Sarah Case, Ed Evans, Robyn Graham, Kathy Hagin, Iliana Marroquin, and Jayne Willis completed extensive training and coursework to become certified as Distressed Property Experts (CDPE.)  Loan modification, deed in lieu, forbearance, short sale, bankruptcy, and foreclosure each have a different and significant impact on a homeowner’s credit, and income tax liability.  Sarah Case said, “Packaging the application in a way that paints a value picture of short selling, is crucial. If the lender can quickly see their benefit to taking a loss, the sale will close.”  “Organizing the package is the key to a successful and quick short sale” indicated Robyn Graham. Kathy Hagin said, “It is exciting to share with homeowners that there are alternatives to foreclosure.”

RE/MAX International views short sales as the next REO niche for agents. RE/MAX is promoting and underwriting the education cost. Iliana Marroquin commented “I now have knowledge and experience. I can offer solutions for homeowners in distress.” “This knowledge is making a difference in the lives and future of local families, indicated Jayne Willis.” Broker Ed Evans boasted, “With these agents, we now have 14 CDPE’s in the office.”  It is often possible to package and close a short sale before a foreclosure has been filed. This fast track alternative to bankruptcy and foreclosure has a lesser impact on the borrower’s credit.

RE/MAX Visalia with 34 REALTOR Associates is part of the California and Hawaii region which is made up of 425 offices and 8,332 agents. RE/MAX International includes 95,039 agents in 6,576 offices across 72 countries.

Jodi Musgrove, Olga Duran, Doug Lawrence, and Gail Riley have completed extensive training and coursework to become certified as Distressed Property Experts (CDPE.)   Loan modification, deed in lieu, forbearance, short sale, bankruptcy, and foreclosure each have a different and significant impact on a homeowner’s credit, and income tax liability.  Riley said, “Understanding the level of distress and the options available to borrowers is very important in a crisis market.”  “Families facing financial distress should call for this free information,” indicated Lawrence.

RE/MAX International is promoting and underwriting the education cost and process. Duran commented “it is amazing the information we now have available to assist homeowners.”  ”We use systems to package a short sale that greatly increase the approval/acceptance rate, and decrease the normally long time to close, indicated Musgrove.”  Broker Ed Evans boasted “My goal is to get the majority of our agents certified.”  It is often possible to package and close a short sale before a foreclosure has been filed.  This fast track alternative to bankruptcy and foreclosure has a minimal impact on the borrower’s credit.

RE/MAX Visalia publishes a weekly list of available foreclosure and short sale properties.  RE/MAX is located at 801 W Main St and can be reached by calling 559-734-1400, or on the web at www.REMAXVisalia.com.  So call, click or come by.

RE/MAX Visalia with 32 REALTOR Associates is part of the California and Hawaii region which is made up of 425 offices and 8,332 agents.  RE/MAX International includes 95,890 agents in 6,730 offices across 72 countries.

Three representatives from RE/MAX International in Denver attended a breakfast awards ceremony held last week for RE/MAX~Visalia.  2009 television and radio advertising campaigns, as well as a bundle of new services and tools were rolled out to the agents.

Agents Iliana Marroquin, Kathy Hagin, Tammie Tessmann, Brianne VanderSchaaf, Arthur Amaral, Natalie Sweeney, Gail Riley, Sarah Case, Ted Jeske, and Sandy Stover were awarded plaques for reaching the Executive Club level.  Heather Mendonca, Mimi Nevins, Olga Duran, Maria Ross, Preston Miller, Ed Evans, and Doug Lawrence were awarded the 100% Club plaques.  Ishmael Santana and Borna Binesh were celebrated for reaching the Platinum Club membership.

Broker Ed Evans acknowledged the transaction coordinators, administrative staff and buyer’s agents that support the success of production teams.   Evans praised agent teamwork and production, and boasted that “per agent production” exceeded 20 sales per agent.  A record breaking 627 buyers and sellers were served by RE/MAX in 2008.

Sarah Case was awarded the “Spirit of RE/MAX” award.  She was voted by her peers to be the professional who exemplifies, promotes and upholds the mission of RE/MAX~Visalia, by sharing ideas, providing leadership, demonstrating honest and trustworthy business practices, all with an attitude of service to others.

RE/MAX Visalia with 32 REALTOR Associates is part of the California and Hawaii region which is made up of 425 offices and 8,332 agents.  RE/MAX International includes 96,831 agents in 6,796 offices across 70 countries.

RE/MAX Visalia broker Ed Evans was honored by representatives from the California Hawaii region as the 2009 “Broker Owner of the Year.”  The award goes to the broker who best demonstrates leadership and accomplishments in recruiting, innovative agent education, participation in regional events, strategic planning, team building, contributions to Children’s Miracle Network, and fiscal management.  RE/MAX Visalia is recognized around the region for very high, per agent production.

“I was so surprised to receive this award.  I guess it is easy to stand out when you have such a great group of sales partners.  They make me look good” said Evans.

“Continued growth and retention of agents along with an increasing market share, makes RE/MAX Visalia show up like a bright red light, on the regional radar.  They have huge momentum in this down market.  We gave Ed this same award in 2007” commented RE/MAX regional representative Robert Nunez.

RE/MAX Visalia with 34 REALTOR Associates is part of the California/Hawaii region which is made up of 425 offices and 8,332 agents.  RE/MAX International includes 95,890 agents in 6,730 offices across 72 countries.

Ever wonder what the letters behind the name of your REALTOR stand for.  The National Association of REALTORS celebrates the month of November as Designation Awareness Month.  The designations below represent the accomplishment or completion of course work in a specific discipline.  

• ABR- Accredited Buyer Representative
• ABRM- Accredited Buyer Representative Manager
• ALC- Accredited Land Consultant
• CCIM- Certified Commercial Investment Member
• CPM- Certified Property Manager
• CRB- Certified Real Estate Brokerage Manager
• CRS- Certified Residential Specialist
• CRE- Counselor of Real Estate
• GAA- General Accredited Appraiser
• GRI- Graduate REALTOR Institute
• PMN- Performance Management Network
• RCE- REALTOR association Certified Executive
• RAA- Residential Accredited Appraiser
• SIOR- Society of Industrial and Office REALTORS

 Agents apply for membership in the society that promotes the designation, establishes standards of practice, provides continuing education, and publishes trade journals specific to the specialty.  Several designations require multiple years of documented experience and a portfolio of actual case studies.   Once the course work and testing process are complete agents are permitted to use the logo, participate and enjoy the benefits of membership.  Call your REALTOR today and see what designation he/she is working toward.  Oh…I am considering forming my own designation…PNG.  It’s easy to obtain…you just need to be a Pretty Nice Guy or Gal!

RE/MAX Visalia REALTOR®, Heather Mendonca, is one of the few agents in today’s market place that has made the financial and educational commitment to understanding the needs of distressed homeowners.  Heather decided to take the extensive training necessary to become a Certified Distressed Property Expert (CDPE) because she understands that distressed homeowners need an advocate that will act in their best interest and help them find the best solution to the financial crisis they are facing.  She recognizes that the individual best suited for this role is a well informed agent.

Heather has formed a highly skilled team of foreclosure prevention specialists to assist local homeowners.  As a Certified Distressed Property Expert (CDPE) Heather has the knowledge necessary to help local families that are facing foreclosure understand their options, all at NO COST to the homeowner.  If you, a family member, or friend find yourself in financial distress: the best solution is to seek the guidance, counsel and services of an Educated Licensed Real Estate Agent.  Heather invites people to contact her at any time for more information. Call 559-805-0908 or click www.heatherm.com.

As I watched SUPER BOWL XLII, I began to think about how an underdog may be the best bet.  I read an article by Tom Dyson that explained odds betting.  Let me summarize his thoughts as it relates to real estate.

 New England was undefeated this season.  In December the Jets (second worse team in the NFL) played New England who won the game 20-10.  If you had wagered on the Jets you would have won the bet.  A week later New England played Miami (the worst record in the NFL) winning 21-0.  Again the winners bet on Miami.  On Dec 29^th the Giants (10 wins 6 losses in season play,) met New England and lost 38-35.  Yet again, the winning bet was on the Giants. 

 How could New England win all three games, yet a gambler would have lost money three times betting on them? 

 With a perfect winning streak, the expectation was that New England would thrash all opponents.  The betting was so heavy on New England, bookies had to adjust the books with a 20 point handicap against the Jets..a 22-point handicap against Miami…and a 13-point handicap against the Giants.  And on Super Bowl Sunday the double digit underdogs upset New England who could not meet these high expectations.

 Compare this to several years ago when everyone expected real estate to continue to rise.  Investors and homeowners frenzied, buying anything at any price.  Today the public opinion is that residential real estate will continue to perform poorly.  With the deep discounts offered by builders, a flood of bank owned homes being dumped on the market, and anxious home sellers, one might wonder if we will ever exhaust the current supply of homes.  The current expectation is that real estate is a bad bet. 

 Contrarily I argue that the odds are in your favor if you were to buy today.  Values have corrected by 25%, the supply is abundant and interest rates are still very low.  As demand for real estate increases, so accordingly will interest rates and prices, as the supply decreases.

 Put the odds in your favor.  Be an unexpected GIANT with an investment in real estate this year.  My bet is…there will be many winning seasons in your real estate future.

One of the frustrating costs of low down payment loans is Private Mortgage Insurance.  Acronyms PMI, or MMI may be familiar.  In short, borrowers are required to pay to a pool that insures lenders a no risk return of the funds in case of a default.  This is a requirement on many loans over 80% Loan to Value.

 While this may be the only way to purchase a home, it may also allow you to be a competitive buyer in today’s hot market where contingent offers are unacceptable to sellers.

 Several lenders offer an 80% LTV first coupled to a home improvement 2^nd with PMI.

 For example take an equity loan on your existing home to make a 10% down payment on the new home.  Purchase with an 80% 1^st and a 10% 2^nd.  When the old home sells the 10% 2^nd can be paid in full.  While the short term cost of PMI, loan fees may add up, the cost is small when you consider your lower priced offer with no contingency may be more attractive to the seller than other offers on the table.  You do not have to quick sell your existing home and may recover the costs with a longer less pressured marketing period.

 Contact your REALTOR today and discuss the many creative ways to be competitive in today’s market.

While interviewing a seller for a listing I nearly bit my tongue in half.  My brain sent words to my mouth I found clever.  My mother would have been appalled had I actually spoke them.  How do you live this way?  Have you lost all sense of sight or smell I thought?  Struggling to say something positive I began to utter, you have a very nice home here.  It’s so big though…it may be difficult to see it in one breath! 

 Realtors together with home decorators have coined a new term for the ability to politely communicate to sellers the news that their home needs help.  “Home staging” is the current buzz phrase that offers a wide range of service.   The goal is to neutralize the home so buyers can visualize their own furnishings with out focusing on the décor or uniqueness of the seller’s lifestyle.  I met with a home staging professional this week to discuss the services they offer to sellers and was surprised at how reasonable a consultation can be.  I am noticing some agents offer this as a service for their sellers.  The range is from a simple walk though where the seller is given a list of low cost suggestions to a full blown TV reality show make over.

 I was told that only 10% of the public can visualize past clutter, smells of animals, cigarette smoke or other unique odors.  Wild paint colors, extensive wallpaper, or bizarre decorating distract buyers focus on the home.  Agents are quick to point out the price is often well below market and the cost of new paint and carpet is low, making this home a good buy.  Sellers expect buyer to just make an offer when in reality they just move on to one of the other 2200 homes that are currently being offered.  In the month of August only 180 resale homes went to contract with only 168 closing escrow.

 In this market with only 7% of the homes selling, the advice your REALTOR gives is wisely heeded.  Ask about having your home staged.  The more open, clean and inviting the longer the buyers will stay and observe the many features of the home.  Let them breathe deep and enjoy the stay in what could be their new home.

A received a call this week from a young couple living in a high priced area of California asking if they could join up to own a home together.  Because they were not married and had no immediate plans for marriage they questioned the arrangement and legality of the plan to share housing cost and hopeful profits.

 I shared that there are many forms of holding title; single persons, partners, multiple owners (single or married,) and of course married couples.  Each form holds special benefits related to taxation and rights to use or survivorship.

 According to the 2000 U.S. Census, 5.5 million households, or 1 in 20, now consists of unmarried partners.  Some are romantically involved, some are just friends and some are small groups of unrelated people joining together to create an extended, family–type community.

 Mortgage lenders, are far less reluctant than they were in the past to help cohabiters buy their dream home.  They are welcoming this growing source of business as are home builders and sellers.

 It is extremely important to safeguard your personal finances and your portion of the property.  Married couples have greater legal protection and benefit from state and pension laws as well as social security regulations.

 In any relationship, married or unmarried, it’s tempting to sweep money discussions under the rug.  It’s the unromantic part.  If possible, spell out the ground rules before moving in together and certainly before buying a home.  Optimism today may turn into a nightmare tomorrow. 

 Nancy Dunnan a New York-based financial advisor has published a great Cohabitation Checklist.  Click to  http://houseandhome.msn.com/financing/experts/friendsandco-owners.aspx