Roger 's Blog

Extension of Tax credit approved!

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Fri, 06 Nov 2009 18:28:11 -0600

The long-awaited extension of the tax credit has been approved by both the House and the Senate and currently awaits President Obama's signature (which is not expected to be a problem). There is also an expansion of the credit to include current homeowners (not just first-time buyers)...however, there are several restrictions along with improvements. The income limits have been increased, the maximum sales price has been set at $800,000, etc.

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

Home Price Reduction Levels Stay Above 25% for Fourth Consecutive Month

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Thu, 29 Oct 2009 14:57:29 -0500

Home Price Reduction Levels Stay Above 25% for Fourth Consecutive Month

Trulia, Inc announced that 25.6% of homes currently on the market in the U.S. as of October 1, 2009 have experienced at least one price cut. More than one in four current listings on Trulia have been reduced in price for the fourth straight month. The total amount slashed from home prices is $28.4 billion, a $967 million increase from June 2009. The average discount for price-reduced homes continues to hold steady at 10% off of the original listing price.

Northeast with Most Homes Reduced; West Sees Biggest Cuts
Five of the 10 states with the highest percentage of homes with price reductions are in the Northeast- Massachusetts, Rhode Island, Connecticut, New Hampshire and New Jersey. One in three homes in these states has cut their list price at least once.

Seven of the 10 states leading the country with the biggest listing price cuts are in the West, where heavy foreclosures have taken their toll. In Nevada, Idaho, Arizona, Wyoming, Hawaii, Utah and California, cuts are an average of 13% off the original list price. Of the $28.4 billion slashed nationally, New York, California and Florida account for 35% of the total value of reductions.

Report Findings
For the first time in four months, Jacksonville no longer holds the top spot for highest level of home-price reductions: Memphis replaced Jacksonville with 36% of current listings experiencing at least one round of discounts. Several cities continue to see high levels of cuts on home prices with Indianapolis, Milwaukee, Minneapolis, Portland and Raleigh, all earning a place in the top 10 for the third consecutive month.

"Interest in real estate typically wanes at the end of the year, which means that sellers who didn't aggressively price their homes may find themselves making difficult decisions to reduce their prices or delay the sale until interest piques again in January," said Pete Flint, Trulia co-founder and CEO. "We are seeing the beginning of this trend in the Northeast and Western United States with discounting happening at all price points, and expect it to continue."

Cities experiencing significant increases in percentage of listings with price reductions from June 2009 to October 2009 include:

-Kansas City, MO - 50% increase in price reductions
-Colorado Springs, CO - 32% increase in price reductions
-Louisville, KY - 27% increase in price reductions
-Indianapolis, IN - 27% increase in price reductions
-Portland, OR - 25% increase in price reductions
-Oklahoma City, OK - 24% increase in price reductions
-Memphis, TN - 24% increase in price reductions
-Tulsa, OK - 23% increase in price reductions
-Milwaukee, WI - 22% increase in price reductions
-Arlington, VA - 22% increase in price reductions

Cities showing the highest percentage of declines for listings with price reductions from June 2009 to October 2009 include:

-San Antonio, TX - 37% decrease in price reductions
-Las Vegas, NV - 36% decrease in price reductions
-Oakland, CA - 17% decrease in price reductions
-San Jose, CA - 16% decrease in price reductions
-Los Angeles, CA - 14% decrease in price reductions
-Honolulu, HI - 11% decrease in price reductions
-Long Beach, CA - 11% decrease in price reductions
-Dallas, TX - 11% decrease in price reductions
-Washington, D.C. - 10% decrease in price reductions
-New York, NY - 9% decrease in price reductions

Luxury Market Not Immune
Luxury homes (those listed at $2 million and above) continue to bear the brunt of discounts being offered with an average of 14% being slashed from the original asking price compared to the national average of 10%. Additionally, luxury homes represent less than 2% of all current listings on Trulia, but are responsible for 25% of the $28.4 billion in home price reductions.

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

Bernanke: Recession is Over, But Tough Times Will Linger

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Thu, 29 Oct 2009 14:54:28 -0500

Bernanke: Recession Is Over, but Tough Times Will Linger

The deep recession that's gripped the U.S. economy by the throat since December 2007 is "very likely over at this point," Federal Reserve Chairman Ben Bernanke recently said.

However, Bernanke painted a picture of an underperforming economy well into next year as he fielded questions after a speech at the Brookings Institution, a center-left research center in the nation's capital.

"From a technical perspective the recession is very likely over," Bernanke said, cautioning that unemployment is likely to remain high. "It's still going to feel like a very weak economy for some time, as many people will still find that their job security and employment status is not what they wish it was. So that's a challenge for us and all policymakers going forward."

Most mainstream economists think that the National Bureau of Economic Research, the official scorekeeper of when recessions begin and end, eventually will declare that this downturn came to an end in the summer or early fall of 2009.

What follows may not feel much like recovery, Bernanke cautioned, because structural problems in the U.S. economy are likely to resurface. There will be economic growth during the rest of this year, "but the general view of most forecasters is the pace of growth in 2010 will be moderate, less than you might expect, given the depth of the recession, because of ongoing head winds." The "head winds" he referred to include an impaired credit system, households still trying to dig out from personal debt and ongoing adjustments in many sectors of the economy, such as construction and autos.

In addition, the government must unwind many of its massive stimulus efforts or risk igniting inflation. That's all likely to lead to a weaker recovery than after past recessions, and a lingering high unemployment rate.

The sluggish outlook was punctuated by August retail sales data recently released by the Commerce Department. Sales rose by 2.7% over July, driven up by the government's "cash for clunkers" car sales program and higher gasoline prices. Drop those two factors, and retail sales rose by only 0.6%. That's another sign of consumer reluctance to spend amid widespread job insecurity.

"The various fiscal stimulus measures, including the cash for clunkers program, are playing a pivotal role in jump-starting the economy in the third quarter of 2009, and that should create enough initial momentum to keep the recovery in motion, but we should not be looking for consumer spending to be a major driver of the recovery beyond the current quarter," Brian Bethune, a U.S. economist for forecaster IHS Global Insight, warned in a research note.

Looking over a longer horizon, Bernanke said that a major factor in the recent global expansion of credit was significantly impaired and unlikely to revive anytime soon. The implication: less lending and at higher costs. The Fed chief was referring to securitization, the process by which loans are sold to Wall Street firms that bundle them together into securities that are sold to investors. Their returns on investment come from monthly payments that consumers make on their homes, cars, credit cards and student loans.

Securitization is in a deep freeze right now because investors no longer want pooled loans, fearing defaults by consumers and businesses. This is one reason it's so difficult now for consumers to get credit to buy cars or houses. Bernanke warned that even when this process resumes, it's unlikely to be as vigorous as it was during the go-go days earlier this decade.

"My forecast would be that the shadow banking system - securitization markets - will come back, will be a substantial part of the U.S. credit system. But they will certainly, at least in the medium term, be simpler, smaller, less opaque, subject to more oversight by regulators," Bernanke said. "And those things, I think, will constrain its growth for a period of time."

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

No Rest for the Weary

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Thu, 29 Oct 2009 14:51:46 -0500

No Rest for the Weary: 75% of Americans Plan on Working as Long as They Can

A new study released by Bankrate, Inc. shows that the vast majority of working Americans plan to work as long as they can during retirement age, showing a redefinition of how Americans view traditional retirement plans. The poll, conducted by Princeton Survey Research Associates International, is included in the new Bankrate Financial Literacy series on Retirement Income.

Among the findings:

-75% of Americans plan to work as long as they can during retirement age. 39% plan to work because they enjoy work while almost one-third plan to work because they'll need the money;
-Although so many Americans plan on working through retirement age, only 15% of retirees polled are currently employed compared to 84% who are not;
-55% of retirees worry about money and wish they had saved more compared to only 38% who think they have enough money to retire without worry;
-The financial crisis has affected many people's plans to retire with only 31% expecting to retire on time as planned while 40% plan on postponing their retirement plans;
-53% of Americans made no changes to their investments due to the financial crisis compared to 14% who went with a more conservative investment approach;
-Almost 40% of Americans are investing for retirement on their own with 16% using an asset allocation plan, 15% picking mutual funds based upon performance, and 8% with a target date fund. Twenty-seven percent use a financial adviser for decisions while 18% don't invest in a retirement plan and 9% don't utilize any strategies;
-Due to a lack of pension plans like today's workforce, 26% of retirees polled are relying solely on Social Security for their income.

"This poll offers an interesting insight into Americans' views of employment and retirement," said Julie Bandy, editor in chief at Bankrate.com. "Seventy-five percent of today's generation plan to work as long as possible, a far cry from that of previous generations. Falling home values and losses in retirement accounts are forcing many Americans to re-evaluate their retirement needs. "

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

Hera-Hoepa -Fees and Loan Data that impact APR

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Thu, 22 Oct 2009 17:10:19 -0500

HERA-HOEPA

Fees & Loan Data that impact APR

Govt Recording/Transf Fees:

· Recording Fee/Assignment

· Subordination/Modification

3rd Party Fees:

· Broker Compensation Fee

· Courier/Messenger Fee

· EDD to 3rd Party

· Fax/Copies/Postage

· Final Inspection

· Flood Life of Loan

· HOA Cert Fee

· Home Warantee

· Mortgage Ins Ap Fee

· Processing Fee

· Re-Draw Fee

· Reconveyance Fee

· Tax Service Fee

· Transfer Fee

· Underwriting Fee

· Wire Transf Fee

Lender Fees:

· Application Fee

· Assumption Fee

· Commitment Fee

· Discount Fee

· Lock extension fee

· Return to Float Fee

· Lock in Fee

· Modification Fee

· Mortgage Broker Comp. Fee

· Origination Fee

· Processing Fee

· Underwriting Fee

· Holdback Fee

Title/Closing/Settlement:

· Closing/Escrow/Settlement

· Mortgage Insurance Fee

· Doc Review

· Escrow/Loan Tie in Fee

· PMI/MIP

· Recording

· Servicing Fee

· Temp. Buydown Fee

· Trust review

· Upfront Mtg Ins.

· Va Funding Fee

Loan Data:

· Per Diem Interest

· Loan Amount

· Interest Rate

· Loan Product

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

Lend $25 Dollars to Kiva, and Change someones Life!

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Wed, 21 Oct 2009 20:00:53 -0500

Kiva

How does it work?

Kiva brings together lenders and worthy enterprises on the web.

From Kenya to Ecuador, microfinance institutions (MFI) around the world go to Kiva.org and post photos and profiles of low income entrepreneurs in need of money for their businesses.Loans made easy and personal.

Lenders go to Kiva.org and browse through profiles of low-income entrepreneurs-a dairy farmer in Kenya, a man who wants to open a shoe shop in Honduras, or a tailor in Bulgaria. Lenders can then loan as little as $25 to the entrepreneur of their choice via PayPal, a globally recognized online payment service.When a loan is funded by individual lenders, Kiva pools the money and transfers it to a Microfinance partner who handles distribution and collection of loan payments.

Journal updates keep the lenders informed about the progress of the entrepreneur they sponsored. Loan repayments made by the entrepreneur over the course of about 6-18 months are sent back to Kiva by the MFI partner.Once loans are repaid, Kiva users can choose to withdraw their principal or re-loan to another entrepreneur. (80%+ of Kiva lenders choose to re-loan!

Kiva Shows You Where Your Money Goes Unlike donations which usually go into general funds, Kiva loans show you exactlyWHO your money goes to, WHAT they are doing with it, and HOW you are making a difference. Best part? It's a loan, not a donation. We invite you to make a small loan and make a big difference!

Kiva is a regisitered 501(3)(c) non-profit based out of San Francisco, CA

www.kiva.org

GET repaid within months. Withdraw your money or lend again! WATCH your entrepreneur's small business grow via email updates SELECT an entrepreneur and make a small loan (as little as $25)

KIVA TRANSFERS funds abroad to a microfinance partner who administers the loan loans that change lives Kiva.org is a non-profit that is revolutionizing the fight against global poverty by enabling people to connect with and make personal loans-of as little as $25-to low-income entrepreneurs in the developing world. Most of the poor in developing countries are self-employed entrepreneurs and a small loan to purchase business-related items such as sewing machines or livestock can empower them to earn their way out of poverty."Innovation of the W eek: Kiva.org uses smart design to make a little cash go a long way."

"Revolutionizing how donors and lenders in the US are connecting with small entrepreneurs in developing countries."

"If you've got 25 bucks, a PC and a PayPal account, you've now got the wherewithal to be an international financier."

"Kiva simply democratizes access to a worldwide microfinance movement that has been empowering the working poor for two decades."

"At Kiva.org, a schoolteacher in K ansas can partner with an expert seamstress in countries like Kenya, Mexico and E cuador to jump-start a tailor shop."

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

10 Things to Do to make sure your loan gets denied!

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Wed, 21 Oct 2009 15:00:53 -0500

Forget to mention that you just bought a new car or stereo system.
Forget to mention that you have to pay child support or alimony.
Forget to mention that you will be going on maternity leave during the escrow.
Forget to mention that the money you are using for the down payment and closing costs are coming from a gift from family and there is not way to document it.
Forget to mention that one of the borrowers (husband/wife) hasnt recieved green card yet, or greencard is expiring.
Forget to mention that the borrower is married (applied as single man/woman), and let the lender discover it when you sign loan papers.
Have the money needed to close escrow come from the sale of another property that hasnt closed yet, and you need to close this escrow first.
Apply on line with one of these online companies and have your credit report run 10 times in a row, guaranteed to change your fico scores to qualify.
Create your own paystub, bank statement or w-2, tax return.
When the lender audits your loan file before coe by calling your employer to verify your employment, make sure you have quit or are on unpaid leave.

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

Have you hugged your loan officer and escrow/Title officer lately?

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Wed, 21 Oct 2009 13:29:01 -0500

In the real estate business non of us get enough credit for all we do to make it look easy!

This is good and bad.....good for the customer (they appreciate how smooth the process went), bad for us in that they think we are over paid for doing what a monkey could do.

I am amazed how little some agents thank the loan officer and the escrow officer for all the last minute things they do to make the deal close on time (e.g. Lender:drawing docs at the last minute, changes to closing costs, credits, changing coe dates, two week closes. e.g. Title/Escrow: preparing docs for signing in 1-2hrs of reciept of the loan package, doing signoffs on evenings, weekends, and when they should be at lunch, rushing the prelims out, waiting for the client/agents/loan officers for the apt when they are 15-30min or more late,etc.).

In real estate (I have been doing lending for over 25 years), it never ceases to amaze me how little we acknowledge the excellent work most of us do day to day. When is the last time you gave your loan officer or escrow officer a hug, a box of chocolates, a thank you card......just for being there for you and working as such a great team? If you havent done it lately...take a moment today to give them a call, an email, a note just letting them know how much you appreciate them and all they do for you.....you might be surprised how it will come back your way.

I know how much rejection realtors get every day, every hour ( I am the in house lender with Wells Fargo in a local high end real estate office in Burlingame, CA)....I know how hard they work and how some times the client goes with another agent after all the time and money is has been invested by you. As a lender I know rejection too....how many times I am rushed to get the preapproval letter out to find out the client never intended to use me for the loan just use me for the offer getting accepted (sometimes the agents are full participants in this......shame shame).......so in a business racked with curve balls, disappointments, glory, miracles, wonderful clients and escrows, happy memories, first homes, new babies, growing families......lets not forget to say THANK YOU!

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

650.796.0326

www.rogerhunt.com

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

Life is what happens when you are making other plans!

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Tue, 20 Oct 2009 18:35:35 -0500

Life is what happens when you are making other plans!

Who better than the "skipper" from Gilligans Island would know that?

He started off his 3 hr cruise one day like any other day, and what happened?

He was stranded with two rich people, a movie star, a professor, Gilligan, Maryann.

Maybe he should have stayed home that day!

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

10 Things to do to make sure your escrow doesn't close on time!

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Tue, 20 Oct 2009 18:26:15 -0500

Ten Things to do to make sure your escrow doesn't close on time!

Don't get the signed purchase contract and addendums to the loan officer/bank right away.
Don't meet the appraiser at the property asap to complete buyers appraisal.
Take your time getting the HOA docs to Lender on condo and townhome.
Provide a seller credit to the buyer without letting the lender know and have the credit be for things other than the non recurring costs (wait till the signing of the loan papers to let lender know).
Mention in the purchase contract a pest inspection, and that the buyer is purchasing the property as is, without providing pest clearance if Section 1 noted in inspection.
Don't have the utilities (water and gas/electric) in working condition when the appraiser does appraisal.
Have the purchase contract list only the husband or the wife (not both), but have the lender do the approval on both of them.
Change the close of escrow date to 2 wks earlier, without letting the lender know.
Change Title/Escrow companies without letting the lender know.
Don't stay in contact each step of the way with the lender.

I know you have never done some of these things, but you would be surprised how many times they still happen and to seasoned agents......

Moral of the story?

Team work.......the escrows that move the smoothest and are the least stressful to your clients are the ones where everyone (Title, lender & Agents) work together to get the escrow closed. All are irreplaceable!

I attend every signoff and sign my clients off at 3 days before coe, and usually 1 wk......in 25 years, this has been the single most significant thing I do....it allows for murphys law, and time to make corrections well ahead of time...many times without the borrowers having to be aware of the hick ups! Teamwork is critical!

Roger

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

How to rescue a squirrel...

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Tue, 20 Oct 2009 17:57:13 -0500

I saw this posting.....loved the title, and thought the story was interesting...hope you find it also! thanks

roger

Via Lake Livingston Real Estate by Deb Brooks:

One of my favorite things on Sunday is having the time to surf Active Rain and say hello to my friends. I love reading all the diverse topics and being able to view the world from others' perspectives! I learn, I laugh and I love getting to know so many different people and personalities. Just opening the dashboard is a wealth of information and so much better than the Houston Chronicle even though you don't give out coupons! Ha!

I just read Michael Thornton's Feature "FIREPLACES-HIDDEN DANGER" and it now brings me to the topic of this post....

SQUIRRELS.

Yep, squirrels.

And chimneys.

Yep, chimneys.

Why, you ask....

Well, there really is a point here.

Once upon a time in a land far away called Deb's house there was a chimney without a chimney cover. (not a good idea by the way). Now in this said chimney it was not unusual to hear birdies, possibly Chimney Sweeps settling in for their spring nest. Deb always enjoyed listening to the chirping sounds of the babies and it became a strong sign of Spring.

One day, Deb began to hear odd noises coming from the chimney that didn't sound very familiar. It was more like a scratching and shuffling. Confused and bewildered Deb ASSUMED (you know what they say about that word) that it was no big deal.

Soon the noise ceased. And, the bewilderment was forgot!

A couple of days later Deb awakened to the birds singing and went in to pour her morning coffee.

OMG, SOMETHING DIED IN HERE was her reaction. YUK AND PEEEEEUUUUUU. Oddly enough the smell was coming from the chimney.

911....PROFESSIONAL CHIMNEY SWEEPS PHONES WERE RINGING OFF THEIR WALLS TILL DEB SECURED ONE.

Sad but true a little squirrel had climbed down the chimney and couldn't get out. Huh. Deb always thought that if it got in it could get out. Go figure....

The chimney was cleaned with care and with Febreeze and candles the aroma wained. Deb got a brand new chimney cover and it has stayed critter free ever after.

WHAT THE CHIMNEY SWEEP TOLD ME. NOW THE POINT OF THE STORY.

If you ever get a squirrel down your chimney don't panic...and don't ignore it.

Simply drop a rope down the chimney and this will allow the squirrel to escape. See, it's not rocket science but no matter what it is I seem to have to learn it the hard way!

lol, Happy Sunday.

Deb

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

10 Commandments Home Buyers Must Follow

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Tue, 20 Oct 2009 17:47:03 -0500

I really liked this posting by Dr. CHANTAL SAUCIER....it really is true!

thanks

Roger

Via Dr. Chantal Saucier (Keller Williams Realty Acadiana):

These 10 Commandments home buyers must follow may seem like common sense to many. Buyers, however, can sometimes forget with all the excitement surrounding the buying of their new home. In the past couple of weeks, I have heard of two separate buyers who saw their home loan turned down, and their dream shattered, a few days before closing because they had bought furniture for their new home before it actually became their home. Both of them now have beautiful furniture with no home to put them in.

These two buyers were not my clients but it always hurts when I hear of transactions falling apart for reasons that could have been avoided. These 10 commandments are part of the buyer packet I give all my clients when we first meet and I always stress that once they get pre-approved and the process is started, they can't do anything that might affect their credit.

1. Thou shalt not change jobs, become self-employed or quit your job.

2. Thou shalt not buy a car, truck or van (or you may be living in it)!

3. Thou shalt not use credit cards excessively or let your accounts fall behind.

4. Thou shalt not spend money you have set aside for closing.

5. Thou shalt not omit debts or liabilities from your loan application.

6. Thou shalt not buy furniture.

7. Thou shalt not originate any inquiries into your credit.

8. Thou shalt not make large deposits without first checking with your loan officer.

9. Thou shalt not change bank accounts.

10. Thou shalt not co-sign a loan for anyone.

If you are in the process of buying a home, remember that your credit must not change or be affected in any way until you actually sign the paperwork and get possession of your new home. Lenders will not only look into your credit when you first get pre-approved, they will check it again (and sometimes again and again) before they let you sign the mortgage. If you want to buy new furniture for your home or change jobs, just be patient. There will always be time to do it after the closing.

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

Why can't we live life like a dog?

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Tue, 20 Oct 2009 17:25:09 -0500

Oh to live life like a dog!

They are happy just to go for a walk, to sit in the car when you run errands, to play frisby or catch with the tennis ball, or just to sit next to you while your reading a book or watching tv. They dont ask much, just a meal, a couple treats, some loving and petting, some play time and plenty of sleep.

It reminds me about a sermon my pastor gave back when I was in High School, the parable about the flowers of the fields....how they dont worry and fret about the rain and the soil and the sun, they just grow and blossom and live life to the fullest.

Humans.....we make life so complicated and messy, with all our priorities, our "emergencies", our drama.....at the end of the day, how much of our day is consumed with things, that in the great scheme of things dont really matter.......

The dog is loyal, simple, basic, loving, affectionate & true.

The dog is there when I come home from a hard day at work, with his smile and energy he makes me forget in a minute about all of that other stuff, and just laugh and want to be with him!

Oh, to be a well cared for dog!

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

More Housing Aid is on the Way

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Tue, 20 Oct 2009 17:01:08 -0500

More Housing Aid Is On the Way

Washington Aims to Shore Up State, Local Agencies That Help Buyers With Few Options

Wall Street Journal, By Nick Timiraos and Jessica Holzer

October 20, 2009

The Obama administration unveiled steps to help state and local housing-finance agencies provide mortgages and rental housing to thousands of low- and moderate-income families, underscoring the expansive role the government has taken to stabilize the U.S. housing market.

State and local housing-finance agencies, or HFAs, play a modest role in the housing market but represent one of the few sources of mortgages for many first-time and low-income home buyers. The federal aid is designed to revive HFAs' lending by shoring up their financing. State agencies sharply curtailed their lending after the credit crunch deepened one year ago.

Tax-exempt bond issuance by HFAs has fallen to $4 billion in 2009 from $10 billion last year and $16 billion in 2007, according to the National Council of State Housing Agencies.

"This initiative is crucial to helping working families maintain access to affordable rental housing and homeownership in tough economic times," Treasury Secretary Timothy Geithner said.

Under the program, the Treasury Department will purchase securities from Fannie Mae and Freddie Mac that are backed by state and local housing-agency bonds. Before using the proceeds of new bonds under that program, the HFAs will have to sell a portion of new debt to private investors in an effort to attract private capital to the market.

Housing agencies were slammed by a host of market forces a year ago, when the pool of investors who could take advantage of tax-exempt securities shrank and interest rates rose on municipal securities. Administration efforts to lower mortgage rates through government purchases of mortgage-backed securities have also competed against state agencies, making it harder for them to offer attractive financing.

The Treasury program will also allow Fannie and Freddie to offer temporary funding mechanisms designed to lower the costs associated with short-term debt that states increasingly issued in recent years to fund long-term mortgages. Around 38 HFAs have some $30 billion in variable-rate debt outstanding.

Some HFAs began a painful deleveraging process after that funding mechanism -- intended to increase the agencies' lending ability -- backfired. Some state housing agencies, including those in California and Wisconsin, have largely stopped making new loans.

The Treasury said it hadn't yet determined the scale of either initiative and wouldn't provide a dollar amount.

Officials said the program would be funded by fees paid by the HFAs, in order to avoid any taxpayer subsidy.

"We thought this was an appropriate and confined area in which we should take action," said Michael Barr, an assistant treasury secretary.

HFAs finance the development of affordable rental housing and offer a range of programs to first-time home buyers, including counseling for borrowers that begins before they buy a home and assistance programs that lend down payments and closing costs to borrowers. Loans from HFAs require full documentation of incomes, and have performed better than subprime loans.

"One of the unfortunate takeaways from the subprime crisis is that working people can't sustain homeownership. They can, if it's done right," said Barbara Thompson, executive director of the National Council of State Housing Agencies, a trade group that represents state HFAs.

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

Don't Call Me; I'll Call You

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Mon, 19 Oct 2009 18:47:24 -0500

I liked this blog......great info.....good advice!

Via Brian Block -- Northern Virginia & D.C. Real Estate (RE/MAX Allegiance):

Feedback.

Everybody wants it. Whether a score on a test, an enthusiastic thumbs up or pat on the back, or just a simple acknowledgement, it's human nature to want feedback.

Hence, the question "How was it for you?" Sometimes if you need to ask that question, it's not really worth asking because you may not like the response.

When it comes to the practice of real estate, listing agents promise their clients that they're going to get feedback from the other agents who visit their home. After a rush of weekend showings, listing agents hit the phones calling up the hordes of agents who brought clients through the door on Saturday and Sunday.

There's just one problem. After driving all around town with their buyers, agents' minds often turn to mush. The homes blend together, particularly when they are all 4-5 bedroom colonials in the same price range. When they get the call on Monday or Tuesday after a busy weekend of viewing 8-10 homes, most of these buyer agents can't give intelligible feedback. Certainly not when put on the spot by the listing agent who invariably says "but you must remember our home -- the one with the fireplace and the wood floors."

One step above is the e-mail feedback software that's available. At least that allows agents to respond on their own time, their own schedule and usually includes reminder photos of the home.

I've been on both sides of the table and I've learned one thing: If buyers are interested in the listed home, the buyer's agent will call the listing agent. It happens every time.

In other words, don't call me - I'll call you.

Thank you for reading my blog post. If you like what you’ve read, then please:

Follow, Connect, Watch, Subscribe

If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
you can visit my main Northern Virginia & D.C. real estate website at www.brianblock.com.

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

Pumpkin Carving Stencils-Courtesy of History.com

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Mon, 19 Oct 2009 18:31:05 -0500

Pumpkin Stencils

Use these pumpkin carving stencils from History.com to carve your pumpkins. Simply select the template you want to use, print it out and get carving!

Beginner

Advance

George Washington Stencil

Benjamin Franklin Stencil

Lincoln Memorial Stencil

Mount Rushmore Stencil

Liberty Bell Stencil

Patriot Stencil

Pilgrims Stencil

The Statue of Liberty Stencil

American Flag Stencil

American Eagle Stencil

Horn of Plenty Stencil

Fall Season Stencil

» back to top

Advance Pumpkin Stencils - Credit:
Jay Ball

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

Jack a lanterns-Pumpkins/History Channel

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Mon, 19 Oct 2009 18:16:03 -0500

Pumpkin carving is a popular part of modern America's Halloween celebration. Come October, pumpkins can be found everywhere in the country from doorsteps to dinner tables. Despite the widespread carving that goes on in this country every autumn, few Americans really know why or when the jack o'lantern tradition began. Or, for that matter, whether the pumpkin is a fruit or a vegetable. Read on to find out!

People have been making jack o'lanterns at Halloween for centuries. The practice originated from an Irish myth about a man nicknamed "Stingy Jack." According to the story, Stingy Jack invited the Devil to have a drink with him. True to his name, Stingy Jack didn't want to pay for his drink, so he convinced the Devil to turn himself into a coin that Jack could use to buy their drinks. Once the Devil did so, Jack decided to keep the money and put it into his pocket next to a silver cross, which prevented the Devil from changing back into his original form. Jack eventually freed the Devil, under the condition that he would not bother Jack for one year and that, should Jack die, he would not claim his soul. The next year, Jack again tricked the Devil into climbing into a tree to pick a piece of fruit. While he was up in the tree, Jack carved a sign of the cross into the tree's bark so that the Devil could not come down until the Devil promised Jack not to bother him for ten more years.

Soon after, Jack died. As the legend goes, God would not allow such an unsavory figure into heaven. The Devil, upset by the trick Jack had played on him and keeping his word not to claim his soul, would not allow Jack into hell. He sent Jack off into the dark night with only a burning coal to light his way. Jack put the coal into a carved-out turnip and has been roaming the Earth with ever since. The Irish began to refer to this ghostly figure as "Jack of the Lantern," and then, simply "Jack O'Lantern."

In Ireland and Scotland, people began to make their own versions of Jack's lanterns by carving scary faces into turnips or potatoes and placing them into windows or near doors to frighten away Stingy Jack and other wandering evil spirits. In England, large beets are used. Immigrants from these countries brought the jack o'lantern tradition with them when they came to the United States. They soon found that pumpkins, a fruit native to America, make perfect jack o'lanterns.

Video: Steve Clarke, The World's fastest Pumpkin Carver, Talks about the History of the Jack O' Lantern.

Video: How to carve a pumpkin using the Ben Franklin stencil.

Video: How to carve a pumpkin using the Mount Rushmore stencil.

Stencils: Ben Franklin, Mount Rushmore

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

Ancient Origins of Halloween-History Channel

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Mon, 19 Oct 2009 18:13:15 -0500

Halloween's origins date back to the ancient Celtic festival of Samhain (pronounced sow-in).

The Celts, who lived 2,000 years ago in the area that is now Ireland, the United Kingdom, and northern France, celebrated their new year on November 1. This day marked the end of summer and the harvest and the beginning of the dark, cold winter, a time of year that was often associated with human death. Celts believed that on the night before the new year, the boundary between the worlds of the living and the dead became blurred. On the night of October 31, they celebrated Samhain, when it was believed that the ghosts of the dead returned to earth. In addition to causing trouble and damaging crops, Celts thought that the presence of the otherworldly spirits made it easier for the Druids, or Celtic priests, to make predictions about the future. For a people entirely dependent on the volatile natural world, these prophecies were an important source of comfort and direction during the long, dark winter.

To commemorate the event, Druids built huge sacred bonfires, where the people gathered to burn crops and animals as sacrifices to the Celtic deities.

During the celebration, the Celts wore costumes, typically consisting of animal heads and skins, and attempted to tell each other's fortunes. When the celebration was over, they re-lit their hearth fires, which they had extinguished earlier that evening, from the sacred bonfire to help protect them during the coming winter.

By A.D. 43, Romans had conquered the majority of Celtic territory. In the course of the four hundred years that they ruled the Celtic lands, two festivals of Roman origin were combined with the traditional Celtic celebration of Samhain.

Video: The haunting History of All Hallow's Eve (Halloween).

Video: Timothy Dickinson tells the intriguing tale of why we celebrate Halloween, and it's evolution from Samhain, an ancient Celtic Harvest Festival.

The first was Feralia, a day in late October when the Romans traditionally commemorated the passing of the dead. The second was a day to honor Pomona, the Roman goddess of fruit and trees. The symbol of Pomona is the apple and the incorporation of this celebration into Samhain probably explains the tradition of "bobbing" for apples that is practiced today on Halloween.

By the 800s, the influence of Christianity had spread into Celtic lands. In the seventh century, Pope Boniface IV designated November 1 All Saints' Day, a time to honor saints and martyrs. It is widely believed today that the pope was attempting to replace the Celtic festival of the dead with a related, but church-sanctioned holiday. The celebration was also called All-hallows or All-hallowmas (from Middle English Alholowmesse meaning All Saints' Day) and the night before it, the night of Samhain, began to be called All-hallows Eve and, eventually, Halloween. Even later, in A.D. 1000, the church would make November 2 All Souls' Day, a day to honor the dead. It was celebrated similarly to Samhain, with big bonfires, parades, and dressing up in costumes as saints, angels, and devils. Together, the three celebrations, the eve of All Saints', All Saints', and All Souls', were called Hallowmas.

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

Why dogs don't like Halloween..............

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Mon, 19 Oct 2009 17:59:46 -0500

I loved this posting and had to share it...I agree with the author...poor pouches!!!!!!

Roger

Via Ralph Gorgoglione (EcoBroker Certified - John Aaroe Group, Inc.):

This is why dogs don't like Halloween. I mean, can you really blame them? Oy, vey. It's like each one of them are saying "what did I ever do to deserve this?"

These guys are awful cute, though.

I suppose the one drawback to this is whomever the people are who took all of this time sewing the costumes could have been out there SELLING HOUSES!!!! AAAAAAARRRRRRGH!!!

Have a Happy Halloween, boys and ghouls........................

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

Trick or Treat! Happy Halloween!

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Mon, 19 Oct 2009 16:08:44 -0500

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

Roger's Inspirational Quotes

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Mon, 19 Oct 2009 15:55:46 -0500

"Remember always that you have not only the right to be an individual, you have an obligation to be one. You cannot make any useful contribution in life unless you do this"

Eleanor Roosevelt

"We are taught by great actions that the universe is the property of every individual in it""We don't see things as they are, we see them as we are"

Anais Nin

"This is the happiest of all men, for his is superior to everything he possesses"

Voltaire

"If you set out to be liked, you would be prepared to compromise on anything at any time, and you would achieve nothing"

Margaret Thatcher

"The human contribution is the essential ingredient. It is only in the giving of oneself to others that we truly live"

Ethel Percy Andrus

"The secret of a leader lies in the tests he has faced over the whole course of his life and the habit of action he develops in meeting those tests"

Gail Sheehy

"The thing you really believe in always happens....and the belief in a thing makes it happen"

Frank Lloyd Wright

"Whenever you are asked if you can do a job, tell'em "Certainly, I can!" Then get busy and find out how to do it"

Theodore Roosevelt

"The true Christmas bathes every little thing in light and makes one cookie a toke, one candle, one simple pageant more wonderful than anything see on stage or screen"

Barrison Keillor

"The world is round and the place which may seem like the end may also be the beginning"

Ivy Baker Priest

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

Inspirational Quotes

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Fri, 16 Oct 2009 15:48:24 -0500

"You aren't just the age you are. YOu are all the ages you ever have been"

Kenneth Koch

"Leadership is a potent combination of strategy and character. But if you must be without one, be without the strategy"

H.Norman Schwarzkopf

"It's but little good you'll do a-waterering the last year's crops"

George Elliot

"I found that the men and women who got to the top were those who did the jobs they had in hand, with everything they had of energy and enthusiasm and hard work"

Harry S. Truman

"The mediocre teacher tells. The good teacher explains. The superior teacher demonstrates. The great teacher inspires"

William A. Ward

"If you can react the same way to winning and losing, that....quality is important because it stays with you the rest of your life"

Chris Evert

"Faith and doubt both are needed-not as antagonists, but working side by side-to take us around the unknown curve.

Lillian Smith

""One must not always think so much about what one should do, but rather what one should be. Our works do not ennoble us; but we must ennoble our works.

Meister Eckhart

"Let us more and more insist on raising funds of love, of kindness, of understanding, of peace.

Mother Teresa

"It is not what happens in life that matters. It is what we do with what happens"

unknown

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

5 Tips to Make Cold Calling Easier!

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Fri, 16 Oct 2009 15:11:01 -0500

Hate to Make Cold Calls? 5 Tips to Make It Easier

By Maya Bailey, Ph.D.

RISMEDIA, October 12, 2009-Have you often avoided making those "dreaded cold calls?" Do you dream of how much better your business could be but just can't bring yourself to pick up the phone?
You're not alone. In the 12+ years that I have specialized in coaching real estate agents, I have noticed the same avoidant patterns in each of my clients. This article gives you 5 tips to make the process of cold calling easier.

Tip 1: Change the name
I'm not kidding. Do the words "cold calls" send a chill up your spine? It's no wonder- whoever created that term didn't know what they were doing. So, change the term, because it's inaccurate. First of all, many of the people you'll be calling are leads. Second, why would you think cold? Are you cold? Is the receiver of the call cold? Not likely if you're living in a human body.

So maybe I'm exaggerating a bit, but the point is, call it something different, call it what it is, "direct response calls." My clients do much better when they realize they are making direct response calls.

Tip 2: Be in the right mindset
Think about the fact that you have something to offer. You know much more about real estate than Ms. Jane Doe. So if you call to let her know what properties have sold in her area, that is valuable information. Likewise, if you want to offer her a Free Comparative Market Analysis- that's a gift of your time, energy and expertise. You should be proud to offer that. Guess what? If you are proud to offer that, she'll most likely feel appreciative of the offer. Our energy and mindset is transferred to our prospective clients.

Tip 3: Use a permission based approach
For example, when I do direct response calls, the conversation goes something like this, "My name is Maya Bailey and I work with real estate agents who want to double their income. If you'd like to take 30 seconds, I'll be happy to tell you what I do." Notice that I didn't barrel my way through. I said as little as possible until I got their permission to continue.

Tip 4: Get excited about the relationships you'll make
If you approach this in a permission based way, people will be much more open and friendly to you. Instead of focusing on the occasional rude person at the other end of the line, focus instead on what you want.

Most likely what you want is to make some connections with a person, in which you can follow up, convert them into prospective clients and then convert them into transactions. Let yourself feel how good it's going to feel to close those deals. Pat yourself on the back because it all started with the courage it took to make direct response calls.

Tip 5: Remember to reframe a "no" into a "yes"
First of all a "no" does not mean that you are being rejected. Neither does it mean that your service is being rejected. What it means is "No, not now."

Secondly, do you realize that every "no" brings you one step closer to your "yes?" It's a numbers game and you need a certain number of "no's" to get a "yes." Just remember to have thick skin and not take it personally.

Dr. Maya Bailey, author of, Law of Attraction for Real Estate Professionals, integrates 20 years of experience as a psychologist and 12 years as a business coach with her expertise in the Law of Attraction. Her powerful work creates a success formula for real estate professionals ready to double and triple their incomes. Get Dr. Maya's free report, 7 Simple Strategies For More Clients in 90 Days, by visiting www.90DaystoMoreClients.com. Also, check out her new Success Program, designed to help you get focused, motivated, stay on track and create a Positive Mindset, no matter what.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

dow Jones Economic Sentiment Indicator Rises for Sixth Consecutive Month

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Fri, 16 Oct 2009 14:09:02 -0500

Dow Jones Economic Sentiment Indicator Rises for Sixth Consecutive Month

RISMEDIA, October 12, 2009-The Dow Jones Economic Sentiment Indicator (ESI) reached its highest level in a year rising to 35.5 in August, the sixth consecutive monthly increase. The ESI's continued improvement lends guarded support to the growing view that the U.S. economy may be moving out of recession and into a period of recovery.

"In addition to the ESI's positive trend, we've seen several months of positive movement in the Leading Economic Index and industrial production which have in the past signaled a move to economic growth," said Dow Jones Newswires ‘Money Talks' columnist Alen Mattich. "The continued improvement of the ESI coupled with the gains of other leading indicators is a sign that the U.S. economy continues to steer a course towards recovery."

Mattich points out, however, that it would be premature to call an end to the recession. "It will be months before the National Bureau of Economic Research determines the timing of the recession's trough and a return to growth. We continue to wait for the ESI to reach the upper 30s before anticipating an end to the recession and thereafter for it to reach the upper 40s before sentiment suggests the recovery is sustainable," Mattich said.

The National Bureau of Economic Research (NBER) is the official arbiter of U.S. economic cycles, identifying the dates of peaks and troughs that frame economic recession or expansion. On December 1, 2008, the NBER announced that it had determined the current recession began a full year earlier, in December 2007. The NBER's determination that November 2001 marked the end of the U.S. economy's previous recession was announced on October 21, 2003, 23 months after the economic recovery had begun.

For more information, visit www.dowjones.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com

Data Shows Continued Improvement in Home Value Trends

Roger Hunt (Private Mortgage Advisors/an affiliate Wells Fargo Bank N.A.) — Fri, 16 Oct 2009 14:02:49 -0500

July 2009 Data Shows Continued Improvement in Home Value Trends

By Stan Humphries, Zillow.com Chief Economist

RISMEDIA, October 12, 2009-Home values continued to show encouraging signs according to new data released in Zillow.com Real Estate Market Reports for the July 2009 time period. The Zillow Home Value Index (ZHVI) was down 9.9% from its level one year ago, compared to a 10.5% and an 11.9% annualized depreciation rate at the end of June and the end of the first quarter of 2009 respectively. While home values nationally are now down 21% from their peak in the second quarter of 2006, July marked the sixth consecutive month of improvement in the annualized depreciation rate for the nation. The ZHVI was down 0.4% from June, so home values were still not flat on a sequential basis.

Some of the hardest-hit metropolitan areas continued to show weakness. The ZHVI for Las Vegas, NV, down 53% from peak, was down 32% from July of last year (and 3.1% from June 2009) and still hasn't seen improvement. Moreover, the percent of all homes in Las Vegas that were foreclosed in the month has been increasing again for the past two months after several months of decline. Similarly, depreciation in Phoenix, AZ (down 46% from peak) has stabilized but the metro area is still reporting a 25% decline in home values from levels last year and the percent of foreclosed homes is also rising again. Riverside (down 52% from peak), Miami (down 45% from peak), and Tampa (down 41% from peak) are seeing some improvement in annualized depreciation rates albeit their rates are still quite high (-26%, -21% and -20% respectively) and all three still show substantial declines from the prior month (-1.6%, -1.0% and -1.1% respectively).

In almost all markets, the worrisome trend to watch is the increasing number of foreclosures. While the foreclosure re-sale rate (sales of foreclosed homes as a percentage of all sales) is declining in most markets, this is mostly attributable to increases in the total number of homes sold, not a reduction in the number of foreclosures. Looking instead at the number of homes being foreclosed as a percentage of all homes, most markets are showing a resurgence now in foreclosures. Indeed, even the foreclosure re-sale rate is expected to climb again in most markets as home sales begin to decline in the fall and winter (home sales will taper off seasonally but foreclosures will continue to pick up steam). It's for this reason (combined with the overall high levels of for-sale inventory still present in many markets) that we expect the monthly change in ZHVI to continue to remain negative for the next few quarters, although we expect annualized depreciation rates to continue to moderate.

For more information, visit www.Zillow.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Roger Hunt

Private Mortgage Advisors (an affiliate of Wells Fargo Bank, N.A.)

Burlingame,CA 94010

650.796.0326

www.rogerhunt.com

roger.m.hunt@wellsfargo.com