Profitable Podcasting: My Equipment - 04/30/07 02:52 PM
My friend, Bill Archambault, asked me:
Brian,I just listened to your pod-cast with Jeff. I enjoyed the one with the hard money brokers, too. How do you do you do these? I'm curious about the software, not the interview, you do that very well.
Well, anyone who knows me, knows that I'm not really a propeller-head.  It takes patient people to teach me how to use technology.  If they can walk me through it, I can grasp it and use it.  Greg Swann taught me how to purchase the right equipment and use it in about 15 minutes.
 
Here was my response to … (23 comments)

Termites Ate The Loan For My Long Beach Home - 04/28/07 11:53 AM
Can the presence of termites screw up a home loan?  You betcha they can.
Dian Hymer, an author on Inman News, writes this about termite clearances in her column :
In this era of consumer awareness, most buyers require a current termite inspection of a home before they'll agree to buy it. However, a termite clearance is not always part of the agreement. Whether or not a termite clearance is required to close a home sale depends on the buyer's lender and on the terms of the agreement negotiated between the buyer and seller.
Buyers who purchase a home using an FHA … (6 comments)

Active Rainer, Greg Swann on Fox News for Opinion About Zillow.com - 04/25/07 09:58 AM
Active Rainer, Greg Swann, designated broker of Bloodhound Realty in Phoenix, AZ, was featured on Fox News this morning.  Greg was interviewed about the showdown between Zillow.com and the Arizona Legislature.
Greg commented about the bill that died in the Arizona House of Representatives that attempted to "outlaw" the "Zestimates" produced by Zillow.com.  
Greg further commented on the inaccuracy of the "Zestimate" claiming that it could never be an accurate valuation because:
1- It relies on historical rather than market data
2- The Zestimate can't inspect the house and physical differences between homes.
Greg did comment that the Zestimate is a tool for homeowners … (17 comments)

Certain Lenders Won't Finance My Downtown Long Beach Condominium ? - 04/25/07 01:06 AM
So, you're ready to buy a condominium in Downtown Long Beach, CA ?  Did you know that apart from the traditional underwriting guidelines, the collateral (or property) you're buying has to be reviewed, also?  The largest buyer of home loans, Fannie Mae, has strict eligibility requirements for condominium projects.  In fact, if the property you're buying does not meet these eligibility guidelines, it may be deemed as "non-warrantable' which means FannieMae won't put its "seal of approval" on the loan.  This means the loan is less marketable when it gets sold to Wall Street.
The result?  You may not get the best … (4 comments)

Don't Get Caught Short of Cash When Buying an Historic Long Beach Home - 04/24/07 11:38 PM
I have helped many homeowners in California and Arizona finance the purchase of an historic home.  In Long Beach, CA, there are many areas are designated as historical districts.  Their historical status may give you, the potential homeowner, gain a little more than a roof over your head.   Their statesman-like beauty, the stories that come with the home, and best of all, they may be qualified for favorable tax status under the Mills Act.
Laurie Manny, nationally known, Long Beach Realtor, answered a few questions for me about historic homes in Long Beach. 
"When you enter into a contract to purchase … (2 comments)

The Verdict? Guilty of ARMs Dealing - 04/24/07 10:53 AM
I first heard of the term “equity management” in 2003.  I heard Barry Habib discuss this concept at a seminar at the Del Mar Racetrack (critics, please refrain from pointing out the obvious irony).  My first thought was “Cool, they have a name for it now!” 
You see, I am an ARMs dealer and have been since 1996. 
My background was on Wall Street as a financial consultant for two major wirehouses.  I learned about financial planning in Plainsboro, NJ.
I met a man from Wachovia Bank (nee World Savings), Mike Cushing, in 1996. Mike taught me how to properly analyze negative … (8 comments)

Getting a Home Loan You Love: A Series - 04/13/07 11:04 AM
I wrote a four-part series about how to get a home loan:
Neatness Counts
Neatness Counts discusses how a borrower should compile their credit and income package before calling originators.
Shop for Originators; not Home Loans 
Shop for Originators gives the consumer eight sources for finding loan originators 
The Seven Questions an Originator MUST be able to Answer 
Seven Questions separates the wheat from the chaff and tell you how to know if your dealing with a pro.
Loving Your Home Loan
Loving Your Home Loan discusses how to negotiate pricing with an originator, the concept of transparency in fees (including the yield spread premium), and how to pit … (12 comments)

Zillow.com: The Insidious Premise That Invades Your Privacy - 04/07/07 05:55 AM
Two great posts on Sellsius that get the old noggin working this weekend:
The Human Listing Site: Zillowfying Your Privacy Under the Guise of TransparencyThis tongue in cheek entry suggests that in the interest of transparency, a site could be created compiling all public information about individuals.  Did you get thrown into the pokey in college?  Posted on the net. It brings to light the loss of privacy that technology breeds.
Is Zillow Using Our Homes As Bait?This article attracted a lot of discussion about Zillow's insidious premise; you aren't entitled to privacy about your asset.   Anybody, anywhere can reveal issues about your … (22 comments)

HARD MONEY IN CALIFORNIA: Introducing Julia Wei - 04/05/07 04:20 PM
I had an opportunity to trip across DirtLaw Blog some 3-4 months ago.  Julia Wei is the author of that weblog and a real estate  attorney in the Bay Area.  She has recently joined Active Rain Real Estate Network and will hopefully share more of her knowledge here.
Here is the comment I left on my "association" box for her:
Julia writes Dirtlaw Blog. In my opinion, this is the best resource about "hard money" rules and regs. It's not a sexy subject matter but Julia writes with an entertaining style that reveals her ability to interpret legal matters for the average loan … (6 comments)

What the hell is Zlogging? - 04/04/07 09:40 PM
Do you Zlog? Let me define Zlogging on Zillow.com for you.
Zillow solicited listings this past fall from Realtors and announced the Zillow Real Estate Guide (formerly known as the wiki). I was a huge critic of the practice of posting listings because I felt their intentions were disingenuous. I did notice a cool “back door” to their changes that could promote the businesses of Realtors and loan originators. That back door was the Zillow real estate wiki and I saw it as an opportunity to use Zillow as a personal weblog. So, a Zlogging I did go.
GET THE REST OF … (12 comments)

A Realtor's Guide to "Farming" Zillow.com - 04/04/07 12:43 AM
Zillow.com announced new features today that include a social networking aspect that allows homeowners, neighbors, lenders, and Realtors to directly interface with the consumer. 
READ: Zillow.com New Features: "Ask Questions, Share Answers"
My inital reporting and analysis caused me to reverse my thougts that Zillow would compete with the real estate brokerage community and is embracing their earlier stated goal of becoming a highly specialized media company fueled by advertising.
READ:  Active Rain to get competition ?
           Smoking Cigarettes is Cool !
           Here come the Zmokers once again!
Why the reversal of opinion?  Was the slick presentation provided by the … (10 comments)

How Mortgage Originators Might Use Zillow.com - 04/04/07 12:02 AM
Zillow.com announced today their new features which turns them into a social networking site on the neighborhood level.  The full text of the press release is here.  My initial reporting was here with rudimentary analysis.
There are three ways I might see a mortgage originator benefit from the social networking feature Zillow.com added to their site:
1- Leaving tracks on the desired zip code with the intent to market directly to the consumer.  As a participant in the Q&A section of properities, an originator can post all listings in a particular zip code,  She can further provide financing information to correspond with the listed … (6 comments)

Active Rain to get competition ? - 04/03/07 11:19 PM
Zillow.com announced that it is offering some new features to its website that draws in the professional real estate agent and lender to interface more directly with the consumer.
READ:  Zillow.com New Features: "Ask Questions, Share Answers"
Zillow started out as a consumer portal for real estate information centered on its highly controversial Zestimate.  The Zestimate is an automated valuation model which attempts to give a consumer property value information based on historical data from county tax records.  This tool was highly criticized by the real estate community as irresponsible and inaccurate.  There was a growing fear that Zillow was trying to … (55 comments)