Debbie's Boise Real Estate Blog

HELP! My rental has carpenter ants and I cant seem to get rid of them!

Debbie Holmes (Gold Key Real Estate) — Thu, 01 Oct 2009 23:38:35 -0500

I have a rental in Boise Idaho that is infested with carpenter ants. I have been through 2 exterminators who have put stuff in my crawl space, put stuff in my walls, put stuff in the house and outside the house. My handyman found 6 nests and destroyed them and yet the keep coming back. I am a wits end. My tennant is about to move out and I don't blame her. Carpenter ants are something that must be disclosed when a house is sold and the market it terrible anyway. I can't move another tennant in until the ants are gone. I am also running out of money to deal with this problem or an empty rental. How do I get rid of these pests? Have they destroyed my house?

Bank forclosed and second has asked for money.

Debbie Holmes (Gold Key Real Estate) — Thu, 11 Jun 2009 18:52:27 -0500

I have a listing that was foreclosed upon in February. There was a first at 187K and a second at 71 K. I had a great offer but the banks wouldn't negotiate and the market fell further. Today my client called. The second wanted their money. I know the banks do not have to forgive the debt but my client doesn't have it. We discussed this possibility from the beginning and I think my client will have to declare bankrupcy. I will call First Tennessee in the morning and see what can be done. Does anyone have any ideas?

Debbie is thinking about signing up for growth leader. Any opinions?

Debbie Holmes (Gold Key Real Estate) — Mon, 30 Mar 2009 18:59:32 -0500

Well I ran for Congress and lost.

I had a bilateral mastectomy and am on the mend.

Now I need to attend to my business.

I used to be a justlisted agent with market leader. I found it sort of ok. Now they have a new product called growth leader. I am thinking about trying it out but it will cost $505 until July 1 for 60 prospects a month. These are just hits on a website. Anybody use them or chose not to. I am looking for opinions. I sort of need to do something to start prospecting again.

I am back in business after my campaign for Congress... Now I need to sell houses...

Debbie Holmes (Gold Key Real Estate) — Sun, 16 Nov 2008 15:13:30 -0600

Well I am trying jump start my business after taking time off to run for Congress. I didn't win. Any ideas on how to make a run for Congress useful for a real estate career. By the way I am a Democrat.

Debbie Holmes and the presidents address

Debbie Holmes (Gold Key Real Estate) — Sat, 20 Sep 2008 18:09:37 -0500

Here is my press release:

I am cautiously optimistic. This whole crisis could have been prevented with proper oversight and regulation. Last year the government could have stepped in while the cancer on the economy was contained to the subprime market. The Republicans, including my opponent Mike Simpson, voted against foreclosure relief both for banks and homeowners. Now that the cancer has metastasized throughout are whole economy (both national and global) we need to act. I think the proposal might work but I want to know the detail on buying the bad loans. I would hope that the government, like any other investor, would be obtaining them at a steep discount. Otherwise we all stand to lose since the loans are not worth near face value. I also worry that banks may be less willing to settle short sales if they think the government will bail them out. I also wonder if this will let the bottom feeders of the market buy property from the government at discount prices. This would be unfortunate since the bottom feeders helped start the crisis.

On the up side I would hope that the government might be able to renegotiate some of the loans so that the homeowners could keep their homes. Unlike a bank the government might not be motivated by greed. Properly managed this could be a win for the homeowners, banks and government. Improperly managed this could be a win for the banks and a big loss for everybody else. In the future, crises should be solved before they are started. The cost of not acting is clearly a world-wide economic meltdown.

To see my campaign site click here

I need help with a short sale with Wells Fargo and First Tenn.

Debbie Holmes (Gold Key Real Estate) — Wed, 16 Jul 2008 22:09:45 -0500

namI have been working on a short sale with Wells Fargo and First Tenn. The first mortgage is at $187K with Wells Fargo, the second is $68K with First Tenn.... My client is now 4 months behind in payments. We had a good offer at $185 K. The Wells Fargo appraisal came back at $198K and the BPO from First Tenn. came back a month later at $190K.

Wells Fargo took 2 months to deal with the short sale and first rejected it because they felt that they were entitled to 100% of value in a declining market. The negotiator never talked to me or returned any phone calls. I wrote back a fax saying why I thought they should accept the short sale (letter below). Later without responding to any points of my letter they cancelled the short sale because of the second. They said they would give 3% but the second wanted 10%. I tried to contact my short sale negotiator but was told I didn't have one any more. They couldn't answer any questions until I had another offer..... Grrrr.... My client would like this to end so I tried to talk to them about deed in lieu of foreclosure. They said they couldn't use anything the in the short sale package, and he would have to resubmit. They told him to contact the second but the second has told him Wells Fargo needs to make the offer. We are still at least 4 months from foreclosure (no notice). Everytime they call him he gets a different story (sort of like me)....

My questions are how do I come up with the $4800 difference from what the second wants and the first is willing to give? Can I write the real estate contract that spells out what is going to happen? What do you do when there is trouble between the banks. Wells Fargo's investor is Fanny Mae. Tomorrow I'll find out what the second's investor is.

copy of letter

Deborah Holmes

Gold Key Real Estate

915 N. Cole Rd.

Boise, ID 83704

(208)761-2551

D5holmes@msn.com

June 11, 2008

name cut

Short Sale Negotiator

Wells Fargo Loss Mitigation

Subject WF#0148798267, Jeffrey and Cher Czartoryski, 3632 Bottle Brush Ave., Boise, ID 83713

Good Day,

My buyer will raise her offer to $185,400. Not a penny more! This is 94% of the appraised value. There are many reasons your investors should accept this offer.

The Boise market is declining, houses are not selling at Market Value
Your investor only has to pay a 3% commission since I have both sides of the deal, saving your investor $5000.
My buyer did not ask for help with closing costs. Your investor is willing to pay up to 3%. That is another $5000.
Short sales do not sell for market value in any market these days.
Your investor is losing almost $1400/month in lost payments.
Your investor has a bad loan on their books that could be fixed quickly.
I already had one buyer walk when I couldn’t promise a quick sale.
My seller is maintaining the property at the moment (those helping hold the value).
I will probably cannot get an offer at $198,000 until the market improves (which it shows no signs of improving.

There are also humanitarian reasons to settle this deal.

You have made the buyer and seller wait almost 2 months.
My seller is a fine upstanding member of society, he is a school teacher who has fallen on hard times. He is the divorced father of two daughters. Without the second income from his ex-wife , he cannot pay the $1900/month between the two mortgages. He called me when he ran out of savings and realized he couldn’t make the next payment.
My client needs to move on with his life.
The delay caused by the slow negotiation is ruining my clients credit.

Please reconsider our offer . It is a good offer and could be settled

Sincerely,

Deborah Holmes

IndyMac the foreclosure crisis and politics

Debbie Holmes (Gold Key Real Estate) — Sat, 12 Jul 2008 16:41:24 -0500

In my campaign for Congress in Idaho, I have often focused on the foreclosure crisis. Yesterday, the crisis took down the bank IndyMac. As a real estate agent, I had no love for this particular bank but its demise is frightening. This was an example of a bank that specialized in high risk, irresponsible loans. Unfortunately, when banks fail, people suffer. Depositors who have over $100K will lose half of the uninsured value of their deposits. There are less banks available to extend credit. When credit dries up purchases cannot be made. This reduces the number of people who can buy home. This in turn lowers the value of real estate. When real estate lowers in value, foreclosures increase. This in turn reduces property values further.

Why is this so important?

The wealth of most Americans is in their homes. As our homes decline in value so does our wealth. Every time a homeowner loses their home to foreclosure, the American Dream turns into an American Nightmare for another family. Currently, foreclosures are at record high, and there are more and more of these American nightmares. I don't believe that property prices will stabilize until the foreclosure crisis comes to an end. I've seen too many people hurt by the policies that the Republican majority put in place, and I feel I have a duty to fight for economic change. You can count on me to vote to help solve the foreclosure crisis for both the banks and the homeowner, instead of putting my head in the sand.

It's time for a change in how this country is run and how Idaho is represented, but I'll need your help to make a difference. You can donate to the campaign through
ActBlue and you can volunteer with my campaign through my
website. Thank you for your support.

No short sale with Wells fargo

Debbie Holmes (Gold Key Real Estate) — Mon, 16 Jun 2008 21:14:50 -0500

Well today I withdrew the listing until the banks come to terms. I also have the papers signed to send back the buyers earnest money. And get this the negotiator still hasn't called. I am very sad about this. I did every thing I could. Does anyone know of a class action against the Wells Fargo loss mitiagation department? This is the first time I ever had to return earnest money after I had a signed contract. For more details go to

http://activerain.com/blogsview/465002/I-think-I-hate.

It's official I am the Democratic Nominee for CD2 in Idaho

Debbie Holmes (Gold Key Real Estate) — Thu, 29 May 2008 10:32:01 -0500

For anyone who has been wondering... I WON! Now I have to gear up to beat Mike Simpson (or at least try hard) in the fall. My political website is www.debbieholmesforcongress.org. From there you contribute via ActBlue.

Debbie Holmes 68%

David Sneddon 32%

Strange to say I am still showing a few houses despite primary being close....

Debbie Holmes (Gold Key Real Estate) — Mon, 19 May 2008 08:15:51 -0500

It is very odd trying to run a Federal campaign while still working. I have cut down on my work until the primary. I am serving those customers I have but I am prospecting for votes not clients. I actually showed my Caldwell Idaho listing several times. I feel its important to serve my clients. It is strange on May 28 th I will either be gearing up for the November as a candidate for federal office or I will be back to selling houses in a declining market. This is a strange and wondrous time for me. Until I entered this race I never saw myself doing anything extraordinary. This is one of the many things that makes America great, " ordinary citizens doing extraordinary things".

Check out my political website

11 days until the primary.... I wonder what the future brings.....

Debbie Holmes (Gold Key Real Estate) — Fri, 16 May 2008 08:25:40 -0500

Well I am at the end of the primary season in Idaho. In 11 days I will know if I am successful at convincing enough Democrats to vote for me to stay on the Ballot. It has been an interesting time. Not to much real estate but the market is not so good either.

The race for public office has been exilierating. My message is worth listening too. I am a progressive Democrat who want to work on health care, the mortgage and financial crisis, the war in Iraq, education... My opponent has a more conservative (or should I say Republican agenda).

I have traveled throughout my state talking to different people and giving speeches (something I was not sure I could do). I have listened. My message resonates wherever I go. I take my last primary trip this weekend where I travel the areas I haven't campaigned in yet. I feel I have a message and it needs to be heard.

I wonder not only what my country's future is but what my own is. Will I continue travelling the state giving my message of hope and change or will I be selling houses to try to make tuition next year. Either way it was a journey worth taking. I have learned a lot about myself and the people of Idaho.

Well I am off to Bagels with Debbie and a big training session. See you after the primary on May 27th. By the way the foreclosure prevention act is a good bill and shouldn't be vetoed by the President. Urge him to sign the bill into law.

Check out my political website at www.debbieholmesforcongress.org

Congress passes foreclosure prevention act. President threatons veto.

Debbie Holmes (Gold Key Real Estate) — Sun, 11 May 2008 12:11:54 -0500

Today the Congress passed the foreclosure prevention act. This is the first real legislation I have seen that looks to help the American Homeowner who is danger of losing his/her home. It gives money so that the loans can be renegotiated at the current value of the homes. This bill could help 1.5 American families stay in their homes. I was so happy....

But wait.... first all but one democrat voted for the bill... Bill Sali and Mike Simpson Voted against the Bill. I guess that Sali and Simpson do not care about homeowners in trouble. It gets worse....

President Bush threatens to veto this bill!

This is outrageous. We need legislation to heal the crisis for all. The time for action is NOW! Every time an homeowner loses their home waiting for action the American dream has turned into the American nightmare for another family in our country. I am running for the House of Representatives in CD2 of Idaho as a Democrat.

visit me at my political website at http://dhfc.110mb.com/index.html

As a real estate professional it is time to take action! We know that the American homeowner needs help. I urge that you contact your elected representatives and the president. The time for action is now.

Wells Fargo takes 45 days to assign a negotiotor

Debbie Holmes (Gold Key Real Estate) — Wed, 16 Apr 2008 19:05:57 -0500

I have 2 good offers for my short sale at asking price or above. One is an investor the other is a family with a pregnant woman. I submitted my paperwork on Feb 29. They acknowledge receipt on March 12. I faxed it not mailed it. The offers came in this weekend. I was pleased. They both came in low but they inched up. Now that I have offers the bank (edited to to political campaign), Wells Fargo, won't assign me a negotiator. Before they told me they couldn't assign me a negotiator until I had an offer. My client still has credit. He could have gotten out of this with one 30 day late payment. Does anyone have any experience dealing with Wells Fargo. I think they like owning foreclosed property. I think I will call my Congressman even though he is my political opponent.

Another day

Debbie Holmes (Gold Key Real Estate) — Sat, 12 Apr 2008 10:11:04 -0500

I must learn not to talk to banks within 1/2 hour of giving speeches. Talking to banks tires me out. Especially when they are uncooperative. Today the Bottle Brush home in question is going to be shown for a second time twice. Maybe we will get an offer. If the banks were not so annoying I might even feel sorry for them. Maybe an offer would get them to move. Maybe not. Today the paper reported a 37% decline in sales from the first quarter last year with a 7% drop in prices in both Ada and Canyon county. I sort of knew it already. I can see what I need to do to get my listings to sell. Someday the credit crunch will go away. So the plan of the day is to show the house and then help clean up a house of a friend who died in Iraq last week. Maybe I will do a little politicking too.

I think I hate Wells Fargo's loss mitigation department!!!!!!

Debbie Holmes (Gold Key Real Estate) — Fri, 11 Apr 2008 17:44:00 -0500

I have been working on a short sale with Wells Fargo since 2/26/08. I sent the first fax with the completed short sale packet on 2/29. They didn't acknowledge receiving it until I refaxed it on 3/12. I have called weekly asking to be assigned a loss mitigation negotiator. They told me that they would not do anything until I had a offer. Catch 22 is that I won't get an offer until I have the BPO. I have had several people call me up and decide not to offer based on the fact that a BPO was not ordered. On Tuesday I called and told them I must have a BPO or I might have to lower the prise again. The market value is $220K and I have the price at $185K. The person told me that I would have a negotiator by Friday. Today I called early and they said nothing had been done to get a negotiator. The person sent an Email asking for a negotiator. I called later today and their was no response to the Email. They told me these things take time. Its been a month since they received the documents. My client is losing his credit. I asked if things moved any quicker if I had an offer and they said NO. I sort of feel that Wells Fargo would like to own foreclosure property. I am so frustrated today.

ARGGG the Cell phone towers are out in Boise

Debbie Holmes (Gold Key Real Estate) — Thu, 03 Apr 2008 18:18:44 -0500

My cell phone has not been working in Boise today. I know I have calls coming in because I always do these days. Between real estate and campaigning. Makes me wonder what to do about this. What do you do when the cell phone stops working? Maybe it's time for a rest. Trouble is that a lot of my customers also work with via a cell phone.

Yesterday as a campaigner I found out more about Acorn

Debbie Holmes (Gold Key Real Estate) — Sun, 30 Mar 2008 11:17:07 -0500

Acorn is a political organization that is trying to help with the foreclosure crisis. Here is some information I cut from their website:

ACORN, the Association of Community Organizations for Reform Now, is the nation's largest community organization of low- and moderate-income families, working together for social justice and stronger communities.

Since 1970, ACORN has grown to more than 350,000 member families, organized in 850 neighborhood chapters in over 100 cities across the U.S. and in cities in Argentina, Peru, Mexico, the Dominican Republic and Canada.

ACORN's accomplishments include successful campaigns for better housing, schools, neighborhood safety, health care, job conditions, and more.

ACORN members participate in local meetings and actively work on campaigns, elect leadership from the neighborhood level up, and pay the organization's core expenses through membership dues and grassroots fundraisers.

ACORN has constantly challenged the traditional notions of what a community organization is, and its family of organizations includes two radio stations, a voter registration network, a housing corporation, and several publications.

As someone concerned with the credit crunch and the foreclosure crisis I recomend checking this group out. Personally, I have been working hard to solve the problem one house at a time and I need to help the people of Idaho and our Country on a larger scale . That is why I am running for Congress. Anyone who wants to read my platform can at: 43ed state blues. If you feel inclined to contribute to my campaign you can find me on actblue.

I have an offer on my Condo listing!!!! Need advice quick!!!

Debbie Holmes (Gold Key Real Estate) — Sat, 29 Mar 2008 09:14:18 -0500

I have an offer on my Condo listing. It is 10K lower then asking price. It is a short sale. I am debating countering on price but I sort of think I want to let the bank do that. I have only had 4 or 5 showings in 2 months. I am countering on the offer to be subject to short sale with the bank, seller and buyer agreeing to the terms. I am worried because I don't know if the bank is giving a judgment or 1099 or something in between (that is part of my negotiation with the bank). The bank wouldn't give me an answer until I had an offer. I think I should just tell my client to take the offer to start negotiations. Also I really want my title officer since she is really good with short sales and has opened title. What do you think?

Running for Congress and selling houses is keeping me too busy to blog....

Debbie Holmes (Gold Key Real Estate) — Fri, 28 Mar 2008 07:46:06 -0500

It seems my business picked up as soon as I declared my candidacy for Congress here in District 2 of Idaho. I also took a mini vacation for a cousin's wedding. I think that the business is unrelated to my run for higher office, since the run is not well publicized yet. The other agents tell me they seem busier too. I may have to narrow my work to Ada county until the run is over. I can't believe I haven't been on for over a week. I am blogging on political forums. So far like real estate, it is important that my candidacy is made public. I guess this post is mostly to say Hi! I'm still here!!!

Today I have been a parent 21 years!!!! Happy Birthday Jesse!!!!!Happy St. Patricks day for the rest!!!

Debbie Holmes (Gold Key Real Estate) — Mon, 17 Mar 2008 12:47:43 -0500

Today I realized that my eldest son Jesse is 21 today. Yes, he is a St. Patrick's day baby!!!!! The delivery room was very busy that day. I have a Jewish Leprechaun. A little later it dawned on me that meant I had been a parent for 21 years. That is a little mind boggling. It seems just yesterday that he was born. Today he is a very self assured junior in College. It is amazing how fast life passes one by. Well I am not a drinker, nor is Jesse but I guess I should offer to stand him a beer!!!!!! Jesse is one of the three reasons I sell real estate!!!!

I am frightened that the house of cards will fall down......

Debbie Holmes (Gold Key Real Estate) — Mon, 17 Mar 2008 07:41:08 -0500

Last night in an already tense market some major changes happened. A major investment bank had to be bailed out and sold at a fire sale. Investors lost huge amounts of money as a stock that traded for $30/share (and was up to $171 sometime last year) was sold at $2 /share. The fed is giving or lending Morgan Stanley the money to do this.

The fed also lowered a key interest rate on a Sunday.....

All this while I sat in an open house contemplating a run for Congress.

I have a knee jerk reaction to tell my clients to lower there prices 10% now..... I fear the house of cards are falling down and may take years to recover..... Either the Feds are panicking or we are in even deeper trouble than I thought we were. I question whether the Bush administration has the people and the know how to handle a financial crises. Before, I figured we could probably hole out until we had a new President (either, Obama, Clinton, or McCain). Yes I am a Democrat but I figure any of these people will surround themselves with competent people that will rein in the irresponsible speculators who first ruined the internet stocks and then the housing market and finally it looks like the GLOBAL ECONOMY!!!!! Today I feel frightened as if someone is holding a gun to my head. My heart is racing, and I feel shaky. The $ is low and oil is high..... Americans are struggling to pay the bills....

How are you going to spend your government handout? I will be paying down a credit card that I used for college tuition. I had to put a large sum of money on a credit card due to the slow housing market.....

What do you think?

Edit 8:18 mountain time (that is 10:18 eastern) the dow is not down sharply!!!!!! It is only down 70. Europe and Asia faired much worse with steep drops. Lets hope the stock market can hold its own....

One year after the inspection........

Debbie Holmes (Gold Key Real Estate) — Sun, 16 Mar 2008 22:55:07 -0500

I often become friends with my clients. My second clients bought a home that had updated electrical. We had the house inspected and he detailed a lot of things (mostly trivial). What the inspector failed to notice was that the wire to the circuit breaker was just wrapped around the screw. Over time (or maybe earlier) this came lose and heated up the circuit (I guess it arced). Last night at temple they told me this story. Luckily the damage was fixed my an electrician changing the circuit but I know the house had been inspect twice in short order.... My clients also had some electrical work done on the house when they purchased it (not the circuit breakers). My question is..... Why didn't our inspector or the sellers inspector pick this up? It is beyond my competence to examine the circuits... That is why I have my buyers higher home inspectors.

OPEN HOUSE WEEKEND- To participate or not?

Debbie Holmes (Gold Key Real Estate) — Sun, 16 Mar 2008 10:17:26 -0500

The Idaho Statesman is hosting an open house weekend this weekend. For $40 you can participate. You are put in a directory (but not given an ad) and can compete with all the other agents participating. Two of the agents in my office are participating. I chose not to. I will host a normal open house on 1408 Dearborn St. but I chose not to participate in the gimmick. I feel that this could be useful for houses in new developments.

For me I would be committing to sitting in a house not one day but two days.
Competing against all the other agents who participated.
Be unable to show houses and do other business.
Give the Statesman even more money.
I felt they were giving the same service that they normally give for $20 for $40.
Wouldn't increase traffic to my listings.
I would have to pick which of my listings got the special treatment.
Felt this was a way for the Statesman to increase revenue and making us run around in circles.

On Tuesday, in our office meeting, I intend to ask my office mates how they felt this publicity stunt worked. What do you think?

I wonder how to get free to cheap domain names!!!

Debbie Holmes (Gold Key Real Estate) — Fri, 14 Mar 2008 23:43:30 -0500

It occurs to me that I probably need more websites for the political aspect of my life. My real estate website is not appropriate for a political run. I forgot how I signed up for www.debbieholmes.net. I think my son did this for me. This website probably needs a domain name. Does anyone remember how they got their domain names?

My first day as a Canditate.........

Debbie Holmes (Gold Key Real Estate) — Fri, 14 Mar 2008 09:45:33 -0500

Today, as usual, I come downstairs to check my Email, check my blog and check my webpages. The only thing that is different, and its a big difference, is my decision to try to get on the ballot for the SECOND CONGRESSIONAL DISTRICT OF THE GREAT STATE OF IDAHO. So how do I plan my day? The first thing I need to do is to try either to collect signatures or to pay $300 to get on the primary ballot. I feel that we should have to get signatures because if you can't get at least 500 people willing to sign your petition to be on the ballot you shouldn't be able to run for office. Yet, I could organize my platform, network, maybe sell a house...... I could make a lot more use of this time..... I actually think this law should be changed but I might take advantage of the ability to get out of collecting signatures. I wonder if the party would sponsor the $300? I probably also need to firm up my platform, positions and sound bites... I need to work so that I have can pay the tuition bill in August..... All these choices on what to do today.....

So it is 7:45 am and I have a whole day ahead of me..... I wonder how the offer I wrote on the expensive house in Eagle, Idaho will go.... Will anyone call on my listings today? ... Will it be easy to get signatures?..... Will a more qualified candidate come forth for office?,,, My brother already made a DEBBIE HOLMES FOR CONGRESS facebook page. Sort of cool isn't it? I have invited my facebook friends to join.... I need to get speech lessons if I don't want to be creamed on the debate and campaign trail... The party should at least know how to run a campaign. I know that this day will end in Synagogue, where I will tell my friends and fellow congragant of my decision... So here is my first real day as taking on both jobs...... Not to mention wife and mother......

So far, even if by some miraculous event I make it to Congress, the best and most important task granted me is the stewardship over my three children. It is one of those children who suggested I run and said he would help. I wish he were old enough to run for office..... So day one of my duel career......

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