Posted by ME/NJ on 4/18/12 11:10am
Msg #418158

Hope next week can make up April

I knew this month would slow down, 40% drop in volume. Gravy train lasted for 4 months, hope next month picks up again.

Have 4 scheduled already for next week and did 6 this week with a couple more today, but nada for Thursday and Friday.

Reply by Luckydog on 4/18/12 11:56am
Msg #418159

And your complaining, already 6 this week, a few today and it's only Wednesday? Sounds like a good week to me, and a good start on the next one. We should all be so unfortunate, you need to be grateful, seriously.

Reply by ME/NJ on 4/18/12 12:09pm
Msg #418165

Lucky Dog- need to do min 1K week or not worth it

It's a business, here to make money. Can't just wait around or would have nothing. Been doing this for many years. Business model has changed up in past couple of months need to adapt or die.

Need to forecast, and right now not feel to good about the next 30 days. VA loans taking 3-4 months, bank loans same thing only loans moving quick are broker deals and perfect people. (that is in my area)

Did 4 applications this month bet I won't see the close till May or June.

Reply by jba/fl on 4/18/12 12:52pm
Msg #418174

I think you missed his point entirely.

Every week you are bellyaching or bragging about how your business is or is not. We really do not need your scorecard, and yes, you do sound ungrateful and like a 4 year old spoiled brat.

JMNSHO

Reply by Karla/OR on 4/18/12 7:08pm
Msg #418223

There is a way of saying things without being rude -

See Luckydog's response below. I wish the nastiness from the same people on this forum would stop! IMO

Reply by Luckydog on 4/18/12 12:53pm
Msg #418175

Re: Lucky Dog- need to do min 1K week or not worth it

ME/NJ...Your the voice of doom or gloom. Negative brings negative. If you truly expect to pull in $1,000.00 a week steady, you must be in a hell of an area. I have been doing this 7+ years, and back in the hay day was doing that on occasion, but not recently. You must have a lot of expenses if you need that much, or die as you say to put that much stress on you. Perhaps you get paid much more in NJ than we do in Florida, because to make that much down here, your'e not sleeping. Good luck.

Reply by ME/NJ on 4/18/12 1:43pm
Msg #418181

Re: Lucky Dog- need to do min 1K week or not worth it

Lucky, NJ is very expensive to live in, family of four making 40K a year is poverty. I am well known in the industry and use to have a very high billable rate, times change the business model has changed. No Doom and gloom, realist you can hold onto what ever you think but only you can control your actions. You can wait or see the signs, I left at the end of 2008 because I saw what was happening and did not see a future. Hook up with one two major clients and you can be busy all the time. I have one client pays $90/ deal but they give me 5-6 a week like clock work. Lost a client paid 150+ deal they gave me 5/week. It is up to you work hard get the work and do your best, sometimes it hurts when you're very busy saying no to work.

I use the board a barometer to see and get a feel of what is going on over the country. Only 1% of notaries use this board.

Banks want 20% down unless it's FHA Approved, Foreclosures are still high and values still low, it will take 7-10 years to be back where we were in 2006 if job growth happens. Many old timers in this business are thinking about the industry now and not in a good way.

During the Hay Day- I did very well in this business, then the NNA felt the need to flood the market. Now JBA should be doing well they are giving homes away in orlando but sounds like a bitter old lady, My wife and I are considering buying as a investment. I close 3-4 FL properties a month because they are so cheap.

Many notaries still do well doing this, they even PM me can't believe when 4K/month post was talked about.

Reply by JanetK_CA on 4/18/12 2:54pm
Msg #418190

Re: Lucky Dog- need to do min 1K week or not worth it

Michael, this is a great post that discusses issues of the type we are all interested in on this board. However, I agree with Julianne about your posting of your business's "scorecard". You can't win when you start disclosing personal stats, so in my opinion, that kind of information should remain just that - personal.

Everyone's situation is different, as are everyone's numbers. So, as Julianne said, to some you're likely to sound like you're bragging and to others you may sound ungrateful - and some others probably wonder why you don't do even better. Besides, you just proved that you can address these issues without having to disclose "TMI"!

BTW, I totally get where you're coming from about what you need to earn. In my area, the numbers you're talking about would be tough for one person to live on comfortably, let alone a family of four!

Reply by OR on 4/18/12 11:57am
Msg #418160

I had 8 closings the 3 cancled. 1 of the 5 refused to sign. I have 2 booked for next week. April is running 50% of last year for me. What happend to the big push until 2014 everyone was talking about earler this year.

Reply by MW/VA on 4/18/12 12:05pm
Msg #418161

IMO it's a matter of simple economics. Rates are ridiculously low, but many people don't qualify to refi because of the drop in property values. That certainly has an impact in my area.

Reply by ME/NJ on 4/18/12 12:17pm
Msg #418170

Most deals are from Dec-Feb for this month add rate increase

December was a very low loan application month, plus rates are creeping back up again.

Reply by Teresa/FL on 4/18/12 12:16pm
Msg #418168

April 2011 was my worst month of that year

April 2012 is on track to be my best month so far this year.

Each month this year has surpassed the last. I am getting more refi closings and new home purchase closings as well as REO/Short Sale deals with the buyers paying cash.

I am still continuing to market and always looking for new opportunities.

Reply by LKT/CA on 4/18/12 9:42pm
Msg #418237

Agree with Julianne

<<<Every week you are bellyaching or bragging about how your business is or is not. We really do not need your scorecard,.......>>>

I totally agree with what jba/fl wrote....I cannot figure out for the life of me WHY you feel the need to announce your business? And you also announce your personal business (i.e. something about a new bike for your daughter and Kim going shopping, and going away for the weekend).

You don't know who lurks on this forum - and absolutely shouldn't be giving out your family member's names, nor announcing that you're leaving for the weekend. If you have info *about* a loan signing, by all means share, but to CONSTANTLY announce the number of loan signings you have (tomorrow, the next day or next week) - that is of ZERO value to the rest of us.

I've told you awhile back - now three people (today) have told you this. I hope you take heed from your peers.

Reply by Hugh Nations Signing Agents of Austin on 4/18/12 10:33pm
Msg #418241

I don't really understand why everyone's riding Mike's butt

I don't normally get involved in the discussions about how business is going; generally, I don't even read them. Mostly, I don't want to give anyone the opportunity to gloat if they're beating me three ways to Sunday, and if I'm smoking, I don't want anyone to think I'm bragging. But it seems to me there are lots and lots of people on this board who do enter into such discussions. So why is this guy being singled out and beat up?

Not trying to pick a fight. I just don't understand what it is that he's doing that is so much worse than what many other people do.

Reply by LKT/CA on 4/18/12 11:32pm
Msg #418242

Re: I don't really understand why everyone's riding Mike's butt

I can learn from how your signings are handled....I learn zero from *how many* signings you have. What's the point of someone writing (every other day) that they have two loan signings tomorrow and four on Friday? Yes, this is a public forum and people can write what they want. With that said, anything written is fair game to comment/scrutiny. JMHO

Reply by LKT/CA on 4/18/12 11:48pm
Msg #418243

To add...

<<<I don't want anyone to think I'm bragging. But it seems to me there are lots and lots of people on this board who do enter into such discussions. So why is this guy being singled out and beat up? Not trying to pick a fight. I just don't understand what it is that he's doing that is so much worse than what many other people do....>>>

I know of NO one else that announces their loan signing schedule every other day (or week). What are the post numbers of the *others* that you mentioned that do this?

There are too many variables to compare the busyness of one area to any other area so one's business can only be compared to the other notaries in THEIR territory and is of no value/comparison to notaries of other territories or states. Plus, there are other factors affecting one's business - availability, coverage area, marketing, fees, etc. Therefore, what's the point in one announcing their loan signing schedule?

Reply by Hugh Nations Signing Agents of Austin on 4/19/12 12:47am
Msg #418251

Re: To add...

***what's the point in one announcing their loan signing schedule?***

And the point in making a big issue of it is?

Reply by SheilaSJCA on 4/19/12 12:32am
Msg #418249

I always attribute the slow start of April to tax time- n/m

Reply by Dorothy_MI on 4/19/12 9:19am
Msg #418261

Re: I always attribute the slow start of April to tax time-

In addition, remember the month end we just came off of with everybody pushing as much out the door as possible to raise those month end and especially quarter end figures. We were closing in March loans that many times would have been allowed to spill over into the next month instead of working everyone (not just us, but processors and title people) almost to death.

One other thing I've determined from this board and my own personal experience, a great deal depends on which area the lenders chose to place their advertising. From looking at my book, I can tell which part of the Detroit Metro area they were targeting a couple of months ago because I get a whole bunch for Macomb county or western Wayne or southern Oakland because the assignments many times are bunched into a specific area. So although it has been a slow week for Mike in NJ, it has been a decent week for me in MI. Next week that may be completely reversed. I only worry about long term trends and not short term trends.

Reply by Allison_MI on 4/19/12 9:52am
Msg #418273

Re: I agree Dorothy.

It's been good and I do very little Detroit but mostly Oakland county. March was better but April is ok and we still got one week to go!