Posted by Ndwa on 5/22/07 6:41pm
Msg #191412

Notary reality

I had an (experienced) SA who quoted $100 for a 1st & 2nd with edocs. I tried telling him that it was a double, piggy back, combination, etc., but I guess the poor fellow was trying to compete with an SA/SS operation in the area.

The power rest within the almighty dollar. NSA road seems to getting shorter by the day with SS charging $100 (loss 2 bids) along with worsen TC pays ($150 down to $100). The future is near so plan your business accordingly.

Reply by Stamper_WI on 5/22/07 7:20pm
Msg #191426

Yup! I am having a realtively quiet EOM turning down low ballers. I have gotten 4 calls on the same signing with 3 different companies. Hello?
Gas is almost double, paper up 50% in the last year! And you want me to operate on fee rates from 6 years ago? I'll close shop first. At least I will still have the capital I invested in this business!

Reply by Charles_Ca on 5/22/07 7:46pm
Msg #191438

It is always darkest before dawn!

Things are changing, the industry is shaking itself out. The president of the National Association of Realtors called on brokers to cull the deadwood for the good of the industry. Hopefully some of the deadwood in the notary business will drop out also. To the victor go the spoils!

Reply by MistarellaFL on 5/22/07 7:48pm
Msg #191441

Re: It is always darkest before dawn!

I have been advised that realtors in this area are dropping out of site and getting J.O.B.S. with salaries.
We can only hope this will be true with our business as wsll.

Reply by Stamper_WI on 5/22/07 8:03pm
Msg #191449

Oh I am just mad today

United Notaries owes me a lot of money. I rarely get angry and seldom know what do do when I do get mad. The kids sold the punching bag at the last rummage sale.

I have many realtor freinds here. They are extremely busy. I have been going down and helping with the paperwork. One agency did close but that was her fault.

Reply by Charles_Ca on 5/22/07 8:16pm
Msg #191456

I find chopping firewood very cathartic! ;-) n/m

Reply by ME/NJ on 5/22/07 8:25pm
Msg #191461

I run a full time notary service and right now I'm lucky I cover the bills and have 10 bucks in my pocket @ the end of the month. I have business lines of credit and I don't want to tap them because I don't see things changing anytime soon.

So the resume is out and if I'm lucky I can do this part time. Hey it was great few years and we did do well from 01-05 all good things must come to a end.

Reply by jojo_MN on 5/22/07 8:37pm
Msg #191466

Not throwing in towel yet...lots of ARMs coming due. n/m

Reply by ME/NJ on 5/22/07 8:46pm
Msg #191467

Re: Not throwing in towel yet...lots of ARMs coming due.

Problem around here is.. Value of properties dropped off alot and now tons of folks are upside down.

example - home worth 600K last year is now 480-500K

Banks are even forgiving some of debt if the property goes into foreclosure. Person owed 500K and market value was 400K he owed 450K they forgave 50K then forclose. You are going to see more of this in higher priced areas.

Reply by Dorothy_MI on 5/22/07 9:01pm
Msg #191474

We are seeing this all over

in S.E. Michigan. Thank heavens for the REO's or I'd have a lot less business.

Reply by oldhippie_IL on 5/23/07 12:13pm
Msg #191575

ARM's

So when are the ARM's coming?? I've been waiting!!

Reply by Barb/MO on 5/24/07 11:33am
Msg #191753

Did 1 yesterday. Rate set to increase 6/1. New 6.25% fixed. n/m