Realtor Coaching & Training: real estate scripts
Zip Realty Home Reports.
Here is a optimistic-ish report about the housing markets from Zip Realty. Anytime we come up with anything that even remotely sounds positive about the housing markets..we will post about it!
The ZIP Realty report is talking about history…what has happened.
For a look at what is coming consider this. The National Bankers Association reported last week that there were a staggering increase in the number of homeowners entering the initial stages of default. A record number of homeowners are now 60 days late….3,000,000. Experts tell us that 95% of all homeowners who fall 60 days behind will lose their home to foreclosure (or the smart ones will sell via a Short Sale). No doubt that we are in the eye of the storm vs being at the mythical ‘bottom’.
The U.S. housing market is showing signs of stabilization, according to inventory data released on Monday by national real estate brokerage ZipRealty.
Emeryville, California-based ZipRealty reported a drop in the number of Multiple Listing Service-listed homes for the 12th consecutive month in June.
The number of single-family homes and condos listed for sale decreased in June from May by 2.1 percent, bringing the total number of active listings in 28 major U.S. markets to 696,858, the company said.
Additionally, ZipRealty tracked an increase in the median list price in the 28 markets to $270,440 in June from $270,027 in May. Despite the sequential increase the median list price still decreased 2.72 percent when compared to June 2008.
ZipRealty’s Housing Inventory Index, compiled from local MLS data, for June showed that Las Vegas, Los Angeles and Phoenix all recorded a decline in inventory, which the company said may have contributed to some homes receiving several multiple bids.
Las Vegas, Phoenix, San Francisco Bay Area and Los Angeles showed median list prices flatten or increase. California showed the most dramatic inventory declines, with Los Angeles showing a 53.9 percent decrease year-over-year while Bakersfield/Fresno tracked a 56.2 percent decrease.
“‘Affordability’ has been the buzz word in real estate this summer, and with a significant number of listed homes bank-owned we’re seeing instances in some areas of banks dropping prices to generate more offers from buyers,” ZipRealty President and CEO Patrick Lashinsky, said in a statement.
“If the number of home listings continue declining and buyer interest and activity remains strong, we should see sales prices and home values increase as we head into the fall,” he said.
Source: Rueters.com
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LISTEN TO REPLAY NOW….LISTEN TO REPLAY NOW…LINK BELOW..
Hello,
Quick reminder…..
Join Tim and Julie Harris tomorrow for the HREU
F-R-E-E Realtor Superstar Interview.
This weeks interview is going to be something special…
Many of you have requested that we interview current students
who are experiencing huge levels of success DESPITE the market.
So, that is exactly what we are going to do for you…..
When you attend this weeks call you will learn directly from
3-4 fellow Realtors a few things they are doing to:
1) Make money NOW.
2) 3-4 things they are doing that is working (and what isn’t)
3) How to have the mindset of service and gratitude.
4) Have pure and powerful mindsets even in this market.
Here is the information for tomorrows call…..
EVENT: SUPER STAR INTERVIEW
DATE & TIME: Friday, October 10th at 9:30am Pacific
FORMAT: Simulcast! (Attend via Phone or Webcast — it’s your choice)
LISTEN TO REPLAY NOW…CLICK THIS LINK:
http://instantTeleseminar.com/?eventid=4447326
Speak with you soon!
Tim and Julie Harris
Harris Real Estate University
P.S. Have you visited the blog lately? You will want to do this now…new information just posted about this market www.TimandJulieHarris.com
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Hi HREU,
I wanted to give you guys kudos for doing a great job. I join Harris Real Estate University a little over a month ago in the REO and Short Sale programs. The up to date information you provide is essential to doing business in today’s market. I have received offers on three of my short sale listings which have been sent to the lenders for approval. The packages were complete by having the skills and the paperwork needed that you provided in the program. I try to be on all the calls, but if I can’t, I can always listen to them later. I really appreciate your quick response to my email questions. I feel like I have a partner by my side giving me answers and encouragement.
I have tried other programs and coaches in the past that were very expensive. I am so glad that I found your program. This is what I had been waiting for, thanks again.
Sincerely,
Iris Fields ABR, CRS, e-PRO, GRI, SRES
RE/MAX Advantage
The Fields Group
Realtor coaching, real estate coaching, real estate training, bank owned properties, reo coaching, reo, realtor, bpo coaching, real estate scripts, real estate coaching and training.
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Quick reminder for you….
If you missed the recent -FR*EE– Agent REO Secrets teleconference
this is your opportunity to learn now what you must know about REOs.
The teleconference (or webinar, your choice) starts in less than 20
hours from now.
Remember, we have very limited space on this call so first
come..first served.
The call is tomorrow WEDNESDAY August 27th, 2008 at 12nn PST, 1pm MTN,
2pm CNT,3pm EST.
Go here now for all the call in info:
Important Link—> http://instantTeleseminar.com/?eventid=3946854
We are really excited about this call.
We are interviewing 2 fellow agents who have become REO listing
machines…
1) An agent from LA who just started listing REOs 3 months ago …
and he is now taking 4-6 new listings directly from REOs per week.
He is making more money and its taking 50% less time and effort.
2) You won’t believe our next agent expert’s REO experience…he is
listing 300 homes directly from ONE REO source this week. That is
not a typo…300 listings. You will learn exactly how he is doing
it…we are holding nothing back!
Your spot on this Wednesdays July 23rd Agent REO Secrets
teleconference has been reserved. Remember, this teleconference is
*F-R-E-E* to you.
Go to this link now for important call-in information:
Click This Link—> http://instantTeleseminar.com/?eventid=3946854
We only have very limited spots available for this teleconference.
We had 718 agents register (as of this morning) and are expecting
all the spots to be gone shortly.
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 Wednesday 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.
4) How to make money now from BPOs.
On this 90 minute call you will learn our proven step-by-step
process to becoming a 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 2 agents…neither had any REO
listings 90 days ago. They applied what they learned from Agent REO
Secrets and are now having their best years ever.
Here is that link again:
Last Chance—–> http://instantTeleseminar.com/?eventid=3946854
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
Harris Real Estate University
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 that is taking place now.
P.P.S. This call is taking place at 12:00 pm PST, 1:00 pm MTN, 2:00
pm CTR, 3 pm EST.
Realtor coaching, real estate coaching, real estate training, bank owned homes, bank owned properties, how to list reos, BPO, best real estate coach, REI, real estate scripts, Realtor.
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President Bush’s decision to drop his opposition to a housing bill that has been pending in Congress for nearly a year cleared the way Wednesday for House approval of a greatly expanded package intended to shore up the shaky real estate market.
But even the most optimistic forecasts suggest it would help only about 400,000 of the estimated 3 million homeowners who will likely lose their homes in the next year. And with home prices still falling in most parts of the country, some analysts and economists say it will take at least another year before the housing market hits bottom and begins to recover.
The centerpiece of the proposed foreclosure relief effort is a package of federal loan guarantees to help strapped homeowners refinance into market-rate mortgages with better terms than the high-cost loans that are busting their household budgets. Lenders would have to agree to take a substantial loss on the existing loan.
But attorneys, housing counselors and others working with strapped homeowners say the proposal falls short because it leaves the decision to modify a loan up to individual lenders or loan servicing companies.
As a result, that means the housing bill will have “little or no impact on the number of foreclosures,” according to O. Max Gardner III, a Shelby, N.C. bankruptcy attorney who works with homeowners who are trying to modify their mortgages.
The option of refinancing loans at risk of default has been available to lenders since the housing and mortgage meltdown began. Despite government efforts to prod lenders to speed up the process, progress has been slow.
A survey by Moody’s Investors Service released last week found that as of March, loan servicers had modified less than 10 percent of the subprime loans with interest rate resets — up from 3.5 percent in December. Some homeowners report that their modified loan came with higher monthly payments, offering little long-term relief.
The survey found that about 40 percent of the loans modified in the first half of 2007 were 90 or more days delinquent as of the end of March.
The bill also raises the size of mortgages the two companies can buy or guarantee to $625,000 from the current $417,000 limit —extending the pool of customers for Freddie- and Fannie- backed loans in high-cost housing markets.
To spur home buying, the bill also extends tax credits of up to $7,500 for first-time homebuyers effective from April 9, 2008, to July 1, 2009.
Nothing is going to help those with existing loans who face default and foreclosure — or their neighbors who are seeing their home’s value decline.
“It’s not going to speed up or lessen the impact of the correction of the housing market,” said Wachovia economist Mark Vitner. “It’s too late for that. There’s nothing that can be done.”
Unless foreclosures can be slowed, home prices will likley fall further, according to Federal Reserve Chairman Ben Bernanke.
“The declines in home prices have contributed to the rising tide of foreclosures,” he told a congressional panel last week. “By adding to the stock of vacant homes for sale, these foreclosures have in turn intensified the downward pressure on home prices in some areas.”
“The real losers in this awful crisis are the residents who live next to the foreclosed property who have continued to pay their mortgages on time yet see their property values rapidly decreasing,” said Ali Solis, vice president of public policy for Enterprise Community Partners, a nonprofit group that helps finance affordable housing.
“The crisis is not getting better, the crisis is getting more severe,” said Susan Keating, the president of the National Foundation for Credit Counseling, which works with local agencies helping cash-strapped families. “And the tentacles of the problems are much more far-reaching than any of us would have considered 18 months ago.”
While the initial rounds of mortgage defaults and foreclosures were concentrated on the lower end of the economic ladder, the problem is now hitting families with higher incomes. Gardner says he’s seeing a big increase in bankruptcy filings from wealthier clients.
“From predominantly hourly employees all the way up to doctors, lawyers, insurance agents, people that were involved in the banking mortgage and real estate business,” he said. “It’s just been a massive upward movement on the income scale.”
For some homeowners, no amount of government help will head off a foreclosure. That includes many in states with the highest concentrations of mortgage defaults, such as California, Florida, Arizona and Nevada. In those states up to 40 percent of buyers in recent years were buying the homes as investments, according to Vitner.
“These investors never thought they’d have to make any mortgage payments. They thought they’d flip it,” he said. “These investors have no money. They have nothing. They used credit cards to make the down payment.”
Some info provided by wwwmsnbc.com
Realtor coaching, Tim and Julie Harris, Harris Real Estate Univeristy, How To List REOs, Real Estate training, coaching + training + reo + short sale, real estate investor, real estate scripts, super star interviews.
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Home prices in 20 U.S. metropolitan areas fell in April by the most on record, signaling the housing recession is far from over.
The S&P/Case-Shiller home-price index dropped 15.3 percent from a year earlier after a 14.3 percent decline in March. The group began keeping year-over-year records in 2001. A separate report showed consumer confidence slumped this month to the lowest level in 16 years.
Clearly, the greatest opportunity for Realtors in this market are knowing how to work with Sellers who have to sell despite the market conditions. Agents who are Short Sale and REO specialists are having their best years ever. Learn how one normal Joe agent just took 300 REO listings that equals millions in commissions.
Free Agent REO Secrets Book and E-Course. Download Here NOW.
Mortgage defaults and foreclosures are adding to the glut of properties on the market, while stricter loan rules are making it more difficult for prospective buyers to get financing. The prolonged real-estate slump, along with higher fuel prices and a shrinking job market, is taking a toll on consumers and the economy.
Month-Over-Month
Nationally, home prices fell 4.6 percent in April from a year earlier, led by a 15 percent drop in states on the West Coast, the Office of Federal Housing Enterprise also reported today. The monthly house price index is down 4.6 percent from its peak in April 2007, Washington-based Ofheo said.
The Ofheo price index covers the entire nation, while the S&P/Case-Shiller 20-city gauge covers some areas that have shown the greatest fluctuation in values. The Ofheo measure also doesn’t include so-called jumbo mortgages, which are loans that exceed federal limits. The maximum was raised on a temporary basis in February to as much as $729,750 in some areas.
Declines Widespread
All of the 20 cities in the S&P/Case-Shiller index showed a year-over-year decrease in prices for April, led by a 27 percent drop in both Las Vegas and Miami. Charlotte, North Carolina, showed a decline for the first time.
Reports this week may reinforce the dim outlook for housing. Combined sales of new and existing homes in May probably were the third-lowest on record, according to the Bloomberg survey median.
Sales May Fall
New-home sales probably fell, approaching March’s 17-year low, a report from the Commerce Department tomorrow may show. The National Association of Realtors may report the following day that purchases of existing houses, which account for 85 percent of the market, rose last month from a record low.
Rising borrowing costs aren’t helping. Fannie Mae, the largest mortgage buyer, last week cut its forecast for new and existing home sales this year as 30-year fixed mortgage rates jumped to an eight-month high.
Banks repossessed twice as many homes in May as they did a year ago and foreclosure filings rose 48 percent, according to RealtyTrac Inc., a real estate database in Irvine, California.
Homebuilders are reeling. Standard Pacific Corp., an Irvine, California-based homebuilder, last week said new home orders for April and May fell 12 percent from a year earlier, citing “difficult housing conditions” in most of its markets.
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