| PRESIDENT'S
MESSAGE
We recently experienced the "official" first day of spring (March 20th), immediately followed by a chilling winter snow storm. I don’t know about you, but I am ready to take off the coat and gloves for good! One reason is golf! Another is that cold weather keeps buyers out of the market, whereas the "warm-up" brings them out of hibernation!
It all sounds rather psychological to me, but psychology does play a big role in affecting the mood of the market. For example, look at how media hype about "bubble talk" or the uncertainty of higher interest rates affects people. Whether positive or negative, these type of things account for shifts in borrowers’ views about the market.
To say that the first quarter of 2006 has been a little slow is probably an understatement. Yet, in reality, the numbers are still fairly robust. We may just be seeing a leveling-off period, especially when you consider the growing number of inexperienced originators that entered this business during the boom of the last
five years. As long as there was a loan at the end of every incoming call, experience was not necessary! But for the inexperienced, they may find it a bit more challenging to find their way through a more normal market, like the one we are facing now.
I know many successful mortgage originators, and there are certain qualities all of them possess. They work hard and play golf! They are committed to their professions in spite of market psychologies. And whether it is a positive or negative market, they have been through them all and know what it takes to keep their heads above water. Psychologically speaking … success in any climate is the right frame of mind mixed with a solid work ethic and a willingness to be your best!
"I’m a great believer in luck, and I find the harder I work the more I have of it." – Thomas Jefferson |
