Wednesday, October 29, 2008

Hasta La Vista, Vista.

Microsoft announces Windows 7. See ya Vista, we hardly knew ya.

How Low Can You Go?

The Federal Reserve cut the federal funds rate, the interest banks charge on overnight loans, down to 1%. So what if that doesn't help? Can they cut it to zero?

Thursday, October 23, 2008

Sunday, October 19, 2008

What Happened To My Business?

Notary Loan Signing Bussiness
It used to be that 90% of my work was signing refinance loans. But things have changed. In the last two weeks I've done several purchases, a structured settlement, a couple of home inspections, some general notary work, a few refinance loans, in house closings for foreclosure properties, and for the last 10 days I've been working about 16 hours a day closing loans for a massive project converting 300 cooperative units into condominiums (which is why I haven't had a chance to post much). Here's my point: there's business out there. If you're still stuck in the old mode and the old way of doing things, you're probably not getting very far. You've got to be open to other opportunities and other places to market your signing services. You can't be passive and you can't expect business to come to you. If things are slow, use your down time to make calls, knock on doors, and find places to list your services. I'm not shy about asking for business. If someone I've worked for compliments me on the work I've done, I don't hesitate to ask for names of other colleagues they might have who might also want my services. I'm in about the worst area you can be in for refinances and of course my business has felt the effects of that, but I've managed to stay afloat by being aggressive and looking for other opportunities. The refinance boom may be over for now, but other prospects still exist. You just have to look for them.

Monday, October 13, 2008

Can This Get Any Wilder?

A week after the biggest one day Dow drop in history, the Dow records its biggest one day rise in history. Nitroglycerin tablet anyone?

Wednesday, October 8, 2008

Global Rate Cuts

In an unprecedented move, central banks around the world joined together to coordinated rate cuts in another attempt to stabilize the global economic market. The U.S., which dropped their federal funds target (the rate banks charge each other for overnight loans) by half a percentage point to 1.5%, was joined by the European Central bank as well as Britain, Canada, Sweden and Switzerland. But it seems that their may be little that can be done to appease Wall Street. The Dow has been on a roller coaster ride all day.

Monday, October 6, 2008

We're Number One Again!

No, I don't mean the Detroit Shock's WNBA championship. We're number one in unemployment. Yippee.

5 worst employment states:

1. Michigan
Unemployment rate: 7.6 percent
Population: 10,071,822
Mean annual wage: $41,230
Top industry: Trade, transportation and utilities (18.4 percent)***

2. Mississippi
Unemployment rate: 6.8 percent
Population: 2,918,785
Mean annual wage: $30,460
Top industry: Government (21.2 percent)

3. South Carolina
Unemployment rate: 6.6 percent
Population: 4,407,709
Mean annual wage: $33,400
Top industry: Trade, transportation and utilities (19.4 percent)

4. Alaska
Unemployment rate: 6.5 percent
Population: 683,478
Mean annual wage: $43,920
Top industry: Government (25.9 percent)

5. California
Unemployment rate: 6.1 percent
Population: 36,553,215
Mean annual wage: $44,180
Top industry: Trade, transportation and utilities (18.9 percent)

And the 5 best:

1. South Dakota
Unemployment rate: 3 percent*
Population: 796,214**
Mean annual wage: $30,460
Top industry: Trade, transportation and utilities (19.9 percent)***

2. Idaho
Unemployment rate: 3 percent
Population: 1,499,402
Mean annual wage: $34,810
Top industry: Trade, transportation and utilities (20.2 percent)

3. Wyoming
Unemployment rate: 3.1 percent
Population: 522,830
Mean annual wage: $34,290
Top industry: Government (23 percent)

4. Nebraska
Unemployment rate: 3.2 percent
Population: 1,774,571
Mean annual wage: $34,300
Top industry: Trade, transportation and utilities (21.1 percent)

5. Utah
Unemployment rate: 3.2 percent
Population: 2,645,330
Mean annual wage: $35,540
Top industry: Trade, transportation and utilities (19.7 percent)

Saturday, October 4, 2008

Bailout Offers Some Hope?

The market is not functioning properly
It's difficult to say what impact the $700 billion bailout package will have. While it's certainly a hard pill to swallow, most people agree that doing nothing would be catastrophic. But an expert panel of high ranking economists and Wall Street executives believe that the bailout plan will ultimately boost jobs, home sales and car loans. Welcome news, especially for those of us in Michigan.

Thursday, October 2, 2008

To The Many Borrowers That Have Recently Asked

Question mark house
Yes, this is an easy job.

Yes, I make my own hours. Title companies and borrowers are always happy to work around my schedule, not theirs. I actually choose to be sitting at your kitchen table at 8 p.m. on a Friday.

No, I didn't need to do any marketing to become successful. I just signed up with the National Notary Association and watched the signings roll in.

No, I don't need any computer skills. Documents are rarely sent by e-mail. Lenders always have their loan packages ready several days in advance and almost always overnight the packages in a timely fashion. Appointments never change and docs are never late.

Yes, a six year old computer and dot matrix printer will work just fine in a pinch. No, I don't think a Commodore 64 will work.

Sure, I'd be happy to tell you how to get started doing the same thing in my area. I'll even give you a list of my best clients.

Yes, this is a great time for someone new to get into the business. Never you mind about all those media reports regarding the economy, the housing market, bankruptcies, foreclosures, and the like. They're just being negative.

Any more questions?