Real Estate Trends Home prices have risen nationally three times faster than incomes since the turn of the century, which has made home ownership an impossibility for more Americans than ever before. In many large cities, home prices have outpaced income. In Miami, for example, incomes have risen 16 percent, while home prices have increased 58 percent since early 1998. New York's Long Island suburbs have seen just a 14 percent rise in incomes as compared to an 81 percent increase in home prices. Boston home prices have gone up 89 percent, while incomes have increased only 22 percent. Even with a downturn in the real estate market looming on the horizon, home sales are still headed for ano…

Home Equity: How to Use It Let’s look at the different ways you can use your home’s equity. Refinance: In essence, this is a way of paying off your current mortgage and getting cash out based on how much equity (the difference between the market value of your home and what you owe on it) you have in your home. This is a great way to lower or lock in your mortgage interest rate. This is the way to get large sums of money – $30,000 or more – because you have 15 to 30 years to pay it off. On refinances, you may have to pay closing costs; discount points (used to increase the lender's yield or profit on the loan and equal to one percent of the loan amount); appraisal fees; ap…

Home Equity: How to Use It Let’s look at the different ways you can use your home’s equity. Refinance: In essence, this is a way of paying off your current mortgage and getting cash out based on how much equity (the difference between the market value of your home and what you owe on it) you have in your home. This is a great way to lower or lock in your mortgage interest rate. This is the way to get large sums of money – $30,000 or more – because you have 15 to 30 years to pay it off. On refinances, you may have to pay closing costs; discount points (used to increase the lender's yield or profit on the loan and equal to one percent of the loan amount); appraisal fees; ap…

Watch Your (Body) Language  Body language speaks volumes – yours as well as your prospect/client’s. Negative: l Limited or no eye contact l Brow tension l Crossed arms l Whole body positioned away from the person you’re speaking with l Tight jawline l Hunched shoulders l Rigid body posture l Tapping fingers. l Fidgeting. Positive: l Body position upright, facing the other person, leaning slightly forward means “I’m listening.” l Smiling eyes mean “I’m comfortable with you.” l Eye contact means “I’m interested. I like you.” l Relaxed jaw and brow means “I’m calm and at ease.” l Pleasant voice tone means “I’m relaxed.” l Fingers interlocked behi…

Watch Your (Body) Language  Body language speaks volumes – yours as well as your prospect/client’s. Negative: l Limited or no eye contact l Brow tension l Crossed arms l Whole body positioned away from the person you’re speaking with l Tight jawline l Hunched shoulders l Rigid body posture l Tapping fingers. l Fidgeting. Positive: l Body position upright, facing the other person, leaning slightly forward means “I’m listening.” l Smiling eyes mean “I’m comfortable with you.” l Eye contact means “I’m interested. I like you.” l Relaxed jaw and brow means “I’m calm and at ease.” l Pleasant voice tone means “I’m relaxed.” l Fingers interlocked behi…