Bill on Marketing

We received a couple dozen emails from last week’s Blast concerning tougher FICO scores, higher down payment requirements, the effect on our industry, etc. Doug Graf writes, “…buying a home in Canada has required a 20% down payment. Friends of mine always saved enough for the 20% down payment. It may be that such a move here would be helpful to buyers.” Mike Flynn from John L. Scott opines that there is “…no more wrong with buyers having 20% down payment funds and solid FICO scores than there is with builders settling for a (slower) absorption rate.” Michael Lorenz wrote that “Down payments, good credit, collateral and character worked great before and will work great again.” Stephanie Shurtliff from TeamBuilder writes, “Excellent credit I can agree with. Low down payments are a must.” Steve Bower from Wells Fargo, Eric Hand from Response and Kari Kuipers from Bank of America all emailed with a reminder that FHA financing was available for as little as 3.5%, and the FICO score of a borrower is not applicable. Joe Deasy from Windermere provided some interesting stats to that took exception to LaCee’s column concerning sales being off in May-June. Joe’s numbers are convincing. My friend Dave Newton of 3rdActs.com emailed the following: “Bill, Bill, Bill, Bill, Bill.”

Sarah 'Krebsy' Adams Keeps Track

In case you haven’t noticed, we have just posted the third straight month of increased sales activity from one year ago. This is good news for our industry. Prices are down 10 percent from last year, 7,000 fewer homes are listed, and we are encouraged.

On a completely different note, check out our own Vija Williams at http://www.apple.com/iphone/business/profiles/teambuilder/

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