I am re-posting this to see f anyone still feels this idea is any less viable than the current schemes that have provided banks with countless, and unaccounted for, millions.

It is easy to complain about the issue. We all hear it blasted across all lines of media and....in the workplace. Complaining about it, without the offer of a potential solution, no matter how far-fetched, just would not seem right so here is my offering :

Wipe the slate clean and start over.  The "bail out" schemes on the table  offer very little, if anything at all, to those who need it most. And, only a temporary band aid to hemorrhaging financial institutions and investors. Legislators have provided promises to "fix" the problem but are offering little in the way of an economically viable solution.

Forgive every mortgage, on a primary residence, of less than.....say $300,000.00 AND, let them keep their home.

• Each household would be responsible for income tax on the forgiven amount with the ability to repay the tax obligation over 5-10 years.
• Homeowners would be responsible for the property taxes and, if not paid when due (Barring extenuating circumstances) ownership could revert back to the original lender.
• Only primary homes would qualify.
• Homeowners must remain in their homes for a period of 5+ years (No rentals).
• When sold, a percentage of the proceeds X% (after time limitation) would go to ???
• Those applying for program must currently reside in their home.

Viable?

Think of the economic stimulus this could truly provide.

• Homeowners would be able to complete home improvements putting contractors, construction workers and skilled laborers back to work.,
• The car industry would have an immediate boost allowing auto manufacturers the ability to increase production putting thousands back to work and increase spending on "green" fuel alternatives.
• disposable income, consumer spending could reach an all time high putting money in the pockets of everyone.  
• Unemployment could drop to an all time low and confidence levels could rise dramatically.
• Consumer saving levels could rise and investment firms could recapture some of the losses they are sure to take....at the expense of all of us.

Possible? 

Probable?

The alternative is to continue throwing BILLIONS of dollars at financial institutions....OUR DOLLARS. Money that certainly wont go to assisting those that are truly in need. Regardless of what is being promised. Is the current path working? It may be time to try something new before it is too late.

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Christopher Walker - Broker and Realtor with Mission Grove Realty is a proud member of the Active Rain real estate network.

For all of you that are active on the REO side of things, I though I would pass some information on to you and, express my appreciation to the folks at TAZA REO.....A special thanks to Darcy Duffin!

I have spent the past few months researching tools like REO Maestro, REO Professor and other tools needed to grow our REO business. One item missing has been an easy to use system for management of tasks and procedures relating to the listing side of bank owned properties.

Most of us are using a combination of Excel, Outlook and other software applications to track the process from BPO to close.  We do the same and, quite frankly, takes a ton of time and a bit of a learning curve to train a new agent, assistant or transaction coordinator. 

The TAZA system has streamlined our process and simplified the daily aspects of REO management. Their system is easy to implement (They help with everything you need to launch in a courteous and efficient manner), easy to use, affordable and fully customizable. You can communicate with vendors, asset managers and team members effortlessly and professionally. I can mot say enough here to due their system justice so, if you are considering an online solution to your REO tasking and management, contact Darcy for a demo. It will be well worth your time!

I do not typically take the time to recommend outside services but, this is one company that I will make the exception for......without hesitation or reservation. THANK YOU TAZA REO!!!!

You can reach Darcy Duffin at (858)248-8204 for more information. You will be glad you did!

ActiveRain is a social network of real estate agents, Realtors and mortgage brokers providing valuable information about the industry, themselves and the communities they serve. Mission Grove Realty is a proud member of the Active Rain network.
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Christopher Walker
Mission Grove Realty
Riverside County, CA

A Realtor posed a question about the effects of using a different electronic lock box than surrounding Boards. A great question is this market and something all of us must consider when making the switch:

We saw the effects of this when our board switched to electronic boxes a few years ago. We are a small community that is completely surrounded by larger ones in all directions. Our electronic boxes are not the same as any surrounding community yet, all surrounding communities share the same.

Our board decided on the change for various reasons yet, in my opinion, the change was made to effectively "shut out" "out of area" agents in an attempt to "protect" local agents. The biggest problem is that more than 80% of those moving to our community at the time were not from our area and had their trusted agent of choice in tow. Did this help our market? Quite the contrary in my opinion. Many homes were sold by agents that included a second lock box.....a combo box just for out of town agents. Choosing a local agent is important but, when representing a seller, my main concern is selling their home regardless of where the buyers agent comes from. Accessibility, as we all know, is an issue. If a home can not be shown....it can not be sold. Electronic lock box, combo box or???? Will it really stop the criminal from entering a home?

Look at REO listings. The respective lenders require combination boxes for easy accessibility. This is for many reasons including easy access for contractors but, there are any agents coming to our market to sell REO properties. Would the bank, or any self respecting agent, want to stop them? Does it truly stop, or hinder, a thief or vandal from doing what they are going to do anyway? Nope. We have had REO properties with missing kitchens, appliances and vandalism. One thing in common with them all is that the lock box was not used to gain entry. They broke a window, a door or picked a lock and in one case, removed the front door altogether. Lockbox still intact and unopened. Issues that will not be solved by an electronic lock box or other method.

Lockboxes are great for one thing. Hindering access from agents out of the area who do not have a particular boards electronic key. Do I want to stop any agent that may have a buyer from showing a property? Would my seller if they knew all of the facts? Buyers are gold and I would not ever think that I will be able to capture the market by hindering accessibility to an "out of town" agent.

One great aspect of electronic boxes is that I can get showing data sent to my cell phone. I know when an agent was there and, who they were. I could then call them and grill them about why I don't have an offer (not the best usage of the system). I can also request that feedback be entered at the time of opening when the agent is using their PDA to access. I like that part, a great tool for sure. One that is used by less than 1% of agents.

I believe that we should all consider having state wide electronic lockboxes. Accessible by all subscribing members regardless of where they are. It would help to foster better relationships between boards, would be of great benefit to our clients (This is why we are here) and add value to our services as REALTORS and real estate professionals.

ActiveRain is a social network of real estate agents, Realtors and mortgage brokers providing valuable information about the industry, themselves and the communities they serve. Mission Grove Realty is a proud member of the Active Rain network.
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Christopher Walker
Mission Grove Realty
Riverside County, CA

Are you using the Trademark "Realtor" as part of your web marketing? This may be the one post you dont want to miss.

Most of us understand the power of a domain name in order to drive traffic but, did you know that is could also drive a potential lawsuit?

The days of "parking" domain names with a brand attached to them in hopes of selling it to the real owner later are all but gone. You can not simply park "microsoftsoftware.com" in hopes of selling it back to Microsoft for big profits. Although nothing prohibits you form registering a domain that contains a trademarked name or the name of a company or entity that you do not own, you may subject yourself to a lawsuit and thousands of dollars in attorneys fees.

For Realtors, using the Realtor trademark improperly within a domain name, blog, site title or print publication will eventually land you in some pretty deep trouble. At the very least, you will end up handing your site over...for free. A site that you may have spent your money and months or even years of your time developing and promoting.

As Realtors, we are given permission to use the Realtor trademark within their terms of use.

How can you use the trademark, Realtor?

• JohnSimthRealtor.com
• JohnandBettySmithRealtors.com
• YourBrokernamerealtors.com

With VERY few exceptions...this is about the extent of acceptable use of "Realtor" within a domain name.

I see many agents, both old and new, that get sucked in to purchasing a domain name containing the Realtor trademark thinking that they will gain advantage over other Realtors in an area. (Precisely why NAR and it's members protect the use of the trademark "Realtor") In any case, it would be very wise, if you are using the Realtor trademark inappropriately, to cease doing so before you are ordered to do so.

What is unacceptable use and in violation of the Trademark?

• YourtownRealtor.com
• YourcityRealtor.com
• ThebestRealtor.com
• Yourcitysbestrealtor.com
• toprealtor.com
• bloggingrealtor.com

Just about ANY usage that does not ONLY contain your proper name, your brokerage's proper name and then the trademark "Realtor" would be a violation and a costly mistake.

Improper use is not something to be taken lightly and is a conscious choice. Waiting for someone to catch on and do something about it would not be a wise choice. If you are using "Realtor" within your website, now is the time to make certain that you are also using the trademark properly there too.

Some examples of proper trademark usage in print or web content would be:

• Jane Smith, Realtor
• Your Proper Brokerage Name, Realtors
• Jane and John Compliant, Realtors

Unacceptable trademark usage looks like this:

• Your Town Realtors
• John, the Realtor Guy
• Jane, the super fantastic Realtor
• The top producing Realtor

I hope that you get the picture. Improper usage is monitored by the legal staff at the National Association of Realtors AND it's members. It takes only 1 (ONE) person to report improper use of the trademark "Realtor".

Are you encouraging a potential lawsuit?  Are you and your Broker prepared to fight the National Association of Realtors? Do you want to? Your competition may just get you there sooner than you think.

Visit the NAR Legal Center for complete information on the use of the Realtor trademark before it's too late. Like cut and paste Blogging....it is only a matter of time before that Monkey on your back...BITES!

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Christopher Walker - REO Broker and Realtor with Mission Grove Realty is a proud member of the Active Rain real estate network.