Robin's blog: real estate, Texas, organic gardening, wildlife, photos, and lots more

Hay, wear is that thing cauld spell check? Eye kneed too yews it.

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Mon, 09 Nov 2009 18:01:28 -0600

Okay, I don't mean to be mean (I love homonyms!), but this listing agent could use some help. Spell checking the remarks on the MLS would be a good start.

Agent Remarks: From Main make turn on Maple to the end. who know quality will love it. Owners live here for 13 years and enjoy this home seet pleashure who know quality will love to have it this majestic home.

Remarks: Costum home on N. Central area, OWNER WILL FINANCE WITH 30 % DAWN exelent location is 4-2-2 the 4 BR is an office an is on first floor ideal, home for professionals who work from home, this home has open areas with magestic woof stairs, nice family room and big kitchen with 42" cabinets, biuld in oven, islan kitchen and granite counter tops,2 livings plus game room, 2 dining, 2 C. Garages + 8 parking spacies

Note: Street names changed to protect the guilty. The house has been listed with the same agent for 479 days. A couple of the other listings have been on the market even longer.

Here's another one:

ALL YOUR DREAME ARE REALITY ON THIS BEATIFUL HOME HAS 5 BR WITH MASTER DAWN 4 UP STEAIRS WITH ANOTHER BIG SIZE ROOM CAN BE ANOTHER MASTER WITH 4 WALKING CLOSETS OR MAKE A TEATER AND EACH BEDROOM HAS WALKING CLOSETS FIRE PLEASE, NICE ENTRY WITH CEALING TO SECOND FLOOR, FORMAL LIVING W/DINING CONVINATION GREAT KITCHEN WITH DISWASHER AND REAL WOOD KITCHEN GABINETS

Do the sellers know that their homes are being advertised on the MLS like this? Yeesh.

Some recent posts:

Speechless Sunday: Guess who I went home with last night?!

Alamo Heights: a great place to live in San Antonio, Texas

The San Antonio housing market is tilted towards buyers -- and sellers

Terrell Hills: a great place to live in San Antonio, Texas

Bad MLS photos: come on, agents, would it kill you to use a flash?

Friday's Fotos: an often overlooked insect on a delicious plant

Fed up with real estate? Want to make big money working from home? Check it out!

Friday fun! Advertising a listing on the MLS with lots of--okay, four--photos

A sad comment on our industry: another Realtor attempts celebrity estate hoax

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

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Barrington Illinois Short Sales - Tips for Sellers - Dual Agency - Advisable or Not?

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Sun, 08 Nov 2009 17:20:20 -0600

Corinne has an excellent series about the pitfalls of short sales. Just thinking about this particular scenario, dual agency, gives me chills.

Take it away, Corinne!

Via Corinne Guest. Barrington IL Real Estate - Broker - Listing Agent - Luxury Homes (Royal Advocate Realty-Realtor-REO-Short Sales ):

Barrington Illinois Short Sales - Tips for Sellers - Dual Agency - Advisable or Not?

In my first short sale blog this month we talked about Pricing Your Short Sale Listing in Barrington IL.
Then I discussed Advertising Short Sales and how they deserve more effort than some may care to give.

Now we are going to move on to perhaps what may be a critical decision, Dual Agency.

Definition of Dual Agency: Licensed agent acting on behalf of the seller and buyer of the same property.

First lets see what a Realtor can do for both the buyer and a seller in any dual agency situation. I am specifically addressing sales so have excluded verbiage related to leasing.

Treat all clients honestly

Provide information about a property to a buyer.

Disclose all latent material defects in the property that are known to the licensee.

Disclose financial qualification of the buyer to the seller.

Explain real estate terms.

Help the buyer arrancge a home inspection.

Explain closing costs and procedures.

Help the buyers compare financing alternatives.

Provide information about comparable properties that have sold so that both seller and buyer may make educated decisions on what price to accprt or offer.

Now let's se what a Realtor cannot disclose to clients when acting as a dual agent.

Confidential information that Licensee may know about a client without that clients permission.

The price the seller will take other than the listing price without the permission of the seller.

The price the buyer is willing to pay without the permission of the buyer.

A recommended or suggested price the buyer should offer.

A recommended or suggested price the seller should counter or accept.

These points should be explained to any buyer or seller when they list a property for sale and at the time a buyer wants to buy any property. In any real estate transaction this should be seriously considered and discussed so both parties fully understand the points. Now we will consider this in relation to short sales in Barrington Illinois and any other areas.

As the listing agent I am going to discuss with a seller pricing of the property based on comparables and condition of property, and add to that my knowledge of how short sales work and what is likely to be accepted by a bank. We will talk about how to deal with all offers that come in especially with regard to price and "low ball" offers. My job is to price to get a buyer and then have that offer approved by the lender/s.

So think ahead to an offer coming in where I am also the buyers agent. The buyer cannot ask me what to offer, he has to make his own decision in regards to price. I present this offer to the seller who also cannot ask me whether he should accept the offer in regards to price. Who in this situation is the only person that can advise the seller? You've got it, the listing agent..

Here is an example. Let us say the property is listed at $250,000. A buyer comes along and wants to buy. I show him the comp sales and he decides based on what he sees and his knowledge of short sales that he is going to make an offer of $99000. (Yes folks that's $150,000 less than asking price). I have not been able to advise the buyer what he should offer if he is truly interested in buying or why his low offer is unlikely to get accepted. I take the offer to the seller, who needs advice, how on earth can the seller make an informed decision about whether to accept the offer and send it to the bank for approval when I cannot help them. Let's now say the seller decides to take the offer and send it to the bank. The property is flagged as under contract and the showings are likely to stop cold.

Not only have I not acted in the best interests of the buyer or the seller, I am now also a fool, because I know the bank are most likely to say NO! So as you can see Dual Agency for short sales are not advised. It is a situation that requires more input from an agent than a normal sale.

Short Sales = No Dual Agency

So if you have to list your home as a short sale, consider dual agency and how it works. It clearly is not in your best interests. If your listing agent happens to find a buyer for you, don't be concerned, we all have agents we have worked with before or in our office that can step in and represent the buyer.

I help sellers with short sales in other areas in addition to Barrington. Lake Zurich, Hawthorn Woods, Kildeer, Long Grove, Deerfield, Inverness, Deer Park, Cary, Algonquin, Lake In The Hills, Fox River Grove, Schaumburg, Palatine, Hoffman Estates, Arlington Heights, Rolling Meadows, Buffalo Grove, Wauconda, Island Lake are just some of the suburbs I will help clients with short sales. Whether you have a condo or a luxury home, if a short sale is what you need, call me for a free consultation.

The next short sale tip will talk about what to do with offers.

*************************************************************************

Search all properties at http//www.realestateinbarrington.com

Contact Corinne Guest ABR, e-PRO, GRI, Broker, Royal Advocate Realty Licensed Realtor® in Illinois, 847-381-6328 to list your property for sale or to buy a property in Barrington, Lake Barrington, North Barrington, South Barrington, Barrington Hills, Inverness and Deer Park, as well as Lake Zurich, Hawthorn Woods, Kildeer and Long Grove in Lake County Illinois.

Call me today at 847-363-3686.

Copyright © 2009 By Corinne Guest, All Rights Reserved. Barrington Illinois Short Sales - Tips for Sellers - Dual Agency - Advisable or Not?
Corinne Guest
Broker/Owner
Royal Advocate Realty
Barrington, IL, 60010.
Cell: 847-363-3686
Direct Fax: 847-381-1413
email: info@corinneguest.com
www.realestateinbarrington.com

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

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Speechless Sunday: photos from my holiday in Crete

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Sun, 08 Nov 2009 15:54:02 -0600

I finally cracked yesterday and set up a Facebook account. I was going through my old photos to populate my wall with them, and found these. The first one seemed appropriate for today. It's a roadside shrine in the mountains of Crete. I had a great vacation in Crete and would like to go back some day and explore further.

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

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WE'RE FROM THE GOVERNMENT AND WE'RE HERE TO HELP - - ALL WE WANT IS YOUR MONEY AND YOUR HOME . . . . A RANT!!

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Fri, 06 Nov 2009 08:54:04 -0600

Lenn always watches out for consumers, home owners, and tax payers.

Hey, wait a minute--that's us!

Via Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate:

WE'RE FROM THE GOVERNMENT AND WE'RE HERE TO HELP. . .

ALL WE WANT IS YOUR MONEY AND YOUR HOME!!

* * * * HARD CORE REAL ESTATE TALK * * * *

The new Fannie Mae program to "help" home owners in trouble is, IMO, the biggest fraud to come from the government in recent memory and there have been, IMO, a serial bombardment of government perpetrated frauds on the American home owner in the past year.

Trademarked the Deed For Lease, or D4L, a reading of the guidelines for this program along with the concomitant Deed In Lieu of foreclosure guidelines, the bottom line of the result of these programs, whether intended or not is: THE HOME OWNER LOSES THE HOME.



"Honey, did the government agree to help us keep our home?"

"Not exactly Dear, but the government says that they might agree to take our home and let us rent it for a year. They'll let us know after a credit review, but there are a few things. . . . . "

NOT ALL BORROWERS WILL BE ELIGIBLE.  The guidelines require that the borrowers (home owner) agree to certain occupancy rules, not unreasonable on first reading. However, some of the details will limit elegibility, such as:

Marketable title is able to be conveyed (a title insurance policy is required).

If there are subordinate liens secured against the subject, lien releases can be obtained.

1. Everyone has title insurance, don't they?? Sounds simple enough, right?  Perhaps, perhaps not.  Title insurance policies are always a condition of a mortgage loan. However, they are optional for a borrower.  Over the years, I have spoken with many home owners who did not obtain title insurance for their property, often at the advice of their agent. Go figure.

2.  What might that subordinate lien be?

Subordinate Lien: Subordinate-loan. mortgage whose priority is below that of another mortgage, like a second or third mortgage or a home-equity loan.

Could it be a HELOC or simple Second Trust? During the years that FannieMae pushed, yes pushed and purchased the Alt-A loan and the numerous Sub-Prime loans, a plethora of subordinate liens were created and used. Often created at the time of purchase or later through subsequent borrowing against equity or refinance. The funding sources, often private investors, made these loans and recorded a proper lien in good faith based on the qualifications of the borrower at the time. Second Trust Notes are a commodity. They are traded, discounted, bundled and traded again and again. Sooner or later, someone is going to want to collect on that note. What's the incentive for the second trust holder to release? Recent experiences with Short Sales would indicate that second trust holders are becoming quite recalcitrant when asked to release a second trust note.

Second mortgage: A mortgage obtained by a home owner for a loan against equity or in excess of market value (often up to 125% of market value). The second, or third mortgage is subordinate to the first or primary mortgage.

WHY DID FANNIE MAE MAKE RELEASE OF ANY SUBORDINATE LIENS A CONDITION OF THE D4L (Deed For Lease)? Is this condition of the D4L the usual "government guideline glitch" tossed in to decrease the numbers of borrowers who would qualify? Or, is it simply a reflection of the "guideline stew" that can usualy be used to describe any of the government program to help home owners in trouble that have been promulgated in the past two years?

WHY ARE HOME OWNERS IN TROUBLE ALWAYS SUBJECT TO LOSS OF THEIR HOME? The American home owner isn't looking for a handout ala TARP, created to help banks in trouble to the tune of about a $Trillion Dollars, give or take a few $Billion Dollars.

TARP: Troubled Asset Relief Program (TARP) Information.   The operative word to describe TARP is "Relief". Where is the "relief" for the troubled American Home Owner??? The banks qualifying for TARP got into trouble by trading in securities that were primarily backed by sub-prime mortgages, often mortgages that should not have been written. The mortgage instruments were then bundled, converted to marketable securities, MBS,and sold to investors in the USA and around the world. Investors clamored for more, more, more of these wonderful securities. Fannie Mae and mortgage investors created more and more and more such instruments secured by the primary residences of American Home Owners.

O.K. SO WE GET IT. The government was there to help the Wall Street and Main Street banks that invested in and sold the MBSs to the tune of multi-Billions of Dollars of tax payer money.

FAST FORWARD TO 2009 and THE FANNIE MAE, HUD and any government program to help distressed American Home Owners. The one theme that is pervasive is that THE HOME OWNER LOSES THEIR HOME.

MORTGAGE MODIFICATION IS A JOKE.   The programs designed by HUD and Fannie Mae may do one of several things.

They may REFINANCE your loan to a lower interest rate. The home owner still owes far more than the market value of the home and will probably not be able to sell for many, many years.

They may MODIFY your loan to a lower monthly payment. The home owner still owes far more than the market value of the home and will probably not be able to sell for many, many years.

Is it any wonder that, to date, the government programs to "help"the American Home Owners have failed?

THE INSIDIOUS NEGATIVE EQUITY. The only true mortgage modification that would help the American Home Owner would be a REDUCTION OF THE PRINCIPLE BALANCE of THE MORTGAGE. Is there any government backed, financed, promulgated or regulated program to reduce the principle balance of mortgage loans secured by home owned by distressed home owners?? NO.

The government now says, through Fannie Mae, that if you own a home that is not FHA, VA, etc. financed or insured, the government may take your home and rent it back to you for 12 months. No doubt the government will find some way of spending more tax money to create a new program to market these "assets" that were formally HOMES.

For folks who hold the opinion that the American Home Owner doesn't deserve any help to keep their home, after all, they signed a contract, didn't they, it's an opinion that has my respect.  However, what was the opinion of the same folks when the government gave Wall Street and the Big Banks a $Trillion Dollars or more??? Oh, I forgot. The government didn't ask for our opinion. That was the biggest "cram down" in history. I propose that a "cram down" for American Home Owners is long overdue.

One thing for sure. I believe that the American Home Owner would be a better partner in saving the American economy than the average Wall Street Investment Bank or Big Bank. The American Home Owners will again become a consumer. They will buy and sell real estate. They will go to the mall. They will take vacation. They will help the national economy. What did the Wall Street Gangs do with the $Trillions of tax money handed to them through TARP?

Later.

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

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Speechless Sunday: Guess who I went home with last night?!

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Sun, 01 Nov 2009 09:56:02 -0600

I went to a star-studded Halloween party last night. And who should I run into but this famous celebrity? He reminisced a lot about New York and Miami. Then after intoning one-liners all night long, he finally told me with a deadpan face that he wanted me to take him home.

So I said okay.

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

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Alamo Heights: a great place to live in San Antonio, Texas

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Wed, 28 Oct 2009 18:04:35 -0500

Alamo Heights is a close-in subdivision in the north-central area of San Antonio, Texas, located south of Loop 410 and just north of downtown. It is an incorporated city in Bexar County, which includes the San Antonio metro area.

The bungalow-style home to the right is typical of the "Cottage District"; it recently sold for $320,000

The neighborhood is convenient to shopping, several good restaurants, parks, such as Brackenridge Park and the San Antonio Zoo, the Witte children's museum and McNay art museum, and numerous retail centers. There are many small service businesses and restaurants located on the main thoroughfare, Broadway. Trinity University and the University of the Incarnate Word are nearby.

The location close to Highway 281 is convenient for commuting to the rest of the city. Alamo Heights is also situated close to Fort Sam Houston and Brooke Army Medical Center, one of the area's largest employers.

The 3,800-square-foot home to the left was constructed in 1912 and sold recently for $750,000

The Alamo Heights Independent School District is considered the most prestigious school district in San Antonio. Neighborhood development began in the 1920s, thus, many of the homes are set on pier-and-beam foundations, while newer ones are on concrete slabs. There is a large range of prices and styles.

Some of the homes have swimming pools, but many are situated on city lots under 0.17 acre in size and were not built with parking areas; thus, the yards are too small for pools. Most of the homes have been remodeled and updated, except for many smaller bungalows and homes in the "Cottage District" of Alamo Heights. There are a few large homes built from the late 1990s up to 2008 on infill lots, but tear-downs are rare.

And as you can probably tell, Alamo Heights is another of my favorite neighborhoods!

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

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Wordless Wednesday: enchanting landscapes

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Wed, 28 Oct 2009 11:20:46 -0500

When our friend Andrea came to visit from Italy, we drove to Santa Fe. On our last day there before heading back home to Texas, we visited the Puye cliff dwellings and drove around and through Chimayo. The amazing scenery made me think back to how when we crossed the state line, we had been chuckling at the license-plate motto: "New Mexico, Land of Enchantment."

Well, after a couple of days in New Mexico, I fell under its spell, too.

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

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are you an out of state or out of country investor

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Wed, 28 Oct 2009 08:47:26 -0500

The low low low asking prices of real estate in Detroit are well-known. Plus, TIME magazine is focusing on the city as part of a year-long study, so more investors are becoming aware of the city as a long-term investment possibility.

Russ has some valuable advice for them in his post:

Via Russ Ravary - Michigan Homes for sale - Michigan Real estate & Mortgage info (Remerica Hometown One):

and have a few thousand bucks to invest. But is Detroit the place to invest your money? Sure you may have never heard of such low home prices. Yes homes in your country or state may be much higher. In fact they may be hundred of thousands of dollars higher. But just because a home is $500 or $1000 or $10,000 doesn't mean it is a bargain.

What will be your return on investment?

what will be your downside?

what will it cost to bring up to code or to saleable condition?

what is Detroit and rental market like?

what will it take for your investment to be worth more money?

what are local professional investors doing in the City of Detroit.

I myself would not buy investment homes in the City of Detroit. I would put my families or friend's money there either. I don't know of any investors that have done well in the City of Detroit. In the suburbs yes, but not in the city.

I have to be a little more specific why not to buy in Detroit

poor school system in the city of Detroit. Nobody will want to move to Detroit from the suburbs because the school system is so bad and unsafe for their kids.

High crime statistics

High home and car insurance rates

Poor city services in my opinion

high property taxes - they could be as high as $3000 for that $500 property - hard to get the high property taxes reduced.

Detroit is unfriendly for investors and property managers - hard to evict and landlord is responsible for people leaving cars or dumping garbage or leaving personal property to be removed. have to board up the house when vacant.

when home is vacant very likely the furnace, the copper plumbing, and the hot water heater will be stolen. Anything valuable has a chance of "walking" how will an out of town investor know when the tenant is gone?

too many great investment homes in the suburbs which will give a better return on investment. Sure not $500 but you'll still have a home intact when it is vacant

My advice buy in a city that the homes will increase in value quicker. Call me if you want to know what makes a good investment home.
May life treat you and your family well today.

Russ Ravary your Metro Detroit real estate agent

Metro Detroit real estate and relocation information website

Oakland County Lake front homes and Livingston County waterfront real estate information website

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

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HOW TO GET THE MOST OUT OF YOUR CONVENTION

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Sun, 25 Oct 2009 15:18:31 -0500

This is a very useful post from Donna! I'm going to the NAR convention for the first time in San Diego, and I appreciate her helpful tips on how to make the most of it.

Via Donna J Stephens (Prudential Ambassador Real Estate Co.):

I have been to Nebraska State Conventions, National Association of REALTORS® Conventions, CRS Sellabrations®, and Prudential's Conventions. I was on the committee that plans the Nebraska REALTORS® Convention for several years and Chaired the Committee in 2001. (Nebraska hosts over 800 REALTORS® at their convention. The cost of the convention is figured in our Association dues and is free to the members who pre-register and attend.)

As with most things in life, it's up to you to find value in attending a convention. You get to choose how to spend your time. I will tell you how I plan ahead for conventions and how I have made the most of my time at them.

First you select the convention you want to attend. If you sign up early you can usually save lots of money. You can also save money by watching the airline fares and buying your ticket when rates are down. Another way to save money is to find a quality hotel near the convention hotel. I like to attend with REALTOR® girl friends and share the cost of the room. Besides it's more fun when you have someone to laugh with.

When I get the schedule for the convention I go through it with a fine tooth comb. I like to use a highlighter and select the classes, instructors, WCR and CRS meetings, meals, and parties that most interest me. I seek advise from seasoned REALTORS® so I don't miss out on anything exceptional. For instance, seasoned REALTORS® know the best parties and how to get a ticket, like certain banks or CRS parties at National Convention. They know the extraordinary instructors and popular classes to take. If they have been to that city they will coach you on touristy stuff.

After I select the events that most interest me I sit down with my calendar and see how many of them I can fit into it. Some things will conflict and I will have to choose. It's so much easier to plan this ahead of time! If I am visiting a new city, I plan tourist time. When I went to Washington DC for the first time I planned a couple extra days to see the city. I usually take a kazillion photos. Okay, now you need to add camera and batteries to your list of things to take.

Watch for some classes that may be offered prior to the scheduled convention dates. Often a one or two day course for CRS is offered in advance of the convention. These cost extra, in my opinion, because they are worth it. If you are interested in getting your CRS designation you may want to plan to go early and attend these classes. Again, this takes planning ahead!

There are many things to do that are included in your convention registration fee. Conventions offer generous vendors displaying their wares, offering expert advise and giving away hundreds, if not thousands, of dollars worth of prizes in drawings. TAKE LOTS OF BUSINESS CARDS! Drop them in the fishbowls/baskets for the drawings. You can't win if you don't enter! My cousin/real estate partner, Marlene, won a television while at the CRS Sellabration® in Hawaii in 2008!

I have found conventions useful in quality and selection of classes. You will find free/included courses on technology, forclosures, buyers, sellers, you name it, it can probably be found. Here's the link for the National Convention. Check it out!

To get the most out of networking at convention, I plan a small gift with my business card to pass out to REALTORS® that I personally meet. One year I took a Dumdum sucker and put a tag on it that said something like, "Don't be a Dumdum, call Donna with your referrals" and my card was attached. Another time I had a friend make fishing flies and my note said, "Cast your referrals to Donna". Go to lunches, meetings, classes and always sit with people you don't know. Meet new people and pass out your cards. Tell them about your business and ask about theirs. Meeting new people with similar interests is fun! Networking brings you business. Referrals are great! It's awesome to send referrals to people you have met!

CONVENTION TRIPS ARE TAX DEDUCTABLE! TALK TO YOUR TAX GUY!

Most important Things to take with you:

COMFORTABLE SHOES FOR WALKING!

CAMERA & BATTERIES

A COUPLE HUNDRED BUSINESS CARDS

Yes there is value in attending a convention.

It takes some planning ahead and using your plan once you get there.
"I am never too busy for you or your referrals!"

Donna J Stephens, CRS, GRI

Prudential Ambassador Real Estate, 13340 California Street Omaha, NE 68154

(402) 598-5117

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

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Speechless Sunday: a hummingbird moth found on my first morning in Santa Fe

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Sun, 25 Oct 2009 14:48:13 -0500

You all know how I feel about hummingbird moths. Or maybe you don't! If that's the case, here are some links to my previous posts about these unique moths:

Hummingbird moth

The hummingbird moths are back in my garden - and in someone else's

Hummingbird moth entertains visitors to the Big Apple

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

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The San Antonio housing market is tilted towards buyers -- and sellers

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Sun, 25 Oct 2009 09:49:00 -0500

San Antonio recorded 1,561 single-family home sales in September, according to the San Antonio Board of Realtors. That's a 2 percent decrease from the total for September 2008. Pending home sales in September numbered 1,494. That's about 11 percent more than at the same time in 2008.

There is an 8-month supply of homes on the market this fall in San Antonio, declared the Board of Realtors. Prices have remained stable, around the $151,000 median at the same time in 2008. The market is considered slightly better for buyers than sellers, and a hot July and August market showed that first-time buyers in particular were purchasing homes and taking advantage of the tax credit. Homes priced lower than $200,000 were the best-selling.

In the last 30 days, according to MLS statistics, 644- three-bedroom single-family homes sold for an average price of $139,400 in Bexar County.

Four-bedroom homes, numbering 295, sold for an average price of $212,200. The average time on the market for these two major segments of the real estate market was around four months.

To the left is an "average" 3-bedroom according to the MLS, and below is an average 4-bedroom. Actually, they are both above average in that their time on the market was significantly less than the average.

These numbers right off the MLS paint a slightly different picture than the broad-brush view, since statistics vary wildly by neighborhood, price range, and area of the rather large San Antonio metro. A balanced market is considered to be one in which there is a 6-month supply of inventory. These MLS numbers don't include many new homes, of course.

Average numbers obviously don't tell the whole story, although they give us a good overview. And home buyers want a home that is above average, anyway!

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

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Debt To Income Changes Announced Today, This Is Urgent

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Fri, 23 Oct 2009 16:42:52 -0500

Melissa has some news we should all know about, since so many mortgage loans are being insured by FHA these days.

Via Melissa Kulikoff (Texas Loan Officer):

Debt to income ratio maximums are being changed for FHA effective today. All loans with Debt Ratios that exceed 50% must fund by 11/30/2009. These loans must also be locked by November 1st. If they do not fund, no lock extensions will be granted.

The debt to income ratio is the percentage of the borrowers gross income that goes towards their mortgage payment and other debts. In the past, we were able to close FHA loans with ratios at 55% and higher, rarely over 60%.

I urge you to contact your loan officer and find out what their policy is. This is also going to cause another wave of applicants with higher ratios scrambling to close by 11/30 regardless of whether they are a first time home buyer or not. Some banks may allow you to go a few days past the deadline, but not mine.

I also heard that Conventional debt to income ratios are going to be limited to 45% regardless of down payment in December. Right now, with 20% down on a Conventional loans we can exceed 55% with strong credit.

I hate to be the bearer of bad news, but I rather be the first one out to notify my AR friends.

As always, please feel free to contact me with comments or questions regarding this post.

Melissa Kulikoff
Texas Loan Officer

Residential Lending Services
cell: 210-849-9030
email: melissa@mkulikoff.com
For Home Loan Information

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

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Terrell Hills: a great place to live in San Antonio, Texas

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Thu, 22 Oct 2009 18:40:45 -0500

I have lots of favorite neighborhoods. Terrell Hills is one of them. It's not only a neighborhood, it's an incorporated city, located north of downtown and west of Fort Sam Houston. My favorite neighborhoods have one thing in common: lots of trees. The homes in Terrell Hills have trees and a lot of character, varying quite a bit in architectural style, size, and price. Most of the homes range from the high $200,000s to the $600,000s.

To the left is a cottage-style three-bedroom home with a covered patio and detached garage that sold for just under $200,000

The neighborhood includes two school districts: Alamo Heights Independent School District and North East Independent School District. There is not a huge difference in home prices between the two school districts, although Alamo Heights ISD is more prestigious.

Large lots are the norm in Terrell Hills, averaging at least 0.25 acre, and dotted with mature live oaks, pecans, and mesquites. The older homes have pier-and-beam foundations, while those built in the 1960s and later tend to be on concrete slabs.

On the right is an updated and expanded four-bedroom, four-bath home with swimming pool that sold in the $650,000 range

There is a wide range of home prices, from "tear-downs" to some of San Antonio's most expensive mansions. Many of the homes have swimming pools. Most of the homes have been remodeled and updated, but the interiors might still be considered out of date because of lower ceilings and more interior walls than are used today. Others are larger homes built from the late 1990s up to the present on lots from which the original homes have been removed.

Whenever I am near Fort Sam Houston, Brackenridge Park or the zoo, or heading south from downtown, I like to take a detour through Terrell Hills.

Some recent posts:

Bad MLS photos: come on, agents, would it kill you to use a flash?

Friday's Fotos: an often overlooked insect on a delicious plant

Speechless Sunday: another strange being appears in my garden in Cibolo - Schertz, Texas

Fed up with real estate? Want to make big money working from home? Check it out!

Friday fun! Advertising a listing on the MLS with lots of--okay, four--photos

Did President Obama deserve to win the Nobel Peace Prize?

A sad comment on our industry: another Realtor attempts celebrity estate hoax

After the rains - what appeared in our garden in Cibolo - Schertz, Texas

My roof is leaking, and more rain is on the way to the Cibolo - Schertz area

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

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Life Before ActiveRain...And Now!!! What a Long Strange Trip It's Been!

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Wed, 21 Oct 2009 18:24:37 -0500

Craig's journey speaks to all of us 'Rainers. From a hopeless/homeless person on the mean streets to a high-flying top producer, he shows what you can accomplish with a can-do attitude, stick-to-it-iveness, and some ace Photoshop skills.

All he needs to do now is modify the seats in the Craigster-1 and the sky is the limit!

Read his heartfelt, lavishly illustrated story and just try to keep a straight face the tears back.

Via Craig Rutman North Carolina (Raleigh Area) Realtor (Home Buyer and Seller Specialist):

Before ActiveRain I was just another starving Realtor looking for a listing in all the wrong places….

As I started making friends here in the Rain, I grew my referral base and got my first listing referral…..

Then, before I knew it, I had over 100 subscribers, lots of new friends and referral partners, and my business grew and grew.

It was then that I traded in my old car…

… for a new one…

I was even able to afford the Craigster-1 with all the business I was getting from my efforts here in ActiveRain…

Now, I’m happy, fat and content….

All because of ActiveRain!

About The Author
Craig Rutman is a North Carolina Residential Real Estate Specialist that can assist you with the purchase and/or sale of real estate in the Raleigh - Cary – Apex metro areas; or any place else in the country by connecting you with a relocation professional in your destination of choice.

To find all available homes for sale in the Triangle area of North Carolina, please visit www.justnchomes.com

Call me TODAY at 919-349-9530
Email me with your Raleigh - Cary – Apex area questions

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

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Bad MLS photos: come on, agents, would it kill you to use a flash?

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Mon, 19 Oct 2009 17:48:27 -0500

Recently, I have been on the hunt for a third rental property for one client and the next home for another client to remodel. In the process, I have looked at literally hundreds of listings on the MLS. And in more than a few, I have found photos that raised more questions than they answered.

How about a nice gloomy bubble bath?

Can't you just imagine the kids playing out here? Maybe they already are, but you just can't see them.

It's past their bedtime anyway.





This photo to the right of what might be a fireplace in what might be a living room is the actual size on the MLS.

But it's humongous compared to the one below, which the copyright information can't even fit on. I think it's a photo of a kitchen.

Maybe it's a kitchen in a birdhouse!

Some recent posts:

Friday's Fotos: an often overlooked insect on a delicious plant

Speechless Sunday: another strange being appears in my garden in Cibolo - Schertz, Texas

Fed up with real estate? Want to make big money working from home? Check it out!

Friday fun! Advertising a listing on the MLS with lots of--okay, four--photos

Did President Obama deserve to win the Nobel Peace Prize?

A sad comment on our industry: another Realtor attempts celebrity estate hoax

After the rains - what appeared in our garden in Cibolo - Schertz, Texas

My roof is leaking, and more rain is on the way to the Cibolo - Schertz area

Dollhouse is back! Good stuff to watch on TV

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

Why not subscribe to this lovely blog?

IS YOUR LANDLORD MAKING THEIR MORTGAGE PAYMENT?

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Sun, 18 Oct 2009 17:56:54 -0500

Anniversary reblog!

Mike wrote this post a year ago with some excellent information for tenants. In the last few months, I've leased two homes to tenants whose previous landlords were foreclosed on. I won't be surprised if this continues to happen for some time.

Via MLS of FLORIDA Realty Corp.:

Just when you thought the housing and mortgage crisis was limited to only homeowners, a new victim has been brought into the fray, one who doesn't own a home or have a mortgage. Who are these new, unsuspecting victims? The people who are actually renting homes!

Thousands of homeowners (namely investors and property speculators unable to sell homes purchased in the recent sellers market) have opted to rent their homes to help offset their monthly debt service. Low market rents compared with high risk, high interest mortgage payments are causing many investors to go ‘out of pocket' to pay the difference each and every month, creating a negative cash flow position costing hundreds and sometimes even thousands of dollars monthly in subsidized debt service payments.

"Robbing Peter to Pay Paul" Landlords/investors juggling several properties with negative cash flow are often seen prioritizing which mortgages should get paid first. This can prove especially difficult after doing this for several months, in most cases providing disaster results. Poor bookkeeping coupled with a consistently delinquent mortgage history are causing many landlords to default on their mortgages all together, leaving many of their tenants with no place to go.

"...But I'm paying My Rent on Time!!" A perfect rental history may still get a tenant evicted from their homes, especially those tenants renting from landlords' facing a property foreclosure. The rental lease you signed with your landlord may afford you some legal remedies, but in most cases may not help you if your landlord ends up in foreclosure. If your landlord does end up in foreclosure, they might not tell you directly, but you will find out soon enough, when a sheriff's deputy or other process server serves you, the tenant, with a summons for foreclosure. Your actual name likely will not appear on the summons, except as Tenant #1, 2, 3, & 4. The summons is merely to inform you that the leasehold interest you have in the property is at risk of foreclosure. At this point, you should strongly consider seeking the advice of a competent attorney to help you understand your rights as a tenant. The rents you pay today may only end up in your landlord's pocket, with no assurances that your landlord will honorably pay their monthly mortgage payment.

So You Want To Rent Me your Home.... Although it is customary for the landlord to interview a prospective tenant, in these times, it may be just as important for a tenant to interview the prospective landlord. Before you sign a lease for the next home that you rent, ask your prospective landlord about the number of homes they are currently renting out, as well as the number of year's experience they have as a landlord. Ask them about their take on the current mortgage and housing crisis, especially their thoughts on the high number of rentals falling into foreclosure. It may not hurt to do quick search of the Public Records with the Clerk of the Circuit Court in your county may show pending lawsuits or foreclosure actions against a prospective landlord. Access to these records is easily attainable over the Internet.

Help Your Landlord, Help Yourself. The difficulty a landlord has in making their monthly mortgage payments could present a real opportunity for you, the tenant, to actually purchase the home you're renting. Depending on the market value of the home you are renting, how much your landlord owes on their mortgage, and how much you can afford to pay each month you may present a real opportunity for you to purchase the home through a short sale, provided that your landlord's mortgage lender will approve of a short sale. If this is not an option, and you find out the home you are renting is in foreclosure, consider having a frank and open discussion with your landlord regarding the remaining term of your lease and how it may be affected by a potential foreclosure on the property you live in. Inquire about any security deposits you may have paid at the beginning of the lease. If your landlord is uncooperative, you may want to consult a competent attorney immediately.

Get All of Your Ducks In A Row   A foreclosure action against your landlord could pose potential problems for you should you decide to rent somewhere else. A sudden move in the middle of a lease could raise questions from future landlords, so proper documentation by you to support your rental history is critically important. Some examples of proper documentation to consider are as follows:

*Pay all monthly rent payments and security deposits by personal check, bank check, or money orders. Paying cash proves nothing in terms of a rental history, and provides no support to you should you seek to recover any security deposits. Always pay in a format that can prove your honesty.

*Keep copies of cancelled checks to show a consistent payment history. Cancelled checks are the most effective way to show your ability to make monthly rent payments on time as well as the frequency of paying your rent at a certain time every month. A consistent payment history can provide indisputable proof that you are a good risk.

*If you are served a foreclosure summons, keep a copy for your records. If the rental you are living in does fall into foreclosure, you are likely to be served foreclosure papers as well, since you have a leasehold interest in the property. If you lose your rental as a result of a foreclosure through no fault of your own, the foreclosure papers you are served along with the documentation noted above will greatly enhance your chances of securing another rental with greater ease, and will also help you tremendously in the event you decide to purchase a home of your own in the near future.

You may not always know if your landlord is making their mortgage payments, but through careful landlord screening and proper documentation, you can protect yourself and minimize the chance of facing eviction by foreclosure.

For free copy of "Ten Tips for Tenants" or a free brochure on "Why Rent When You Can Buy?" please call 941-206-6000.

Mike Sikorski, GRI

Licensed Real Estate Broker

Licensed Mortgage Broker

Loss Mitigation Specialist

Florida Realty Network LLC

22079 Kimble Avenue

Port Charlotte, Florida 33952

Phone 941-206-6000

Mike@FloridaRealty.net

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

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Speechless Sunday: a desert catalpa tree

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Sun, 18 Oct 2009 16:48:18 -0500

On our way to Santa Fe from El Paso, I stopped to take a picture of this desert willow, or desert catalpa, by the side of the road. We recently planted one in our garden as part of our xeriscaping efforts, and I hope it grows up to be as big and beautiful as this one. The tree is native to the southwest. It is not really related to willows; quite the opposite, since it doesn't like a lot of water.

The blossoms have a faint scent that I think is sharp and soapy, rather than sweet. The bees like the nectar.

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

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Friday's Fotos: an often overlooked insect on a delicious plant

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Fri, 16 Oct 2009 17:48:28 -0500

The gray, or common, hairstreak butterfly is not an unusual sight in south Texas. But since it's rather small and somewhat inconspicuous, you may not have noticed it before. I found this one sipping nectar from the equally inconspicuous flowers on our common basil plant.

I like the subtle contrast of the aqua-blue and brown zigzag and the jolts of orange against the gray. Also notice the little tails at the ends of the wings and the banded antennae. And don't butterflies have cute faces?

We don't use chemicals in our yard (except on fire ant mounds as a last resort), so butterflies, bees, and hummingbirds love our garden. My husband also makes savory pesto sauce and bruschetta from our basil, which thrives in our garden, along with mint, thyme, and rosemary. The basil is even growing wild in our mulched vegetable garden. If anybody wants recipes, let me know!

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

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Wordless Wednesday: A jolt of adrenaline

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Wed, 14 Oct 2009 17:12:46 -0500

My house doesn't smell good right now, kinda chemical-y.

But it smells better than the house next door. Because that one is on fire.

I vaguely noticed the sound of sirens, and looked out my office window. My yard was filled with what looked like billowing fog, and then I realized it was smoke. I jumped up and ran out the front door. A couple of guys hurrying down the street yelled, "Is that your house?" and I yelled back," I hope not!" It turned out the smoke was coming from the attic of the house next door.

The firemen were getting out of the truck as I went running over. All I know about the people next door is that they have kids and an old dog, but the firemen said they'd take care of it and I needed to stay away. The neighbors said they weren't home. I sure hope that's true. They're lucky somebody saw the smoke and called the fire department. Maybe I'm lucky too.

But I hate to think how the folks next door are going feel when they do get home.

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

Why not subscribe to this lovely blog?

After the rains - another unworldly being appears in my garden in Schertz - Cibolo, Texas

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Wed, 14 Oct 2009 08:11:09 -0500

Yesterday, the downpours in the San Antonio area finally stopped. In a few weeks, we went from being on the verge of Stage 3 drought restrictions to having an overflowing pool and a leaking roof.

When the sun came out, I surveyed our yard to see if any more visitors had arrived, taking advantage of the cover of rain. I found this one hiding under the ginger, and quite a fetching color:

I checked on the status of our visitor who arrived a few days ago. It is even taller now.

When I angled up to view it from overhead, I suddenly noticed a strange pattern emerging, a sort of face, if you will.

Now that the sun is forecast to stay out and we're apparently back to summer weather, the odd beings will probably be going back to wherever they came from. It must be a wondrous place.

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

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Winter Swells in Hawaii

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Mon, 12 Oct 2009 18:26:57 -0500

Anniversary reblog!

It's still rainy, dank, and gloomy today in San Antonio. So my thoughts turn nostalgically to Hawaii. It is rainy there, too, but seldom gloomy. October starts the shoulder season, so you can get better prices on hotels, and the weather is just right. And if you love to surf, you should start making your plans to go there soon. Even if you don't! I can't surf, but I love to watch surfing.

Via Steven Nickens R(S), GRI, ABR Maui Real Estate (The Wailea Group Maui Real Estate):
It looks like we are going to get our first real winter swell of any size today. I was talking to my son Micah this morning and he said it should be building up to ten foot today. If you are measuring mainland style that would be 20ft faces. He has his jet ski out getting tuned up for winter action. While I enjoy the surf and overhead waves are fine till I am getting to pounded. My son and his friends enjoy charging big surf. My son Micah has lived on the Northshore of Oahu and surfed Pipeline and backdoor every day. That has tuned his skills at tube riding.

His friends love Jaws. Ian Walsh one of his beat friends flys all over the world to find the biggest waves in the world to tow into. My son is threatening to take me out towing so I think this winter I will try it before I get to old. I figure it's a lot like wind surfing with the straps and holding onto the boom. Actually a few windsurfers are actually responsible for discovering tow surfing. So winter is here and it's game time in Hawaii. This is what we do when we are not working at real estate. So I better get on my mountain bike and get a few sessions in for this winter. This is why we live here and enjoy Maui.

Steven Nickens R(S) GRI ABR

The Wailea Grouip LLC.

3750 Wailea Alanui suite 5We

Wailea,Maui, Hawaii 96753

www.nickensmaui.com

Email: nickens@maui.net

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

Why not subscribe to this lovely blog?

Speechless Sunday: another strange being appears in my garden in Cibolo - Schertz, Texas

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Sun, 11 Oct 2009 18:59:01 -0500

It is still raining. My roof is still leaking. As if to compensate (or distract) me, nature has sent another emissary to my garden.

The top of this alien measures about eight inches across, and is slightly pointed, like a conical straw hat. And yes, I need to mow my lawn. If it would stop raining long enough, I would!

After the downpour last weekend, bizarre-looking beings materialized. They were gone a couple of days later, back to their mother ship, I guess. I'll keep an eye on this one and see if I can spot its departure.

Some recent posts:

Fed up with real estate? Want to make big money working from home? Check it out!

Friday fun! Advertising a listing on the MLS with lots of--okay, four--photos

Did President Obama deserve to win the Nobel Peace Prize?

A sad comment on our industry: another Realtor attempts celebrity estate hoax

After the rains - what appeared in our garden in Cibolo - Schertz, Texas

My roof is leaking, and more rain is on the way to the Cibolo - Schertz area

Dollhouse is back! Good stuff to watch on TV

Why do women make less money selling homes than men do?

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

Why not subscribe to this lovely blog?

Fed up with real estate? Want to make big money working from home? Check it out!

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Sun, 11 Oct 2009 12:17:09 -0500

My husband received this exciting offer in his e-mail this morning. It was from a totally legitimate sounding, business-like e-mail address, too: correspond@bonbon . net:

Emerson Electric Co

Career Opportunities

Interested Applicant:

We are currently seeking 24 part or full time employees for our ever-growing Accounts Receivable Department.

Through extensive demographic research, we have discovered a wealth of untapped human resources that, for one reason or another,need the freedom to work from home. If this sounds like you, please read on, and consider becoming part of our company family.

Emerson Electric Co is a leading $3.2 billion global automotive supplier that has grown from our original 5 North American manufacturing facilities since our founding in 1994, to 27 global locations serving over 100 customers in 12 countries.

Due to our wide and varied interest, as well as ever increasing overhead, we have found it necessary to have our clients prepay for orders, whether in part, or full.Since the majority of our clients are overseas, most of our cash flow comes in the form of certified checks or money orders, payable in US Funds.

The position of Accounts Receivable officer entails the following duties: coordinate payments from our clients, receive payments, process payments at your local bank and forward 90% of funds received to the proper branch office, as instructed. The remaining 10% is your compensation.
Since this position is need-based, you will have plenty of free time while enjoying a good income.

If interested, please reply with full name, full residential address, phone numbers and email address, so that one of our Human Resource Managers can contact you for an interview. Please specify the best way to contact you in your reply email or phone.

We appreciate your interest in Emerson Electric Co!

Chris Gold
Personnel manager
Emerson Electric Co
8000 W Florissant Ave,
St Louis MO 63136

=========

Well, my husband wasn't really an "interested applicant," since he's happy with his job and isn't going to be lured away.

But I would love to have a piece of this action! I'm sure all I have to do is give them all my bank information during my interview and then wire them a large deposit to prove that I know how to send money.

Then I can just sit back and let the bucks roll in!

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

Why not subscribe to this lovely blog?

Beautifully remodeled home: 13127 Hunters Valley in Hunters Creek, San Antonio, Texas 78230

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Sun, 11 Oct 2009 09:09:04 -0500

This lovely home is in one of my favorite neighborhoods in north-central San Antonio, Hunters Creek. (I know, I have a lot of favorite neighborhoods.) The home has access to a pretty deck from the kitchen, breakfast room, and sun room, as well as access to a patio from the sun room and the master bedroom. You can step right outside and enjoy the view of lush grass and flowering shrubs, dappled with shade from several oak trees. Plus, the interior has been completely updated with new flooring and fixtures, with granite counter tops and tile in all the wet areas.

Enjoy the Real Estate Show, and click on the tab if you would like to see additional photos.

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

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NO ALOHA for Congress or the Lending Industry

Robin Rogers, Silverbridge Realty, San Antonio, Texas — Fri, 09 Oct 2009 12:26:41 -0500

Anniversary reblog!

Randy was not a happy bunny when he wrote this rant post one year ago.

Have things changed since then? Can we give out a little aloha now? What do you think?

Via Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes):
During the hot real estate market a few years ago banks, federal government and people committing fraud caused property values to artificially jump. Today the same banks and the same government are causing the those property values to drop all over the country. I spoke about how lenders are causing property values to decrease by their incompetence in a previous post: Lenders Are Causing Property Values to Drop.

Now they want us to be grateful to them for saving us with our own money (massive amounts of it). I for one am not grateful, I am fed up.

Congress made laws requiring banks to give bad loans and then took kick backs from them (campaign donations and sweet heart loans). Those in congress knew Fannie Mae and Freddie Mac were in trouble 4 years ago and did nothing about it covered it up and protected them; so they could continue to write even more bad loans.

Since that time members of congress continued to take money from Fannie, Freddie and the lending industry. Executives from Fannie and Freddie left with giant bonuses after riding those institutions into the ground and cooked their books. Instead of prosecuting them, many found golden parachutes. A few of them are now financial advisors for the presidential candidate who was the second highest collector of donations from Freddie and Fannie. I wonder what advice he is getting. Are they planning the next crash and burn cycle? I definitely will not be saying thank you to congress. I have no Aloha for them.

Lenders and government sat back while massive amounts of mortgage fraud went on around the country and did very little. In some cases they were active participants. Mortgage fraud caused property values to climb artificially in communities across the country. Consumers buying homes at that time paid more.

Now the very same lenders are driving down prices in those communities. They are causing consumers to lose money and their homes in some cases.

So again I say, NO ALOHA for Congress and the Lending Industry.

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

Why not subscribe to this lovely blog?