Video 79: If you sell your house via a short sale will you owe money or are you covered under Arizona anti-deficiency laws? This is a very important subject that any agent who is even considering doing short sales should understand. You are not by default protected. Kevin Hardin of Thomson Conant Law Office in Phoenix answers that question for us. Would love to hear your thoughts, you can leave a comment or e-mail me Dean Ouellette.
I did a video, which I have now deleted, that said I was unsatisfied with Great American Title because they made a client of mine pre-pay a tax lien they missed before they would pay him back. I stated I thought that was a BS way to work insurance. Great American Title agrees and after talking to my client to reverify it has been cleared up and it was Guarantee Title, NOT Great American Title that has the policy. This was a mistake on my part and an unacceptable mistake. I owe an apology to Great American Title, I am sorry.
1) Loan Modifications With Principal Cuts Attract Lenders Attention – Lenders are starting to look at loan modifications with a principle balance reduction as realistic alternatives, and they need to if they expect them to work. I personally predict that some form of principle reduction with a home equity fractional interest where the buyer needs to repay a portion of the reduction upon sale is most likely coming.
2) Foreclosures: Challenges FHA Buyers Face When Making Offers – It is true that FHA home buyers have a hard time competing with cash and conventional offers, but who can blame the seller? Much less likely a conventional or cash deal will fall through.
3) Conquering Your Fear When The Phone Rings – While this post is done from the point of view of an investor, it is relevant to anyone who is new to a business like real estate.
4) One Simple Strategy You Can Implement Immediately for More Referrals – The advice in this post is so true. When I first put up my site I had so much junk on there like everything about local schools and parks etc. Then my analytics showed me no one was going to those things.
5) 10 Cities For Home Bargains – Is your city among the best for bargains for home shopping? (Good blog material if so).
6) The People Have Spoken!… but are we listening? – People want more from agents, who is going to give it to them?
7) Is Your House Over-Priced? The Rule of Tens – A couple of basic rules for home sellers on figuring out if your house is overpriced.
8) Short Sale “Twists and Tail Spins”: Be Aware ! – I question this practice greatly! The bank is not a party to the real estate transaction and should be a RESPA violation for dictating terms. All they should be allowed to do is approve or deny the final transaction based on the HUD-1 number.
9) Here Come The 1099-Cs Turning YOUR Short Sale Into A Big Headache – Get ready for that 1099-c. I actually did a video with a local law firm on the short sale and 1099 issue yesterday.
10) FHA Cracks Down on Dubious Lenders – I heard about this yesterday while at lunch with a lender, they actually had a friend who got visited. Fun times!
Video 78: If you allow your house to go to foreclosure can the bank who had that loan come after you for any of their loses? Kevin Hardin of Thomson Conant Law Office in Phoenix answers that question for us. Would love to hear your thoughts, you can leave a comment or e-mail me Dean Ouellette.
Video 77: If you allow your house to go to foreclosure or chose to sell via a short sale will there be any taxes you need to pay? Kevin Hardin of Thomson Conant Law Office in Phoenix answers that question for us. Would love to hear your thoughts, you can leave a comment or e-mail me Dean Ouellette.
1) Changed Circumstance: When a Good Faith Estimate CAN be Re-Issued – Rhonda Porter is considered one of the top lenders online and a go to resource for many topics. Porter has probably been covering the new GFE more than anyone else.
2) Brokerage of the Future – Always a hot topic, what does the future of a real estate brokerage look like? Does an office really matter?
3) Open House Blitz In A Blog Kit – Prudential Gary Greene, Realtor Icon – Sunday, January 31st, 2010 – 2PM to 4PM. – Speaking of brokerages, this may not be a video 99.9% of readers care about because it has not effect on their lives, but this is a great idea of a broker thinking outside the box and using his blog and video to promote the idea.
4) Realtor.com Launches New iPhone App & Makes Mobile Home Search Useful – Realtor.com launches new iPhone App for home searching, now where is our Android version?
5) How to get Lowe’s to pay ALL your direct mail costs! – Now here is a program that every agent reading this list today should take part in today!.
6) Home Sellers Trending Toward Keeping Original Listing Price – Are sellers slower to lower their prices or just not as quick because it was the holiday season?
7) Marketing To The Expired Listing Property Owner – A completely different way at looking how to go after expired listings.
8) Foreclosure Rescue – What Are The Options – So what if you start falling behind on your mortgage? What are your options?
9) Should I get Three Competitive Market Analyses? – Jim Duncan talks about why you should.
10) Facebook: Use It, Love It, Leave It! – Another good look at how and why to be on and use Facebook.
Video 75: I have a short sale listing that seems to have found it’s way into the center of a scam on Craigslist. Someone found the owners name in the tax records, created a yahoo e-mail address with it and posted the property on Craigslist as a rental. A cheap rental too. The house would normally rent for between $1000-$1100 a month, but was listed for only $700. Everyone together now… if it sounds to good to be true…. The person who created the ad said they were out of country for a while and needed to rent it. Anyone who is asked to send money out of country should obviously know right away it is more than likely a scam. Two people who saw my short sale listing today contacted me, so they were smart enough to figure it out. Watch out for scams on Craigslist. Would love to hear your thoughts, you can leave a comment or e-mail me Dean Ouellette.
Video 75: Bank of America is known for their slow short sale approval time. One of the reasons is the negotiators are way overworked. Bank of America really needs to hire more short sale negotiators, but of course that costs money so here I help BoA with a money saving activity. Would love to hear your thoughts, you can leave a comment or e-mail me Dean Ouellette.
1) Knowing What You Now Know – So simple, yet so powerful. Try it and see. It is a 1:50 short video.
2) Announcing AgentApplause.com – The First “Enterprise” of Harmon Enterprises! – Stacey Harmon has a new website on marketing for real estate. That alone should be enough to get you to hit the RSS feed.
3) Honesty, Number One When Dealing with REALTOR – Part of the reason I do so many videos is because I feel it gives potential clients a look at who the real me is. @Raillife would comment here, that is exactly why I shouldn’t be doing them.
4) Shopping for a Mortgage Should Get Easier – Easier???!??!!?? Some times I wonder if people are paying attention to what is really going on? I agree you need to know the forms for your clients, but then you need to know the truth about the new GFE forms.
5) Part 2: 10 Essentials For Avoiding A Bad Real Estate Agent When Selling Your Home – Continuing the series on avoiding poor real estate agents.
6) Would You Recognize Signs of Subterranean Termites If You Saw Them? – Would you know a mudtube if you saw one?
7) NAR: membership down 7% – My first reaction was wow, only 7%?
8) Trulia’s January Price Reduction Report – New Year, New Lows $21.2 Billion Cut – If houses are not selling, that means they are cutting prices.
9) A Story Of Foreclosure – Not The Post You Dream Of Writing – A powerful story by one of our own. He should be applauded for sharing and his determination.
10) Getting Pre Qualified Is Not The Same As Getting Pre Approved – As a bu7er are you preapproved or prequalified? There is a big difference.
Video 74: Have you been waiting forever to get your Tempe Short Sale approved by the bank? The more short sales I do the more I realize that wait is unnecessary. After 30 days you should have a negotiator assigned and a completed BPO number. Two weeks from that the bank has all the information they need to approve or deny the short sale. At that point all it is, is a numbers game. If your short sale get’s to these milestones with no progress being made it is time you become a PITA and get the deal escalated. We will have more videos in the future on how to get your deal escalated. Would love to hear your thoughts, you can leave a comment or e-mail me Dean Ouellette.
