How's your business going?

[CJ1234]

We dropped off the edge of a cliff the second week in November.
Till then we were (knock on wood) busy. Now, four assignments for me and my husband in the last month. We are expeceting our first baby in late Feb, so we are very concerned.

I'd appreciate any feedback on how the MN market is going for you.

 

[Thern Newbell]

I am not in Minnesota, but it's always slow this time of year on account of the holidays. I would think things should pick up after the new year, but where I am at, it really doesn't pick up substantially until late winter and early spring. I feel for you, because it is quite challenging for both husband and wife to be in the same business. You are really at a risk for both to be in the same profession when things aren't going so well.

 

[CJ1234]

Thanks for the reply, Thern. We have been remarkably lucky and successful till recently. We work for a family firm, so all of our family eggs are in the same basket. I'm praying it is just a seasonal slow down, but looking at the last ten years, we have never experience anything close to this downturn.

We are looking to expand our client base, which is the one silver lining--now we have the time.

 

[tr05]

Thanks for the reply, Thern. We have been remarkably lucky and successful till recently. We work for a family firm, so all of our family eggs are in the same basket. I'm praying it is just a seasonal slow down, but looking at the last ten years, we have never experience anything close to this downturn.

We are looking to expand our client base, which is the one silver lining--now we have the time.

CJ,

Also consider the large jump in rates early this month. That slowed down the origination work significantly. Because this was a larger than typical jump in rates it will probably take a little longer for the market to accept this. I expect that there will be a pickup in around the second week of January. If not I can guarantee the third week will be busy because I am going on vacation.

 

[CJ1234]

CJ,

Also consider the large jump in rates early this month. That slowed down the origination work significantly. Because this was a larger than typical jump in rates it will probably take a little longer for the market to accept this. I expect that there will be a pickup in around the second week of January. If not I can guarantee the third week will be busy because I am going on vacation.

Isn't that always the case!?
Thank you.

 

[RSW]

I had a slowdown back in the early to mid part of the year. But, it has been very steady every since then. I am concerned about the rates going up. It could kill the refi. business if they go up over 5%.

 

[CJ1234]

I had a slowdown back in the early to mid part of the year. But, it has been very steady every since then. I am concerned about the rates going up. It could kill the refi. business if they go up over 5%.

I know. My fear as well. Which is crazy, because 5% is still an outstanding rate...but will likely kill refi work.