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Deal breakers - 04/08/08 05:53 PM
Quick Skim Your buyer found the perfect home. Your seller found the perfect buyer. Yet, as you near closing, all types of title, mortgage, appraisal, and home inspection problems can keep you from closing. Mortgage expert Tracey Rumsey has seen it happen all too often. In her new book, Saving the Deal (AMACOM, 2008), she offers tips on how to avoid these potential deal-killers that jeopardize or delay transactions. Home listing and homebuying checklists in the book offer you questions to ask your clients to make sure these problems don't surface later on and cost you a sale.
Buy the Book
From … (2 comments)
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Market improvements - 04/06/08 08:06 PM
Daily Real Estate News | March 31, 2008OFHEO Director: Markets Shows ImprovementThere are "some good signs" that the severe downturn in U.S. housing markets might be approaching an end, says James Lockhart, director of the Office of Federal Housing Enterprise Oversight."It's going to take a while, but we're starting to see some bottoms," Lockhart says. "It may take another six months or so, but hopefully we'll start pulling out of it."But, Lockhart says, the idea of freezing mortgage rates would be a mistake to recovery. Presidential candidate Sen. Hillary Clinton had proposed the idea of a rate freeze."You'd really cause market dislocation. ... … (0 comments)
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HUD chief to retire - 04/06/08 08:04 PM
Daily Real Estate News | March 31, 2008HUD Chief Expected to ResignDespite denying allegations of cronyism and favoritism, observers say HUD Secretary Alphonso Jackson will resign on March 31. The allegations against the housing official take attention away from efforts to curtail losses from the residential property slump and mortgage crisis, according to a letter from Sens. Patty Murray (D-Wash.) and Christopher Dodd (D- Conn.) asking President Bush to call for Jackson's resignation. Jackson has come under fire in recent weeks for questions surrounding contracts and grants involving contractors who donate money only to Democratic candidates. Jackson has also faced questions about the … (0 comments)
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Disney to the rescue - 04/06/08 08:03 PM
Daily Real Estate News | March 31, 2008Disney Proposes Luxury DevelopmentIf you'd like to live in a luxury house next door to Mickey Mouse, Florida's Disney World is about to make your dream come true.The proposed property will be built on the banks of Walt Disney World canals. The project could encompass as many as 373 single-family homes, 200 multifamily homes, and 60 time-share units.A Four-Seasons Hotel is expected to anchor the resort. Marilyn Waters, spokeswoman for Walt Disney Imagineering, the Disney office that handles real-estate development, compared this proposed resort to the Four Seasons-anchored Aviara community in San Diego, a high-end vacation … (0 comments)
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Homeowners have help on the way? - 04/06/08 08:02 PM
Daily Real Estate News | March 31, 2008Bush: More Help on Way for Home Owners The Bush administration released over the weekend a sweeping proposal to revise regulation of financial markets.The proposal, which will be outlined in detail April 1, will merge or eliminate some long-standing institutions like the Securities and Exchange Commission, and streamline others. The Federal Reserve would get a new role as the super cop in charge of financial-system stability. Some proposals are expected to directly address the current mortgage-risk problems. Treasury Secretary Henry Paulson, who authored the plan, says it wouldn't necessarily prevent future financial crises."I don't think any … (0 comments)
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GPS ideas - 04/06/08 08:00 PM
Buyer's Guide: GPS and mapping tools Getting There Just Got Easier Navigation systems can make your job easier in ways you never expected. BY MICHAEL ANTONIAKGPS OverviewTry it OutSlideshow: Product GuideIn real estate, much of your days are spent driving from listing to listing. The latest GPS navigation tools can be your answer to keep a hectic day on track, plan the most effective routes, and even plot out a self-guided tour of homes for your customers. "I wouldn't know what to do without GPS, it just makes it so much easier to get around," says Missy DeHaven, residential salesperson with … (0 comments)
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Keeping your team upbeat - 04/06/08 07:58 PM
For Brokers 2008 List Issue: Keep Your Team Upbeat Today's uncertain business environment is a pressure cooker for brokerage managers. How do you keep your associates productive and upbeat? How can you cut costs and generate more business? Tap ideas here from veteran brokers and management pros.What's Popular in Training TodayAre You Brand Consistent?10 AfBA Mistakes That Violate RESPAHow to Downsize EffectivelyShould You Partner With Online Listing Sites?Effective Communication: It's No Mystery3 Easy Ways to Green Your OfficeHow to Deal With GripesWhat's Popular in Training TodayDifferent times call for a different training emphasis. Although prelicensing classes will never go away, brokerages … (0 comments)
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Homeowner rage! - 04/06/08 07:57 PM
Daily Real Estate News | March 28, 2008Foreclosed Owners Paid to LeaveAbout half of foreclosed properties are trashed by homeowners on their way out, according to a recent survey of real estate professionals by Campbell Communications, a marketing and research firm.Banks rarely pursue charges against destructive home owners; it's not worth the cost and trouble. Instead, many are trying to prevent home rage by giving the real estate professionals who take on the sales listing authorization to offer somewhere between $300 and $1,000 to occupants to get them to leave the property intact and broom clean.A bribe? "Yeah, somewhat," says John Carver, an … (0 comments)
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Builders - 04/06/08 07:55 PM
Daily Real Estate News | March 28, 2008Slow Sales Drive Some Builders to BrinkSmall and mid-size builders in regions of the country where housing sales are slow are facing bankruptcy in increasing numbers. Delinquencies on loans to build single-family houses reached 7.5 percent of the value of all such loans in the fourth quarter, up from 2.1 percent a year earlier, according to Foresight Analytics, an economic and real-estate research firm."Even rock-solid, generational businesses are taking desperate measures," says Jerry Howard, the chief executive of the National Association of Home Builders. While the industry group does not track bankruptcy filings by its members … (0 comments)
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Racially administered mortgages? - 04/06/08 07:54 PM
Daily Real Estate News | March 28, 2008Mortgages Tailored to Islamic Home BuyersA few years ago, an Islamic home buyer would have found it almost impossible to get a mortgage compliant with Islam's sharia law, which prevents the faithful from paying interest. Today, sharia-compliant loans are a growing market. In a report last month, credit-rating agency Moody's Investors Service said the global Islamic finance market has increased about 15 percent in each of the past three years and is now worth about $700 billion worldwide. All the largest lenders, including Citigroup, HSBC, and Deutsche Bank, have affiliates devoted to Islamic finance.An Islamic mortgage … (0 comments)
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Obamalama...god help us! - 04/06/08 07:52 PM
Daily Real Estate News | March 28, 2008Obama Criticizes McCain on Housing PlanSen. John McCain (R-Ariz.) has come under fire from Sen. Barack Obama (D-Ill.) for his lack of a plan for stabilizing the housing market. A day after McCain said in a speech that the government should not reward lenders and home owners for their poor decisions, Obama said the presidential hopeful's approach to the mortgage crisis would result in millions of people losing their homes and would mimic the strategy the Bush administration has pursued the past eight years. "It's the idea that government has no role at all in solving … (0 comments)
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Show me the money!!! - 04/05/08 09:21 AM
Daily Real Estate News | March 20, 2008Fannie, Freddie Get Cash to SpendThe Office of Federal Housing Enterprise Oversight yesterday reduced the amount of capital it requires Fannie Mae and Freddie Mac to maintain from 30 percent to 20 percent.That means the companies are being allowed to take about $200 billion that they were previously required to hold in reserve against losses and invest that money in home loans.''Additional capital will enable the companies to help more homeowners and will strengthen the underlying fundamentals of the mortgage market,'' said Treasury Secretary Henry M. Paulson Jr.Officials hope that this move will reduce the cost … (0 comments)
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New revenue for Realtors - 04/04/08 10:52 AM
Daily Real Estate News | March 20, 2008Practitioners Dig Up New RevenueRather than flee the real estate industry due to the housing downturn, experts say real estate practitioners should use their skills and experience to offer services outside of buying and selling homes to supplement their incomes. They could write about the real estate market for newspapers and blogs; sell advertising space on a neighborhood Web site, newsletter, or blog that they create to local businesses; become a licensed appraiser; or provide tours of the local area to visitors. Additionally, practitioners can supplement their income by helping businesses with search engine marketing, translating … (1 comments)
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J Manno
Newport Beach,
CA
More about me…
Summit Realty Group, Inc.
Office Phone: (888) 774-1198
Cell Phone: (714) 883-1181
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