Realtor Coaching & Training: tim and julie harris
2010 Mega Trends in real estate that you need to pay attention to…..
1) Short Sales becoming the preferred ’solution’ to stave off the never ending increases in foreclosures…in most markets short sales will dominate. Agents who have learned how to do short sales will be what we term..the New Mega Agent. Agents, Learn the right way to do short sales…right now. Watch the FREE Agent Short Sale Secrets video and download the FREE Agent Short Sale Secrets book <–Click Here.
2) MORE government programs, policies, intervention (meddling) that will result in the existing real estate industry losing its traditional dominant control over housing..
3) Vastly more people leaving the real estate industry vs new people becoming agents. In California, unlike previous recessions where people became agents when they lost their jobs..in other words higher unemployment = more new agents. Now the trend is the exact opposite. Agents leaving and fewer people wanting to become agents. What will this mean going forward in terms of the influence the NAR has in D.C.? Fewer agents means less income…less lobbying….less influence.
4) Mega Brokers becoming Mega Virtual Brokers. We expect that there will be several national real estate brands that turn away from the traditional real estate ‘body shops’ where the goal was more (and more) agents. Replaced with 100% virtual offices where the agents will be held to higher standards.
5) The long standing American ethos of…owning a home…is gone. More people will reject that their brand of the American Dream must include home ownership.
6) The death of the McMansion. Demographics simply don’t bode well for home owners with McMansions. Bottom line, there is a massive over supply of these types of homes. Evidence of this changing trend is…
7) Jumbo Delinquencies. Sure, some homeowners with these McMansions are missing payments due to hardship. However, studies have proven that the more educated, the more ‘wealthy’ someone is the more likely they are to do a strategic short sale (or foreclosure). As you will learn in this video, 9.6% of ALL Jumbo Mortgages were delinquent in December. Its predicted that 10% of all Jumbo Mortgages will be delinquent in January!
Watch this great CNBC video for more proof that the day and age of the McMansion are over….
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Listen to this week’s FREE Harris Real Estate University Superstar Interview NOW.
…….100% Free and everyone is welcome to listen ….HREU Students and future students alike.
The topic for this week’s interview:
Your Toughest Short Sale Questions Answered.
HREU CDPD (Certified Distressed Property Designation) Master Coaches Kim and Kris Darney and Tim and Julie Harris will answer your nastiest…ugliest..smelliest short sale questions.
CLICK THIS LINK TO LISTEN NOW…
http://www.AttendThisEvent.com/?eventid=10734348
Here are the questions that we will answer for you…
1. How do I set the price for the Short Sale Listing?
2. Secret to getting your Short Sale Package submitted to the lender/servicer?
3. What to I tell my client about Tax Ramifications when they Short Sell their home?
4. How do I get my HREU designations and certificate, and how can I use them to get more business?
5. How do I present myself to prospective Short Sale clients…What makes me more capable than another agent?
6. Do I submit a separate listing package to both 1st and 2nd lien holders at the same time?
7. How often should I follow up with the bank once I submit a Short Sale package?
8. How can I find out if my client has a Fannie Mae or Freddie Mac loan to get 6% commission?
9. What do I tell the client when they ask if their credit will be affected by the Short Sale?
10. Can the seller of the home live there during a short sale?
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New Feature; Celebrity Real Estate News.
Housing news, keeping our HREU Students on the leading edge of what is happening now and what will happen next… has been this blogs mission from day 1.
Serious stuff, right!?
Well, occasionally everyone needs a little mental chewing gum…something to read that offers no intrinsic value beyond pure fluff. With that in mind we are now going to feature celebrity real estate stories.
Source: BergProperties.com
Brad Pitt and Angelina Jolie have increased the size of their compound in Los Angeles’ Los Feliz neighborhood, with Pitt quietly paying $1,100,000 to buy a missing link for his property in the form of a 3,232-square-foot house that his estate largely had surrounded.
In a Big Time Listings exclusive, we can report on Pitt’s latest purchase, which like some other property of his was made through his Mondo Bongo Trust (he also owns other properties in his Briarcliff Trust and his Blaircliff Trust). Records show that Pitt purchased the property on August 6 from the estate of the late Anne Tyler Sherman. The deal was recorded on August 11.
Built in 1920, the two-bedroom, former Sherman house — whose property is shaped like a key — sits on a 0.25-acre (10,759-square-foot) lot in the Oaks area of Los Feliz. It helps Pitt round out his compound and means that Brad now owns close to 2 full acres in the Oaks.
In fact, we had wondered out loud in a September 2008 post why Pitt had never purchased this critical keystone parcel.
However, when this property became available, it first was listed for a whopping $2,000,000 and later was reduced to $1,495,000, as Curbed LA’s guru Marissa Gluck had noticed in June 2009 (without realizing that Pitt’s compound surrounded it). Features in the house (we were unable to find listing photos) include two baths, a stone fireplace, a huge main room, a bonus room, and “a bar area and a secret cave,” according to the MLS. In addition, the house was advertised as being an estate sale and therefore in need of TLC. Clearly, Brad and Angelina drove some kind of a bargain, to be able to pick the house up for close to half of its original listing price — and, almost $400,000 below its final asking price.
Pitt’s other properties on his compound are as follows:
–The compound’s historically significant, five-bedroom, 5,760-square-foot main Craftsman-style house, which was built in 1915 and which Pitt purchased in 1994 for $1,700,000. That house sits on nearly an acre (a 43,268-square-foot lot), according to public records. Pitt appears to have recently expanded the house, which public records previously had said measured 5,338 square feet.
–Another adjoining 1,653-square-foot house on a small, 0.13-acre (5,606-square-foot) lot, which Pitt purchased in 1998 for $475,000.
–An adjoining 2,454-square-foot house on a 0.29-acre (12,458-square-foot) lot, which Pitt purchased in 1996 for $380,000; as part of the 1996 transaction, Pitt also purchased an adjoining, 0.03-acre (1,307-square-foot) strip of vacant land that he also continues to own.
–An adjoining 1,534-square-foot house on a 0.15-acre (6,530-square-foot) lot, which Pitt purchased in mid-2008 for $1,287,500.
Putting all these parcels together, we see that Pitt now as under his own personal control 79,928 square feet of contiguous land in the Oaks (across six separate parcels!), or more than 1.8 acres of land. In addition, as we noted in September 2008, Pitt, who also not long ago won approval to add a guardhouse to his compound, sold another adjoining 3,141-square-foot house on a 0.30-acre (12,972-square-foot) lot in October 2003 for $740,000 to Richard “Richie” Malchar and Rebecca Malchar, according to public records. Richie Malchar has been identified in various news reports over the years as being Pitt’s security chief (and he has his name on the deeds of many of Pitt’s properties as his money manager, as does money manager Cynthia Pett). So in many regards, Malchar’s house and parcel could be included as part of Pitt’s compound as well. Pitt also sold a 2,219-square-foot house on a 0.30-acre (13,190-square-foot), uncontiguous tract at 5720 Valley Oak Drive in 2002 for an undisclosed price (north of $1 million, though).
Also, tallying everything up, we see that Pitt has spent $4,933,500 in assembling this compound, or close to $5 million. It’s obviously worth a lot more than that now, though, since some of those purchase prices were from long ago.
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Harris Real Estate University students (and future students) meet Elizabeth Warren…
How bad will it get…is our economy going to ‘bounce back’ ?
Watch this video as she explains what is happening now and what may happen next:
| The Daily Show With Jon Stewart | Mon – Thurs 11p / 10c | |||
| Elizabeth Warren | ||||
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Harris Real Estate University students (and future students) this week is all about real estate news.
First up, National Association of Realtors just released home sales data:
* Home Sales Dive 16.7% In December.
Why? Tax credit was set to expire. Remember, it was extended through April 2010.
* Sales up 15% Over Dec 2008.
* Inventory fell 6% nationally.
* Nationally, 7+ month supply of homes.
* Average sales price in the country now…$178,300
* Sales down across the board..in all regions…all states.
* Prices down 12.9% in 2009 over 08. (Largest year over year decline in history)
Here is the CNBC Video:
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Is the Apple Tablet Computer the perfect computer for real estate professionals?
This week we will know for sure but, here are the juicy rumors about this new PC:
* According to many sources the new computer will be called: ipad, iSlate, iBook or itablet.
* The key board will be on the screen.
* Love your iphone? You will love this new computer…some refer to the new Apple Computer as a giant iphone.
* Connection to the internet.
* Download videos, books, magazines etc. directly off itunes and partner sites. Seems that the idea is that you will replace your Amazon Kindle with this new Apple computer. The Kindle was a e-reader using digital ink technology. Meaning, the actual screen on the kindle made the text look like printed paper (more or less). Downside was that there were no color images etc. The new Apple Tablet will give all of us carnivorous readers more options.
* Perfect…on the road….MLS access devise.
* Hey…here is an idea….attend your Harris Real Estate University classes via the webinar using your new Apple Slate!
* Price will be around $1000…..coming to an Apple store near you in the next 30 days! Look for the offcial announcement in less than 48 hours!
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NEWS ALERT: Harris Real Estate University students (and future students) Read NOW!
Another brewing game changing news story that you need to be aware of…
Barney Frank is now calling for the end of Fannie and Freddie. Suggestions are being made that Fannie and Freddie are doomed and something ‘new’ needs to be created.
Watch this story. What effect with this have on interest rates when the biggest single ‘investor’ of mortgages very existence is in question?
Here is the video:
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