Winter is coming, some will fly south for the winter, but either way get your homes and vehilcle's ready! Where would you rather be than in a Wisconsin winter, it's not too early to dream about beaches and warm weather! =)
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Friday, November 16, 2012
The early bird gets the worm! Except when it's frozen... now what?
Wednesday, November 14, 2012
The Infamous #Hashtag - Tech Hottips
#LondonOlympics. #CheeseCurds.
Have you seen the # symbol in front of words and wondered what on earth that pound sign is doing there? It all started on Twitter … but has recently migrated to other typed conversations as well.
The “#,” also known as the “hashtag,” is used to categorize a topic of conversation. On Twitter, the hashtag is used to group conversations and often is used at conferences and gatherings both on and offline. When using Twitter, you can click directly on the #hashtag and see the recent tweets that have the #hashtag in the conversation. This is very handy when you would like to be on top of tweets from a conference or gathering. Most of the time, event-goers are informed of the agreed-upon #hashtag that will be used for the event. For those of you 2012 WRA Convention attendees, you might remember seeing “#WRAConv2012.”
Beyond Twitter, other networks use the #hashtag and allow users to find a topic by clicking on the #hashtag. You’ll also see people using the #hashtag in their text messages or on networks where the #hashtag isn’t clickable.
Now you know what that pound sign is doing before a word or abbreviation! By the way, don’t get hung up on grammar — some people will even run words together without spaces in a phrase, like #mlsphotofail!
via techhottips.com
Tuesday, October 30, 2012
Counseling keeping homeowners in their homes | Inman News
Counseling keeping homeowners in their homes
Study: Nearly 70 percent who sought counseling before becoming delinquent were current 18 months later
By Steve Bergsman, Friday, October 26, 2012.http://www.shutterstock.com/pic.mhtml?id=44796436" target="_blank">Home sweet home</a> image via Shutterstock." width="225" />Home sweet home image via Shutterstock.
Since the onset of Great Recession and the subsequent housing crisis, hundreds of thousands of homeowners have lost their residences.
However, there were also thousands of other homeowners who were close to the desperate edge but managed to make it through those trying times because they were counseled by professionals who steered them past the economic shoals.
While it looks like the worst is over for homeowners, there's still much trouble in paradise and organizations that do counseling have begun to pick up the pace.
In August, Fannie Mae announced it opened an extension of its Los Angeles Mortgage Help Center in the Inland Empire region to provide free education and counseling services to struggling California homeowners. Fannie Mae now has 12 Mortgage Help Centers around the country.
Meanwhile, earlier in the summer, the National Council of La Raza (NCLR) launched a telephone counseling program aimed at helping homeowners in six states who are facing foreclosure.
According to NCLR, residents of Arizona, Colorado, Michigan, Nevada, Utah and Washington will be able to call the new hotline to speak with housing counselors who will help them navigate through the options of applying for a loan modification, short sale or refinance, or submitting a claim of wrongful foreclosure.
All this activity seemed to me to be late in the game -- after all, the housing market was lifting off the bottom in most cities across the country.
As it turned out, my assumptions were dead wrong.
"We are just halfway through the crisis," said Graciela Aponte, a senior legislative analyst with NCLR. "The first wave was huge and it was mostly about the homeowners who bought high-interest-rate loans or adjustable-rate loans. We've gone through that wave and now we are seeing a different wave, which is economic. Families where the breadwinners have lost their jobs or are only working part time, and their house is worth half of what they bought it for."
So, why the hotline? I asked.
"What we have seen in the last six to nine months are lower numbers coming into the counseling agencies, which is strange because there are a lot of new programs out there that we thought would bring an uptick in our clientele," Aponte said. "It is very confusing on the ground. We are trying to do a larger outreach effort."
All these extra efforts by Fannie Mae and NCLR are important because counseling works. Earlier this year, the results of two studies by the U.S. Department of Housing and Urban Development confirmed the positive impact counseling has on consumers in two distinct situations: buying a home and struggling to stay in a home.
The results:
- Through the Pre-Purchase Counseling Outcome Study, HUD found that 35 percent of participants became homeowners within 18 months of pre-purchase counseling.
- According to the Foreclosure Counseling Outcome Study, nearly 70 percent of those counseled by a HUD-certified counselor obtained a mortgage remedy. In addition, 56 percent found solutions in their defaulted loan and became current on their mortgages.
I checked in with Jo Kerstetter, the vice president of financial education and community relations for Money Management International in Washington, D.C., and asked about the HUD studies.
I figured Kerstetter would know a thing or two about counseling, as hers is a nonprofit organization approved by HUD to deliver a variety of housing counseling services: the Homeowner's HOPE Hotline, first-time homebuyer workshops, and reverse mortgage counseling.
The most significant part of that study, the piece that everyone should take away, according to Kerstetter, "is that nearly 70 percent of the clients who sought counseling before they became delinquent were still in their homes and current on their mortgage at the 18-month follow-up period. The 30 percent who weren't successful were six months behind at the time they entered the counseling."
To which she added, "That indicates the need for people to get counseling as soon as possible. If that happens, counseling works."
Counseling succeeds because the people who seek out help are extremely serious about their situation and really need to find a solution. They appreciate the assistance because the financial process to rectify a tough situation can be daunting. If a third-party walks them through the process, gives them support, assistance and knowledge, there's a very good chance they'll find a way out of their economic dilemma.
There are two things that happen in counseling. First, a counselor looks at the total family situation. Then the counselor helps the homeowner come up with a plan.
In addition, the homeowner is encouraged to contact the lender with the counselor as the backup.
Kerstetter explained, "What we try to do once we determine the client's situation is intercede with the servicer and set up a loan modification, or another program that assists the consumer in staying in their homes."
NCLR's counseling can be broken into three sectors. First is pre-purchase counseling.
"Although there are low interest rates and the lowest prices ever for homes, we don't see our clientele taking advantage," NCLR's Aponte said.
Secondly, it's to get clients through the foreclosure process.
"There are all kinds of programs out there today," Aponte said. "Two of the bigger pieces now are forbearance, such as a 12-month program where you don't have to pay your mortgage if you are looking for a job, and principal reduction programs."
Thirdly, counseling is to make sure clients are part of the bank settlement process.
"These were settlements because the banks steered our community into higher-interest loans that resulted in foreclosures," Aponte said. "We want to use our network to reach those families and give them the compensation they deserve."
Aponte and Kerstetter strongly agree on one thing: For-pay counseling is not the way to go, but it's an uphill battle.
"It's difficult to comprehend that we are a free service," Aponte said. "Companies advertise they will charge $5,000 and guarantee a modification. No one can guarantee this. We have more information than these scam artists, but somehow they're marketing is more attractive and they are getting to our families faster than we are. It's frustrating."
Steve Bergsman is a freelance writer in Arizona and author of several books. His latest book, "Growing Up Levittown: In a Time of Conformity, Controversy and Cultural Crisis," is now available for sale on Amazon.com.
Contact Steve Bergsman: All rights reserved. This article may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this article without permission is a violation of federal copyright law.
via inman.com
This is interesting content for those of you working in the short shale and foreclosure world. Help them avoid foreclosure so that you can build a loyal client base with the recovering housing clientele.
Thursday, October 25, 2012
InmanNext | Study: 74 percent of Realtors do not justify their commission
-->I hire you to sell my home, now what?
The University of Central Florida’s Department of Psychology, in collaboration with the team from Merge, collected hundreds of responses focused on the topic of consumer satisfaction regarding the commissions Realtors charge to sell a home.
Also pointed out in the findings below, the frequency of communication and organizational systems used by Realtors to communicate with their home sellers, once the listing agreement has been signed.
Ouch.
Merge was built to more efficiently and effectively communicate the work you are doing for your clients.
Article continues belowAfter reading through this eye opening data, and also having had countless conversations with agents and brokers about this issue of transparency after the listing is won, I am sold that a solution is needed.
Good for Merge for trying to tackle such a big problem in our industry. They’ve built a well-designed interface and have a focus on usability, both from the agent and consumer perspective. Their website is also really slick and explains their service as well as pricing model in depth.
In real estate it seems communication, not content, just may be king.
via next.inman.com
This is a big deal people! If you want to show every step that you go through in all your hard word to service a client, consider this MERGE software. It helps you convey all the "UNSEEN" work that you do each and everyday. This is what they mean by Justify. The generation coming up doesn't put a high value on experience, knowledge or know how.... Why would they? They have youtube right? =) As the #1 Brand in the business we need to lead the way in combating these types of reviews and get tougher on our piers who are making our industry look bad. It's time for our boards to start disciplining and righting the ship!
What do you think???
Mortgage rates remain near record lows - Oct. 18, 2012 - by CNN Money
NEW YORK (CNNMoney) -- Rates on the average 15-year, fixed-rate mortgage hit a new low this week, falling to 2.66%, according to mortgage giant Freddie Mac.
The 15-year is particularly popular with homeowners who want to refinance their old mortgages to a lower rate and pay off their loan more quickly.
Interest rates on 30-year loans, which are popular among first-time homebuyers, averaged 3.37%, a single tick above the record low of 3.36% set two weeks earlier.
Economists: Housing recovery finally here
Rates have inched down about 0.2 percentage points since the Federal Reserve announced plans in September to buy as much as $40 billion a month of mortgage-backed securities until the economic recovery started gaining momentum.
That may be happening already, according to Keith Gumbinger, of mortgage information company HSH.com.
"If the economy continues to show signs of improvement this fall, mortgage rates could firm a little more," he said. "For that to occur though, we'll need a lot more evidence that forward momentum is building."
Frank Nothaft, Freddie Mac's chief economist, said rates remained unchanged this week as "home construction builds up steam."
He noted that construction on single-family homes continues to rise, as does homebuilder confidence, both of which point to an improving housing market.
First Published: October 18, 2012: 12:48 PM ET
via money.cnn.com
Wednesday, October 24, 2012
Online Meetings for Real Estate: 7 Ways To Give Your Clients the Red Carpet Treatment | from Inman Next
-->Client meetings. Web conferences. Conference calls. These are often considered the necessary evil of doing business and collaborating. Virtual and remote meetings are becoming the standard in working remotely, providing a convenient and casual atmosphere to have conversations, share computer screens, and even files and photos. What if there was a way to turn these often technically awkward meetings into a real estate business strategy that provided a red-carpet treatment for your buyers and sellers? Here are 7 ideas to rolling it out.
Rolling out the Red Carpet
1. Schedule your meeting with flair. Send a personal video email reminder the day before, and let your client know you’re looking forward to it! Send it along with a calendar event they can RSVP to. Give them a brief run-down of the agenda that gets everyone on the same page. Let them decide if they would like a video meeting, or just a screen-shared conference call.
2. Be an expert in your meeting technology. Make it yours. Adopt a web meeting platform that you are comfortable with using, and know it well. Liveminutes.com is one that I love. Have your headset, mic, and PC/Mac compatibility factors all figured out. Include some connection tips to your clients to give them a chance to be prepared before the meeting. Let them know if it will be recorded to review later.
3. Be prepared. Only invite essential people to the meeting. Have your documents and files ready to share from Evernote or Dropbox, and know exactly what your agenda is. Connect to your meeting 10-15 minutes before the start time to get any glitches out of the way. Keep the meeting connection links and numbers handy to send again to your clients if needed. Try to keep it 45 minutes or under.
4. If using video, create an inviting, distraction-free backdrop off camera. Whether in the office, Starbucks or at the home office, try to have an inviting or clean area behind you. Take a look at what your best lighting is and keep personal items, pets, and messy desks to a minimum. Cups of coffee or tea permitted. Dress as you would for any other business meeting, even if it’s only from your waist up. Be professional.
Article continues below5. Focus on your clients. Put away your cell phone. Turn off social media. Close your extra browser tabs. Close your door if possible. Look into the camera. One of the greatest attributes of online meetings is the advantage of face to face expression, eye contact and personality. Show them how important they are by not allowing yourself to be distracted. In this day and age, it is a breath of fresh air to focus on the person or people you are talking to.
6. After the meeting, follow up with even more flair. Send a handwritten note saying thank you. (consider a Starbucks gift card they can use to get them through future meetings.) Email them with appropriate notes or documents for them to have copies of if needed. Get that to them right away, it’s easy to put that off.
7. Consider a private client Facebook Group to collaborate in a more casual environment. Keep your meetings relaxed, fun and social by creating another place they can find you, get updates, see photos or videos in between more formal meetings.
Everytime we touch technology we have the opportunity to turn it into a better user experience for ourselves or our clients. Sometimes it’s not enough to just have a tool. Make it yours. If you love it, fit it into your customer’s user experience. Every client deserves a little red carpet treatment. They will love you for it.
Online Meeting platforms that are fun and user-friendly. Do you have a favorite?
via next.inman.com
Tuesday, October 23, 2012
Housing Market Recovery Hits New High in September - Forbes
Trulia’s Chief Economist reveals the latest findings from the Trulia Housing Barometer. Looking at new construction starts, existing home sales and the foreclosure plus delinquency rate, the housing market is now 43% back to normal — a new post-crisis high!
Each month Trulia’s Housing Barometer charts how quickly the housing market is moving back to “normal.” We summarize three key housing market indicators: construction starts, existing home sales and the delinquency-plus-foreclosure rate. For each indicator, we compare this month’s data to (1) how bad the numbers got at their worst and (2) their pre-bubble “normal” levels.
Each month Trulia’s Housing Barometer charts how quickly the housing market is moving back to “normal.” We summarize three key housing market indicators: construction starts (Census), existing home sales (NAR) and the delinquency-plus-foreclosure rate (LPS First Look). For each indicator, we compare this month’s data to (1) how bad the numbers got at their worst and (2) their pre-bubble “normal” levels.
In September 2012, construction starts surged. However, existing home sales fell slightly, and the delinquency foreclosure rate unexpectedly jumped.
- Construction starts held roughly steady. Starts in September were at an 872,000 annualized rate, up 15% month over month and up 35% year over year. Construction activity in September was at its highest level since July 2008. Nationally, construction starts are 39% of the way back to normal.
- Existing home sales slipped a bit in September. After a big increase in August, existing home sales fell 1.7% month over month to 4.75 million in September – but that’s still a respectable 11% increase from one year ago. Sales are 57% back to normal, which is more than halfway.
- The delinquency foreclosure rate jumped back up. In September, 11.27% of mortgages were delinquent or in foreclosure, up from 10.91% in August due to an unexpected increase in the share of delinquent loans. The combined delinquency foreclosure rate is at its highest level in seven months and is 34% back to normal.
Averaging these three back-to-normal percentages together, the housing market is now 43% of the way back to normal – compared with 42% in August and 24% in September 2011. For the second month in a row, the Housing Barometer is at a post-crisis high.
via forbes.com
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