Remember that whole Taylor, Bean & Whitaker mess?  It’s been on my mind since it happened, I think in part because I have friends whose mortgage is with TBW.  And one of the questions they asked was “where do I pay my mortgage?“  Word to the wise … keep paying.  They’ll tell you where to send your next payment.

But what hypocrisy, because as homeowners are making their payments to Taylor, Bean & Whitaker, it’s highly probable that the company is not making the necessary payments to the municipalities and insurance companies on behalf of those same borrowers.  I dug around a bit today and am starting to hear that that in fact is the case – more and more companies are probably going to begin reporting that escrow payments from TBW are not being made.

Find out what to do, at NRVLiving.com ...

There’s a fundamental shift going on in the way we are getting our information, processing it, and acting on it.  Organizations – of all shapes/colors/flavors/sizes – would be wise to pay attention:

• Facebook would be the fourth largest nation in the world
• YouTube (where I found this video) is the second largest search engine in the world

People are talking:

• 25% of search results for the world's 20 largest brands link to user-generated content
• millions of bloggers are talking about your products online

Think about it ... do you buy a product - a bike, a car, a house - because of an ad, or because of the recommendation(s) of others. The majority of our decisions as consumers are based on recommendations from those we trust. And despite that, companies continue to yell and scream and try to get our attention. Car dealers print bigger ads in newspapers that no one's reading. Politicians buy more air time for shows that no one's watching. Real estate agents try to be everything to everyone ("Call me for all your needs") in an era where specialization and consultation are demanded. I can promise you that you're missing the point if you think all of this is about marketing in an online world. There are Get-Rich CD's for that.

A couple of days ago, the news in the mortgage industry was the beat down Taylor, Bean & Whitaker was getting.  Since that post, I've contacted a few past clients and friends who have used TBW to secure their mortgages, and everyone wants to know ...

"What happens to my mortgage now?"

Find out what at NRVLiving.com.

WASHINGTON - The Federal Housing Administration (FHA) today suspended Taylor, Bean and Whitaker Mortgage Corporation (TBW) of Ocala, Florida, thereby preventing the Company from originating and underwriting new FHA-insured mortgages. The Government National Mortgage Association (Ginnie Mae) is also defaulting and terminating TBW as an issuer in its Mortgage-Backed Securities (MBS) program and is ending TBW's ability to continue to service Ginnie Mae securities. This means that, effective immediately, TBW will not be able to issue Ginnie Mae securities, and Ginnie Mae will take control of TBW's nearly $25 billion Ginnie Mae portfolio.

Read more, and why it affects you as a home buyer, at NRVLiving.com.

If you live in Montgomery County, be prepared for a tax increase in 2011.  I know, that's a year and a half away, but start putting away those shekels now - the County is beginning real estate reassessments this month.  From Montva.com:

Montgomery County Begins Real Estate Reassessments

Read more at NRVLiving.com ...

Several months ago, I started hiring Sean Shannon Photography to take high-quality photos of the real estate properties.  I was finding that while my camera certainly takes good photos, it couldn't show the house off quite as well as a professional could.  I talked with Sean about my problem, and he immediately showed me what I was missing.

Now, my properties stand out.  They pop.  And they turn heads.  I use Sean's photos everywhere I run an ad, and everyone comments on how they look.  

Read the interview with Sean Shannon at NRVLiving.com ...

Ever wondered what the best state to start a business in is?  I'm sure you can guess, given I'm living and working in Virginia, but here's an interesting look at WHY Virginia continues to win these awards.

See the video at NRVLiving.com.

It's not a Letterman Top 10 list, but could I get a drumroll please?

Thank you.

From FrontDoor.com comes their "Top 10 Things To Expect in the Housing Market in 2009" list.  #5 might be the most important, in my opinion.

1. Continued market adjustments - With home prices in some markets having reached astronomical levels, it was inevitable a reset button be pushed. Sellers will continue to be challenged in 2009 as the inflated pricing of years past adjusts to normal levels. With banks and builders willing to slash prices to sell a backlog of foreclosures and new homes, individual sellers will have to price their homes competitively.
2. Action from the Obama administration - President-elect Barack Obama's plan to help the housing sector includes a 10 percent mortgage tax credit for homeowners who don't itemize their taxes and a crackdown on abusive lending practices.
3. More assistance programs for homeowners in danger of foreclosure - While the federal government is attempting to reduce foreclosures, a report released by the Joint Economic Committee predicts 2 million foreclosures in 2009. Homeowners who are at risk should take steps to avoid foreclosure.
4. Some calm to the chaos of the banks' restructuring - This should cause loan modifications and short sales to get easier, and it will also (eventually) decrease the number of bank-owned properties on the market.
5. Thorough reviews of mortgage applications - Before the subprime mortgage debacle, you didn't have to prove you could afford to borrow $200,000 for a home and you didn't need a down payment. Those days of sketchy lending practices are gone. Lenders now require potential borrowers to provide extensive income and expense documentation. Homebuyers with the best credit will get the lowest interest rates. Take steps now to get your finances in order and boost your credit score.
6. Low prices and low interest rates - 2009 could be the time for reluctant homebuyers to act, as this is perhaps the last year of the best buying opportunity in recorded economic history.
7. Cool tech tricks and tools for the real estate obsessed - As homebuyers turn to the Web more and more for their real estate needs, video, webcasts and mobile search tools are becoming more prevalent. Sellers should consider using these cutting-edge tools to make their homes stand out.
8. Wiser consumers - After facing this foreclosure crisis, buyers, sellers, real estate agents and even tenants will have a deeper understanding of real estate, mortgage and credit, which they can use to make better decisions and be more self-protective in the future.
9. Leaner, greener homebuying - Across the board, homebuying is becoming more eco-friendly, from transactions being conducted digitally to buyers opting for smaller homes within walking distance of school and work.
10. An increase in consumer confidence - As the year goes on and we near the projected end of the recession, sellers can breathe a sigh of relief as buyers regain confidence in the market.

Well ... we've got a year to see what comes true.