A funny thing happened to me today.  I received an email that said; Dear Joseph, Your production last year was impressive according to MLS data.  It went on to say 100% commission minus one small flat fee. (negotiable), compensation on loans generated without a lot of extra work. and NOBODY WILL DO WHAT WE ARE DOING!

Well I just so happen to own a company that pays 100% commission and pays compensation on loans that meet RESPA guidelines.  We have two programs the Advantage that is a per transaction fee or if you are a producer, the Maximizer that is a monthly program.  With the maximizer if you close one transaction a month you pay $608 for that transaction, two in a month and you pay $353.50 per transaction and three per month you pay $268.67 per transaction.  I could go on and on, but you see how we roll, the more you close the less it costs you.

Our company has been in existence for 12 years and we started the new compensation program 2 years ago.  I guess maybe that is why the Sacramento Business Journal has listed us as the eighth fastest growing company and the only Real Estate office in the top 100 for the last 2 years.  You can even go to our web site at www.gorealtyfirst.com click on meet our team and ask one of our members why they chose REALTY FIRST REAL ESTATE AND MORTGAGE SERVICES.

The other funny thing is I have been a lender for 32 years and my production is not listed in MLS.  And no I won't be doing what they are doing, our program is better.

If you are in the Rocklin California area or going to be on October 30th, please join us at our Octoberfest celebration.  We want to thank everyone that helped us get to THE TOP 100 FASTEST GROWING COMPANIES in the Sacramento Business Journal.  We will have prizes, appetizers and beverages.  We are located at 535 Menlo Drive Ste A in Rocklin California, 95765.  Our # is  916-784-7653 .  Please join us and help us celebrate our new office and our achievement.

Broker Joe

As the Broker of Realty First Real Estate and Mortgage Services, I would like to thank everyone that has helped us to get to the Sacramento Business Journal's TOP 100 FASTEST GROWING COMPANIES. The survey was ranked by percentage of revenue growth from 2005-2007.  I believe our unique program of 100% commissions paid, low fees, Tuesday Tune-Ups, no hidden fees, availability of doing Real Estae or loans(conventional) and letting the agent make their own decisions has catapulted us to # 8 on the list, and the only Real Estate Company in the top 100.  As others are shrinking we are growing.  We could not do it without the many wonderful agents that have joined us over the last 2 years.  You have made us what we are today.  THANK YOU

http://399flatfee.com

The United States Senate voted today to approve a multi-billion-dollar economic stimulus bill which includes anincrease in the federal conforming loan limit.  The loan limit increase means that federally guaranteed loans, which carry lower financing costs for home-buyers, will rise to $730,000 in California's high-cost housing markets providing needed mortgage capital and, hopefully, much-needed stimulus to dormant home sales.  The stimulus package, approved by a vote of 81 to 16, must go back to the House of Representatives for a vote - expected to be a formality - before its expected arrival on the President's desk next week.  The package approved by the Senate is about 20 billion dollars more than what the President sent to them, but he is expected to sign the package next week.  I will update this blog as news comes out.

You can own this secluded mountain hideaway for $324,900.  The 1800+ sq foot home sits on 10.16 acres.  It is a 4 br 2 ba home with a 3+ car detached  garage and a barn with 6 stalls.               You must see this listing to appreciate it.  Miles from anywhere, you are trully on a secluded mountain hideaway.

 Visit this listing and many more at http://www.bankrepohotlist.com/

Sacramento, CA-People are living longer than ever.  That's a good thing, right?  Unfortunately, the cost of maintaining a healthy, quality lifestyle is also on the rise.  This mixed blessing is especially hard on seniors whose pensions (if any) and Social Security simply can't keep pace.  With limited options, seniors increasingly need to access the equity in their real estate to supplement their retirement.

"We kept thinking that there has to be a better way to help our clients who were over 65, make their largest asset, their home, work for them without spending down the equity they had worked so hard to build" said Jeff Nash, Managing Director of EquityKey.

However, the most popular method for turning this asset into dollars---the reverse mortgage-results in significant fees and new debt, forcing seniors to lose the equity they have in their homes.  "So, Nash continued, we brought together the brightest minds in finance, law, tax and insurance and developed a product that offers an alternative: a no-fee solution that provides debt-free cash without accessing the homeowner's existing equity".

Equity Key gives debt-free cash to the homeowner based on the projected future appreciation of their home in exchange for the right to participate in that future appreciation.  The program gives the Homeowner 12-15% of the appraised value of their home  in exchange for 50% of any future appreciation until the home is sold.  The client's current equity at the start of the agreement is not touched by EquityKey says Josep Crespillo, a California Broker, and "EquityKey believes that real estate is a safe long-term investment and that years from now, the home will most likely be worth more than it is today.  The question is, does the senior homeowner want to leave all of that future appreciation to their estate and the government or use some of it today?

Many seniors have used the money to buy Long-Term Care Insurance or to help pay for prescription drugs.  Some have even talked about freeing up their grandchildren's inheritance now, by paying for their college with funds received from EquityKey.  It is your debt free cash, you make the decision on what to do with it, says Crespillo.

Call the EquityKey Hotline at 1-800-784-8124 ext 2921 for a free 24 hour recorded message.

For additional information,

Contact: Joseph Crespillo

(916) 784-7653

jmc11@jps.net

As home prices slide throughout the United States, I just read an article that puts it all into perspective.  My wife and I are doing BPO's at $50 a pop to help make ends meet.  WE are getting about 200 a month so the extra money is coming in handy but it is a lot of work and is very time consuming.  Now I find out that all I have to do is move to Manhattan and sell Alex Rodriquez(no not sterroids) a new town house.  The word in Manhattan real-estate circles is that a $39 million East 80th Street town house is in his future.

 If Alex closes on the town house this year it will be the sixth most expensive house of 2007.  All of the top five have been in Manhattan.  Yes the Forbes priciest home sales of 2007 is finally out.  You can go to www.Forbes.com to find out if your sale made the list.

It looks like SB 2338 (FHA Reform) will possibly pass before the end of the year.  The hold up has been Oklahoma Republican Tom Coburn and he has agreed to release his hold on the housing bill.  This is good news and our markets may get some relief because of the bill.

 Coburn had expressed a number of concerns about the bill and objected to unanimous consent requests to pass the bill on Nov. 14 and Dec 6.  As you know, the House passed their version of the bill (HR 1852) as far back as Sept. 18.

FHA reform will increase the size of mortgages the FHA could insure, reduce down payments and increase the penalties for fraud.  It will not be the complete answer to the problems we are having in our industry, but it is a start. 

Our next step is to get our Representatives to raise the loan amounts on the GSE's.  If the high priced area's had the same loan amounts as Hawaii, we would take another step closer to pulling out of our down-spin.  So contact your Representative today.

 UPDATE-The Senate passed SB 2338 today(12/14).  They expect the bill to be signed by the President sometime in January.

Yesterday while driving home, I heard about a program that is a voice activated text messaging center.  You set it up with your computer.  Call a number and you can talk into your cell phone, tell it where you want it sent and it will send it for you.  The best part is that it is free.

Has anyone heard of this system?