It was a Busy Week in the Jungle June 25, 2007
eBay and Google kind of make up – sort of
Nearly 2 weeks ago, I relayed the story of eBay & Google’s corporate cat fight. Well, eBay has decided resume their advertising on Google, but they will be relying on alternative advertising services to a greater degree. This is good news for Yahoo and Microsoft and it could be good news for you. You see, one potentially positive side effect of eBay of advertising less on Google, is that it might be easier for the rest of the world to win AdWords keyword auctions. If eBay bids less aggressively or doesn’t bid at all on certain terms, the reduced demand may push prices lower. Probably won’t happen, but it’s a nice thought anyway…
New top Yahoos
Terry Semel, resigned as CEO of Yahoo this past week. Much has been made of Yahoo’s inability to be Google, and Semel’s been in hot water for most of the last year. Additionally, Wenda Millard, chief sales officer in the U.S., resigned yesterday. Yahoo said it hopes the latest shake-up will streamline its sales to advertisers and hopefully the changes will make their customers happy (or at least the Wall Street hot shots calling for the executive shake-up).
Yahoo founder, Jerry Yang, gets to be CEO again. It’d be interesting to see if Yang will turn into the second coming of Steve Jobs or Michael Spindler.
Yahoo Maps – Is better than before, good enough?
Recently I noticed that Yahoo made some changes to their mapping platform. Among the improvements are the additions of European driving directions, terrain overlays, improved identification of neighborhoods, the ability to request driving directions by landmarks, and improved readability. Surprisingly, the reaction among Yahoo fans has been less than enthusiastic. Apparently, Yahoo is no longer using Decarta as their mapping engine but instead relying on in-house technologies, so they can better control their own destiny.
Unfortunately, Yahoo has been losing mind share & market share in local search and mapping to Microsoft & Google. Now that Yahoo controls its own destiny, it’ll be interesting to see if they catch up to Google (since they are still using Decarta) or Microsoft (which has always used in-house technologies). I hope the Yahoo guys can stay in the game. I really like their mapping API and they’ve done some innovative (if underappreciated) work.
Microsoft – Not making things easy for Google or Yahoo
Microsoft appears to be taking a lot of street level pictures. Can street level be far behind?
Sphere: Related ContentBuyer Beware - Protect Yourself! June 23, 2007
Every day I get flyers from agents in my email hawking their wares. Seriously, if you could see what these say you would know what questions to ask when hiring a buyer’s agent, and trust me, they ain’t the questions agents TELL you to ask! 
Anyway, here’s what prompted this post today. Yesterday I got a cool email saying “Ask the friendly and helpful listing agent”. I thought cool, they are not trying to fight the whole Redfin thing. But then I realized they aren’t talking to buyers at all. They are talking to the agent, as if the buyer’s agent is supposed to be the seller’s agent’s good buddy. And sometimes they are, don’t get me wrong. But I still would have given this guy the benefit of the doubt and be happy about his “helpful listing agent” until TODAY when I got THIS in my email from the SAME agent about the SAME house!
*** $1000 ***
Buyers Agent Bonus
For full price offer
Yeah, he’s going to help the buyer’s agent right into a FULL PRICE OFFER for his seller client, and pay the buyer agent $1,000 to have done so!
1) Agents - please get how BAD it is to suggest an agent should sell his soul and his client’s best interest for $1,000 bucks!!!
2) Buyers - PLEASE, PLEASE ask your agent what he is going to do with any bonus offerings up front, to remove the carrots from the sticks!!!
No, I’m NEVER going to stop talking about this. I get a ton of emails every day like this. But this one took the cake!
Get that bonus issue OFF THE TABLE before you go look at property with an agent. You don’t want him twisting your arm to make a full price offer, so he can get his $1,000 prize for offering you up for the slaughter like the sacrificial lamb!
Sphere: Related ContentIt’s Friday and mortgage interest rates are… June 22, 2007
Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties). Conforming rate quote below based on owner occupied with minimum credit scores of 680 with an 80% loan to value or lower. Rates quoted are priced based on a 45 day lock with 1 point and there are no prepayment penalties on any of the rates quoted below.
Just for giggles, I have added the change to the rate from my previous Friday’s rate post.
30 Year Fixed: 6.625% (APR 6.779%). Payment per $1000 = $6.40. (up 0.125%)
30 Year Fixed with 10 Year Interest Only: 6.750% (APR 6.906%). Payment per $1000 = $5.63. (up 0.125%)
40 Year Fixed: 6.750% (APR 6.901%). Payment per $1000 = $ 6.03. (up 0.125%)
7/1 ARM: 6.250%% (APR 6.392%). Payment per $1000 = $6.16. (no change)
5/1 ARM: 6.000% (APR 6.144%). Payment per $1000 = $6.00. (no change)
5/1 ARM with 10 Year Interest Only: 6.125% (APR 6.270%). Payment per $1000 = $5.10. (no change)
JUMBO (Non-Conforming) Rates. Pricing is based on the same criteria above, with the exception that the loan amount is $417,001-$650,000 (20% down).
30 Year Fixed: 6.625% (APR 6.782%). Payment per $1000 = $6.40. (no change)
30 Year Fixed with interest only payments: 6.750% (APR 6.920% ). Payment per $1000 = $5.63. (up 0.125%)
40 Year Fixed: 6.750% (APR 6.903%). Payment per $1000 = $6.03. (up 0.125%)
5/1 ARM: 6.125% (APR 6.274%%). Payment per $1000 = $6.08 (no change)
5/1 ARM with 10 Year interest only payments: 6.125% (APR 6.274%). Payment per $1000 = $5.10 (no change)
The roller coaster ride with mortgage interest rates promises to continue with several important economic indicators being released next week. My advice is to always lock in your interest rate…this is a very expensive time to be a rate shopper trying to catch “the lowest” rate.
Sphere: Related ContentIn Seattle and lovin’ it! June 21, 2007
This past week has felt like enduring nothing less than a tornado, but it is just about to spit me out. Yes, I am finally in sweet home Seattle after the rigorous 2,100-mile drive from Chicagoland, and I couldn’t be more ecstatic to be here. However, I’ll be much less anxious once my movers actually arrive and I don’t have to inconvenience my roommate by snatching one of her laptops for my own use every few hours. Unfortunately, I did miss out on the highly anticipated Fremont Solstice Parade, but could tell many were enjoying it based on the traffic that greeted my older brother and I when we arrived via I-90 this past Saturday morning.
We consumed three and a half days last week driving to Seattle, lounging in picturesque South Dakota, Montana and Moses Lake, WA. for one night each en route. Our arduous, but breathtaking roadtrip was taken in stride; we packed only 650 miles on my car three of the days and had my iPod Roadtrip working overtime. Although driving the constantly winding, dipping roads through the Rockies and other mountains made for a much more entertaining trip than I expected, especially since I had never made the cross-country escapade before.
My roommate (and her supercute doberman!) and I amazingly gelled immediately, attending a neighbor’s party my first night in Seattle. Understandably, I was bentset on testing the whole icy social scene theory and so far, between the conversations I had at the party and with others on my first day of graduate school, I have not been stung by the cold. But I have lived here mere days, so I’m sure I will have varied experiences, though I am persistent in my pursuit of new friends.
Thus far I have spent ample time deliberately getting lost downtown and adjusting to Seattle’s grid of roads (I love the street number system), but still find myself unknowingly clutching my multi-colored city tourist map as I drive. Being from flat-as-a-pancake Chicago, I cannot help but constantly be in significant awe of all the beauty that surrounds Seattle - the Puget Sound, Mt. Rainier etc., especially when I found myself on the 50th floor of a skyscraper on a brilliant sunny day yesterday. It’s all still surreal right now.
Any suggestions or input you have on navigating Seattle or tips in general would be welcome and most appreciated!
Sphere: Related ContentNeighborhood Round-up: Introducing Deborah! June 20, 2007
[Editor's note: When I noticed that Deborah Burns was writing a most wonderful blog about Seattle's Urban Villages, I could help but hope that she make take a part in helping to write about Seattle neighborhoods on RCG! And to my great pleasure, she agreed! Deborah has been with RCG for a long time (she even attended our first RCG meet-up back in April '06). One of the things Deborah has offered to do is to take over the neighborhood roundups I started a while back, which seems more than appropriate considering her interests... However, I sincerely hope she doesn't limit her involvement to this genre. Without further ado, I'm happy to welcome Deborah as the newest RCG contributor!]
So…here we go….
Over in Alki Summer Dreaming is manifesting itself on a plate at dinner and it looks oh so yummy…. Beach Drive Blog spotted a photo of a telephone pole with a poster of a handsome young dog lookin’ for love!
Ballard Avenue also posts a photo of a telephone pole with an application for P.U.G.s and one of the questions was: “Can pugs be spotted?” At large in Ballard ’s Dad passed along an article in The Boston Globe about Ballard, both it’s Nordic past and it’s trendiness today (see if you can spot the CEO of an innovative Seattle real estate company who makes an appearance at Cupcake Royal in the article) and ALIB defines “Hipness” for her PI readers.
Capitol Hill host a pizza & boxed wine party to welcome Art Cars to Seattle and The Fremont Solstice Fair. Red Brick Blog poses the eternal summer question…where’s the pool?
Miller Park Neighborhood Association has a eye grabbing headline: “Miller Neighbors buy drugs for one year old on Madison” a ‘catastrophe’ in the making. West Seattle Blog counts down to Emergency Preparedness this Saturday, are you disaster proof?
So go for a little virtual drive around the neighborhoods, take in the sights and stories.
Sphere: Related ContentThe Pacific Coast: Another reason to live in Washington State June 19, 2007
I just spent a long weekend backpacking up the coast in the company of friends, seals, sea otters, and bald eagles. It was one of the lowest tides of the year, so we could walk out and look at critters that spend most of their lives underwater. We could also check out seals and otters basking in the sun or floating in the inlets created by exposed rock.
(see the little brown objects in the middle? Those are all sea otters floating in a group.)
If you’re backpacking the coast, the hiking can be strenuous, and can include climbs up rope ladders that are often in disrepair and a lot of tromping through muddy trails to get around the rocky cliffs that are impassable on the beach.
There is also the near guarantee of clouds and a continuous drizzle of rain, which can have a certain charm if you’re from the area. The sunny days are absolutely spectacular though.
Sphere: Related ContentElectrical Outlets over the Mantle June 18, 2007
I just finished getting a house ready for market over in Green Lake/Phinney I don’t normally bulk things on the mantle like in the picture below, but there were two electrical outlets on each side of the mantle. A potential buyer said that these are used for big screen TVs. I think it’s just because the building code required them to be X feet from each other.
I just didn’t like the visusal of the outlets, so I grouped “stuff” on the mantle. But if anyone can shed some light on the benefit of this outlet placement, I’d appreciate your comments.
The rest of the staging was pretty simple and I just tweaked and moved furniture around. When the cabinets are 42″ers, and go all the way up to the ceiling, you don’t have to have as many bottles full of peppers and olives
Some houses are a lot of fun to get ready for market. This one was remodeled in 2006, so there were few challenges, but I still can’t get pictures of the bedrooms. I don’t like the integrity of wide angle shots that make the rooms look twice as big as they are, and I can’t find a vantage point where I can take a picture of the whole bedroom. I just load up the 15 shots permitted with other good looking rooms and features and figure people can see the bedrooms when they get there.
How important is it to show pictures of all of the bedrooms in the mls? Would you rule out a house that had no photos of the bedrooms?
Just picking your brains today. I don’t like staging that hides the house. Just a few things here and there. Seems no matter how many table settings I have in my toolkit, I always end up running in to Sur le Table for just the right placemats, napkins and napkin rings. I think I just like buying them. The ones I used here are super cool rich colored bamboo place mats I found for only six bucks at Sur le Table. Two place mats, two napkins and two napkin rings cost me $27. Theory is I can use them many times over, but I always seem to get new ones for most properties.
I ended up taking that big artifical tree out of the dining area and putting on the front porch, before I left, and after I took the photos. I like to keep the rooms as simple as possible.
Have you seen anything out there you particularly liked or disliked in staging lately? Any staging complaints? I usually drag a stranger in off the street when I’m finished, and sometimes they see something that bothers them that I didn’t notice. But when I finished this one and dragged in two couples who thought it was an Open House, they both seemed to like it and the owner was very pleased. Getting the house ready is a nice break from the contract and negotiation and the escrow side of the business. Nice to have “a hobby” that becomes part of my “work”.
Sphere: Related ContentBanker, Broker, Consumer Lender or Credit Union? June 17, 2007
In this four part series of blog articles, I will outline the possible advantages and disadvantages of different types of lending institutions. I will also offer suggestions on how a consumer can help himself or herself before and during your loan process. First, a quick primer. Consumers often tell me they think of the word “lender” and “loan officer” as words that mean any type of lending institution and the salespeople who work at them, respectively. This is not entirely accurate.
Bank: The entity which has the money to lend. The source of the mortgage funds.
Mortgage Banker: A mortgage company with a state or federal banking charter.
Mortgage Broker: A middleman who locates the funds for you, for a fee.
Correspondent Lender: A licensed mortgage broker with a line of credit from a bank.
Consumer Finance Company: A consumer loan lender that also originates mortgage loans.
Credit Union: A cooperative financial institution owned and controlled by its members.
A Loan Officer traditionally works for a bank or mortgage banker. Loan officers who work for a state or federally chartered bank are exempt from state licensing laws. No experience required.
A Loan Originator works for a mortgage broker and is required to be licensed in most all states and required to show their job title as it appears on their license: Loan Originator. No experience required but must pass a competency test in many states. Some states require continuing education.
Loan officers and loan originators are paid in many different ways: commission, salary plus a bonus, basis points, yield spread premiums or rebates, loan origination fees, and broker fees. It is perfectly reasonable for a consumer to ask a loan officer/originator how he or she is paid.
Loan Consultant, Mortgage Planner, Account Executive, Account Manager, Business Development Specialist, Mortgage Consultant: These are all subjective job titles that mean loan officer or loan originator.
Since a college degree with a specialization in mortgage lending finance are rare, some loan officers and loan originators choose to earn specialty designations. Industry trade groups NAMB, MBAA, NAPMW, and CMPS all have designation programs; no college degree required. Some designations require only a few hours of training. Others require weeks of training, rigorous exams, and continuing education. MBAA’s School of Mortgage Banking remains the gold standard for loan officers climbing the corporate ladder at a bank.
For part one of this series, I will provide reasons for and reasons against choosing a bank as your lending institution. Part two will cover brokers and correspondent lenders, part three will delve into consumer finance companies and in part four we’ll look at credit unions.
Banks
State banks such as Golf or Homestreet in Washington State, or federally chartered banks such as Wells Fargo or WaMu are in your community. It’s nice knowing you can walk into a bank branch in your city and talk to a real human. Because of their investment in the local community, banks traditionally have a higher degree of reliability, unless the mortgage market is experiencing high volumes. Because these institutions operate with strict budget guidelines, staffing will always be at its absolute minimum. During a refi boom, all lenders are looking for good people. Banks hire green people and train them, thereby keeping labor costs down. More experienced people are often recruited by other institutions offering higher pay. This often happens during a refi boom, and then banks are left with their newer staff members still in training. A bank such as Bank of America who is currently running a large, no-loan-fees promotion, will have hopefully staffed up ahead of time. BOA is running the current promotion at a slight loss, in order to make up the difference by selling you many bank products. Be aware of product type (ex: purchase only) and time limitations on promotions before you make application.
Banks are highly regulated, must submit to state or federal audits on a regular basis, and must maintain an internal auditing, compliance, and training department. Banks offer a variety but limited number of loan programs. Because of their internal compliance infrastructure, banks are often already set up to do FHA and VA loans. If it is true that many subprime loans could have gone FHA/VA, then a bank is definitely a place for a first time homebuyer OR someone with less than perfect credit to seek out for a Good Faith Estimate. Banks pay their loan officers less when the loan is brokered to an outside company. Therefore, an LO has an external incentive to try to fit a consumer into its available products.
At a bank, your mortgage loan application may be quickly be transferred to an out-of-state processing center. Ask about this before you make application. Banks are not very flexible with their policies. Why? Because they have the money and you want it. If you don’t like their policies they will likely tell you there’s nothing they can do, with a smile on their face.
Some banks that specialize in mortgage banking such as Countrywide offer so many different products that their loan officers rarely need to broker a loan to an outside lender and they often have human underwriters located on site or within the same state.
Loan officers will often have more experience at a mortgage bank. Mortgage bankers usually have a national or regional presence. Sometimes they will even service their own loans. Many mortgage banks have a formal, ongoing, staff training program. Loan officers here will most likely be working on commission with monthly quotas to meet, which might mean a high pressure sales environment. Examine the Good Faith Estimate carefully. Watch for creative fees. Watch for steering into controlled business arrangements. For example the mortgage bank might also own a companion escrow company. You will be steered there for closing. They must disclose their affiliation with the escrow company on a prescribed form.
How to help yourself
Test out their service ahead of time: Get the phone number of the processing center and call them in the presence of your loan officer, especially if the bank is running a national promotion. Do the same thing with their loan servicing department. Find out how long the loan officer has been with the bank and the number of loans he or she has originated. Why let a loan officer practice on you? If your transaction is falling apart, go directly to the manager. Ask the loan officer to sign the Good Faith Estimate and guarantee the quoted fees. Do not let the loan officer quote anything less than 15 days interim interest unless he or she is willing to guarantee, in writing, that your loan will close during the last 15 days of the month. Finally, ask your loan officer the following questions: “How are you paid?” and “Can you point to the lines on the Good Faith Estimate and tell me which fees go into your pocket and which fees go to another person?” “Are your fees negotiable based on the level of care and service I receive from you?”
Little known fact for consumers: Most all banks and mortgage bankers also have a wholesale lending department. This means a mortgage broker might be able to get you a better rate. Why do banks do this? Simple: more profits.
Important fact: Banks do not have to disclose the yield (profit) they make on your loan. (Link opens a PDF.)
A yield spread premium is a cash rebate paid to the bank based on selling you an interest rate above the wholesale interest rate. Banks bundle their loans into pools and sell them into the secondary market after the close of escrow and federal disclosure rules found in RESPA do not apply to secondary market activities. For example, if a mortgage banker offers a borrower a loan of $400,000 at an interest rate of 7.25%, and the going rate is 7%, the bank may earn a Yield Spread Premium (YSP) equal to 1.0% of the loan amount. This $4,000.00 fee is paid by the lender directly to the bank as a rebate. None of this is disclosed to the consumer when your loan is originated with a bank. Now pool that loan together with several hundred other loans and that’s a nice profit. Maybe banks need the profits so they can hand out those business-casual polo shirts with the bank logo now sported by front line bank employees. No, I bet they make the employees pay for them. Let’s get real; Banks need the profits in order to pay their government lobbyists.
In part two, we’ll take a look at mortgage brokers and correspondent lenders.
In part three, we examine consumer loan lenders.
Part four will cover credit unions.
Friday’s Rates on a Saturday June 16, 2007
I’m sorry for posting rates a day late. Since I also have Friday’s rates at Mortgage Porter, I’ve been trying to post rates a bit later in the day at RCG in case we have significant price changes during that day. Yesterday, however, got away from me and sometimes other things, such as business, has to come before blogging. The good news is, these rates will not change until Monday morning! Your Mortgage Professional may or may not be able to lock rates on a weekend or after hours…some do and some don’t…lucky for me, I can!
Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties). Conforming rate quote below based on owner occupied with minimum credit scores of 680 with an 80% loan to value or lower. Rates quoted are priced based on a 45 day lock with 1 point and there are no prepayment penalties on any of the rates quoted below.
30 Year Fixed: 6.500% (APR 6.648%). Payment per $1000 = $6.32
30 Year Fixed with 10 Year Interest Only: 6.625% (APR 6.775%). Payment per $1000 = $5.52
40 Year Fixed: 6.625% (APR 6.775%). Payment per $1000 = $5.94
7/1 ARM: 6.250%% (APR 6.392%). Payment per $1000 = $6.16
5/1 ARM: 6.000% (APR 6.144%). Payment per $1000 = $6.00
5/1 ARM with 10 Year Interest Only: 6.125% (APR 6.270%). Payment per $1000 = $5.10
JUMBO (Non-Conforming) Rates. Pricing is based on the same criteria above, with the exception that the loan amount is $417,001-$650,000 (20% down).
30 Year Fixed: 6.625% (APR 6.779%). Payment per $1000 = $6.40
30 Year Fixed with interest only payments: 6.625% (APR 6.779% ). Payment per $1000 = $5.52
40 Year Fixed: 6.625% (APR 6.779 %). Payment per $1000 = $5.94
5/1 ARM: 6.125% (APR 6.274%%). Payment per $1000 = $6.08
5/1 ARM with 10 Year interest only payments: 6.125% (APR 6.274%). Payment per $1000 = $5.10
Please do not select your Mortgage Professional by interest rates alone and do not shop rates by APR. This is just a small sample available of rates and products. For a specific strategy for your mortgage needs, contact a Mortgage Professional.
Sphere: Related ContentThe Client is Never Always Right June 15, 2007
I quickly pass through the part where the customer is right, and go straight to where the client is wrong. In a real estate transaction, it is the real estate agent’s job to make sure that the client is focusing correctly and in the right direction at ALL times.
Some of this takes place while looking at property for a buyer and getting the house ready for market for a seller. But the focusing process never stops. It continues through the lending process, the inspection process and the escrow process.
Why is this? Because “informed consent” and “meeting of the minds” requires the agent to be absolutely positive that the client is FULLY informed every single step of the way, and reaches a “meeting of the minds” having been fully informed. Beyond informing, I have to know that the client also “gets it”. When the client just can’t “get it” then they have to trust me to “get it” for them, and trust me enough to follow my advices. I prefer the former, but many times the client prefers the latter :) Sometimes they stop me and say, “Ardell, I’m never going to “get it” the way you do, so just tell me what to do in this situation. I trust your opinion.” It’s tough on me when it boils down to that, and for me that is the difference between full service…full commission and limited service and “discounted” commission.
It’s not about hours or services, it’s about the level of care and advice needed, which differs from one person to the next.
We talk very little about the realities of an “agent” vs. a “salesman”. People throw the word “fiduciary” around like it’s some commonplace term that everyone “gets”, when the enormity of its meaning is almost impossible to define in words. The very meaning of the word fiduciary suggests that the client can’t always be right. If they were always right, they wouldn’t need a fiduciary.
“fiduciary
n. from the Latin fiducia, meaning “trust,” a person…who has the power and obligation to act for another…under circumstances which require total trust, good faith and honesty. The most common is a trustee of a trust, but fiduciaries can include…attorneys,…real estate agents,…or anyone who undertakes to assist someone who places complete confidence and trust in that person or company. Characteristically, the fiduciary has greater knowledge and expertise about the matters being handled. A fiduciary is held to a standard of conduct and trust above that of a…casual business person. He/she/it must avoid “self-dealing” or “conflicts of interests” in which the potential benefit to the fiduciary is in conflict with what is best for the person who trusts him/her/it. For example, a (fiduciary) must consider the best (result)…for the client and not (act) on the basis of what brings him/her the highest commission. While a fiduciary and the beneficiary may join together in a business venture or a purchase of property, the best interest of the beneficiary must be primary, and absolute candor is required of the fiduciary.”
A CUSTOMER can always be right, but a Client can’t. I have had a few customers from time to time, and the charge for my services to them is a fraction of the charge for clients. By looking for where the potential client is wrong, I can both determine my fee and evaluate their needs at the same time.
I’m kind of talking to myself here (if you haven’t guessed that already) because I am still dumbfounded that I have landed in a State that does not require that a real estate agent be a Fiduciary. Is there any other State that doesn’t require an agent to be a Fiduciary? On the one hand I like it, because clearly the number of people with real estate licenses exceeds the number with the capacity to be a fiduciary.
Russ Cofano and I go back and forth on this from time to time. Of course he is right. I am only one person, and the laws and methods of common practice have to be more practical and resign themselves to the fact that fiduciary standards don’t match the realities of the marketplace. But where does that leave me? A fish out of water…again. I find myself in that place all too often in life. It’s not a comfortable place to be.
Lucky for me, most of my clients need a fiduciary. Those that don’t, usually don’t seek me out. Some that needed a fiduciary for their first purchase or sale, sometimes shift to “customer” for subsequent purchases and sales.
So I re-joined the National Association of Realtors. Many have been waiting for my explanation of why I have once again become a “REALTOR® member”. Well, there it is. If being one requires me once again to act in a Fiduciary capacity, then I must. Because I just don’t know how to be something lesser than that. Nor am I willing to look at myself in the mirror if I am forced to be lesser than that. Not saying every member “gets it”, but at least I can resign myself to being who I’m supposed to be…I think.
I am writing this now because I am at that place today where my best advice may be for my client to walk away from this purchase. Sometimes that’s an easy stance for me to take. Today it is a most difficult one. Today it is where push comes to shove for me to be a fiduciary…and not a salesman. It is not always an easy decision, and it is when I am most tested that I truly wish I could just put my business first. But I just can’t. Thanks for letting me think out loud in your presence. I’m having an emotional day.
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