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					2nd Home Specialist - Helping Realtors who Specialize in 2nd Homes                                                 Page 1 of 4

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   Wealth Building Workshops
   Inspring 10 Million Customers
   by Wells Fargo

       T'S CERTAINLY a different housing market than it was a few years ago. Many real

   I   estate agents are having difficulty getting buyers off the sidelines and into decision-
       making mode. Inventories of new and existing homes are up markedly, and sellers
   of all stripes are getting creative to help their property move. For most agents, it’s a far
   cry from the market they were in just over a year ago.

   While many agents are facing challenges as it relates to the selling of primary
   residences, those specializing in second homes or investment properties haven’t
   necessarily experienced the dramatic market shift that some of their colleagues have.
   Baby Boomers, many of whom have been the beneficiaries of one of the greatest
   intergenerational transfers of wealth, have continued to fuel the second home real
   estate market. With the National Association of REALTORS® (NAR) estimating that
   40 percent of 2005 home sales were for second homes or investment property, an
   abundance of opportunities for real estate and mortgage professionals exist.

   Its because of those opportunities that Wells Fargo Home Mortgage has begun to target
   those prospective second home buyers through The Great American Homeowner
   Challenge C a three-year effort by Wells Fargo to educate, enable and inspire 10 million
   consumers to purchase their first home, second home or investment property through
   2009. Wells Fargo is partnering with best-selling author and financial coach David
   Bach, whose latest book, The Automatic Millionaire Homeowner, is the foundation for
   The Challenge.

   Our goal in reaching out to existing homeowners is to demonstrate the true wealth-
   building power of real estate, says Joe Rogers, executive vice president of product
   development for Wells Fargo Home Mortgage. They understand the importance of
   owning their primary residence, but helping them see the financial and personal
   rewards of a second home really helps them take the next step to build a more solid
   financial future.

   To reach out to these prospective buyers, Wells Fargo Home Mortgage branches
   throughout the country hosted Wealth Building workshops throughout 2006. These
   workshops allowed Wells Fargo’s home mortgage consultants, real estate professionals
   and other referral sources to identify homeowners they’d consulted in the past and
   guide them through the rationale and logistics of a second-home purchase.

http://www.2ndhomespecialist.com/articles/spring07/wealth.php                                                           3/2/2007
2nd Home Specialist - Helping Realtors who Specialize in 2nd Homes                    Page 2 of 4

   Most of the concerns homeowners have about buying a second home center on the
   financial logistics that come with additional property. They want a better understanding
   of how to manage two mortgage payments and another set of home maintenance costs
   simultaneously, said Rogers.

   Structuring the financing of a second home or investment property isn’t necessarily
   complicated, but depending on their financial portfolio and their personal choices,
   consumers have a multitude of factors to consider when determining which options are
   the best for them.

   Because of the myriad of questions and considerations that go into the purchasing
   decision, its important to have a variety of professionals available to guide buyers
   through the process, said Rogers. A mortgage consultant is a valuable piece of the
   puzzle, but isn’t the only expert that should be consulted.

   That’s why Wealth Building workshops rely on the expertise of a variety of referral
   sources. Wells Fargo mortgage consultants typically work with Realtors®, attorneys,
   accountants and financial consultants when putting together workshops in their local
   markets. As there are different legal and tax implications for every purchase and
   financing strategy, having these experts available to help consumers is an invaluable
   part of the workshops success.

   In addition to being an excellent way for these experts to strengthen existing client
   relationships, it’s a solid way to develop new potential contacts. For example, an
   attorney involved with a workshop is able to invite his clients who have expressed an
   interest in purchasing a second home, but may not yet know a real estate agent who has
   experience working with these types of buyers. Through the networking and referral
   opportunities during and after the workshop, consumers are able to help identify the
   various professionals they’ll need to consult, and contact those who can assist them.

   As part of its sustained commitment to The Challenge™, Wells Fargo is continuing to
   host Invest in Real Estate Wealth-Building Workshops through 2007, which means that
   mortgage consultants around the country will be looking for local experts to help
   provide information to consumers. If you are a real estate professional looking to build
   your business in the second home/investment arena or simply want to help your clients
   make a decision to buy, teaming up with Wells Fargo to hold one of these workshops
   could be part of your business development plan.

   Call your local Wells Fargo Home Mortgage consultant today, or log on to
   www.wellsfargo.com/mortgage to find the mortgage location and professionals near

   Wells Fargo has also prepared multiple comprehensive guides on home buying. Your
   Vacation Home Buying Guide and Your Investment Property Buying Guide are among

   To get free, downloadable guides, direct your clients to log on to

http://www.2ndhomespecialist.com/articles/spring07/wealth.php                             3/2/2007
2nd Home Specialist - Helping Realtors who Specialize in 2nd Homes                     Page 3 of 4


   The Automatic Millionaire Homeowner
   A Powerful Plan to Finish Rich in Real Estate
   Published in 2005 by Broadway Books
   Available in paperback $19.95
   Review by Ellen Newbury

   Let’s say you would like to be a millionaire. So you think: I have to figure out how to
   make a lot of money; I have to be very driven; I have to become a full time student
   regarding money matters; I have to completely devote a tremendous amount of time to
   this endeavor.

   Right? Wrong. None of the above is necessarily true, and that is what makes The
   Automatic Millionaire Homeowner so amazing. In response to some of the millions of
   readers of the national best selling author of titles like Smart Women Finish Rich,
   Smart Couples Finish Rich, and The Finish Rich Workbook, David Bach comes to the
   rescue once again. My mission for The Automatic Millionaire Homeowner is to inspire
   one-hundred million people around world to become free financially so they can live
   and finish rich, says Bach. The key to this success? Real Estate.

   So important is this mission that Wells Fargo Home Mortgage partnered with Bach by
   becoming the founding sponsor for The Great American Homeowner Challenge™.
   Simply put, this collaboration, is a national financial literacy campaign. The key to this
   challenge is to educate and inspire people to purchase their first home, second home
   and investment property, says Bach.

   Wells Fargo kicked off The Challenge in the Spring of 2005 with a 14 city tour which
   aimed to inspire, educate and empower people to make smart decisions when it comes
   to real estate and financing. Both Bach and Wells Fargo have demonstrated the
   commitment to the vision of homeownership for millions of Americans, whether it is a
   first, second, or even third home.

   Real Estate Professionals help clients purchase their dream homes everyday. First
   home, second home, third home... whatever the dream, Realtors® are there to see the
   client through every step of the buying process. So what about these millions of
   Americans that Bach and Wells Fargo are inspiring to become involved in real estate
   markets? Well, when these millions of Americans become more educated on the ins
   and outs of buying and owning real estate, they’ll most likely be ready to take the
   plunge... and to do that, they’re going to need Realtors® like you.

   As a Realtor® you already understand the financial power of real estate. The Automatic
   Millionaire Homeowner will help you reveal to your clients what Bach calls, the single
   most import financial decision of a lifetime... to buy a house, this is the single most
   important investment...One home is good, two homes is better, says Bach.

http://www.2ndhomespecialist.com/articles/spring07/wealth.php                            3/2/2007
2nd Home Specialist - Helping Realtors who Specialize in 2nd Homes                    Page 4 of 4

   If your work involves the real estate market than you already know how important a
   real estate portfolio is in terms of financial success. With this program you’ll learn how
   to help turn your clients into more educated and empowered buyers. Let The Automatic
   Millionaire Homeowner and the Wells Fargo Homeowner Challenge help boost your
   business. And remember, you’re not just selling a home, your selling a dream. Homes
   are where dreams are made. Some of the best lifetime family memories are made in
   second homes. This is about making dreams come true, says Bach.

   For more information about this book and others by David Bach visit

   For more information on The Great American Homeowner Challenge™ visit

                                       364 Railroad Street, Suite 4,
                                     St. Johnsbury, Vermont 05819
                                  Fax 802-748-0435 Call 866-633-2882
                                   Outside the US Call 802-748-5883

http://www.2ndhomespecialist.com/articles/spring07/wealth.php                           3/2/2007

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