Kirk and Terry Blog

Studies have shown that your income and wealth are directly related to the size and depth of your vocabulary.   Here is this month’s word, so you can impress your friends (and maybe even fatten your wallet!)…

adamantine  \ad-uh-MAN-teen\ (adj.)

Meaning:  unyielding or firm
 
Example Sentence:  Charles became an adamantine critic when he discussed politics and economics.

More Free Real Estate Tips! 

Find TONS of free information about our local Richmond real estate market. Visit my site at:

www.MarcsHomes.Com

Did you know that 85% of your ability to succeed at anything depends on your skills at positively influencing people?  Brian Tracy, author of The Power of Charm offers a few tips on how you can become more charming:

The key is to make others feel good about themselves.

• Greet everyone you meet as someone very special. Make people feel special by asking questions about them, and being enthusiastic.
• Find something to praise people about.  Everyone likes to be praised be it the grocery clerk, your accountant, or your boss.
• Show your appreciation. Tracy says, thank everyone you come into contact with for whatever you can think of…it boosts people’s confidence, and makes them feel good about themselves. It also makes you feel better about yourself.

More Free Real Estate Tips! 

Find TONS of free information about our local Richmond real estate market. Visit my site at:

www.MarcsHomes.Com

Q. We are having our house appraised next month.  What do I need to know beforehand, especially if the appraisal is too low? 

A. The purpose of a real estate appraisal is to establish a property’s value for financing purposes. This is different from a comparative market analysis (CMA), which real estate agents use to estimate a true market value. Professional appraisers are licensed and regulated by each state and follow federal guidelines.

The appraisal is a detailed report that is required by a lender to secure a loan. The appraiser’s job is to determine the valuation of a property by inspecting the property, taking measurements, examining the location of the property, comparing it to at least three similar properties, and evaluating the real estate market in the area.  It’s important to note that an appraisal is not a home inspection.

If the appraisal comes in too low…keep your cool.  If the house appraisal is lower than the sales price, the loan may not be approved.  Many times there are several things you can do to fix or correct any problems and flaws that may have been found.

Learn How To Maximize The Value Of Your Home! 

Did you know there’s a free consumer report showing which repairs and fix-ups will net you the most value for your home?  It’s call the “Homeseller’s Guide To Money-Making Fix-Ups,” and it’s great even if you’re not planning on selling soon.  You can get a free copy by visiting our webstie at…

www.MarcsHomes.Com

Saving money is easier than you think.  In fact, you can find “66 Ways You Can Save” (from transportation, mortgages, banking, housing, energy, to insurance and more) at www.ftc.gov - Facts for Consumers. Here are a few simple ideas you’ll find:

1. Skip the ATM.  It’s amazing how many people burn up cash in a short time using the ATM. 
2. Track Your Monthly Spending.  When you know where you’re spending your money, you can make adjustments where necessary.
3. Pay Cash. You’ll save money by not paying interest on credit cards, and when you’re out of cash…you’ll stop spending.
4. Reduce Your Debt. Pay off your smallest balance first, then move to the next smallest debt, double the payment, and continue on until you’ve paid off your debt.
5. Lower Household Expenses.  Combine trips to save on fuel, and eat more meals at home.  Turn the thermostat down in the winter to save on home heating bills and you can save a bundle.
6. Look for the Deals. Shop discounts and closeout sales, and keep an eye out for coupons and rebates on items you plan to purchase.

More Free Real Estate Tips! 

Find TONS of free information about our local Richmond real estate market. Visit my site at:

www.MarcsHomes.Com

“If you look for the good in whatever happens you will find it.” These are powerful words from Dr. Susan Jeffers, psychologist and international bestselling author of several books including, Life is Huge! Laughing, Loving and Learning From It All.  This year, 2010, many people believe will be a turning point in both the economy and the lives of many individuals. Lets commit to making it the start of a great future and living our lives the way we always wanted to live htem. We’d all like to know how to enjoy our lives more, but sometimes we need a little nudge to get going.

Do you hold yourself back from new adventures thinking, “it’s too late to try something new”?  Or do you wake up to discover five years have come and gone, and you still haven’t pursued your dreams?  The time to begin is now. Think about it: What have you been wanting to do to live your dream life?  Here are a few strategies on how you can get the most out of your life:

•  Take out a pen and a pad of paper, and write at the top: “Things I want to do before I die.”   Then, list out every single thing you want to do (or want to be) that would make your life extraordinary.  In just minutes flat, you’ll start defining what a great life means to you.
•  Next, rank your list from most important to least important.  Then, take 2 of your top priorities, and set an exact date of when you will pursue and/or accomplish those items.  Be reasonable, but set a time to begin and a time to complete (if appropriate).  Consider finances required, if needed.
•  Take 20 minutes to an hour every day to specifically pursue your dreams.  Whether it’s building your knowledge base or skills, taking classes, planning travel, pursuing spirituality or discovering a new hobby, make that time a priority. 
•  Vividly envision how your life will be once you have completed your prioritized items – stay focused on the joy you’ll experience from a positive outcome.  Once you’ve completed one or two of your priorities, look at your prioritized list for more adventures.   

Here's to all of us making 2010 and the rest of our lives the best they can be!

Q. What are the new trends in home building? 

A. Every new home buyer has their own personal preferences, but according to a recent survey conducted by the National Association of Home Builders, there are some new trends in the new home building market.

Buyers surveyed wanted spacious garages with lots of storage, and many buyers wanted space for a workshop.  New home buyers want high-tech wiring for sound systems, computer networks, and entertainment.  One of biggest shifts is buyers are looking for fewer open floor plans, and preferred partial walls that separate areas.  Activity rooms were also important to new buyers.  This included space for a home office, game rooms, exercise areas, home entertainment areas, or a family room/den. 

Storage areas (kitchen pantry, walk-up attic, large closets, and special cabinets) were particularly important to new buyers.  New home buyers also wanted homes with lots of natural light.  Fewer buyers were interested in two story homes and preferred the master suite on the main floor with a walk-in shower stall. 

If you are buying or selling a home and need competent and caring representation, please call me, Marc Austin Highfill, at (804) 527-EXIT.

Do you find yourself getting that urge to drop-into Open Houses, even when you’re busy?  You’re not alone.  Many homeowners visit open houses to get design ideas, or to see how their home compares in the neighborhood.

But if you find yourself attracted to Open Houses frequently, you might want to ask yourself “why.”   You might just find that, even though you’re happy with your current home, you might be subconsciously searching for your dream home.  Perhaps you want a bigger yard.  A quieter street.  A gourmet kitchen.

Whatever the reason, there are sophisticated tools that can help. A computerized “Home Search” system can scour the market finding the exact home you want – automatically. It can get you daily updates on the newest homes on the market, and since it is a computerized system there’s never any pressure from working with a person, just great service.  Even if you’re just “thinking” and want to know what’s “out there,” consider giving it a try. Feel free to go to my website and sign up at http://www.marcshomes.com or call (804) 527-3948.

Would you like to live a happier, more fulfilled life?  I don't know a single person who would answer "No." I recently came across an article that had some simple ideas about how we can all achieve greater happiness in our lives... just by following a ver simple formula.

 
In a recent study by Professor Ed Diener, psychologist at the University of Illinois, people rated how happy they were based on a number of questions.  Diener compared the answers across the spectrum of age, sex, marital status, income, and health.  Strong evidence showed that happiness leads to better health and a longer life – no surprise there.

But what did come as a surprise is that levels of happiness changed based on age and social involvement. Here are a few of the specific factors researchers found that made people feel happier:

• Family and Friends. The better and more fulfilling the relationships with family and friends, the happier people felt.  Having friendships was shown to have a protective element against illness.  Researchers found that friendship actually had a bigger effect on the average person’s happiness than a person’s income.
• Marriage.  Being married also seemed important.  Marriage added an average seven years to a man’s life, and four years for women.
• Meaning in Life.  People who felt there was a larger purpose to their life - religion, philosophy, or spirituality were happier.
• Goals.  Happier people had pleasing long-term goals they worked toward and enjoyed achieving.

In several supporting studies, Dr. Martin Seligman, professor at the University of Pennsylvania, found that practicing simple exercises can increase a person’s level of happiness and decrease depression.  Dr. Seligman has designed “Happiness Building Exercises” to increase people’s happiness and well-being. You can find out more information about these exercises at www.reflectivehappiness.com

The news came Tuesday afternoon that Bank of America will repay the $45 billion it received as part of the U.S. government's Troubled Asset Relief Program. BOA's move might be a good sign for the recovering housing market and the overall economy.

First, it signals that the nation's largest mortgage lender has gotten itself back into decent shape. Whether that means more lending to home buyers remains to be seen, but it stands to reason that a healthier bank is in a better position to lend money.

Think of it this way: Would you rather have the nation's largest mortgage lender able to repay $45 billion or have it buckling under the weight of its acquisition of Merrill Lynch, which was in such bad shape that BOA hinted at backing out of the merger.

Although it's true that the move HAS to have something to do with its search for a CEO to replace out-going chief Ken Lewis -- the repayment will get BOA out from under the government's restrictions on CEO compensation -- the move is also good news for a couple of other obvious reasons.

First, the bank plans to raise capital to help pay for the repayment. This means selling stocks, which means it's counting on investors to be confident enough to pony up. And investors, as the bank probably hoped, are showing confidence already. Shares of BOA stock went up 2.2 percent after the announcement. Shares are around $16 after having hit a low of little more than $3 in March.

The second part of good news is that it would appear the government's moves to shore up the financial industry last year were the right ones. By helping to prop up BOA, which acquired Merrill and Countrywide Financial, the government helped the financial sector avert further meltdown. Yes, the $700 billion TARP was painful spending of taxpayers' dollars, but in hindsight, it appears to have been vital to the economy's overall health.

"We appreciate the critical role that the U.S. government played last fall in helping to stabilize financial markets," Lewis remarked in a BOA news release.

Now, some critics will argue that this repayment will be bad for consumers -- that the repayment will lift some restrictions on the company imposed by the government on banks that received TARP money. True, it will again let BOA decide on its own executive pay and bonuses -- topics that got big banks in hot water -- but the repayment will leave in place an element that is probably more important.

BOA, even in repayment, will have to maintain higher capital levels required by the government of all institutions receiving TARP money. Not having enough capital on hand -- banks were much less restricted earlier this decade -- is what got financial institutions in trouble when the credit crunch hit. And not-good-enough capital levels are blows to a bank's ability to lend money.

That the country's biggest mortgage bank is strong enough to repay its TARP money, is able to raise the money to do it and that it will be able to maintain healthy capital levels are good signs for the tight credit market.

We could all use tips on how to appear more confident once in a while, especially now when times are tough for some of us and confidence may be shaken.

There are simple but effective techniques you can use in your every day life to increase other people's good impression of you and boost your confidence level. Power schmoozing is what the experts call it.  Here’s what you need to know when you want to look more confident at a meeting, interview, or anytime you want to make a great impression:

• Get Closer. Stand up straight, or sit up with good posture and lean a little forward…you’ll command more attention.  People who are uncertain or fearful have a tendency to lean back in their chairs to create distance, says author Terri Mandell. 
• Look People in the Eye.  Averting your eyes or not making good eye contact can broadcast insecurity.
• Give a Compliment.  Nothing commands attention like making someone feel good.
• Ask For a Favor. When you ask for something, whether it’s a glass of water or a copy of a report, it helps to break the ice, and gives you an opportunity to connect. It also can help you to level the playing field says Pam Zarit, a New York media trainer.

Implement these easy steps and you'll see an immediate difference in your business and personal life!