Realtor Coaching & Training: Videos
Price cuts seem to be slowing down in some markets, which indicates the real estate market could well be stabilizing.
Video interview with Heather Fernandez, Truila.com, and CNBC’s Diana Olick.
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Watch out for this one…Principal Mortgage Balance Reductions.
We have watched this topic pop up now and then since 2007. Now, Barney Frank is seemingly championing the idea. In case you didn’t know it….Senator Frank doesn’t mess around. We suspect that Senator Frank is rolling this highly controversial topic out now to put the banks on notice that they sure as heck better abide by the new Treasury Departments HAFA Short Sale Program.
In case you have been living under a rock…2010 IS the Year of the Short Sale. Read this post now for more info on the simply stunning changes to short sales that are taking place 04/05/2010. YES…thats NEXT MONTH!
What does this mean to you?
Imagine a world where almost like magic…all the negative equity for every homeowner simply goes…’poof’. Gone, no more upside down homeowners. Does this sound like a great idea to you? Watch this video and share your comments.
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What will happen when the Fed pulls out the support for the mortgage markets..later this month?
That is one of the biggest ‘unknowns’ in the real estate industry.
Interesting points from this video:
* Home sales DOWN over 7%.
* Despite interest rates BELOW 5% demand is not increasing…why?
* Millions of homeowners are upside down and can’t move up…so interest rates don’t help those folks.
* Jumbo Loans are still VERY difficult to obtain. Lenders have to use their own money vs Fannie/ Freddie.
* Shadow inventory expected to hit the markets….5,000,000.
* Government programs are slowing the correction that must happen inorder for the housing market to completely ‘clear’.
Here is the video:
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Bloomberg News Video on the just released Case/ Shiller House Price Index:
His opinions:
* 2010 will see the housing bottom.
* May of 2009 was the actual bottom for housing.
* On balance sales are up!
* Wild card in his opinion….Lenders Shadow Inventory!
Agents, know this…its NOT TOO LATE for you to become a REO Listing Agent. Earn your RSD (REO Specialist Designation). Watch the FREE Agent REO Secrets video and grab your FREE How to list REOs book.
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Harris Real Estate University students…you need to pay attention to what is being said in this excellent CNBC (Thanks Diana Olick) video:
Know that the topics discussed in this video will have a direct effect on our industry and your income:
You need to pay very close attention to these emerging topics: Abolishing the GSE’s and Principal Mortgage Writedowns.
This video will give you a clear indication of what the government is considering. You need to ask yourself what will happen if there is a new program to reduce principal mortgage balances and if at the same time the GSE’s are abolished. (Assume that if Fannie and Freddie are killed off that rates, terms and qualification standards will be dramatically altered).
These are epic…rule changers for our industry. Pay attention.
1) Fannie Mae and Freddie Mac are on a path of destruction. Many are calling for the GSE’s to be abolished!
2) NOW, the GSE’s are providing 75% of all new mortgages.
3) 3 proposed options: Nationalization of the GSEs, Improved GSE structure or turn them over to the private sector.
4) Combined with FHA Fannie and Freddie ARE the mortgage market. Private banks are not lending…no GSE’s….no mortgages.
5) Get this…112 BILLION that has been spent..that will never be paid back…and they are expecting another 112 BILLION in upcoming losses! (anyone out there still think we are near bottom?)
6) Principal mortgage writedowns are gaining momentum…10% off all mortgages 25% upside down…and 25% of all mortgages 10% upside down. In the US roughly HALF of all homes are owned…no mortgage. Of the other half…35% are now upside down.
Agents, if you aren’t listing and selling REOs now…what the heck are you waiting for? Watch the FREE Agent REO Secrets video and download the FREE Agent REO Secrets book NOW.
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Featured HREU Student of the week:
Deirdre Vanko is a Realtor in Middleton, a suburb of Madison, WI. She has been an agent for 5 years. She specializes in home search, home selling, distressed properties, helping people avoid foreclosure, working with banks and asset managers, and REO’s. She is married to her husband, Brian Vanko of over 8 years and has 2 daughters. The older daughter will be attending the UW Madison, younger daughter not school aged. She has been in sales and customer service for 20 years.
Deirdre has been in Madison area for over 13 years. Previously she worked in the finance field in the automotive industry. She lived in Brown Deer, suburb of Milwaukee, WI. Her interests are bowling, and golfing, being outdoors. She likes all music types. Deirdre also enjoys hanging out with Rocky her English Bulldog.
Hometown:
Brown Deer, WI Lowell too
Country:
United States
Occupation:
Real Estate Broker
Companies:
Real Estate Solutions, LLC
Schools:
Brown Deer, WCTC
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Great video from CNBC’s Diana Olick.
This week we are picking through the housing data. Are we in a full blown housing recovery or will the millions of bank controlled listings (that are just now creeping onto the market) force the housing market tides recede once again.
What do YOU think? What is happening in your market…what is selling and what is sitting? Let us (the the thousands of other real estate professionals who read this blog) know what you think is going to happen next for housing..
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