10/26/2023 – What can you improve at?

We find ourselves almost a month into the year’s final quarter, and there’s an abundance of gloomy market talk circulating. I get it; I’m in the same boat. But remember, the seeds we plant today will blossom when the real estate market blooms in just a few months. Yes, it may sound like I’ve been sipping from the optimism punch bowl, but in my 33 years of navigating the mortgage maze, I’ve seen it all - the peaks, the valleys, and this one might be the granddaddy of challenging markets.

Nevertheless, I’ve got some points to share with you on how we can gear up our businesses for the spring ahead, which promises to be busier and brighter. So, chin up, and let’s dive in!

1. Expand Your Reach and Influence: Start by cultivating your sphere of influence. Plant the seeds of success in your neighborhood - host block parties, kickstart a neighborhood watch, or even launch a book club or a wild bunko group. The more parties, the merrier! Reconnect with old friends (maybe 50), and keep those holiday calls warm. Attend events, both old favorites and new ones. Heck, become the organizer of an event so you can catch up with friends you haven’t seen in eons. The world is your oyster - open it and find pearls of opportunity!
2. Up Your Follow-Up Game: Turn handshakes into happy clients with a robust follow-up system. Get organized, implement efficient processes, and keep that follow-up fire burning.
3. Spruce Up Your Website: Even the crème de la crème of agents need a dazzling online presence. Ensure your website radiates your greatness to the world.
4. Institute Efficient Systems: Streamline your workflow, dabble in the world of videos, and tackle objections like a pro.
5. Educate Yourself: Knowledge is power. Stay ahead of the curve by delving into real estate investment strategies, market insights, tax intricacies, Prop 19, 1031 exchanges, insurance know-how, and other nifty tidbits that’ll make you the guru of the game.
6. Become the Best You: Remember personal growth! Work on becoming the superstar version of yourself. After all, you’re your most significant asset.

I am willing to go over all of the above and more with you to help you create a business plan to build your business and my business. Next year will be a better year for all of us, but you need a good game plan to get there. Let’s get there together!

Condo / Townhome issues we know of now:

1. American Beauty Village – Insurance
2. Scenic Hills – Insurance
3. Mariposa – Litigation – Agreed upon, but not yet recorded
4. Bouquet Canyon Village – Insurance
5. Madison – Litigation
6. West Creek / West Hills – Insurance
7. Cornerstone – Insurance
8. Canyon Oaks – Insurance
9. Brookside Walk – Insurance – NEW as of last week

Please let me know if you hear something new on Condos or Townhouses. We will see premiums increasing, likely increasing the HOA Fees soon!

Interest rates went up yesterday and down today! It’s a see-saw battle, and higher rates are winning lately, but watch out because I think lower rates will take over in 2024, and you know what that means? HIGHER PRICES! LOL!

• 12-day escrows if your buyer is pre-approved - Conventional / FHA / Jumbo / Bridge
• We do loans in all states, so call me with anything you need.  
• Government Loans (FHA / VA) are in the high 6’s and low 7’s
• Conventional Loans up to $726,200.00 are in the high 7’s and low 8’s.
• High Balance Loans $726,201.00-$ 1,089,300.00 are in the 8’s
• Jumbo loans above $1,089,300 are in the 7’s and 8’s
• Bank statement loans - They are available with 10% down again! 8’s and 9’s depending on down and credit score.
• No income qualifier – 40% down with reserves! In the 7’s!
• 0 down loans are in the high 7’s – 660 credit score min right now, up to $740,000.00.
• Private Money lenders - hard Money Loans – 35% down!
• No Ratio Loans 30% down
• Debt Service Coverage loans with as little as 25% down
• Bridge Loans - are typically 8.49% with limited fees – But they get you where you need to go!
• 0 down California Dream for all Equity Share – Postponed until October???
• 3/2/1 Buydowns 2/1 Buydowns and 1/0 Buydowns are available at great start rates!

Interest rates are subject to change without notice! Above are LA County Loan Limits.

I am around all weekend if you have any questions or if someone is interested in buying a property! My cell is 661-714-6258, and my office line is 661-260-2970 ext. 2222. Please text me at 661-714-6258 or email me at Mike@AugustaFinancial.com. Have a great day and a better tomorrow! Please call me when you have a client that needs to borrow!