Archive for January, 2010

FORECLOSURE SEMINAR EDUCATES THE PUBLIC

A power cast of speakers were put together in a seminar dubbed “Avoiding Foreclosure” held on Tuesday, January 12, 2010 at the Downtown Chandler library. The panelist included Tracy King – Wachovia short sale manager, Tim Hensley – HUD certified counselor, Mark Winsor – Real Estate Attorney, Paul Sundin – Certified Public Accountant, Reginald Givens – Coordinator of the Home Stabilization program, Real Estate Broker and Mark Taylor – Mortgage Consultant.

Many people came either because their home is upside down or they are facing imminent foreclosures. What I gathered from the panelists is, loan modification will not help everybody and is not the best solution for everyone. More than half of those who were granted a loan modification went back in default after a few months. Also, find out the legal and tax ramnifications of doing a short sale or loan modifications prior to beginning the process.

It was a great seminar that helped a lot of people know more about the options available to their homes. One question still remains among homeowners is – “Who will listen to my problem and care enough to help me.“ The lenders, loan modification companies and HUD certified counselors have a huge volume of short sale or loan modification applications and cannot respond quickly enough to get homeowners out of foreclosure. If you are not getting anywhere with your bank and don’t know who to turn to, don’t hesitate to contact me at 480.650.0075. I can connect you to professionals who would be able to help you and answer any questions you have regarding the options available for your home.

January 18, 2010 at 10:07 pm Leave a comment

n the world of Real Estate, every Realtor is DIFFERENT!

The differences can be as huge as black and white or day and night. There are Realtors who work full-time, others who work part-time; Realtors who care and those who pretend to care.

Realtors hang their license with several different brokerage firms that differ in depth of knowledge, experience, liability coverage, resources and support system. To find out which Realtor is right for you will be dealt with in a future blog entry. For the time being, let me focus on recent events that lead me to believe that in the industry that I live and breathe, there are Realtors to avoid.

1. I recently hit the complaint button on the Multiple Listing Service (MLS) website — my first time to do that, by the way — to address a complaint toward a Realtor who posted ZERO photos and NO remarks on a listing after 18 days on the MLS. MLS rules require at least one exterior photo be posted within five days of entering the listing on the MLS. If I were the seller of that home, I would fire the Realtor! How can you sell a house without MLS photos and remarks? The days already on the market have been wasted, and the seller will eventually have to drop his price because the listing is stale. This can impact home values throughout our neighborhood, as well.

2. I was recently out valuing a property for a new listing in Chandler. One of the direct comparables in the same neighborhood showed that the house recently sold for $112,000. My listing got an offer fairly quickly, but was appraised for $9,000 LESS than what the offer was because the comparable that we thought sold for $112,000 actually sold for $105,000 — the Realtor had failed to enter the correct sold price of $105,000 on the MLS. My sellers ended up netting less than what they had hoped, thanks to the incorrect data provided by that Realtor.

3. I have emailed several Realtors to remind them to change the status of their listings to either AWC (??), Pending or Sold. MLS rules dictate that Realtors have 72 hours from contract acceptance to change the status to pending or ACW. Otherwise, a report can be filed to the Arizona Multiple Listing Service and a fine can be issued, depending on how many history violations the Realtor had.

These and many more incidents create a bad public perception of Realtors as a whole and reduce the level of respect for the professionals in the industry.

On the flip side, there are very good, reliable, honest Realtors who conduct business professionally. I have surrounded myself with these professionals and as a result, I also became one. Like the saying goes, “Birds of a feather flock together.”

When choosing a Realtor, it is good practice to ask for references, recommendations, and ask the right questions during an interview. Also, check the Realtor’s website. These steps will help you determine whether a particular Realtor is professional and is right for you.

January 9, 2010 at 3:51 pm 1 comment


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