Phil Mitsch's Real Estate Blog

It is absolutely necessary for human beings, especially those in sales, to “set goals”. Why ? Because a person’s “human nature” needs something to “look forward to” and “work toward”. This is why “setting goals” is so very important and essential for people, especially in the real estate and mortgage industries, to do. The “traditional problem” however is that most people who set goals never achieve them. And if you don’t believe me then answer this question. Why do only about ( 2 % ) of the people who set New Year’s Eve resolution “goals” achieve them ? The answer is because they have set “unrealistic” goals. Unrealistic goals are virtually “unachievable” whereby realistic goals are very “achievable”. And one of the best ways, I discovered early in my career, to both “set” and “achieve” realistic goals was to create, adopt, and implement the following “7 Step Formula To Achieve Goals”.

1.  “annual goals” are achieved by achieving “quarterly goals”

2.  “quarterly goals” are achieved by achieving “monthly goals”

3.  “monthly goals” are achieved by achieving “weekly goals”

4.  “weekly goals” are achieved by achieving “daily goals”

5.  “daily goals” are achieved by achieving “hourly goals”

6.  “hourly goals” are achieved by achieving “minute to minute goals”

7.  “minute to minute goals” are achieved by achieving “second to second goals”

And another one of “life’s lessons” that everyone should always remember is that “Rome Was Not Built In A Day” nor were the “Manmade Wonders Of The World” built in a day. They were in fact built with sweat and hard work brick by brick, second by second, minute by minute, hour by hour, day by day, etc., etc., etc… and so should “goals” be built and achieved the same way as well.

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I feel that it is critically important for home buyers, home sellers, real estate managers, real estate listing agents, real estate selling agents, mortgage managers and mortgage loan officers to have a proper understanding of what the “3” different types of real estate markets “are” and “what” causes them in order to clear up traditional misunderstandings and misconceptions about them.

Definition Of A "Buyer’s Market"

A “Buyer’s Market” favors home buyers and it is caused as a result of “supply” exceeding “demand”. Simply stated there are “more” home sellers than home buyers. In this type of market real estate values will “decrease” which is referred to as “depreciation”. An example of a “Buyer’s Market”, which by the way is the strongest in US history, is the one that has developed since the year 2006. 

Definition Of A "Seller’s Market"

A “Seller’s Market” favors home sellers and it is caused as a result of “demand” exceeding “supply”. Simply stated there are “more” home buyers than home sellers. In this type of market real estate values will “increase” which is referred to as “appreciation”. An example of a “Seller’s Market”, which by the way is the strongest in US history, is the one that developed between the years 1998 to 2004.

Definition Of A "Level Market"

A “Level Market” favors neither home buyers or home sellers and it is caused as a result of “demand” equaling “supply”. Simply stated there are about as many home buyers as there are home sellers. In this type of market real estate values will “level”. An example of a “Level Market” is the year 2005 which came “between” the strongest “Seller’s Market” in U.S. history and the strongest “Buyer’s Market” in U.S. history.

Definition Of The Terms "Bubble" And "Bubble Bursting"

A “Level Market” can begin at either the “end” of a “Seller’s Market” where there has been an “increase” in real estate values or the “end” of a “Buyer’s Market” where there has been a “decrease” in real estate values. At the end of a “Level Market” a “bubble” develops. This “bubble” ( like a balloon ) develops as a result of “pressure” ( like air being forced into a balloon ) caused from either an increase, decrease, or leveling of  “some” or “all” of  the “6 Economic Growth Factors”. At some point, because of this building pressure, the “bubble” eventually “bursts” just like a balloon.  If the “bubble” bursts “upwards” it’s the “start” of a “Seller’s Market”. If the “bubble” bursts “downwards” it’s the “start” of a “Buyer’s Market”.

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As an international real estate trainer I am certainly qualified to make “suggestions” to our various levels of government on what type of action can be taken that would result in the gradual increase of the “6 Economic Growth Factors”. I can also make “suggestions” to consumers on how to change their borrowing and spending habits. I can even make “suggestions” to our Federal Government on why they should declare a national state of “financial emergency” and what type of legislation they should pass immediately. All of my suggestions, if implemented, would certainly help to “jump start” the “6 Economic Growth Factors”. And accomplishing this would also help to prevent “further” and “future” deterioration of the U.S. real estate market and overall economy.

As a real estate trainer I can also help “jump start” the “6 Economic Growth Factors” by providing today’s home buyers, home sellers, the real estate industry, and the lending industry with the new, revolutionary, and state of the art “training” that is now necessary and that will enable the entire Home Buying, Home Selling, and Lending Processes to be handled in an entirely “new way”. The majority of “Financial Problems”, that I listed, developed because home buyers and home sellers have continued to “buy” and “sell” homes the “traditional way”. The majority of these “Financial Problems” have also developed because the real estate industry and the lending industry have continued to practice “real estate” and “lending” the “traditional way” as well. The “traditional way”, believe it or not, is no longer the “right way” if America wants to prevent “further” and “future” deterioration of the U.S. real estate market and overall economy.

Definition Of The "Right Way"

When I say that the real estate industry and the lending industry must stop practicing “real estate” and “lending” the traditional way what I mean is that they must stop adopting and implementing a “crisis management” philosophy when it comes to the performance of the entire home buying, home selling and lending processes. By “crisis management” I mean that traditionally the real estate industry and the lending industry have been ordering various “servicing company” inspections and services “after” home buyers and home sellers have signed agreements of sale. As a result of this traditional practice many “problems” have developed “after” home buyers and home sellers have signed agreements of sale. These “problems”, for years, have led to terminated transactions, renegotiated transactions, emotionalism, frustration, anxiety, arbitrations, mediations, threats of lawsuits, and actual lawsuits.

The fact of the matter is that if the real estate industry and the lending industry would just adopt and implement a “management to prevent crisis” philosophy when it comes to the performance of the entire home buying, home selling, and lending processes virtually every problem that has traditionally developed “after” home buyers and home sellers have signed agreements of sale could potentially be eliminated. That’s right ! Eliminated ! This “management to prevent crisis” philosophy could be accomplished if the real estate industry and the lending industry would simply order various “servicing company” inspections and services “prior to” home buyers and home sellers signing agreements of sale as opposed to “afterwards”. Adopting and implementing this “management to prevent crises” philosophy is exactly what I mean when I say that the entire home buying, home selling and lending processes should now be handled in an entirely “new way”.

My Educational Commitment To America

My educational commitment is to provide America with the new, revolutionary, and state of the art “Training” that is desperately needed and that will enable the entire home buying, home selling, and lending processes to be handled, as I have said, in an entirely “new way”. Again “new way” meaning that a philosophy of “management to prevent crisis” as opposed to a philosophy of “crisis management” should be adopted and implemented by the real estate industry and lending industry when it comes to the performance of the entire home buying, home selling, and lending processes. Adopting and implementing a philosophy of “management to prevent crisis” will : 1) help prevent further and future deterioration of the real estate market and overall economy, 2) help prevent the coming of the “Second Great Depression”, and 3) significantly increase real estate sales that will lead to “quickly” and “dramatically” stimulating our real estate market and overall economy. This is why I am now making my new, revolutionary and state of the art “64 Procedure Training System” for consumers, the real estate industry, and the lending industry available to the world. My “64 Procedure Training System” is not only based on my “management to prevent crisis” philosophy but it also truly represents the best and most comprehensive real estate training system in U.S. history. When home buyers, home sellers, real estate managers, real estate listing agents, real estate selling agents, mortgage managers, and mortgage loan officers “learn” and then “implement” all of my “tips” to this “64 Procedure Training System” the entire home buying, home selling, and lending processes will be able to be “performed” more proficiently, professionally, and productively than ever.

For Further Information Regarding Phil Mitsch's

Articles, Seminars and Educational Products

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856 - 665 - 6255

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Traditionally consumers, the real estate industry, and the lending industry have been “confused” between the terms “pre-qualification” and “pre-approval”. It is “absolutely critical” for home buyers, home sellers, real estate managers, real estate listing agents, real estate selling agents, mortgage managers, and mortgage loan officers to understand the “difference” between home buyers getting “pre-qualified” versus getting “pre-approved” prior to purchasing homes as well as the “benefits” of getting home buyers "pre-approved". The “difference” and “benefits” are as follows :

Definition Of  A Home Buyer “Pre-qualification”   

When a home buyer gets “pre-qualified” by a mortgage loan officer, prior to purchasing a home, it means that a home buyer is only “verbally” representing information to the mortgage loan officer pertaining to their income, expenses, and available cash and liquid assets. Based upon these “verbal” representations a mortgage loan officer calculates a mortgage “amount” or “amounts” that home buyers would potentially be qualified for. No mortgage processing, of any kind, is done to verify “in writing” any of the home buyer’s “verbal” representations. Simply stated a “Pre-qualification” is “not” a “Pre-approval” because it is not a “Mortgage Commitment”.   

Definition Of  A Home Buyer “Pre-approval”   

When a home buyer gets “pre-approved” by a mortgage loan officer, prior to purchasing a home, it means that a home buyer has actually had their “mortgage application” processed to confirm their “verbal” representations, made to a mortgage loan officer during the “pre-qualification” process.  As a result of completing mortgage processing the home buyers “information”, pertaining to their income, expenses, and available cash and liquid assets, are now verified “in writing”. Based upon this “written” verification a “Mortgage Commitment” showing an “approved” mortgage “amount” or “amounts” along with any other miscellaneous terms and conditions can be issued to the home buyers in writing. Simply stated a “Pre-approval” is a “Mortgage Commitment”.

Benefits Of Getting Home Buyers “Pre-approved”

There are many “Benefits” to getting home buyers “pre-approved” prior to their purchasing homes but the major “8 Benefits” are as follows :

1.   Home sellers prefer selling their homes to “pre-approved” home buyers

2.   Real estate listing agents prefer having their listings sold to “pre-approved” home buyers

3.   Real estate selling agents prefer working with “pre-approved” home buyers

4.   Home buyers, who are “pre-approved”, are in a stronger position to negotiate with  home sellers

5.   Mortgage processing must be done anyway so why not do it “prior to” purchasing a home instead of  the traditional way of “after” purchasing a home

6.   Getting home buyers “pre-approved” can potentially eliminate embarrassing situations from occurring for home buyers

7.   Getting home buyers “pre-approved” dramatically increases the odds of a real estate transaction "staying together”

8.   Getting home buyers “pre-approved” dramatically decreases the odds of real estate firms, real estate agents, lenders, and loan officers getting sued by home buyers and home sellers for malpractice.

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Let me tell you a story that describes my “Philosophy” about why, for approximately 230 years, the U. S. real estate market and overall economy have “boomed” and why that “boom” may now very well be over. Imagine a dry “sponge” and “water” in a bucket. The dry “sponge” represents American consumers’ “demand” for products and services throughout the history of our country which of course started in 1776. The “water” in the bucket represents the “supply” of products and services American consumers have desired since 1776. Now, further imagine that from 1776 through approximately 2005, the dry sponge was constantly able to absorb “water” from the bucket. As the sponge absorbed the water, throughout this period of time, the U. S. real estate market and overall economy was able to significantly “grow” and “prosper”. However didn’t anyone ever stop to think, during this 230 year period, what would happen “if” or “when” the sponge reached its maximum level of absorption? Apparently not ! I guess virtually everyone, throughout the history of our country, was content believing that we had a sponge that was capable of absorbing water for “eternity” and a water supply that would go on for “eternity” as well. Well guess what ? The sponge is not capable of absorbing water for eternity nor is the water supply capable of lasting for eternity.

Look at it this way, for approximately 230 years, the sponge was able to absorb the water in the bucket. However around the end of 2004 or early 2005 the sponge became “waterlogged” and as a result it was no longer capable of absorbing any more water. In order for the sponge, at this point in time, to be able to absorb water “again” it has to be thoroughly “wrung out” so that the “absorption process” can start all over again.

This is the same thing as saying, that after approximately 230 years, American consumers' “demand”  ( sponge ) became “waterlogged”. As a result consumers are no longer in a “financial” position to purchase the “supply” ( water ) of products and services that they traditionally were able to. Therefore it now becomes necessary to thoroughly “wring out” the sponge so that the American consumers’ “demand and supply process” can start all over again. However during the time that it takes to thoroughly “wring out” the sponge there is going to be a “dry spell”. This means that during the “dry spell” the U. S. real estate market and overall economy are going to experience severe “Financial Problems” like the ones that have developed since late 2004 and early 2005. As a result of the development of these “Financial Problems” the question now becomes - What’s the “best way” to wring out the sponge so that the American consumers’ “demand and supply process” can start all over again ?

As real estate sales in the United States “decrease” so will the real estate market and overall economy. Why ? Because purchasing real estate is one of the greatest overall economic stimulants. The reason is because “hundreds of thousands” of dollars filter “directly” and “indirectly” into the economy when real estate is purchased.

Examples Of How Real Estate Sales Stimulate The Economy

As a result of real estate being purchased, as I have said, hundreds of thousands of dollars filter “directly” and “indirectly” into the U. S. economy. As a result our economy has traditionally grown and prospered. Now here are “Examples” of how hundreds of thousands of dollars filter “Directly” and “Indirectly” into the U. S. economy each time real estate is purchased.

“Direct” Examples

1.  More “mortgage commissions” are generated

2.  More “mortgage interest” is generated

3.  More “real estate commissions” are generated

4.  More “title insurance fees” are generated

5.  More “home inspection fees” are generated

6.  More “pest control inspection fees” are generated

7.  More “environmental inspection fees” are generated

8.  More “township inspection fees” are generated

9.  More “appraisal fees” are generated

10. More “survey fees” are generated

11. More “home warranty plan fees” are generated

12. More “home insurance premiums” are generated

13. More “mortgage insurance premiums” are generated

“Indirect” Examples

1.  More “moving fees” are generated

2.  More “landscaping fees” are generated

3.  More “interior decorating fees” are generated

4.  More “furniture” is bought

5.  More “window treatments” are bought

6.  More “carpeting” and various types of flooring are bought

7.  More “appliances” are bought

8.  More “home improvement products” are bought

9.  More “general contracting fees” are generated

10. More “painting” is done

11. More “windows” are purchased or repaired

12. More “doors” are purchased or repaired

13. More “roofs” are installed or repaired

14. More “siding, downspouts, and gutters” are installed or repaired

15. More “plumbing service fees” are generated

16. More “heating service fees” are generated

17. More “electrical service fees” are generated

18. More “air conditioning service fees” are generated

19. More “masonry work fees” are generated

20. More “cesspools and septic tanks” are installed or repaired

21. More “drinking water wells” are drilled

22. More “water softeners” are purchased

23. More “basements and crawl spaces” are waterproofed

24. More “cars” are bought

25. More “gas” is used

26. More “fuel” is used

27. More “utilities” are used

28. And believe me I could go on and on !!

I think you get my point. There is no question about it “hundreds of thousands” of dollars filter into our economy every time even “one home” is purchased. “Real Estate Ownership” is one of the “6 Economic Growth Factors”, that I will be discussing, that is absolutely necessary in order for the U. S. real estate market and overall economy to grow and prosper. Take away the American consumer’s ability to purchase real estate and you take away America’s ability to have its real estate market and overall economy grow and prosper. And this is exactly what has now happened since the year 2004 in the United States. The year 2004 “potentially” will go down in the economic history books as the “end” of an approximately 230 year U. S. real estate market and overall economic “boom” and the beginning of, God knows for how long, the biggest U. S. real estate market and overall economic “bust” ever.

For Further Information Regarding Phil Mitsch's

Articles, Seminars and Educational Products

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856 - 665 - 6255

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"Vlogs" Section To See Phil Mitsch Real Estate Tips   

With Tracy Davidson, Host Of, All That And More  

Since the year 2004 the United States has slipped into the worst real estate market and overall economy in our country’s 232 year history. As a result many major and very serious “Financial Problems” have developed and still exist. If these “Financial Problems” are not addressed and solved very quickly by our “Government” then the United States is absolutely heading toward and will experience its “Second Great Depression” in the very near future. Now that’s the “Bad News” but the “Good News” is that the “Second Great Depression” can be avoided !!!

I can no longer sit back as a private citizen doing private home buyer, home seller, real estate industry and lending industry seminars and watch our “Government” allow this once great nation to fall to its knees both “financially” and “psychologically”. This is exactly why I have now agreed to give my “Knowledge” to America through mass media like the internet, television, radio, and large public seminars. Knowledge that releases over “2,000” of my real estate “tips” through my “69 Books”. The knowledge in these books, if adopted and implemented, will significantly help to 1) prevent the coming of the Second Great Depression, 2) stabilize the collapsing real estate market and overall economy, 3) increase real estate sales, 4) get the real estate market and overall economy back on a “positive” track as opposed to the negative one they are now on, 5) enable the entire home buying, home selling and lending processes to be handled more proficiently, professionally, and productively than ever, and 6) enable consumers to receive a higher level of service, disclosure, and protection from our government, the real estate industry and the lending industry.

Definition Of The Worst Real Estate Market In History

When I say “worst” real estate market in history what I mean is that since the year 2004 the United States has slipped into the “strongest” Buyer’s Market of all time. A Buyer’s Market means that the number of Sellers ( supply ) is “greater” than the number of Buyers ( demand ). Never before, in the history of our country, has there been such a substantial “ratio difference” between the number of Sellers versus the number of Buyers. And what’s making things even worse is that as more and more individuals and businesses get into “financial” and “psychological” trouble, as a result of the collapsing real estate market and overall economy, the number of Sellers is “increasing” and the number of Buyers is “decreasing”. As a result of this situation real estate values, equity, and real estate sales are also “decreasing” as well. This scenario is a “perfect storm” formula for “disaster” that will absolutely lead to a total “financial” and “psychological” collapse of the U. S. real estate market and overall economy.

For Further Information Regarding Phil Mitsch's

Articles, Seminars and Educational Products

Contact

856 - 665 - 6255

mitschseminars@comcast.net

Also Visit

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"Vlogs" Section To See Phil Mitsch Real Estate Tips   

With Tracy Davidson, Host Of, All That And More