Sanctuary Lending: The Blog

Foreclosures, foreclosures, foreclosures.... sigh.

Sanctuary Lending — Thu, 31 May 2007 09:44:18 -0500

With every article about the real estate market that appears in either my inbox, my TV or my doorstep, my opinion is that our industry is becoming more bi-polar everyday.

Often, on the same webpage, you will find articles with conflicting headlines; one tells us that more homes aren't selling, while the next article tells us how robust the 'mortgage applications' index looks. To the layman, this can only confuse and scare them more.

Yes, more homes are selling than LAST MONTH because we're getting closer to one of our peak seasons (well, used to be anyway) but we're selling less from year-to-year. And the reason mortgage applications are up is because it takes a broker several attempts with different lenders to find a home for a borrower. So in reality, the application number is higher, but probably not the APPLICANTS number. And I don't even want to talk about refis.

But where the market is really getting scary is in foreclosures. I do mostly commercial and institutional loans now so I don't really see much in the way of residential. I do however get a referral every now and again and it's important to me to do my best for business associate because now there are two reputations at stake.

But when I get a foreclosure, I usually do those for free.

I'm on my third one this week. That's how busy I am. I now get more foreclosure referrals than I get junk mail, many of which just cannot be saved. And to be brutally honest, I've told more people more truth than I think they've heard in a long time.

I hear stories about investors parking all night across the street from a property they want just to scare off other investors. I heard one this week about an investor who called a client of mine threatening to take my client to court if they didn't sell her their home. And my new favorite, a client was followed from home, to work, to lunch, to work, back home - we know this because the investor called the client about 20 times that day telling them "I've got the paperwork right here, and I'm in the parking lot. All you have to do is come out and sign."

sigh.

Refis are tough, short sales take too long and I do most of my work with my fax machine and the redial button. I talk to "lawyers" (the ones who 'work with a lawyer') like they're children and I find myself ducking calls from "friendly" investors all day long. And while it may hurt some feelings to read this, many homeowners just aren't savvy enough to know that "No, you can't profit from your own short sale".

I know the industry is tough right now, we're all feeling it. But I see examples everyday of people who are barely surviving it.

Enjoy,

Our livelihood - from the front car of a roller coaster.

Sanctuary Lending — Thu, 05 Apr 2007 21:12:17 -0500

I may be late to the party on this one and if you have already seen this - sorry. :)

But if you're having a bad day, maybe a slow week and you need a different perspective - I think I've got just the trick.

Follow this link.

And make sure you watch the entire video. The last few minutes of the ride are the most telling.

Enjoy,

Behold, the next housing scam.

Sanctuary Lending — Tue, 13 Mar 2007 23:06:59 -0500

http://www.keyrealtyinvestmentgroup.com/index.html

Someone will fall for this, I am sure of it.

I know there have to be others out there like it - but this one is new to me. It's getting some bad press in the mortgage community already but I'm sure it's on someone's screen right now.

Can't you see it....

"Honey, come see this."

"Hmm, do you think we should care about the graphic they stole from what looks like NWTech.com."

"Well,"

"What about the photos, they took this one off Fotosearch.com - they didn't even cover up the watermark. And this image doesn't even have American currency."

"Yeah, but... an extra 50 grand would get us that pool. And we can put the rest towards the kid's college."

"Whatdaya think?"

"Well, they do have a website. And, well, why not?"

"I'm going to go watch American Idol, want me to TIVO it for you?"

Remember ladies and gentlemen, you can't legislate good sense.

Can't say it any plainer than that!

Sanctuary Lending — Thu, 08 Mar 2007 20:10:59 -0600

CEOs by definition are the guy/gal in charge. The one that eats the most snow and gets the best view as a friend of mine was fond of saying.

And given that lofty and admirable position you expect a few things; intelligence, a certain degree of decorum, leadership and vision. But, given the latest scandals over the last few years (Enron, WorldCom, Adelphia - I could add in Home Depot and Country Wide but why poke fun) the last thing you expect is honestly.

Not from CEO Donald J. Tomnitz of DR Horton.

Read on, this from AP via Forbes - and they get all the credit for the reporting and the article.

Associated Press
D.R. Horton CEO: 2007 Is Going to 'Suck'
By JEREMY HERRON 03.07.07, 7:17 PM ET

The chief executive of the nation's largest homebuilder by volume said Wednesday that 2007 would "suck" for his company, providing the clearest signal yet that a recovery in the battered sector is farther off than many thought.

Speaking at an investor conference in New York, D.R. Horton (nyse: DHI - news - people ) CEO Donald J. Tomnitz said he expects to get more pricing power in 2008 but not before home prices continue their decline this year as builders try to sell the glut of houses currently on the market.

"I don't want to be too sophisticated here, but '07 is going to suck, all 12 months of the calendar year," Tomnitz said.

He said excess inventory, built up during a five-year boom cycle that saw land purchases and housing construction reach all-time highs, is the biggest problem facing the sector.

After months of declining prices and home sales, there were signs late last year that the market had reached bottom, prompting many to predict a recovery by midyear. But builders have had to keep curbing construction volumes and offering price discounts.

Tomnitz said Horton is currently building 26,000 houses, down 35 percent from its peak of 40,000, but further cuts are coming.

It is going to be "tough" for the Horton to reach its internal goal of 50,000 closings in 2007, based on the current construction figures, Tomnitz said. That would put 2007 closings below the year-ago level.

The executive said Fort Worth, Texas-based Horton has taken all the charges it could legally take to write down the value of undeveloped land and to forfeit options to buy land, but he did not rule out further hits to the balance sheet.

"We may have more impairments coming. We'll know that on a quarter-to-quarter basis," he said.

The charges are an admission that the company will not be able to develop properties for a profit, but they also free up cash for other purposes.

"The future is not as bright as we would like it to be, but we feel we're in a strong position going forward," the CEO said.

This isn't the first time Tomnitz has offered gloomy predictions for 2007. In January, Horton announced earnings had fallen 64 percent in the last three months of 2006. At the time, Tomnitz said the slowdown had begun in early 2006 and that the market would eventually bottom out this summer.

"We don't see anything on the horizon that would change that opinion," he said then.

Again, the truth hurts - but at least it's truth. :)

SB 185 or "The Ohio hates people law".

Sanctuary Lending — Wed, 28 Feb 2007 06:01:57 -0600

First of all, I'm furious.

Actually, I'm more than that. I'm, well, in the words of Snoopy, I'm *&^$$(.

And a whole lot more. And this post is so that I can vent. I'm going to vent for a few sentences and then I'm going to walk away and then I'm going to vent some more and then walk away.....

Deep breath. In with the good, out with the bad. And my mother always said all that therapy was just money down the drain. In fairness to my therapists, they probably thought so too.

Deep breath. Okay, here we go....

Ohio, in it's infinite legislative wisdom several months back decided that they hate people. I know this because for the last two months to the day, I have been on a daily basis trying to place one loan. Not sixty, one.

Why so long?

Because you're to stupid to know when to quit? Yeah, I'll take a little of that.

Because you suck at this job? Yeah, I'll have some of that too.

Because Ohio hates people? Oh yeah, add a bunch of that!

Senate Bill 185 was designed to right all the wrongs that us evil-doer, money hungry, godless heathens (aka Mortgage Brokers) have brought upon mankind. The invention of the ARM, (that was our creation), 125% financing (yep, I was in on that one myself), and the best one of all - mortgage fraud care of the No Doc loan (sigh, yep those were the good ol' days, I remember them well).

So Ohio decided that they would cure their home financing ills with a well placed, intelligent design-like, brush stroke that was the proverbial mile wide. A bill so well conceived, so well intentioned - how could we not have thought of this before? The public will truly love us for this and our re-election is assured. Grin. Grin. Grin.

Oh, and in the county that my buyer's would be home is in, just raised their taxes 42%. Now, I don't know my geography all that well, but unless there is an ocean next to Ohio that I don't know about or "there's oil in them thar hills", a 42% increase in taxes is well, stupid. Yep, stupid covers it nicely.

So, the earliest results of SB 185? At last count, 16 lenders no longer do 100% financing in Ohio. That isn't to say that a full doc, 700 score, with 10% down, family of four buying their second home in four years can't get a loan. But if you work for tips, your done.

Here's a list of people that can't buy a home is Ohio. As you read this, think of how many people this could total up to. Not just in Ohio, but your state, too:

Barbers, hairstylists, pizza delivery guys, bartenders, waiters, waitresses, cab drivers, dancers, valets, landscapers, paper guys, sky caps, one man shop painters, carpenters, handymen, electricians - all of these people cannot get a stated loan in Ohio.

Recently, Illinois tried a program similar to what seems to have caught the Ohio legislature in a such giddy, bill-writing mood. Their's had an equally cryptic name; HB 4050 or "Chicago creates 'Social Profiling'". Now this program was only in 10 zip codes. I have a good friend of mine who was affected by this program to a small degree, so I know a little something about it. And how did there's turn out? Well it was recently suspended after it was discovered by the same geniuses that enacted the law that surprise! - in those 10 zip codes sales of homes dropped 50%! And that was just the first half of 2006. In comparable areas, they dropped 20%. Lenders bailed on the state and some are (I love this part) actually being sued by people that couldn't get a loan from a lender that the state determined shouldn't loan to these people in the first place.

Read that last sentence again - you're right it doesn't make sense. But this is my latest example of why people should vote.

My client had 5% down. The seller agreed to a Seller Hold Second. We were on the MLS. They buyer has a credit score above 680. Two years employment, two years rent. I have a VOE and a VOR. I have lease agreements with some of their friends that were going to move in with my buyer. But, my buyer is stated - because they make most of their money in cash. They have cash reserves and I can VOD them virtually anytime. Two year trade line with a credit limit of over 10k. DTI is virtually negligible.

But Ohio hates people.

Some may say or even respond that if you can't go Full Doc you shouldn't have a home. If you can't document every penny, why should anyone loan to you. And this is a valid and complex argument that could go either way at any moment. But for my two cents, I leave you with this; Re-read that list of employment and just guess how many people that is. Now add to that number the fact that Bank of America has decided to create a credit card offering for people that are in our country illegally. They don't pay taxes, they work for cash, and they have built an enormous portion of our county - they are also breaking the law, yet we want them to have a credit card "So they can start to build their credit and buy a part of the American dream".

Except in Ohio.

p.s. There are two sides to every story. And I am sure that eventually, now that numerous lenders have removed their 'Stated' programs from Ohio or don't lend there at all, this bill will be amended or even repealed. Which wouldn't be that good of an idea because some of the bill was great for our industry (the cap on points comes to mind). But the road to hell is paved with good-intentions.

Enjoy,

Casa Candy X

Sanctuary Lending — Wed, 17 Jan 2007 23:48:24 -0600

Villa Esperanza, Estate of the Day

Posted Jan 17th 2007 1:04PM by Deidre Woollard
Filed under: Estates

Today's estate introduces us to the Central Florida community of Bella Colina, a luxury enclave with a country club, golf course, equestrian facilities and bike paths all in a lakefront setting. The development has a Tuscan theme and is located 20 minutes from Orlando. This home is Villa Esperanza, one of the most luxurious homes in the community. It has an open floor plan and has six bedrooms. The brand new home has Tuscan-inspired details such as arched entry ways and a barrel-shaped brick-lined ceiling in the dining room. The home has a marble Grand Salon, a study with custom woodworking, and a family room with a revolving bookcase that hides a 50" plasma television. The master bedroom suite has a fireplace, wardrobe rooms and a morning bar. There is not a lot of land but the home does have four garages, a lakefront heated pool and a terrace with a summer kitchen. It is listed at $8.9 million. After the jump, close quarters outside but a world of space indoors.

Continue reading Villa Esperanza, Estate of the Day

As always, I am not a Realtor and am not listing the home, I am only reposting this from another blog I enjoy Luxist.com. And, as before, this entry was created by the very talented, very busy and hopefully very well paid, Deidre Woollard.

Casa Candy IX

Sanctuary Lending — Fri, 12 Jan 2007 23:12:47 -0600

Powder Springs, Estate of the Day

Posted Jan 12th 2007 1:04PM by Deidre Woollard
Filed under: Estates

Homes outside of Atlanta, Georgia often tend toward the traditional even when they are newer builds. This home in Powder Springs is no exception. The eight-bedroom home is a French country-style manor that stays fairly true to the chateau theme (although there is a rec room that isn't exactly a classic). Stained glass, walnut floors, coffered ceilings and built-in bookcases give the home a warm and stately feel. There is a a large main level owner's suite and upper level children's suite.

The property is 34 acres that includes pastures, a riding arena and a 12-stall barn with an apartment. The five-car garage also includes an apartment. It is listed at $10.5 million. After the jump, I don't think I've ever seen a house with quite so many places to sit.

Continue reading Powder Springs, Estate of the Day

The easiest way to improve your credit score and you spend no money. :)

Sanctuary Lending — Fri, 12 Jan 2007 23:04:53 -0600

Everyone knows that your credit score is adversly affected by what you owe, what you own, tradelines, credit history and a million other variables. (Insert joke here....)

But this a simple, free way that you can get a few points that may be critical if you're buying a home.

First off, you have to know that the ideal balance for a credit card is between 20-30% of your limit per card. So if you're balance is $1000.00 ideally your debt on that card is between $200.00 and $300.00.

Well let's say that your balance is closer to $500.00, which is 50% - and you're bying a house soon and need a few points improvement but you don't have enough to pay it down.

Try this, tell the credit card company to raise your limit. Tell them it's for any reason, buying furniture, transferring a balance, new tires whatever they need to hear. Keep in mind you're talking to a person on the other end. A person that probably has credit cards too. They don't know you, don't know anything about you except what their computer screen tells them. So don't be afraid! They can't do anything more than say no, politely. :)

And if you insist eventually they will transfer you to their manager and you can tell them the same thing, 'Raise me or I'm leaving', whatever they need to here.

So, they raise you $500.00, which brings you to a $1500.00 limit, with a $500.00 balance.

Now you're down to 30%. And it only cost you a phone call. :)

(In the interest of full disclosure, this may not work for every credit score. It really depends on how the rest of your credit is weighted against this card. If you have 11 cards and you can only get one raised, the benefit will be minimal. If however, it does work for only one, transfer the balances of some of the other ones to lower their balance.)

Remember, it's your score and no one other than you can improve it.

Enjoy,

Cribcandy? Anyone ever been to this site?

Sanctuary Lending — Wed, 10 Jan 2007 23:50:39 -0600

I've never heard of this site and I just stumbled onto it.

It's called Cribcandy, and this is really something. It somehow has a shopping feel and a Craigslist feel to it at the same time.

Anyway, if anyone knows of a site like this one or better, please let me know.

Enjoy,

Casa Candy VIII

Sanctuary Lending — Wed, 10 Jan 2007 23:43:13 -0600

Hidden Meadows, Estate of the Day

Posted Jan 10th 2007 1:03PM by Deidre Woollard
Filed under: Estates

Hidden Meadows is an absolutely elegant home in South Londonderry, Vermont. The deluxe country estate is on 90 acres surrounded by the Green Mountains. The house has a Georgian feel with plenty of windows to catch the light. On the property there is also a two-bedroom guest house, a club house, pool, ponds, tennis court and a beautiful pool pavilion. Other amenities include a fitness center, steam room and a library. It is listed at $8 million. After the jump, so many outdoor living spaces in a climate with so few chances to enjoy them.

Continue reading Hidden Meadows, Estate of the Day

Ahem, does anyone know anything about this?

Sanctuary Lending — Wed, 10 Jan 2007 19:30:35 -0600

I just typed in Nokia in the search window to see if anyone had any experience with one of their new tablets. Thought I would see if anyone had an honest review before I really looked into one. This is what came back.

Are we now ebay? I know I list some stuff in my blog, but it's for entertainment purposes - I'm not trying to sell you a phone.

I realize the image is poor quality and I'm still trying to figure that part out but here's the link to see for yourself.

Oh well, maybe I can list some of the stuff in my customer's garage. :)

Casa Candy VII

Sanctuary Lending — Tue, 09 Jan 2007 22:41:34 -0600

Lake Creek Canyon, Estate of the Day

Posted Jan 9th 2007 1:01PM by Deidre Woollard
Filed under: Estates

The headline for this estate in Ketchum, Idaho is that it is "not your ordinary mountain home" and they are right. The style of the house is more Californian than the usual log cabin deluxe homes with massive stone fireplaces that we usually see in the warmer climates. The home is located on a private cul-de-sac in Lake Creek Canyon and sits on four acres. The six-bedroom home has large kitchen, massive great room with balconies, guest quarters and an exercise room that looks like it belongs in a gym. It is listed at $7.75 million. After the jump, the House and Garden money shot on the terrace.

Continue reading Lake Creek Canyon, Estate of the Day

The endless trappings of unchecked spending - entry 4

Sanctuary Lending — Tue, 09 Jan 2007 11:57:00 -0600

Heart-Shaped Tub Romances Your Bathroom

Posted Jan 9th 2007 8:04AM by Deidre Woollard
Filed under: Decor

Heart-shaped bathtubs aren't just for the Poconos anymore. You can add a two-person heart-shaped whirlpool bath to your own home. The tub has six jets total including two recessed Rotary Massage Jets for back and torso therapy. It sells for $2,265.90 and has options such as a decorative rim kit, comfort pillow and remote pump option. I would love to see how someone integrates this into their home.

[via Home Improvement Ideas]

My disclaimer: I am only reposting this from another blog I enjoy Luxist.com. And, as before, this entry was created by the very talented, very busy and hopefully very well paid, Deidre Woollard.

Casa Candy VI

Sanctuary Lending — Sat, 06 Jan 2007 20:02:54 -0600

Hunt's Point, Estate of the Day

Posted Jan 6th 2007 1:05PM by Deidre Woollard
Filed under: Estates

Today's estate on Hunt's Point in Washington is a bit of a cottage on steroids. The four-bedroom home designed by Curtis Gelotte and built by Bender Chaffey is on the water and has a dock with space for five boats. The interior includes and English-style wood panelled library with a copper bar, a kitchen with box-beamed ceilings, a formal dining room and a large master suite with a gilded palace of a bathroom. An extensive virtual tour is here. It is listed at $6.95 million. After the jump, maybe they will throw in the boat.

Continue reading Hunt's Point, Estate of the Day

Dig that crazy purple carpet in the dinning room!

The Grinch, the Church and What my Children taught me at dinner

Sanctuary Lending — Fri, 05 Jan 2007 20:33:15 -0600

A few blogs ago, I was lamenting the unnecessary

difficulties I was having with one of the churches that I am refiing. There are some loans that are easy, some are difficult and some are downright impossible.

And that's not because of the details, it's because of the people involved.

But even though I was venting on some of those difficulties in an earlier blog, this evening brought to light some of the other difficult details of church lending.

My family and I were pulling into the parking lot of one of our local restaurants. And throughout the entire trip there, I was detailing in great degree to my ever-patient wife my latest fiery hoop I was going through with this church loan. I was not complaining about the church elders, their demands or any of their supporters. (I have a rule on that - no one hears me scream in the shower and I never complain in public about clients.) Lenders, that's a different story. I will complain about them, but only in close confidence. And unfortunately for my family, they qualify as close. :)

I said, "They're just not listening, it's a simple loan and the church already has the DSR" talking about the lenders to my wife.

Well, I was talking I don't know if she knew that but I was talking nonetheless.

"Sorry," was her reply.

And then something strange happened. Strange, but in memory trigger sorta way strange.

My daughter, who was sitting along with her brother way in the back of our van said, "Why won't these people just loan them the money?"

And her older brother followed this with, "Yeah, they're a church."

And immediatly my brain jumped to "How the Grinch stole Christmas" where Cindy Lou Who catches the Grinch as he's leaving her house with all their gifts and even their tree.

And while my skull was filled with this childhood imagery, it was clearly too busy to watch over my mouth because I blurted out, "Because no one wants to foreclose on God."

Now my children know what I do and they know the word foreclosure so this wasn't totally foreign to them, but again with me still really mentally-occupied with Dr. Suess I continued with, "Guys, think about what a church sells. What do they sell? Nothing. They work on faith and they work for generosity and if people aren't generous enough, well sometimes it just doesn't work out."

By this time, they were exiting the van, my wife already had and I was turning of the ignition. And I was alone long enough to taste the weight of what I had just said. Those last few sentences hung in the air like a fog with no one to break the silence and me with plenty of time to digest the reality of what I had taken on.

Foreclosure is an ugly reality in this business. Foreclosure doesn't care if you're an exotic dancer or a minister. It doesn't care how you vote, it doesn't care if you vote. It doesn't care if you're black, white, male, female, young, old, high school drop out or Mensa Member. Foreclosure just is or it isn't. It's a lot like pregnancy - you either are or you aren't.

And as this rush of reality came over me, and I had only a few moments left before I had to be sitting down to eat with my clan, I felt a little awkward. I had just exposed my two children to a somewhat darker side of life than I had expected. It wasn't something I regretted because they were bound to see something like this again as I do a lot of foreclosures. But this was the first time they had associated it with a church.

I giggled as I said to myself that I had officially broken down the separation of "church and money" for them. I thought it was funny anyway. :)

But it has given me pause to reflect on how we as Mortgage Brokers fight for our clients. How we fight to get exceptions. How we exchange info with one another to find out about what loans have worked before with what lender. How in some ways it's not much different having a client you know is guilty and still trying to get him the best deal that's not even on the table.

As Mortgage Brokers, we don't break the rules, (well, I don't anyway) for our customers. But we sometimes bend them.

Even if only because your son and daughter believe in you.

Enjoy,

Right now, nothing is our fault -or- Must be a slow news day

Sanctuary Lending — Fri, 05 Jan 2007 11:26:12 -0600

I know this may seem to be a worthless post, but right now at 12:22 pm on Friday the 5th, 2007 - there is no bad real estate news being reported on by any of the big websites.

That's a first in a long time.

Now "Mortgage Rates Increase." no "Housing Slips" - nothing. Zip.

And that's a feel good moment. Because according to the major news outlets, right now nothing is our fault.

sigh

I wonder how long it will last? :)

Enjoy,

MLN... they may be number four.

Sanctuary Lending — Fri, 05 Jan 2007 09:58:00 -0600

While this is no real surprise to some of us, if you're a Realtor and have a loan with MLN, you may be getting a phone call.

Evidently, MLN offered a rate a few months ago that they couldn't support - almost too good to be true. And way too many people took them up on it.

Next event was that the secondary market would buy them, but MLN was taking a loss on each one - resulting in an insurmountable deficit and MLN closing their wholesale headquarters.

And laying off approximately 1500 people.

If there is good news to be found in this, the silver lining is that Lehman Brothers in allegedly interested. Actually, that would be closer to a golden lining if it happens.

The tale of the tape on this one is that unless your loan funded before the end of the year, it won't fund at all.

This is number four in the last three months.

But companies get bought and sold all the time and this is nothing new. But that's little consolation to 1500 unemployed people and who knows how many un-funded closings.

If you do have a loan with MLN, or think your broker may be using them, the prudent thing to do would be to call.

In the interest of full disclosure I'm also posting this in the consumer section of AR.

What DisneyWorld has taught me -or- Blogging and the "Big Golf Ball" ride

Sanctuary Lending — Fri, 05 Jan 2007 00:47:50 -0600

Reading the post Top 50 Real Estate Teams Don't Blog by Tony Arko and some other posts about the internet somehow made my brain somehow jump to Epcot.

Particularly the Spaceship Earth ride.

Now you may not know it by that name, most people don't. The accurately call it something like, "The Golf Ball" or "The Big Ball" ride. Which is pretty much what everyone on the planet knows it as but if you've ridden the ride as many times as I have you know it as Spaceship Earth.

For those that have been, have never been or haven't been in a long time... please allow me to describe the experience and how this relates to ActiveRain and blogging.

The geodesic dome is huge. There is a database of facts on Wikipedia here for some technical background. But for me, the stats pale in comparison to the effect of the ride inside the dome.

Once inside the dome (I'm not bringing up the lines issue) you board your 'time machine'. A large two-person cart that goes in a continuous loop that you step into from a revolving 'moving sidewalk'. Blue, plastic, speakers set into the headrests, sliding doors - all this and then Jeremy Irons begins his narrative only inches from your ears.

The 'time machines' go into the darkness, taking you back in time to the dawn of man. When communication was no more than gestures, nodding, the barring of teeth, grunting and a lot of on-the-job training.

All of this is depicted on the walls. Pictures, animatronics people repeating the same actions for every car. Smells of the time, the heat of the desert, the cold of space.

Your 'time machine' rolls along a leisurely pace as you see a form of speech slowly make it's way into the skills of man, and then stories, lessons, plays, art and books. You see the Romans, the Arabs, the Dark Ages and then you move a few hundred years ahead into printing presses. Then we begin the truly exciting journey of the spreading of knowledge via books and news papers on a grand scale. Then radio, then TV.

All the while you're slowly developing a true sense of the progress that has been made in previous century. From having to hand copy each newly delivered speech from the rulers of the time, to brushing ink onto wooden block letters, to radio waves, to pretty black and white then color images on a screen, to - well this is where Mr. Arko's blog comes in - to blogging and beyond.

Once the ride catches up to semi-modern times I always get the sense of anticipation. That if I can just sit still long enough somehow, just around the corner Disney is going to show me the latest Blackberry, the newest headgear/sunglasses/ipod/virtual gaming unit.

Well, sorta. The ride continues into the future of communication, where we might be headed. With the communication becoming easier, broader and even more critical. With languages being broken down electronically and then recomputed to your own language for complete understanding and exchange. You see images and scenes of on-air conversations with children across the world from one another. From one country to another video phones relay medical information during surgeries.

And then we leave the planet. We are shown what communication could be in the not so far off future, with man on different planets. Neon tubes and colorful lights zip about you representing the data streaming out into space. The ultra modem cities with it's technological efficiency presents maybe a goal, an idea, a model of what we could be.

But it all goes back to communication. Every scene you see in the ride further details and displays the importance and the necessity of that one basic skill to explain yourself, to ask questions, to understand.

That's what I got from Mr. Arko's post. Yes, there are business elements that can be gleaned from the entry and valid ones at that. But the one underlying fact of what we all do as bloggers and as people is communicate. Some of us are good at it, some aren't and some (me) are learning to be better everyday. Because at the end of the day, and the ride for that matter, it comes down to the effectiveness of your communications among the others of our species.

One of my new mantras -or- One more thing some borrowers need to hear

Sanctuary Lending — Wed, 03 Jan 2007 23:41:11 -0600

As I read Bryant's Blog entry this evening one of my New Year's Mantras came to me; "It's their money, so it's their rules".

I find myself saying this to some borrowers that seem, well, that seem to think the market isn't treating them fairly.

They seem to think that based on their position at work, or their political affiliation, or even their religious beliefs (I've all of those and more) that somehow their loan should be better.

That "prime" is more of a guideline. It's what we use to determine the quality of beef or eggs. Prime is for "other" people.

sigh

My two most recent examples of this couldn't be more diverse.

One is for a church and the other is well... (I'm posting this late at night on purpose) is not for a church. But suffice to say they both entertain in their own special way.

Both are paid on the generosity of others.

The church's income is tax deductible - the other gets a 1099.

I could go on here but I think you get the point, one is a church and the other isn't.

But here is where the two really become different.

My church (I have two going actually but the one I speak of is further along) seems to not want to cooperate. They have had this loan out for over a year and a half - nothing. I get little help from them with anything, yet they demand everything. (My buddy tells me it's because they're from Chicago. Another buddy that is from Chicago agrees. :)

Low credit? But we're a church!

You haven't paid your mortgage in how long? But we're a church!

You're bankrupt? But we're a church!

I'm gonna need to see some financials... you guessed it - But we're a church!

And they complain about the rate. They want to know why we can't close last month. Why does the lender need to talk to _____? Why can't they just loan us the money on faith? What does DSR mean? What do you mean they need pictures? We never thought it could cost so much....

Before anyone jumps to any conclusions, I do a lot of pro bono work. Most of it in foreclosures and rental disputes. I have a real soft spot for foreclosures and I have two freebies on my desk now. So, I'm not all bad. I even do work for the congregation of the churches as lower rates. So there! :)

My other loan, the person that is not the church, the one that many people might not work for - they have no problem with anything I've said.

Bank statement? Two days.

Can you invest a little to get your credit score up? Just tell me what I need to do.

Employment history? I'll get a letter from my boss tomorrow.

Tax returns, rental history? Got that, what's your fax number?

Done. A $400,000.00 dollar house, their first, 100% financing with re-cert on their credit score and we close in a week.

BAM!

That easy. No complaints about the rate, no issue with the lender's requirements, nothing. The only real problem I had was getting them on the phone, different schedules and all that.

The old phrase "money rules, and he who has the money makes the rules" are words to live by in lending.

Enjoy,

The endless trappings of unchecked spending - Entry 3.

Sanctuary Lending — Wed, 03 Jan 2007 22:11:36 -0600

$620,000 Oud - An Arabic Music Instrument made of black diamond and gold

January 2, 2007 - 6:34 AM : Related Entries - Other Stuff

There are 59,000 UAE millionaires who own 1,500 billion dirham (US $408 billion) and the number of UAE millionaires is growing %5 each year because of the rapid growth of UAE economy according to Emirates Today Arabic newspaper. The moment has come for everyone to take an up-close-and-personal look at the latest luxury lines by the world's most exclusive super brands at Emirates Millionaire Show 2006. Yesterday we featured the most expensive office chair, but today we have some thing for the music aficionados! The Black Arabian Star is a $620,000 Oud (Arabic Music Instrument) made by Ritter Royal Instruments. It is exclusively handcrafted with 103,59ct Black Diamond, one out of six biggest Black Diamonds ever found; round-cut with 3-ray Star on Top in Main Rosette. Rosettes as well as fingerboard inlay are actually made out of pure 24karat gold! The backside of the Oud is covered with Gold Leaf and the nut is made of at least 10000 years old Siberian Mammoth Ivory! Very impressive….but it gets me wondering if all this going to augment the melodic significance of the instrument!

By the way we have something for the slightly lesser souls too. The Paraiba is priced at $420,000….$200,000 lesser than the Black Arabian Star. While all the rest of the features remain same it’s only the black diamond that is replaced by an extremely rare Paraiba-Tourmaline (9,97ct) in Main Rosette. For those who are not well-versed with the world of musical instruments…..Oud is a short-necked, half pear-shaped, plucked lute of the Arab world, the direct ancestor of the European lute. I would like to hear a track though!
Source

The post is credited back to it's source at LuxuryLaunches.com

Casa Candy V

Sanctuary Lending — Wed, 03 Jan 2007 21:02:59 -0600

The Palms at Pembroke, Estate of the Day

Posted Jan 3rd 2007 1:05PM by Deidre Woollard
Filed under: Estates

Little known fact about me, I've always secretly wanted an octagonal house. This explains my affection for the Palms at Pembroke, a new home in Wilmington, North Carolina. The six-bedroom home is located in a golf course community and has amazing water views over the intracoastal waterway. The home's key features include an elevator, geothermal heat pump, fiber optic pool lights and a 12-zone audio system. Other details include a saltwater pool, 400-gallon saltwater aquarium, wine storage and your own private boat slip. It is listed at $8.4 million.

Is the MLS enough? -or- What will advertising a home be like in 2007?

Sanctuary Lending — Wed, 03 Jan 2007 18:07:15 -0600

I originally was reading the excellent post;

A Mouthful of Marbles - Putting localism.com to work for you by Mark Flanders

But it brought to mind questions about the linking of the posts in Localism to outside sites.

Not too long ago there was the fascination with "Link Exchanges". And as the evolution of the net has never really stopped for more than any two quarters of any year since about 2000-01 we no longer "exchange" links directly, but is essence we still do only now it's done by blogging. Sites were weighted (?) by the quality of links and now it seems to be the impact of bloggers. Case in point, Google the words "utter failure" - that will show you the power of bloggers.

(I don't have an opinion on what is best, or what works best or even better. I just want to work whatever system to my advantage; I don't hate the game, I play the game. Now that my neutrality has been established I can move onto my questions... :)

Considering the "weight" from the "quality" of link (which has evolved into the blogs) my question is this;

Given the semi-guarded nature of the MLS, how much weight will be given to an entry (listing) when it's places on Localism, then Trulia, then Craigslist, then a FSBO site, then Zillow - where does the MLS come into play? Or does it even really matter.

I guess that's my big question; once the property is on MLS, is that enough anymore? Can you get the MLS number (officially) and then post the home in Localism and (given the relatively slow market we're in) eventually it will make its way to the other aggregating sites - is that going to be enough for the homeowner of the future?

Casa Candy IV

Sanctuary Lending — Wed, 03 Jan 2007 11:39:33 -0600

Selby Lane, Estate of the Day

Posted Jan 1st 2007 1:07PM by Deidre Woollard
Filed under: Estates

Atherton, California is one of those towns where finding a monster estate is a bit like shooting fish in a barrel. This home is fairly traditional on the exterior with a chateau-like facade but with a very modern feel on the outside. The seven-bedroom home has a massive living room, recreation room, and a home theater which is surrounded by temperature-controlled custom-racked wine storage that houses up to 2,000 bottles. The outdoor space includes a large swimming pool, pergolas and a courtyard terrace with pillared arcades that includes a gym and massage salon with its own sauna and mud bath. Everything in this home exudes a sense of thoughtful planning and unique masterful detail. It may not be to your taste but you have to admit that it is extraordinary. it is listed at $11 million. After the jump, a kitchen I could live in.

Continue reading Selby Lane, Estate of the Day

Why do I always get the same fruit?

Sanctuary Lending — Tue, 02 Jan 2007 18:02:05 -0600

I know why we have the fruit filling at the bottom of our comments. I understand they need for the security and I understand the pop-up box that qualifies as an accepted disclaimer, a CYA sorta thinking.

All of this makes sense.

But am I the only one that gets Persimmon?

Is it a level thing? Once you reach so many points you get Persimmon. And then you move up a level and you get Grape. Or Banana. Or, Strawberry.

Anyway, I've been wanting to ask these questions for the longest time;

Does it seem like you're always getting the same fruit?

Does each branch of the real estate industry get their own fruit?

And why fruit? Why not... vegetables? You know, a Bob and Larry sorta thing. :)

Blogging = a laptop? -or- Blogging for Dollars?

Sanctuary Lending — Mon, 01 Jan 2007 22:42:34 -0600

Full monty on the facts here; I'm new to blogging. Only been at it for about four months. So it would be fair to say that I'm too stupid to understand the blogging system fully. And it would not be incorrect to assume that I'm too new (stupid won't hurt my feelings either) to know how to cheat the system.

So imagine my surprise when I read in our local newspaper today about being paid to blog. For a company. You test the product and then write a review. A positive one. One that says all the things said company wants to hear you say (write).

Hmm.

Now I was a journalist in high school, college and the Marine Corps. And I didn't uncover Watergate but, uh, that seems kinda - grey. Being paid to be a journalist is fine. Being paid to be an editor is fine. But being paid to review a product and write about the product with a paycheck in mind is... is not fine.

I'm providing a link to an article that was in the Orlando Sentinal today here. In it you will see about a company here in Orlando that pays people to blog. Okay, fair enough (and since I'm new to this I'm a little envious). But then I read this on another blog. And now it's not so "fair enough".

So I do a little research and sure enough, the company mentioned in the Sentinel PayPerPost is becoming - grey. And I don't mean in the distinguished kind of grey. They even drew the ire of the FTC, not something anyone wants on their resume'. There is a write-up about their less than ethical activity here.

I guess I've lost my blogging innocence.