Monday, June 29, 2009

How is your Credibility?

I thought this worth sharing. We are ALL leaders. Or SHOULD be.... Read the book Tribes by Seth Godin or go to TED.com and find him and listen for 17 minutes....

CREDIBLE COMMUNICATION by John C. Maxwell

Credibility is a leader's currency. With it he or she is solvent; without it he or she is bankrupt.

Consider this metaphor: A leader with credibility has a pocketful of coins. As long as the pocket is full, the leader is believable, worthy of respect, and able to be trusted. Each time the leader breaks a promise or acts inconsistently with professed values, he or she must pay out some of the coins in their pocket. When the coins are gone, so is the leader's credibility. No amount of persuasion or personal appeal will be able to buy it back. Once lost, respect and trust take years to regain.


Here are the four keys to establishing credibility in your leadership:

1) Speak the truth.
Be honest and upfront. Transparency breeds legitimacy—make it a priority to be open with financial statements, policies, and decision-making rationale.

When I began my pastorate in San Diego, I followed the founding pastor who was retiring after having led the congregation for 27 years. He had a tremendous amount of trust in his bank account with the people, and he deserved it because he was a phenomenal leader.

As a young man, coming in after the departure of such a well-respected and admired veteran, I knew my success hinged upon my ability to earn the trust of the church. So, one Sunday night a
month, for several months, I would invite congregants to the church and spend a full hour answering any questions they had for me. At the first Q&A session, 600 people came. My sincerity and openness in fielding questions disarmed them, and it laid a solid foundation of credibility from which I could operate.

2) Don't hide bad news.
With corporate scandals at Enron, WorldCom, and Arthur Andersen seared in our collective memories, we have entered an era in which transparency is demanded like never before. With multiple information channels available, bad news always becomes known, so it behooves management to be candid right from the start.

Winston Churchill is a classic example of a leader who communicated bad news frankly and honestly. In the midst of World War II, he let the British know they were in their darkest
hour, their backs were up against the wall, and that democratic civilization rested upon their ability to win the war against Hitler. He never sugarcoated anything, and his sincerity
instilled a grim determination in his people to sacrifice and persevere.

3) Never over-promise.
Do not make promises you cannot keep. Why do you think politicians have such a poor reputation? It's very simple. They promise the world and seldom deliver.

I am naturally optimistic, and as my children were growing up, I found over-promising to be a weakness of mine. I would talk with my kids about going to exciting places and doing fun activities, but then my schedule wouldn't allow me to follow through with my intentions. I had to be very careful about what I said so that my children would be able to trust my words. Remember: A highly credible leader under-promises and over-delivers.

4) Do what you say you will do.
Follow up and follow through. Unfortunately, many in the corporate world politely make offers with no intent of carrying them out. After meetings and phone calls, follow up with a reminder email outlining the action items discussed and agreements made.

How many times have you been in a business meeting that ended with warm handshakes but empty commitments? When you say you'll pass along a friend's contact information to a business associate, do it. When you agree to meet with a potential partner, make it a point to schedule the meeting onto your calendar. Diligent follow through will set you apart from the
crowd and communicate excellence to those you meet.

Credibility is the bond between the leader and the follower, and it forms the bedrock of why people will do what the leader asks of them. Even the best leaders may suffer a blow to their
credibility. This may be the result of a mistake or error in judgment. Or, circumstances may conspire against the leader, such as adverse market conditions or the failure of a supplier or partner.

As a leader, how can you restore damaged credibility? Let me give you three steps.

1) Acknowledge the mistake
When decisions turn out unexpectedly, the leader owes his or her followers an explanation. The egos of leaders can make them quick to assign blame or make excuses, but the problem compounds when a leader does not acknowledge mistakes. The acknowledgement should be on the front end, and should be voluntary. A forced acknowledgement ("Because I got caught, I'd like to acknowledge this") does nothing to reestablish trust.

2) Apologize
Admit what you did was wrong, accept responsibility, and say you are sorry. To do it may be painful for the moment, but it will shorten the agony and enable the leader to put the incident
behind him or her.

3) Make Amends
Find a way to make amends to the people you've wronged. Make restitution to those you've harmed. You may not be required to do so, but a trustworthy leader goes the extra mile to remedy strained relationships.

"This article is used by permission from Dr. John C. Maxwell's free monthly e-newsletter
'Leadership Wired' available at www.INJOY.com."

Thursday, June 25, 2009

Anybody hear an ECHO BOOMER??

Will 'Echo Boomers' Save the Housing Market?
Echo boomers, the children of baby boomers, will be the salvation of the housing market, Harvard University's Joint Center for Housing Studies predicts.

In its annual state of the nation’s housing study, the center says that the 75 million Americans born between 1979 and 1995 will mean plenty of demand for housing units.

"There will be 5 million more echo boomers than there were boomers when they first started swelling housing markets," says Eric Belsky, executive director of the Joint Center.

Belsky predicts that once the job market turns around, the housing market will recovery quickly because inventories are close in balance between supply and demand.

But the study warns that while echo boomers will increase demand significantly, they may not drive up prices much because their real incomes are lower than those earned by people a decade older when they entered the job market.

"While fundamentally we see what could be the foundation for long-term recovery, we still have to get through today's challenges," says Nicolas Retsinas, director of the Harvard center.

Sources: CNNMoney.com, Les Christie, and Reuters, Lynn Adler (06/22/2009)

Anybody hear an ECHO??


Daily Real Estate News | June 24, 2009 | Share by clicking link at the TOP RIGHT - not here...
Will 'Echo Boomers' Save the Housing Market?
Echo boomers, the children of baby boomers, will be the salvation of the housing market, Harvard University's Joint Center for Housing Studies predicts.

In its annual state of the nation’s housing study, the center says that the 75 million Americans born between 1979 and 1995 will mean plenty of demand for housing units.

"There will be 5 million more echo boomers than there were boomers when they first started swelling housing markets," says Eric Belsky, executive director of the Joint Center.

Belsky predicts that once the job market turns around, the housing market will recovery quickly because inventories are close in balance between supply and demand.

But the study warns that while echo boomers will increase demand significantly, they may not drive up prices much because their real incomes are lower than those earned by people a decade older when they entered the job market.

"While fundamentally we see what could be the foundation for long-term recovery, we still have to get through today's challenges," says Nicolas Retsinas, director of the Harvard center.

Sources: CNNMoney.com, Les Christie, and Reuters, Lynn Adler (06/22/2009)

Friday, June 19, 2009

Buy a $150K home for $228/mo P&I 1st year...

If you have not OWNED a home in the last 3 years... or know someone else that fits that situation...

Wouldn't it be great to buy one THIS MONTH for just $228/mo net cost to you, P&I, the first year?

But, Donna.... HOW can I do that?

It's the $8,000 tax credit! If you purchase a home now for $150,000 on an FHA loan, the down payment will be $5,250. Yes, you need the down payment. If you can't save that, it's not time to do this in your life... But if you CAN.... Your mortgage would likely be pretty close to the $150K after you finance in the mortgage insurance, so let's assume a $150K loan at 6% interest for 30 years... That is about $895/mo P&I plus taxes and homeowners insurance... That is a FIXED rate and the amount you'll pay each month. NOT a bad monthly payment, is it?? BUT... what if you had a "kitty" that would give you $667 towards that each month the first year?? That would leave you a net cost of $228/mo P&I!

So... how does that work?

IF you close on a home BEFORE December 1st this year (which means you need to be under contract by about mid-October) then the US Government will give you $8,000 back as a tax credit on taxes you paid last year.... as long as you pay at least that in taxes! So.... if you got that full $8000 and divided that by 1 year of payments, and put that toward your payment each month... it would be about $667/mo. --- So, your net P&I would be only $228/mo on that first year! (And if you are in Georgia, the state will also give you $1800 tax credit over the next 3 years!)

Year 2-30 you'd pay the full $895 P&I, however, remember.... you got it at THIS year's interest rate, not NEXT YEAR's... and rates are going UP right now! Did you know rates have gone up a FULL % the last few weeks? Some lenders are predicting 8% by year end. THE TIME IS NOW...

The real questions is...How can you lose? Buying at TODAY's LOW PRICES and TODAY's LOW RATES... and having the CASH in hand to EASILY handle the monthly payments for the first year. You will NOT over-buy.... the bank is NOT going to let you... You have to QUALIFY for the loan at the full payment... And you DO need to come up with the down payment and closing costs, or work with a great agent to help you find a SELLER to pay your closing costs! Call NOW so I can help you make this a REALITY for your family...