Fannie Mae isn’t sure that housing is out of the woods….and lets be 100% honest…FANNIE MAE would know. Remember, almost 100% of ALL new mortgages are backed by Fannie or Freddie. Why is Fannie Mae concerned that housing may not have hit bottom..and more depreciation could happen? Simple, 19,000,000 (according to our friends at Zillow) underwater mortgages. Realistically we will bump along the ‘bottom’ for years. 3-5 years at least. Until homes regain their value (inflation) the 10s of millions of underwater homes simply won’t allow for a true housing recovery. Consider this number: 20%. For an owner to be […] Click Here To View More
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Find out what the most up-to-date trends are in the rental industry, so you can better design and market your apartments to fit renters’ needs. Click Here To View More
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Further proof that the real estate recovery is going to run hot and cold is a new report by the National Association of Home Builders shows that Home-builder optimism slipped in April, The index dropped for the first time in seven months to a seasonally adjusted reading of 25, down from 28 in March and February. The scale runs from 0 to 100, and any reading under 50 indicates that builders with a negative outlook on the market outnumber those with a positive one. WARNING: Short Sales…love em or hate em…they are here to stay! Go beyond the basic ‘expert’ short sale […] Click Here To View More
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Every REALTOR needs to read this…. WASHINGTON, DC, Oct 25, 2011 (MARKETWIRE via COMTEX) — America needs strong housing policies that ensure a robust recovery and do not further weaken the nation’s housing market. That was one of several recommendations resulting from the bipartisan New Solutions for America’s Housing Crisis forum on October 4 and endorsed by the National Association of Realtors(R). The forum was hosted by the Progressive Policy Institute and Economic Policies for the 21st Century and brought together policy leaders, industry representatives, members of Congress, thought leaders and the media. In a letter sent today to Congress […] Click Here To View More
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Will HARP 2.0 work? Watch this video and you tell me… …few things to consider: 1) There are 11,000,000 underwater owners in the US. (and growing). Estimates are that HARP 2.0 can only ‘help’ 10% of those underwater owners…big reason, the owner must be current on their mortgage. If you are late, don’t apply. Of the estimated 11 million underwater owners nearly half are already behind on their payments, in default. 2) HARP 2.0 has nothing to do with homes already foreclosed. There are millions of homes readying to become REO listings over the next 12-24 months. Millions of homes […] Click Here To View More
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Tim and Julie Harris Students (and future students) share this video on your blog…on Facebook etc. Great (basic) tips for home buyers who are considering purchasing a REO. (REO= Real Estate Owned) Not discussed in this video is the fact that if the property needs a bunch of work the bank won’t approve the loan. This is especially true if the mortgage is a FHA insured loan. When the home is being appraised the appraiser will note any non FHA compliant items. Those non compliant issues will need to be fixed before the loan is approved. Keep in mind that […] Click Here To View More
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These are great times for some owners…good times for others…and for the millions of underwater owners their housing mess is getting worse. Homeowners who aren’t underwater (and can meet the rapidly tightening lending standards)…there has never been a better time to refinance their mortgage. More and more Americans are embracing the goal of paying their home off as fast as possible. If the American Dream was owning your own home…the new American Dream is OWNING your own home…as in not having a mortgage. Our country is divided into several distinct groups of homeowners: * The Great: Homeowners (with no mortgage) * The […] Click Here To View More
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Are gas prices effecting home values? According to a recent poll 75% of the REALTORS (r) responded…YES, gas prices have a direct effect on home prices. Homes that are further from city centers (where people work) are falling faster in price than those close in. There has been a housing trend towards closer in, cluster type housing. Are you experiencing this shift in your real estate market…are gas prices adversely effecting home values? STOP and READ NOW: What do to the top 7439 REO Listing Agents in the US know that you don’t? Watch the FREE Agent REO Secrets video […] Click Here To View More
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Getting a mortgage can be daunting, especially when there’s a lot of your hard-earned money at stake. It’s critical to spend a few hours researching how […] Click Here To View More
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National Association of Realtors March Home Sales Data. Headline: National Association of Realtors: “Existing-home sales have risen in six of the past eight months, so we’re clearly on a recovery path,” The numbers: * Existing-home sales increased 3.7% from a month earlier to a seasonally adjusted annual rate of 5.10 million. * About 40% of existing homes bought last month were distressed properties–including foreclosures and short sales. That was the highest percentage since April 2009. * The median sales price for an existing home was $159,600, down 5.9% from the year-ago median price of $169,600. * Meanwhile, the inventory of […] Click Here To View More
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Agents, read this ASAP….we have very special Superstar interview for you this week.. Listen NOW to the replay! ….Chris Heller..Top Producing agent and President of Keller/ Williams International…is this weeks Tim and Julie Harris Superstar. I know you will want to listen NOW to this free real estate training event. ****** CLICK THIS LINK NOW… http://InstantTeleseminar.com/?eventid=18450840 ****** Chris Heller interview Questions: * Where do you sell real estate? * How long have you sold real estate? * What did you do before you decided to be a Realtor? Listen NOW to the replay! * Tell us about your market? * […] Click Here To View More
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Agents, this is perhaps the most important…and most under-reported….real estate story, ever. Think I am being too dramatic? Consider this: The National Association of Realtors created an excellent video explaining the ramifications of the new QRM rule. Watch that video now. Here is the bottom line, 20% down is going to become the new normal. Watch this CNBC video…pay very close attention the ending few seconds when the presenter is talking about the fear that the QRW rule will spread to ALL mortgages. Agents, you must be aware of the changes that are happening now that will dramatically effect our […] Click Here To View More
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A glimmer of hope from the just released National Association of Realtors Home sales data? The number of pending home sales…homes not closed but, in contract…ticked up for February. But, even the NAR is being cautiously optimistic about this new data. Biggest increase was with ‘distressed properties’…short sales and REOs. No surprise there. I have a question for you…are you finally ready to become a REO listing agent? Watch the FREE Agent REO and BPO Secrets video and download the FREE REO and BPO training guide. Click Here To View More
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Tim and Julie Harris FREE Real Estate Training Event. Topic: 10 Ways To Make Money Now. I am sure you will agree that never has there been a better time to focus on making money NOW. Join Tim and Julie Harris for this real estate training event. Here is the information you need to attend this event: EVENT: Super Star Interview Topic: 10 Ways To Make Money Now! DATE & TIME: Friday, March 25th at 9:00am Pacific FORMAT: Simulcast! (Attend via Phone or Webcast — it’s your choice) TO INSTANT TELESEMINAR, CLICK THIS LINK NOW… http://InstantTeleseminar.com/?eventid=18450777 10 Ways To Make […] Click Here To View More
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Agents, in this market you must know how to do more than just…listing and selling real estate. To truly be of service to home owners you now must know how to help them avoid foreclosure…and foreclosure scams. Be aware of of the types of predators that are approaching you communities homeowners. Here is another great video from Freddie Mac. Again, post this video on your blog…on Facebook…Tweet it…get the word out. Freddie Mac Foreclosure Myths Myth 4: I am getting many offers for help from a variety of people. They are probably all scams. Truth 4: Scam artists often target […] Click Here To View More
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I have to be 100% honest with you… ..I am really sick and tired of real estate bad news. This CNBC Video is…100% Real Estate bad news. I am SO looking forward to this never ending real estate crash to be over. Did you know we have been living through this ‘correction’ for 6 YEARS! Seriously, enough is enough. What will cause all of this to end? Here are the options: 1) Let the market self correct, do nothing. In other words, no more governmental intervention. This is exactly what is starting to happen now. The various foreclosure prevention programs […] Click Here To View More
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Breaking Real Estate News: * Housing starts nose dive by 22%. That is the second lowest housing starts report ever. This should be absolutely no surprise to anyone. As long as REOs (and Short Sales) are priced more competitively new construction will continue to drag. * Mortgage Applications Decline. Perhaps more troubling new purchase apps for mortgages and re-fis surprisingly drop. Why is this a surprise? We are entering into what should be the ‘spring selling season’. Fewer apps for new mortgages means…fewer buyers interesting in buying. Click Here To View More
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Today’s guest post is from Economist Jeff Nielson. I read Jeff’s blog daily…and so should you. I like the fact that Jeff tell the truth…and takes no prisoners. Its clear that the US housing markets are still in a state of flux. The Obama administrations ambitious ‘save housing, prevent foreclosure’ programs have been largely written off as failures. Homeowers who are holding on by their fingertips are now letting go. There will never be any sort of bail out for underwater owners. Fact is, in most of the US homeowners who are underwater will remain underwater for over a decade. […] Click Here To View More
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As Bank of America continues to enhance the short sale process, real estate agents will notice changes when initiating a transaction in Equator, beginning March 11. What Is Changing: New fields will be required when initiating short sales in Equator. Agents should be prepared to provide the following information regarding the loan and the homeowner’s situation: Loan Number New: Borrower First Name Borrower Last Name New: Property Best Contact Telephone Reason for Default New: Do you have a signed purchase contract? New: What is the property’s primary purpose? New: Who currently occupies the property? New: When was the property last […] Click Here To View More
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I have two very important questions for you… ..are you ready to list Bank of America REOs…think you missed the boat and the best REO listing opportunities are behind us? Think again… Following are a few quotes and comments from various sources..I will attempt to translate the banker-speak. Bank of America, the biggest U.S. lender by assets, is segregating almost half its 13.9 million mortgages into a “bad” bank comprised of its riskiest and worst-performing “legacy” loans, said Terry Laughlin, who is running the new unit. Translated: BoA has nearly 14,000,000 mortgages. Of those 14 million mortgages…Bank of America projects […] Click Here To View More
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