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The Best Daily Deals in Salt Lake City: Bear River Snowscapes
Monday, December 20, 2010
Saturday, December 11, 2010
Interagency Appraisal and Evaluation Guidelines
The Board of Governors of the Federal Reserve System, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, Office of Thrift Supervision, and National Credit Union Administration issued a joint release December 2nd announcing the final supervisory guidance on sound practices by financial institutions for real estate appraisals and evaluations.
These guidelines, titled Interagency Appraisal and Evaluation Guidelines, will replace advices written in 1994.
Download the Joint Release here.
These guidelines, titled Interagency Appraisal and Evaluation Guidelines, will replace advices written in 1994.
Download the Joint Release here.
Tuesday, December 7, 2010
Fear of the Unknown
When people become complacent, it is often due to the forming of a bad habit. Complacency is the reason why people subconsciously filter out opportunities. We should have a thriving attitude, but because of complacency, we tend to have a survival attitude – we should "thrive instead of survive."
Just because you filtered out a certain opportunity, it doesn't mean it will disappear. It will still be there waiting for someone else to notice it. Have you heard the saying "timing is everything" before? Well, that's true, with opportunities, timing is crucial. There may be more reasons why most people do not take action on an opportunity and I'm going to mention two. 1) Their subconscious minds filtered it out because of complacency, and 2) because of fear. Fear is usually present due the unknown. Most people were trained to think of the worst possible scenario. For example, people tend to have conversations in their mind that go something like this: "I know this is a very good opportunity, but it's new and I don't know much about it, what if I lose money?" People should instead learn more about the opportunity and then say to themselves "I know this is a very good opportunity, and since I don't know much about it because it's new, I would research more because what if this takes off and make me millions of dollars?"
Comprehension gets rid of apprehension.
Robert Kiyosaki said that if someone is to start out in financial investments, the first thing one should do is start small and don't worry about the money, instead worry about your education. The second most important thing according to Kiyosaki is your Exit Strategy. If one is going into a deal, you want to know if it goes bad, "how do I exit?" If it goes well, "how do I exit?"
An example of the ideas discussed above is EXIT Realty. As a real estate professional, I do not understand why real estate agents will not make their exit strategy and join EXIT Realty knowing what is has to offer. Then one day it dawned on me, "That's it!" I know why other agents don't jump at the opportunity that is EXIT Realty, it's because of the unknown — they do not know about EXIT Realty's Formula and instead of learning more about it, they probably have been just filtering it out just because they are complacent with their current real estate company.
Check out the videos below and let me know if I'm right about this.
Hear what Bob McKinnon, Century 21® Pioneer, has to say about EXIT Realty:
com·pla·cen·cy [kuhm-pley-suhn-see] —noun: a feeling of quiet pleasure or security, often while unaware of some potential danger, defect, or the like; self-satisfaction or smug satisfaction with an existing situation, condition, etc.
op·por·tu·ni·ty [op-er-too-ni-tee, -tyoo-] —noun: 1. an appropriate or favorable time or occasion: Their meeting afforded an opportunity to exchange views. 2. a situation or condition favorable for attainment of a goal. 3. a good position, chance, or prospect, as for advancement or success.
thrive [thrahyv] —verb: 1. to prosper; be fortunate or successful. 2. to grow or develop vigorously; flourish: The children thrived in the country.
sur·vive [ser-vahyv] —verb: 1. to get along or remain healthy, happy, and unaffected in spite of some occurrence: She's surviving after the divorce. 2. to continue to live or exist after the death, cessation, or occurrence of: His wife survived him. He survived the operation. 5. to endure or live through (an affliction, adversity, misery, etc.): She's survived two divorces.
tim·ing [tahy-ming]: —noun: the selecting of the best time or speed for doing something in order to achieve the desired or maximum result: I went to ask for a raise, but my timing was bad, since the boss had indigestion.
fear [feer] —noun: 1. a distressing emotion aroused by impending danger, evil, pain, etc., whether the threat is real or imagined; the feeling or condition of being afraid.
un·known [uhn-nōn] —adjective: 1. not known; not within the range of one's knowledge, experience, or understanding; strange; unfamiliar. 2. not discovered, explored, identified, or ascertained: the unknown parts of Antarctica.
com·pre·hen·sion [kom-pri-hen-shuhn] —noun: 1. perception or understanding: His comprehension of physics is amazing for a young student. 2. capacity of the mind to perceive and understand; power to grasp ideas; ability to know.
ap·pre·hen·sion [ap-ri-hen-shuhn] —noun: anticipation of adversity or misfortune; suspicion or fear of future trouble or evil often without complete comprehension.
ex·it strat·e·gy [eg-zit strat-i-jee] —noun: a method or plan or series of maneuvers or stratagems for obtaining a specific goal or result that which is extricating oneself from an undesirable situation : an exit strategy for getting ahead in the world.
Just because you filtered out a certain opportunity, it doesn't mean it will disappear. It will still be there waiting for someone else to notice it. Have you heard the saying "timing is everything" before? Well, that's true, with opportunities, timing is crucial. There may be more reasons why most people do not take action on an opportunity and I'm going to mention two. 1) Their subconscious minds filtered it out because of complacency, and 2) because of fear. Fear is usually present due the unknown. Most people were trained to think of the worst possible scenario. For example, people tend to have conversations in their mind that go something like this: "I know this is a very good opportunity, but it's new and I don't know much about it, what if I lose money?" People should instead learn more about the opportunity and then say to themselves "I know this is a very good opportunity, and since I don't know much about it because it's new, I would research more because what if this takes off and make me millions of dollars?"
Comprehension gets rid of apprehension.
Robert Kiyosaki said that if someone is to start out in financial investments, the first thing one should do is start small and don't worry about the money, instead worry about your education. The second most important thing according to Kiyosaki is your Exit Strategy. If one is going into a deal, you want to know if it goes bad, "how do I exit?" If it goes well, "how do I exit?"
An example of the ideas discussed above is EXIT Realty. As a real estate professional, I do not understand why real estate agents will not make their exit strategy and join EXIT Realty knowing what is has to offer. Then one day it dawned on me, "That's it!" I know why other agents don't jump at the opportunity that is EXIT Realty, it's because of the unknown — they do not know about EXIT Realty's Formula and instead of learning more about it, they probably have been just filtering it out just because they are complacent with their current real estate company.
Check out the videos below and let me know if I'm right about this.
Hear what Bob McKinnon, Century 21® Pioneer, has to say about EXIT Realty:
com·pla·cen·cy [kuhm-pley-suhn-see] —noun: a feeling of quiet pleasure or security, often while unaware of some potential danger, defect, or the like; self-satisfaction or smug satisfaction with an existing situation, condition, etc.
op·por·tu·ni·ty [op-er-too-ni-tee, -tyoo-] —noun: 1. an appropriate or favorable time or occasion: Their meeting afforded an opportunity to exchange views. 2. a situation or condition favorable for attainment of a goal. 3. a good position, chance, or prospect, as for advancement or success.
thrive [thrahyv] —verb: 1. to prosper; be fortunate or successful. 2. to grow or develop vigorously; flourish: The children thrived in the country.
sur·vive [ser-vahyv] —verb: 1. to get along or remain healthy, happy, and unaffected in spite of some occurrence: She's surviving after the divorce. 2. to continue to live or exist after the death, cessation, or occurrence of: His wife survived him. He survived the operation. 5. to endure or live through (an affliction, adversity, misery, etc.): She's survived two divorces.
tim·ing [tahy-ming]: —noun: the selecting of the best time or speed for doing something in order to achieve the desired or maximum result: I went to ask for a raise, but my timing was bad, since the boss had indigestion.
fear [feer] —noun: 1. a distressing emotion aroused by impending danger, evil, pain, etc., whether the threat is real or imagined; the feeling or condition of being afraid.
un·known [uhn-nōn] —adjective: 1. not known; not within the range of one's knowledge, experience, or understanding; strange; unfamiliar. 2. not discovered, explored, identified, or ascertained: the unknown parts of Antarctica.
com·pre·hen·sion [kom-pri-hen-shuhn] —noun: 1. perception or understanding: His comprehension of physics is amazing for a young student. 2. capacity of the mind to perceive and understand; power to grasp ideas; ability to know.
ap·pre·hen·sion [ap-ri-hen-shuhn] —noun: anticipation of adversity or misfortune; suspicion or fear of future trouble or evil often without complete comprehension.
ex·it strat·e·gy [eg-zit strat-i-jee] —noun: a method or plan or series of maneuvers or stratagems for obtaining a specific goal or result that which is extricating oneself from an undesirable situation : an exit strategy for getting ahead in the world.
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