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http://www.utahlowrates.com - 5 Refinance Mistakes most people make! Stop shopping for a mortgage until you watch this video by mortgage expert Greg Castagno of Salt Lake City.

Runaway gas and food prices are the most visible signs of inflation storming back in to the American economy.  The scepter of high inflation will certainly limit the Fed’s ability to stave of recession with further rate cuts.  As prices go up workers demand more money to keep up with the cost of living which is like pouring gas on an open inflation fire.  If the Fed is seen as too weak in controlling inflation consumers begin to expect it which drives this upward-spiral psychology.

From Bloomberg on the phenomenon:

The Fed’s concern: that inflation worries cause workers to demand bigger pay increases to make up for the loss of buying power, setting the stage for a wage-price spiral reminiscent of the late 1970s. Dallas Fed President Richard Fisher made clear this week that policy makers were determined to prevent that from happening.

Inflation expectations for the year ahead as measured by the Conference Board rose to 7.7 percent in May from 6.8 percent in April.

“Consumers’ inflation expectations, fueled by increasing prices at the pump, are now at an all-time high and are likely to rise further in the months ahead,” said Lynn Franco, director of the board’s Consumer Research Center in New York.

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http://www.utahlowrates.com - Who REALLY has the lowest rate in Utah? Find out here! Stop shopping for a mortgage until you watch this video by mortgage expert Greg Castagno of Salt Lake City.

http://www.utahlowrates.com - Who REALLY has the lowest rate in Utah? Find out here! Stop shopping for a mortgage until you watch this video by mortgage expert Greg Castagno of Salt Lake City.

http://www.utahlowrates.com - 7 Questoions Utah Mortgage Lenders and Brokers Hate! Stop shopping for a mortgage until you watch this video by mortgage expert Greg Castagno of Salt Lake City.

Thanks for the comments everyone, it’s really interesting to get people’s take on the idea. I’m the guy who is selling the house.

I appreciate the fact the concept isn’t radically different and to be honest, I too am a bit surprised the idea has gotten so much media attention. Not that I mind of course.

For what it’s worth, I’ll throw out a couple things rattling in my head:

* How “out of the box” can an idea be without scaring away buyers? My goal wasn’t to get national media coverage so paradigm-shifting wasn’t on the priority list. Anything in that vein would probably have done more harm than good so I tried to stick with concepts we’re all familiar with - price reductions, email alerts, etc.

* If you’re a local TV news producer and a web-only story becomes the most popular one on your website (that’s what they told me when they schedule the TV interview), would you send a crew out even if there are arguably more news-worthy stories out there? Of course that’s hard to answer but it’s worth mentioning my story followed one on a near-fatal car crash and a piece on a father who made it to the hospital just minutes after his son passed away, leaving him with no way to say goodbye. That’s a tough job to have, deciding what’s newsworthy and what’s not. As for CNN picking up the story, I’m as surprised as you.

* On the topic of pricing the to sell, that’s a tough one. Obviously I’m not a Realtor or agent so I don’t have a lot of data at my disposal but I did use what I could get my hands on. In addition to Zillow’s “zestimate”, which everyone has an opinion on, they also offer some great data on previously sold homes you can turn into $/sq ft. numbers and plot them over time. I charted that data and actually priced the house just lower than the mean because it got me under the $500k threshold and I didn’t want to scare people away. I guess we’ll have to see what final selling price is to know how accurate I was.

* For those without speakers, you can read about the idea at http://www.BothellCountdown.com (sorry for the obvious plug but the home page does explain the idea pretty well I think).

Thanks again for the comments.

Justin

http://www.chadaldridgeloans.com - 5 Refinance Mistakes most people make and how you can avoid them!Stop shopping for a North Carolina Refinance until you watch this video by mortgage expert Chad Aldridge.

‘frinstance-love it!!!
I don’t have as much distaste for referals paid to other agents as I do for “kick-backs” paid from related businesses i.e. insurance, escrow, mortgages, home warranties, home inspections and the like.
When I refer one of these companies to my clients, I do it because I think it is the best for my client, and have yet to collect any monetary gain from referring an associated service. Many agents however refer whoever gives them the best ‘kick-back” and will only refer someone who will give them a piece of the action. It is underhanded practices like this that give agents a bad name. Thanks for speaking out on this issue.

My brother-in-law had a neighbor like this. The summer he was sellling his home, he would mow, fertilize and weed the neighbor’s yard. He had a nice talk with the neighbor and the neighbor cleaned up a few car pieces etc… and tried to do a better job. I think if you are willing to help them clean it up, not just threaten to call the authorities, most people are reasonable. Most is the operative word though! If not the sellers may need to get nasty, and that is never fun.
Hope it all works out! Your neighbor’s home really does effect the sale of your home.

http://www.chadaldridgeloans.com - 7 Questions Lenders Hate! If you are seeking a mortgage in Greenville, NC, stop shopping until you watch this video by mortgage expert Chad Aldridge of Greenville!

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