Mort Rates

Mortgage rates moved to within a hair of the 4% barrier this week, according to mortgage giant Freddie Mac.

The average rate for 30-year, fixed-rate loans rose 0.07 percentage point to 3.98%, and is up 0.63 percentage point since the week of May 2. Rates have not been this high since the week of April 12, 2012.

"Fixed mortgage rates crept up further this week following a solid employment report for May," said Frank Nothaft, Freddie Mac's chief economist.

The recent improvement in the employment picture should result in more home buying, which would pressure rates even higher. Rates have also been going up because the Federal Reserve has signaled that it might cut back on buying mortgage-backed securities. If that happens, lenders would likely charge higher rates to make the securities more attractive to other buyers.

As rate increases push up the cost of home ownership, the impact on the housing market will be slight, according to Gumbinger, vice president of HSH.com, a mortgage information company.  But, he added, "Although the size of the increase was [small], it is still unwelcome as the housing market tries to gain momentum."

 

$30M Beverly Hills Cop shootout home

The increase will boost monthly mortgage payments for homebuyers by about $33 for every $100,000 borrowed. Gumbinger said that will discourage some existing homeowners from refinancing their loans if they already have a competitive rate but "[It] shouldn't be a major setback for a home purchase transaction."

But the soaring rates create a double whammy for would-be home buyers, with home prices also on a rapid rise -- up more than 10% in the 12 months ended March 31, according to the S&P/Case-Shiller national home price index.

If both trends continue, it could put a damper on a housing market still struggling to put the bust behind it. 

Slappy St. Nic

In a jolly, joyful, sort-of funny article (that is unrelated to entrepreneurial endeavors - almost) I'm reminded again of why and how we have this blessed Christmas.  St. Nicolas loved it, and yet he loved his savior more.  Check out this article from www.worldmag.com:

Slappy holiday

Why not take the Santa Claus tradition a little further?

Santa Claus had his origins in St. Nicholas, the fourth-century bishop of Myra in present-day Turkey. Known for his generosity and his love of children, Nicholas is said to have saved a poor family's daughters from slavery by tossing into their window enough gold for a rich dowry, a present that landed in some shoes or, in some accounts, stockings that were hung up to dry. Thus arose the custom of hanging up stockings for St. Nicholas to fill. And somehow he transmogrified into Santa Claus, who has become for many people the secular Christmas alternative to Jesus Christ.

But there is more to the story of Nicholas of Myra. He was also a delegate to the Council of Nicea in a.d. 325, which battled the heretics who denied the deity of Christ. He was thus one of the authors of the Nicene Creed, which affirms that Jesus Christ is both true God and true man. And unlike his later manifestation, Nicholas was particularly zealous in standing up for Christ.

During the Council of Nicea, jolly old St. Nicholas got so fed up with Arius, who taught that Jesus was just a man, that he walked up and slapped him! That unbishoplike behavior got him in trouble. The council almost stripped him of his office, but Nicholas said he was sorry, so he was forgiven.

The point is, the original Santa Claus was someone who flew off the handle when he heard someone minimizing Christ. Perhaps we can battle our culture's increasingly Christ-less Christmas by enlisting Santa in his original cause. The poor girls' stockings have become part of our Christmas imagery. So should the St. Nicholas slap.

Not a violent hit of the kind that got the good bishop in trouble, just a gentle, admonitory tap on the cheek. This should be reserved not for out-and-out nonbelievers, but for heretics (that is, people in the church who deny its teachings), Christians who forget about Jesus, and people who try to take Christ out of Christmas.

This will take a little tweaking of the mythology. Santa and his elves live at the North Pole where they compile a list of who is naughty, who is nice, and who is Nicean. On Christmas Eve, flying reindeer pull his sleigh full of gifts. And after he comes down the chimney, he will steal into the rooms of people dreaming of sugarplums who think they can do without Christ and slap them awake.

And we'll need new songs and TV specials ("Santa Claus Is Coming to Slap," "Deck the Apollinarian with Bats of Holly," "Frosty the Gnostic," "How the Arian Stole Christmas," "Rudolph the Red Knows Jesus").

Department store Santas should ask the children on their laps if they have been good, what they want for Christmas, and whether they understand the Two Natures of Christ. The Santas should also roam the shopping aisles, and if they hear any clerks wish their customers a mere "Happy Holiday," give them a slap.

This addition to his job description will keep Santa busy. Teachers who forbid the singing of religious Christmas carols-SLAP! Office managers who erect Holiday Trees-SLAP! Judges who outlaw manger displays-SLAP! People who give The Da Vinci Code as a Christmas present-SLAP! Ministers who cancel Sunday church services that fall on Christmas day-SLAP! SLAP!

Perhaps Santa Claus in his original role as a theological enforcer may not go over very well in our contemporary culture. People may then try to take both Christ and Santa Claus out of Christmas. And with that economic heresy, the retailers would start to do the slapping.

Updates to our Property Management System

Just like our logo, our Investment Brokerage / Management Business is growing and we’re happy to tell you about it.  As you would imagine because we are managing more houses we now have more staff.  In an effort to keep you up to speed I wanted to send you all all an update, further introducing to you our new staff, and clarifying our existing staff members.   As you will also note, we have made some changes to our management system in an effort to better serve you.

Rental Payments:

To begin following changes are immediately in effect at JXN Housing:

Rent proceeds to Property Owners are processed between the 20^th and the 22^nd, no longer specifically on the 21^st.  This is the case because of how days fall in months, and how we record our books. 

Regular Maintenance Requests:

Because we are a web-based brokerage we require that maintenance request be filed on our website at www.jxnhousing.managebuilding.com, and yet sometimes your tenants can’t seem to get to an internet connection in order to process a request.  For their convenience and for the maintenance of your investment we’ve added our Regular Maintenance Request Hotline.  Tenants need simply to call the office line: 601-376-9128 and press extension 99.

Emergency Maintenance Requests:

In that same light we’ve added an Emergency Maintenance Hotline.  Tenants now know that they have an Emergency Maintenance request they may call it in.  In order to file an Emergency Maintenance Report they call our office at 601-376-9128, and press 15 be connected to the property manager 24 hours a day to file your Emergency Maintenance Report. 

Staff:

At JXN Housing we have an expanding full service friendly staff.  Please review the staff, the brief explanations can help you understand how our management firm works.  Our staff is as follows:

Sarah Sullivan
Asst. Property Manager
sarah@jxnhousing.com
Ext. 100

Sarah is our voice here at JXN Housing.  She manages prospects  and advertises our properties.  When you call she will send you in the right direction.

Andrea Thornton
Account Manager
andrea@jxnhousing.com
Ext. 108

Andrea is oversees the books here at JXN Housing, and manages the payments to owners.  She is our executive in our accounting department.

Ronda Ashe
Account Processor
ronda@jxnhousing.com
Ext. 103

Ronda processes our leases, rents, draft checks, manages collections, and processes our new incoming clients.  Ronda can answer any question about your payments.

Marc Sanders
Director of Tenants
marc@jxnhousing.com
Ext. 107

If Sarah is our voice at JXN Housing, Marc is our smiling face.  Marc is our “Man on the ground,” and he is out and about showing properties, and is in the houses for inspections.

Your Property Manager:

In closing, we’re delighted to have you in the JXN Housing “family.”  We hope that you will see an increase in the level of professionalism with which you property is managed, and in your satisfaction with your investments.  If you would like to speak with me direct extension is 101. 

Thanks,

Dallis Ketchum

Realtor | Broker | Property Manager

JXN Housing LLC

PO Box 4262

Jackson, MS 39296

www.jxnhousing.com

dallis@jxnhousing.com

Fax:         601-510-9564

Work:     601-376-9128

Foreclosure Heat Map

Roll your mouse around below if you'd like to feel the foreclosure heat in the USA right now.  It's pretty amazing, and it can be read in several ways.  It's sad - I agree.  We think of all the people who have and will loose their homes.  This is true.  I feel for these folks, but I simply ask that for a moment you look at the facts on the flip side, one in particular - there has never been a better time to buy a home as when prices are so deflated, and rates so historically low.  The New York Times reports (in an article published yesterday) that even "The big investors are wooed by what they see as vast opportunity.  There are close to 650,000 foreclosed properties sitting on the books of lenders."  With opportunity on the rise, "An additional 710,000 are in the foreclosure process, and according to the Mortgage Bankers Association, about 3.25 million borrowers are delinquent on their loans and in danger of losing their homes."  So, this also creates a major surge in the rental market.  Naturally families are being forced to move, and find less expensive housing situations.  NY Times continues "With so many families displace from their homes by foreclosure, rental demand is rising," and the case is definitely true here in Jackson, MS.  Rental demand is stronger than ever, and investment properties are now more valuable than they have ever been in our Mississippi economy.


Lastly, you'll see here that this active chart shows which how many foreclosures are in each state.  Thankfully Mississppi isn't at the top of the list, but because of the Perfect Storm created by our economy we are able to reap the benefits of low lending rates and overall depressed housing prices nationwide.  This coupled with the fact that the Wall Street Journal (article from August 2010) labelled Jackson, MS the tenth strongest real estate investment market in the nation means one simple thing - Now is the time to acquire investment properties in Jackson.

Makes you think doesn't it...  We'll if it does - one of the Licensed Real Estate Brokerages that I operate specializes in Asset Acquistion and Property Management.  You can check it out here.  Holler if your interested, or if you need Property Management here in Jackson for houses you've already purchased.

Follow Your Passion

This video was shot last summer in France.  The short clip here on the blog is just a trailer to the full length 40 minute documentary which will go live (free, and available for download) tomorrow 11.11.11 on their adventure blog Sebmontaz.com.

It got me thinking - as it will for you too - are you following your passion?  Am I working at things that stretch me, that push me, that I can be endlessly growing in?  Am I pushing?

Check out the clip and enjoy.

I Believe I can Fly ( flight of the frenchies). Trailer from sebastien montaz-rosset on Vimeo.

Google Encrypts Search to Thwart Wi-Fi Hackers | Threat Level | Wired.com

Google Encrypts Search to Thwart Wi-Fi Hackers | Threat Level | Wired.com:

Which raises an important question:

What are you doing to protect your clients?

I know that at JXN Housing (our property management business) we take very seriously the confidentiality of all our clients and customers. Here's just your reminder - be careful, keep good records, and make it clear to your customers and clients that you are diligently protecting them. Remember the seven protected classes, tape them above your PC screen.

Google just gives us a good reminder - We should all be going to great lengths to protect our clients and customers.

Keep a steady look out,

Dallis

'via Blog this'

Google

If you've ever got the opportunity to attend a Google seminar - don't miss it. The Google Adwords seminar here in Nashville has been a mind-bending couple of days, and I can't wait to get home and implement the things I've learned. The power of advertising through Google to not only manage, but maintain and analyze the incoming traffic is a remarkably perceptive set of tools. Think of the power of being able to adjust every detail of how, where, to whom and when you advertise your entire business... Pretty amazing stuff!

A preview of Gmail’s new look - Official Gmail Blog

A preview of Gmail’s new look - Official Gmail Blog

Watch out! A new look is coming to your inbox. If you're a Google Calendar user then you've seen a little preview of what's to come. There are cleaner lines and a "less is more mentality" sifting quietly through Google Think Tank - and I like it. Check out this entry from the official Gmail Blog to find out more.

The Digital Whiteboard of My Mind

Remember Everything?

Have you got so many ideas in your head, and you can't quite get them all out?

I know we've all got our own ways of keeping notes or planning our goals, but if you haven't tried the remarkable (and free) app and web service called Evernote then... you have no idea what you are missing.  It is outstanding.  I think about it as the (digital) whiteboard of my mind.  Think about it like this:

You work in an office that is one room in a series of hallways in an office building.  In your line of work (as an entrepreneur think about all the different things you do everyday) you're always traveling in and out of your office as you not only complete all the task in your day, but plan, and expound, and create, and rabbit-trail, and return to the plan, and think of a new idea...  Some of these offices that you go into in your office building each day are simply required for you to complete your duties, others you go into because you are distracted about as you begin thinking of a new opportunity.  The offices that are necessary are the ones that are part of your daily work day.  The offices that aren't part of your normal routine you end up dropping into because you're interested in what they are doing.  You get distracted because you think it will create a new opportunity.

Now, I've driven the example a little far, but you get the point.  Well, think of all those "stop-ins" (when you drop by somebody's office that isn't exactly what you need to be doing, but you know there is something there), as mind detours.  Now, they are all valuable in there own regards, but they are nonetheless distracting.  And, because they are distracting you're having trouble working through your day, because you keep "entering other offices in your building" to work on something else.

So, here's my convoluted thesis:  Evernote is this in that scenario:  It is as if you painted a whiteboard on to every surface of the hallways in that office building that you work in.  You no longer have to walk into any office that isn't part of your normal work day and you can simply scribble notes on the whiteboard wall right next to that office.  Now, imagine that it is digital, and it keeps them all filed and compatibly reliable in an order all to your own, following you night and day.  Now imagine that it can take pictures, screen images, and record your voice.  You're getting the point...

With Evernote you can let go of everything big that you're working on in your mind and move forward with your daily tasks without loosing anything along the way.  www.evernote.com

Growth

Growth isn't measured by the things accomplished, but rather by the evaluation of those involved and affected by that growth (or failure, depending on how the whole is perceived).  Not just as an entrepreneur, but as an individual I am not doing any of this because this is the "end in itself."

Anytime you can't put your finger on it - you're working at whatever drives you.  

It's impossible to say that we aren't doing this because we aren't seeking the some tangible "ends to a means."  Of course we are.  And, we are working (at whatever we are working at) because we see something in the future.  All of us, are working towards something in all areas of our lives.  It may be "getting better at one thing or another."  It may be a particular deal.  It may be a golf game.  In the end, what I'm working toward isn't here, and as a Christian husband, father, churchman, and business man it is that I'm working toward the Kingdom.  It is full of its test and trials, and as this week draws to a close (in this fraction of reflection) - I welcome them.  I welcome them as growth in all the areas of life, because God is using them for His glory. So, I ask you, what is your "ends to a means?"  What is the intangible thing at the end of the day, or the year, or the career or the end of this life?

Retreat

I'm just now coming home from a retreat of sorts.  I'm getting the opportunity to pull back, to survey, and to focus on more than that which is just immediately in front of me and demanding my attention.  Take a moment, slow down.  Take the 3.5 minutes to watch this video, and think about how quickly life could be passing you by.


Timelapse - The City Limits from Dominic on Vimeo.

I've spent the last two days just evaluating my performance and setting goals for the future.  I recommend that you do the same.  We are all blinded by the can't see the forest for all the trees  mentality.  I encourage you - stop for a moment.  Think about where you want to go.  Think about how you want to grow.  Personally, I've found that I do this best by going out of town.  I'm forced to stop, to think and to look hard into the future of what I long to accomplish.  I recommend it - you will come back focused, driven and with needle-point vision.

Need a tool you don't have? Build it.

My new mobile site

Building tools in order to build a business is a remarkably fun thing.  It's so much fun to be freed to work on my business so that when I work at my business I've got the tools I need to do so more efficiently.  Since childhood I've been deeply interested in building things.  (Legos!)  I've loved to understand the way things work, because since youth  I've just needed to know.  

Somewhere back in my mind is a memory of my brother and I dismantling old VCR's and an old record player.  

As an entrepreneur, things aren't much different (probably more emphasized). I'm always trying to systematize whatever it is that I'm working on so that I can do that thing more efficiently.  I love working to build a system that takes some of the administrative "weight" of my business off of my plate and makes my day, week, year run smoother.  We've all heard it said about our businesses, "If you do it more than once, make a system."  And the principle is true.  If you find yourself wasting too much time every month scribbling numbers on scratch paper to figure our your insurance payments from your commercial policy - then it's time for a spreadsheet that does that math for you.  If you feel like you are wasting your time, and can't complete anything because you're always answering the phone then build yourself a phone system.  Tired of chasing applicants?  Make a system that makes them chase you.  I say all this because the more I surround myself with systems and procedures the more capable I become to build the tools necessary to keep me moving forward.  I'm constantly tripping up, and learning from it - but all in all, the systems make my life a little easier.

I'd encourage you to do the same thing.  Quit letting the administrative tasks eat up your day.  Take control of them and build a system for them to work within, freely and independently of you immediate conscience.  The more systems you build the more you can complete each day.  In fact, you're not alone.  Others need the same systems you do.  Those systems you are building may benefit someone else, and you can help them.  You also may be able to capitalize on your systems.  You may be able to help others implement your systems and make a profit at the same time.

So, with all that said...  It has it's glitches, and we're working through them, but I'm pleased to announce the launch of my mobile site for my Property Management company JXN Housing.  If you'd like to check it out go to www.jxnhousing.com on your Android, iPhone, iPad and you will be automatically redirected to www.jxnhousing.mobi.  It's the newest system I've been working on, and it's going to dramatically streamline the advertising process for my management system.  I say this because I've watched the analytics of visitors to JXN Housing's website and a strong portion of the visitor base is arriving via a mobile browser.  The integration of being able to meet a potential buyer/tenant at the door of the house via a mobile website is incredibly powerful.  You immediately loop them into using your site to find the house that you can provide them.  You become the strongest communicator in the field if you are communicating with that individual through the mobile phone.  You become their most reachable go to real estate answer-man.  So, check out the site, report any gliches, and let me know what you think.  Once I get the kinks worked out, and I see how advantageous it really is I may be able to build one for you and your real estate business.

So, I'd encourage you, go find yourself a system to build and have fun building it.

The Meeting is Wednesday

Jacksonians,

We still need your support.  On Wednesday of this week (4/27/11) we will sit before the City in hopes of being granted our Special Exception, so that Walt Wofford and I may use 1104 Jefferson as our professional real estate office.  We would greatly appreciate your support in this endeavor!  We're excited about the opportunity to serve Belhaven, Fondren and greater Jackson in all it's real estate needs.  We can't wait to get this building renovated and have a place to serve as a resource center for you.  If you haven't signed the petition, and you would like to: Please go to www.theneighborhouse.blogspot.com.  Thank you for your support!  And, once we have approval, please watch the NeighborHouse blog as we renovate our office...

What I'm learning about Zoning...

The text below is a direct quote from the City of Jackson's website. You can view it by clicking here.

And, I post it here, because Walt Wofford and I are applying for a special exception for 1104 N Jefferson St. Jackson, MS. We'd like to open a completely new Professional Real Estate office (called... NeighborHouse) for the betterment of the Belhaven neighborhood, the preservation and appreciation of comparable sales and to work as a resource center in real estate transactions for not only the Belhaven neighborhoods, but for the entire Tri-County area. So, here's what we are filing for - A Special Exception. And, it's safe for the neighborhood because:

• The designation only follows with ownership of the building.  So, if we sell it the Special Exception must be reevaluated.
• The Special Exception is annual-ably renewable.  In other words - If the people of Belhaven dislike the anything that is happening in this location the special exception won't be renewed.
• It's the higher use of a what is seen as a problem property.

So, here's what the city of Jackson says about Special Exception, and if you'd like to pop in and sign our petition it should be live on our blog www.theneighborhouse.blogspot.com by Saturday April 4th. 

"What is a Special Exception, Variance, or Use Permit?

Special Exceptions, Variances and Use Permits all require the same action as a rezoning. Please refer to the Zoning Action Application for additional information needed.

Special Exceptions are permitted on some properties whereby residential structures may be used for professional offices. Exterior alterations to the structure are prohibited, off-street parking can not be in the front yard, and landscaping screening is required.

How can I find out how my property is zoned?
To verify the zoning of property and uses permitted, contact the Land Development Division front desk (601-960-2037). The Official Zoning Map is available online in PDF format."


Commerce Street Overlay District
Fortification Street Rezoning Project
C-4 Down Mixed Use Zoning District Map
For More Information Contact:
Land Development Division
200 S. President St., Room 204
Jackson, MS
601-960-2037 or jwarnsley@city.jackson.ms.us

Google and Efficiency

Readers,

If you're out there - I've found that the more my work, file storage and general digital life moves forward the more it moves to the web (the cloud), and the easier all those things become. I've found that I'd like to remove anything that slows me down. The more I build a business that works on and through the web, the more it becomes less and less about specific hardware. My productivity becomes less intertwined with: software, enormous file storage, phone books or any certain chair. As I use the web the more I'm not stuck in that certain chair. The more I'm using websites and applications to complete work the less I have to "get back to my office before I can answer that question." The more I have submerged my business into Google's services the more Google works to administratively streamline my business.

And now, Google has taken the next step. With the unveiling of Google Chrome OS and the release of their first laptop, the cr-48 it has taken me and my business to the cloud. Watch the video and enjoy.

Buildium

Your mind can be free to continue building a business. Plug in and let go of your real estate accounting by clicking the link above. You will be blown away by how much can be "taken off of your plate." You can chill out because all your management billing can be done on the web by any PC/Mac and all on - total automation. You're going to love how much you can virtually unplug from the day to day of real estate accounting and let "the machine" do the work.

Enjoy.

Keyboard shortcuts - Gmail Help

Keyboard shortcuts - Gmail Help

If you're a Gmail user and you aren't using keyboard shortcuts - You've got to try it out. Its a pretty simple concept: Quit lifting your hands from the keyboard and just use the keys... For instance, how many times have you finished reading an email and then you slide your hand to the mouse to hit "Archive?" In essence you've had to look down to find the mouse, look up to see where you're driving it and then you click it. I know, it didn't take that long - we're talking milliseconds, but what if you just hit the letter "y" immediately archiving the message and sending you back to the inbox? Now isn't that easier? Gmail is full of these sorts of shortcuts. Click the link and check it out.

It Has No End

It's a funny thing about entrepreneurship, its just one building (block) after another. It rolls like seas. You go through ups and downs. You have highs and lows. Its the same for many professions because we all have times that are seasons of growth and times that are quiet.
And though the seas roll, you must keep your eye on your bearing. You must keep your goals in clear sight because in any business it is easy to become overwhelmed with the details, administration and project work load. For instance, take a look at the picture in this post. If I am overwhelmed I can only see a disaster zone, but if my eye is on the bigger goal I see progress.
This picture is of the basement at 1104 Jefferson. It is the bottom portion of the house on the NE corner of Jefferson and Carlisle around the corner from McDades. We're opening up this dark, dingy old basement apartment. All in all, we are consolidating several units that were just depressing, small spaces and opening it up into something desirable. It will be turned into something all together new and inviting, where it was once something drab. We bring in the light, and through doing so we can all see that "bearing" better in these rolling seas.
And with that small introduction I welcome you to come and see my next endeavor at www.TheNeighborHouse.com and at its new blog www.TheNeighborHouse.blogspot.com.
The next step, the next building (block)...

Progress.

Mike Butler

If you haven't read Mike Butler's "Landlording on Autopilot" then click on the book icon on the left and check it out.  Quite honestly, I don't know how I would have even begun building the ideals, upon which my management company is now built, without Mike Butler's insight.  It is full of tools, niches, and a wealth of general knowledge that I doubt anyone (who owns rentals) can live without.  Mike was a full time detective who was buying houses on the side.  He got to a point where he was spending a little bit of time in the evenings working on his portfolio, then, it got to where he was going to bed pretty late one night a week...  Next thing he knew he was working all day, every Saturday.  He stopped what he was doing and looked around.  He looked around and realized that he was managing 75 rental properties from his crowded basement.

Is his trail beginning to sound a little familiar?  Do you feel like you're spending every Saturday answering the phone and driving to houses?  If you do, it's time to automate.  It's time to get out of the drag of managing and streamline your business.  This book isn't a total problem solver, but it's a definite eye opener.