Last night I watched a Tony Robbins’ interview with Eben Pagan, Internet marketing wiz kid. I say "kid" because he's only 38 and yet he's generated millions from internet marketing of his products. His products? He started with a "how to" on dating and is now into business development, how to hire the best employees, mastermind materials and all manner of improvement e-books. The product isn't what caught my attention. What snagged me came at the end of the interview and upon hearing it all that came before slammed into place.
Eben operates from a true abundance mentality. He talks about the 80/20 rule. Traditionally this concept addresses the notion that 80% of one's income comes from 20% of one's activities. Pagan's use is radically different. Having coined the concept of “moving the free-line”, Pagan promotes the idea that by giving away for free the value that I have to offer, I still retain that value and now another person has what I gave them AND I receive more in return. For instance: I have a lit candle, which I use to light your candle. My candle is still lit and now yours is lit AND there is MORE light because 2 candles are burning. Make sense?
So how does this translate into generating Wealth? The trick is to break out of the “scarcity mindset” (there’s a finite amount of money in the world and I’m going to get my share) and re-focusing attention on creating and then providing value. Once you are providing genuine value the money will follow. How do we know what’s of value? Look for a “yes” answer to the following 3 questions:
1) Does what I’m offering alleviate a pain my target client is experiencing?
2) Is my target client actively looking to alleviate that pain?
3) Does my target client have few or zero perceived options for alleviating that pain?
If you get 3 “yes” answers then you have a product that will sell itself.
How do I come up with a product/service that provides real value? Pagan’s answer: “Seek first to understand”. Talk to your client/people in your target market and find out where their pain points are. Dive deep in the conversation with an authentic intention to discover what their needs are. Once you know what they are in search of and cannot find then you insight into what you can create/offer as a product/service.
So what is “The New Wealth” and how is it created? New wealth is money made from a product or service that provides real value and the money is generated by the principal of – when I give it away I still have it and now you have it and I’ve gained from the act of giving. The key: SEEK FIRST TO UNDERSTAND!
Wednesday, February 24, 2010
Tuesday, February 23, 2010
The New Wealth
Last night I watched a Tony Robbins’ interview with Eben Pagan, Internet marketing wiz kid. I say "kid" because he's only 38 and yet he's generated millions from internet marketing of his products. His products? He started with a "how to" on dating and is now into business development, how to hire the best employees, mastermind materials and all manner of improvement e-books. The product isn't what caught my attention. What snagged me came at the end of the interview and upon hearing it all that came before slammed into place.
Eben operates from a true abundance mentality. He talks about the 80/20 rule. Traditionally this concept addresses the notion that 80% of one's income comes from 20% of one's activities. Pagan's use is radically different. Having coined the concept of “moving the free-line”, Pagan promotes the idea that by giving away for free the value that I have to offer, I still retain that value and now another person has what I gave them AND I receive more in return. For instance: I have a lit candle, which I use to light your candle. My candle is still lit and now yours is lit AND there is MORE light because 2 candles are burning. Make sense?
So how does this translate into generating Wealth? The trick is to break out of the “scarcity mindset” (there’s a finite amount of money in the world and I’m going to get my share) and re-focusing attention on creating and then providing value. Once you are providing genuine value the money will follow. How do we know what’s of value? Look for a “yes” answer to the following 3 questions:
1) Does what I’m offering alleviate a pain my target client is experiencing?
2) Is my target client actively looking to alleviate that pain?
3) Does my target client have few or zero perceived options for alleviating that pain?
If you get 3 “yes” answers then you have a product that will sell itself.
How do I come up with a product/service that provides real value? Pagan’s answer: “Seek first to understand”. Talk to your client/people in your target market and find out where their pain points are. Dive deep in the conversation with an authentic intention to discover what their needs are. Once you know what they are in search of and cannot find then you insight into what you can create/offer as a product/service.
So what is “The New Wealth” and how is it created? New wealth is money made from a product or service that provides real value and the money is generated by the principal of – when I give it away I still have it and now you have it and I’ve gained from the act of giving. The key: SEEK FIRST TO UNDERSTAND!
Eben operates from a true abundance mentality. He talks about the 80/20 rule. Traditionally this concept addresses the notion that 80% of one's income comes from 20% of one's activities. Pagan's use is radically different. Having coined the concept of “moving the free-line”, Pagan promotes the idea that by giving away for free the value that I have to offer, I still retain that value and now another person has what I gave them AND I receive more in return. For instance: I have a lit candle, which I use to light your candle. My candle is still lit and now yours is lit AND there is MORE light because 2 candles are burning. Make sense?
So how does this translate into generating Wealth? The trick is to break out of the “scarcity mindset” (there’s a finite amount of money in the world and I’m going to get my share) and re-focusing attention on creating and then providing value. Once you are providing genuine value the money will follow. How do we know what’s of value? Look for a “yes” answer to the following 3 questions:
1) Does what I’m offering alleviate a pain my target client is experiencing?
2) Is my target client actively looking to alleviate that pain?
3) Does my target client have few or zero perceived options for alleviating that pain?
If you get 3 “yes” answers then you have a product that will sell itself.
How do I come up with a product/service that provides real value? Pagan’s answer: “Seek first to understand”. Talk to your client/people in your target market and find out where their pain points are. Dive deep in the conversation with an authentic intention to discover what their needs are. Once you know what they are in search of and cannot find then you insight into what you can create/offer as a product/service.
So what is “The New Wealth” and how is it created? New wealth is money made from a product or service that provides real value and the money is generated by the principal of – when I give it away I still have it and now you have it and I’ve gained from the act of giving. The key: SEEK FIRST TO UNDERSTAND!
Thursday, September 24, 2009
Its Official – Denver’s Real Estate Market has Hit Bottom!
This statement is accurate for homes priced in the under $350K range. How do we know this? The numbers tell us. Several factors play into the rally. Low interest rates, the First Time Home Buyer Tax Credit, pent up demand among Sellers, and a shift in the composition of distressed property sales to name a few.
REO volume, after strong gains for four years, is running at 2007 levels so far this year. REO volume, Jan-July, declined 31% between 2008 and 2009 and in June of 2008 hit an all time high of 1300 bank owned closings. As of Q1 2009 that number has plummeted to just above 600. Short Sales are on the rise from a low in January of 2008 of about 95 up to just under 400 in July 2009.
This recent run-up in foreclosures and short sales mirrors Denver’s last foreclosure boom. Last time (which peaked in 1988 at 3.8% of Denver homes in foreclosure), it took four years to fully recover from the foreclosure hangover. This time the peak came in 2008 at 3.5%.
And even though overall sales volume is still down, average detached-single-family property discounts have been trending up (2.7% discount) for regular homes, but have declined dramatically (-.5% discount) in recent months for foreclosure properties. REO homes under $185K are increasingly selling at a premium, not a discount, if they are under contract in less than 5 days (selling at premium of 8.5%). Intense competition and multiple bids are driving up prices. A strong sign that we are have hit the bottom and are on the rise.
What’s next for home prices? Our Guesses for 2009:
• Higher price points will have more REO activity
• Inexpensive homes under $200K will appreciate
• Mid-Priced homes $200-$350K have much less REO activity, sales volume has held steady in many areas and might continue in 2009
• Near-Luxury homes $350-$1MM with more than 12 months of inventory is a Strong Buyers market and prices will come under pressure for the few sellers that must sell
• Luxury homes ($1MM+) is a train wreck with over 60 months of inventory this will be the last segment to recover.
REO volume, after strong gains for four years, is running at 2007 levels so far this year. REO volume, Jan-July, declined 31% between 2008 and 2009 and in June of 2008 hit an all time high of 1300 bank owned closings. As of Q1 2009 that number has plummeted to just above 600. Short Sales are on the rise from a low in January of 2008 of about 95 up to just under 400 in July 2009.
This recent run-up in foreclosures and short sales mirrors Denver’s last foreclosure boom. Last time (which peaked in 1988 at 3.8% of Denver homes in foreclosure), it took four years to fully recover from the foreclosure hangover. This time the peak came in 2008 at 3.5%.
And even though overall sales volume is still down, average detached-single-family property discounts have been trending up (2.7% discount) for regular homes, but have declined dramatically (-.5% discount) in recent months for foreclosure properties. REO homes under $185K are increasingly selling at a premium, not a discount, if they are under contract in less than 5 days (selling at premium of 8.5%). Intense competition and multiple bids are driving up prices. A strong sign that we are have hit the bottom and are on the rise.
What’s next for home prices? Our Guesses for 2009:
• Higher price points will have more REO activity
• Inexpensive homes under $200K will appreciate
• Mid-Priced homes $200-$350K have much less REO activity, sales volume has held steady in many areas and might continue in 2009
• Near-Luxury homes $350-$1MM with more than 12 months of inventory is a Strong Buyers market and prices will come under pressure for the few sellers that must sell
• Luxury homes ($1MM+) is a train wreck with over 60 months of inventory this will be the last segment to recover.
Wednesday, August 19, 2009
I Walk the Line
“Papa bought this house when I was four years old. I’m sure that crack was there when we moved in. I’ve never even thought about it before because its been that way since I can remember.” . . . Forty years of family life in a single place - home. Birthday gatherings, Christmas mornings, BBQ’s, high school proms, Sunday suppers, running through the garden, building forts, sobs of sadness, screams of laughter. Into this hallowed space enters a buyer.
“Does this crack indicate structural issues? Why are all the window sills a different type of marble? We can always just tear it out and open this up. This will need to be dealt with.” The potential new owners of the home, for this brief and unique moment, the time between first seeing their new home and the moment they move in to begin building a life there, see 2 worlds – the one that has been and the one that will be. “We instantly saw entertaining guests well into the evening in a setting by which all who enter will undoubtedly be enchanted . . . the sweet home and all the land on which it sits feels hidden away from all the rest of the world. . . magical . . . like a retreat . . . just waiting for us.”
As an agent, I walk a fine line; on one side: working to stay present to the world of the Seller – attached yet needing to move on – on the other side: the world of the Buyer – desirous to own a new home yet cautious lest they take on more than can be comfortably handled. Buying and selling a home is an enormous financial transaction, one that takes skill, knowledge and great attention to detail. It is also a powerful emotional transition.
As artists our personal space is tremendously important. For performers home provides sanctuary from the public nature of our lives. For painters it may be the inspiration that fills canvases. For a musician the structure may be the sound proofing necessary to record our latest opus. For the writer it may provide a room of one’s own to ponder our thoughts. For a filmmaker it may contain the dark corner to view our work.
Home means something different to each individual or couple with whom I work and there are always at least two sides to every story, two sides of the line. One is letting go; the other is taking hold, stepping into the future. I am grateful to be walking that line between past and future. Many thanks to those of you who have invited me into your process. And for those of you who are considering making a transition I would be honored to walk the line with you.
“Does this crack indicate structural issues? Why are all the window sills a different type of marble? We can always just tear it out and open this up. This will need to be dealt with.” The potential new owners of the home, for this brief and unique moment, the time between first seeing their new home and the moment they move in to begin building a life there, see 2 worlds – the one that has been and the one that will be. “We instantly saw entertaining guests well into the evening in a setting by which all who enter will undoubtedly be enchanted . . . the sweet home and all the land on which it sits feels hidden away from all the rest of the world. . . magical . . . like a retreat . . . just waiting for us.”
As an agent, I walk a fine line; on one side: working to stay present to the world of the Seller – attached yet needing to move on – on the other side: the world of the Buyer – desirous to own a new home yet cautious lest they take on more than can be comfortably handled. Buying and selling a home is an enormous financial transaction, one that takes skill, knowledge and great attention to detail. It is also a powerful emotional transition.
As artists our personal space is tremendously important. For performers home provides sanctuary from the public nature of our lives. For painters it may be the inspiration that fills canvases. For a musician the structure may be the sound proofing necessary to record our latest opus. For the writer it may provide a room of one’s own to ponder our thoughts. For a filmmaker it may contain the dark corner to view our work.
Home means something different to each individual or couple with whom I work and there are always at least two sides to every story, two sides of the line. One is letting go; the other is taking hold, stepping into the future. I am grateful to be walking that line between past and future. Many thanks to those of you who have invited me into your process. And for those of you who are considering making a transition I would be honored to walk the line with you.
“I think the most significant work we ever do,
in the whole world, in our whole life,
is done within the four walls of our own home.”
Stephen R. Covey
in the whole world, in our whole life,
is done within the four walls of our own home.”
Stephen R. Covey
Wednesday, August 12, 2009
Ponies are Driving the Market
OK so, Weds is my blog day and I always look forward to spending a few minutes writing. This morning began like any other Weds – I brought my computer into my art studio, got comfortable and began to put down some ideas to share. But it didn’t come so easy today and the results of my efforts were rather dry but informative so I figured what the heck, I can’t be brilliant every time.
But when I went to upload my entry I discovered my internet connection was kaput. Now that wouldn’t normally be any big deal but on top of the sewer back up, the hailstorm, the basement flood, my assistant quitting, 2 deals falling through it was the proverbial straw!
To my rescue came my wonderful biz partner, Lil, who encouraged me to shift my perspective by telling me a story that I want to share with you:
There was a psychiatrist doing a study on tolerance levels and how individuals respond to adversity. For his experiment he filled a large room 4 feet deep with horse manure and then invited various people to enter the room. Every single person who entered the room was filled with disgust - except one young boy. When the boy entered and immediately began diving and building, rolling around, making snowmen and building wacky structures. After an hour or so the boy finished playing and exited the room. The psychiatrist was fascinated by the boy’s reaction and wanting to understand why his reaction was so different asked the boy, “So talk to me. What were you thinking in there?” The boy’s response . . . “With that much horse shit I figured there had to be a pony in there somewhere!”
Thanks for the wisdom and the laugh Lil! And now on to the original blog entry.
Just the Facts! Real Estate Market Update
If you haven’t heard yet the Denver real estate market is shifting.
For the first time in years median home prices were a little higher in July 2009 at $229,900 than July 2008, at $229,200. The average home price Jan-July 2009 vs. the same period 2008 is down 6% compared to an 8% drop in the period Jan-May 2009. The price range from $200-$300K saw the most activity this July.
The drop in Denver single-family (DSF) unit volume, Jan-Jul 2009 vs. the same period in 2008 is down 18% compared to –21% Jan-May.
These numbers might not sound like anything to shout about but when we consider bank-owned properties under $185K we see the beginnings of a return to property selling at a premium.
For the DSF homes that sold in 5 days or less, the discount has been history since about Feb 2008. In July of this year these distressed properties sold at an 8.5% premium. Homes selling in 10-30 days the typical property started selling at a premium, not a discount, in August 2008 and that premium has grown to about a 3% average. Bank Owned or REO properties taking more than 30 days to sell continue to sell at a discount, but that discount is declining. Regular homes in the under %185K range are still selling at a modest discount of about 2% and this has been steady for a while.
But when I went to upload my entry I discovered my internet connection was kaput. Now that wouldn’t normally be any big deal but on top of the sewer back up, the hailstorm, the basement flood, my assistant quitting, 2 deals falling through it was the proverbial straw!
To my rescue came my wonderful biz partner, Lil, who encouraged me to shift my perspective by telling me a story that I want to share with you:
There was a psychiatrist doing a study on tolerance levels and how individuals respond to adversity. For his experiment he filled a large room 4 feet deep with horse manure and then invited various people to enter the room. Every single person who entered the room was filled with disgust - except one young boy. When the boy entered and immediately began diving and building, rolling around, making snowmen and building wacky structures. After an hour or so the boy finished playing and exited the room. The psychiatrist was fascinated by the boy’s reaction and wanting to understand why his reaction was so different asked the boy, “So talk to me. What were you thinking in there?” The boy’s response . . . “With that much horse shit I figured there had to be a pony in there somewhere!”
Thanks for the wisdom and the laugh Lil! And now on to the original blog entry.
Just the Facts! Real Estate Market Update
If you haven’t heard yet the Denver real estate market is shifting.
For the first time in years median home prices were a little higher in July 2009 at $229,900 than July 2008, at $229,200. The average home price Jan-July 2009 vs. the same period 2008 is down 6% compared to an 8% drop in the period Jan-May 2009. The price range from $200-$300K saw the most activity this July.
The drop in Denver single-family (DSF) unit volume, Jan-Jul 2009 vs. the same period in 2008 is down 18% compared to –21% Jan-May.
These numbers might not sound like anything to shout about but when we consider bank-owned properties under $185K we see the beginnings of a return to property selling at a premium.
For the DSF homes that sold in 5 days or less, the discount has been history since about Feb 2008. In July of this year these distressed properties sold at an 8.5% premium. Homes selling in 10-30 days the typical property started selling at a premium, not a discount, in August 2008 and that premium has grown to about a 3% average. Bank Owned or REO properties taking more than 30 days to sell continue to sell at a discount, but that discount is declining. Regular homes in the under %185K range are still selling at a modest discount of about 2% and this has been steady for a while.
Wednesday, July 29, 2009
When Disaster Strikes!
When disaster strikes – keep a cool head, ask lots of questions, bring in professionals, and use the ear of good friends. In the past 10 days my home has sustained damage from a record breaking hail storm, a sewer back up and a flash flood rain that left 3” of standing water in my basement and soaked the entire south end of my home in brackish water. Suffice it to say that the feelings I explored in last Weds’ blog came to roost in a big way.As is true in most events like this, the power is not so much in what has already happened but in what one learns from the experience.
Keep a cool head! Take a deep breath and do your best to assess the situation for what it actually is. Take care to keep the emotional reactions and fears out of the decision process. Take time to learn what is really happening and learn what factors are actually feeding the process. And most important take time to make the money decisions.
Bring in professionals! After 2 days of investigation by men from the City of Lakewood’s Water & Sewer Department, A+ Handyman, and 3 different technicians from $99, Rooter (favorite support resources for my real estate business) we were able to piece together several contributing factors that had converged to leave me quite literally treading as fast as I could to keep my head above water.
Ask lots of questions! There truly are no stupid questions. And keep questioning until what you are hearing and seeing make full and complete sense to you. “Why” & “How” were particularly illuminating during this process. Why is the water coming up here? How is the water supposed to flow? Why do you think this is the answer? How do you know (fill in the blank)? Extensive questioning will:
1) gently guide the professionals to continue thinking until they get to the bottom of the issue,
2) add to your knowledge (granted you may never have wanted to know this stuff),
3) keep you and the professionals on the same side working together to fix the problem preventing the sometimes adversarial role that can arise,
4) empower you to stay engaged in solving the problem and distract your mind from spiraling into freak-out fear.
Use the ear of good friends! Saturday’s flood came on the eve of what was to be a party of 70 or so people celebrating their “Sexy”. My dear friends Nader, Pier, Dave, Laura & Rod, Leslie, Lil, Terry each pitched in to sweep out water, get the word out about canceling the party, listening when my head was not so cool, care for my clients while I dealt with contractors and offer words of comfort & encouragement. Thanks my dear ones. I am lucky to have you in my life.
It is my sincere hope that none of you face the calamities described here. If however, the gods decide differently, I or another talented real estate professional can be an invaluable resource for getting things back on track. So if you have need of a plumber, or are considering a renovation project, or are curious about how to suck a few hundred gallons of water out of your basement shoot me an email at la@thrivingartistalliance.com or give me a call 303-726-1051 – I can help.
A special thanks to Jim Forth at Bancroft Clover - Don’t get me wrong, I’m bummed I have to pay for the dig but your responsiveness was impressive.
Wednesday, July 22, 2009
Persist without exception
My life is so full of marvelous things that at times I am overwhelmed with gratitude and the joy it brings. But if I am to be honest with myself, I must also admit to experiencing days on which I am equally overwhelmed with stress, worry and even fear stemming from the 3 full-time jobs I am undertaking at the moment: mother to three growing boys, full-time real estate agent and the creation of a new and soon to be national enterprise - Thriving Artist Alliance. On those rare yet emotionally depleting days when I suffer these negative concerns I find comfort and strength in the words of Andy Andrews from his book "The Traveler's Gift: Seven Decisions to a Successful Life". The story follows protagonist, David Ponder, at what is perhaps the worst moment in his life. He encounters an angel who takes him back in time to visit with a variety of historical figures each of whom has important words of wisdom to share about a decision that was key in his/her life. David learns one important "decision" from each character that once made the decision will be the difference between misery or mastery.
I have written the Seven Decisions on my bathroom mirror in china marker so that I can read them every morning as I prepare for my day and every night as I prepare for sleep. Considering the difficulties we've faced recently with the dip in our economy, wars waging in several countries, unemployment on the rise . . . the list goes on and on, the ideas expressed in the 7 Decisions have helped me build a life of happiness, a business worth continuing to build and a future that thrills and excites me. I strongly recommend Andy's books. Perhaps there you too can find something of value. Check out Andy's web site: www.andyandrews.com
The Buck Stops Here
I accept responsibility for my past. I control my thoughts. I control my emotions.
I am responsible for my success.
The buck stops here.
I accept responsibility for my past. I control my thoughts. I control my emotions.
I am responsible for my success.
The buck stops here.
I Will Seek Wisdom
I will be a servant to others I will listen to the counsel of wise men.
I will choose my friends with care.
I will seek wisdom.
I Am a Person of Action
I am courageous. I am a leader. I seize this moment.
I choose Now.
I am a person of action.
I Have a Decided Heart
I will not wait. I am passionate about my vision for the future.
My course has been charted. My destiny is assured.
I have a decided heart.
I will be a servant to others I will listen to the counsel of wise men.
I will choose my friends with care.
I will seek wisdom.
I Am a Person of Action
I am courageous. I am a leader. I seize this moment.
I choose Now.
I am a person of action.
I Have a Decided Heart
I will not wait. I am passionate about my vision for the future.
My course has been charted. My destiny is assured.
I have a decided heart.
Today I Will Choose to be Happy
I will greet each day with laughter. I will smile at every person I meet.
I am the possessor of a grateful spirit.
Today I will choose to be happy.
I Will Greet This Day with a Forgiving Spirit
I will forgive even those who do not ask for forgiveness. I will forgive those who criticize me unjustly. I will forgive myself.
I will greet this day with a forgiving spirit.
I Will Persist Without Exception
I will continue despite exhaustion. I will focus on results.
I am a person of great faith.
I will persist without exception.
I will greet each day with laughter. I will smile at every person I meet.
I am the possessor of a grateful spirit.
Today I will choose to be happy.
I Will Greet This Day with a Forgiving Spirit
I will forgive even those who do not ask for forgiveness. I will forgive those who criticize me unjustly. I will forgive myself.
I will greet this day with a forgiving spirit.
I Will Persist Without Exception
I will continue despite exhaustion. I will focus on results.
I am a person of great faith.
I will persist without exception.
I have written the Seven Decisions on my bathroom mirror in china marker so that I can read them every morning as I prepare for my day and every night as I prepare for sleep. Considering the difficulties we've faced recently with the dip in our economy, wars waging in several countries, unemployment on the rise . . . the list goes on and on, the ideas expressed in the 7 Decisions have helped me build a life of happiness, a business worth continuing to build and a future that thrills and excites me. I strongly recommend Andy's books. Perhaps there you too can find something of value. Check out Andy's web site: www.andyandrews.com
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