Is this the end of seller assisting buyers with down payment - 07/22/08 02:17 PM
I got this from my mortgage expert.
Washington Post (07/22/08) P. D1; ElBoghdady, DinaCongress is expected to pass a broad housing package this week that includes language banning seller-funded downpayment-assistance programs. Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, says the his chamber will cede to the Senate's effort to end this type of aid--which the Bush administration has wanted to do for years. The Federal Housing Administration says borrowers who obtain down-payment assistance from sellers go into foreclosure at nearly three times the rate of borrowers who pay out of their own pockets. Over the past decade, … (6 comments)

NEW LISTING ALERT, PANAMA CITY, FL, CLOSE TO TYNDALL AIR FORCE BASE - 07/14/08 08:25 PM
Property report courtesy of The Payne Group
--Information deemed reliable but not guaranteed--Copyright: 2008 by the Bay County Association of REALTORS® www.knowpayneknowgain.comPrepared by Jeff Payne of KELLER WILLIAMS SUCCESS REALTY on 7/14/2008 8:24:40 PM
… (0 comments)

Mortgage Fraud on stated income loan? A common occurrance? - 07/09/08 09:11 PM
I had a conversation with a seller who needs to sell his property but owes much more than what it is worth.  Since he does not have the money to pay the deficiency, he has no choice but to short sale the property or face foreclosure.  When I explained to him that we would need to furnish financial records, tax returns, bank statements, etc, he quickly decided not to short sale.  Why?  He is worried that when they ask for financial documents, the lender will quickly see that he did not earn the income that he stated (18 months ago) when … (2 comments)

Negativity,What? I can't hear you, Gloom and Doom, What ? I can't hear you, The market is bad, what? I just can't hear you - 07/09/08 04:17 PM
Is everyone else tired of all of the negativity in our industry?  I AM!!  I am tired of hearing the excuses being made, tired of hearing all of the gloom and doom.  The market is not easy, nothing is handed to you.  GO OUT AND GET IT!!!!
I refuse to listen to negative people and I refuse to associate with negative people.  I find it hard to be negative, my family is happy and healthy, our business is growing each day.   We have put 3 properties under contract this week and have 3 closings set for this week.
Who is with … (4 comments)

The Millionaire Realt Estate Agent Budget Model, Holding your money accountable - 07/09/08 03:53 PM

The Millionaire Real Estate Agent Budget Model
Cost VS Investment
Do you have a budget?  Do you know where you money is going?  Do you know your Return on Ivestment?  If not, YOU NEED TO READ THE BUDGET MODEL.
The three key areas are
1. Lead with revenue... Don't spend money that you don't have.  Only spend the money that your business is generating.  Don't think If  I spend it they will come.  Know what you are spending your money on.
2. Play Red Light, Green Light.  Hold your money accountable.  It is not a concern how much you spend as … (2 comments)

Affordable Housing, what is affordable in your area???? - 07/09/08 03:27 PM
We constantly hear about the need for affordable housing in this country.  Of course, affordable is a relative term depending on the area.
Here in Panama City, Tyndall Airforce base is one of the largest employers and that helps to fuel our market in the $175,000 to $225,000 range which is the range of our average sales.  That amount would be low in certain areas of the country and very high in others. 
I believe that truly affordable housing in Panama City is under the $150,000 mark but unfortunatly, land prices make it difficult for builders to build for that amount … (0 comments)

The Millionaire Realt Estate Agent Organizational Model - 07/09/08 03:05 PM

The Millionaire Real Estate Agent Organizational Model
The organizational model is for those those that have gone as far as they can and now they need help.   You can't do anymore and there are only 24 hours in a day, WHAT DO YOU DO??????    You read the Millionaire Real Estate Agent book. 
The very first hire should be an unlicensed administrator (IMO).  This person is responsible for putting systems into place, running the database, pffice work.   Hiring talent means hire the right person and you will return TRIPLE their salary in additional commissions.  This allows you to list and sell … (2 comments)

Short sale listing, Cedar Creek Chase, Panama City Florida - 07/08/08 01:07 PM
Property report courtesy of The Payne Group
--Information deemed reliable but not guaranteed--Copyright: 2008 by the Bay County Association of REALTORS® www.knowpayneknowgain.comPrepared by Jeff Payne of KELLER WILLIAMS SUCCESS REALTY on 7/8/2008 1:03:38 PM
… (0 comments)

Should a home inspector put in the report that seller must cut grass? - 07/07/08 08:52 PM
I got an inspection report back today on one of my listings.  Mostly normal stuff, an electrical issue and a dryer vent issue.  These things we expected but there were a few that we did not expect and had NEVER seen before on an inspection.
The three weird items on the summary are.....
1. Seller must cut grass
2. Food is left in refrigerator, seller needs to clean out refrigerator and freezer
3. Bedroom doors locks do not work
Anyone ever seen any items like this on an inspection report?????
… (18 comments)

Need contact information for Wilshire Credit!!!! - 07/07/08 01:25 PM
Anyone have contact information for Wilshire Credit.  What I need is the email address format.
Do they use firstname.lastname@wcc.com  firstname_lastname@wcc.com
 
Any help is appreciated!!!!
Just a quick update, I figured out the email address of the negotiator.  Wilshire credit uses
firstname_lastname@wcc.ml.com
Wells Fargo is firstname.lastname@wellsfargo.com or firstname.middleinitial.lastname@wellsfargo.com
Countrywide is first_last@countrywide.com
Anyone have any other formats?
 
… (0 comments)

What is my home worth on Realtor.com?? - 07/04/08 10:26 PM
What is my home worth on Realtor.com?  Well, I have a good idea of what my home is worth since I have sold many of the homes in the neighborhood, as a matter of fact more than any other Realtor in the last 2 years.  When I go to realtor.com and try to find this out, but guess what????  There is no sales data available.   How can this be when there have been 11 sales in the last 6 months and 32 in the last year within 1/2 mile of my home.  Unbelievable.  How much does NAR pay for this site?
… (6 comments)

Why do we have to pay extra for Realtor.com extras - 07/04/08 10:12 PM
I haven't paid much attention to realtor.com until lately.  I don't like the website and quite frankly I don't care much for NAR.  What do they do for us?  They charge us to add anything to the realtor.com website for upgrading the listing and to add more photos. Why don't they offer the same thing to everyone instead of charging extra to make a listing better. Give us all of the bells and whistles since we are NAR. 
I just recieved my realtor benefits book , what a joke!  Another thing that NAR is wasting our money on.  Why can't this book … (24 comments)

Short sale completed in less than 30 days, CONTRACT TO CLOSE - 07/04/08 05:04 PM
Wow, after all of the bad WAMU short sale blogs that I read, I thought I was in for a long and drawn out process.  We recieved a contract and submitted to WAMU and they ordered the appraisal immediately and give us a reasonable counter offer.  We closed in less than 30 days. The only part that got scary was when their closer took forever to approve the HUD-1 Are the banks starting to pay attention to their loss mitigation departments?????
 
… (5 comments)

New listing, Panama City Florida, Deerfield Estates - 07/02/08 05:47 PM
Close to Tyndall Airforce Base
Property report courtesy of The Payne Group

 
--Information deemed reliable but not guaranteed--Copyright: 2008 by the Bay County Association of REALTORS® www.knowpayneknowgain.comPrepared by Jeff Payne of KELLER WILLIAMS SUCCESS REALTY on 7/2/2008 5:45:44 PM
… (0 comments)

Great new listing, Panama City's Cherokee Heights neighborhood - 07/01/08 09:13 PM
Property report courtesy of The Payne Group
--Information deemed reliable but not guaranteed--Copyright: 2008 by the Bay County Association of REALTORS® www.knowpayneknowgain.comPrepared by Jeff Payne of KELLER WILLIAMS SUCCESS REALTY on 7/1/2008 9:09:49 PM
… (0 comments)

 
Jeffheadshot2

Jeff Payne, Panama City Real Estate

Panama City, FL

More about me…

The Payne Group at Keller Williams Success Realty

Address: 2110 W 23rd St Suite A, Panama City, FL , 32405

Office Phone: (850) 392-1770

Cell Phone: (850) 890-0132

Email Me

Panama City Real Estate, New home construction specialist, Cherokee Heights, Deerfield Estates, Military Relocation, Tyndall Air Force Base, Naval Coastal Systems Panama City Beach, Panama City, Real Estate, Panama City Beach Real Estate, short sales, REO, foreclosures, first time home buyers


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