have a breakdown of base pay versus overtime for both your pay stubs and 2 years’ W2′s. Lenders treat overtime (and bonus income) differently than your base pay. Be prepared to explain any changes over the last few years because your loan officer will ask you about it.

Asset Items:

1.    Start accumulating your bank statements. Lenders look back 3 months from when you sign your contract of sale.
2.    You will have to explain any and all large deposits (which are defined as deposits greater than your regular pay check) because lenders want to make sure you haven’t taken out any new loans that aren’t on your credit report.
3.    Avoid any significant cash deposits. However, if you did have a cash deposit, understand that the lender will have you source it (a bill of sale and DMV receipt for that motorcycle, for example).
4.    If you will be receiving a gift, consult your loan officer on how to document it (from the donor’s ability to how you deposit it).

Credit Items:

1.     Ask your loan officer to run your credit and go over it with them. Believe it or not, most credit reports contain errors. Best to identify them and get working on correcting them as early as possible.
2.    Do what you can to pay down your balances to under 30% of available credit to help you get the best score possible.
3.    Do NOT close accounts or pay off collection accounts without discussing it with your loan officer. Either one of these logical moves can actually have a negative impact on your score.
When buying a home, remember the Boy Scout motto, “Be prepared”. Following these suggestions will make your loan approval easier and less stressful.

For more information.. Contact The Atchley Group for a list of our preferred Mortgage Lenders. 

Wednesday, April 25, 2012

Everybody Calm Down - The Market Is Recovering


It didn’t take long for the naysayers in real estate to jump all over the National Association of RealtorsExisting Sales Report which was released last week. It is true that sales were down 2.6% from the previous month. However, monthly variations should not be the determining factor in deciding where the market is going. For example, in the same report, NAR explained that sales WERE UP 5.2% over last March’s numbers.
The experts should look at the key underlying data that truly determines where the market will be heading. Here is what leading economists in the housing industry are saying:

Paul Diggle, property economist, Capital Economics

“March’s decline in existing home sales probably reflects the normal month by month volatility rather than renewed underlying weakness. The increase in households’ confidence in the outlook for the housing market, coupled with a gradual improvement in the pace of the economic recovery, should drive a rise in home sales later this year….It is possible that the pattern within the quarter has been driven by the weather, with falls in the most recent two months reflecting a degree of payback after January’s gain.”

Doug Duncan, chief economist, Fannie Mae

“Conditions are coming together to encourage people to want to buy homes. Americans’ rental price expectations for the next year continue to rise, reaching their record high level for our survey this month. With an increasing share of consumers expecting higher mortgage rates and home prices over the next 12 months, some may feel that renting is becoming more costly and that homeownership is a more compelling housing choice.”

Celia Chen, senior director of housing economics, Moody’s

The residential property market is recovering, as the factors underlying demand and supply strengthen. Even after accounting for unusual seasonal patterns brought on by the unusually warm winter, conditions have not been this strong since the government ended homebuyer tax credits in 2010.”

Mark Vitner, senior economist, Wells Fargo

“Existing home sales dropped 2.6 percent, but are up 5.2 percent from a year ago. While existing sales are down for the second consecutive month, we are likely continuing to see payback from increases earlier this year. That said, we could see one more month of disappointing data, but we still contend the recent declines are not indicative of the trend. Stabilization will become more apparent once we return to normal weather.”

Mark Fleming, chief economist, CoreLogic

“Since the peak in home prices, mortgages rates have declined and affordability has risen dramatically. Housing affordability is at levels not seen since prior to the early 1990s …While real estate professionals often say that “now is a good time to buy,” it is clear today that April 2006 was probably not a good time to buy, while now may well be the time.”

Keeping Current Matters - April 23 

Tuesday, April 17, 2012

Spring Home Makeover Ideas to Inspire

As the signs of spring make their first appearances in nature, it’s time to wake up your home design, as well. From fashionable new window treatments to freshening up the home décor that you already have, we have tips to help you bring in Spring with style!


1. Brighten Your View: The Value of Updated Window Treatments
New, updated window treatments can make one of the most profound changes to the look and feel of a room. With spring in the air, you want to maximize the natural light that flows into your rooms. Choose something light and airy, like a soft drapery or a sheer window shading. There are many options to choose from, for a variety of sizes, from a single window to wide sliding glass doors.

Worried about privacy? Many sheer window treatments offer optional room-darkening vanes that you can adjust for a look and feel that is tailored to your unique needs.

Sunscreen window shades are also especially popular options that will prepare your home for the glare of the sun and the heat of the upcoming summer.

2. Get organized!
Did you know that extra clutter and crowding in your home décor can drain your energy? So, in the spirit of Spring’s renewal and rebirth, start organizing all the clutter that has accumulated throughout the winter. Overwhelming? Take it room by room, one week at a time. Slowly but surely, your cupboards, medicine cabinets, and even closets will bring feelings of peace and calm.

Your newfound organization will save you time (you won’t spend extra time searching for things!), and it will do wonders for lifting your mood, as well.

3. A Change Will Do You Good: Rearranging Furniture and Home Accessories
Okay, so you’ve purchased the latest in closet organization products and you’ve updated your home’s window treatments. Your next steps don’t have to require purchases at all. Look around you– most of your furniture has probably had the same position for years. Change it! Simply switching the placement of a couch, or repositioning the TV can make you feel like you have a whole new room.

Not much room for movement? Change and update the smaller things, like pillows, throws, and lamps.

4. Color Me Beautiful: The Power of Paint


You’ll find that I mention the power of fresh paint in almost every home decorating article. It’s really that important - and valuable. Adding a new color, brightening up the existing one, or changing the texture can give the room a completely new feel.

5. Think Outside the Home
After winter has left its cold, often dingy mark, the outside of your home needs some extra TLC. Be sure to wash the doors (especially your front door) and windows, and touch up the paint if necessary. Hang a wreath of silk spring flowers, or place pots of the real thing on your porch!

Don’t forget the garage, the driveway, tool sheds, and any other areas that may be less visible in winter, but when left to the bright lights of Spring, can sully the look of your fashion-forward home.

6. Cleaning
You can’t have a Spring Home Makeover without it – cleaning. But it doesn’t have to be something you dread. Start by making a “to-do” list for each room - everything needs sprucing up this time of year. Clean or replace shelf liners, and dust everything from the countertops to the dresser drawer handles. And don’t forget to clean your window treatments! Check the instructions first, but most window treatments need little more than a light feather dusting or a low level dust buster to freshen them up.

Once you have your “to-do” list, set the cleaning mood: play your favorite music, light some candles or spray some room spray, and enjoy the prospect of a fresh start for Spring!

3 Questions You Must Answer When Buying A Home

If you are thinking about purchasing a home right now, you are surely getting a lot of advice. And some of that advice is probably negative. Why buy now with prices still falling? Don’t you realize real estate is no longer a good investment? Don’t you know that people who bought six years ago lost their shirt? We understand the concern your friends and family have. However, let’s look at whether or not now is actually the perfect time to buy a home.

There are three questions you should ask before purchasing in today’s market:

1. What are the experts recommending?

In the last 120 days, many experts have said that buying now makes sense. This list includes: John Talbott, Christopher Thornberg and Warren Buffett.

2. When will I begin to see appreciation if I buy now?

This is a great question. Macro Markets, LLC is a company that studies housing prices. They started their Home Price Expectation Survey in 2010. They ask 100+ housing industry experts to project housing prices through 2016. The most current survey shows that the experts are predicting prices to remain relatively flat in 2012. The experts then project prices to rise reaching a cumulative appreciation of over 10% by 2016.

Purchasing a home today makes great sense from a financial standpoint. Think of the old axiom: you want to buy low and sell high. This decision should not only be a financial one however.

That leads us to our third and final question:

3. Why am I buying a home in the first place?

This truly is the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with finances. The Fannie Mae National Housing Survey shows that the four major reasons people buy a home have nothing to do with money:

§ A good place to raise children and for them to get a good education

§ A place where you and your family feel safe

§ More space for you and your family

§ Control of the space

What non-financial benefits will you and your family derive from owning a home? The answer to that question should be the reason you decide to purchase or not.

Bottom Line

Don’t allow money to get in the way of you making the right decision for you and your family. In the long run, the finances will work in your favor anyway.