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We have all seen Back to the Future Part II and all know that in 2015 we are supposed to have all these great advancements and technology…The truth is we already have most of the things they came up with in that movie.  Everything except for the ever elusive flying car…but I also know that we are getting close on that too…But what about real estate…

Do you think homes being built in 2015 will be any different than today’s home?  Do you think that we will miraculously adopt the thumbprint entry rather than your traditional doorknob and handle? What about the door itself? Will we all of a sudden start building homes that lose the normal door altogether and start using the Star Wars “blast door” style? Or perhaps we will have coolers on our ceilings that drop on command…

The truth is that homes most likely will not change that drastically in 3 years.  I think the only things we will see are continued upgrades to items already being used.  Items that will help save on energy costs and electricity.  I think we will start to see a lot more solar powered appliances and roof solar panels.  I also think we will see a lot of innovation in windows and insulation.  Lets face it, the trend is and will be for awhile is energy conservation and the environment.  The more “green” we can build new homes the better it will be for the environment…Which is a really good thing and I think a lot of innovation will come out of energy efficiency and solar energy research.  I just saw the other day a paint that you can use that will conduct solar energy and with the right equipment installed can be utilized for household energy use.

What are some things that you think we will see in the next couple years…Where will the new home building focus be? What kinds of interesting things have you seen lately in this arena?

Tim Brown
Realtor ®, BROKER, ABR, CRS, CDPE ®, SFR, Auctioneer NCAL#8560
Hines & Associates Realty
Direct Line: 704-619-1008
www.CarolinaHomes4Sale.com

How clever some of these companies that keep popping up claiming to be our good buddies and stick with us throughout the transaction.

Something didn't sound right when I started questioning the guy. Sure he said he was with the National Group(s) or something. When I started to ask how they got paid he let me know that they get a 1% fee and that commissions are reduced to 5%. When I pressed about how they intend to get around Fannie Mae's guidelines that they're not allowed to reduce our commissions below 6% he started back pedaling.

In the end he said I didn't have to work with him and he could send my file back to LBPS/Seterus, although, he didn't know how long it was going to take for them to get to the file. Hmm...that sounds like a not so subtle intimidation tactic.

That begs the question of who they are working for and whether or not it's legal? You see, in the great state of Idaho, you're not allowed to collect a fee for short sale negotiation unless you're a licensed agent and it is standard of practice in your regular business of helping clients to list and sell homes or you're licensed with the Department of Finance.

If I'm given the choice of whether or not I want them to work my file and they're collecting a 1% fee taken from a reduction in my commission who's behalf are they working on?

Sure, I'm arguing semantics here, however, it's not right that they don't disclose their game up front. When push came to shove he hung up on me.

Should we as agents push back against the tactics and business practices of companies like this?

P.S. It reminded me of a similar go round I had with another company recently, Titanium Solutions, only in that case it was an agent who called upon one of my clients directly knowing full well the property was already listed. That's an interference with a brokerage agreement and against the law, I checked with the real estate commission. Same type of threat from them about not running the transaction through their company. Guess what? Bank of America said they could go pound sand and took the file and ran with it anyway. It's amazing the amount of knowledge and protection short sale agents have to have to service their clients properly.

I am having a tough day with stupid people. Fannie Mae may be at fault.

This morning I picked up the NY Times, skimming over the headlines I found this article to be a worthwhile read.  It exemplifies what happened to so many people who thought they were doing the right thing. 

A great read on How a Financial Planner Lost His House: http://nyti.ms/rO86by. -- Short sale stories come from all walks of life...  After a client makes their decision to short sale, we become their best ally in helping them to unravel a piece of their financial entanglement.  Short sales are not for the faint of heart and certainly there are no quick fixes, programs or nonesuch.  

It still comes down to hard work and the three P's; Persistence, Patience and Perserverance. 

Article Source: NY Times - November 9, 2011

I just wanted to share this quick post from my outside blog ShortSalePowerHour.com.. My favorite topic is "Mindset Monday" 

Here is a quick share from my outside blog ShortSalePowerHour.com regular Monday feature "Mindset Monday"

Escalating agent concerns I am in the process of negotiating a short sale with Deutsche Bank for my client, an active duty navy member. My client was transferred ou… Started by Keith Canty	3	9 minutes ago Reply by Bryant Tutas
Chase SS Help/Advice We are first time home buyers. We found a great house that is in short sale. The listing price was $299k(I know that doesn't matter...only… Started by Robert Lindbloom	0	10 hours ago
Any agents doing BPOs too? Hi! I was just curious if any of you also do BPOs and if you are comfortable sharing, what company you do them through? I've heard both goo… Started by Sarah Davis	8	13 hours ago Reply by Richard
Short pay on Existing mortgage and keep the house I have a client that has come to me and says that BOA is offering to accept about 80% of the current value, (about 50% of the existing mo… Started by Jackie Henderson Kumm	5	22 hours ago Reply by Jeff Payne
$2000 shortfall between BofA and US Bank Dear Short Sale Agents. I have been successful in escalating a file with US Bank as 2nd position lien holder. This escalation was success… Started by Paul Aceto	11	yesterday Reply by Ron Margolis, RA
Need help with US Bank I have had a file with US bank now for 11 weeks. They have said in order to get a negotiator regular wait times are 6 weeks - we have been… Started by Heather Cook	7	yesterday Reply by Ron Margolis, RA
Warning to California Agents re Seterus Clients contacted me with approx 2 weeks to go before the scheduled Trustee Sale. I just closed an 11 month IBM / LBPS / Seterus / National… Started by Harry Clay	8	yesterday Reply by Harry Clay
Clear to Close via Equator I have been provided with a "Clear to Close" status and was directed to see the "Clear to Close Documents" by going to Equator and logging… Started by Anastasia Reed	7	yesterday Reply by William F Griffin Jr
Wells Fargo okays repairs Well this is new...the buyer on my short sale listing asked for repairs from Wells Fargo and I sent it in thinking NO WAY. Well, surprise,… Started by Wendy Martin	3	yesterday Reply by Wendy Martin
How to get HAFA to move on this? I have a buyer with an approved offer on BofA short sale. He requested an extension which was submitted to BofA about Oct 18 with an Origin… Started by John Young	2	yesterday Reply by Catherine Myers

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REGrow, LLC does not necessarily endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. REGrow, LLC takes no responsibility for the content on these pages that are written by the members of this community.

I know it’s hard to believe. But it’s still true. You may qualify for a cash incentive*** from your Lender to do a Short Sale.

***These programs are not available to all Sellers and the incentives may vary from State to State.

Here are the Short Sale Incentive Programs that I am aware of:

HAFA. Home Affordable Foreclosure Alternative. Lender will pay the Seller $3,000 as a Relocation Assistance. Only for primary residences.

FHA PFS. HUD Pre-Foreclosure Sale. Seller can receive $1,000 for relocation assistance. Just yesterday I received FHA PFS approval increasing the seller incentive to $4,000!! Only for primary residences.

Chase Short Sale Incentive Program for select Borrowers offering them up to $35,000 to do a short sale.

Bank of America Co-operative Short Sale. From $3,000 to $20,000 Short Sale Incentive.

Citi Bank, Wells Fargo and Ocwen also have programs available for select home owners. Amounts vary from $3,000 to $35,000. Most are in the $5,000 range.

Folks if you are behind on your payments be sure to open any and all mail you receive from your lender. It could very well be an offer to Short Sale your property. These offers are usually time sensitive and require immediate action on your part.

But why would my Lender pay me to do a Short Sale? That’s a good question. For one, it less expensive, for them, for you to cooperate during the Short Sale process and maintain the property than it is for the Lender to foreclose and get an abandoned property back. Also, the Lender does not want you to continue living in the property for free. They would rather pay you to do a Short Sale now than have you live there for another year or so while deciding what to do. The incentive gets you to take action.

Whatever their reason is.....it’s a good opportunity for you. Any questions?

Are you under water on your Florida mortgage?

Below is a video we shared on our website earlier this week. I wanted to share it with more agents and thought this would be a great place for it.

La Quinta, California Short Sale CLOSED!  Listing to Recording in less than four months..and that was after first position Buyer walked!

•  
• SHORT SALE STATISTICS

• Bank of America, one note, no MI
• Primary Residence
• Seller Hardship was loss of Income for one spouse
• Original Note Value:  $320,000
• Closed Sale Price:  $150,000 (conventional loan)
• B of A accepted approx. .45 cents on the original dollar

Bit of a panic as B of A had not approved Final HUD until late yesterday afternoon, and then it was via Equator..but got it recorded!

Hi,

I am looking for opinions on Short Sale Commander.  Who is / has used it?  Do you recommend it? Do you feel it simplifies your workload?  Any and all advice / opinions are appreciated!!