2-5-million-homes-gained-positive-equity-Q2

The number of mortgaged homes where homeowners owed more on their loan than the home was worth dropped by 2.5 million in the second quarter from the the first quarter, to 7.1 million, according to a second-quarter home equity report from CoreLogic. As of the second quarter, 14.5 percent of all residential properties with a loan were underwater — the homeowners owed more on it than it’s worth – down from 19.7 percent in the first quarter. Negative equity nationwide also dropped $148 billion from the first quarter to $428 billion. Of the 41.5 million properties that now have positive equity at the end of the second quarter, 10.3 million were “under-equitied” — had less than 20 percent equity. Some 1.7 million homes had less than 5 percent equity. “Price appreciation obviously had a positive impact on home equity over the first half of 2013, especially the second quarter,” said Anand Nallathambi, president and CEO of CoreLogic, in a statement. The states that had the highest percentage of homes with negative equity in the second quarter were: Nevada (36.4 percent), Florida (31.5 percent), Arizona (24.7 percent), Michigan (22.5 percent) and Georgia (20.7 percent). **Source: CoreLogic Thinking on Buying or Selling Real Estate in South Florida? Contact us, we are Your Best source with confidentiality and professionalism at your service!

How to rebuild loyalty ...in Business!

"If you aspire to be successful as an entrepreneur, manager, business owner, or any kind of leader, others must feel loyal to you. Although money is often seen as a prime motivator, ultimately the bonds that hold an enterprise together are psychological. Important data gathered by the indicate that loyalty is one of the top three things that make workers feel satisfied. Loyalty balances self-interest. It is the willingness to look out for "us" and not just "me." It's no secret that the bond of loyalty has frayed at a time of layoffs and the loss of pensions and benefits in the economy. A public image has been built of opposition between management and labor - there is nothing new here - where the advantage has shifted overwhelmingly to management. As long as profits continue to roll in, loyalty is ignored. The assumption is that workers are too desperate for a job to complain or protest. You have a choice to make in the face of this sad situation. Are you going to join the trend and forget loyalty or are you going to try and rebuild it? The question doesn't apply simply to managers. Companies develop an atmosphere and a culture. No one works in a vacuum, and your attitude affects the environment you work in, no matter where you fit into the overall scheme. If you choose to help rebuild loyalty, here are some suggestions: 1. Abstain from disloyalty, which shows up in small but telling ways. Office gossip, back-biting, and spreading rumors show disloyalty, because they degrade the sense of bonding and cooperation. 2. Work on bonding and cooperation. Be sympathetic and open to the people you work with. Support projects that are good for everyone, even if you don't gain immediate material rewards. 3. Honor the difference between rivals and competitors. The fact that you are competing against others at work doesn't make them your rivals. Rivalry is hostile; it implies that only one person can win. Competition raises the bar for everyone, so that the whole team can win. 4. Pay attention to personal details. Loyalty runs deep when a person feels cared for and understood. Be alert to these needs. Make an effort to include everyone. When ideas and suggestions are being discussed, make it clear that every suggestion is welcome. If someone's pet idea is rejected, take time to go to them afterwards and listen respectfully to what lies behind the idea. 5. Share your success. Include your team in the praise and appreciation that comes your way. If possible, make a tangible gesture, as appropriate - throw a party, or other form of celebration, offer bonuses, present a gift as a token of recognition. 6. Don't keep secrets. As much as possible, make the decision-making process transparent. Open up financial details. In the economic downturn of 2008, some small businesses shared their finances with their workers and thereby won real loyalty. Seeing that the company was strapped, the workers felt an incentive to be part of the solution. This is just one way to close the gap that makes management and workers adversaries, a stance that severely erodes loyalty. 7. Remind yourself every day that there is no "I" without "we." This allows you to be humble in your successes and provides a community to get through crises." **taken from Debak Chopra notes

Dream Big....start small!

"Your greatest fear is your biggest enemy. It keeps you small, blocks your progress and limits your achievement. Perhaps you picked it up along the way? Someone taught it you? The good news is, it’s not who you truly are. Here are some steps to put that beast out of its misery once and for all: Decide. Do something. Anything. Fear feeds on inaction Look for the truth. Look for the facts. Fear feeds on lies. What’s the worst that can happen? The biggest way to reduce risk is increase knowledge. Fear feeds on the unknown. ‘Get perfect later.’ Fear feeds on perfectionism. Don’t wait to run the marathon. Take the first step today. Fear feeds on waiting for the ‘right time’. “Fears are educated into us and can, if we wish, be educated out.” So “educate them out”. Beginning today. You’re smart. A go-getter. A person of excellence–and vision Inspire others by your bigness. Dream big but start small. Act now. Don’t stop. Change the world." - Rob Moore ** article from LinkedIn We are Here to help achieve your Real Estate Goal. Contact us for a confidential market analysis. Espie Franky

What Every 1st-Time Homebuyer Needs to know

"If you're a first-time home buyer, you're probably thrilled to take the plunge into the real estate market. After all, you've probably been envisioning this moment for many years. It's a time when you should be ecstatic for what's coming. However, there's a caveat. Buying a house is a massive decision, particularly if you've never embarked on the process before. There are certain things you must consider as a prospective buyer in order to have a successful purchasing journey. These ideas are listed below for your benefit. 1. Properly assess your credit standing Credit is one of the main issues you need to focus on before buying a one-way ticket to the real estate world. For one, it can really help you financially if you have solid credit. Secondly, if you have a less than ideal credit report, buying a property may be a decision to re-think or put aside for several months. Every situation is relative to the individual person directly involved, but the principle is the same: credit matters and it will continue to matter. You need credit to qualify for a loan. While the exact influence could vary greatly between a Native American applying for a HUD 184 home loan and a recent college graduate applying to take over a condominium, the numbers need to add up. If you have three credit cards and most of the allowance is used up on all three, you may not receive a very pretty score. Take this advice and run with it: Good credit standing often translates to lower interest rates for your mortgage agreement. This benefits you. Also, if your credit isn't ideal, think about considering a six month hiatus from the housing search to try and raise it. You can do this with consistent payments on whatever you've committed to within your life. 2. Gauge monthly cash flow Part of owning a home is being extremely stable financially. This doesn't mean having an abundance of extra money to throw around, but rather the concept of understanding how much money you do have and how you spend it. If you're considering buying a house, you want to specifically focus on your monthly cash flow. Some questions to ask: How much do you earn? How much are you able to put aside each month? How's your individual job security? What about your employer's stability within the market? Can you reasonably cut back on spending without compromising your way of life? Your monthly flow needs to be understood for the simple reason that you need to know exactly how a mortgage agreement will affect you financially. For instance, the commitment is more than simply paying the monthly portion of the loan. You will have homeowner obligations that you didn't have before. You will have property taxes, maintenance and many other situations to consider. Take this advice and run with it: You're going to be fine owning your own property, but it can really help to properly assess your monthly cash flow. There needs to be more coming in than going out. You're the only one that can truly understand where your balance is at and if there's ever a time to think about it, it's now. 3. Carefully consider the location Oftentimes, those people buying real estate for the first time underestimate the commitment that ensues after the closing date. While you can surely sell your house before it's paid off, it's a bigger commitment than it seems to be looking at what is often a loan of 25-30 years. Due to the inherent longevity of these agreements, it's imperative that you analyze not only the property you're deciding on but the location it's in. Some questions to ask: Do you really, really like the city or town? What school district zone does your property fall within? This could shape your child's or children's education Is it close enough to your job? What about your spouse's, if you have one? Is it near hobbies you enjoy? Take this advice and run with it: The location that your house sits within will make or break your general happiness with the situation. This seems obvious, but it still needs to be carefully analyzed with a long-term focus. Do you see yourself feeling the same about it in a few years? What about 20? These are thoughts to toss around your inner circle of family and friends before settling on a decision. Part of enjoying your first home buying experience is being prepared. Properly assessing your credit standing, gauging monthly cash flow and carefully considering the location of your proposed investment are strong starting points. From there, it's up to you." ** info from REALITY TIMES Magazine Thinking on Buying Your First Home in South Florida? Give me a call, I'm ready to parter up with you In search of the place to call your New Home! Espie