“I wasn’t planning on Buying Right Now”

“I wasn’t planning on Buying Right Now”




Mr. Petrowsky,


My parents have been recommending I speak to you about purchasing a home instead of paying rent, but have been avoiding the buying thing. I pay $1200 per month and they keep saying I’m throwing my money away. Most of my friends are doing the rent thing as well. OK, what advice would you give someone like me?


How many young adults think this way? A lot of them! I hear the same story over and over again. So many in this country think the same way so when given the opportunity to coach someone in this situation, I do my part to give the best possible advice and just maybe there will be a new homeowner in the near future.


What advice would you give her?


image courtesy of stuartmiles/freedigitalphotos.net

“Appraisal Challenges and the FSBO”

“Appraisal Challenges and the FSBO”

I could see it coming from the minute I spoke to the buyer. He shared that they were purchasing a home that was being offered directly from the seller. The property had been on the market for a couple of years. My immediate question was why was it on the market for so long? Usually the one main reason is price, (overpriced that is).


I took the mortgage application and knew the client would have no issues getting a mortgage. I asked him, what if the appraisal comes in below the purchase price. Even though he didn’t see that happening, I did. Sure enough that is exactly what happened. The appraised value came in $16,000 below the agreed upon price.


After a couple of weeks between buyer and seller conversations, they made an agreement. My client is paying $10,000 less for the property and coming up with $6,000 more toward the down payment.


I cringe when buyer and seller are not represented but that is what some do thinking they make out better but I never understand how. Two years on the market? How can that possibly be a smart move for any seller?


Image courtesy of stuartmiles/freedigitialphotos.net

“My Clients Get what they Need”

“My Clients Get what they Need”



How does the saying go, “You don’t always get what you want when you want it, but you always get what you need when you need it”.


Good morning Joe. I have been working with you and Ray in the past on a pre-qualification letter. I found a wonderful home in Coventry, but it’s a short sale and they would like to have a contract by the end of the month so time is of the essence. I know it’s the weekend before a holiday but if you could get me a new pre-qualification before Monday or Monday at the latest that would be a huge help. If you need any more information please feel free to email me back, in advance thank you. Have a wonderful Thanksgiving Matt.


When it comes to a purchase agreement responding to my clients quickly will make the difference between success and failure. Matt got his pre-qualification and his loan has been submitted. There is a very good chance that he will end up being the buyer since the short sale has already been approved.


I got a follow up call from the listing agent just to make sure that the client is qualified to purchase this property. That is one more first time home buyer that will soon be a homeowner.


Image courtesy of JScreationza/freedigitialphotos.net

“Banker Referral Partners, I Love Them”

“Banker Referral Partners, I Love Them”



I am very fortunate to work with a number of bankers that refer clients to me as I do for them. We each know what we do best, that is what makes it work so well.


I keep hearing about the real estate market slowing down in some areas, it may be true but I am not willing to let the market or the economy dictate my yearly income.


Never be afraid to give business to others even when they may be in the same or similar business. I got this referral his morning:


Good evening Henry,


                Thank you for taking the time today to meet with Ted and I. Per our conversation I have CC’d Joe Petrowsky of Right Trac Financial to this email to assist you in tapping into the equity of your home.




“Insurance Agents as Referral Partners”

“Insurance Agents as Referral Partners”

As many know, I refer a lot of business out. One category I refer out to often is insurance agents. Through the end of October I was at just over 10 per month. My goal was 120 for the year so, I’m right on track.


Some insurance agents have the same philosophy; they just focus on referring business to me on a regular basis. That is the case here:


I know that I haven’t provided you with business cards in a while, but I have new ones and a new information sheet that you can provide your clients. I am going to put it in the mail to you tomorrow morning. I am also referring over two new clients, one is purchasing they need to be pre-qualified and the other is a refinance. I hope you like them.

“It is Always Humbling to Receive on this Level”

“It is Always Humbling to Receive on this Level”



Peter worked for me for a number of years until he made a career change. We continue to send each other business and it was a pleasure to handle a mortgage for him a couple of months ago. He shared this recommendation on Linkedin:


Hi Joe,


I wrote this recommendation of your work that you can include on your profile.






“I wanted to take some time and recommend Joe Petrowsky for anyone out there thinking of doing anything when it relates to the word mortgage. I have had the pleasure of working with and for Joe and as I changed careers, I recently utilized Joe for the purchase of my dream home for my family in October of 2015. After doing hundreds of mortgage transactions as a broker, real estate investor and homeowner, I can without a doubt in my mind, say with 100% confidence, there is no one, and I mean no one, who knows this business better than Joe Petrowsky.


He cares about you as the client and knows that it’s just not about the rate and costs and bla, bla, bla. When I was going to purchase my home, I see my kids running in the yard, coming home, walking into the living room, watching games with my family, holidays etc. Its more than just getting a mortgage and Joe understands the real emotions involved when it comes to purchasing a home or getting that refinance completed. Do yourself a favor and give the man a call, you will not regret it.”


Image courtesy of Pakorn/freedigialphotos.net

“Why Keep Talking About Raising Rates?”

“Why Keep Talking About Raising Rates?”

The Fed decision makers have been talking about raising interest rates for a long time; stop all this madness and just raise the damn rate already. If a quarter of a percent interest is going to be an end to our economy, so be it. The truth is it won’t even be a blip on the radar when it comes to mortgages.


Let me tell you where the real impact is going to be, it is interest that we pay on the 19 plus trillion dollars that we owe on our National debt. Since the new budget deal was passed there will be little reason not to increase rates.


Back to mortgages, the anticipation of an increase in rates has already been factored into mortgage rates at this point. There will be some movement, but not enough to deter anyone from buying a home or refinancing.


What do you think the Fed is going to do next month?


Image courtesy of stuartmiles/freedigitalphotos.net


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