James Holmes Real Estate and Mortgage Blog

David Neagle’s Free Coaching Call Can Yield Resuts for Real Estate Professionals

Chartwell Mortgage Corporation — Wed, 01 Jul 2009 04:46:02 -0500

I have been a client and student of professional coaching programs for more than a decade making the transition from virtual learning programs to personalized coaching to make quantum leaps in the growth of my businesses. Once I gained a more complete understanding of the value of professional coaching, the financial investment in programs where placed into a clear perspective.

I have worked with a variety of remarkable people in amazing programs which account for much of what I now teach in my own coaching practice built upon the guidance given to me by my coaches. As a result of these tremendous experiences I continue to seek out opportunities to engage in and share programs from other coaches, teaching new topics, or entirely new methods in order to make major advancements in my business and life.

I was made aware of the work of Master Coach David Neagle by my friend and colleague Mary Kay Morgan. Having just completed Mr. Neagle's "Art of Success" program, I am eager to learn more and therefore am excited to share a unique opportunity to engage in a free coaching session conducted by David Neagle on July 8, 2009 The program in called "Recession Rescue with Results," and it comes at the perfect time for business owners of all kinds including those with traditional businesses, Realtors, Mortgage Bankers, Sales Professionals, Attorneys, Wealth Advisers, Internet Marketers, Network Marketers, Direct Sellers, Service Providers, Product Developers, and anyone wanted to create more wealth and success in a challenging economic environment.

On this Mega-Announcement call, you’ll also learn:

The single biggest and very real economic change affecting entrepreneurs that has already taken place in today’s economy, but that no one is thinking about, let alone accounting for.
What a Winter economic climate means for: YOUR marketing, YOUR price points, and the importance of “tangible deliverables” within YOUR offers.
Why maintaining the status quo in the current climate, especially in your business model and marketing strategy, is a recipe for ruin.
How and why YOUR business structure and positioning might actually be blocking big money from flowing in … AND what you can do immediately to open the doors to receive! (READ: Make more sales!!)

For me, this is about living my life purpose, my core beliefs and what I teach to my private students every day: That the creation of abundance in all forms is directly tied to WHO we’re BEING and the impact we’re creating (in terms of service to humanity) in the world. To reserve your free spot on the call follow this link: Make Your Reservation Here

David Neagle knows how to help you achieve whatever it is you desire in life. When a tragic accident nearly took his life many years ago, David awakened to the potential previously untapped within him. He made a decision that day to begin the journey responsible for changing his entire life, and now the lives of thousands of others.

After his brush with death, David began to study his own potential. In only 12 months, and with one simple change in his thinking, he tripled his income! Within the next two years the former high school drop-out was an executive corporate manager, a stock investor, and a business owner! David continually sought new mentors with each new level of success he attained. He began to study every great person in history! It wasn't until David began studying The Science of Getting Rich, by Wallace D. Wattles, that he fully understood the transformation he'd undergone. Wattles' book uncovered the exact change in David's thinking and in his attitude that had gotten the ball rolling; to create his unstoppable success. Biography Taken from David Neagle's Website I am personally going to be on the all July 8th and I will be participating in the complete training program that is being made available in a unique, high value format. If you would like to learn more visit: Make Your Reservation Here

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James Holmes, Global Team Builder, Coach and Trainer, combining online and offline techniques to help you grow your business. To request a free 30 minute consultation contact James by phone at 303-523-9503 or email at james@AskJamesHolmes.com

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Note: If you’d like to reprint this article on your blog or in your newsletter you have permission to do so as long as the copyright information and the resource box above remains with the article.

The Role of the Sub-Conscious Mind In Challenging Markets

Chartwell Mortgage Corporation — Mon, 28 Jan 2008 14:45:32 -0600

During challenging markets one discipline that is often overlooked is personal development and the value of maintaining a prosperous mindset. Avoid the temptation to commiserate about the conditions of the market and choose to become a stronger person and professional through self development and taking correct actions on a daily basis. I am excited about the establishment of a formal platform which will empower me to continue doing what I have done for years; assist my referral partners, clients and associates in developing a prosperity mindset, with the intention to create wealth and abundance in their businesses and personal lives.

Many of my Realtor partners and mortgage banking associates have benefited from my weekly "Wealth and Abundance" conference calls, so I am now opening the calls up to the general public. Challenging markets cause all of us to double our efforts to take the correct actions to produce the results we desire. Often the role that the sub-conscious mind plays in predicting our outcomes is overlooked and therefore our efforts at times fail to produce the results we seek.

Join me for my weekly call and take advantage of the resources provided as part of the Optimum Wealth System.

You can listen on line - Here is a link to the free pod-cast:

James Holmes Wealth and Abundance Call

You can listen by telephone - Here is the number and ID:

(724) 444-7444 Call ID: 13344

In addition, my personal coach and mentor Joe Schroeder has just released his latest and perhaps most extraordinary training entitled "The Temple of Super-Mind," which is training designed to teach you how to turn your subconscious mind into a tool for success. Joe Schroeder says, "Forget about the power of positive thinking; it doesn't work because it depends on motivation as a foundation and has little to do with the science of creating wealth and abundance in life."

The "Super-Mind" program is a complete coaching program and will become the life-work of Joe from this point forward. To make it easy to get started, Joe has created a introductory course that includes 2 audio CDs and a massive, content rich workbook for only $97.00delivered to your home. This is NOT a e-book and MP3 program; you will have both the workbook and CDs delivered by first class mail. I am sharing this with all of my partners and associates.

To order the "Super-Mind" introductory program CLICK HERE and you can use any major credit card or Pay Pal to complete your purchase. You will then be invited into a powerful community of mentors, doers, achievers and you will transform your business and your life by creating wealth and abundance.

For Free Sample Pages from the workbook CLICK HERE

The weekly Wealth and Abundance conference calls are designed to help you realize your full potential and dreams" using the power of create thought.

Learn:

*How to recognize gaps in your life
*How to help others see the gaps in their lives
* How to help others see the value in taking action to close the gaps
* How to ask THE RIGHT QUESTIONS to convert your prospects into clients for life
* Learn the secret behind "The Secret" - correct actions

What you will learn can be applied to your full-time career and every other aspect of your life. I am committed to helping you succeed and what you will learn will help you live the life God intended you to have.

I hope that you will join me each Friday and if you find value in the call be sure to sow increase into another persons life by telling them about the call.

Title: Wealth and Abundance Call presented by James Holmes

Date: Every Friday

Time: 1:00 AM - 2:00 PM EST / Noon - 1:00 CST / 11:00 - Noon MST / 10:00 - 11:00 PST

Contact James A. Holmes, CMPS, CML, Director of Private Mortgage Banking, Cherry Creek Mortgage Company or by calling me Toll free at 888-850-6100 or email at: james@privatemortgagebankinking.net

How to Thrive is a Challenging Market - Part 2. Patience

Chartwell Mortgage Corporation — Mon, 28 Jan 2008 13:55:15 -0600

In the first installment of my blog series "How to thrive in a Challenging Market," I wrote about the value of having the perspective in order to settle your client's fears with facts allowing them to gain perspective as a buyer or seller. Part 2 will cover "Patience," which is an essential ingredient of success in a challenging market.

How to Thrive in a Challenging Market - Part 1. Perspective

#2. Patience

I want to stress the importance of being patient as you navigate these choppy waters in an effort to provide your clients with the best advice on how to proceed with their sale or purchase.

A. First be patient with yourself by giving yourself little grace in evaluating your production numbers and pull through percentages as you build your business in a difficult environment. Remember that fear is infectious and by equipping yourself with a firm knowledge of the factors that have lead to the present mortgage meltdown and ensuing issues; you can instill a sense of confidence among your client base and demonstrate that you are the expert in your market. As you go about planning your work be sure to focus on winning the day.

B. Be patient with your clients, agents on the other side of the transaction, the lender, seller or buyer. They will bring their own set of fears to the transaction and they will without a doubt form opinions based on what they read in the media regardless of how inaccurate their interpretation may be; this is were your expertise comes in to assist them in determining what applies to them and what does not apply to them.

C. Be patient with the process from start to finish. Regardless if your client came to you by personal referral or other methods; you have an opportunity to slow down the process to the extent that there is greater understanding and more realistic expectations established.

Here is a strategy to assist you in creating and encouraging patience in a difficult market:

1. Choose a reliable news sources like CNBC Realty Check, The Wall Street Journal or www.SmartMoney.com to ensure that you are gain opinions from industry professionals from an institution point of view. These news agencies cover the topic daily and welcome contributors with opposing views followed by practical recommendations for the consumer.

2. Practice the daily formula of 5+5+5 to win the day. Make 5 outbound phone calls to your client base, write 5 personal notes to your clients or referral partners and send out 5 emails that are marketing oriented. Do this task first, prior to logging on and opening your email in box. Treat your inbound email as a reward for completing the task and winning the day.

Demonstrating patience will allow you to settle your client's anxiety and build their confidence. Part 3 will cover "Perseverance," which is a quality of character and an essential ingredient of success in a challenging market.

Contact James A. Holmes, CMPS, CML, Director of Private Mortgage Banking, Cherry Creek Mortgage Company or by calling me Toll free at 888-850-6100 or email at: james@privatemortgagebankinking.net

How to Thrive in a Challenging Market - Part 1. Perspective

Chartwell Mortgage Corporation — Fri, 09 Nov 2007 12:16:04 -0600

Isn't it striking how every morning as you wake up to the morning news all you hear is how bad the real estate market is, or how the sub-prime mortgage melt-down has cost yet another CEO to bite the dust, or how the equity crunch is solely to blame for the woes of the economy. My advice is to start your day with positive personal development and forget about watching the morning news; you will approach your day with a much more proactive "can do" attitude.

I want to share with you three golden nuggets that I picked up from one of the premiere real estate sales trainers in the country. Consider this, the person that shared these three key ideas recently lost his home, cars and most of personal pocessions in the San Diego wildfires yet he has ability to stay focused on the big picture - amazing. I hope that you will find these tips helpful in your pursuit of excellence in a challenging market.

#1. Perspective

To place our market environment into proper perspective you must know the numbers; your personal historical production numbers, the historical numbers for your immediate market and the historical numbers for the broader national market. If you have been a real estate agent for less than eight years, you only know how to function in a growing real estate market, let me say that again; if you have been a real estate agent for less than eight years, you only know how to function in a growing real estate market.

The 2007 real estate numbers will come in as the 4^th best market based number of transactions closed since 1952, it may not feel like it but those are the facts. Here are the numbers based on sales closed by year: 1988 3.5 million; 1991 3.1 million (-10% lowest in 20 years); 1998 4.2 million (start of the boom); 2002 4.6 million; 2004 5.7 million, 2005 7.1 million (speculative buying begins as 40% are non-owner occupied transactions); 2006 6.4 million; 2007 5.5 million estimated.

Consider these facts in the wake of the overly hyped media view of foreclosures: 1.) In the US 30% of all homes are free and clear of mortgage debt. 2.) The total US mortgage market is 9.9 trillion Dollars of which 75 billion is sub-prime debt or .0075% of the total market.

Having the proper perspective will allow you to avoid being stricken with "market apathy," in your business and allow you to thrive as many of your competitors flounder. By having the proper perspective your buyers and sellers will view you as the expert and as someone capable of offering viable solutions to satisfy their objectives. If you have not developed the proper perspective it will be impossible to translate perspective to your clients.

So what do you need to know about your market?

Number of active listings 2006 compared to 2007 (month to month)
Average listed price 2006 compared to 2007 (month by month)
Average sales price 2006 compared to 2007 (month by month)
Average sales price 2006 compared to 2007 (calculate listed to sale price ratio)
Average 30 year Freddie Mac interest rate 2006 compared to 2007 (present month)

Once you have the market numbers, develop your personal numbers and commit them to memory. If you know your numbers you can control your emotions.

Average sales price
Average commission (both dollar amount and percentage)
Average monthly expenses

Having the proper perspective will allow you to settle your client's fears with facts allowing them to gain perspective as a buyer or seller. Part 2 will cover "Patience," which is an essential ingredient of success in a challenging market.

Contact James A. Holmes, CMPS, CML, Director of Private Mortgage Banking, Cherry Creek Mortgage Company or by calling me Toll Free at 888-850-6100 or email at: james@privatemortgagebankinking.net

AmeriDream Down Payment Assistance Program Window Closing

Chartwell Mortgage Corporation — Tue, 30 Oct 2007 15:52:44 -0500

The mortgage lending landscape continues to evolve week by week and another important development relatesto down payment assistance programs. Property seller-financed Down Payment Assistance Programs known as DAPs are no longer an eligible source of funds for FHA loan programs.

One such program known as The AmeriDream program www.ameridream.org/ has been granted an extension through February 29, 2008. This will allow time for borrowers who had planned to use this resource to enter lock, close and fund transactions with in the migration time-line.

Borrowers seeking 100% financing continue to see their options narrow as the industry adjusts in the wake of high foreclosure rates and the credit crunch.

Migration Time-line

Last day to for buyer and property seller execute purchase sales contracts using AmeriDream programs: February 29, 2008

Last day to lock loans under previously posted guidelines: February 29, 2008
Last day to deliver loans under previously posted guidelines: March 31, 2008

These restrictions DO NOT apply to a variety of State and County down payment assistance grants and loans provided in local markets. To learn more about eligible programs refer to my prior post on this blog or visit my Real Estate and Mortgage Blog at http://www.privatemortgagebanking.net/

CMPS Institute Committed to Excellence in the Mortgage Industry

Chartwell Mortgage Corporation — Fri, 12 Oct 2007 13:43:01 -0500

This year I completed a process which resulted in my being awarded the designation of Certified Mortgage Planning Specialist(CMPS) by the Certified Mortgage Planning Institute http://www.cmpsinstitute.org/

The process included a preparatory exam followed by a two day session with a number of the most highly respected trainers in the mortgage planning industry sharing best practices and preparing us for the accreditation exam. It was a very rewarding experience and the knowledge gained has been used to provide expert advice for our clients. I want to share the core commitments of the CMPS Institute, which we have adopted fully as part of our membership in the institute.

Statement of Commitment:

In delivering mortgage planning advice to home owners, home buyers and real estate investors, CMPS members are committed to:

1. Ask questions and listen to our clients in order to fully understand their needs.
2. Create mortgage solutions that complement our clients' overall financial strategy, and allow them to most effectively accomplish their short and long term financial goals.
3. Be sensitive to the fears that many homeowners have about obtaining a mortgage loan and earn their confidence as a trusted advisor.
4. Respect our clients' time and minimize the amount of effort required of them by applying our knowledge, experience, and resourcefulness.
5. Use state-of-the-art technology to complement our customer service, making adjustments when necessary to avoid overwhelming our clients who are less technically proficient.
6. Communicate regularly and proactively with our clients to keep them informed of the status of the loan and to reduce the stress that is associated with uncertainty.
7. Ensure smooth, on time closings with anticipated costs and terms.
8. Provide our clients the luxury of home loans in the future with little effort on their part, by means of an Annual Mortgage Review.
9. Measure our success by our client's willingness to confidently recommend us.
10. Take full responsibility for our actions and be honest at all times.
11. Seek to improve the quality of service we provide by encouraging each client to critically evaluate our performance.

My goal is to continually grow as a mortgage professional and to seek out meaningful accreditation to demonstrate my commitment to excellence for both my referral partners and clients. As with many Realtors, the letters behind our names represent expertise within very specific areas of expertise in our industry and further demonstrate the level of commitment to professionalism within our industry.

My 20,000 Point Salute

Chartwell Mortgage Corporation — Fri, 12 Oct 2007 12:25:55 -0500

I discovered Active Rain while snowed in for a few days last winter at the recommendation of my friend and Active Rainer Ken Deshaies www.activerain.com/kentheauthor. I have loved being part of the Active Rain Community having met many wonderful and passionate professionals along the way. Blogging has become a real joy for me and it has been rewarding to have found many new clients and exchanging ideas with fellow industry professionals as a result of my blogging efforts.

Reaching 20,000 points is just a baby step - like going from crawling to walking. Small as it may be, the step represents allot of blogging, great exchanges of ideas, many comments on the expressions of others and acknowledgment from your peers that your voice matters. I am looking forward to the next twenty-thousand and growing my network among the rainers.

Thank you for counting me among those who grow and thrive on Active Rain.

I have come to believe that in challenging markets the cream always rises to the top and I salute all of the great Realtors and fellow industry professionals that participate regularly as part of the Active Rain community. Collectively you are true stars and represent the best our industry has to offer.

Best wishes for a life filled with abundance!

James A. Holmes, CMPS, CML

The New Mortgage Market Reality for Realtors, Buyers and Sellers

Chartwell Mortgage Corporation — Fri, 12 Oct 2007 11:29:26 -0500

I have posted a number of blogs over the past few months concerning the mortgage industry meltdown and the resulting impact on home-buyers and Realtors across the country; among the blog post are theses:

Realtors, Are You Sure The Buyer Is Qualified to Buy Your Listing?

Note to Realtors: The Lender Holds Your Paycheck

The Winds of Change are Blowing in the Alt A and Sub-Prime Markets

Two More Examples of the Lender Holding the Realtors Paycheck

Realtors - Please Don't Throw Your Lender Unders the Bus.....Maybe

Although I have felt from the beginning that the problem was much more serious than many thought and proved to be more serious than I would have predicted. I knew that this problem would extend beyond the sub-prime market and that it would bring about a fundamental change in the way Realtors must act to protect their buyers and sellers. The following is a sampling of recent closures and guideline announcements from major national lenders including many of the largest in the industry during the most difficult days of the meltdown.

RFC changed their Jumbo A, Expanded Criteria, and Payment Option pricing adjustments. WAMU ceased doing any low-doc transactions whatsoever with FICO's less than 680 and LTV's greater than 65%. MortgageITdiscontinued their No Ratio, No Doc, and SISA loans for several of their products. Greenpoint stopped taking locks entirely on their Alt-A Fixed and ARM products. Wells Fargo worsened their Jumbo prices by 1 point. Countrywide changed their guidelines and pricing adjustments for their Expanded and Jumbo product lines. Indymac closed their bulk (conduit) desk. Taylor Bean and CSFB are no longer doing 2^nd mortgages. Taylor also scaled back their first lien, Alt-A Fixed, Hybrid ARM and Option ARM programs. AstoriaBank tightened their guidelines and engaged in a mid-day price change on their ARM's for the worse, in spite of a nice improvement in A-paper product. CitiMortgage changed their pricing adjustments for non-agency ARM loans, and also changed the pricing structure for SIVA, NINA, and several other types of loans. More news.... Option One: 185 account executives around the country. All Option One loans have to close by the 17th of this month and fund no later then August 31st. Missing these deadlines will result in your loans being denied or changed for the worse. If you have any loans in the pipeline now, please get them closed ASAP. NovaStar: Suspended funding on Friday - expected to issue a statement tomorrow. Aegis: Stopped funding - expected to issue a statement soon. National City Mortgage: Suspended all second lien applications. This company has been one of the nation's leaders in home equity loans - big problem. Countrywide: Significantly cut back Reduced, Super Streamline, No Ratio, NINA doc types Wells Fargo: Announced elimination of Stated/Stated second liens today.

The good news is that although the sky is VERY cloudy, you can notify "chicken little" that it is not falling. In fact in time there are clearer days ahead for borrowers seeking sound financial guidance from their mortgage advisers and for Realtors seeking a more stable and reliable environment for their sellers and buyers. There was massive buying from a large percentage of Realtors and lenders to simply get the deal funded with little thought to the long term consequence of lax lending standards and relatively easy access to 100% financing to those with moderate credit scores and modest cash reserves. Lesson learned. Ok, with that being said what can a savvy, professional Realtor do to protect their client? Here are the recommendations I am sharing with my Realtor partners:

1. Partner with a competent mortgage professional that monitors daily market changes and is aware (they should be coming to you and warning you, not learning this news from you) of the fallout in the market and the changes to underwriting policies and program guidelines.

2. If you are the listing agent, require that your lending partner be allowed to speak with the buyer's lender (the buyer will have to provide permission) in order to validate the pre-approval letter. Although the lender cannot share privileged information with a third party without expressed written permission from the borrower, they can generally provide support for the borrowers ability to qualify based on program guidelines as represented. If the buyer's lender misstates program guidelines or raises any-other red flag, your trusted lender can work to resolve the issue from day one vs saving your transaction when it crashes the day before closing.

3. Do not be too easily swayed by the news about the industry in the popular press. The situation in the capital markets is indeed very serious; however, I have noticed that the popular media would lead you to believe there is no money to lend and that the dream of homeownership is no longer obtainable. Not true! A well informed mortgage consultant armed with the resources offered by FNMA, Freddie Mac, FHA, VA among others can navigate the choppy waters and find programs that work for well qualified borrowers.

4. Learn to trust your lender and support his or her recommendations when advising your clients. Work together and recognize that not every individual with the desire to own a home is eligible to do so immediately. Put together a financial coaching program in association with your lending partner to help those who do not qualify today, but are willing to work with you to correct credit problems or save money for a down-payment on a future purchase. No does not have to mean no forever and you will earn a client for life by making a strong commitment to helping less qualified individuals arrive at yes.

For more tips and best practices visit my website at: http://www.privatemortgagebanking.net/%20For For Mortgage Programs contact James A. Holmes, Director of Private Mortgage Banking, Cherry Creek Mortgage Company or by calling me Toll Free at 888-850-6100 or email at: james@privatemortgagebankinking.net

I want to invite you to preview an opportunity

Chartwell Mortgage Corporation — Sun, 02 Sep 2007 18:20:32 -0500

Hello My Friends -

I hope you are enjoying propsperity in your life. As you may know through my contributions to Active Rain; I have been blessed with success in both my real estate and mortgage businesses and remain very busy and I had not been looking for something new to add to my plate.

A very good friend and colleague introduced me to a new company in a great industry and a tremendous opportunity to create a significant six figure income through a semi-passive residual income stream. I have long been a reader of the books by Robert Allen "Multiple Streams of Income," Robert Kiyosaki "Rich Dad, Poor Dad,"and more recently Gary Keller's "Millionaire Real Estate Agent." SO I WAS OPEN MINDED.

After two months I am somewhat surprised to tell you that I will never have to make another mortgage payment for the rest of my life and that is only the beginning.

To Learn More Visit:

http://www.jamesholmesonline.net

Have a safe Labor Day!

James

Visit my website to learn more about Agel Enterprises:

http://www.AgelUniversal.net

Real Estate Investment Strategies: County Tax Lien Sales

Chartwell Mortgage Corporation — Thu, 12 Jul 2007 19:33:35 -0500

When it comes to investing in real estate there are many avenues to explore when identifying a property, financing structure or hold and exit strategies. One option for many investors who have limited cash reserves or who desire a limited risk strategy could be county tax sales.

County tax sales provide an opportunity for investors to purchase liens resulting from delinquent property taxes.

An investment in a property tax lien should be viewed as a potentially long-term investment with a predetermined return on investment (ROI) not as a pure real estate investment. Keep in mind that you are not purchasing an ownership interest in the property; you are purchasing a lien interest in the property that may convert to vesting in the title in rare cases.

Here are some facts to help you understand what a tax lien sale investment is, and perhaps more importantly what it is not:

When you purchase a tax lien sale certificate on property, you become a lien holder on the property. In essence, you loan funds to the owner to pay taxes.
You purchase the tax lien, not a deeded interest in the property. In the majority of cases the property owner redeems the lien by satisfying the delinquency and the deed does not transfer. For example in Douglas County, eventual transfer of deed has occurred in less than 2 percent of all purchases.
Investing in tax liens through a purchase at from a county tax lien sale should be viewed as a secured investment with a pre-established interest rate. The annual interest rate is set at nine points above the federal discount rate. The time-line for payout may be long-term; redemption of the certificate can occur immediately upon the Treasurer's Deed being issued or up to 15 years from the date of sale, whichever comes first.
The State Banking Commission determines the rate of return. The annual interest rate is set at nine points above the federal discount rate as a certain date. The County Treasurer's Office operates the sale on a "all sales final, buyers beware" policy. The county will make every effort to remove a property with bankruptcies, FDIC or RTC connections, although they will not guarantee a property to be build-able or desirable. The bottom line is that you must know what you are buying.

2007 - COLORADO COUNTY PROPERTY TAX LIEN SALES

ADAMS COUNTY - November (TBD), 2007 Poss:INTERNET BASED SALE

http://www.co.adams.co.us/index.cfm?d=standard&b=1&c=14&s=107&p=257

ARAPAHOE COUNTY - November 14-18, 2007 INTERNET BASED SALE

http://www.co.arapahoe.co.us/Departments/TR/TaxLien/TaxLienInfo.asp

BOULDER COUNTY - November 30, 2007 http://www.co.boulder.co.us/treas/tax_sale/tax_lien_sale.htm

BROOMFIELD COUNTY - November 9, 2007 http://www.broomfield.org/centralrecords/TaxSale.shtml

CLEAR CREEK COUNTY - November 2, 2007 http://www.co.clear-creek.co.us/Depts/Treasur/tax_info.htm

DENVER COUNTY - (November (TBD), 2007 INTERNET BASED SALE

http://www.denvergov.org/PropertyTaxInformation/TaxLienSaleInformation/tabid/425589/Default.aspx

DOUGLAS COUNTY - November 15, 2007 http://www.douglas.co.us/treasurer/Tax_Lien_Sale_Information.html

EAGLE COUNTY - November (TBD), 2007 http://www.eaglecounty.us/treasurer/taxSale.cfm#4

ELBERT COUNTY - November (TBD), 2007 http://www.elbertcounty-co.gov/dept_treasurer.asp

EL PASO COUNTY - October 30-31, 2007

http://trs.elpasoco.com/NR/exeres/EBE390F2-ED28-4177-AAED-E239D648CDB9,frameless.htm

GILPIN COUNTY - November 14, 2007

http://www.co.gilpin.co.us/Treasurer/2006%20Tax%20Lien%20Sale/TaxLienSale.htm

JEFFERSON COUNTY - October 25-29, 2007 INTERNET BASED SALE

http://jeffco.us/treasurer/treasurer_T68_R9.htm

LARIMER COUNTY - November 14, 2007

http://www.co.larimer.co.us/treasurer/taxsale.htm

PARK COUNTY - October (TBD), 2007

http://www.parkco.us/treasurer.htm

PITKIN COUNTY - November 1, 2007

http://www.aspenpitkin.com/depts/30/taxes.cfm

PUEBLO COUNTY - November (TBD), 2007

http://www.co.pueblo.co.us/treasurer/taxlien_info.php#P2_379

SUMMIT COUNTY - October 17, 2007

http://www.co.summit.co.us/Treasurer/tax_lien_info.htm

TELLER COUNTY - NOVEMBER 2, 2007

http://www.co.teller.co.us/Treasurer/treasure.htm and

http://www.co.teller.co.us/Treasurer/TAXSALEINFO.pdf

WELD COUNTY - November (TBD), 2007 INTERNET BASED SALE

http://www.co.weld.co.us/departments/treasurer/treasurer_taxsale.html

To learn more about real estate investment strategies contact James A. Holmes, CMPS, CML. Cherry Creek Mortgage Company - Private Mortgage Banking. Visit www.PrivateMortgageBnaking.net

Douglas County Housing Partnership First Time Buyer Success Story

Chartwell Mortgage Corporation — Tue, 03 Jul 2007 19:13:20 -0500

I just settling down yesterday with my second cup of coffee and the morning paper and my day was instantly made. Denver Post reporter Joey Bunch wrote a story titled "Helping Workers Live Close," which addresses the challenges faced by many suburban communities across the country. In many fast growing suburban communities finding affordable housing is difficult and few communities have successfully developed programs to assist the would-be buyer.

The part that made my day was the fact the one of my clients, John Purchio, was highlighted and he was certainly one of our most appreciative participants in the program. Mr. Purchio fit the profile of many individuals who are nearly priced out of the marketplace, hard working with a desire to live within the community in which he works. Through the Douglas County Housing Partnership (DCHP), we are able to create leverage for the home buyer utilizing a five year interest and payment deferred second mortgage for up to $20,000. The proceeds can be used to cover the down-payment and closing cost.

We have worked closely with the DCHP for nearly three years and have funded 53% of the transactions closed through the program; making my office among the strongest supporters of the program. We have developed a system to take the prospective buyer through a stress free process to pre-qualify and obtain the assistance.

Step 1. Apply for pre-approval using our secure website at http://www.privatemortgagebanking.net/

Step 2. Attend a Free First-Time Home Buyer Class sponsored by the DCHP

Step 3. Meet with the DCHP to confirm eligibility and confirm the amount of assistance

Step 4. Find a home within the price range determined at the time of pre-approval

Step 5. Close on the purchase of your new home

The range of assistance is $14,900 or $20,000 based on the percentage of median income for the county earned by the home-buyer.

I love the real estate and mortgage industry; after-all we are charged with the task of helping others obtain their dream of homeownership and there are few moments more rewarding than closing with a first-time home-buyer. Having the ability to draw on tremendous programs such as those offered by the Douglas County Housing Partnership makes the dream attainable to a larger number of buyers.

To learn more about first time home buyer assistance programs throughout Colorado visit: http://www.privatemortgagebanking.net/

To read the Denver Post Story visit: http://www.denverpost.com/search/ci_6278354

For More tips and best practices visit my website at: http://www.privatemortgagebanking.net/%20For For Mortgage Programs contact James A. Holmes, Director of Private Mortgage Banking, Cherry Creek Mortgage Company or by calling me Toll Free at 888-850-6100 or email at: james@privatemortgagebankinking.net

Tips on How to Flip 30 Homes Monthly from the #1 Flipper in America

Chartwell Mortgage Corporation — Tue, 03 Jul 2007 08:00:17 -0500

As many of you know, I have been on an interesting journey since making my debut in Real Estate Reality Television by virtue of the HGTV hit series "My First Place." One of the greatest joys for me has been meeting a variety of new people who share my passion for real estate and my love for the emerging media called reality television.

I have had the good fortune of getting to know David & Melina Montelongo and Armando and Veronica Montelongo all from the A&E show "Flip this House," and successful real estate investors from San Antonio, Texas. As I have previously posted, I have had David Montelongo on my radio show and have posted his tips for real estate investors. Please see: One hour of education from an expert...PRICELESS. In addition, we are looking forward to participating in David and Melina's investor workshops this summer and fall in Texas.

There is something very important that I want to share with you today. Armando Montelondo has authored a new e-book titled "Flip it Now!" and as part of the launch Armando is making five pages available to you free of charge.

If you are interested in obtaining your five free pages of the book click on this link:

Armando Montelongo's E-Book Free Offer

Armando has also teamed up with Internet millionaire Joel Therien, president of http://www.hotconference.com/ a very popular website and has launched a new site Armando Montelongo . Armando Montelongo's new site is very different in that it allows people to communicate in real time audio and video conferencing in a secure environment. People can join free knowing that others on the site will enjoy learing about their opportunities.
The site is a social networking site catered to one market, entrepreneurial people and business opportunity seekers. "The site is there for all types of people who want to meet with others who have some of the same business interests" says Therien. The site caters to success minded individuals.

You can visit the site at:

Armando Montelongo Site

For More tips and best practices vist my website at: http://www.privatemortgagebanking.net/%20For For Mortgage Programs contact James A. Holmes, Director of Private Mortgage Banking, Cherry Creek Mortgage Company. or by calling me Toll Free at 888-850-6100 or email at: james@privatemortgagebankinking.net

Realtors, Are You Sure The Buyer Is Qualified to Buy Your Listing?

Chartwell Mortgage Corporation — Fri, 08 Jun 2007 05:27:53 -0500

Today, I was visiting with a Realtor who works in the same office of one my partner Realtors; he was sharing that he had put a million dollar listing under contract he had been marketing heavily to no avail for more that nine months. The long ordeal was coming to a successful conclusion at month's end as he anticipated the closing. I was feeling really good for him as the expression on his face was both relief and excitement until I asked a question - how is the buyer's loan going? He answered, "I guess ok, I haven't heard anything and assume it is fine."

This provided a great moment for sharing a "best practice" that is used by many of the Realtors I work with on a regular basis. A few months ago I published a post entitled "Note to Realtors: The Lender Holds Your Paycheck," which infuriated one Realtor. See: Note to Realtors: The Lender Holds Your Paycheck and Two More Examples of the Lender Holding the Realtors Paycheck. When a Buyer's Realtor presents a contract on a listing of many of my Realtor partners they require that the buyer allow me to speak with the lender who is providing the pre-approval for the buyer's financing. My role is to validate the pre-approval letter to ensure that it is worth more than the paper it is printed on. By speaking with the buyer's lender, I am able to understand the range of the buyer's employment, credit scores, cash reserves, source of down-payment and other factors that will contribute to a successful loan approval, closing and distribution of commission checks.

The reality is that the listing Realtor has a duty to both the seller and themselves to scrutinize a pre-qualification or pre-approval letter to ensure that the seller is not harmed when depending on what may turn out to be meaningless words on fancy paper. Technology in the mortgage industry has evolved to the point where most loan programs are underwritten instantly utilizing an automated underwriting engine such as FNMA Desk Top Underwriter or Freddie Mac Loan Prospector. Many Alt-A and Sub-Prime lenders use similar models to pre-underwrite files as well. As a result, a competent loan officer should have the ability to reasonably guarantee the success of the great majority of loan request. An automated approval is not final, but it certainly will eliminate the majority of buyers unlikely to obtain reasonable financing.

If your lending partner does not follow this practice, I would recommend asking them to do so in the future. Do as my Realtors have done and make this a condition of the counter offer or acceptance for every contract. In the event that your lender discovers that you have a bankable buyer, you will have the peace of mind knowing that there shouldn't be a ninth hour surprise and if they discover that the buyer is a lame duck, your seller will thank you and you can make the property available to other qualified buyers.

Understanding Property Tax Allocations and The Impact on Your Community

Chartwell Mortgage Corporation — Tue, 05 Jun 2007 00:57:11 -0500

	District Name	Tax Rate	Regular Tax	New Growth Tax
01	DOUGLAS COUNTY GOVERNMENT	1.8774%	$440.81	$0.00
02	DOUGLAS COUNTY GOVERNMENT DISABILITIES	0.1000%	$23.48	$0.00
03	DOUGLAS COUNTY RE-1 SCHOOL DISTRICT	4.6500%	$1,091.82	$0.00
04	DOUGLAS COUNTY PUBLIC LIBRARY DIST	0.4025%	$94.51	$0.00
05	LAW ENFORCEMENT AUTHORITY	0.4500%	$105.66	$0.00
06	URBAN DRAINAGE & FLOOD CONTROL	0.0542%	$12.73	$0.00
07	PARKER FIRE PROTECTION	1.3978%	$328.20	$0.00
08	STONEGATE VILLAGE METRO DISTRICT	2.7412%	$643.63	$0.00
09	CHERRY CREEK BASIN WATER QUALITY	0.0417%	$9.79	$0.00
10	URBAN DRAIN & FLOOD SOUTH PLATTE	0.0066%	$1.55	$0.00
11	Totals:	11.7214%	$2,752.18	$0.00

Last week I wrote a post entitled Property Taxes a Hot Topic in Douglas County Colorado concerning the re-appraisal of properties in Douglas County, Colorado http://www.douglas.co.us// and the resulting increase in tax assessments for property owners in Douglas County. Regardless if you decide to protest your reassessment or accept the adjusted tax amount, I think that it is important to understand how your tax dollars are allocated to understand the value they represent.

The above illustration is a breakdown of tax allocations from an actual tax payer's property tax summary in the Stonegate Village sub-division in Douglas County taken from the Douglas County Assessors office website www.douglas.co.us/assessor/. The total annual tax for this homeowner is $2,752.18 and we can see a breakdown of their allocations by both percentages and dollars.

The largest allocation is for the Douglas County School District www.dcsdk12.org/, which is among the best districts in the state of Colorado. Few citizens would argue against the value of a sound public school system and the resulting benefit to the community. I would ask this question; if you had a child attending Douglas County Schools would you feel that an annual payment of $1,091.82 was a sound investment to have them receive a high quality education? If you had no children, would you value the indirect benefits and accept that half of your annual property tax liability was supporting the school system in your community?

In Colorado water is a very important issue and the cost associated with the supply of adequate water resources is reflected in this tax payer's summary. The Stonegate Village Metro District was allocated $643.63 from this tax year, which is only a portion of the total charges assessed to the homeowner as they will pay an additional monthly charge to the Stonegate Village Metro District.

Public education, water resources, government administration, police and fire protection are all cornerstones of any vibrant community. Through property tax assessments local governments can allocate adequate resources to ensure that communities continue to thrive and that citizens can safely enjoy a high quality of life.

I would venture that a small percentage of homeowners have taken the time to review the distribution of their property tax dollars taking into account the value of the services received when determining how they feel about their annual tax payments. I wanted to share this example to shed some light on the subject and inspire you to obtain and review your tax statement in order to better determine the return on your investment in the community.

For an informative brochure describing the property tax process in Colorado; including an example of typical allocations of property tax dollars follow these links to the Colorado Division of Property Taxation.

Colorado Division of Property Taxation Home Page: http://dola.colorado.gov/dpt/index.htm

Brochure "Understanding Property Taxes in Colorado":

http://dola.colorado.gov/dpt/publications/docs/brochures/5-07Understanding%20Property%20Taxes.pdf

For More Information about Denver Real Estate and Mortgage Programs contact James A. Holmes, Director of Private Mortgage Banking, Cherry Creek Mortgage Company. http://www.privatemortgagebanking.net/ or by calling me Toll Free at 888-850-6100 or email at mailto:james@privatemortgagebankinking.net

Does Your Landlord Have You Cornered?

Chartwell Mortgage Corporation — Thu, 31 May 2007 10:40:36 -0500

Cherry Creek Mortgage Company - Private Mortgage Banking - The James Holmes Lending Team has made a strong commitment to assisting first-time homebuyers in their quest to obtain the dream of homeownership by utilizing a variety of low interest, low cost assistance programs. In our practice we work with both State and Federal Governmental agencies along with Quasi-Governmental agencies to provide access to the mortgage products needed to serve a broad number of first-time home buyers.

I've often marveled at the prospect of an individual choosing to rent in an environment that makes homeownership so attainable. If a person rents an apartment for $550 per month over five years they will have spent $33,000 with nothing to show in return. A person renting a single family home for $1,000 per month over five years will have spent $60,000 with nothing to show in return. Now, the landlord will be pleased to have interest paid, loan principal reduced, tax benefits received and equity appreciation gained thanks to the timely receipt of the renters hard earned dollars.

According to a study by the Metro Denver Economic Development Corporation as reported on their Monthly Economic Summary for March 2007: "the apartment vacancy rate in Metro Denver increased slightly from third quarter to fourth quarter but the fourth quarter 2006 vacancy rate of 7% stands well below the 7.9% vacancy rate reported a year earlier. For the year, the average vacancy rate in the seven-county region declined from 8.2% in 2005 to 7% in 2006. The study also reported that the last time the annual vacancy rate was lower than 7% was in 2001 when the metro region posted a 6.4% rate, and in the last five years about 25,000 rental units have been added to the market. The average monthly apartment rent also decreased from third quarter to fourth quarter. On an annual basis, the average apartment rental rate was 1.2% higher in 2006 than in 2005."

For More Visit:

Http://www.metrodenver.org/DataCenter/DenverEconomy/MonthlyEconomicSummary_March07.icm

The current trend of declining vacancy rates is expected to continue; add to that an increased rental rate, which some analysts have projected to increase as much as 4% over the next twelve months and you have an unfavorable environment for renters. The bottom-line is that the sales slump in the Colorado's housing market coupled with the general tightening in loan underwriting guidelines has resulted in fewer buyers, higher demand in rental units and increased rental rates. For renters who can qualify, now is the time to take advantage of low interest rates, increased inventory, seller incentives and a variety of assistance programs by purchasing a home now.

During our consultations we emphasis the benefit of equity appreciation and the monthly cash flow benefits of owning a home as a result of interest and property tax deductions. I recently assisted a client who was struggling with the idea of increasing his monthly housing expense from his present rent of $1,500 to a new mortgage payment of $2,050; once he realized that the net effect of his tax deduction would return $408 in monthly cash flow his net increase was only $142 monthly to own a home of his own.

The rent vs. buy decision is much easier to make once a renter grasp these concepts including the wealth building aspect of equity appreciation.

All else being equal, I cannot think of a reason why anyone would be better served renting as opposed to buying a home of their own.

For Information on how to obtain upto $25,000 in downpayment and closing cost assistance contact James A. Holmes, Director of Private Mortgage Banking, Cherry Creek Mortgage Company - The James Holmes Lending Team at http://www.privatemortgagebanking.net/ or by calling me toll free at 888-850-6100 or email at mailto:james@privatemortgagebankinking.net

Property Taxes a Hot Topic in Douglas County Colorado

Chartwell Mortgage Corporation — Wed, 30 May 2007 17:00:20 -0500

For property owners in Douglas County Colorado 2007 is a reappraisal year for property taxes. The county has been among the fasted growing counties in the United States for more than a decade. The county is comprised of more than 120,000 parcels, which are subject to a statutory reassessment of value by comparable sales for the period July 1, 2004 to June 30,2006. Due to the large number of parcels to be accessed, the county assessor's office implemented mass appraisals using computer modeling to determine value for each parcel as of June 30, 2006.

On May 1^st the Douglas County Assessor mailed a 2007 Real Property Notice of Valuation to all property owners in the county. I had the opportunity to review a client's statement, which provided six comparable sales deemed to be a sample of market activity, but not the basis for determining the value of her home. After reviewing the comparables I found that I could agree with three and strongly disagreed with three, so she has decided to protest her new assessment.

Based on the notice, her valuation has been increased from the 2006 valuation of $294,927 to $313,699; an increase of $18,722 or 6.35% in a flat market. On the surface is looks like a substantial increase given the present market environment for the area. I researched sales comparable during the review period and determined the true value to be $299,000 to $303,000, which is supported be an independent appraisal that was conducted in April of 2004.

Much to the credit of Douglas County Assessor Teri Cox and her staff, the protest process in Douglas County is streamlined and can be done in one of three ways; in person, online at www.douglascounty.co.us/assessor, or by fax. For convenience the county has also established two satellite centers open two days during the week in Parker and Lone Tree. The deadline for filing a protest is June 1, 2007.

For assistance obtaining comparible sales data in Colorado, contact James Holmes at 303-840-2319 or on the web at www.PrivateMortgageBanking.net

A Salute to the “Visionary Optimist,” the Real Estate Developer

Chartwell Mortgage Corporation — Tue, 22 May 2007 08:56:38 -0500

Today, I sat down to read the May 18-24 edition of the Denver Business Journal http://www.denverbusinessjouranl.com/ , as a real estate professional I was impressed by the number of stories announcing the ground breaking of residential housing projects in the central core of Denver, Colorado. By far the most ambitious of these is being carried out by my client and friend Randy Nichols of The Nichols Partnership. The project is known as Spire Denver http://www.spiredenver.com/ and when completed it will be one of the largest buildings to grace the Denver skyline and "the tallest residential tower between Chicago and Las Vegas" according to Randy Nichols. Spire Denver is a forty-one story condominium development located along 14^th Street in the heart of Downtown Denver, which is becoming an important entertainment, conference and hotel district as a result of numerous projects completed or on the drawing board.

Spire Denver boasts an impressive budget of $175 million dollars largely owned to an unprecedented rise in building cost since the inception of the project in 2006. The project will be completed in 2009 and consist of an eight-story parking structure topped by thirty-three stories and 503 residential units starting at $200,000 to further evolve Denver into a vibrant 24 hour live / work environment with transportation and pedestrian activities at it's core. Equally impressive as the budget and scale of this project, is it's meaning to the 14^th Street corridor and Denver's Downtown Area Plan, which will be released this summer. The plan envisions Denver's growth over the next twenty years and sets priorities consistent with the vision.

In a conversation I recently had with highly celebrated Architect Daniel Libeskind, the visionary of the Hamilton Building at the Denver Art Museum; he stated that "the act of erecting a building is an optimistic endeavor." The art of a visionary optimist is their ability to peer into the future to determine what may be needed and indeed accepted by the broader community for whom their work is completed; this certainly describes the real estate developer and their ability to pull the economy in their wake as they look beyond the present and envision the future.

For More on Spire Denver see:

http://www.rockymountainnews.com/drmn/business/article/0,1299,DRMN_4_5538376,00.html

http://denver.bizjournals.com/denver/stories/2007/04/30/daily22.html

For More on The Nichols Partnership see:

http://www.nicholspartnership.com/

http://www.spiredenver.com

For More Information about Denver Real Estate and Mortgage Programs contact James A. Holmes, Director of Private Mortgage Banking, Cherry Creek Mortgage Company. www.PrivateMortgageBanking.net or by calling me toll free at 888-850-6100 or email at mailto:james@privatemortgagebankinking.net

Unique New Program Allows You to Tap Into the Future Value of Your Home Today

Chartwell Mortgage Corporation — Mon, 21 May 2007 00:26:53 -0500

First My Disclaimer: This program is not suitable for everyone; in fact not every property is eligible. This program can only be offered by a certified consultant and it should only be used after careful consideration by the client and at the recommendation of the consultant that it is suitable for the client.

For the purpose of discussing this unique program, I will refer to the financial instrument as a "Real Estate Equity Exchange Agreement," and the facilitating company as "the investor."

In recent years consumers have begun to accept alternative methods to utilize equity in their homes other than the traditional equity loans made using a pay forward mortgage. The most popular among these is by far the reverse mortgage which addresses very specific needs for senior citizens needing among other uses to establish a supplemental income stream using their home equity.

We have entered into an agreement to provide a very unique vehicle to allow a prospective or current homeowner to access the future projected equity in a home being purchased or their current home without incurring additional monthly debt service expenses as this is not a mortgage.

How the Real Estate Equity Exchange Agreement Works:

This section with amendments is derived from our investment partner's website.

The Real Estate Equity Exchange Agreement is not a loan, but a Real Estate Equity Exchange Agreement in the form of a purchase option. It gives homeowners a portion of their home's equity in cash today in exchange for the right of the investor to share in a specified percentage of the future increase or decrease in the home's value.

For the right to share in an agreed upon percentage of the future change in value of the home, the investor pays the homeowner what is called an Option Exercise Price equal to the current value of the home multiplied by the percentage of the future change in value granted to the investor. If the home increases in value, the investor shares in the gain; if the home declines in value, the investor shares in the loss. Simply stated, there is nothing like the Real Estate Equity Exchange Agreement in home finance.

Is the Real Estate Equity Exchange Agreement right for me?

A Real Estate Equity Exchange Agreement may be the ideal solution for homeowners and home-buyers in a wide range of situations-and with a wide range of financial needs:

Homeowners interested in refinancing to reduce their debt (pay off mortgage, credit cards, etc.) or reduce their monthly payments;
Homeowners considering loans or other debt-based financing alternatives to get cash out of their home;
Homeowners considering a reverse mortgage;
Homeowners considering an equity loan or private education loan to finance their child's education;
Homeowners with more than half of their net worth locked in the equity of their home;
First-time home-buyers who are able to put 10-15 percent down on the purchase of a home;
"Move-up" home-buyers who want to increase their down payment to reduce debt and monthly payments
Home-buyers who want to add money to a down payment in order to buy more house for the same out-of-pocket payment.

The Real Estate Equity Exchange Agreement in 4 Easy Steps:

The homeowners decide how much cash they want to receive (up to $300,000) or the percentage of the future change in value of the home they're willing to share (up to 50 percent).
The homeowners and the investor agree to the value of the home based on various valuation tools, including a neutral 3rd party appraisal.
The homeowners receive the Advance Payment in cash immediately upon entering into the Real Estate Equity Exchange Agreement with no interest or monthly payments and may use the money with no restrictions.
A Real Estate Equity Exchange Agreement typically remains in place until the earlier of 50 years* or when the homeowner sells the home-at which time the investor will share in the gain or loss on the home value.

*40 years in Illinois and 30 years in North Carolina.

Leveraging to Buy More House:

Between down payments and debt, there are many reasons why home-buyers settle for the house they can get, instead of the house they really want. No more. When you finance your home with a Real Estate Equity Exchange Agreement, you can get the best of both worlds-more house not debt.

Dream home getting you down?

It's not much of a dream home if you're not sleeping well. With all the talk of a real estate "bubble," many homeowners are concerned about buying their dream home. Why not let the investor take some of that risk by using a Real Estate Equity Exchange Agreement to reduce your exposure? That way, the investor is making an investment in your house and will share in both increases and decreases in value.

Time to get that second home?

Thinking of a summer home? What's holding you back? If the thought of liquidating assets for the down payment or taking on a big new mortgage has put you off, now you can get access to money without interest charges or monthly payments. That "someday" may be today.

The Real Estate Equity Exchange Agreement has many uses including Purchasing a new home, restructuring an adjustable rate mortgage, eliminating a current mortgage debt, cash out without debt service, mortgage elimination

My team, the James Holmes Lending Team of Cherry Creek Mortgage Company will begin consulting with Realtors, financial planners and consumers in our market over the next several weeks to educate them on this program and how it can benefit their clients. We are going to speak with many of our current and past clients about the potential benefits of using this unique approach to managing their equity. In future post I will delve deeper into the practical applications of this program and provide testimonials as we begin to fund equity disbursements for our clients.

In the interim, if you are interested in learning more about the Real Estate Equity Exchange Agreement and how it can be used to assist you when addressing a specific client or personal need, please feel free to contact me directly to schedule a consultation in person or by telephone. I can be reached toll free nationwide by calling(888) 850-6100 or in Colorado at 303-840-2319. Also feel free to visit me on the web at http://www.privatemortgagebanking.net/ or via email at james@privatemortgagebanking.net

I Am Rallying My Investor Clients For A Trip To T.R.I.B.E. Workshop In Dallas

Chartwell Mortgage Corporation — Sun, 20 May 2007 00:24:47 -0500

A few months ago I had the pleasure of hosting David Montelongo from the hit A&E television series, "Flip This House" as a guest on the Real Estate Today Radio Show One hour of education from an expert...PRICELESS.

During our interview, David discussed the first T.R.I.B.E. Workshop (see http://www.tribeworkshop.com/) to be held in Dallas, Texas this summer. After subsequent conversations with David's wife Melina, I have made a commitment to attend the workshop as I believe it will provide a unique opportunity to learn from several of the accomplished real estate investors from around the country and understand the strategies they implement to achieve success in our field.

I truly believe that this will be a transformational experience. My goal is to have our investor clients and others interested in creating wealth through real estate join us in Dallas for the T.R.I.B.E. Workshop. Upon our return, we will create a real estate investors club to implement what we learn and leverage the networks that we are establishing to achieve our objectives; simply stated, we will return with new found knowledge to acquire and successfully flip or hold real estate in Colorado.

I believe that this workshop will benefit anyone who is serious about investment real estate in general and flipping real estate in particular. David and Melina Montelongoalong with Armando and Veronica Montelongo have developed their reputation by successfully flipping 25 homes per month. This is a rare opportunity to learn from the A&E Flip Teams and to build a network among leaders in the field of residential real estate investment.

Cast members from Atlanta, New Haven and San Antonio will be present.
A&E's Flip This House teams will be under one roof!
All of whom will be available to answer any questions you may be dying to ask!

David & Melina Montelongo will be available at all Networking Sessions

David Montelongo

David attributes his construction knowledge to the years spent with his Father and brother's well established residential remodeling company. There he sharpened his skills and was trained in knowing the ins and outs of contract negotiation, project management, and quality control, which he uses on a daily basis. David commands respect from his contractors, and is known for his calm demeanor and stellar negotiating skills.

Melina Montelongo

Melina's desire to succeed began at the early age of 15 when she joined a large majority of professional women in the work force. Through out her budding career a common thread was discovered; the desire to build working relationships with a variety of people. Using this desire in the real estate industry has paved the way for meeting and marketing to investors and potential home buyers all over the nation.

An overview of the T.R.I.B.E. Workshop follows:

WHO:Mike Huey, Michael Hellickson, & Than Merrill just to mention a few nationally recognized speakers, who will teach you what you need to know first hand!

WHAT: For two and a half days you can participate in five extensive classes strengthening your knowledge and understanding of the various aspects of real estate investing.

You will learn everything from creative financing strategies and techniques to how to successfully negotiate purchases and sales to your advantage - plus a whole lot more!

WHERE: Hilton Dallas Lincoln Centre, Dallas, Texas

WHEN: July 27-29, 2007

THE ITINERARY

FRIDAY:6 p.m. - 9 p.m. Sign In & Networking Mixer - DISCOVER.
(Drinks & Horderves Provided)

SATURDAY:7:30 - 8:30 Breakfast (Provided)
8:30 - 8:45 Intro & Welcome
9:00 - 12:30 Classes
12:30 - 2:00 Lunch (Provided)
2:00 - 5:45 Classes
You're on your own for dinner!

SUNDAY:7:45 - 8:45 Breakfast (Provided)
9:00 - 12:45 Classes
12:45 - 2:00 Lunch (Provided)
2:00 - 6:00 Classes
6:00 - 9:00 Banquet (Provided) - EMPOWER.

Deadline for Registration is June 15th, 2007

I can be reached toll free nationwide by calling (888) 850-6100 or in Colorado at 303-840-2319. Also feel free to visit me on the web at http://www.privatemortgagebanking.net/ or via email at james@privatemortgagebanking.net

The Real Estate Libraries Provides a Unique Opportunity for Sellers, Buyers and Builders

Chartwell Mortgage Corporation — Thu, 17 May 2007 12:00:39 -0500

I often run across a great idea or a new way of providing great service to the real estate community and the home buying public at large. My response is usually, "I wish I would have thought of that," and I move on. The next best thing to creating the next big thing is being ask to be a part of someone else's brain child and so it is with the Real Estate Libraries http://www.relibraries.com/ located at the Cherry Creek Mall in Denver Colorado http://www.shopcherrycreek.com/. Touted as "a preferred real estate resource," the Real Estate Libraries is truly a unique way to showcase Colorado Real Estate allowing buyers and sellers to obtain information from variety of builders and real estate companies. The creator of the Real Estate Libraries concept has been a highly respected Realtor in the Denver market since 1975 and he sought to create a comfortable non-intrusive environment for visitors of the library to obtain useful information and resources without being sold.

The Real Estate Libraries is housed within a 1500 square foot kiosk located in the popular Cherry Creek Mall and was designed to incorporate the latest high tech features including plasma televisions and online access to a unique home search service called the Home Buyers Scouting Report for buyers to shop for a new home without any pressure to buy as the staff at the Real Estate Libraries are not licensed real estate brokers; this was by design to allow the staff to act as buyers advocates capable of referring the buyer to a select group of Realtors that can assist the buyer when they are ready to purchase a home.

The Home Buyers Scouting Report is a personal password protected website that allows the buyer to set search characteristics determined by their wants and needs. Then once each day the system matches the buyer's criteria with the Multi List System and emails the buyer a link to all of the listings that are a match. The buyer can amend the search, save properties to a unique notebook feature and request more detailed information on a specific property. This is a free service and allows the buyer to search for properties throughout Colorado 24 hours a day from the privacy of their own home or office.

Buyers can preview new build projects, evaluate custom home builders, obtain information on resale homes, and learn about customized mortgage loan programs offered by Cherry Creek Mortgage Company, the preferred lending partner of Real Estate Libraries. As Director of the Private Mortgage Banking branch for Cherry Creek Mortgage Company http://www.privatemortgagebanking.net/; we have a wide range of mortgage programs tailored to fit the needs of everyone from the first time buyer to the individual interested in buying the custom home of their dreams. We participate in the Denver Bond Program for first time buyers and we can finance the construction and long term mortgage for amounts up to five million dollars. The mission of Private Mortgage Banking is a perfect match for the Real Estate Libraries as we strive to provide high level consultation in an environment that will add significant value for our clients through the loan process.

For builders and developers the Real Estate Libraries provides a platform where a new projects can be presented to an interested public in a relaxed environment that encourages the potential buyer to take their time, ask questions, and obtain information on both the project and available financing options. The concept is a winner for everyone involved.

If you would like to learn more about the Home Buyers Scouting Report, Cherry Creek Mortgage or the Real Estate Libraries as a buyer, seller, builder, developer or real estate professional, feel free to contact me.

I can be reached toll free nationwide by calling(888) 850-6100 or in Colorado at 303-840-2319. Also feel free to visit me on the web at http://www.privatemortgagebanking.net/ or via email at james@privatemortgagebanking.net

The Highlands at Stonegate Offers an Exceptional Value for Home Buyers

Chartwell Mortgage Corporation — Thu, 10 May 2007 08:59:59 -0500

For a wide range of home buyers from first-time homeowners to the empty nester, the Highlands at Stonegate represents a tremendous value in the highly desirable Stonegate community in Parker, Colorado.

The project consist of more than 400 Built Green units comprised of both condominium and town home style floor plans. The designs are fresh and buyers have a variety of design features and upgrades available through the design center located on site.

Stonegate is among the most successful residential and mixed use developments in Douglas County which is one of the fastest growing counties in the United States. Appreciation in Stonegate has outpaced many similar suburban master planned communities in Colorado.

The Highlands at Stonegate is surrounded by amenities including a recreation center and ample shopping including the Park Meadows Shopping Center. The development provides easy access to E-470 and I-25 by which a commuter can reach downtown Denver in twenty-five minutes. In addition to the highway system, the Stonegate community can easily access the new light rail system within ten minutes by drive or public transportation.

Douglas County Housing Partnership has established an innovative first-time homeowners program providing as much as $20,000 in the form of a low interest and payment deferred second mortgage loan. More information about the program can be found at http://www.privatemortgagebanking.net/

Many new home buyers have utilized the Douglas County program to finance their purchase at the Highlands at Stonegate through partnering lender Cherry Creek Mortgage Company in Parker, Colorado.

Douglas County is known for the quality of it's educational system and the Stonegate community includes excellent schools including Pine Grove Elementary, Chaparral High School, and new state of the art elementary school under construction. To learn more about the Douglas County School District visit their website. http://www.dcsdk12.org/

The Highlands at Stonegate has an informative website, which includes floor plans and many additional details. To learn more about the Highlands at Stonegate visit their website. http://www.highlandsatstonegate.com/

Everyone Deserves to have a moment like Calvin Borel

Chartwell Mortgage Corporation — Mon, 07 May 2007 22:45:26 -0500

I LOVE horses! I have shown them in hunter / jumper events and I have been a fan of horse racing for as long as I can remember. I sat down on Saturday to watch the 133^rd Kentucky Derby without selecting a favorite to win.

This year has been so busy that I didn't pay much attention to the lead up to the event, so I had an open mind and no emotional investment in the outcome. After watching the race I could only draw one conclusion; everyone deserves to have a day like Calvin Borel; who aboard a horse named Street Sense galloped from a 9-2 favorite into the history books with a 2¼ length victory.

(Photo By AMY SANCETTA/AP)

Calvin Borel by all accounts an honest humble Creole from the sugar cane fields of Louisiana with an 8^th grade education, reached the pinnacle of his profession doing so through hard work and a dedication to his love of his craft. He enjoys that respect of everyone on the jockey room (his peers) and everyone seemed to be genuinely happy for him, which is a true testament in this ultra competitive sport of kings.

Learn more about Calvin Borel:

http://www.usatoday.com/sports/columnist/lopresti/2007-05-05-derby-borel_N.htm

http://www.chron.com/disp/story.mpl/sports/lopez/4779152.html

As I watched him trot down the front stretch toward victory circle, before Her Majesty The Queen of England, tipping his helmet, crying, pointing to the heavens, thanking his father and mother, thanking his brother, and his beautiful horse; I sent up a little prayer that everyone would be blessed to have a moment like Calvin Borel's Kentucky Derby experience and that we would recognize the gift and make the most of it.

So here are my questions:

1. Are you passionate about what you do?

2. Have you had such a moment?

3. If so, what was it?

4. If not, what would it be and are you one the path to achieve it?

A Reminder to Watch HGTV's "MY FIRST PLACE" Tonight at 10:30 EST

Chartwell Mortgage Corporation — Sun, 29 Apr 2007 14:48:32 -0500

Last week I posted a blog concerning my reality TV debut My Reality TV Debut is Suddenly Here! on HGTV's hit series "My First Place" http://www.hgtv.com/. After the post a few Rainers ask me to post a reminder message today, so here it is. The episode will air tonight Sunday April 29th at 10:30 PM EST.

The program follows my clients Raphael and Erika along with their four children on their quest to purchase their first home. As they attempt to qualify for financing and attempt to purchase a home of their own the story unfolds in a wonderful way. I promise you that they will win your hearts with a few great surprises along the way.

So why did I want to work on this project? My objective for being involved in the project was to illustrate that a young family with the desire to own a home coupled with their willingness to work in conjunction with professionals committed to their success can succeed in making their dream of homeownership a reality. It was an honor to have an opportunity to work with HGTV and the production staff at High Noon Entertainment, everyone involved was fantastic.

I have yet to see the finished episode or any of the tapes, so it will be interesting to see how the story unfolds. The family we worked with stole our hearts and I think it will represent how we embrace our clients in every transaction.

Here is how the episode is being introduced on the HGTV website:

Episode HMFP-601

New Digs for Family of Six

Erika and Rafael need a lot of house for their four kids. With a strict housing budget, these house shoppers are ready to bid on their first place. Their worst fear threatens closing when their lender informs them of a change in their loan. Once closing is complete, the couple comes home to a surprise housewarming gift they can't believe - a completely furnished and designed kitchen/dining room!

I would love the support and feedback from as many of my AR friends as possible. I think the show has real value, not because I am involved, but rather due to the family we helped, the story that unfolds and the excellent work of the HGTV and High Noon Productions staff that put the show together.

Air Times

(All Times MST)

April 29 8:30 PM

July 01 8:30 PM

July 02 12:30 AM

My Reality TV Debut is Suddenly Here!

Chartwell Mortgage Corporation — Tue, 24 Apr 2007 03:13:16 -0500

You might recall a blog I posted back in February concerning my venture into the realm of reality television - here is the link: My Reality TV Experience.

At the time it was expected that the episode we had just finished taping would air in late Spring 2007. Today I received an unexpected phone call from HGTV http://www.hgtv.com/ informing me that they have moved our episode to the season premiere of the hit series "My First Place," which will air this Sunday April 29th at 10:30 PM EST. Please catch it if you can and let me know what you think.

I have yet to see the episode, so it will be interesting to see how the story unfolds. The family we worked will stole our hearts and I think it will represent how we embrace our clients in every transaction.

The program follows a young family as they attempt to qualify for financing and then seek to purchase their first home; their story will win your hearts and there are a few great surprises at the end.

My objective for being involved in this project was to illustrate how a young family with the desire to own a home coupled with a willingness to work in conjunction with professionals committed to their success can succeed in making their dream a reality. It was an honor to have an opportunity to work with HGTV and the production staff at High Noon Entertainment.

I would love the support and feedback from as many industry professionals and consumers that have an opportunity to view the show. I think it has real value, not because I am involved, but rather due to the story that is told and the work of the HGTV and High Noon staff who put the show together.

It is time...past time to Re-Evaluate ARM Mortgages

Chartwell Mortgage Corporation — Fri, 13 Apr 2007 15:51:23 -0500

In my market my team and I are positioned as "highly trusted advisors," and new clients quickly recognize that we see our role as financial planners specific to the mortgage transaction; our loan application process is more a financial goal setting and strategy meeting than a traditional fact gathering discussion. One of the my greatest joys when working with a client is the initial loan consultation to determine the client's goals and objectives which causes them to think more long term about the type of mortgage program they select.

In past years we placed a lot of emphasis on the homeowners' time horizon for the property as a way of evaluating ARM mortgage programs. The payoff was significant at that time as the ARM mortgage rate was often 1-2% below that of a fixed rate mortgage; so the thought was "why pay a higher rate in order to buy a longer fixed term that you will not need." This approach made perfect sense back then, but that logic no longer applies in today rate environment.

As a result of the Federal Reserve inching up short term rates ARM mortgages are no longer the bargain they once were and there have been a few occasions when ARM mortgage rates have actually been higher than 30 year fixed rates, so why not enjoy the security of a fixed rate without sacrificing a low annual interest rate. News of the current ARM mortgage reality has begun to filter down to the consumer and the number of calls we receive and questions we answer concerning ARM mortgages has fallen dramatically.

There are a few exceptions as many of our investor clients like the advantage of payment flexibility offered by the Pay Option ARM mortgage or a one year ARM mortgage for a short term position on a property. When clients are considering a home equity line of credit or a loan to fix and flip a property ARM mortgage are most often utilized.

The best way to determine the loan that is right for a borrower is to enter into a meaningful conversation with a mortgage professional that takes a planning approach when advising their clients. Both the short term objectives and long term goals must be clearly understood and the highest priorities should dictate the final selection of a mortgage program.

Here is third party validation from Bankrate.com, which is one of the most highly respected new sources in the mortgage industry. http://www.bankrate.com/nltrack/news/mtga/Apr1207_mortgage_analysisa1.asp

Consumers spurn ARMs

For months, the Realtors have been encouraging buyers to get fixed-rate mortgages because of concerns about payment shock when ARM rates are reset. The NAR's chief economist, David Lereah, beat that drum this week: "Simply stated, a loan with the lowest monthly payment probably isn't in your best interests -- borrowers need to understand worst-case scenarios," he said in a news release. He encouraged ARM holders to refinance into fixed-rate loans.

Borrowers don't need much of a push. Last week, 18.7 percent of mortgage applicants asked for an adjustable-rate mortgage. Consumers haven't spurned ARMs like this since July of 2003.

"Some days, a 3/1 ARM will be priced worse than a fixed rate," especially when you take discount points into account, says Jim Sahnger, a mortgage consultant with Palm Beach Financial Network in Stuart, Fla.

For people getting conforming mortgages (loans for less than $417,000), the differences between ARM rates and fixed rates are so small that there's not much incentive to go with the ARM, Sahnger says. That's especially true for borrowers who expect to stay in the house for more than three to five years. Where Sahnger does business, in South Florida, house prices have been falling, and people aren't buying houses unless they plan to live in them for several years.

Source: Bankrate.com - Posted: April 12, 2007