Archive for April, 2010

Here is a short blog of Truth.  You can hold this statement to many things all of us have attempted in our lives.  But since I am specifically addressing the issues of this housing market (Short Sales and a choice thereof), I wanted to identify what I am seeing with this in 2 main areas.

1. The homeowner trying to save their home.

2. The Realtor/Agents that need to know how to handle them.

We have all been aware of some of the programs the government has offered to help homeowners (HAMP, HAFA, DIL etc..) and how they may fare …..or not…for the homeowner.  We also know that the results of these programs have been widely criticized as being a failed attempt to work (mostly).  So here is my view of what I am seeing specifically in the two areas I mentioned.

Now there is obvious finger pointing with the lack of direction, the lack information, and how the past decisions and positions (with offering and writing these loans) have shaped the crisis we are in.  But, basically being informed about the correct steps and making a true attempt to know what those are is the area I see most lacking.  The homeowner and the agent need to understand what the options are and stick with following through with a plan.  The stuff we are seeing is not just a failed system, but the attempt of trying a system they may not have known much about.  And therefore a poor follow through and result.

Keep it short,

Mike Knows

wwww.Help-ME-ShortSales.com

www.MyRealtorRescuePlan.com

New results with better number for the bail out program.  But, the admittance of a delayed conversion and trial being extended has me wondering.  That is good news….if this is truly the answer and the reason of the HAMP program.  So I am not trying to be a critic, but and my observation is that looking like a way to string along (a good percentage mind you) the inevitable…. fail loan mod’s and people out of there home.  In some ways (being the critic) it would appear that the BIG BANKS would have their numbers and plan on them for this benefit.  Of course the other benefit is to see them succeed, but somewhere in the middle therein lies the truth.

My specific solution would be to become clear on if this is really a benefit for each homeowner based on the own financial future.  I know leaving a home and the security has a lot of weight, but the challenge is if it is a misled solution in the first place?  Know your numbers and plan for the future. The banks are requesting it, and we as homeowner’s should expect it.

I have a good math class to share if you want to use it or share it.  Please email me for more details.  Mikeo@lmsgnow.com

http://www.dsnews.com/articles/treasury-report-shows-230000-homeowners-in-permanent-hamp-mods-2010-04-14

Please feel free to leave your comments below!

Keep it short,

Mike Knows

So here is where I CHALLENGE all of you whom raise their nose in the air, or let out a “but they are so difficult to deal with” to read this.  STOP THE CHATTER in your head for 2 minutes.  Ok, that was better then getting a hysterical slap off the cheek or cold water poured on you when you are having a nightmare (ask my buddy Gino about that one LOL)!

The article that I am sharing is simply the January 2010 statistics on the type of sales in our real estate world.  I am one to recoginze change after I have fought it and usually been effected by not adapting to it, but I am also one that once I catch on….LOOK OUT.    So this article basically states the obvious with what is out there in the market.  In my own experience it has been in the Massachusetts market for the last 3 years.  I personally have been effected and in it for the last 2 1/2 years.  So, basically the reason for my bantering is because there are many RE Professionals (you know who you are) that still do not want to recognize that there is a viable opportunity in this market (namely short sales), but you refuse to listen and act on what I have for you.  What you say?  You already know?  Hmmm not sure we’ve met or even done business together.  Anyway, I have built a full service RE business that is working this market in short sales and other stuff.  I have even created training and trained many to work with me…..and benefit.  I would cal this a shameless plug if I were selling something but I am not….it’s FREE.  I just need willing, able, and focused individuals to make it work.  Want to know more.  See my free report on my blog or email me at Mikeo@LMSGnow,com

http://www.dsnews.com/articles/distressed-sales-take-larger-share-of-market-first-american-2010-04-08

Keep it short,

Mike Knows

…What …..more government programs!!!????  I had to add my Bostonian sarcasm to this.  And as we (the collective masses with problem property “issues”) come into another attempt to get HELP with this mess.  We are now faced with HAFA..the new Short Sale program.  THE GREAT thing is we still are working short sales and we are not needing HAFA to get them approved for homeowners!

Email me at Mikeo@lmsgnow.com for the summary.

Essentially we have another attempt to handle this issue and make it efficient for the lender.  However, there is more to identify for the pro’s and con’s of this program largely because of the HAMP (loan modification program) that has done so miserably.  Nonetheless we see this as a “works in progress” and we will have a full line of both sides.  If the results are anything like the HAMP then we will have certainly looked at CHUMP and HUMP as alternatives.  Stay tuned as we unravel this.

Keep it short,

Mike Knows

Mikeo@lmsgnow.com