This year’s home-buying season looks nothing like last year’s. With mortgage rates and home prices rising, the best deals are long gone. Furthermore, there are fewer homes for sale now than one year ago. To what lengths will desperate house hunters go to snag the house of their dreams, and what are they most worried about? […] Click Here To View More
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Tim and Julie Harris Daily Motivational Message. Listen in as Tim and Julie Harris share ways for top agents around the world to stay motivated everyday. QUESTION: Why do 3% of the agents make 97% of the money? Answer: They are making money NOW doing REOs and BPOs. Why aren’t you? Watch the FREE Agent REO Secrets video and grab the NEW FREE REO/ BPO Book. NOTICE: Free book guaranteed for the first 100 agents only. Click Here To View More
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More positive signs for housing… Just released S&P Case Shiller Home Price Index indicates that housing is continuing its slow rise out of the depths of the housing crash…17 out of 20 housing markets that Case Shiller tracks improved. Some markets like Phoenix Arizona improved in a big way with DOUBLE digit price increases! Keep in mind, that there are still 12-16,000,000 owners still underwater. At best, we are in the beginning stages of this housing recovery. Agents have realistic expectations and focus on serving 100% of the market…traditional equity sellers, short sale sellers, bank owned properties and property management. […] Click Here To View More
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Imagine this scenario … A home buyer is driving around a neighborhood, scoping out potential homes. (Not so hard to imagine, is it?) They stop by […] Click Here To View More
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As Tim and Julie Harris first reported late last year Bank of America is expanding a program that began in Florida, Bank of America plans to entice more distressed homeowners across the county to sell houses in short sales by offering up to $30,000 in relocation money. “Bank of America is committed to providing alternatives to foreclosure whenever possible,” Bob Hora, home transition services executive for Bank of America, said in the press release. “This program can help customers make a planned transition from ownership when home retention options have been exhausted or they have made a decision not to keep […] Click Here To View More
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As the real estate market starts to heat up again in some markets, we sometimes forget what’s happened in the past. We get caught up in […] Click Here To View More
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Should ‘responsible homeowners’ be bailed out? Or maybe a better question is….what exactly is a ‘responsible homeowner?’ Watch this video and share your thoughts… Urgent Short Sale Notice: Must attend Short Sale industry update. New fast close, direct assignment short sales. Learn how to become a Lender Preferred Short Sale Agent. Grab your spot for the FREE Short Sale Industry Update Training Event. Warning: Limited space available for this industry wide event. Register now! Click Here To View More
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It’s just part of the rental business: Many types of situations arise that can cause a tenant to refuse to vacate your property. As with all […] Click Here To View More
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Tim and Julie Harris has 100s of students in and around the Atlanta area…this video is a very accurate representation of what is happening now in Atlanta. Bottom line: Short Sales dominate the market and the upper end sellers are embracing short sales. Did you know that HREU offers short sale training specifically focused on upper end, luxury home owners? Read more about the HREU Lender Preferred Luxury Distressed Property Designation. Urgent Short Sale Notice: Must attend Short Sale industry update. New fast close, direct assignment short sales. Learn how to become a Lender Preferred Short Sale Agent. Grab your spot for […] Click Here To View More
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Edward DeMarco, director of the Federal Housing Finance Agency (FHFA) indicated a willingness to reduce mortgage principal for some borrowers but stopped short of endorsing a plan that would attempt to do that. The White House, along with some lawmakers and housing advocates, has tried to persuade DeMarco to allow Fannie and Freddie to write down loans to help out homeowners who owe far more than their homes are worth. The Treasury Department has proposed an expansion of the incentives for reducing mortgage principal that are now offered under the Home Affordable Modification Program (HAMP). (The FHFA estimates of the […] Click Here To View More
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HARRIS REAL ESTATE UNIVERSITY Students (and future students) the REO surge is happening now…get ready. HREU is expecting the increase in BPO orders and REO assignments over the next 90-120 days to be significantly larger than anything our industry has yet experienced….yes, MUCH bigger than even 2008! Here are a few factoids from Palm Beach… Lenders filed to foreclose on 1,502 Palm Beach County homeowners in March, a 65 percent increase from the same time last year and up 25 percent from February. The surge in new filings was called “dramatic” by Palm Beach County Clerk and Comptroller Sharon Bock, […] Click Here To View More
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Fannie Mae Preferred Contractors List. Fannie Mae routinely adds SAM (preferred) contractors to its network. Each contractor goes through an extensive selection process and is chosen based on their ability to perform repairs on REO properties and assist Fannie Mae in reducing repair costs, increasing efficiencies and shortening the time it takes to complete repairs. Please review the list of SAM contractors linked below. We ask that you locate new vendors (highlighted in yellow on the attachment) servicing your area and call to introduce yourself, as well as familiarize yourself with their capabilities. You may begin using these new vendors […] Click Here To View More
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When will the banks FINALLY start releasing their REOs? Is NOW too soon? The foreclosure delays from 2010-2011 have come to an end. HARRIS REAL ESTATE UNIVERSITY expects May-June 2012 will see the REO inventories swell to levels not seen since 2008. This quote says it all… “We are right back where we were two years ago. I would put money on 2012 being a bigger year for foreclosures than 2010,” said Mark Seifert. In 2011, the “robo-signing” scandal, in which foreclosure documents were signed without properly reviewing individual cases, prompted banks to hold back on new foreclosures pending a settlement. […] Click Here To View More
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The Federal Reserve released the rules in a statement for banks to follow when converting their REOs to rental units. Converting foreclosed properties into rentals was a strategy advocated by Chairman Ben S. Bernanke in a study the Fed sent to Congress in January on proposals to aid the housing recovery. The statement is aimed at “reiterating that statutes and Federal Reserve regulations permit rental of residential properties acquired in foreclosure as part of an orderly disposition strategy,” the Fed said today in a release in Washington. STOP and READ NOW: What do to the top 7439 REO Listing Agents in the US know that you don’t?Watch the FREE […] Click Here To View More
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HARRIS REAL ESTATE UNIVERSITY 90 Day Massive Action Plan: Day 3. (Read the previous posts about this topic first…Day 1, Day 2) If you have determined that you are BEHIND THE CURVE this is your plan how to catch up: 1. Don’t panic, don’t throw in the towel, don’t give up, don’t have a breakdown or a meltdown. You DO have time to turn it around! 2. Make a commitment (a massive commitment) to working intensely for the next 90 days. If you do that, you’ll have a great 2009, but also a great 2010. You’ll have momentum. Here is […] Click Here To View More
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HARRIS REAL ESTATE UNIVERSITY Students (and future students) please be aware that the 2007 Mortgage Debt Forgiveness Act is set to expire at the end of this year! Share this urgent information with everyone you know. Especially your fence sitting owners who should do a short sale immediately so their closing happens this year…while the act is still in effect. Remember, 4 million Americans have already lost their homes to foreclosure, 6 million owners are currently delinquent and about 11 million homeowners owe more than their homes are worth. WARNING: Short Sales…love em or hate em…they are here to stay! […] Click Here To View More
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HARRIS REAL ESTATE UNIVERSITY Breaking News…. The Foreclosure Wave IS HERE. Expect a significant INCREASE In: BPO Orders, REO Listings and Short Sale Approvals. Foreclosure starts jumped 28% in January compared with December, although starts were down 11.5% from the same month in 2011, according to data firm Lender Processing Services. At the same time, foreclosure sales, or sales by banks of homes repossessed by lenders, jumped 29% in January. U.S. lenders had cut back on foreclosure after accusations of faulty foreclosure practices had surfaced in late 2010. QUESTION: Why do 1% of the agents make 99% of the money? Answer: […] Click Here To View More
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Remember the whole robo-signing fiasco that lead to state’s Attorney Generals filing suit against the nations largest lenders? Well, there is a proposed settlement on the table. Now the question is, who gets what? * 17 Billion for principal reduction. * 3 Billion for foreclosed borrowers who can prove some sort of fraud with their loan or foreclosure. * 850,000 borrowers will get a $20,000 Principal Reduction. Sounds good, right? Not so fast, 4,000,000 Already foreclosed, lost their homes. 6,000,000 In the foreclosure process (will lose their homes to foreclosure IF they don’t do a short sale.) 11,000,000 Now Underwater […] Click Here To View More
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HARRIS REAL ESTATE UNIVERSITY Students (and future students) share this video, tweet it. This video answers very common questions owners have about what to do with an underwater home. Remember, effectively 50% of ALL OWNERS with a mortgage are now underwater. Think about that…in most real estate markets every other home is underwater! Be the agent with the solution to help that owner avoid a foreclosure… WARNING: Short Sales…love em or hate em…they are here to stay! Go beyond the basic ‘expert’ short sale designation. Watch the FREE 2012 Agent Short Sale Secrets video and download the FREE Short Sale training […] Click Here To View More
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Obamas Refinance Proposal Details: * The owner is allowed to have only missed one payment in the past 6 months. That shouldn’t be too large of an obsticle for most owners to overcome……but…. * Owners who are underwater by more than 40% must get their lender to agree to forgive the negative equity. LENDERS must agree to do this. Lenders would have to get investors to agree to this forgiveness. * Mid 500s credit score. * No Jumbos. ‘Qualifying Loans’ only. Loans must be less than $725,000 (or there abouts). Remember, the max loan amount differs depending on where the […] Click Here To View More
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