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All presentations to be held in the Steele Auditorium at the Heard Museum. This schedule for Unchained is subject to change:
Sunday, May 18, 2008:
8-10AM Registration. The conference starts at 10AM and ends at 4PM.
Zillow Workshop
Email Marketing
Hyper Local Blogging
Sunday is "Bonus Day" so food will not be available. The Museum Coffee Shop will be open at 9:30AM- 3PM. The Heard Museum will be open until 5PM and admission is complimentary for conference attendees. Presentations on Sunday will not be included in the DVD set.
No evening events planned.
Monday, May 19, 2008
The conference starts at 8:30 AM and ends at 4PM:
Unchained Epiphany
The Way of the Hunter
Working Lunch- ( TBD)
The Way of the Farmer
Real Estate Website Makeover
6PM- No Host Happy Hour at the Radisson
A Continental breakfast will be available at 8AM; coffee and water throughout the day. The Museum Coffee Shop will be open at 9:30AM- 3PM. The Heard Museum will be open until 5PM and admission is complimentary for conference attendees.
Tuesday, May 20, 2008
The Conference Starts at 8:30 AM and concludes at 4PM
Traditional Marketing For A Web 2.0 World
Blogging For Dollars
Working Lunch (TBD)
Keynote Presentation
Online Reputation Management
Black Pearls and Commencement
A Continental breakfast will be available at 8AM; coffee and water throughout the day. The Museum Coffee Shop will be open at 9:30AM- 3PM. The Heard Museum will be open until 5PM and admission is complimentary for conference attendees.
There is a morning and afternoon break for personal phone calls. This schedule is subject to change.
Our UNCHAINED Faculty include:
Brian Brady
Jeff Brown
Louis Cammarosano
Ron Cates
David Gibbons
Theresa Lussier
Glenn Kelman
Laurie Manny
Mary McKnight
Greg Swann
A few more faculty members are tentative and will be added when confirmed.
Let's keep our eye on the ball, folks.
Glenn Kelman is coming to Phoenix. Mind you, he has every reason not to come, now. This accomplished young man could be in Seattle, San Francisco, Los Angeles, Orange County, San Diego, Boston, or our nation's capitol. He could be fighting for scraps, during a difficult real estate market...yet...
Glenn Kelman will be at The Heard Museum, in Phoenix, on May 20, 2008. I'll speculate as to why; Glenn Kelman is truly UNCHAINED. What exactly does that mean?
If you were at the Mesquite library, yesterday, you already know what that means. It means you don't have to take crap from a boss, a company, or anybody. In fact, the only crap you'll have to take is from customers- if you do it right, you won't have to take crap from them, either. You'll be marketing your craft so well that you'll interview your customers; not them you. It means you have the right to thrive and the right to fail in this new brave world. It means you are responsible for your destiny. It means that in a sea of chaos, you find order and take action to benefit your business.
Successful people are action based. Why do you think I goaded Greg Swann into this conference? I wanted to bring together action-based people who recognize the real power of social media marketing. I wanted to mobilize the army of individuals to take responsibility for their future and thrive, not just survive, in the future of real estate and mortgage brokerage.
You wanna get ready for the tesseract? Be counted among the ranks of the guerrillas. Action-based people always get results. Think we're"disrespectful of tradition"? Head over to the bar and take a poke at us. That'll make you feel better.
Does Greg Swann's comment about "kicking Inman's ass" offend you? Head back to the bar and sing "Glory Days". We want steely-eyed competitors at UNCHAINED. Competitors who saw the beauty of the 2001 World Series. Competitors who defy tradition and stake their claim, like the frontiersman of yesteryear. UNCHAINED competitors.
Do I want to "kick Inman's ass?" Hell, yeah! Is it out of spite? Hell, no. I think we have something different to say; something of tremendous value. That's the beauty of the UNCHAINED epiphany (which you'll hear next Monday morning). I can either sit at the bar and take pokes at them or I can do something about it. I choose the latter. It is that healthy competition, started by a couple of mavericks, that will make Inman Connect more relevant.
How do I know this? I invited Laurie Manny to speak at UNCHAINED and commented that she has been largely (and unfairly) ignored by the powers that be:
Laurie's a success. I chased her for three reasons:
1- She loves to talk about this stuff.
2- She should be talking about this stuff.
3- Nobody else was smart enough to put her in front of a crowd, TO talk about this stuff.
Laurie's no theoretician; she's a roll up your sleeves, action-based, soldier in the trenches.
Look what happened, within 48 hours of that announcement. I will raise the bar of Inman Connect by competing against them.
Who benefits from this healthy competition? You do, of course.
Glenn Kelman is speaking at UNCHAINED. He represents a business model that has drawn the ire of every established trade organization in this country. He was ambushed, as a new CEO, at Inman Connect. A year later, he walked into the shitstorm, at the very same place. He's going to do it again, on May 20th. That's a steely-eyed competitor.
Glenn Kelman intends to kick traditional real estate brokers' asses. Next Tuesday he'll teach you how to defend yourself.
PS- The tesseract is brought to you by Zillow.com. It is the principle of healthy competition (that they created in the mortgage industry), that they bring to you by sponsoring UNCHAINED. Tesseract is spelled with a Z, in my world. They are hardly immune from criticism yet always inspired to innovate. Thank them at UNCHAINED. If Inman Connect is better this year than it was in the past, thank Zillow.com for sponsoring the event that made it more competitive.
Transparency is salesmanship. Sounds counteruntitive doesn't it? We've been conditioned since an early age to "distrust" salespeople yet we are all selling something, at one time or another in our lives.
Sales 101- Get all the objections out in the open. Remove their ability to say "NO" whenever you are ready to answer the buying question (NB: notice I didn't say "close"?)
Pay close attention to this essay by Greg Swann:
Why do we link in the Web 2.0 world? Not because a link is a footnote, and not because a link leads to more information. Not to give link love, and not to build the community. The purpose of a link is transparency: This is the truth and here is proof.
Transparency and verisimilitude both mean the same thing in this context: This is real. People are so used to marketing trickery that they expect it everywhere. The challenge for anyone seeking to change minds in the Web 2.0 world is to take away that expectation. Transparency doesn't mean I am obliged to disclose to you the color of my underwear. Transparency means that if there is any possibility that you could entertain the smallest doubt that I am effecting some kind of sleight of hand to trick you into doing something you otherwise would not do, I have to give you the means of eradicating that doubt to your own satisfaction.
Why do I have to do this? Because I'm trying to sell to you! If I don't take away every fear, doubt and objection you have to buying my product, you will not buy it - even if you end up buying the exact same thing - same terms, same price - from someone else.
How do I go about taking away your fears, doubts and objections in the world of Web 2.0 persuasion?
By linking, more than any other way. Linking is not about footnoting. Linking is not about providing resources for more information. Linking is not about sending link love to your buddies. Linking is not about building a community. Linking is not about engaging in conversations. All of these are ancillary factors, secondary consequences - but the purpose of linking is to demonstrate to your audience that you are telling the truth.
Greg is showing you how to sell your prospect without selling. Linking is deep proof to remove consumer distrust. It addresses objections before they ever appear. It is that built trust that sells a prospect before they even call.
Dan Kennedy (I know, I always quote him) taught us that a properly written sales letter can attract the right prospect so that she is "low-hanging fruit" by the time she calls; the sales letter does all the work and produces a trusting person with a huge need for your service. What Greg Swann has done is to show you how to IMPROVE on the Kennedy-esque sales letter by providing proof for every statement in a living document.
The blog post or the landing page, then, can be a useful work-horse in your marketing efforts because it is a perpetual yet living document. It can be internally linked (which helps SEO) from other pages on your website. It can be externally linked from others. It is the ultimate "closing statement" removing every bit of doubt while funneling the prospect to the ultimate goal...
...conversion.
Call me a shrewd negotiator or color me lucky but I pulled off a coup for the folks coming in for the Sunday session of the BloodhoundBlog Unchained Social Media Marketing Conference, brought to you by Zillow.com. I was spending my Saturday evening online and e-mailed Wonderful Russ, asking him to give me some time, on Sunday afternoon. There are two things you need to know about Russell Shaw: (1) his accomplishments dictate that you should schedule appointments for his time (2) his welcoming nature affords you an open door, so that it isn't always a requirement. You'll have to travel very far to meet a man more welcoming than Russell. Russell is a night owl, like I am. I think it's because he is most creative at night; I know my best creative thinking comes after 10PM. I wasn't surprised and was certainly delighted when his invitation to talk came immediately. "Call me now- I'll pick up," he beckoned. When Russell Shaw invites you to call, you just do it. Let me give you some background, first: I lived in Phoenix for 12 years. I've been a lender there, since 1995. Anyone familiar with Phoenix knows that Russell is an institution. Everyone within reach of the Phoenix television and radio airwaves knows Russell. I've watched Russell lose weight and gain gray hair, over the years, as THE spokesman for Maricopa County real estate. His presence is overwhelming with his plain-spoken "no- hassle listing" offering. If you're stuck on Interstate 10, driving into work, you'll hear this, on the radio. When you return home from work and settle down to enjoy the Diamondbacks game, you'll see this, on the television. Ubiquity is Russell's middle name. It is not a mistake that I've modeled his offline presence with my own brand of online ubiquity. I'm not brilliant, just smart enough to model successful people. I've hardly started and I could continue for hours. While Russell's success is chronicled in The Millionaire Real Estate Agent, a true testament to his success comes from a story from last Spring. Russell hosted a lecture series (for FREE) that Bloodhound Blog, North American Title, and World Wide Credit Corporation sponsored. You can get all of the podcasts of his presentation, here (you have to have a FREE Active Rain membership). I was elected to introduce Russell for session two. Prior to the event, I was at my sister's home in Phoenix. When I revealed my evening activity, my sister stood up straight (all 5′2″ of her), lowered her voice to imitate Russell's melodic baritone, and said, If you don't like it...FIRE me. That's branding, folks. Sorry for the digression. I felt the background was imperative. The coup I pulled off was merely being in the right place at the right time. It's no secret that Russell will engage Redfin's Glenn Kelman in a Presidential-style debate, to close out UNCHAINED. I fully expect that the presence of two leaders, debating the merits of two distinctly different business models, will be interesting enough. Still, Russell had more up his sleeve. You see, Russell desperately wants to help real estate agents. Desperately may be a strong word, perhaps willingly is more appropriate. He's reached the pinnacle of his profession and chooses to openly share his success with agents thirsting for that knowledge. He does it at StarPower, CRS Sell-A-Bration, and the National Association of Realtors. During our midnight call, the topic turned to UNCHAINED. Russell openly asked how he could help...more. I seized the opportunity to have Russell host an "UNPLUGGED" session, for two hours, on Sunday afternoon. Here, you can ask Russell any question you'd like about real estate brokerage and marketing. I predict that the Heard Museum will kick us out and Russell will be answering your questions in the parking lot; he's just that compelling and enthusiastic. What's this mean to you? Russell traditionally nets seven figures annually. You can reserve your spot, with him, for less than $200, now. Of course, that's not all you'll get for your money. We're going to feed you lunch, on Monday and Tuesday. We'll have snacks, all three days. We'll give you free wireless internet during the duration of the seminar. You'll get DVD recordings of the event so you can review what you've learned, all year long. The price includes a workbook, a journal of sorts, for you to chronicle all that you learn. Get Russell, the food, the wireless internet, the workbook, and the DVDs for $199. Sunday will be funday but you'll get some great ideas. Ron Cates of Constant Contact has agreed to host a workshop called, "The Power of E-mail Marketing". While he offers that seminar free to ConstantContact members, the knowledge you'll gain about e-mail marketing, done correctly, could be worth thousands of dollars to your bottom line. Laurie Manny and Teri Lussier will be on stage, discussing how to build a local real estate weblog. Teri was Greg Swann's apprentice in the Project Blogger contest and hosts The Brick Ranch, in Dayton, OH. Laurie owns the Google search term ""Long Beach Real Estate". No extra charge for their knowledge; you get it for $200, inclusive. BawldGuy Jeff Brown will be discussing his comment marketing strategy. That's a fancy way of saying that Jeff gains valuable referrals, for his investment practice, by actively commenting on real estate weblogs. Of course, there's more to it than JUST commenting and Jeff will share that with you at UNCHAINED. Jeff's another seven figure guy so you guess what an extended consultation with him costs. Ya see where I'm going with this? I haven't even gotten to Mary McKnight, Professor Greg, or my goofy marketing ideas. I'll throw in a zinger - David Gibbons. Is there a better online reputation manager than David Gibbons? What Would David Gibbons Do? is a mantra we use here at BloodhoundBlog when we discuss online reputation management. Forget what you'd PAY someone like David, focus on the thousands of dollars he'll SAVE you by teaching you what NOT to do. Barry Cunningham was SPEECHLESS when I told him what we were charging for UNCHAINED. Now, Barry's not prone to speechlessness so he immediately chastised me for not charging enough. Fortunately, I explained the value proposition of this conference and convinced him and his partner, Barry Johnson, to broadcast live, from UNCHAINED, on Real Estate Radio USA. The Barrys will be introducing their project, Agent Rockstar, at UNCHAINED. They're convinced that they can develop their talented producer, Lindsay Richardson, into a budding mega-agent...strictly from the resources available to her from her Rolodex. You'll have someone to benchmark after you leave the seminar. Many of you have asked about purchasing the DVD set, after the event. The DVD set and the workbooks go on sale, now, for the price of the event. Buy the DVD set and we'll throw in the UNCHAINED seminar for free. Why won't I discount the DVDs? The answer is simple - we've discounted the event. The DVD price will go up to the full $350 when the event price rises- and that will be soon. Reserve the DVDs or seminar admission for the same price, $199, today. Without the Zillow.com support, we couldn't offer this "market downturn" special price; it just wouldn't pencil out. What Zillow offers in financial support, Russell Shaw offers in moral support. Snaring his UNPLUGGED session was really a bonus. I hope you'll enjoy the seminar, as much as I will, next month. PS: I know we're delivering the goods but you don't. I said this to Vance Shutes, who's traveling from Michigan, and I'll say it to you. This isn't a beauty contest. While there will be networking opportunities and plenty of fun, Greg and I are hell-bent on giving you thousands of dollars of value for your seminar fee. If you're not satisfied with your investment, before, during, or after the event (or receipt of the workbook and DVDs) , simply tell us. We'll refund all of your money, no questions asked. PPS: I don't anticipate this discount to last . Sean Purcell and I gave a "warm-up" presentation, to a packed house at San Diego's Commonwealth Title, yesterday. I spoke to a group in La Quinta, last week. Greg Swann and I will be talking to 3-4 groups, in Phoenix, over the next few weeks. Greg promised a "guerrilla' discount to those of you who jumped early. It's no surprise that I've been WANTING to raise the price because the masses don't recognize the value at this low price. Greg's your best friend; he wants to keep this ultra-affordable for the folks in the trenches, trying to make it big in this tough market. I will eventually win this battle. Don't wait for that to happen. Whether you're planning to come to sunny Phoenix for BloodhoundBlog Unchained or buying the "home study" version in the form of the DVDs and workbook, commit your funds now before the price goes up...
Let's lock all mortgages rates at application, regardless of when its closing. I think this is about as good as it gets for a while. I still see 30 year fixed rates a tad under 6% (5.875%) but the good economic data, released today, could drive national mortgage rates up next week. I recommend a 7/1 ARM today. Rates offered for a 7/1 ARM, for loans under $417,000, are OVER a half a percentage point less than the 30 year fixed (5.25%). Most borrowers will feel comfortable with a seven year time frame. This means that 5.25% rate is locked in for 7 years- that's until 2015. (all loans offered to the consumer at the wholesale or "par" rate. We are paid 1% by the consumer.) To give you an idea of how long 7 years is, Disneyland's California Adventure opened in early 2001. You probably thought it was around forever. The bond traders won't be merciful next week unless recessionary data are overwhelming. Jump on these low rates now.
HomeGain announces personal blogging network for real estate agents: Early this morning we launched a free consumer-facing blogging service for our hundreds of Source4Sellers customers. The free, bundled Agent Blogs form a part of the HomeGain Blog and are also accessible through HomeGain’s free instant home valuation tool and from HomeGain.com. HomeGain Source4Sellers Agents Profiles and Blogs are featured exclusively in an ad-free environment.
I'm not surprised to read this. I was asked by HomeGain general manager, Louis Cammarasano to be the first "guest real estate blogger" on HomeGain blog. While that weblog was geared towards his HomeGain customers (real estate agents), I've received two online loan applications (from consumers) as a result of my participation there. When Louis asked me to contribute, I accepted because of the chance to elevate the discussion of blogging versus paid search (HomeGain's popular PPC product is BuyerLink). What I realized after I started was that I was writing and linking from a Google Page Rank 7 website. I took a page from the Dustin Luther blogging playbook (linkation, linkation, linkation), and used my position there as an opportunity to: a) talk to real estate agents b) further syndicate my Mortgage Rates Report c) build some quality backlinks for my 8-month old weblog
“Since the success of our agent customers is HomeGain’s mission, we wish to provide them with blogs of their own to supplement the visitors, phone calls, emails and leads that we send them,” Louis continued. “The Agent Blogs offer Source4Sellers real estate agents yet another contact point with potential home buyers and sellers and further lessens the reliance on the lead form as a way of attracting potential prospects. Louis' quote doesn't surprise me at all. When he approached me to start this group weblog, I insisted that he not treat it as the afterthought he considered it at the time. When I explained that it was important for me to associate my "brand" with excellence, he took it to heart and built a group site filled with some prominent real estate bloggers. I also got a chance to watch Louis develop this product. While I didn't KNOW he was headed here (until yesterday), my gut told me he would. I encouraged him to offer such an option for his agent clients from the beginning and Louis said he would "when he realized it could add value for them". I'm guessing he found that value this Spring. Greg Swann broke the news first about the HomeGain release: Both Brian Brady and Mike Farmer write on the HomeGain blog, so I hope they’ll keep us informed about how the new blogging platform is working out. Free blogging platforms are not always a slam-dunk success, but I think HomeGain’s offering makes more sense than does ActiveRain, for instance. I have felt that free weblogs would be a better solution than discussion fora on Zillow.com: Weblogging creates a middle-management structure, providing a cadre of volunteers to keep bad behavior from oscillating out of control.
Not a bad compliment for someone who categorizes Web 1.0 as "Chokepoint Charlie". Here's where Greg is wrong. Activerain.com will yield far superior results for the "industry talking to industry players" than Homegain weblog will. The connections agents and originators will make on ActiveRain come from the voluntary participation on an advertising-supported site. The stickiness of the points system will continue to drive Active Rain as the ultimate real estate industry destination for real estate professionals. The "virtual water cooler", to which Jon Washburn likens Active Rain, will be hard to duplicate. Here's where Greg is correct. HomeGain agent blogs could very well be the piece of the puzzle they missed at HomeGain. My initial criticism of HomeGain was that they were a CD operating in a MP3 world; effective but fast becoming a dinosaur. To continue with that analogy, my opinion about CDs and HomeGain have changed. We still need a tangible back up device for digital audio and HomeGain offers that equivalent in online real estate marketing. HomeGain's performance for delivering focused buyer clients to agent's web suites is unparalleled. Moreover, agents have an opportunity to "plug-in" to a Googlicious platform with "baked in" SEO . The result? Higher rankings in the crowded GoogleSearch. Long-tail searches from a PR7 platform should yield superior results to any other real estate blogging platform available. The offering will be consumer focused so I believe the results will supercede any consumer-facing real estate blog platform available. What originally started as a "predatory" Web 1.0 company, positioning itself between the agent and internet client, has fast become a useful paid online marketing compliment for the tech-savvy REALTOR. The interesting feature of the HomeGain agent blogs is the library of content they'll offer. In the coming months we will be adding syndicated content to supplement our real estate agents’ blogging efforts. While I expect commenters here to criticize HomeGain for being a "predator", I further expect those commenters to criticize the ability to use "pre-written content" on their blogs. We've been through that argument here before. You'll say ghost-written content won't work because it's not authentic and I'll show proof that it does. I'll ask you to not try to draw me into a debate about either of those issues. I recognize the evolution of HomeGain and I've seen proof that paid-blogging can work. Notwithstanding, the news here is that an effective online real estate marketer just offered a powerful tool for real estate professionals; let's see if we can keep the discussion to that topic.
No real change in my posture. I still believe that mortgage rates have room to go lower in the next 30-90 days but I'm advising clients who are closing in less than 17 days to lock. All others can float. Mortgage-backed securities traders have "baked in" a .25% rate cut from the Fed when they meet tomorrow. If Bernanke doesn't cut, mortgage rates will jump quickly. This week is filled with economic data. If the data are reported weaker than the estimates, we could see lower mortgage rates in the next week. The risk of that not happening, in this volatile market, is real so I'm sticking to the recommendation of locking your loans if you are closing before May 15. Countrywide Financial reported a a big loss from foreclosures while MasterCard reported huge profits. While MasterCard doesn't actually issue the cards (they just make money from transactions), it shows that people are walking away from their mortgages and using credit cards more frequently. Traders think that Bernanke is fixing the financial crisis in this country but those two events should give you reason to deliberate. We're still bouncing around on choppy seas and should be through the end of the year. I just don't see mortgage rates above the 6.5% level at all this year.
If you're thinking of buying a home in California, you might not want to sink everything you have into the down payment. In fact, it probably makes more sense to keep more money SEPARATE from the house equity, even if you have to pay private mortgage insurance or a higher interest rate. Banks are asking for higher down payments since the credit crunch started. Wanna know why? It lowers the bank's risk. If higher down payments lower the bank's risk to market fluctuations, than who assumes that risk? You got it; YOU DO ! Consider this article from the Arizona Republic: Joan Shaffer is turning in the keys of the north Phoenix Tatum Ranch home she bought with her daughter in late 2005. They put nothing down on the home, took out a loan that let them pay less than they owed each month and now their loan is $200,000 more than the house is worth.
"We paid $585,000. It was the peak of the market, but no one told us," said Shaffer, a real-estate agent from Colorado. "We would probably have to spend the next 20 years trying to get right on the mortgage. That's crazy." Housing has become volatile this decade. The pendulum like economy the information age brought us has increased that volatility. While walking away from a mortgage obligation is the last thing you want to do, the comfort of having cash in the bank supercedes the desperate feeling that the bank has all your money tied up the collateral. If you've noticed, banks aren't keen about letting existing homeowners borrow more through a cash-out refinance. "Homes have gone from being a place to live to a disposable investment for some," said Jay Butler, director of realty studies at Arizona State University's Polytechnic campus. "It used to be that paying the mortgage was the top priority. Now, it's keeping the credit cards."
He said one reason is some homeowners think that with all the foreclosures, there will be programs to help them when they buy again.
It usually takes three years of perfect credit payments after a bankruptcy before someone's credit score is high enough to buy a home. Recently, people could buy a home again two years after a foreclosure. Market risk is transferred to the party that has the most money in the investment. While the profit lies absolutely with the title holder (you) the rsk of a large market drop rests with the lienholder (the bank). Loan workouts or renegotiations are being pursued by banks in order to save that investment. A higher loan amount allows the home owner to pursue an arbitrage strategy with the saved down payment money, increasing his liquidity, tax advantages, total return, and ultimately...safety of principal. I want to be clear here. I'm not advocating that ANY homeowner simply "walk away" from a mortgage obligation. I'm pointing out the logical conclusion that if lower down payment are more risky to banks, then they are safer for the borrower.
Many San Diego homeowners are facing the prospect of foreclosure. That doesn't have to happen if you have plenty of equity in your home. Rising food and fuel prices, combined with a tightening credit environment left San Diego homeowners with few options when trouble came knocking at their door. The implosion of most sub-prime lenders pulled the rug out from under those folks who suffered "life events". The three D's: death, disability, and divorce are the major contributors to foreclosure. While the press reports that foreclosures in San Diego are rising because of ARM adjustments, we know that the three D's are far more severe to a famiiy's financial well-being than a higher mortgage payment. Help is available to San Diego homeowners with a substantial equity position. The "new sup-prime mortgages" aren't new; they've been available in California for decades; private mortgage lenders. Private mortgage lenders are wealthy individuals or pension funds that understand San Diego real estate. They realize that housing prices won't free-fall forever. Most private mortgage lenders are willing to lend up to 70% of your home's value... REGARDLESS OF YOUR CREDIT HISTORY Have you received a Notice of Default on your property? If you can demonstrate an ability to repay a loan, we may be able to help you out of this temporary situation. Our private mortgage banking and brokerage specialists will analyze your property, review your finances, assess the risk of the extraordinary event thatput your loan into default and offer a financing solution to restore your good credit. These loans aren't cheap money. The lender is taking on considerable risk in these loans and wants to be compensated for that risk. Rates of 12% are not uncommon. Fees of 2-4% of the loan amount are not uncommon. A good rule-of-thumb for the loan amount you'll need is: - Determine your pay-off amount for your mortgage. That is best calculated by adding the most recent balance and one monthly mortgage payment.
- Add in any foreclosure costs (this can be obtained from the trustee)
- Add in any back property taxes.
- Multiply that amount by 1.05%
This should be the loan amount you request from a private mortgage lender. If you divide the requested loan amount by the property value, and the number is less than .7, a private mortgage may be available for your San Diego County home. You should expect a mortgage payment of 1% of the new mortgage loan amount. We've been arranging private money mortgages for San Diego home owners since 1984. Yo can contact me at (858)-777-9751 or apply online.
 I'm bullish, long-term, on coastal California real estate- that's no secret. The underlying demographics are still positive for California; more people will be moving in than moving out, over the next 20 years. Aging baby boomers yearn for warm climes in retirement. While California has its share of problems, it is still the "promised land" for many Americans.
Southern California is getting hammered. Housing prices in San Diego County have dropped like a ball off a table. While tony communities like La Jolla and Rancho Santa Fe have held up, towns like Oceanside have experienced severe declines. Two "beach towns" we like, in San Diego County, are Oceanside and Imperial Beach. We're "value investors" and have been since our days on Wall Street. Benjamin Graham and Warren Buffett "speak" to us. We regard California beach towns as "blue chip" stocks. Today, thos "blue chips" are becoming affordable. My daughter's theatrical debut, at The Star Theater, afforded me a Saturday afternoon in Oceanside. As I looked out the window of the Jitters Cafe (free wireless), I saw THIS sign. I had to snap a picture of it! While Hollywood HIlls offers a "tour of the stars' homes", Oceanside offers a tour of foreclosed homes. I don't begrudge the REALTOR a little creative marketing; in this market, a "foreclosure tour" is appealing to value investors.
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Brian Brady- America's #1 Mortgage Broker
San Diego, CA
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