Realtor Coaching & Training: California
Join us for this week’s FREE live Harris Real Estate University Superstar Interview.
This weeks featured HREU Superstar’s are:
Lance and Karen Kenmore.
The Kenmore’s are long time HREU students having been personally coached by Tim and Julie Harris for years. Listen in as we ask the Kenmore’s how they have gone from selling only a handful of homes per year just a few years ago…..to today, where they will sell well over 100 homes in 2010. The Kenmores fully embrace the HREU rule of having multiple lead generation spokes. The Kenmore’s have a weekly radio show, are Dave Ramsey preferred agents, have a fantastic system for keeping in contact with their centers of influence and past clients.
Join us for this FREE HREU Event. Here is the info for your schedule:
EVENT: Super Star Interview
DATE & TIME: Friday, March 12th at 9:00am Pacific
FORMAT: Simulcast! (Attend via Phone or Webcast — it’s your choice)
TO ATTEND THIS EVENT, CLICK THIS LINK NOW…
http://AttendThisEvent.com/?eventid=11669457
A little info on Lance and Karen from their website:
The Kenmore Team is a full service real estate team assisting buyers and sellers in residential resale, relocation, investment properties, short sales, foreclosures and luxury homes sales in Tri-Cities, Washington (Richland, Pasco, Kennewick) and surrounding areas.
As life long residents of the Tri-Cities and active members of our community our first hand experience and knowledge of the area provide you a major advantage when making important real estate decisions. Working as part of a powerful team we provide our clients with exceptional customer service, technology, and most importantly results. We back this up with a guarantee that most agents wouldn’t even consider.
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Rick Sharga, RealtyTrac
Breaking News: New foreclosure filings drop…but, is this reason to celebrate…or is something else going on?
U.S. foreclosure filings rose at the slowest pace in four years in February as the government sought to reduce record bank seizures, RealtyTrac Inc. said.
A total of 308,524 properties received a notice of default, auction or seizure last month, or one in 418 households, the Irvine, California-based seller of default data said today in a statement. Filings rose 6 percent from a year earlier, the smallest increase since RealtyTrac began tracking annual changes in January 2006. They declined 2 percent from January.
The Obama administration’s main effort to keep people in their homes resulted in more than 830,000 trial loan modifications for delinquent borrowers through January, according to the Treasury Department. Still, filings were up for the 50th straight month in February on an annual basis and topped 300,000 for the 12th consecutive month, RealtyTrac said.
“This leveling of the foreclosure trend is not necessarily evidence that fewer homeowners are in distress and at risk for foreclosure, but rather that foreclosure prevention programs, legislation and other processing delays are in effect capping monthly foreclosure activity,” RealtyTrac Chief Executive Officer James J. Saccacio said in a statement.
About 116,000 mortgages have been permanently modified under the government’s program, compared with as many as 4 million targeted by December 2012. New data will be released March 15, Meg Reilly, a Treasury spokeswoman, said in an e-mail.
Winter storms may also have delayed the processing of foreclosure notices in the U.S. northeast and mid-Atlantic, RealtyTrac said.
Interesting point…many state offices were simply closed due to the weather. That will result in what appears to be fewer filings but, the reality is that we will see another surge in next months report. So, if the Obama administration wants to truly slow down the rate of foreclosure filings maybe they should simply mandate more ’snow days’ for the states county court houses! Hey, don’t laugh…that would be a heck of a lot cheaper than HAMP!
Bank Repossessions
Bank seizures are increasing the number of homes for sale. Lenders took back 78,683 properties last month, up 6 percent from February 2009 and down 15 percent from a peak in December, RealtyTrac said. More than 2 million empty homes were on the market in the fourth quarter, according to the Census Bureau.
“Government programs are helping to keep more supply from coming out,” Brian Bethune, chief financial economist at IHS Global Insight in Lexington, Massachusetts, said in an interview. “We’ve got a disjointed market where most of the housing supply is coming from foreclosures rather than building new homes.”
‘High’ Foreclosure Rate
Bethune predicted a “high” rate of foreclosures for at least the next 12 months. RealtyTrac expects record bank seizures this year, said Rick Sharga, executive vice president for marketing.
So, as an agent what should you do? Simple. Learn how to become a REO Listing agent…and make money from BPOs. Its NOT too late for you to become a REO listing agent. Banks are looking for agents to do their BPOs and list REOs NOW. Watch the FREE Agent REO Secrets Video and then Grab your FREE Agent REO Secrets book.
The cost of borrowing for home purchases will probably rise as the Federal Reserve winds down a program to purchase as much as $1.25 trillion of mortgage bonds, according to George Mokrzan, senior economist at Huntington National Bank in Columbus, Ohio. Mortgage rates fell to 4.95 percent in the week ended today from 4.97 percent, Freddie Mac said in a statement.
Default notices totaled 106,208 in February, down 3 percent from a year earlier and up 3 percent from January, RealtyTrac said. Defaults peaked at more than 142,000 in April.
Scheduled auctions totaled 123,633 last month, up 16 percent from February 2009 and down 1 percent from January. The peak was more than 144,000 in August.
Nevada, California
Nevada had the highest foreclosure rate for the 38th straight month in February, with one in 102 households receiving a filing. Arizona and Florida tied for second at one in 163 households.
California ranked fourth at one in 195 households, followed by Michigan at one in 226. Utah, Idaho, Illinois, Georgia and Maryland rounded out the 10 highest foreclosure rates.
The most filings were in California, with 68,562, down 15 percent from a year earlier. Florida was second with 54,032, up 16 percent, and Michigan was third at 20,028, a 59 percent rise.
Illinois had the fourth-highest total filings with 17,312, Arizona had 16,718 and Texas had 12,638. The six states accounted for 61 percent of the U.S. total, RealtyTrac said.
Georgia, Ohio, Nevada and Maryland rounded out the top 10.
Filings rose 14 percent from a year earlier to 3,750 in New Jersey. They climbed 3.3 percent to 2,294 in Connecticut, and dropped 20 percent to 3,237 in New York.
Las Vegas had the highest foreclosure rate for cities with a population of more than 200,000. One in 90 households there got a filing. Cape Coral-Fort Myers, Florida, was second at one in 92.
Six metro areas in California or Arizona had decreases in filings from January, with Phoenix showing the biggest drop at almost 18 percent.
Port St. Lucie, Florida, showed a 66 percent increase, said RealtyTrac, which sells default data collected from more than 2,200 counties representing 90 percent of the U.S. population.
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Interesting perspective on housing from a true real estate billionaire Mort Zuckerman.
Mr. Zuckerman made his money…in real estate. So,it would be safe to assume he would do his best to be a real estate cheerleader.. to talk up real estate…vs what he seems to do in this blog post.
Read what he has to say…and understand the ramifications of his comments…
America’s housing crisis has not gone away. If anything, it is getting more severe. Today, median single family house prices nationwide are down by slightly more than 30 per cent from their early 2006 peak. Fusion IQ, the research group, estimates that excess inventories will push prices down by a further 10 per cent. This is a critical issue because home equity was for years the largest asset on the balance sheet of the average American family.
The sheer number of empty homes overhanging the residential property market points to lower prices. There are an estimated 7m homes empty today, and an estimated 7.7m houses and condominiums behind on their mortgage payments. This is tantamount to a shadow inventory.
Agents, his estimates for potential upcoming foreclosures are the same as we have reported on this blog…15,000,000. Can there by any doubt that its NOT TOO late for you to become a REO Listing Agent? Take action now and watch the FREE Agent REO Secrets video and download the FREE Agent REO Secrets book. Learn how to become a HREU RSD and get the jump on the next wave of foreclosures!
More than 4m of those are now delinquent and going through some form of foreclosure or related procedures that will put them on the market in the next year or two. Fannie Mae’s 90-day delinquency rate is now roughly 5.5 per cent, double that of a year ago.
Home sales are depressed, too, by competition from some 6m rental vacancies, or 11 per cent of total rental supply. Median asking rents have been declining by an estimated 3.5 per cent over the past year – and that is accelerating.
There is no cheer in the new residential numbers either. January’s new home sales plunged by more than 11 per cent month-on-month to an annual rate of 309,000 units, the weakest on record. It now takes a record 14.2 months to sell a finished house. In the boom years, it took about three.
Even worse, the median price for new homes sold was $203,500, almost a seven-year low, and that for existing single-family homes fell 3.5 per cent month over month to $163,600, a new eight-year low. Inventories rose to a 9.1 month supply, which on top of the shadow inventory of unsold houses and those in the foreclosure pipeline does not bode well for homebuilders or housing. Neither does the sharp decline in mortgage applications to the lowest levels since May 2007 and the rise on the 30-year mortgage rates to more than 5 per cent.
Roughly one in four mortgages today exceeds the house’s value – approximately 10.7m homes. American Corelogic, the research provider, estimates an average deficiency per home of $70,700 or an aggregate of about $800bn.
OK, this is scary. If you will recall, last week in this blog post we shared with you the new research that proved that homeowners will do a strategic default at considerably higher rates when they are…$70,000 or 25% upside down. Using Corelogic’s numbers this would result in 10.7 million potential strategic defaults!
An additional 2.3m homes had less than 5 per cent equity. The remaining equity for many other homeowners is at historic lows. With declining prices beginning to hit the middle to higher ends of the housing market, we are looking at another foreclosure wave.
….and that is what we have been predicting for over a year….agents, if even half of what this blog post were to come true..what would that mean to your real estate market…and your real estate business? Are you ready…have you learned the new 2010 Short Sale Guidelines? Hopefully you know by now that the Obama administration is focusing on making short sales the solution to the inevitable massive increase in foreclosures. Watch the FREE Harris Real Estate University CDPD Short Sale Secrets video now…and grab your free short sale book.
Popularity: 2% [?]
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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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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Quick…important message for you…
Schedule yourself for TODAY’S FREE Agent REO Secrets Teleconference…
….you know that its crucial that you learn how to become a REO listing agent..join us in a few short hours…
Again, the call is TODAY…Thursday March 4th at 12nn PST, 1pm MNT, 2pm CNT, 3pm EST…..
Important Link—> Urgent Agent REO Secrets teleconference Info
This is going to be a very intense (fun and FR-EE) 90 minute teleconference….
…….where you will learn directly from 2-3 of the nations top producing REO Listing Agents what they did to become REO listing agents…
I have a question for you…..
Are you new to REOs…do you want to know exactly how-to get started….and need someone to show you the way?
This is the perfect call for you…..
Or
Are you already an REO listing agent and you want to learn the secrets to listing more assets?…..This is the perfect call for you.
This is the 100% fluff-free….take-action-now info that you must have to cash in on the
REO listing explosion that is taking place NOW.
REO Secrets event info—> How-To List REOs Event Info.
How important is it that you become a REO listing agent?
Well, get ready to be shocked….
The banks will be dumping up to 15 million homes on the market. Yes, you read that correctly….15,000,000.
To put this into perspective, there are currently 4 million homes for sale across the U.S.
Once the banks flood the market we will have more than 3 times the number of homes for sale!
What should you do now?
Learn exactly how-to become an REO listing agent. Stop struggling in this market……
…….learn exactly how-to not just ’survive’ in this market…but, THRIVE IN THIS MARKET.
Is it hard to become an REO listing agent? (What are the secrets?)
That is what this week’s call is all about…..We are going to make it easy for you to become a highly profitable REO listing agent.
Before it’s too late….here is the info for your schedule:
Important Link—> FR-EE Agent REO Secrets Event Info
Be sure to call in (or log-in on the webinar) at least 10 minutes early to be guaranteed your spot.
Speak with you soon!
Tim and Julie Harris
Harris Real Estate University.
P.S. This call will last 90 minutes. Call starts today Thursday March 4th at 12nn PST, 1pm MNT, 2pm CNT, 3pm EST.
Popularity: 1% [?]
As Promised, here is the email that I sent to all Harris Real Estate University students earlier today….join us for this weeks HREU RSD Agent REO Secrets FREE event!
Hello,
Tim Harris here…
You are serious about taking REO listings…right?
Of course you are…
After all, everyone knows that REO listings are the listings to have in this market. Take a look around your market. Who are the top producers…the agents raking in all the dough?
The agents with the REO Listings.
Go here now for all the call-in info for this Thursday March 4th how-to list REOs Event:
Important Link—> Agent REO Secrets Event Info
Now, the real question is…How do YOU become an REO Listing Agent?
Here’s how…
Several months ago we held the *F-R-E-E* Harris Real Estate University Agent REO Secrets teleconference….As we expected, that call was completely full.
This is the intense live 90 minute teleconference (or webinar) where you get direct access to all the secrets you must have to get started in the make-money-now business of bank owned homes, REOs.
On the last call we announced that we were closing the doors for the Agent REO Secrets class……for at least 90 days…
….and that is exactly what we have done.
Unless you contacted us directly….you couldn’t enroll in the class..
Here is what happened…we received many requests from agents who missed the last REO Secrets Event….They were all asking (make that demanding) that we provide another FR-EE Event…
So, that’s what we are going to do…..THIS THURSDAY March 4th….
We are setting aside 500 spots for this week’s Agent REO Secrets teleconference (or webinar). I suspect that (like the call before) all of these spots will be taken….
In other words, we have limited space and it’s first come…first served. (Call in or log-in at least 10 mins early)
Here is the information for the call..
THIS THURSDAY March 4th, 2009 you are invited to attend the Agent REO Secrets Teleseminar.
Go here now for all the call in info:
Important Link—> How-to list REOs Teleconference
This is going to be another fantastic call. You will get direct take-action-now access to real agents who are making real money listing and selling REOs….
We are interviewing 3 fellow Realtors who have become REO listing machines…
1) An agent from the Midwest who is listing REOs like a mad man…He is now taking 4-6 new listings directly from REOs per week……making more money and its taking 50% less time and effort. Last year alone he sold 144 homes…90% REOs!
2) You won’t believe our next agent expert’s REO experience…he is listing dozens of homes directly from 5 REO sources this month. That is not a typo…20+ listings. You will learn exactly how he is doing it…we are holding nothing back!
3) As promised we will also interview an agent from California…Jennifer. She is making a fortune doing…BPOs. Matter of fact, she has been averaging well over $10,000 per month…from BPOs!
Your spot on this THURSDAY’s March 4th Agent REO Secrets teleconference has been reserved. Remember, this teleconference is no cost to you.
Go to this link now for important call-in information:
Important Link—> Agent REO Secrets, List REOs Event Info
Remember, we only have 500 spots available for this teleconference.
Once those ’seats’ are taken..they are gone.
To guarantee your seat… here is what you need to do…
You will want to call in (or log in using the webinar) at least 10 minutes early to be guaranteed your spot.
When you attend the event this THURSDAY here are a few of the things you will learn:
1) How to contact the lenders…YES…we are giving out names and numbers of the largest REO companies.
2) We will tell you exactly how to ‘present’ to the REO companies so they will want to list their homes with you.
3) You will learn the 3 biggest mistakes you must avoid at all costs.
4) How to make money now from BPOs.
5) Here is a new topic…IF you have REO listings we will tell you the top 3 reasons you will lose those listings…YES, the banks are pulling listings…you must know these 3 crucial mistakes to avoid.
On this 90 minute call you will learn our proven step-by-step process to becoming an REO listing agent.
We aren’t holding anything back on this call. Get ready to take pages of great notes.
Here is the best part about these 3 agents…none of them had any REO listings 6-12 months ago. They applied what they learned from Agent REO Secrets and are now having their best years ever.
Go here now for all the call in info:
Important Link—> How-To List REOs Teleconference (or Webinar) Info.
One more thing….I know this sounds crazy. Please don’t share the info about this call with other agents. We expect the call to be completely full.
Speak with you soon!
Tim and Julie Harris
P.S. This is not a ‘fluff call’. We respect your time and will be
giving you the information you must have to cash in on the REO
listings explosion taking place right now.
P.P.S. This call is taking place at 12:00 pm PST, 1:00 pm MTN,
2:00pm CTR, 3 pm EST.
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