First thing, let me be right up front that I have a financial interest in www.IOwnPage1.com . OK, now that's off my chest... let's roll...
One of my many interests is in the area of search engine optimization (SEO). It's a game, and games have always intrigued me. Especially one like credit improvement and Real Estate SEO that have vague ill-defined rules.
So, first for my own business, I set out to understand what I could do to gain control over the search engine results in my adopted hometown of Temecula, CA. A major part of that was ActiveRain. I learned about high value keyword links, mirrored blogs, rss, all that stuff. And it works! Within a week or so of starting here at ActiveRain, my blog was showing up on page 1 for all sorts of search terms; Temecula No Down Home Loans, Temecula Bank Owned Homes, Temecula REO Home Loan, and dozens of other combinations.
The thing was, and I'm sure many of you can relate... I knew a bunch of agents and loan officers who either would not or could not duplicate my success because they could not or would not duplicate my effort, even though I penciled it all out and sent it in my newsletter . Many of them asked me to help them get the kind of results I was having on search engines, and were willing to pay me to do it. I never accepted, because I couldn't figure out how to blog on someone else' behalf, about an unfamiliar real estate market in an unfamiliar town. If anybody has the secret to that please let me know.
Then I discovered video... Not that I'd never seen a video before (and just as an aside, I think it is important to note that the video Take On Me, by A-Ha, is the best video ever!), and I had even madea couple using a neat bit of software from Adobe called VlogIt . If you're interested in making your own video blogs, you definitely should have VlogIt. It only costs $29 (you need a webcam) and you're in business.
But the real discovery, for me at least, was how video gets preferred treatment with the search engines; especially Google. Take a look. If you Google "Jackson Rehab Property", you'll see that several of the top 10 placements on page one are videos. My videos. Hmm... ActiveRain and videos... powerful combination...
So I decided to run a couple of experiments. I made a couple of simple property description videos for Maribeth Wright, a real estate agent in Santee, CA, and a couple of simple loan videos for myself. And I uploaded them all over the place; to 60+ sites. Yahoo Video, Google, Video, Youtube, Revver, Vimeo, Myspace, Facebook, podcast.com, and dozens of others
Now, my blog and website were already active, so that helped, but Maribeth had neither a blog nor a website, so I helped he set one up here at ActiveRain, and since she is listed on her broker's website, I linked the videos to that. Which explains why Rick Barker Realty is now showing up on page one for a number of searches. You're welcome Rick....:)
Now, as much as I was frustrated that I could not offer to help people with the blogging side of things (I can only write what I know, not what someone else knows...), I CAN help others out with videos. It's a knack.
So, with a couple of partners, I started a new website, IOwnPage1.com . Basically I have automated the process of creating short videos (we can also use your existing videos and virtual tours in most cases, optimizing them for streaming, and uploading them to 60+ high value sites (myspace, youtube, revver, etc). The hardest part, frankly, is setting up all the accounts with the 60+ free sites. It's a manual task that resists automation. Then getting you into the swing of our system; either uploading your existing video, or creating what amounts to a narrated slideshow, on the fly. It's quite easy actually. If you'll email us a few pictures, and call our toll free audio hotline, we can match them up and have your video ready to submit to all 60+ sites within 48 hours. Within 48 hours after submission, usually a lot less (under a day), you will be able to see your videos showing up in google on page 1.
Now, you could do this all for yourself. If it doesn't intimidate you, I would encourage you do just that. It's very rewarding. It's not rocket science, and I've already told you most of what you need to know. But just like changing the oil or a muffler on a car, it may not be very cost effective or time effective for you to be filming and producing your videos, optimizing them , and uploading them 60+ times to 60+ separate sites. Add that up and it takes a lot more than $97 at minimum wage to get that done. But because we have the proper tools, we can automate much of the grinding work. Your job, as I mentioned before, is to simply email in a couple of pictures and leave a voicemail We'll take care of the rest.
I will say, IOwnPage1.com 's methodology works best for geographically specific terms (like, say Temecula No Down Home Loans , or Temecula Mortgage ), as opposed to "Mortgage", where you are competing with million dollar ad budgets. We target up to six keyword phrases with each submission. The initial setup process will include the first two videos, plus setting up the 60+ video site accounts. Then, just as with ActiveRain, it is important to keep content fresh. So we have a monthly subscription that includes up to two additional videos each month for $97/ mo.
I am so confident in the success we can help real estate agents achieve in their local market, that my partners and I have agreed to offer this GUARANTEE:
"You and YOUR LISTINGS on Google's Page 1 in YOUR local market. In ONE WEEK or LESS. Guaranteed!" Or your set up fee of $497 will be promptly refunded. No questions asked. There's a couple of short videos giving further details at the site, or you can feel free to contact me direct (click the RingMe button below).
Best Regards and See You Outside the Box!
PS If you are listing bank owned properties, and the bank is ready to start working with investors, touch base with me. I may be able to introduce you to some aggressive investors who buy in your area.
I've been looking at, investigating and talking to a number of companies that purport to specialize in Loan Modification or Mortgage Relief, in other words; re-negotiating a loan that is in default or is in danger of going seriously past due, which of course, leads to a default.
I've been concerned about a couple of things I see happening. First of all, it concerns me that some of these companies (not all, but some) are charging up-front fees that can be very substantial; upwards of $2000 is not uncommon. I'm concerned that there is little or no accountability for this money in terms of performance of services. I'm concerned that federal and state laws on the subject of loan modification or mortgage relief is skewed to make many (again, not all) of these companies not in compliance with the law. Take a look at California's Mortgage Foreclosure Consultant Act at Civil Code 2945.4(a):
"It shall be a violation for a foreclosure consultant to: (a) Claim, demand, charge, collect, or receive any compensation until after the foreclosure consultant has fully performed each and every service the foreclosure consultant contracted to perform or represented that he or she would perform."
Mr. Aviles has thought this process through more so than many (again, not necessarily all) of the other companies I have spoken with. He has in-house attornies to review and supervise every loan modification file. He has in-house underwriters to prepare a perfect and approvable mortgage relief package before it is ever seen by the lender. An MOST of all, American Mortgage Relief protects their customers by having them put the fees into escrow. In other words, if they are unable to perform- read that, GET A LOAN MODIFICATION or MORTGAGE RELIEF WORKOUT, then the client's money is simply returned without ever having been in the custody of American Mortgage Relief. That says integrity to me, and I'm happy to help him promote his business. I have no financial interest in his company or his service. This is a much needed service and I hope it is able to help someone who reads this.
See You Outside the Box!
PS If you are listing bank owned properties, and the bank is ready to start working with investors, touch base with me. I may be able to introduce you to some aggressive investors who buy in your area.
I've gone round and round with a number of people both on and off ActiveRain, about the various approaches to accelerated mortgage payoff. I think people are pretty familiar with the more straightforward approaches like bi-weekly paymnets, or simply making extra payments to principal when funds allow.
The first thing that I will stipulate is that ALL these various approached will result in an accelerated payoff of one's mortgage.
Because the Money Merge Account; aka MMA, is the one being most breathlessly promoted, I will repeat the same three objections I have always had (LOTTA money for a log-in to a website; web based delivery, and MLM sales channel), with two additional ones just for good measure. Without dwelling too long, I made a pretty good case for my first three objections here. I found it interesting, and still do, that most, not all, but most, of the really noisy objections came from those who were not even in this industry and in most cases, posting anonymously. Kudos to one brave soul for at least arguing with me in public .
To my original arguments against this approach, I add this: How's your HELOC? I bet it's been closed by the bank... They are closing HELOC's willy nilly out there on borrowers with low CLTV's and perfect payment history. Without the HELOC, the whole thing flies apart. Wave bye-bye to that $3500...
My other argument against it is that though hit is a good thing to pay off the mortgage, even if your original HELOC stays open, most of your equity will be locked up; not liquid to you in the event you should need liquidity.
Enough negatives.
After looking at the various software products and finding them all lacking, I have looked again and again at the Mortgage Acceleratorproduct that is backed by GMAC Bank.
I have put together a site, EquityRocket, that offers a comprehensive explanation of how this product works. I built an EquityRocket Mortgage Accelerator Excel Spreadsheet that you can download to run your own numbers and see how fast you might be able to pay off your home with your existing cash flow and expenses accounted for.
This product is what I am recommending to family and friends when they inquire about how best to pay off their mortgage early. It addresses my concerns in a number of areas.
The equity that is paid off ealry remains liquid. ALL of it.
There is no confusing software to figure out. Just live your life, pay your bills, and it will manage itself.
GMAC Bank is going out of business any time soon.
We can lend in all 50 states, though the Mortgage Accelerator is not licensed in all states.
PS If you are listing bank owned properties, and the bank is ready to start working with investors, touch base with me. I may be able to introduce you to some aggressive investors who buy in your area.
A lot of people are aware of the CalHFA program, which provides 100% financing for first time home buyers (or those who have not owned for at least three years) for those who can go full doc and have a 620 fico (soo to be bumped to 680). And a lot of people are aware of FHA financing, which can do 97% Purchase financing without regard to FICO score. What a lot of people are not aware of is that there are some "silent second" programs available from CalHFA that can go behind an FHA loan (up to 3%), which then allows you to cover the 3% down payment requirement. Since the FHA loan allows for seller paid closing costs, this allows for true 100% financing at competitive rates on a 30 year fixed with no prepay penalty, all all for nothing out of pocket. At a 580 FICO score.
See You Outside the Box!
PS If you are listing bank owned properties, and the bank is ready to start working with investors, touch base with me. I may be able to introduce you to some aggressive investors who buy in your area.
I know we all waste a little too much time in our lives, but that absolutely takes the cake... Hard not to watch though, isn't it?
PS If you are listing bank owned properties, and the bank is ready to start working with investors, touch base with me. I may be able to introduce you to some aggressive investors who buy in your area.
Normally I have only one or two, so I just leave them in the newsletter. This month's collection was exceptional, so I thought deserved their own special place...
Finally something hopeful to chew on... The economic stimulus plan worked out last week in Washington will provide nearly a year of larger, lower cost loans for people buying or refinancing higher-cost homes. It also allows for larger loan amounts on Reverse Mortgages for seniors trying to put their days of mortgage payments behind them.. The legislation specifies that the size of loans that can be purchased by government-sponsored mortgage buyers Fannie Mae and Freddie Mac will be increased sharply for a year from the current cutoff of $417,000.; and more than doubling the size of loans available under the FHA program, from $362,790 to $729,750.** Within no more than 30 days (I expect it within a week), the specific limits by market areas will be published and available. In the meantime, here are the best estimates I have seen:
H.R. 5140 - Increased Loan Limits
CBSA/MSAD Name
Estimated Median Value based on Exclusive MMG Research and Resources
Adjusted Conforming Limits: 125% of max median price and <= 175% * current conforming limit
Los Angeles-Long Beach-Glendale, CA
$588,400
$729,750
Oakland-Fremont-Hayward, CA
$825,400
$729,750
Oxnard-Thousand Oaks-Ventura, CA
$589,000
$729,750
Salinas, CA
$590,000
$729,750
San Diego-Carlsbad-San Marcos, CA
$589,300
$729,750
San Francisco-San Mateo-Redwood City, CA
$825,400
$729,750
San Jose-Sunnyvale-Santa Clara, CA
$852,500
$729,750
Santa Ana-Anaheim-Irvine, CA
$588,400
$729,750
Santa Cruz-Watsonville, CA
$610,000
$729,750
Napa, CA
$567,500
$709,375
San Luis Obispo-Paso Robles, CA
$559,568
$699,460
Santa Rosa-Petaluma, CA
$498,750
$623,438
Bishop, CA
$480,000
$600,000
Santa Barbara-Santa Maria-Goleta, CA
$470,000
$587,500
Truckee-Grass Valley, CA
$447,000
$558,750
Vallejo-Fairfield, CA
$424,000
$530,000
Stockton, CA
$391,230
$489,038
Riverside-San Bernardino-Ontario, CA
$390,000
$487,500
Modesto, CA
$381,884
$477,355
Sacramento--Arden-Arcade--Roseville, CA
$381,884
$477,355
Ukiah, CA
$381,884
$477,355
Alpine County
$381,884
$477,355
Mono County
$381,884
$477,355
Calaveras County
$381,884
$477,355
Merced, CA
$377,245
$471,557
Amador County
$355,000
$443,750
Phoenix Lake-Cedar Ridge, CA
$350,000
$437,500
Summit County
$345,000
$431,250
Madera, CA
$340,000
$425,000
Yuba City-Marysville, CA
$339,744
$424,680
Redding, CA
$338,900
$423,625
Source: Mortgage Market Guide I see this as an important step in helping the market find a bottom... Not only the limits are going up on conforming and FHA, but as importantly, the Stated programs that are more readily available to Conforming borrowers with excellent credit, will now be available with larger loan sizes, which puts many self employed borrowers back in the game. Higher LTV's and more flexible underwriting guidelines with conforming and FHA will also help provide support to the purchase market, and for those buyer caught in their adjustable loan as it ratchets ever upwards. 97% LTV on Purchases Down Payment Assistance of up to 6% 95% LTV on cash out refinancing No minimum credit scores Liberal credit guidelines No prepayment penalties SFR, Condo's, Town Homes, and Manufactured Seller contributions of up to 6% Non-occupying co-signers Higher income to debt ratios Loans are assumable Don't forget the "5% DECLINING MARKET" hit that has affected nearly every Conventional loan program above 75%. FHA still allows 97% LTV's on purchase transactions and up to 105% when using some Down Payment Assistance Programs. Also, FHA does not have a "credit risk adjustment" based upon credit score such as the one recently implemented on Conventional loan's. Real Estate Agents and Mortgage Professionals may contact our office for updates and FHA loan guidelines. How To Fix a Broken ARM; A Special Home Saver Program for those whose ARM's are adjusting. Look, ideally, everybody would like to be in a 30 yr fixed with amortization, if they could afford the payment. But bottom line is, first and foremost, they need to be able to hang onto the house while they ride this storm out. That means no more negative amortization loans with all the wonderful little surprises that they come with. Here's one approach:
5/1 I/O
7/1 I/O
30/10 I/O
Property value:
$500,000
$500,000
$500,000
Loan amount:
400,000
400,000
400,000
Interest rate
4.00%
4.63%
5.38%
APR
4.20%
4.86%
5.65%
Second mortgage:
1,333.00
1,541.67
1,791.67
Note that with the increase in conforming limits, this approach will be viable for people with formerly Jumbo loans. Call me to discuss! See you outside the box! PS If you are listing bank owned properties, and the bank is ready to start working with investors, touch base with me. I may be able to introduce you to some aggressive investors who buy in your area.Go ahead. Click it...
MORTGAGE NEWS What does Fed rate cut mean for you? The Federal Reserve cut interest rates for the second time in about about a week amid rumblings about a recession. While Wall Street may celebrate the lower rates, what will it mean for the average consumer? CNN personal finance editor Gerri Willis breaks it down. Read the full story at CNN.com
Stocks Surge on Big Fed Rate Cut The FOMC's super-sized half-point easing Tuesday sparked huge gains in equity indexes. Read the full story at BusinessWeek
BUSINESS NEWS Is Yahoo Worth $44.6 billion? On February 1st, Microsoft CEO Steve Ballmer announced that the company initiated a $44.6 billion takeover bid for Yahoo! This is the second time the juggernaut has made a play for the online service. Read the full story at Newsweek A Better Way to Track the Economy A groundbreaking Commerce Deptartment report could lead to new yardsticks for measuring growth. Read the full story at BusinessWeek
Writer's Strike having impact on prime-time As broadcast networks head into the February sweeps period, the prolonged writers strike is starting to be felt in prime-time ratings. Read the full story at BusinessWeek
RECIPE OF THE MONTH Twenty for Twenty Don't like repeated trips to the grocery store? Stock up on these 20 ingredients, and you can make 20 delicious dinners. Read the full recipe at AllRecipes.com TECHNOLOGY New Super-Efficient Micro Chip Could Run on Body Heat A new chip uses so little power, it could enable sensors, communication devices and other gadgets that run on body heat and movement alone. Read the full story at Wired.com
Revolutionary New Jet A new jet engine designed to fly at seven times the speed of sound appears to have been successfully tested. Read the full story at BBC News
WIKIPEDIA ARTICLE OF THE MONTH Asian Giant Hornet The Asian giant hornet (Vespa mandarinia) is the world's largest hornet. Queens may reach a length of 55 mm (2.2 in). Due to it's size, it is known in Japan as Suzume-Bachi or Sparrow-Bee. Read the full story at Wikipedia.com
HUMOR Blind Man in Texas There once was a blind man who decided to visit Texas.
When he arrived on the plane, he felt the seats and said, "Wow, these seats are big!" The person next to him answered, "Everything is big in Texas."
When he finally arrived in Texas, he decided to visit a bar. Upon arriving in the bar, he ordered a beer and got a mug placed between his hands. He exclaimed, "Wow these mugs are big!" The bartender replied, "Everything is big in Texas."
After a couple of beers, the blind man asked the bartender where the bathroom was located. The bartender replied, "Second door to the right." The blind man headed for the bathroom, but accidentally stumbled and skipped the second door. Instead, he entered the third door, which lead to the swimming pool and fell into the pool by accident.
Scared to death, the blind man started shouting, "Don't flush, don't flush!"
My partners and I have been talking up, emailing out, and posting these cute (and profitable) little Jackson, MS rehab properties for a while. I thought I'd post a case study that shows what a value we've really put together.
Here's a property we sold a while back in Jackson (click on image for full screen view):
Note that, all in (acquisition plus rehab costs), this buyer had less than $50k into this property.
I just visited Jackson last week, and went around seeing some of the new properties, as well as checking up on some of our recent sales. I went past the 524 West Hill property to see how it turned out and do a "live report" call-in spot for the radio show. I noticed a house for sale across the street, so I had one of my contacts look up the info for me. Here's the MLS sheet on it (click on image for full screen view):
On a nearly identical house (similar aesthetics, 6 sq. ft. bigger, similar lots), the property across the street is being listed at $80,000. Assuming they accepted $75k, that still means our original estimate of value was a couple of thousand low. So our buyer got a steal with over $16k in equity, positive cash flow, and LESS THAN ZERO DOLLARS OUT OF POCKET!!!
I'm kinda proud of that....
PS If you are listing bank owned properties, and the bank is ready to start working with investors, touch base with me. I may be able to introduce you to some aggressive investors who buy in your area.
Things are tough...We all know it... very few will say it out loud...values are falling and many lenders are cutting back on LTV's in our area...
But some aren't. If you still need that 100% Full Doc Purchase or 95% SISA loan for one of your clients, I can still get it done at a VERY decent rate (~ 6% for a VERY strong credit profile). Even stated Jumbo loans are getting more reasonable (7/1 I/O 70% SISA ~ 6%). I even saw something this week that we all thought we'd never see again; a rate that started with a '4' on a 7 year fixed. Together, we have to think creatively... for instance... An example of a borrower using a reverse mortgage (yep... I do those too...) to get into a new home:
Mr. M. - is a 68 year old who just sold his home and bought another. The transaction looked like this.
SOLD BOUGHT
Sale home - $590,000 Purchase home - $455,000
Existing loan - $206,000 Reverse Loan - $180,000
Net proceeds - $340,000 Cash Required - $275,000 from sale for new purchase \
Mr. M now has no mortgage payment on his new house and $65,000 non-taxable cash available for his use.
See you outside the box!
PS If you are listing bank owned properties, and the bank is ready to start working with investors, touch base with me. I may be able to introduce you to some aggressive investors who buy in your area.
Go ahead. Click it...
MORTGAGE NEWS Fed cuts rates again Fed Chairman Ben Bernanke borrowed a page from Alan Greenspan's crisis playbook when he promised emphatically to cut interest rates further if the weak economy needs the help. Read the full story at Associated Press
CAR NEWS "a 5,000-pound vehicle that gets 60 miles to the gallon and does zero to 60 in five seconds!"... This gives me hope that the future will include large, fast cars...
BUSINESS NEWS Best Buy posts modest sales gain Best Buy on Friday reported a modest increase of 1.5 percent in December sales after continuing declines in sales of MP3 players and projection TVs more than offset sales increases of flat-screen TVs. Read the full story at CNNMoney
Online Marketing making kids obese? A new study highlights ways companies use the Web to promote unhealthy foods to youngsters and asks regulators to step in. Read the full story at BusinessWeek Blu-ray's High-Definition Knockout Warner Bros. opts to back the Blu-ray high-def DVD format in a decision that could drive consumers away from the rival standard, HD DVD Read the full story at BusinessWeek
ENTERTAINMENT Review: The Bucket List Rob Reiner's The Bucket List is another high-quality picture from one of Hollywood's underrated directors. Jack Nicholson plays a businessman who owns a hospital corporation-one that stresses patient turnover-opposite Morgan Freeman as a middle class family man. Read the full story at Box Office Mojo
An Oscar Boost for "There Will Be Blood" With a strong start in the new year, Paul Thomas Anderson's new film may do well at the Academy Awards this year. Read the full story at Entertainment Weekly HEALTH Secrets of the Nation's Top Trainers Ten signature moves from the hottest, most innovative fitness minds (and bodies) in the country. Read the full story at Women's Health
WIKIPEDIA ARTICLE OF THE MONTH Mark Zuckerberg Read about the creator of Facebook and his start to internet stardom! Read the full story at Wikipedia.com
THIS IS JUST SOOOOOO WRONG!!!
With all the stuff going on; lenders going poof, foreclosures exploding, prices in free fall, etc., you would think it would be something really of earth shattering importance that's got me worked into a lather.
All About Building Real Estate Wealth Like You've Always Dreamed of, But Never Believed You Can Afford, with Little or Nothing Down; Even With Less Than Perfect Credit! Guaranteed.
Focus Areas Include: Rapid Equity Building, Credit Improvement, Buying Homes With Little or No Money Down, Investment Property Opportunities for Savvy Investors.
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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