Realtor Coaching & Training: real estate university
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.
Popularity: 1% [?]
Harris Real Estate University.
New Obama Treasury Department program PAYS homeowners to avoid foreclosure..and do a short sale….lets call this one…’Cash For Walkers’
Why not?
We already have..’Cash For Clunkers’ and the proposed ‘Cash For Caulkers’….maybe this new program should be called…Cash For Walkers?
Afterall, this is what happens when someone decides to take the Treasury Department up on their offer to do a short sale vs allowing the home to go into foreclosure.
We first reported on this detail of the soon enacted HAFA Program clear back in November. Watch the videos we made for you about HAFA..and why 2010 IS the year of the Short Sale.
In case you missed it…here are the details:
In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes. Now it will take a new approach: paying some of them to leave.
This latest program, which will allow owners to sell for less than they owe and will give them a little cash to speed them on their way, is one of the administration’s most aggressive attempts to grapple with a problem that has defied solutions.
More than five million households are behind on their mortgages and risk foreclosure. The government’s $75 billion mortgage modification plan has helped only a small slice of them. Consumer advocates, economists and even some banking industry representatives say much more needs to be done.
Agents, are you now 100% convinced that 2010 IS the year of the Short Sale? If not, go back and read those last few sentences again. Next, learn NOW how to become a HREU CDPD (Certified Distressed Property Designation). Watch the FREE Agent Short Sale Secrets video and download the FREE Short Sale book!
For the administration, there is also the concern that millions of foreclosures could delay or even reverse the economy’s tentative recovery — the last thing it wants in an election year.
Taking effect on April 5, the program could encourage hundreds of thousands of delinquent borrowers who have not been rescued by the loan modification program to shed their houses through a process known as a short sale, in which property is sold for less than the balance of the mortgage. Lenders will be compelled to accept that arrangement, forgiving the difference between the market price of the property and what they are owed.
Re-read that. Part of the new HAFA program is that the lenders CAN’T Go after deficiency judgments. And….they can NO LONGER request that the seller sign a promissory note…or cash at closing. Watch the videos that we created for you…you need to understand what a simply massive shift will take place April 5th once the new HAFA Guidelines are in place. Watch the videos NOW.
“We want to streamline and standardize the short sale process to make it much easier on the borrower and much easier on the lender,” said Seth Wheeler, a Treasury senior adviser.
The problem is highlighted by a routine case in Phoenix. Chris Paul, a real estate agent, has a house he is trying to sell on behalf of its owner, who owes $150,000. Mr. Paul has an offer for $48,000, but the bank holding the mortgage says it wants at least $90,000. The frustrated owner is now contemplating foreclosure.
To bring the various parties to the table — the homeowner, the lender that services the loan, the investor that owns the loan, the bank that owns the second mortgage on the property — the government intends to spread its cash around.
Under the new program, the servicing bank, as with all modifications, will get $1,000. Another $1,000 can go toward a second loan, if there is one. And for the first time the government would give money to the distressed homeowners themselves. They will get $1,500 in “relocation assistance.”
Should the incentives prove successful, the short sales program could have multiple benefits. For the investment pools that own many home loans, there is the prospect of getting more money with a sale than with a foreclosure.
For the borrowers, there is the likelihood of suffering less damage to credit ratings. And as part of the transaction, they will get the lender’s assurance that they will not later be sued for an unpaid mortgage balance.
Agents, please understand…if the homeowner does NOT do a short sale…they are still on the hook for a possible judgment! Once homeowners learn about this….do you think they will want to do a short sale? Of course. Now the only question is…will you be the agent to list and sell that short sale? Learn the new proven ways to easily list and sell short sales. Become a HREU CDPD Now for only $97! Go here now to learn more.
For communities, the plan will mean fewer empty foreclosed houses waiting to be sold by banks. By some estimates, as many as half of all foreclosed properties are ransacked by either the former owners or vandals, which depresses the value of the property further and pulls down the value of neighboring homes.
Under the new federal program, a lender will use real estate agents to determine the value of a home and thus the minimum to accept. This figure will not be shared with the owner, but if an offer comes in that is equal to or higher than this amount, the lender must take it.
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What is the state of the housing recovery?
A sharp drop in pending home sales for January is the latest in a string of reports calling into question the health of the housing recovery.
The housing recovery is “in a precarious state,” says Robert Shiller, Yale professor, author and co-creator of the S&P Case-Shiller Index, taking a much more pessimistic view vs. his comments here last July.
Shiller’s eponymous index, which has risen for seven straight months through December, “shows some weakening of the upward burst” from last year, but is still going up on a seasonally-adjusted basis, the professor says. “If I were to forecast based on my usual models of years ago I would think we’ve turned a corner, we’ve bottomed and we’re turning up.”
But that’s a very big “if” and Shiller says there are reasons to wonder whether this time is different, or certainly to be worried about the sustainability of housing’s recovery:
* — Only the Shadow Knows: Housing experts say there’s anywhere from 2 to 5 million homes ready to come on the market, due to pending foreclosure. How soon…this year and into next year. This DOES NOT include the up to 15,000,000 other homes that may go into foreclosure over the next few years.
Do YOU think its too late for you to become a REO Listing Agent…and make money from BPOs? Its not. The banks are boiling over with REOs. Watch the FREE Agent REO Secrets video now…and download the new 2010 REO Secrets book. Free List of Asset Managers and other info you need know to cash in on the explosion of REO Listings!
*– Strategic Default…”I think people will become less resistant to defaulting on their mortgage,” Shiller says. “That’s a real cloud on the horizon.”
* — What happens when the fed stops buying the MBS’s. What this will result in is that the artificially low mortgage rates will increase as the secondary market demands returns greater than what are currently being offered.
*–The home buyer tax credit ends this spring… “We can’t just slam on the brakes and withdraw that — we could but I’d hate to see what happens,” he says. “When [government programs] do end there’s going to be a psychological component of that ending as well, which is really hard to predict.”
For that reason, Shiller expects some or all of the government housing programs will be extended, raising the broader question of how the government removes all the liquidity that’s been provided.
“It’s very hard to get out of this mess,” he says. “We have to transition to a more [market-based] economy. It’s going to be a difficult transition. That’s why I have worries for years forward.”
Agents, as Dr. Shiller is making clear in this video….and as we have been telling you…THIS MARKET IS THE NEW NORMAL. What homes are selling now? Short Sales and REOs. Do whatever it takes to learn how to list and sell short sales. Watch the FREE HREU CDPD Agent Short Sale Secrets video now..and grab your FREE Short Sale Secrets book!
Popularity: 2% [?]
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.
Popularity: 2% [?]
UPDATE: Listen to the FREE Replay Of This AMAZING CALL NOW. <—–CLICK HERE NOW!
I have to admit, I am excited about this weeks HREU Superstar Interview.
In the real estate world, Sean O’ Toole is a bit if a celebrity. You may remember Sean from his contribution to the 60 Minutes News story about housing, featured on this blog.
Join us for tomorrow’s FREE Superstar interview. Listen in as we ask Sean what you need to know about what is coming next for housing. If someone knows, its Sean.
Here is the link you need to attend tomorrow’s event:
Harris Real Estate University Exclusive Superstar Interview With ForeclosureRadar CEO Sean O’ Toole. <—-CLICK HERE NOW.
Here is a little background about Sean and his company, Foreclosureradar.com
Sean nearly lost his first home to foreclosure twenty years ago. With the help of a local Realtor, he was able to negotiate a short sale with the lender and move on. Years later, after a successful career as a Silicon Valley entrepreneur and executive, Sean returned to the foreclosure market — as an investor. It did not take him long to realize that the foreclosure data and tools he was forced to rely upon were sorely lacking. In purchasing more than 150 foreclosures, it also became clear to Sean that the marketplace itself was deeply fragmented in ways that harmed both consumers and real estate service providers. So he pulled together a development team from his days in technology and got to work.
Just so you know that we are not messing around on tomorrow’s interview…here are the questions we have prepared:
1. How bad is it going to get…lets bottom line it…how much worse will the real estate market become in terms of foreclosures?
2. How much more property value loss are you anticipating.
3. Are there any markets that are actually Appreciating now?
4. Will there be a ‘bottom’ in home values…as in a month (some are calling 2010 Q4 the hard bottom, for example)…or will the market go through a slow processing of ‘bottoming’ taking perhaps years?
5. Do you think there has been a fundamental shift in the way Americans think about housing?
6. Is ‘owning a home’ going to be so hardwired into the American psyche as a rite of passage going forward or will homeownership be considered optional as folks accept being long term renters? (like most of the rest of the world)
Harris Real Estate University Exclusive Superstar Interview With ForeclosureRadar CEO Sean O’ Toole. <—-CLICK HERE NOW.
7. Housing trends…we reported on the blog the other day that a new housing trend is multi-generational housing…are you seeing any other trends?
8. What is happening in housing now…that will surprise the market. IS there any under reported real estate news that you want to let the market know about?
9. How many more years of this type of market will be have…is this the new normal?
10. Ok, hard question…lets talk about strategic foreclosures. We have been reporting on this since 2007…now doing a SF seems to becoming almost viral…so…how big will this become…are the banks preparing for this?
11. In terms of numbers, how many homes (on the high end) are projected to go into foreclosure (assuming they don’t sell via a short sale first?)
12. With that many foreclosures…when will home values re-appreciate to 2006-2007 values?
13. Is it likely that some homes will never be worth what they were at the peak of the bubble?
14. Lets chat about housing trends. McMansions…the big subdivision homes….demographically speaking…who is going to buy them?
15. Lets talk about short sales…we have seen that the major REO conventions rebranding themselves around short sales…how significant will short sales be here forward?
16. What do you think of the new HAFA program from the Treasury Department?
17. So, clearly the market is all about working with distressed homeowners…lets talk about how Foreclosureradar Fits in. What do you guys do?
18. How can an agent use your service?
Harris Real Estate University Exclusive Superstar Interview With ForeclosureRadar CEO Sean O’ Toole. <—-CLICK HERE NOW.
Popularity: 3% [?]
More on the just released Case Shiller Home Price Index:
* US Home Prices have been rebounding since April 2009.
* Shadow Inventory…bank owned homes….are going to be a huge problem.
* Many buyers entering the market now because many people simply…feel better…more confident.
* Dr. Shiller thinks the banks Shadow Inventory could reverse the positive trend and there will be another 10% of home value loss in the next 24 months.
Agents, read this post about how to become a REO Listing Agent:
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