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Matthew Dollinger

Doors

30 for pantry left hand
36 right hand for deck
34 right hand for basement

Matthew Dollinger
V.P. of Strategic Development
@properties cell: 773.354.9681
mattdollinger@atproperties.com
www.theyoufactor.com

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NEWS - U.S. Downgrade: How Will It Impact Housing?

All –

 

So this is a question that is going to be asked by many of you, and even many more of your clients.  “With the Downgrade of the U.S. by S&P from AAA to AA+… how will that affect the Housing Market?”

 

The truth is that we do not know.  Much like the client that asks you, “when are prices going to go up?” we do not have a crystal ball into the future (or a flux capacitor to go and find out).

 

However, it is our JOB as real estate advisors to inform our clients as to the best of our abilities.  That is why I am providing you with a list of links to some articles that you can use (and quote) to explain what the expert economists in our country are seeing.

 

Feel free to use these, but also question them…  I would recommend reading the following information:

 

1)       Understand how all of this is tied together with regards to Bonds, Credit Ratings and Mortgages

 

KCM Blog - Mortgage Rates: Impact of the Credit Rating Downgrade

 

 

2)      Insight:  Here are a number of articles that include speculation on what “might” happen moving forwards

 

Zillow Blog - Impact of Downgrade of Fannie/Freddie Debt on the Housing Market

DSNews.com - U.S. Downgrade: How Will It Impact Housing Fundamentals? 

LA Times - S&P lowers Fannie, Freddie citing reliance on U.S. government

World Property Channel - Experts Debate Impact of U.S. Credit Rating Downgrade on Housing Recovery

MRIS Blog - http://mrisblog.com/2011/08/what-will-the-sp-downgrade-do-to-the-us-housing-market/

 

 

After reading all of this many of you will say, “so… no one really knows huh?”  And that is truly the best answer that we know.  I have spoken to agents over the past few days who saw an immediate uptick in business after the passing of the debt-ceiling bill last week.  I agree with the gentleman from Zillow who states:

 

“The real near-term impact of the downgrade on the housing market won’t happen via mortgage rates but rather through reduced consumer confidence. Consumer confidence is being buffeted right now with negative signals, from reports early last week of declining consumer spending in June to more tepid job growth numbers reported on Friday. In periods of economic turmoil, many consumers tend to hunker down, making it less likely they will engage in high-priced transactions like home purchases.”  - Zillow Blog

 

But even though the consumer confidence may be shaky right now, this is an opportunity for YOU to solidify your relationship with them as rock-solid.  You are the one that your clients and contacts will turn to.  You are the one they will ask the hard questions.  Even if you do not have an ultimate answer (which no one does at this time) by discussing what others are analyzing and what the future consequences may be, you are an ADVISOR to their best interests.

 

All the best and keep up the good work – we are all very proud of you.

 

Matt

 

Matthew Dollinger

V.P. of Strategic Development

@properties

212 East Ohio

Chicago, IL 60611

O: 312.506.0236

C:  773.354.9681

 

Find me online:  Facebook – Twitter – LinkedIn - Blog - Web

 

Notes from Author Presentation - Larry Kramer - C-Scape

Today I had the opportunity to her author Larry Kramer @lkramer speak on this book "C-Scape - Conquer the Forces Changing Business Today " available on Amazon here http://www.amazon.com/C-Scape-Conquer-Forces-Changing-Business/dp/0061984973 .

MC'd by Christie Hefner of Playboy fame, this event discussed some of the major challenges that newspapers, journalism companies, and companies in general are facing with their attempts to become "media companies". Unfortunately not being a member of the Union League (I was a guest) I wasn't called on for questions, but took the following notes. Having read Larry's book before the event I would highly recommend taking a gander and using it to cement the thought process of many versed in the world of social media and companies facing this challenge today.

Notes from Event:

Mixed media content. The challenge of newspapers is to stop looking at things like papers and embrace full blown mixed media content.

Platform specific. I feel that one of the things that many need to undersand is that platform specific is limiting and not necessarily conducive to marketing.

People as creative resources. Communication, information and content.

Journalism schools 2.0. User generated content. The fact that 1) the media companies need to embrace and train the users to create this effectively and 2) the usurers need feel that these media platforms are cool enough for them to share their info on.

Journalism has moved from a broadcast (1 to 1) mentAlity to a conversation (1 to many)

Question : with the race to put things out quickly how do we maintain a level of quality for content produced (ie real estate market data)

Social media : monitoring of the user experience is key (although he refers to all of the monitoring folks as "kids"

SM question: so where all of the companies are trying to move into this social media realm how many do you think are actually putting together a consistent plan with a well thought out process and "crisis management plan"

Choosing a marketing Agency or ad agency:

Best point on social media is that Larry says that it's all about listening.

Larry : play to your audience. The reason that Facebook succeeded was that it was launched to the right audience (college kids) achieve their goal. Because they understood their audience they delivered to the right audience.

Question on race for pace vs accuracy: no real good answer other than the user has to develop some way of understanding what is truth and false.

Matthew Dollinger
@properties
V.P. of Strategic Development
312.506.0236
MattDollinger@atproperties.com
www.atproperties.com

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Must Read Industry Updates for Real Estate Professionals

 

1.      The Robo-Signing Scandal – if you haven’t been paying attention, the Robo-Signing Scandal that rocked the newswaves and banking industry a couple of weeks ago is a BIG deal.  Take a look at this article from PBS and bring yourself up to speed. 

2.      Foreclosure Filings Down 1% in Q3 from 2009 – even amongst the (above) Robo-Signing scandal some positive news that foreclosure filings might actually be slowing down in major metro US cities.  This USA Today article also includes a great interactive chart of the US major cities and where they are with foreclosure filings.

3.      September Existing Home Sales Show Another Strong Gain – this article compiled by NAR shows that existing home sales have risen for yet another month nation wide.  Where NAR is quick to state that this is “affirming a turn around” we would caution being TOO optimistic when presenting this data.

4.     Will Your House be Worth More in the Spring? – my favorite blogger and real estate economist Steve Harney tackles this question with references from Case Shiller and other national resources.  Long story short – price it aggressively and sell in the next 60 days while the banks are straightening out the Robo-Scandal fiasco.

5.      MacroMarkets - Uncertainty Persists in U.S. Home Price Outlook – This survey and report compiled by MacroMarkets sheds some insight on the outlook of home pricing and when we might see them return to existing levels.  Excellent for any listing presentation. 

 

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Recent TIME Article on Home Ownership

If you read magazines you might have stumbled across the recent issue of TIME magazine and their headline, “Rethinking Home Ownership”.  If you have not read this yet you can click here (http://www.time.com/time/business/article/0,8599,2013684,00.html) and read it – but figure all the same that some of your clients, contacts and general database have already taken a look at this.

The article itself takes on the point that it indicates in the title “The Case Against Home Ownership”.  It is one sided.  It is not an equal weighing of Good vs. Bad of home ownership… it sets out to do one thing and that is to make a case against owning a home. 

 If you (the experienced real estate professional) read this article – there are a number of things that you are going to scratch your head about and say, “huh… interesting point BUT…”  Again, this article is NOT written to explore those points or put together a democratic trail between them.  It is written (almost assuming the reader ALREADY knows the benefits of owning a home) to explore the down sides that many don’t necessarily look at.  In the broad scale of things, it’s a good read and makes some very interesting points.  It’s good for us to understand these things so that we can begin to formulate 1) responses to some of the questions and 2) to identify some of the factors in those clients that might NOT make them good candidates for home ownership.

 As many of you know, I am a HUGE proponent of Steve Harney and his blog www.KeepingCurrentMatters.com.  I believe that not only should all of you subscribe to his blog and receive updates from it in your inbox, but also that his paid service of $19.99/mo. Is some of the best money you could spend on your business.  Below is a response that Steve wrote on the TIME article and pulled fact from fiction on some of the points that they tried to make.  I think that it’s a good read for everyone.

 We all understand that this is a difficult time for those in real estate… both consumers and agents alike.  However, your job above all else, is to become the Trusted Advisor of those closest to you and choosing you to represent them.  That means that you are responsible for being able to decipher fact from fiction and opinion from proof.  There are many conflicting headlines out there today published by everyone from trusted sources like Wall Street Journal, CNN and many others.  Your job is to sift through this material and create KNOWLEDGE from the DATA presented.  Only by creating this knowledge and providing it objectively to your clients can you truly assist in their decision to buy, sell or invest in real estate.

 To further show this example of “conflicting headlines” here is a recent article from the Wall Street Journal discussing “10 Reasons to Buy a Home”.  http://online.wsj.com/article_email/SB10001424052748703376504575492023471133674-lMyQjAxMTAwMDEwNzExNDcyWj.html 

 The long and short of it is that your clients and those closest to you are looking to YOU, the professional, in this unsure time for guidance.  By reading this type of information and formulating educated objections and support to the matter discussed, you are not only providing exemplary service to your clients, you are serving as a Trusted Advisor in this incredibly important part of their life-investment strategy.

 Keep up the good work,

Matt

 

 

From: Keeping Current Matters [mailto:kcmcrew@gmail.com]
Sent: Friday, September 17, 2010 8:20 AM
To: Matthew.Dollinger@gmail.com
Subject: KCM Blog

 

http://kcmblog.com)">KCM Blog

 

Time Magazine: As Wrong Today as They Were in 2005

Posted: 17 Sep 2010 04:00 AM PDT

Time Magazine’s cover story last week was titled Rethinking Homeownership: Why Owning a Home May No Longer Make Economic Sense.

The webpage title for the online version of the article was After Housing Bubble, the Dark Side of Homeowner Dreams.

The actual article title on the internet was The Case Against Homeownership.

It is rather easy to guess the tone of the article with phrases such as “no longer make economic sense”, “the dark side” and “the case against”. The article was rather negative.

Did Time prove its point? I think not. They attempt to undo decades of research about the benefits of homeownership with one sentence, no research defending their position and a cute little dismissal of the actual research that had already been done.

First, they made a rather bold proclamation:

Evidence that homeownership actually brings other benefits is decidedly mixed.

Mixed? That claim caught my attention. I have read and reported on research which has established the benefits of homeownership. I was genuinely interested in learning of the research done that refutes this argument. Here is Time’s ‘evidence’:

On the surface, the results are often impressive. In 1997 academic economists Richard Green and Michelle White found that children of homeowners stay in school longer than children of renters and that daughters of homeowners are less likely to become teenage mothers. A 1999 study by Denise DiPasquale and Edward Glaeser concluded that homeowners are more likely to vote in elections and be involved in community organizations.

Yet the researchers who conduct such studies often warn about taking the findings too far. Just because two qualities show up at the same time doesn’t mean one is causing the other. DiPasquale and Glaeser, for instance, attribute a big part of their findings to the fact that homeowners move less frequently: they have more time in a community than renters do to get involved.

Is Time using the findings of a study proving the benefits of homeownership to try and disprove that same study? Where are the ‘mixed’ findings showing homeownership has no benefits? That’s what they claimed to have!

A 2009 study in the journal Real Estate Economics found that kids living in owned homes are less prone to drop out of high school, but whether a family owned a car had an even stronger correlation. Should we give cars the credit? Or should we instead realize that both home and car ownership are probably markers of something else, like a stable family life or living in a nice neighborhood?

Again, they are simply arguing a miniscule point of an extensive research paper that proves the benefits of homeownership. Where is their research, their study, their expert testimony disproving this study’s results? They gave none because there is none.

Time finishes this argument with a condescending note:

There is really only one effect that seems consistently caused by homeownership: owners invest more time and money in the physical upkeep of their homes. They are more likely to make repairs. They are more likely to garden.

Homeownership is not about gardening. It is so much more than that. I find it hard to believe that Time does not realize that.

2005 Cover

The cover of a Time issue in 2005 was titled Home, $weet, Home. In that article, they talked about the financial benefits of homeownership. That article was a much better piece of journalism which tackled both sides of the issue. However, they left the reader feeling as though they would be left out of future financial fortunes if they didn’t buy a home then. They did this with statements like this which appeared in the 2005 article:

“You shouldn’t get the impression that you can make six figures in real estate by snapping your fingers. Just ask Max Kaiser. It once took him a whole hour.” 

Bottom Line

In 2005, immediately before the housing bubble burst, Time suggested that owning a home might make financial sense. Thay dedicated a cover story to it. Time magazine got it wrong in 2005. Time magazine also got it wrong last week.

 

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My top picks for leadership books

Book list on Leadership by Matt Dollinger:

“Love is the Killer App” Tim Sanders

“Delivering Happiness: A Path to Profits, Passion, and Purpose” – Tony Hsieh

“Open Leadership: How Social Technology Can Transform the Way You Lead” Charlene Li

“Screw it, Let’s Do it – Lessons in Life and Business” – Sir Richard Branson

“The Back of the Napkin” – Dan Roam

“The Leadership Challenge, 4th Edition” – James Kouzes

“Leadership and Self Deception – Getting out of the Box” – Arbinger Institute

“Pleased, But not Satisfied” David Sokol

Matthew Dollinger


V.P of Strategic Development

@properties

212 East Ohio, Chicago, IL 60611

O:  312.506.0236

C:  773.354.9681

mattdollinger@atproperties.com


CONFIDENTIALITY NOTE:
This email message is for the sole use of the intended recipient(s) and may contain confidential and privileged information. Any unauthorized review, use, disclosure or distribution is strictly prohibited. If you are not the intended recipient, contact the sender via reply email and destroy all copies of the original message.

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Coaches Corner - Enhancing your Business through Education

We’d like to introduce you to the latest volume of the @properties Coaches Corner – your source for information regarding real estate and enhancing your business.  Each week we will provide you with articles that we have found online that will offer insight and information for you to share with clients, learn about your industry and grow your business.

In this issue:

  1. Coaching - “5 Things You MUST Start Doing Today (in real estate)” – courtesy of Keeping Current Matters (www.KeepingCurrentMatters.com)
    1. Steve Harney, CEO of Keeping Current Matters, puts together a short list of 5 things that you NEED to be doing today to make your real estate business move forward.  These are truly the basic things that all of us need to be focusing on today to up our level of service and become market experts to our clients.

  1. Coaching - “Getting over Call Reluctance with Tom Ferry” – courtesy of RealTrends Blog (www.realtrends.com/blog)
    1. The RealTrends blog is an amazing resource of information for agents to grow their business and study emerging trends.  In this video, real estate coach Tom Ferry discusses some tips to get over the ever-dreaded “call reluctance” we all face.  ESPECIALLY important for those of you doing sitting line today, that 1st phone call and committing to make it is the first step to actually securing that lead as a client.

  1. Technology – “Using Evernote as your one place for Online Notes” – courtesy of 1000watt Consulting Blog (www.1000wattconsulting/blog)
    1. The guys at 1000watt have shared this awesome online tool for compiling all of your notes into one cloud-based (online) place.  Available for both your laptop AND mobile devices, this tool will allow you to file pictures, voice, and text notes all into one place and easily sort them into categories.

  1. Technology – “Choosing the Right Smartphone – iPhone vs. HTC Evo vs. Droid X…” – courtesy of GadgetsDNA (www.gadgetsdna.com)
    1. Seems like everything is coming at us faster and faster today, and the phones that once were used just for calls now can do just about everything.  This is a great post that compares some of the top models out there today in features, but also in what you will be looking to spend as far as monthly fees, etc.

  1. Real Estate Market – “1.65 Million Properties Receive Foreclosure Filings in First Half of 2010” – courtesy of RealtyTrac (www.realtytrac.com)
    1. RealtyTrac® the leading online marketplace for foreclosure properties, today released its Midyear 2010 U.S. Foreclosure Market Report, which shows a total of 1,961,894 foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 1,654,634 U.S. properties in the first six months of 2010, a 5 percent decrease in total properties from the previous six months but an 8 percent increase in total properties from the first six months of 2009. The report also shows that 1.28 percent of all U.S. housing units (one in 78) received at least one foreclosure filing in the first half of the year.
    2. *Note* - this information is provided to you so that you may inform your clients as to what they are facing while selling their home.  Where a foreclosure unit might not be a direct competitor of your property for a myriad of reasons, the home buyer today IS looking at them!

  1. Real Estate Market – “Falling Home Prices Ignite Boom in Foreign Buyers” – courtesy of Real Estate Economy Watch (www.realestateeconomywatch.com)
    1. The number of American homes bought by foreign nationals has nearly doubled in the past year as falling property values and record numbers of distress sales encouraged immigrants and foreign investors to take advantage of affordable prices.  With home purchases by US citizens plummeting in the wake of the tax credit, foreigners are now poised to gain an even larger ownership share of the US residential market.

  1. Local Real Estate Market – “Chicago Neighborhood Market Stats Updated” – courtesy of the Chicago Association of Realtors (www.chicagorealtor.com)
    1. FastSTATS is your best resource for housing market trends in Chicago's 77 neighborhoods and 293 suburbs. FastSTATS consists of average sales price, median sales price, market time, units sold and percent changes for Chicago and the suburbs. Become familiar with FastSTATS so you can impress your clients with your knowledge of the market. FastSTATS are for C.A.R. members only and are not meant to be disseminated to consumers.

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Don’t forget about the @properties Friends and Neighbors Golf Outing on August 23rd!  There are still spots open to golf or just come and enjoy the day with others.  Remember this is for charity and however hard the market is, there are many less fortunate than us.  Follow this link for more information or to register for the event http://friends.atproperties.com/  


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(download)

Applicable Uses: "Release the KRAKEN!" #catchphrase

So I was sitting in a seminar today and listening to an unbelievably boring speaker when it came to me:

 

“The world needs a new catch phrase!”

 

Booyah – Holy Kaw – Etc….  Your time has come.  Time for something better.

 

So as flipping through a couple of websites I saw a promo for the new “Clash of the Titans” movie… and it came to me….

 

“Release the KRAKEN!”  That wonderful phrase uttered by Davey Jones (Pirates of the Caribbean) but created in the Desmond Davis 1981 epic “Clash of the Titans”.  Upon uttering this phrase Calibos releases the most horrific creature of the deep, “The Kraken” – see attached picture for 1981 monster!

 

But Matt, where could I use “Release the KRAKEN”?

 

Let’s explore a couple of real-life situations where this could be used appropriately:

 

  1. Bowling (or other sport) after rolling a strike – i.e. kind of a “suck it” type of thing to friends
  2. After closing a particularly hard deal – i.e. it’s time to party
  3. When your friend/girlfriend/boyfriend has too much to drink – i.e. someone let the fun-guy out
  4. When your blind date shows up – i.e. this is gonna suck the big one
  5. Pumping up your sales/sports team – i.e. we’re gonna bring the hurt down
  6. Driving on the highway, getting out of traffic – i.e. it’s time to cut this shit loose
  7. When the token crazy gets off the bus your riding – i.e. hey world – now it’s your problem
  8. When passionately involved with another – i.e. this luva aint got no training wheels!
  9. When your boss gets on his/her soapbox – i.e. who let this f*cker talk again?
  10. ????

 

Help me figure out the next situation… with a little help, we total sci-fi dorks can be responsible for the next big thing!

 

 

 

Matthew Dollinger

Performance Coach

@properties

212 East Ohio, Chicago, IL 60611

O:  312.506.0236

C:  773.354.9681

mattdollinger@atproperties.com

 

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View my ramblings, latest tech, and industry news at www.TheYouFactor.com

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Kraken

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