Lenn Harley, Broker, Homefinders.com in Maryland and Virginia

THE VIRGINIA ASSOCIATION OF REALTORS PLANS TO PARTICIPATE IN THE CREATION OF A "HOUSING AFFORDABILITY INDEX".

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Thu, 19 Nov 2009 06:03:01 -0600

THE VIRGINIA ASSOCIATION OF REALTORS PLANS TO PARTICIPATE IN THE CREATION OF A "HOUSING AFFORDABILITY INDEX".

I read an interesting post on the VARBUZ this a.m. VAR and Housing Virginia plans to develop a "Housing Afforability Index".

Dr. Yun, Chief Economist is quoted, "NAR's Chief Economist, Lawrence Yun, says that today's homes are more affordable than at any time in the past 40 years." Sadly, real estate practitioners who actually sell real estate might doubt the accuracy of that statement. Worse yet, this proposed index is statistical based and ignores the local and hyper-local budget needs of consumers that affect monthly housing costs and individual budget needs.

I am of the opinion that housing "affordability", in terms of what can the consumer afford, cannot be indexed by any set of criteria using median housing statistics or median consumer statistics. Neither the consumer nor housing fits into any "median" statistical mold. Sadly, if real estate agents were trained and understand basic buyer qualifying skills, the need for a "Housing Affordability Index" wouldn't be considered because real estate agents would be providing this information for prospective home buyers.

30% OF MONTHLY GROSS INCOME?? First, the proposed index presumes that "affordability" can be determined by a simple mathematical formula of a percentage of income. This reminds me of the 20 year old "rule of thumb" that a consumer is qualified for a home priced at 3 times their gross income. It didn't work 20 years ago and won't work now.

TAXES, INSURANCE, TRANSPORTATION, FOOD, EDUCATION, ETC. WILL REMAIN THE SAME?? What these simplistic indices do is make qualifying for housing by price as simple as a percentage of a consumer's income which ignores local taxes, hyper-local hazard insurance costs, transportation costs, family size and so many more things that affect a consumer's ability to "afford" the purchase of real estate.

Dr. Yun's statement that "today's homes are more affordable than at any time in the past 40 years", is simply not, in my opinion, true, or should I say accurate. Dr. Yun is a positive voice for the NAR, yet when applied to the consumer, it is misleading and encourages real estate practitioners to avoid the hard work of really qualifying home buyers. If homes are more affordable, the use of a simple 30% index of affordability might work. However, when taxes, insurance, transportation, consumer goods, groceries etc. are less affordable, the use of a simple percentage of affordability misleads the consumer and many real estate agents.

WHAT IS THE GOAL OF THIS PROPOSED INDEX?? It saddens me that resources are used to promote simplistic systems and reports to convince the consumer that "yes, you can" without any solid foundation on which to accurately "qualify" disparete individuals without consideration of house type, location, family size, extended families, other contractual debts and more.

ALL HOME BUYERS ARE DIFFERENT AND DON'T FIT INTO A STITISTICAL MOLD. I would suggest that the consumer would be better served by NAR and VAR members who received quality training to qualify home buyer, a topic for which there is a dearth of Continuing Education courses. Qualifying prospective home buyers is a skill that is included in pre-licensing education. Yet, once an agent has their license, it's rarely mentioned and "send them to a lender" is the usual first step. Often the agent never really knows just what their buyer/client's financial profile is or how a particular house payment will affect their other necessary living costs.

GET BACK TO BASICS. I believe that there is a void in our industry and that is the ability of the average real estate agent to understand just what a prospective home buyer's "affordability index" is based on the individual consumer's financial profile. Trying to fit median buyers into median housing price statistics will produce more confusion for the consumer and more avoidance on the part of agents to learn the skills needed to provide quality representation to the home buying consumer.

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.

"Honey, can we really manage the house payments the agent said we can pay?"

"Of course, Dear, it's 30% of our income. That's what the Housing Affordability Index shows"

MAKE YOUR CHOICE, HOME EQUITY OR $$ MONEY IN THE BANK!

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Wed, 18 Nov 2009 08:02:22 -0600

GIVE ME THE CASH!

WHERE DID MY HOME EQUITY GO??

Inspired by Jim Crawford's thoughtful examination of budgets, down payments, and more, I can relate the the matter of larger down payments vs. cash in the bank.

Tim Maitski says it best in his comment to Jim's post. "Jim, I don't understand how having a bigger downpayment benefits the homebuyer."

In a volatile housing market, I'm less interested in home equity than I am leverage and money in my bank accounts.

Back in June 2005 when I began to finance the home I was building, my lender tried his best to get another $80K from me for a higher down payment. For some reason, I resisted and thought I wanted to keep the cash for a rainy day. Little did I know that we'd face a Tsunami in housing values and I'd see about $400,000 wiped out by a gigantic wave of negative equity shared by about 15,000,000 other home owners.

HA! I watched $400K evaporate from house equity, but I still have that $80K.

Until the market recovers and I see sound appreciation, a home is for living, not investing. Your mileage may vary. However, our personal security is probably a tad more important than protecting the lender. I higher interest rate means a higher mortgage payment, but that interest is deductible and that helps.

Often the choice is a lower mortgage payment vs. cash in savings. I like cash.

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.

"Honey, are we going to make the higher down payment that the loan officer suggested?"

"No Dear, I believe we need to preserve our savings. We never know what might happen in the future."

Carlsbad Property Taxes - Do You Need to Appeal Your Assessment?

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Tue, 17 Nov 2009 05:18:04 -0600

YES!!! IF AT ALL POSSIBLE, APPEAL YOUR TAX ASSESSMENT.

This cannot be said too often. Cash starved counties are knowingly keeping assessments high to continue to collect real estate taxes at the higher assessed value. Home owners must be proactive to bring the assessment down.

I did and lowered my annual taxes by $1,500.

I've sent notice to home owners in my database to do the same. Sadly, some counties in my market area are on to this and have made the process more difficult and time limited. Home owners should check the regulations for appeal in their individual county. I've sent comperable SOLD information to home owners who have requested the help.

GREAT POST AND IT APPLIES ACROSS THE COUNTRY.

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.

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Via Jeff Dowler ~ Carlsbad Real Estate ~ 760-840-1360 (RE/MAX Moonlight Beach (CA DRE Lic. # 01490977)):

Carlsbad Property Taxes - Do you need to appeal your assessment?

My guess is that you do.

The assessed values of many homes in Carlsbad (and certainly elsewhere in San Diego County) have declined due to the housing market. So too have the assessed values which the San Diego County Assessor's Office uses to determine your property taxes.

If you believe your property's assessed value has declined, there IS something you can do - file an APPLICATION FOR CHANGED ASSESSMENT before November 30, 2009 for this current tax period to request a reassessment.

The form and instructions can be downloaded from the County of San Diego Appeals Board page or email me and I will send you the pdf.

You simply complete the appropriate sections of the form, sign and date it, and be sure to include the CURRENT value of the land and the structures (from your tax bill), PLUS YOUR estimate of value for these items, and you're done.

While there is no guarantee that your request will be honored, given the decline in values it is well worth a few minutes of your time.

Note that this is for 1 YEAR ONLY, and it is critical to still pay your current property taxes on time.

********************************

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If I can provide more information about Carlsbad real estate and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits

JUST WHAT IS IT THAT REAL ESTATE LICENSEES DO?? Part I.

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Mon, 16 Nov 2009 15:52:16 -0600

JUST WHAT IS IT THAT REAL ESTATE LICENSEES DO?? Part I.

"YOUR MISSION, SHOULD YOU CHOOSE TO ACCEPT IT . . . " is to manage the orderly transfer of real property from a seller to a buyer. The average consumer doesn't understand a fraction of what we do to help them accomplish their goal.

SELLERS. Home sellers are presented a simple-to-complex marketing plan by listing agents prior to listing the property for sale. The listing agent promises to perform a series of showing, advertising activities geared to receiving contract offers.

BUYERS. Buyers are assisted in their home search by agent(s) who helps to locate, tour properties for sale, write and negotiate the contract and arranging for settlement services.

Sounds easy doesn't it? Actually it is, in the hands of experienced listing and buyers agents and if nothing unusual occurs.

THE MOST HELPFUL AND LEAST UNDERSTOOD PART OF LISTING AND SELLING REAL PROPERTY is the complex and institutionalized systems which include the brokerages employing the licensed agents and brokers, the Multiple List Systems that make the homes for sale information available to licensees and now to the public, the board approved forms that provide consumer protections,

Achieving the consumer's goal of selling or buying real property requires the services of a variety of service providers in addition to the real estate licensee. Achieving the orderly transfer of real property from a seller to a buyer requires services of vendors that perform critical tasks to help the consumer achieve their goal. The vendors include but are not limited to: mortgage providers, home inspectors, termite/radon inspectors, appraisers, title services which include or are managed by attorneys.

WOW! How do we keep up with all of these tasks that are necessary to get to the settlement table? I'm going to disclose a secret that will help many consumers understand how things can go so smoothly and the consumer's goal of selling and buying real estate is achieved.

IT'S ALL IN THE CONTRACT!

That's right. IT'S ALL IN THE CONTRACT!

Getting to the settlement table begins with the selection of an experienced listing or buyer's agent who will MANAGE THE CONTRACT OF SALE. To demonstrate the importance of understanding contract management, below are the titles included in a typical Contract of Sale.

Description of Real Property
Price and Financing
Deed of Trust
Deposit
Down Payment
Settlement
Equipment, Maintenance and Condition
Utilities
Personal Property and Fixtures
Financing Terms
Appraisal
Purchasers Representations
Access to Property
Termite Inspection
Repairs
Damage and Loss
Title
Possession Date
Fees
Broker's Fee
Adjustments
Attorney's Fees
Performance
Default
Assignability
Definitions
Void Contract
Warranty

Listing agents and Buyers agents must not only understand the meaning and execution of each of these titles, they should help the seller or buyer understand the meaning of all parts of the contract that apply to their particular transaction.

Next: What Real Estate Licensees Do Not Do.

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.

Urgent for Citzens of Campton Hills

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Mon, 16 Nov 2009 06:06:59 -0600

WATCH WHAT THE POLITICIANS DO.

READ WHAT THEY PUBLISH.

UNDERSTAND WHAT ZONING CHANGES WILL ACCOMPLISH.

Control of zoning changes are one of the most powerful tools of local politicians.

Don't let them win by default.

FOLLOW THE MONEY. Most political actions are the result of a pay-off to or for a local politician.

If citizens are not a part of the solutions, they are part of the problems.

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Via Larry Bettag - Cherry Creek Mortgage:

I'm sure VCH hopes no one notices this Public hearing set for:

TOMORROW, NOVEMBER 16TH, 2009 AT 6:30 at the COMMUNITY CENTER.

Pay Attention to the Actions of the Campton Officials (I can't use the word "leaders" becase they're anything but that)!!!!

There's a zoning change request from a current land owner regarding annexation into the village.

The property is located at 2N190 Harley Road. (what it doesn't say is that for it to be contiguous to the Village, the property must start at 38 and extend down the west side of Harley to that address and maybe even further down Harley)

The Agenda also does not state the original zoning and what the change is being requested.   Maybe they don't want the citizens of Campton What the F____ Hills to know. There are assumptions that it's to change the zoning from Farming to some type of PUD/ Residential. HOW COOL IS THAT? Gotta love the Campton leaders here.

This may be your only chance to speak about this change before it happens!!!

This appears to conflict with Campton's own Comprehensive Plan for the Area. Check out... http://www.villageofcamptonhills.org/images/Campton%20Hills%20Comp%20Plan%20HR%201.pdf

The village is looking to grow (this time south of 38) and needs to agree to change zoning to meet with the owners request for annexation. ISN'T THIS WHAT ELGIN DID?    Annexed unincorporated land and changed the zoning to residential? Look out LaFox big bad Campton is coming.

Please get the word out, don't be fooled again.
Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172





An Illinois Residential Mortgage Licensee

MEDIAN THIS OR MEDIAN THAT. WHAT DOES IT MEAN TO THE CONSUMER and WHAT DOES IT MEAN TO THE REAL ESTATE PRACTITIONER?

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Sun, 15 Nov 2009 05:58:44 -0600

STATISTICS ARE A WONDERFUL TOY. I LOVE STATISTICS.

HOWEVER, THE DATA MUST HAVE SOME MEANING TO PRODUCE MEANINGFUL AND USEFUL INFORMATION. LET'S GET RID OF "MEDIAN".

The most recent market report for one area I follow on a monthly basis reports:

Average Sold Price Oct. 2009/2008:	$ 375,565	$ 374,141	0.38 %
Median Sold Price Oct. 2009/2008:	$ 342,000	$ 310,000	10.32 %

Clearly, the Average Sold Price above shows that prices are stable in this area. However, the Median Sold Price makes it appear that prices have increased more than 10% in the past 12 months.

HOW MISLEADING DATA HARMS THE CONSUMER. Would a seller want to use this data to overprice their home for sale?? You bet they would. Would this data lead a home buyer to believe that their newly purchased home would appreciate about 10% in value in the next 12 months? You bet it would.

Now, I know full well the meaning of median. However, I have yet to determine the value of median in evaluating real estate value. In fact, I've always avoided any mention of medianin market reports because, in my experience, sellers don't list for and buyers don't buy for the median price of homes for sale.

VOLUME vs. VALUE. I believe the government and national reporting services use median as a way to avoid meaningful data. It's meaningless to them but looks impressive in reports. Their interest is in amassing great volumes of data.

As a real estate broker and consumer of real estate data, I need meaningful data and information, the less the better to inform.

Median is the middle. So what?
Median means half are above and half are below. So what?

MEDIAN PRICE REPORTS MISLEAD CONSUMERS. Give me some data or information to which I or a consumer can relate. I have actually had consumers suggest that we should make offers for homes for sale based on the median prices for the area with no relationship to the actual property under consideration. A short description of what comparative market analysis means got the buyers on track. However, having the median data even published was a distraction for the home buyer. The consumer is always tempted to accept what is published vs. what is said by their agent.

MEDIAN = MUDDLED, MISLEADING and MINDLESS

AVERAGE = APPLICABLE, ACCURATE and AUTHENTIC

Courtesy, Lenn Harely, Broker, Homefinders.com, 800-711-7988.

REALTOR Cheatsheet: $8,000 Homebuyer Tax Credit Extended & Expanded

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Sun, 15 Nov 2009 04:27:31 -0600

THE HOME BUYER TAX CREDIT FACTS IN A NUTSHELL.

MIKE has written the most succinct and comprehensive description of the home buyers' tax credit I've seen.

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Via Mike Jones (SUNSTREET MORTGAGE, LLC):

REALTORS: HERE'S THE SKINNY ON THE $8,000 / $6,500 TAX CREDIT FOR HOMEBUYERS.

$8,000. Tax Credit Legislation Extended and Modified

Until the new legislation was signed into law, first time homebuyers could apply for and receive a tax credit in the amount of $8,000. when they purchased a home before the sunset date of November 30, 2009.

The new legislation, signed into law by President Obama on Friday, November 6, 2009

extends that date until April 30, 2010 for civilians, and to April 30, 2011 for certain military buyers.

increases the income limits so that millions more can qualify for the tax credit, and

enacts a reduced tax credit of $6,500 for move-up buyers who are not first time homebuyers.

Extended Timeframe

The existing sunset date established by the Housing & Economic Recovery Act of 2008 has been extended to April 30, 2010 for most buyers.

Qualifying members of the military who served outside the borders of the United States at any time during the period from 1/1/2009 to 4/30/2010 will have an extra year to apply for the tax credit.

Increased Income Limits

The earlier legislation put caps on income for single buyers at $95,000. Married buyers filing jointly capped out at $170,000.

The new legislation allows single wage earners to make up to $145,000, and married couples can earn up to $245,000.

NEW: $6,500 Tax Credit for Move-up Buyers

The new legislation provides a tax credit incentive for people who are not first time homebuyers. (A first time homebuyer is defined as one who has not owned a home in the last 36 months.) You may qualify for this $6,500 tax credit if you owned and lived in your home for five consecutive years out of the past eight.

Who does that help? Let’s say you sold your home in 2008. You’re not a first time homebuyer, but if you meet the “five of eight” criteria, you can buy a move-up home and still qualify for the $6,500 tax credit. Check with your tax professional for advice on your particular situation.

NOTE: Additional Requirements

There are other rules of eligibility in the legislation. (This list is not exhaustive, so you’ll want to check with your tax professional.)

You can’t buy the home from a relative.

You must be 18 or older

You cannot be claimed by any other taxpayer as a dependent

If you’ve sold a home, and that sale affects your eligibility, you must included the settlement statement (HUD-1) with your tax return.

Most buyers (check with your tax professional) must live in the home for a minimum of three years or face a government demand for repayment.

Originally published on InvestmentRealEstateCorner.com by Mike in Tucson

___________________

I'm Mike in Tucson, your preferred Tucson, AZ Mortgage lender.

SUNSTREET MORTGAGE
Call me if I can help you or someone you know
with a purchase or refi mortgage.
(520) 349-9090

THE "WIZARD OF OZ" AWARD.

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Sat, 14 Nov 2009 05:48:33 -0600

THE "WIZARD OF OZ" AWARD.

Gene Wunderlich reports on the prognostications of Dr. Lawrence Yun, Chief Economist for the NAR.

At the NAR. Dr. Yun Prognosticates on Housing Recovery.

SO, Dr. Yun is one of the country's most "trusted" economists. I have a more apt award for Dr. Yun. If there were an award for the prognostications of Dr. Yun, it would have to be THE WIZARD OF OZ AWARD.

Like the wizard, Dr. Yun has a position of prominence due to the financial support of about 1.3 million hard working NAR members that makes his prognostications appear to be creditable.

However, once the curtain of obfuscation is drawn back, Dr. Yun, like the Wizard, will be exposed as a purveyor of "feel good" economic statistical manipulation.

SMOKE AND MIRRORS in the housing market analysis permits the prognosticators to focus on the increase in the simple numbers of homes sold. However, historical trends would be based on a comparison of a "greased" market with the market of a year ago - - before the tax credit (grease) was available. What a creditable prognosticator would demonstrate is the true cost to the economy of the actual cost of each sale that they can identify as the result of this stimulus, the tax credit.

Dr. Yun reports: "In fact, the credit is working better than first projected - it now looks like we'll have 2.3 to 2.4 million first-time buyers this year."

Again, I ask, "at what cost"? It would appear that the cost to the American public is about $18,400.000.000. Yes, that is $18.4 BILLION DOLLARS added to the American debt .

THE FARTHER IT GOES, THE LARGER IT GROWS. Dr. Yun's thinking or "rationalle for the tax credit" is, IMO, like a cascading snow ball on a Swiss mountainside. SOONER OR LATER, WE'LL BE BURIED IN DEFICIT, that is if we haven't already been so.

SOMETIMES IT ISN'T WHAT THEY SAY, BUT WHAT THEY DO NOT SAY.

PROMISES, PROMISES. Like the Wizard of Oz, the government promises to "help" the housing industry by "giving" first time home buyers an $8,000 incentive to buy a home. Will it help the housing industry?? Sure, for a short time. However, what happens when the government hand-outs end???

IS THE TAX CREDIT DOING ANYTHING TO HELP THE UNEMPLOYMENT RATE? Do I even need to answer that??

IS THE TAX CREDIT DOING ANYTHING TO REDUCE THE BUDGET DEFICIT? No need to answer that either.

IS THE TAX CREDIT INCREASING THE NUMBERS OF HOME BUYERS? It would appear so. However, how many of those first time home buyer simply moved their purchase dates forward from next year to this year?

DR. YUN SPECIALIZES IN "FEEL GOOD ECONOMIC PROGNOSTICATION" and that is not a long term cure for the housing market. National economic stability, high employment, rising earnings, higher take-home pay, low real estate taxes and more disposable income would surely do more and without increasing the debt.

WHAT ABOUT THE AMERICAN HOME OWNERS TRAPPED BY NEGATIVE EQUITY? Where do the 20,000,000 American home owners who lost all of their equity, their retirement nest egg, their financial future fit into Dr. Yun's economic prognostications???

"Honey, do you think we'll be able to move to a larger house before the baby comes?"

"No Dear, we owe about $300,000 more than what homes here are selling for. It will be many years before we can move to a larger home"

Courtesy, Lenn Harley, Broker, MD and VA, Homefinders.com, 800-711-7988.

Sauron's Revenge

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Fri, 13 Nov 2009 06:53:28 -0600

Or, perhaps the home buying public is like me, never having read or seen a movie about "the ring", their theme escapes me.

However, on the other hand, mainstream quality housing designs, the McMansions, if you will are selling well in my area.

Folks don't often respond to quirky in real estate design. They like comfortable.

Just my opinion, of course.

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Via Steve Heydel--30% Referral Paid to AR Members (Cumberland Real Estate & Auction):

Several years ago I came across an article about this really unique neighborhood development in Bend, OR, called "The Shire". Following up, intentionally or not, on the mega-success of "The Lord of the Rings" movie trilogy, the homes and ambience of this development are Tolkien-inspired.

Well, the Eye of Sauron, in the form of our current economic meltdown, has struck the Shire. Having only sold one home in the Shire (according to the news release), bank ownership has set in. On the downside, a really cool idea has gone down; on the upside, anyone have $1.3 million to play with? If so, you can buy the development.

In the time of McMansions and cookie-cutter five-four-and-a-door homes, I think its a shame a novel (no pun intended) concept such as this has become stranded in Mordor.

A Hard Look At Reality: When Has The Federal Deficit Been This High?

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Fri, 13 Nov 2009 05:46:59 -0600

You wrote:

"To what event will history attribute that blue spike on the right, a deficit never equaled except in a time of world war?"

I believe that we ARE, indeed, in a "time of war". I also believe that our present national financial mess began on 9/11 following a period when our government ignored the physical attacks on our property and military installations around the world.

The perpetrators of 9/11 were not criminals, they were enemies of our state, though they do not represent one state. As long as our government prefers to white wash the motivations of our enemies and try them as criminals and not prisoners of war, our enemies will be free to continue their jihad while our government shakes in their boots with no clear way to defend our country and our citizens.

Our country is under siege by our enemies and our institutions are under siege by our government.

It's ugly and I don't know what it will take to wake folks up other than a mushroom cloud over New York City.

Don't believe me?? On the news this a.m., it was announced that Khalid
Sheikh Mohammed, the mastermind of 9/11 will be tried in civilian federal court in NYC. Of course, he'll receive all of the protections of the U.S. Constitution.

Just because there's been no declaration of war doesn't mean that we are not under attack. Enemies of the U.S. who don't wear uniforms and insignia and who do not kill Americans in the name of a foreign country are still enemies of our country. Our citizens are still just as dead as the Sailors at Pearl Harbor.

If I seem to be off-subject for this reblog, my apologies, but I don't believe that we can separate our present fiscal disaster from the fact that there IS a war going on.

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Via Mike Jones (SUNSTREET MORTGAGE, LLC):

A picture graph is worth 1,000 pages of congressional lawmaking.

The chart on the left was compiled by Bloomberg, and shows the budget surplus / deficit as a percentage of Gross Domestic Product.

I came across this chart this morning, and mentally did an overlay of historical events. That led me to wonder what a longer historical perspective would show.

Deficits since the Civil War

I found the most interesting and interactive website to help me with this. The chart below shows the Federal Deficit as a percentage of Gross Domestic Product since 1860. You'll want to note some significant events that have taken place in our nation since that time, and overlay the events on the chart.

The American Civil War

1861 to 1865

US Involvement in World War I

1917 to 1919

US Involvement in World War II

1941 to 1945

The First Gulf War

1990 to 1991

The Iraq War

2003 - 2009

And that leads me to wonder this: To what event will history attribute that blue spike on the right, a deficit never equaled except in a time of world war?

Back to that first chart...

From the TARP bill to the current legislation passed over the weekend under the heading "health care reform," it's apparent that none of the elected representatives we voted into office take the time to READ, EVALUATE, and UNDERSTAND the legislation they enact into law.

"There wasn't time," I've heard lawmakers say on CNN, "the crisis was so great that we had to act..."

I beg to differ.

You can't run your real estate business like that.

You can't operate your household like that.

We ought not to let our representatives run our country like that.

The Voter Revolution

2009 to ...

___________________

I'm Mike in Tucson, and I blog here on the Active Rain Real Estate Network just about every day.

I'm an internet-based mortgage lender who happens to reside in Tucson, Arizona. Read my blog, and get to know me. The internet allows me to perform at the highest level of trust and productivity.

Sunstreet Mortgage is a correspondent bank.

Click the Active Rain link below to see my guarantee of service.

SUNSTREET MORTGAGE, LLC
a correspondent banker
Call me if I can help you or someone you know
with a purchase or refi mortgage.
(520) 349-9090

LEESBURG VA NEW HOMES READY FOR QUICK OCCUPANCY. 3 MODELS, ALL READY FOR A NEW OWNER.

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Wed, 11 Nov 2009 17:13:56 -0600

NEW HOMES IN LEESBURG VIRGINIA READY FOR QUICK OCCUPANCY.

3 MODELS, ALL READY FOR A NEW OWNER.

EUREKA! 3 NEW HOMES IN LEESBURG READY FOR QUICK POSSESSION FOR BUYERS.

Home #1, $569,990 $506,990

FEATURES

$ 539,990 $506,990

Single Family

3900 Sq. Feet on 3 finished levels

4 bedrooms & 3 1/2 baths

MAIN LEVEL

Living Room
Dining Room
Office/Den
Kitchen
Powder Room
Family Room
2 Car Garage

UPPER LEVEL

Owner's Bedroom Suite with Sitting Room and Spa Super Bath

3 Additional Bedrooms and Hall Bath

LOWER LEVEL

Recreation Room and Full Bath

TWO ADDITIONAL HOMES READY FOR QUICK OCCUPANCY.

This home priced at $578,510 $516,990. This home priced at $586.213 $515.990.

This community is located on Route 621, Evergreen Mills on the south side of Leesburg in a rural setting. Lots are wooded and the community offers amenities including a Community Center, Jogging/Walking paths, Outdoor Pool, Tot Lots and Playground.

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Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988, E-mail.

"NEVER A FEE TO BUYERS" Ask about the Homefinders.com New Home REBATE!

Loudoun County Virginia - Search Homes for Sale.
Contact us to tour homes in Loudoun County, VA. 800-711-7988.

For your copy of the Homefinders.com home buyers relocation package, just give me a call. Whether you're moving to Loudoun County from out of the area or just across county, we can help.

SATISFIED WITH "LETTING THINGS HAPPEN"? . . . BEING SATISFIED MEANS BEING LEFT BEHIND.

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Wed, 11 Nov 2009 06:17:59 -0600

JUST BE SATISFIED??

I read a blog post this a.m. written by a thoughtful ActiveRain member that sent a mixed message to me.

Adrienne Deans relates her experiences with leaving one brokerage for another in her question to grow her business and reach a higher level of achievement. Sadly, her former broker's message to her was that she should "be satisfied" with her present position and that she should simply "let things happen naturally".

Sorry to disappoint, but, in the real estate business, things don't "happen naturally".

HAVE A PLAN AND FOLLOW IT. Things are made to happen by real estate practitioners who have a plan, follow it and change their plan to adjust to changing markets. Never, in all my years in this business have I seen a real estate licensee succeed or even survive, by simply letting things happen naturally.

FOLKS ARE USUALLY LEADERS OR FOLLOWERS. I don't believe that people change that much. Unless you have actually lowered your income goals, you'll find that you'll need to work and perhaps even change direction from time to time to continue to achieve goals that we set for ourselves. Real estate practitioners who can change direction, understand and capitalize on market trends will usually find continued success.

FOLLOWERS, however, by waiting for business to come along, ignoring market trends and waiting for things to happen could soon find themselves our of resources and out of business.

As for your old broker, most employing brokers prefer agents who are "satisfied" with just enough to pay the broker a nice split, but not sufficient for the agent to want to move to a higher level and reduce the broker's split. The large real estate companies continue to dominate market share and volume but agents who remain"satisfied" waiting for thing to happen naturally will see their fellow agents' listing and selling volume continue to grow while their own does not.

THE LITTLE KNOWN REAL ESTATE BROKER "SECRET". Large brokerages thrive on two things;

(1) market share, and
(2) broker/agent commission splits

MARKET SHARE. Ever wonder why the heavy listing agents get the best offices, clerical assistance, advertising help, open house volunteers and invitations to the "top producers" breakfast meetings?? Even in a slow market where those listing are not selling, the top listing agent get the broker respect and support. It's the market share of listing that they bring to the broker. If there are 25 For Sale signs in a popular community and 10 of them are from one real estate company, that company will dominate the market for:

LIST TO LIVE? Well of course. Few new agents have not heard the advise of real estate school instructors say, "You can be at the beach and still sell homes." Listing agents can easily carry 10-20 listings, service them well and they will be paid no matter who brings the buyer. Buyers' agents, on the other hand, because of the nature and time constraints of acquiring buyer clients, showings, previewing, touring and managing offers/contracts are limited in the number of actual sales (income). The buyer's agent can only receive a commission for the buyer's side of the commission. The listing agent/broker has the potential to receive both "sides".

Why listing agents lead the market.

Listings - The old maxim "list to live" is still taught in real estate school, CE and employing brokers.
Signs - If one broker's For Sale signs dominate, owners will contact that company to list their home.
Showings - Every prospective buyer who visits a listing is a potential customer or client to list or buy.
Advertising - Advertisements in a magazine, web site, blog, newspaper or sign can lead to a sale.
Sales - Without sales, the agent won't survive and neither will be broker.
Commissions - For every listing generated by an agent, the broker has the potential of two "sides".

LETTING THINGS HAPPEN NATURALLY? I fear that would be a recipe for failure. Listings rarely come naturally.

No listings means no signs with your name and phone number.
No showings means no sales.
No advertising limits the potential to sell.
No sales, no commission.
No commission, no income.

BROKER/AGENT COMMISSION SPLITS means that the "satisfied" agent will continue to have a lesser commission split with their broker. Brokers recruit new agents who may only sell 2-3 homes a year and remain at a low commission split. Every wonder why brokers continue to hold the license of agents who may close only 2-3 sales a year? Those "satisfied" agents are, to the brokerage, money in the bank. Agents who "let things happen naturally" will not usually climb the broker/agent split ladder.

SUCCESS THROUGH VOLUME. How do Buyer's Agents who do not take listings survive and thrive? By becoming a broker and receiving a commission split from every commission earned by buyer's agents with the company.

Letting things happen naturally just might mean having to get a job. Real estate commission checks just don't happen naturally. They are rewards for a good job done. You can't just put in time and collect a pay check in the real estate business.

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.

ALERT! PAYPAL IMPOSTER ATTEMPTING TO GET INFO. PHONY MAIL FROM PAYPAL IMPOSTER!

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Tue, 10 Nov 2009 04:03:42 -0600

This was in my mail box this a.m.

WATCH OUR FOR IT! IT'S A PHONY!

From:

service@paypal.com

Dear PayPal Customer,

We detected irregular activity on your account on 11/09/2009
For your protection, you must verify this activity before you
can continue using your account.

Please download "PayPal - Auth Form.html" and identify yourself.

Copyright © 1999-2009 PayPal. All rights reserved.

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ASHBURN VIRGINIA NEW HOME READY FOR QUICK OCCUPANCY.

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Mon, 09 Nov 2009 18:42:33 -0600

ASHBURN VIRGINIA NEW HOME READY FOR QUICK OCCUPANCY.

Located in one of Loudoun County's most popular communities in Ashburn, this newly constructed home is ready for quick occupancy.

Three finished levels provide 4 bedrooms, 2 full and 1 half bath and a finished basement for new owners.

Tour this brand new home here and if you like what you see, the price is right.

$470,000

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Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988, E-mail.

"NEVER A FEE TO BUYERS" Ask about the Homefinders.com New Home REBATE!

Loudoun County Virginia - Search Homes for Sale.
Contact us to tour homes in Loudoun County, VA. 800-711-7988.

For your copy of the Homefinders.com home buyers relocation package, just give me a call. Whether you're moving to Loudoun County from out of the area or just across county, we can help.

WATERFORD VIRGINIA NEW HOMES, TOUR ONE OF LOUDOUN COUNTY'S MOST BEAUTIFUL NEW HOME COMMUNTIES.

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Sun, 08 Nov 2009 17:20:49 -0600

WATERFORD VIRGINIA NEW HOMES.

TOUR ONE OF LOUDOUN COUNTY'S MOST BEAUTIFUL NEW HOME COMMUNITIES.

I LOVE NEW HOMES. I love to sell new homes and tour the models and home sites regularly. Selling new homes for more than 20 years, I've learned what features attract new home buyers.

THIS COMMUNITY IN WATERFORD IS MY FAVORITE "LARGE LOT" COMMUNITY. With lots of 3 acres or more, all the home sites offer privacy and room for homes with a nice large "foot print", meaning the exterior dimensions of the structure.

INTERIORS ARE IMPORTANT AND SOME FEATURES ARE VERY MUCH IN DEMAND BY NEW HOME BUYERS.

Dramatic Stair Cases in Open Foyers sell homes. Gourmet Kitchens with Islands and Granite sell homes.

A Fireplace is a MUST in luxury homes. Brick Fronts, 3 car side load garages help sell homes.

All home sites are 3 acres or more and all homes have side load garages.

City	ListPrice	Type	Style	BR	BathsAll	# Gar
Waterford	$649,900	Detached	Colonial	4	5	3
Waterford	$692,000	Detached	Colonial	4	3	2
Waterford	$697,995	Detached	Colonial	4	5	2
Waterford	$724,995	Detached	Colonial	4	4	3
Waterford	$725,995	Detached	Colonial	4	5	3
Waterford	$738,995	Detached	Colonial	4	5	3
Waterford	$755,995	Detached	Colonial	4	4	3
Waterford	$803,995	Detached	Colonial	4	5	3
Waterford	$806,995	Detached	Colonial	5	5	4
Waterford	$969,995	Detached	Colonial	4	4	3
Waterford	$1,019,445	Detached	Colonial	4	5	3
Waterford	$1,029,995	Detached	Colonial	4	5	3
Waterford	$1,175,000	Detached	Colonial	6	9	3
Waterford	$1,395,000	Detached	Colonial	5	7	3

Waterford is a quick 10 minutes from Leesburg and 20 minutes to Dulles Airport.

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Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988, E-mail.

"NEVER A FEE TO BUYERS" Ask about the Homefinders.com New Home REBATE!

Loudoun County Virginia - Search Homes for Sale.
Contact us to tour homes in Loudoun County, VA. 800-711-7988.

For your copy of the Homefinders.com home buyers relocation package, just give me a call. Whether you're moving to Loudoun County from out of the area or just across county, we can help.

LOUDOUN COUNTY VA YARD MAINTENANCE. EVEN THE YARD TRIMMINGS CAN OFFER A BIT OF LANDSCAPING STYLE AND BEAUTY.

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Sun, 08 Nov 2009 05:55:20 -0600

LOUDOUN COUNTY VA YARD MAINTENANCE. Turning a chore into a landscaping adventure.

EVEN THE YARD TRIMMINGS CAN OFFER A BIT OF LANDSCAPING STYLE AND BEAUTY.

Last week was my landscaping chores included trimming back the shrubs and ornamental grasses in preparation for (eeekk, I don't even want to whisper the word, winter). However, I know it had to be done and we got to it.

TURNING YARD TRIMMINGS INTO LANDSCAPING ACCENTS. I love ornamental grasses. They are quite beautiful and decorative with a certain dominating feature, height. They do, however, have to be cut back in the fall so they grow back healthy and strong in the late spring. So, we got to it. Chop, chop.

Tall Grasses Before Cutting Back.

WAIT! Don't throw those beautiful grasses away. Let's use them.

View from the yard.

Tall Grass Cuttings Decorate the Landscaping.

It was simple to accomplish. We just took the grass trimmings, bundled them and tied them to the fence posts. Yes, the "fence" is decorative too.

Use your imagination and create an oasis in your landscaping. This area is a bulb garden which in the Spring will be full of beautiful Tulips and Daffodils. In the meantime, we still have a lovely scene.

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.

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Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988, E-mail.

"NEVER A FEE TO BUYERS" Ask about the Homefinders.com New Home REBATE!

Loudoun County Virginia - Search Homes for Sale.

Contact us to tour homes in Loudoun County, VA. 800-711-7988.

For your copy of the Homefinders.com home buyers relocation package, just give me a call. Whether you're moving to Loudoun County from out of the area or just across county, we can help.

Canyon Lake to local Businesses - Tax You!

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Sun, 08 Nov 2009 04:14:53 -0600

When does a $20 bill turn into a $10,000 slush fund???

Answer: When it gets into the hands of a Two Bit ($0.25) politician's grubby hands.

How may real estate licensees are in Gene's area?? I don't know but a simply hypothetical 500 licensees will give these local politicians a real $10,000 to play with and that's just the real estate licensees.

With brokerages closing throughout the country, assessing a tax/fee/tax/fee/tax on them is simply nonsensical.

Gene's post, while local, can easily be extrapolated to any local taxing authority in the country.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Via Gene Wunderlich - Realtor®, Government Affairs Director (Southwest Riverside County Association of Realtors):

Irony abounds. On the same day Los Angeles appointed a blue ribbon panel to study ways to reduce taxes and encourage business, the Canyon Lake City Council decided it was time to raise taxes, errr, FEES and singled out 'Professional Employees and Professional Licensees' for an additional tax, errr, FEE. (They went to great pains to point out in their ordinance that this is a FEE and shall not be construed as a TAX.) Whatever - the net result is if you're a professional licensee it'll now cost you more for the privilege of doing business in Canyon Lake.

Exactly why they singled out 'Professional Licensees' to hit up for more taxes, sorry - FEES, is anybodies guess. Maybe the city leaders just figured that's where the money's at since it apparently isn't in the city coffers and they need more. So they determined that in addition to the customary 'Business License Tax' that owners of every business pay every year, they were going to break that down even further to "protect the public health, safety and welfare as well as provide for efficient administration of the program". That's clever - invent an unnecessary program and then tax people to run it. These people may have bright futures in state politics.

Ryan Smith, IVAR GAD, board Counsel John Giardinelli and I have been working with the City to address the madness of this ordinance since July. We have held numerous meetings with city staff and counsel and, as of a month ago, had actually reached what we felt was an equitable compromise. Unfortunately the CL Mayor visited her hairdresser a few days before the most recent council meeting and the current Ordinance 121 revision was the result of that high level conference. (No, I am not lying).

From here on out, any 'Professional Associate or licensee' including, but not limited to, realtors, attorneys,beauticians, barbers, manicurists, dentists, dental hygienists, veterinarians, doctors, podiatrists and chiropractors get to pay extra to operate in Canyon Lake. It applies to 'businesses which have a fixed location within the city as well as those which do not'.

So if you're a Broker, attorney, doctor, etc. with an office in Canyon Lake, you will owe this extra fee for every licensee under you. If you are a Realtor from elsewhere and you list a property in Canyon Lake, they will send you a bill. They are unclear on whether they can bill your Broker for every agent in your office whether or not they do business in Canyon Lake but for sure you'll get a bill because of your sign. If you represent a buyer on a property in CL, they have no way of figuring that out so you can either just pony up the tax, errrr FEE because you are a fool, or you get a free pass.

I'm sure all the agents from San Diego and Los Angeles (& Murrieta and Riverside) listing bank-owned homes in Canyon Lake will just be falling over themselves to send in that extra payment.Their code enforcement person is going to have a full time job tracking down these signs, sending bills, stopping by offices to count noses and ensure compliance etc.

What? You say they don't have and can't afford to devote a full time code enforcement officer to this effort? Jeez, maybe it's gonna be a challenge collecting those payments from Ventura and the OC then. If they're lucky a few businesses in Canyon Lake might comply - everybody else will just give this program the respect it so richly deserves - doo-dah.

The City claims this is necessary for 'disaster preparedness and in the event of an emergency'. So by their logic, if your building is on fire, instead of calling the owner of record they could just call some random Realtor or hairdresser. If your business is being burgled, don't call the manager, just call somebody that does nails in the back stall or a random podiatrist. Yeah, that makes sense.

In summary, under Ordinance 121, the City of Canyon Lake has singled out 'licensed professionals' working in or thinking about working in the City for an additional tax, errr, FEE. They claim they need to do this for 'disaster preparedness and emergency contact', and they're counting, in large degree, on voluntary compliance because they don't have the manpower necessary to enforce it. They have invented an unnecessary program and want to charge you an additional fee to implement it.

At this point you may be wondering what the additional tax, errrr FEE is? $20. That's right, $20. One lonely Andrew Jackson. As a representative from their Chamber asked, why is the City willing to piss off some 300+ business' still hanging on in Canyon Lake over $20? If they're lucky, they might generate a few grand. Probably not. He told them straight out "You aren't listening!". He was right.

If there's any good news to be gleaned from this ludicrosity, they started out demanding $90 a head, they ended up at $20. Of course since the amount of annual increase is unspecified, they could decide to jack it to $90 next year now that it's in place.

Anyway, if you're thinking about dong business in Canyon Lake, you might want to check out the City's record on business friendly ordinances before you jump. Menifee, Lake Elsinore & Wildomar are right next door and they would love to have your business. And it won't cost you an extra $20 a head to do it.

You can read the full text of this ordinance if they every figure out how to post it to their website.

I'm more excited about the extension of unemployment benefits than the tax credit extension

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Sat, 07 Nov 2009 05:46:56 -0600

A SMALL HELPING HAND FOR THE UNEMPLOYED IN MICHIGAN. Of course, the question is, "what happens in 20 weeks?"

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Via Kris Wales - Macomb County MI real estate blog & homes for sale search site (Keller Williams Realty - Lakeside Market Center):

Unless you live in Michigan, or one of the other hard hit by unemployment states, the signing of H.R. 3548 by President Obama yesterday probably was good news to you because of the extension to the first time home buyers tax credit. Here, in my local area, I'm cheering because there will be thousands and thousands of out of work people who will continue to receive an unemployment check, for at least 20 more weeks.

How hard hit is my area by unemployment?   (Look at these numbers and try to remember that the numbers reflect real people and their lives, and isn't just data.)

Michigans overall unemployment rate at the end of September was reported to be 15.3 percent.    In Wayne County alone it was 18.3 percent.   The city of Detroit?   A staggering 28%.

Many of those people who were laid off at the beginning of this year, or late last year, have not found replacement jobs.   It has been reported that approximately 44,000 people in Michigan cashed their last unemployment checks in October.

Coming in to the winter months and having their unemployment benefits cease would be cruel. Thank you to all of our government officials for taking care of this and giving an extended lifeline to those who so desperately need it.

When I read the news yesterday about the President signing this bill I was excited, and relieved, more so for those who cashed their last unemployment checks then I was for future home buyers.   Needs first - wants later.

Contact Kris Wales - A partner for your real estate needs in Macomb County MI

Search Macomb County MI homes for Sale with MLS provided data updated daily.

Want to chat about local real estate? Visit A Macomb County MI real estate blog

DOES NEGATIVE ADVERTISING WORK IN THE REAL ESTATE INDUSTRY?

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Sat, 07 Nov 2009 05:36:02 -0600

NEGATIVE ADVERTISING WORKS IN POLITICS. DOES IT WORK FOR REAL ESTATE PRACTITIONERS AND/OR HOME STAGERS???

This post inspired by an article on ActiveRain last evening seeking opinions as to whether a listing agent could be sued for damages for publishing poor photographs in an MLS listing. I saw the article as an example of negative advertising. The question for real estate practitioners is does negative advertising work?

That public post was written from the perspective of a home staging entity for whom the visual is everything. Experienced real estate practitioners know that there are many important factors in the MLS listing information report other than or in addition to photos. The post is silent as to the skill or experience of the home staging company.

EXAMPLE.

The photo on the left in a listing may not meet the photographic standards for a stager. However, the purpose of this photo is to show the "split staircase", something the importance of which I suspect may not be understood by the average stager.

The purpose is to appeal to moms and dads who don't want a floorplan with a long staircase and prefer the split staircase so that, if a child falls, they will not go down a complete level of steps.

Listing photos are for buyers, not stagers.

NEGATIVE ADVERTISING?? If only Home Staging companies would stick to their core business, that of improving the appearance a property for sale, for a fee. Do they really get business by denigrating real estate practitioners???? Must they so often attempt to enhance their own value by impugning the value and the practices of listing agents. One thing is clear.

IF THE PROPERTY SOLD, IT WAS DUE TO THE CLEVER STAGING.
IF THE PROPERTY DIDN'T SELL, IT WAS BECAUSE OF THE INCOMPETENCE OF THE LISTING AGENT.

Neither, of course, is true. There are nuances in selling a property that aren't addressed by staging.

That post is a classic example of stretching. Not only does the home staging entity criticize the photo in a listing, they imply that the listing agent is violating their duty of fiduciary to their seller client. Contacting attorneys for legal opinions simply leads one to ask, WHY??? Do they really expect an attorney to act in a such an unprofessional manner as to give a legal opinion on damages "off the top of their head", as does the home staging entity???

Did it occur to the staging company that the seller may have asked the listing agent to include the photo of the recessed lighting because they were a point of interest in a room??? What does the staging company know about the dynamics of photo selection for this property listing???? Were they present when the listing agreement was done??

DAMAGES ANYONE? One more question. What does the staging company know about copyright infringement??? This Wordless Wednesday photo appears to be pulled from a listing and published in the post criticizing a real estate agent. Would that be a violation of the copyright of the listing agent and the MLS who owns the right to publish that photo???

I venture to say that damages for the use of a copyright protected photo by another would be easier to establish than failure of fiduciary of an agent who publishes photos in their listing.

FIRST TIME HOME BUYER TAX CREDIT EXTENDED AND EXPANDED TO MOVE-UP BUYERS IN NORTHERN VIRGINIA.

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Fri, 06 Nov 2009 15:56:35 -0600

FIRST TIME HOME BUYER TAX CREDIT EXTENDED AND EXPANDED TO MOVE-UP BUYERS IN NORTHERN VIRGINIA.

ALERT! First Time Home Buyers $8,000 Tax Credit EXTENDED and MOVE-UP buyers included.

The FIRST TIME HOME BUYERS TAX CREDIT is still available.

$8,000 TAX CREDIT or REFUND is available for home buyers of Northern Virginia real estate who purchase a home through April 30, 2010.

NEW PROVISION NOT LIMITED FOR FIRST TIME HOME BUYERS.

$6,500 TAX CREDIT or REFUND is available for home buyers of Northern Virginia real estate who have a signed Contract of Sale for a home before April 30, 2010 and close on the purchase prior to June 30, 2010.

For more information and help finding a home to buy, contact Lenn Harley, Broker, Homefinders.com, 800-711-7988.

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Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988, E-mail.

"NEVER A FEE TO BUYERS

Northern Virginia Real Estate homes for sale HERE - Search Homes for Sale.

Contact us to tour homes, 800-711-7988.

For your copy of the Homefinders.com home buyers relocation package, just give me a call. No matter where you're buying a home in Northern Virginia, Homefinders.com can help.

Homefinders.com real estate market area in Maryland and Northern Virginia.

FIRST TIME HOME BUYER TAX CREDIT EXTENDED AND EXPANDED TO MOVE-UP BUYERS in MARYLAND.

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Fri, 06 Nov 2009 15:51:12 -0600

ALERT! First Time Home Buyers $8,000 Tax Credit EXTENDED and MOVE-UP buyers included.

The FIRST TIME HOME BUYERS TAX CREDIT is still available.

$8,000 TAX CREDIT or REFUND is available for home buyers of Maryland real estate who purchase a home through April 30, 2010.

NEW PROVISION NOT LIMITED FOR FIRST TIME HOME BUYERS.

$6,500 TAX CREDIT or REFUND is available for home buyers of Maryland real estate who have a signed Contract of Sale for a home before April 30, 2010 and close on the purchase prior to June 30, 2010.

For more information and help finding a home to buy, contact Lenn Harley, Broker, Homefinders.com, 800-711-7988.

================================================================

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988, E-mail.

"NEVER A FEE TO BUYERS"

Maryland Real Estate homes for sale HERE - Search Homes for Sale.

Contact us to tour homes, 800-711-7988.

For your copy of the Homefinders.com home buyers relocation package, just give me a call. No matter where you're buying a home in Maryland, Homefinders.com can help.

Homefinders.com real estate market area in Maryland and Northern Virginia.

NEWS FLASH ! ! ! ! UNEMPLOYMENT AND JUMBO LOANS STATS BODE ILL FOR THE FUTURE OF HOUSING!

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Fri, 06 Nov 2009 07:43:10 -0600

NEWS FLASH ! ! ! !

UNEMPLOYMENT FIGURES FOR OCTOBER JUST ANNOUNCED. . . . . . drum roll please. . . . . . .

10.2%

'Nuff said.

What's the nexus between the just announced unemployment rate for October of 10.2% and Jumbo Loan Defaults?

Why do Jumbo loans default?

BECAUSE THE HOME OWNER LOST THEIR JOB!

1 in 10 Americans are unemployed. So says the Department of Labor. Dollars to donuts it's more. They don't count a lot of folks, like real estate agents with no business.

1 in 5 families has a family member who is unemployed.

Bummer.

Courtesy of "Hard Core Real Estate Talk".

WE'RE FROM THE GOVERNMENT AND WE'RE HERE TO HELP - - ALL WE WANT IS YOUR MONEY AND YOUR HOME . . . . A RANT!!

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Fri, 06 Nov 2009 05:52:08 -0600

WE'RE FROM THE GOVERNMENT AND WE'RE HERE TO HELP. . .

ALL WE WANT IS YOUR MONEY AND YOUR HOME!!

* * * * HARD CORE REAL ESTATE TALK * * * *

The new Fannie Mae program to "help" home owners in trouble is, IMO, the biggest fraud to come from the government in recent memory and there have been, IMO, a serial bombardment of government perpetrated frauds on the American home owner in the past year.

Trademarked the Deed For Lease, or D4L, a reading of the guidelines for this program along with the concomitant Deed In Lieu of foreclosure guidelines, the bottom line of the result of these programs, whether intended or not is: THE HOME OWNER LOSES THE HOME.

"Honey, did the government agree to help us keep our home?"

"Not exactly Dear, but the government says that they might agree to take our home and let us rent it for a year. They'll let us know after a credit review, but there are a few things. . . . . "

NOT ALL BORROWERS WILL BE ELIGIBLE. The guidelines require that the borrowers (home owner) agree to certain occupancy rules, not unreasonable on first reading. However, some of the details will limit elegibility, such as:

Marketable title is able to be conveyed (a title insurance policy is required).
If there are subordinate liens secured against the subject, lien releases can be obtained.

1. Everyone has title insurance, don't they?? Sounds simple enough, right? Perhaps, perhaps not. Title insurance policies are always a condition of a mortgage loan. However, they are optional for a borrower. Over the years, I have spoken with many home owners who did not obtain title insurance for their property, often at the advice of their agent. Go figure.

2. What might that subordinate lien be?

Subordinate Lien: Subordinate-loan. mortgage whose priority is below that of another mortgage, like a second or third mortgage or a home-equity loan.

Could it be a HELOC or simple Second Trust? During the years that FannieMae pushed, yes pushed and purchased the Alt-A loan and the numerous Sub-Prime loans, a plethora of subordinate liens were created and used. Often created at the time of purchase or later through subsequent borrowing against equity or refinance. The funding sources, often private investors, made these loans and recorded a proper lien in good faith based on the qualifications of the borrower at the time. Second Trust Notes are a commodity. They are traded, discounted, bundled and traded again and again. Sooner or later, someone is going to want to collect on that note. What's the incentive for the second trust holder to release? Recent experiences with Short Sales would indicate that second trust holders are becoming quite recalcitrant when asked to release a second trust note.

Second mortgage: A mortgage obtained by a home owner for a loan against equity or in excess of market value (often up to 125% of market value). The second, or third mortgage is subordinate to the first or primary mortgage.

WHY DID FANNIE MAE MAKE RELEASE OF ANY SUBORDINATE LIENS A CONDITION OF THE D4L (Deed For Lease)? Is this condition of the D4L the usual "government guideline glitch" tossed in to decrease the numbers of borrowers who would qualify? Or, is it simply a reflection of the "guideline stew" that can usualy be used to describe any of the government program to help home owners in trouble that have been promulgated in the past two years?

WHY ARE HOME OWNERS IN TROUBLE ALWAYS SUBJECT TO LOSS OF THEIR HOME? The American home owner isn't looking for a handout ala TARP, created to help banks in trouble to the tune of about a $Trillion Dollars, give or take a few $Billion Dollars.

TARP: Troubled Asset Relief Program (TARP) Information. The operative word to describe TARP is "Relief". Where is the "relief" for the troubled American Home Owner??? The banks qualifying for TARP got into trouble by trading in securities that were primarily backed by sub-prime mortgages, often mortgages that should not have been written. The mortgage instruments were then bundled, converted to marketable securities, MBS,and sold to investors in the USA and around the world. Investors clamored for more, more, more of these wonderful securities. Fannie Mae and mortgage investors created more and more and more such instruments secured by the primary residences of American Home Owners.

O.K. SO WE GET IT. The government was there to help the Wall Street and Main Street banks that invested in and sold the MBSs to the tune of multi-Billions of Dollars of tax payer money.

FAST FORWARD TO 2009 and THE FANNIE MAE, HUD and any government program to help distressed American Home Owners. The one theme that is pervasive is that THE HOME OWNER LOSES THEIR HOME.

MORTGAGE MODIFICATION IS A JOKE. The programs designed by HUD and Fannie Mae may do one of several things.

They may REFINANCE your loan to a lower interest rate. The home owner still owes far more than the market value of the home and will probably not be able to sell for many, many years.
They may MODIFY your loan to a lower monthly payment. The home owner still owes far more than the market value of the home and will probably not be able to sell for many, many years.

Is it any wonder that, to date, the government programs to "help"the American Home Owners have failed?

THE INSIDIOUS NEGATIVE EQUITY. The only true mortgage modification that would help the American Home Owner would be a REDUCTION OF THE PRINCIPLE BALANCE of THE MORTGAGE. Is there any government backed, financed, promulgated or regulated program to reduce the principle balance of mortgage loans secured by home owned by distressed home owners?? NO.

The government now says, through Fannie Mae, that if you own a home that is not FHA, VA, etc. financed or insured, the government may take your home and rent it back to you for 12 months. No doubt the government will find some way of spending more tax money to create a new program to market these "assets" that were formally HOMES.

For folks who hold the opinion that the American Home Owner doesn't deserve any help to keep their home, after all, they signed a contract, didn't they, it's an opinion that has my respect. However, what was the opinion of the same folks when the government gave Wall Street and the Big Banks a $Trillion Dollars or more??? Oh, I forgot. The government didn't ask for our opinion. That was the biggest "cram down" in history. I propose that a "cram down" for American Home Owners is long overdue.

One thing for sure. I believe that the American Home Owner would be a better partner in saving the American economy than the average Wall Street Investment Bank or Big Bank. The American Home Owners will again become a consumer. They will buy and sell real estate. They will go to the mall. They will take vacation. They will help the national economy. What did the Wall Street Gangs do with the $Trillions of tax money handed to them through TARP?

Later.

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.

REALTORS, LENDERS and OTHER ACTIVERAIN MEMBERS. . . WHO ARE WE AND WHY ARE WE HERE? PROFILE OF A CROSS SECTION OF FOLKS IN THE REAL ESTATE INDUSTRY.

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Wed, 04 Nov 2009 06:35:41 -0600

REALTORS, LENDERS and OTHER ACTIVERAIN MEMBERS. . . WHO ARE WE AND WHY ARE WE HERE? PROFILE OF A CROSS SECTION OF FOLKS IN THE REAL ESTATE INDUSTRY.

THINGS THAT ARE PRICELESS ON ACTIVERAIN. Inspired by Mike Jones and the photos posted by ActiveRain members by request of Mike Jones in his article, 1980 Business Card Photo Challenge... Who's Brave Enough?

"Who am I and what am I doing here?" Admiral James Stockdale, 1992.

THINGS THAT ARE PRICELESS. That quote is one of the more enjoyable memories of the Ross Perot presidential campaign. For folks too young to remember, or care, Admiral Stockdale was Ross Perot's running mate in 1992. That statement, the opening statement by Stockdate in the Vice Presidential debate, was absolutely priceless. Fact was, folks didn't know who he was and didn't know how or why he was selected for the awesome post of Vice Presidential running mate. However, after that "ice breaker", folks knew Stockdale as a thoughtful, articulate and experienced Naval officer, political observer and friend of the Presidential candidate, who had a delicious sense of humor (both of them).

THINGS THAT ARE PRICELESS ON ACTIVERAIN. The photos posted by ActiveRain members by request of Mike Jones at Mike's request in his article, 1980 Business Card Photo Challenge... Who's Brave Enough?

WHO ARE WE and WHAT ARE WE DOING TODAY?

We are the people that make the real estate industry work on a daily basis.

Real estate agents representing sellers. We are the drudge real estate agents who represent home sellers who bring homes for sale to market, perform the many necessary duties of a listing agent broadcasting the availability of properties through various venues, managing contracts of sale through the transfer of title from the seller to the buyer.

Real estate agents representing buyers. We are the drudge real estate agents who represent home buyers through the process from search to settlement managing the home tours, financing, inspections, title work and settlement/transfer of title from the seller to the buyer.

Loan Officers representing lenders that lend huge amounts of money. Managing the loan applications, qualifying, documentation, appraisal, approval of home buyers and loan huge amounts of money to enable successful transfer of title from sellers to buyers.

Home Inspectors. Examining properties from top to bottom, identifying defects, advising home buyers of the function of systems, useful life of systems and features of a property. Home inspectors provide services that give home buyers peace of mind and help buyers, sellers and agents avoid future problems.

Home Builders. Where would we be without them in the first place? Over the years, builders have transformed land into communities with homes for folks.

Home Stagers. Offering services to home owners to prepare and present their property for sale in the best light to appeal to home buyers.

WHO WERE WE THEN and WHAT DID WE DO IN THE PAST?

READ THE COMMENTS ON MIKE JONES' POST. They are priceless and speak volumes to the variety of backgrounds of agents, loan officers, home inspectors, stagers

WERE YOU BRAVE ENOUGH TO POST A PHOTO FROM THE 1980s? Mike asks, 1980 Business Card Photo Challenge... Who's Brave Enough? It doesn't have to be a business card photo. In fact, I doubt that many of us were in the real estate business in 1980, although I know many on ActiveRain who were. No matter, many posted photos anyway and they are not only fun and fascinating to view, they speak volumes to who makes the real estate industry run on a day to day basis. The photos also speak to what folks save. 1980 is a long time ago.

Kathryn Gorham - Just out of college.
Russel Ray - High school photo.
Sally Cheeseman - Family photo
Rita Burke - Baby photo
Kent Simpson - Teen age photo
Margaret Woda - Lovely then and lovely now.
Larry Hultberg - High School Track photo.
Jesse Clifton - Smiling then and smiling now.
Lenn - The more things change, the more things stay the same, except the hair color.
Bryant Tutas - Dancing and talking then. . . . .
Bo Kociuba - A competitor then and probably today too.
Mitchell Hall - Always the professional gentleman.
Jeannie Kontis - An important day for Jeannie.
Karen Hunt - A good sport.
Kat DeLong - Voices my sentiments exactly.
Patrick Randals - Teen ager cross country outfit and eating. Typical teen.
Mike Handren - My lips are sealed.
Brad Andersohn - Rock on.
Jennifer Monroe - Revealing the real Jason Sardi.
Robert Hammerstein - Rockin' and Rollin'.
Karen Cooper - High School Senior.
Paddy Pizappi - Pets and graduation.
Terri Ellis - Best drivers license photo I've ever seen.
Sharon Tara - Family photo.
Sandy Noll - High School photo.
William Johnson - Handsome then, handsome now.
Barbara Duncan - Professional then, professional now.
Julie Chapman - Hasn't changed since 1970. Agent then, agent now.
Jason Sardi - Appearance greatly improved through surgery.
Donn Bigda - Family photo and adventure photo.
Tracy Santrock - Big hair then, little hair now and still lovely.
Monica McGillicuddy - Hasn't changed a bit.
Jay McGillicuddy - Hasn't changed much. Still young at heart.
Bo Kociuba - Ah! A soul mate. An outdoors woman.
Robert Sweetz - Same hair. Hasn't aged a bit. How do they do that?
Mirela Monte - Gorgeous then, gorgeous now.

WHAT DOES ALL OF THIS MEAN? That folks in the real estate industry that keep the economy of the United State of America are as different as night and day, but all have a common goal - - use our life experience to serve the home buying and selling consumers.

The real estate industry is a vital component of the economy represented by many wonderful people.

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.

LEESBURG VIRGINIA REAL ESTATE IS A WONDERFUL BLEND OF HISTORY AND CONVENIENT HOMES.

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate — Mon, 02 Nov 2009 16:21:13 -0600

LEESBURG VIRGINIA REAL ESTATE IS A BLEND OF HISTORY AND CONVENIENT RESIDENTIAL HOMES.

Leesburg is one of the oldest towns in Northern Virginia dating back to the mid 1700s when it was the county seat of Loudoun County and still is. Leesburg was a major location for battles in the War of 1812 where vital documents including the Declaration of Independence and others were brought to Leesburg for safekeeping. The spirit of the 1700-1800s is reflected in the town of Leesburg, a wonderful area to tour, shop for antiques or have a delightful lunch. During the Civil War, many homes and shops in Leesburg served as hospitals and military outposts.

LEESBURG LIVING

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Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988, E-mail.

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