Dave in Rocky Point

Another Year of Hunkering Down

by Dave McVay

WOW!!  What a year to build character.  I do know, however, that people in the real estate industry tend to be exceptional.  There are a few rules in this type of market that can help us, our family and dear friends.  Here are a few guidelines I have picked up in over 40 years in this industry:

  1. When things are tough and we feel the need to “warm our hearts”, we go buy something, “You deserve it.”  Because of our current economy, we tend to buy with a credit card.  DON’T DO IT!  If you have cash, go for it!!
  2. If your monthly income isn’t adequate, either lower your monthly expenses, work twice as hard or both. (I’m doing both).
  3. Most difficult for me is lowering my lifestyle.  I pay off my credit cards monthly which saves approximately 8-10% of my income.  Also, dealing with all of the real estate loans I am personally obligated & feel a moral obligation to pay monthly as long as I have the income.

Most of you have seriously considered modification, short selling your property or allowing the lender their right to foreclose. (I lost 2 properties in the 80’s to foreclosure).  There were long lasting, unexpected consequences; therefore, this should be the last resort.

In my search to lower my monthly outgo I ran into a short-sale company that is local, helpful and most importantly does not want any of the commission.  They collect a small amount from the “debtor” (the seller) and may collect from the lender.  The short-sale company does all the work and takes on the legal liability at no cost to you!

The name of the company is:

SHORT-SALE CLOSING EXPERTS, LLC
11811 N. Tatum Blvd., Suite 3031
Phoenix, AZ 85028
www.sscellc.com

Call today for information and speak with a transaction coordinator AT NO COST, 602-953-7744!

Your friend,
Dave

Posted on July 6th, 2010 in Mortgage Facts, Real Estate | No Comments »

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Baby Boomers coming!

by Dave McVay

Hi friends,

It sure is hard to predict the real estate market.   I have mixed emotions with regard to government involvement; however, if the Feds allowed the market to seek its own level, I believe that in the long run the market would be better off.

The baby boomers are coming!!!!  With the incredibly cold winter in the midwest and east coupled with hurricanes, tornados and oil seeping onto their shores, we will start experiencing a plethora of new retirees…meaning, our over abundance of houses for sale is coming to an end…good news!

Your friend,
Dave

Posted on May 17th, 2010 in Miscellaneous, Real Estate | No Comments »

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2010 (Twenty-Ten)

by Dave McVay

So are we going to call this year two thousand ten, or twenty-ten? I think I prefer twenty-ten.  Most of us in 2009 worked harder for less money.  It seemed like everyone spent the least they could spend and simply “hunkered down for the winter”.  Twenty-ten brings optimism, hope and cheer.  In Arizona, the real estate industry will come back sooner than most predict.  Let me explain…..the baby boomers are starting to retire; however, they have not started their retirement, sold their home in the Midwest or East. Why? Retirees do not have the pensions companies afforded them previously.  The 401k, which retirees have to depend on, took a huge hit and now many are concerned with the stability of the stock market.  Equally perplexing is the fact that retirees are finding it difficult to sell their home for the price they had planned and move to the desert southwest.

I HAVE THE ANSWER!  (By the way, baby boomers are very smart).  Sell your home in Ohio for 1/3 less than you thought it was worth and buy a home in Arizona for 1/3 less than the value – now it’s even. Your 401k will be fine.  In Arizona, you will not freeze to death or your utilities be wildly expensive.  Enjoy the greatest state in the Union for weather, beauty and way of life.

When the above occurs, home inventory will go way down, commercial buildings will begin to lease and the real estate industry will be back.

What can you do?  Contact all of your friends and relatives that live elsewhere and enthusiastically “pitch” our state to them.  One other thing, try not to stigmatize our industry to others….there has never been a better time to buy real estate in Arizona….CHEAP PRICES, LOW INTEREST RATES.

Your Buddy & Friend,
Dave

Posted on February 5th, 2010 in Real Estate | No Comments »

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Where do our values come from?

by Dave McVay

As an only child born to elderly parents, I was protected from other children, the “cold” of Tucson (huh?) and anything else my parents thought might be damaging to me. Until I was 16 years old, I had very few peer friends and my parents, Charles & Pauline, felt that television was detrimental and maybe sinful; therefore, we did not own one. (They may have had a point)!

After school, I would listen to western radio programs, do my chores and read. (Sounds like I was bored and lonely, right?) I don’t remember being either! I loved reading about my heroes and my favorite of all was Roy Rogers. I wanted to be like Roy Rogers. I wanted to BE Roy Rogers. I love and have owned horses partially because my hero loved horses.

I was a member of the Roy Rogers Rider’s Club. We had 10 rules we aspired to follow:

Roy Rogers Rider’s Rules

1. Be Neat & Clean
2. Be Courteous & Polite
3. Always Obey Your Parents
4. Protect the Weak & Help Them
5. Be Brave, But Never Take Chances
6. Study Hard & Learn All You Can
7. Be Kind to Animals & Take Care of Them
8. Eat All Your Food & Never Waste Any (I was really good with this one)!
9. Love God & Go to Church
10. Always Respect Our Flag & Our Country

Where did my values come from? Probably from the surrounding culture of the desert southwest, my wonderful attentive parents, friends, church teaching, school teachers and yes – my “Heroes”!

I believe we emulate the heroes we attach our heart and minds to while we’re young. Maybe if we weren’t fortunate to have “healthy” heroes while we were young, we now can look and find values we “want” to emulate.

Heroes are perfect when you’re young, not so when you’re an adult.

I hope you have a Merry Christmas, Happy Hanukkah & a wonderful 2010!

Dave

Posted on December 22nd, 2009 in Miscellaneous | No Comments »

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New Airport in Rocky Point

by Dave McVay

From the online service for the Arizona Daily Star:

“‘Arizona’s Beach’ will now be only a short flight away.

A new international airport in Puerto Peñasco — also known as Rocky Point — is to open next week. Initially, there will be service for private and executive flights, and the hope is to have commercial flights to and from Tucson, Phoenix and Hermosillo beginning in January…” Click here for the full story!

Posted on October 29th, 2009 in Rocky Point | No Comments »

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Poem by C. David McVay

by Dave McVay

An Arizona Summer

The Devil wanted a place on earth
Sort of a summer home,
A place to spend his vacation
Whenever he wanted to roam.

So he picked out Arizona
A place both wretched and rough
Where the climate was to his liking
And the cowboys hardened and tough.

He dried up the lakes and the valleys
Then burned and scorched it all,
He dried up the streams in the canyons
And ordered no rain to fall.

Then over this barren desert
He transplanted shrubs from hell,
The cactus, thistle and prickly pear,
The climate suited them well.

Now the home was much to his liking
But animal life he had none.
So he created crawling creatures
That all mankind would shun.

First he made the rattlesnake
With its forked poisonous tongue,
Taught it to strike and rattle
And how to swallow its young.

 Then he made scorpions and lizards
And the ugly horned toad
And he placed spiders of every description
Under rocks by the side of the road.

Then he ordered the sun to shine hotter
Hotter and hotter still
Until even the cactus wilted
And the horned toad looked ill.

Then he gazed on his earthly kingdom
As any creator would,
He chuckled a little up his sleeve
And admitted it was good.

Twas summer now, and Satan
Lay by a prickly pear to rest.
The sweat rolled off his swarthy brow
So he took off his coat and vest.

“By golly,” he finally panted,
“I did my job well.
I’m going back to where I came from,
Arizona is hotter than hell!!!”

-C. David McVay

Posted on October 12th, 2009 in Miscellaneous | No Comments »

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Loan Modifications

by Dave McVay

This is going to be a short one!  I’m busy working on modifying all of my real estate loans.  In the seminars, I have heard so many negatives regarding modification of loans. If you and/or your clients were turned down on a modification, let’s say last month—do it again!  The banks and the lenders are changing their guidelines on a daily basis. It is worth your effort and your client’s efforts if you study the alternative.

First of all, your property’s value has probably been decreased by about 1/3. Secondly, most of your savings has lost value. Your choices are:  continue paying your monthly payments on a “dead horse”, short sale the property and lower your credit rating, allow the lender to foreclose and devastate your credit rating, or finally, pester the lender until they allow you to modify the loan.

Also, on a positive note, I have been in the real estate industry for 41 years and have never experienced a more opportune time to buy real estate.  Interest rates are at an all time low and property values are close to a 10-yr. low (perfect storm)!  What is our excuse for not buying real estate today?  No money to purchase?  No stomach for possible loss?  All of us are sales people – contact your friends, relatives, neighbors and anyone else you can get a hold of to partner with you on the most fantastic time ever to buy real estate.

You know the market… make sure you don’t pay more than 80% of today’s value and stay away from “fix-ups”!

Let’s go out and take advantage of the greatest market you and I will ever see!  (If we don’t, we will be kicking ourselves 5 years from now)!

Your friend,
Dave

Posted on August 10th, 2009 in Real Estate | No Comments »

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Impact of Interest Rates

by Dave McVay

Got a guy in the mortgage business? (…now you do) but Guy Vetrano is a little more than just a “guy”, he’s a Certified Mortgage Planning Specialist at The Vetrano Group and is committed to your needs…at every turn.

Guy is one of our Partners in sponsoring classes and is a great person. We wanted to share some of his industry expertise with you today.

Everyone Wants a Lower Price, But What About the Impact of Interest Rates?

When shopping for a home, the natural tendency of any buyer is to want to pay the lowest price possible.  It’s important to keep in mind, however, that the sales price is not the only factor that determines what the monthly payment will be.  In fact, the impact of higher interest rates can easily nullify any benefit of waiting for a lower price.

Interest Rate Complacency

The problem is that many home buyers have been lulled into a sense of complacency because of extremely low interest rates.  Since the Federal Reserve initiated its program of buying mortgage-backed securities, which control the rates people pay for their home loans, rates have been range bound, bouncing between 4.50% to 5.00% for a 30-year fixed-rate loan.

But, buyers shouldn’t be confused by this.  These rates are artificially low! Historically, interest rates have been above 6.00%. And, any rate obtained below this number is a great deal, especially on homes with price tags from 2003!

Markets are Unforgiving

If your clients are waiting for prices to fall even lower, be aware that while holding out for a lower price may help them win the battle, they could lose the war in terms of monthly payments and overall affordability.  With the Federal Reserve scheduled to end its buying of mortgage-backed securities this year, rates only stand to go higher for those who wait.  In fact, interest rates are already on the rise and could go higher from here.

Clock is Ticking on Free Money

If you have clients who are planning on purchasing their first home this year, be sure to let them know that they need to take possession before 12/01/2009 to be eligible for a tax credit of up to $8,000.

If you have questions about this update, give me a call.  I can show you how waiting for the lowest price could really cost your clients more in the long run.

Guy R. Vetrano
Vetrano Group Mortgage Services Inc.
480-222-5560
guy@vetranogroup.com

Posted on June 23rd, 2009 in Mortgage Facts | No Comments »

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June Special for Online Real Estate Courses!

by Dave McVay

Just a note to update my friends on a money savings sale.  During the month of June, we have lowered our prices for 24 hours ONLINE to $149.00, including a Designated Broker’s Package.  Click here to view the Renewal Packages (they are near the top of the course list) included in our ONLINE JUNE SPECIAL.

In addition, our model for classroom seminars is to develop sponsors such as: Title companies, Mortgage companies, Warranty companies & Inspection companies.  If you are working with a company and you think we would benefit them, let me know at 602-663-8409 (fax: 602-374-8060), or lmcvay@cdavidmcvayschool.com and I will talk with them.  Our sponsors and partners assist us in keeping our prices down.

The market is banging around on the bottom with some light at the end of the tunnel.  All of us are tough and strong - we will come out of this wiser, tougher and, as all good entrepreneurs, with money in our pocket……”Tear ‘em up” this week and we’ll be talking to you soon!

Posted on June 5th, 2009 in Online Courses | No Comments »

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Learning, Good Humor, Great Place

by Dave McVay

The Rocky Point Renewathon was, once again, a great success. We had a great time going on a Dinner Cruise and the Fiesta was super with great entertainment. The weather was beautiful the whole time and the only thing we missed was YOU, MAYBE NEXT MAY!  Read on for some thoughts from people who attended.

Dave & Linda

Dave, thanks for a great renewathon last week. It is always a great pleasure to attend and you make a dull subject much more interesting than most other instructors. I always enjoy your classes and will see you in another two years.
Toby Farrel, Montana Vista Realty

The Rocky Point Renewathon was a mix of learning, good humor and a great place to hold a meeting. David has a way with analogies that holds your attention and makes somewhat “dry” material interesting. This was my second trip to Rocky Point for the renewal classes in the last two years and I expect to do it again.
Ken Heffron, Tierra Antigua Realty

David, I just wanted to thank you for the great hospitality and comfortable learning experience. I was dreading the idea of 24 hours of classes in 4 days but you made it a breeze and very enjoyable. I can say that I was 100% satisfied with the way that everything was handled. I am a lifer now and look forward to seeing you and your lovely wife Linda each year. What a great way to get my CEU credits while vacationing in Rocky Point.
Kurt Geisler, BROKER/OWNER, Licensed Sonora Mexico Realtor

I’ve always heard about the McVay Renewathon held down in Rocky Point. Since I now live here, I decided to give it a try. Never in my wildest dreams did I think it would be such a great time. David has such a great sense of humor making the classes so enjoyable, and still educational! Linda is the great organizer so everything goes perfectly. What a team! I’ll definitely be back next year!  Thank You Both! Mary Kay Everroad, Sonoran Resorts, Rocky Point

Posted on May 14th, 2009 in Rocky Point | No Comments »

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