| “It’s a great day to be in real estate! Duane Beisner here… sales manager and a sales representative for ERA real estate. |
Duane’s Quote of the Day
"To succeed you need to find something to hold on to, something to motivate you, something to inspire you."
-- Tony Dorsett, football player
Duane’s Joke of the Day
There was a painter by the name of Jock, who was very interested in making a penny where he could, so he often would thin his paint to make it go further. As it happened, he got away with this for some time, but eventually the Church decided to do a big restoration job that involved the painting of one of its biggest churches. Jock put in a bid, and because his price was so low, he got the job. He went about erecting the trestles and setting up the planks, and buying the paint and, yes, thinning it down with the turpentine. Jock was up on the scaffolding, painting away with the job nearly completed, when suddenly there was a horrendous clap of thunder, and the sky opened. The torrential rain washed the thinned paint off the church and knocked Jock off the scaffold and on to the lawn, among the gravestones, surrounded by telltale puddles of the thinned and useless paint. Jock was no fool. He knew this was a judgment from the Almighty, so he got on his knees and cried: "Oh, God! Forgive me! What should I do?" And from the thunder, a mighty voice spoke... Repaint! Repaint!
And thin no more!
Duane’s Business Tip of the Day
Instead of spending your money on worldly possessions, spend your money on helping people create happy experiences and lasting memories.
Think about it.
Duane’s Social Commentary
I went and saw Iron Man 2 over the weekend. If you have not seen it yet, you should. It is incredible but make sure that you stay until after the credits because there is a short video afterward. I have notice that a lot of movies are using this now. It is great way to get the audience to sit tight and watch the acknowledgements of all of the people in the credits who worked hard on the movie.
So with all of the messages coming at the average consumer on a daily basis, how do marketers get through? Good question; however, I saw an interesting article on ad expenditures for the first quarter of 2010.
U.S. ad spending saw some significant increases in the first quarter, with Q1 spending hikes “broadly distributed” across advertisers and categories, according to Kantar Media.
“That’s an encouraging signal for the market going forward,” says Jon Swallen, senior VP of research at Kantar.
Overall, ad expenditures rose 5.1% in Q1 of 2010 from a year ago, to $31.3 billion.
Of the 19 media types tracked by Kantar, 13 experienced a spending increase in the first quarter.
Spending by Media:
Overall, TV gained 10.5%:
—Spot TV surged 22% due to a torrent of additional money from the automotive, retail, financial services and political categories. Despite the growth, spot TV has still only recovered to a level last seen in 1997.
—Network TV jumped 11.6%, due to a boost from Winter Olympics.
—Cable TV was up 8.2%
—Spanish language TV was up 7.2%
—Syndication was down 13.2%
Radio was up 7.4% overall:
—National spot radio soared 19%, with help from increased spending in telecom, financial services and auto categories
—Local radio was up 4.6%
—Network radio was up 3%
Print media lagged the overall ad market. Magazines were down 3.2% and newspapers slipped 3.7%:
—Consumer magazine spending fell 3.9%
—B-to-b magazines dropped 8.4%
—Local newspapers slipped 5.6%
—Sunday magazine spending jumped 13.7%
—National newspapers managed to gain 9.1%, primarily from increases at the Wall Street Journal.
Internet, Outdoor
Internet (display ads only) gained 5%, while outdoor was essentially flat, down 0.4%.
Duane’s Real Estate News…
An article from the NY times… For Alex Pemberton and Susan Reboyras, foreclosure is becoming a way of life — something they did not want but are in no hurry to get out of.
Foreclosure has allowed them to stabilize the family business. Go to Outback occasionally for a steak. Take their gas-guzzling airboat out for the weekend. Visit the Hard Rock Casino.
“Instead of the house dragging us down, it’s become a life raft,” said Mr. Pemberton, who stopped paying the mortgage on their house here last summer. “It’s really been a blessing.”
A growing number of the people whose homes are in foreclosure are refusing to slink away in shame. They are fashioning a sort of homemade mortgage modification, one that brings their payments all the way down to zero. They use the money they save to get back on their feet or just get by.
This type of modification does not beg for a lender’s permission but is delivered as an ultimatum: Force me out if you can. Any moral qualms are overshadowed by a conviction that the banks created the crisis by snookering homeowners with loans that got them in over their heads.
“I tried to explain my situation to the lender, but they wouldn’t help,” said Mr. Pemberton’s mother, Wendy Pemberton, herself in foreclosure on a small house a few blocks away from her son’s. She stopped paying her mortgage two years ago after a bout with lung cancer. “They’re all crooks.” Wow!
Foreclosure procedures have been initiated against 1.7 million of the nation’s households. The pace of resolving these problem loans is slow and getting slower because of legal challenges, foreclosure moratoriums, government pressure to offer modifications and the inability of the lenders to cope with so many souring mortgages.
The average borrower in foreclosure has been delinquent for 438 days before actually being evicted, up from 251 days in January 2008, according to LPS Applied Analytics.
While there are no firm figures on how many households are following the new path of passive resistance, real estate agents and other experts say the number of overextended borrowers taking the “free rent” approach is on the rise.
There is no question, though, that for some borrowers in default, foreclosure is only a theoretical threat for a long time.
More than 650,000 households had not paid in 18 months, LPS calculated earlier this year. With 19 percent of those homes, the lender had not even begun to take action to repossess the property — double the rate of a year earlier.
In Florida, the average property spends 518 days in foreclosure, second only to New York’s 561 days. Defense attorneys stress they can keep this number high.
Many of those in foreclosure are hiring lawyers to help. Even if you have “no defenses,” the form letter from one attorney who sends it out to those owners in foreclosure says, “you may be able to keep living in your home for weeks, months or even years without paying your mortgage.”
One attorney signs up about 10 new clients a week sign up. He now has 350 clients in foreclosure, each of whom pays $1,500 a year for a maximum of six hours of attorney time. “I just do as much as needs to be done to force the bank to prove its case.”
So the mess continues…
This is Duane signing off. Happy Trails to you! As always, I am proud to be an American. You can email me at duane.beisner@era.com Or visit my website at www.rejedi.com
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