HARRIS REAL ESTATE UNIVERSITY Students (and future students..) there is absolutely no question that we are experiencing a sales surge and the spring 2012 housing market will be the best in at least 6 years. No doubt, this is a reason to celebrate. But, lets not forget the headwinds facing our industry: 1) 4,000,000 owners have already lost their homes. 2) 6,000,000 owners are currently in default. 3) 11,000,000 owners are underwater. 4) 34% of all home sales are ‘distressed’ (short sales and REOs) 5) Homes for less than $250,000 are selling quickly..why? All cash investors and first time home [...] Click Here To View More
Federal Mortgage Servicing Settlement FAQ | How To Make Your Claim
HARRIS REAL ESTATE UNIVERSITY STUDENTS (and future students) share this information with all of your clients, share on Facebook, your blog…everywhere. Q: What is a mortgage servicer and how do I know who services my loan? A: A mortgage servicer administers mortgage loans, including collecting and recording payments from borrowers. A servicer also handles loan defaults and foreclosures, and may offer loss mitigation programs to assist delinquent borrowers. The company that you make your monthly payment to is your mortgage servicer. Your mortgage servicer may or may not be a lending institution and may or may not own your loan. [...] Click Here To View More
Is Strategic Default, Short Sale Ethical? | Walking Away From Underwater Mortgage
Thanks to HARRIS REAL ESTATE UNIVERSITY Coach Mark Shandrow for sending me this article from The New Yorker. Read the original article here. Share this great article with all of your potential Short Sale sellers. Remember, there are 6,000,000 owners currently IN default and another 11,000,000 who are underwater. (actual number of underwater owners could be as high as 20,000,000 if those who are considered ‘near’ underwater. Meaning, they owe what the house is worth. If they were to list their home for sale, factoring in the normal selling fees etc..they would be underwater) We normally say that a company [...] Click Here To View More
Breaking News: States AGs Robo Signer Foreclosure Fraud Settlement (Video)
BREAKING NEWS: States AG Settlement. It appears the whole robo-signer, foreclosure fraud mess is finally coming to an end… ….or is it. This much lauded settlement will have virtually no impact on the housing market let alone the overall economy. What this suit will result in is MORE foreclosures. (not less) Why? Because in many parts of the US the foreclosure process has been slowed (or completely stopped) as the banks worked through this litigation. Remember all of those stories of owners living payment free….well, their free rides are coming to an end. As an agent, its crucial that you [...] Click Here To View More
Big Banks Paying Big Bucks For Short Sales…$35,000+ At Closing!
HARRIS REAL ESTATE UNIVERSITY Students (and future students), share this article with everyone you know. Use this information to further motivate your underwater owners to short sale their homes. Afterall, very little motivates folks more than money…how much money? How about $35,000 cold hard cash (and sometimes more) at closing. Banks, accelerating efforts to move troubled mortgages off their books, are offering as much as $35,000 or more in cash to delinquent homeowners to sell their properties for less than they owe. Lenders have routinely delayed or blocked such transactions, known as short sales, in which they accept less from a [...] Click Here To View More
Short Sale: The Best Solution To Avoid Foreclosure
HARRIS REAL ESTATE UNIVERSITY Students (and future students) share this video, tweet it. This video answers very common questions owners have about what to do with an underwater home. Remember, effectively 50% of ALL OWNERS with a mortgage are now underwater. Think about that…in most real estate markets every other home is underwater! Be the agent with the solution to help that owner avoid a foreclosure… WARNING: Short Sales…love em or hate em…they are here to stay! Go beyond the basic ‘expert’ short sale designation. Watch the FREE 2012 Agent Short Sale Secrets video and download the FREE Short Sale training [...] Click Here To View More
Breaking News: Surprise S&P/ Case-Shiller Home Price Index
Breaking Housing News: Surprise drop in home values defying overall trends… WARNING: Short Sales…love em or hate em…they are here to stay! Go beyond the basic ‘expert’ short sale designation. Watch the FREE 2012 Agent Short Sale Secrets video and download the FREE Short Sale training guide. NOTICE: Free book guaranteed for the first 100 agents only. S&P/Case-Shiller index of property values in 20 cities declined 3.7 percent from November 2010 after decreasing 3.4 percent in the year ended in October. Case speaks with Tom Keene and Ken Prewitt on Bloomberg Radio’s “Surveillance.” Bloomberg Television’s Betty Liu also speaks. (Source: [...] Click Here To View More
Most Talked About Articles On Real Estate Insider News
Round up of last week’s leading real estate headlines from RealEstateInsiderNews.com Be sure to share these articles with your Facebook Friends….hit the ‘Like’ button now. * Housing hits bottom, how long will it take for homes to return to 2006 values? Read the article here. * Spring Housing Market could be the best in years!. Read the article and check out the video here. * President Obama’s announcement in last week’s State of the Union address that he has created a new unit to probe mortgage abuse. * The much lauded 2007 Mortgage Debt Forgiveness Relief Act is set to [...] Click Here To View More
Its Official: 2011 Was The Worst Year For New Home Sales…EVER! (Video)
After a welcome week of seemingly positive housing news….now, its back to reality. Its official: 2011 was the WORST YEAR for new home sales in U.S. History. (like we didn’t all know that already, right?) To the facts: * 1 out of every 5 homes sold in 2011 was a foreclosure * New home sales dropped in December * Home values are still on the decline (3-5%) * There will be a new wave of foreclosures in 2012. Remember that whole robo-signing mess? The states A.G.s are in the final stages of settling the massive suit with the nations largest [...] Click Here To View More
Agent Update: Fannie Mae HomePath Offer System | How to List REOs, BPOs
The HomePath Online Offers system launches nationally on February 2, 2012. This self-service, easy to use offer submission system can be accessed through HomePath.com. Beginning February 2, selling agents must submit all offers on Fannie Mae properties to the listing broker/agent through the HomePath Online Offers system. Review the checklist below to confirm you’re ready to begin managing your offers. Before the HomePath Online Offers system launch on February 2: √ Take the training! View the live or recorded training on HomePath Online Offers. Go towww.homepath.com/offerQuestion.html to view the recorded trainings. √ Verify that your contact e-mail address is the same [...] Click Here To View More
ALERT: Spring Housing Market Could Be Best In YEARS!
Thanks to CNBC’s Diana Olick for another great housing report (is there another housing reporter other than Diana?) Housing is showing signs of having FINALLY bottomed! Here are the facts: Distressed sales are now 32% of the market. ALL cash buyer are 31%. Home sales INCREASED in December. I think this is not a small point. When was the last time that housing sales INCREASED in December? (never) The overall supply of homes has dropped from 11 months to 6.2 months. National Association of Realtors is calling this a substained recovery. Meaning, we have seen consistently positive housing reports over [...] Click Here To View More
Breaking News: Housing Has Hit Bottom?..This Expert Says YES!
Has housing FINALLY hit bottom? This expert says YES. Watch this great CNBC Video and share your comments. Has housing hit bottom in your market…are you seeing the inventory of homes for sale starting to right-size itself? QUESTION: Why do 1% of the agents make 99% of the money? Answer: They are making money NOW doing REOs and BPOs. Why aren’t you? Watch the FREE 2012 Agent REO Secrets video and grab the NEW FREE REO/ BPO Book. NOTICE: Free book guaranteed for the first 100 agents only. Click Here To View More
2012 Housing Predictions: Is the Worst Over?
About 1.9 million homes entered the foreclosure process in 2011, the lowest level since 2007 when the recession began, according to a report Thursday by the foreclosure listing firm RealtyTrac. That the decline does not necessarily indicate that the housing market is getting better, as many foreclosures have been delayed due to confusion over documentation and legal issues involved in the process. Watch the video… Visit msnbc.com for breaking news, world news, and news about the economy Click Here To View More
HARRIS REAL ESTATE UNIVERSITY SCAM ALERT | Cash For Keys Scam Spreading!
We have been warning HREU Students about this scam for well over 2 years. Scammers have figured out how to cash in on..cash for keys. Banks often pay tenants (and owners) cash for they keys in exchange for leaving the home in broom swept condition. Literally, the bank will send an agent to offer whomever is living in the home 1000s to move out with out trashing the home or forcing the bank to evict them. Now, scammers have figured out of they camp out in vacant homes they will eventually be paid to leave. For the home to qualify [...] Click Here To View More
The Foreclosure Report – December 2011
2011 Foreclosure Activity Ends With a Whimper Foreclosure Starts dropped significantly throughout our coverage area with the exception of a modest increase in Oregon. Foreclosure Sales were mixed, and down far less than we expected given lender announc... Click Here To View More
Fix Housing Solution: Make REOs Into Rentals…Solution or Insanity?
Is the new American Dream to RENT A Home…(or as our favorite housing reporter Diana Olick says…are we now a Renter Nation?) Like it or not the millions (and millions) of REOs must be sold. Maybe making them into rentals is the best solution. Watch this video and share your thoughts. Click Here To View More
Fannie Mae CEO Resignation
In case you missed this from yesterday…Fannie Maes CEO, Mike Williams has resigned. Why is this important? Because what happened quickly after he announced he was quitting: 1) Work leaked that whomever becomes Fannie Maes new CEO will be doing so at a greatly reduced salary. 2) Obama administration officials are moving forward on bulk sales of Fannie Mae properties. (read more about the bulk sales here) 3) Obama administration officials have made no secret of their desire to greatly downsize Fannie Mae. Wanna bet that all 3 of these reasons were at the heart of Mike Williams departure? Click Here To View More
Wells Fargo Giving Away REOs | How to List REOs, BPOs
Well Resources – Donating Wells Fargo Housing Foundation Real Estate Owned (REO) Property Donation Program Purpose : To facilitate the transfer of Wells Fargo owned or managed REO properties to cities and nonprofits seeking to revitalize neighborhoods and provide sustainable homeownership or rental opportunities to low- to moderate-income (LMI) people. Nonprofits must have completed at least two consecutive years of operations as of the date of application. Organizations must include financial statements, audited if possible, for the immediate prior two-year period and/or IRS Form 990 for the same period. Goal: To help stabilize communities and the lives of the people [...] Click Here To View More
Fannie Mae Bulk REO Sales Program Details Leaked | How to list REOs
Calling ALL Investors….get your BULK Fannie Mae properties here! The government is working on a Bulk REO sales program that may trigger a housing gold rush for those who qualify. (of course) This is a quickly emerging story and the details are being worked out as you read this. Watch this CNBC video to get an idea of what is expected to be coming to an investor market near you. Click Here To View More
Housing Hits Bottom, Full Recovery Expected To Take Years
Its clear that housing has hit bottom for most of the country. (Yes, in some markets there will be an additional 3-5% loss in value over the next 12 months.) All the ‘bubble appreciation’ has now evaporated and home values stand where they were back in 1999-2002..or in many areas the market has over corrected and its now possible to buy homes at 1998-1999 values. The only question now is how long will it take for the housing market to fully recover? A complete housing recovery will mean there is a 4 month supply of homes for sale. Before there [...] Click Here To View More
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