Clintonville and beyond blog!!

some short lenders ARE getting it!

Joe Jackson (Keller Williams Capital Partners) — Sun, 08 Nov 2009 08:42:24 -0600

I certainly hope the lenders are getting the short sale process!

Via elgin walker (keller williams vip properties):

Okay can you believe it? Some lenders are FINALLY getting it! It is so muc more cost effective and such a better business decision to allow people to short sale (if its legit of course) versus going all the way through the foreclosure process! I had a lender tell my homeowner they could not or would not modify their loan, but they would immediately stop any foreclosure proceedings and cooperate with a short sale if they followed these simple steps:

1) List with a realtor within 72 hours

2) cooperate with property being shown and move out in timely manner

3) maintain the property (landscaping, etc...) until close of escrow

4) allow lender to do an independent inspection (BPO) before and just prior to closing.

If the homeowner follows instruction the lender is giving the SELLER $5,000 at the close of escrow! Upon contacting the lender I was told they WILL PAY A 7% real estate commission and will get me an answer on the offer within 10 workin days of submission.

The only items needed for submission from me is Listing agreement, HUD 1, Purchase agreement, Authorization form. All needed from the homeowner current pay stubs, current bank statements, hardship letter. CAN YOU BELIEVE IT?

This will definetly help us get this market corrected for both buyes and sellers if lenders get on board like this. Lets hope others follow along.

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CAN ANYONE HELP ME FIND THE NAR REPORT THAT STATES THE AVERAGE HOME SALE GENERATED $60,000 OF ECONOMIC ACTIVITY?

Joe Jackson (Keller Williams Capital Partners) — Sun, 08 Nov 2009 08:38:46 -0600

I heard the president of a major real estate company mention this amount at Star Power this July. I have also heard report s from NAR similar to this, but I can find NO back up data. I think a link to a correct source would be great for marketing!

Anyone have a good source for this information?

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First Time Home Buyer Credit EXTENDED....and EXPANDED! | Real Estate Training

Joe Jackson (Keller Williams Capital Partners) — Fri, 06 Nov 2009 22:23:28 -0600

This is one of the best AR blogs on the extended tax credit. Thanks Tim and Julie!!

Via Tim and Julie Harris (Harris Real Estate University):

Here it is....the news we have all been waiting to hear.... This is reason to celebrate....the 'first time home buyer' $8000 tax credit has been extended...and....you will love this....it now includes.. MOVE UP BUYERS. Of course, there are many rule...limitations and other sticking points that you need to be aware of. But, bottom line...they have extended the credit.

Watch the CNBC Video NOW

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Social Media. How to. What to. When to. Who to.

Joe Jackson (Keller Williams Capital Partners) — Fri, 06 Nov 2009 22:14:24 -0600

This sure may my eyes and ears open up!Take time to read this great post!

Via Bryant Tutas-Tutas Towne Realty, Inc:

Social Media. How to. What to. When to. Who to.

Have you ever wondered how many Social media experts there are out there? If you do a Google search for "Social Media Experts" you get 80,000,000 results. Holy crap Batman!!

Now I'm sure this figure is waaaay off so let's say there are a million "Social Media Experts". A million people telling us.......

How to interact with others online.

What to write/post/tweet/update about.

When to write/interact/tweet.

Who to befriend, become a fan of, linkin with.

If Social Media is about interacting with each other then shouldn't we know this stuff already? Aren't we already social? Don't we interact every day?

Why do I need time to "find my voice"?

If I have to follow guidelines and advice on How, What, When and Who then wouldn't that mean I'm not being myself? Shouldn't we have learned this stuff when we were children?

Here's my advice. Be yourself. Good, bad or indifferent. Be yourself. Quit trying to fake it.

I can tell a fake from a mile away. Can you?

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

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Fed To Keep Interest Rates Low . . . for the Time Being!

Joe Jackson (Keller Williams Capital Partners) — Fri, 06 Nov 2009 22:10:13 -0600

This is an informative post by Dean with good financial data

Via Dean Moss - Dean's Team Chicago Real Estate Team (Dean's Team - Keller Williams Lincoln Square Chicago):

The U.S. Economy is improving, despite a 26-year high in the U.S Unemployment Rate. Interest Rates are low - less than 5% for some borrowers. President Obama today extended the popular First Time Homebuyers Creditwell into 2010, and extended to program to include many existing homebuyers as well.

But inflation is low. The Real Estate Market is still sluggish, here in Chicago, and across the U.S. And the Fed, it seems, is not planning to upset the apple cart by raising rates at this time, as reported in the Wall Street Journal yesterday by reporter Jon Hilsenrath.

The reason the Fed would eventually increase their key Federal Funds Rate - the rate at which banks lend to each other overnight - would be to curb inflation. However, at this point, inflation has not taken a foothold, despite an economic recovery in some sectors.

Currently, the Fed Funds Rate is close to zero, and many mortgage interest rates tied to it - especially rates on Adjustable Rate Mortgages and Home Equity Lines of Credit - have seen significant declines over the past year.

Alternatively, it is possible that keeping interest rates so low for an extended period, coupled with a heavy pumping of Federal Funds into the U.S. Financial System, could eventually create inflationary pressure in and of itself.

At last week's meeting of the Federal Reserve Board, the Fed elected to purchase $175 Billion in Corporate Debt issued by U.S. Mortgage Investors and Guarantors Fannie Mae and Freddie Mac. Their original plan was to buy $200 Billion of such debt.

To date, the Fed has completed its early 2009 plan to purchase $300 Billion of securities from the U.S. Treasury. It plans to complete purchase of roughly $1.25 Trillion in Mortgage-Backed Securities by next March. These moves are designed to put more money in the U.S. Financial System, and encourage lending by big banks.

Is the plan achieving the Fed's desired outcome. Some experts feel - not yet!

But low interest rates for mortgage loans, despite what seems to be ever-tightening standards for home financing - have helped spur home purchases by qualified borrowers, although not to the extent those in the real estate industry would like to see.

See our post today via BlogChicagoHomes.com.

DEAN & DEAN'S TEAM CHICAGO

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CDPE

Joe Jackson (Keller Williams Capital Partners) — Fri, 06 Nov 2009 17:09:19 -0600

Well worth your time to go the web site www.CPDE.com. Lots of great resources there even if you are not a member. It can help you find a short sale expert for out going referrals.

This class had great content and marketing ideas and was worth every penny!

How many on AR have taken this class?

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Finished my CPDE class November 2009! Tony was a great instructor!

Joe Jackson (Keller Williams Capital Partners) — Fri, 06 Nov 2009 17:05:25 -0600

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I AM ATTENDING THE CDPE( CERTIFIED DISTRESSED PROPERY EXPERT) CLASS TODAY!

Joe Jackson (Keller Williams Capital Partners) — Thu, 05 Nov 2009 05:34:57 -0600

I have dabbled in short sales and have had some successes and some nightmares. Time to "D" up and get real, as I can not continue to ignore 30% of the market.

Lot's of good info in this class, getting ready for day 2. I suggest you visit www.cpde.com and check it out.

Have you taken this class, and if so, what is your opinion?

Are you doing short sales and are finding challenges? Let's share some information to help move this process along for all of us!

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New Listing, 725 Melrose Ave 3 Bedroom 1 Bath $57,000

Joe Jackson (Keller Williams Capital Partners) — Wed, 04 Nov 2009 12:06:57 -0600

Clean, ready to move in home - new kitchen and bath, newer windows. This home has been freshly painted inside & has new carpet in the upper level. ABC Home Warranty in place. New ceiling fans and some new interior doors. Easy to see, quick possession. Near Weber Rd, freeway and Como Elementary School.

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6.1 Percent Rise in Pending Home Sales

Joe Jackson (Keller Williams Capital Partners) — Wed, 04 Nov 2009 10:11:17 -0600

In September, pending home sales have risen. The housing market has been rebounding from the worst downturn in decades. The volume of signed contracts to buy previously occupied homes rose for the eighth straight month in September. Buyers scrambled to take advantage of the $8000 tax credit for first-time owners which expires at the end of November. An aggressive federal intervention to lower mortgage rates has brought more buyers into the market..

Pending sales stats:

West ↑ 10%

Midwest ↑ 8%

South ↑ 5%

Northeast ↓ 2%

Congress is currentyl moving to extend the credit to buyers who sign a sales agreement by April 30 of 2010. Lawmakers also want to add a $6,500 credit for buyers moving into other homes as long as they have been living in their current residence at least 5 years.

With foreclosures still on the rise, an extended and expanded tax credit would help absorb this incoming inventory.

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1464 Cooperriders Road NW, 63.900 Acres $640,000 Listed by Jeanie Hetzler of the Jackson Team

Joe Jackson (Keller Williams Capital Partners) — Tue, 03 Nov 2009 13:59:00 -0600

63+ acres of pasture, fields,woods, ravines & 4 ponds. Post & beam barn including stalls, utility area, loft & living quarters. Full bath, laundry and kitchen makes great permanent residence, weekend retreat or hunting lodge. Septic & well will service additional home if needed.

Listed by Jeanie Hetzler of the Jackson Team

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1478 Cooperriders Rd NW, 2 Bedrooms 2 Baths $180,000 New Listing By Jeanie Hetzler of the Jackson Team

Joe Jackson (Keller Williams Capital Partners) — Tue, 03 Nov 2009 13:44:46 -0600

Renovated brick farm home with large private screened in porch. Large eat-in kitchen with built-in cabinets. Living room with woodburning fireplace. Den off living room that makes a nice library with cabinetry for storage and beautiful woodwork. Ceiling fans throughout the home. Convenient 2nd floor laundry. Listed by Jeanie Hetzler of the Jackson Team

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278 S Monroe Ave, 3 Bedroom 1.5 Baths Sold for $20,000

Joe Jackson (Keller Williams Capital Partners) — Tue, 03 Nov 2009 11:19:25 -0600

Sold to settle an estate. Sold As - Is, where is. Easy to show! Great brick renovation project in Olde Town East. Exterior, Brick and Vinyl, Dining Room, Eat Space/Kitchen, Living Room, Forced Air, Gas, Fenced in Yard, One Off Street and One On Street Parking. Garage not accessible, in poor condition. Sold by Joe Jackson of the Jackson Team.

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Veterans Day Parade, Friday, Nov. 6, 2009

Joe Jackson (Keller Williams Capital Partners) — Tue, 03 Nov 2009 09:34:18 -0600

Veterans Day Parade, Friday, Nov. 6, 2009

The Statehouse canons will be fired on the West Plaza of the Ohio Statehouse to begin the parade in honor of Ohio's veterans. This U.S. holiday stretches back to the end of World War I and commemorates the nation's thousands of combat veterans who fought in the service of their country.

There are 1.8 million female veterans as of 2008. There are 9.2 million veterans 65 and older in 2008. At the other end of the age spectrum, 1.9 million were younger than 35. As of 2008, there are 50,000 living veterans who served during both the Vietnam and Gulf War eras. Other living veterans in 2008 who served during two or more wars:

- 92,000 served during three periods: World War II, the Korean War and the Vietnam War.

- Living veterans in 2008 who served during two wars:
- 740,000 served during both Gulf War eras.
- 245,000 served during both the Korean War and the Vietnam Era.
- 182,000 served during both World War II and the Korean War.

There were 5.5 million veterans with a disability in 2008.

A pre-parade ceremony at City Hall, 90 W. Broad St., will begin at 10:30 a.m. and feature a speech by Command Sgt. Maj. Albert Whatmough of the Ohio National Guard.

A cannon on the Statehouse lawn is scheduled to be fired at 11:30 a.m., 11:45 a.m. and noon. Re-enactors from the 1st Ohio Statehouse Battery will be on hand to discuss the historic 1864 cannons.

The parade will begin at noon on Friday at Nationwide Boulevard and N. High Street. It will head south on High Street, west on W. Broad Street and end at Veterans Memorial.

At 3 p.m., Veterans Memorial will be the site of the induction ceremony for new members of the Ohio Veterans Hall of Fame.

The Columbus-based Lima Company, 3rd Battalion, 25th Marines will collect toys for the Marine Toys for Tots Foundation along the parade route on Friday.

The Marines want new, unwrapped toys for needy children, especially children older than 12. The Marines distributed 46,000 toys to about 18,000 families in central Ohio last year.

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I HAVE BEEN ON HOLD 14 MINS. FOR THE LOSS MITIGATION DEPARTMENT OF BANK OF AMERICA

Joe Jackson (Keller Williams Capital Partners) — Mon, 02 Nov 2009 08:10:20 -0600

So I decided to blog about it. Does anyone have a phone OR fax number for B or A loss mitiation or for that metter, ANY major lender? We could share information on AR and cut down the wait time.

I'll blog B of A's numbers once they pick up!

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Annual Pumpkin Give-A-Way A Big Success

Joe Jackson (Keller Williams Capital Partners) — Thu, 29 Oct 2009 08:14:45 -0500

Sunday, October 18^th The Jackson Team with Keller Williams Capital Partners held their 10^th Annual Pumpkin Give-A-Way. Cash donations and boxes of food were donated to Neighborhood Services. Neighborhood Services mission is to provide food and emergency assistance for needy neighbors in the Ohio State University Area. They serve any family in need of food, clothing and other material assistance.

Volunteers helped in distributing free pumpkins to anyone who came with a cash or food donation. From the very young to the young at heart a good time was had by all.

Donations totaled $275 and 10 boxes of food.

Special thanks to all the volunteers, everyone who participated and the sponsors.

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SENATE HAS PLAN TO EXTEND FIRST TIME BUYER TAX CREDIT

Joe Jackson (Keller Williams Capital Partners) — Thu, 29 Oct 2009 06:20:10 -0500

Senators in both parties are hoping to add the first time home buyer credit to a bill that would give people running out of unemployment benefits up to 20 more weeks of federal aid. The Senate may vote on the overall bill as early as 10//29/2009.

Also in this bill is a provision that will offer a $6,500 tax credit for repeat buyers who have owned their home for at least five years.

These credits will be available for buyers who sign sales agreements by the end of April 2010 and close by the end of June

Stay tuned , we will see how this one works out!

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245 N Hamilton Ave, 3 Bedroom 2 Bath Sold for $187,500 Sold by Sue Hanson of the Jackson Team

Joe Jackson (Keller Williams Capital Partners) — Wed, 28 Oct 2009 09:36:33 -0500

Beautiful Cape Cod Home in Olde Westerville offering updated kitchen with new Stainless Steel Appliances, counter tops, tile floor and freshly painted cabinets with a beautiful view of the well kept gardens. Fresh paint throughout. Finished Lower Level with an amazing buckeye bar, full bath and a media room adding 375 SqFt. The garden surrounds a large private lot. Sold by Sue Hanson of the Jackson Team.

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146-148 Clinton Heights Ave, Two 3 Bedroom Duplex Sold for $230,000

Joe Jackson (Keller Williams Capital Partners) — Wed, 28 Oct 2009 09:16:50 -0500

All brick 2 unit duplex. The owner's side 146 has updated furnace, AC and Bath. The 148 side has updated Baths & kitchen. Each side has 3 bedrooms, 1.5 Baths. 146 side has a 2 car garage and walkup 3rd floor. Heating is Forced Air Gas and Radiant heat. Sold for $230,000 by Joe Jackson of the Jackson Team.

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HAVE YOUR READ " THE DIP" BY SETH GODIN?

Joe Jackson (Keller Williams Capital Partners) — Wed, 28 Oct 2009 07:04:11 -0500

It's an easy read and something to keep by your desk to review

One page deals with salespeople who quit. A study found that the typical sales person give up after the fifth contact with prospect. After 5 times, they figure they are wasting their ands the prospect's time , and quit.

Of course, the study reports that 80 percent of these customers buy on the 7th attempt to close the sale. If only the sales person had stuck it out!

Make that 6th and 7th call TODAY!

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ANOTHER REFERRAL FROM ACTIVE RAIN!

Joe Jackson (Keller Williams Capital Partners) — Tue, 27 Oct 2009 13:01:15 -0500

I got a call from a Realtor in West Virginia asking me if I could sell in Perry county.

That's is about 50 miles away, but discussed it with my team. One of my Realtor/partners knows Perry county and is looking at the home and land and will list it for sale1

Hooray for Active Rain!

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Real Estate Coaching | First Time Home Buyer Credit | Realtor Coaching

Joe Jackson (Keller Williams Capital Partners) — Tue, 27 Oct 2009 06:54:55 -0500

Another great blog by Tim and Julie, worth watching!

Via Tim and Julie Harris (Harris Real Estate University):

Will the first time home buyer credit be renewed…or even better…extended?

THAT is the question…..

As all of you know…the ‘first time home buyer’s’ credit was a huge boost to housing.

We can argue the long term benefits or detriments of these sorts of government handouts later…..we have heard from HREU Coaching Student from all over the US how crucial a continuation of this program is for any sort of meaningful long term housing recovery. At this point everyone knows that the economy goes where housing flows. Homes sell…fewer foreclosures….eventual leveling off of home values…and then a return to a stable market.

Here’s the tough part, there is no guarantee that there will be an extension of this program. We reported on this blog yesterday that there may be movement away from this program towards others by the Obama Administration.

Here’s a new video from CNBC Rock-Star Diana Olick. If you have yet to discover Diana…check her out. No question that she is the best reporter about all things housing. She cuts through the fluff and gives you the bottom line:

WATCH THE VIDEO AND READ THE ENTIRE ARTICLE NOW.

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2010 What What??????

Joe Jackson (Keller Williams Capital Partners) — Tue, 27 Oct 2009 06:52:46 -0500

This is a good blog and it's time for all to get ready for more short sales

Via elgin walker (keller williams vip properties):

2010 is going to be interesting. There are plenty of properties already foreclosed upon not coming to the market for various reasons, but they have to come. There are plenty of people attempting Loan modifications that should be able to get it done, but are not, and some that really never had chance, but are trying will come to market, and for those who I speak with on the inside, short sales WILL become the dominant market in sales before 2010 ends and probably into 2011 (in some areas).

That is an interesting situation. It will be interesting to see how the banks "suggest" sellers short sale, streamline the process, AND "recommend" realtors they approve of. Lots going on behind the scenes. It appears there are more questions than answers right now, but I am sure more to come.

One thing I believe times are really interesting, and sellers right now you do have some options, whether you have equity or are a possible short sale. Look into all your options.

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Bill would require parents to attend parent-teacher confernces.

Joe Jackson (Keller Williams Capital Partners) — Mon, 26 Oct 2009 11:13:26 -0500

Ohio house bill 319 would require parents of students who attend schools in districts rated " continuous improvement" or lower to attend at least one parent -teacher conference per school year prior to December 31. Parents who do not attend will be fined $50 per child for non-compliance.

No, I am not making this up.

First of all, most schools only have one opportunity for a parent teacher conference prior to December 31. What if the parent can not make the time is it is scheduled? What if a parent has 2 students (or 3 ) in different schools in the same district, but the conference times are all at the same time?

Who is going to enforce this? More time for the school staff to enforce "rules' instead of education the students!

I have been very active in my 3 children's education and make almost all of these conferences. However, this is really an example of "big brother" overkill!!

What is your opinion on this?

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I AM VERY CONFUSED ON THE FUTURE OF THE US ECONOMY!!

Joe Jackson (Keller Williams Capital Partners) — Sat, 24 Oct 2009 17:52:09 -0500

Now I will try to be politically correct. I won't bash Obama nor will I bash Bush

I have read 2 economic forecasters for years and they are in conflict on what is going to happen.

Harry S Dent still believes we are headed for a depression , based on demographic cycles ( see "The Next Great Depression Ahead")

Adrian Van Eck ( who I have read since 1982) feels we are on the edge of a super boom, as US companies pull out of China and bring jobs back to the US!

I hope Adrin Van Eck is right!

Oh, why does the name Obama still not pass my spell cehck?

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