Training Calendar

Good-bye HVCC?

Since the Home Valuation Code of Conduct arrived, REALTOR's have advocated for its repeal. Tucked in the Dodd-Frank Bill (HR 4173) is a clause that, in effect, eliminates HVCC. These provisions will strengthen appraiser independence and enforcement, regulate the use of broker price opinions (“BPOs”), set standards for pricing of appraisals and appraiser valuation model products (“AVMs”), and subject appraisal management companies (“AMCs”) to federal and state oversight.

Posted via email from Andy Nazaroff’s posterous

July 28th, 2010 | Category: Uncategorized | Comments are closed

How Real Estate Pros are Using Social Media for Real Results

Thanks to Mashable for another great write up for real estate agents. 

Whether they are sharing videos, listings or advice with prospective buyers or sellers, real estate pros are using social media for real results.

  • HOW TO: Better Serve the Social Media Customer
    Here’s a look at how each department can blend traditional and social media to drive business goals and collaborate on a seamless customer experience.
  • 6 Ways to Manage International Relationships Online
    Sometimes the hardest part of having international clients is finding a way to connect with them, despite different time zones, languages and customs.
  • 6 Challenges to Managing a Brand on the Social Web
    From the tools you use today to the ones you’ll need tomorrow, six social media experts tackle challenges to managing your brand on the social web.
  • 5 Rules for Professional Social Networking Success
    Social media has opened up fantastic new ways to make and keep professional connections. Here are five best practices for tapping in.

    • Posted via email from Andy Nazaroff’s posterous

    July 5th, 2010 | Category: Uncategorized | Comments are closed

    What’s going on with the real estate market in Fresno?

    I often get asked by people considering getting into the real estate business in the Fresno area, "What's going on in the market?" After we talk about the reasons why it's a good time to get into the market, we often discuss real estate statistics. Since I do not have a crystal ball, here's more insight into the future from an article posted on Realtor.com:

    Banks: We're Hiring
    The Mortgage Bankers Association predicts that the mortgage business should increase from $725 billion in 2010 to $916 billion by 2013. Some banks agree and are hiring loan officers by the dozens.

    For instance, JP Morgan Chase is hiring 1,200 mortgage officers. "We may not be inundated with applications tomorrow, but we are confident the need will be there," says Christine Holevas, a spokeswoman for the bank.

    Citizens Bank, owned by the Royal Bank of Scotland and doing business in 12 states, plans to add 400 loan officers by 2013.

    Source: CNNMoney.com, Tami Luhby (06/24/2010)

    Posted via email from Andy Nazaroff’s posterous

    June 28th, 2010 | Category: Uncategorized | Comments are closed

    After foreclosure: How long until you can buy again?

    CNN Money recently published an article how long it takes to buy a home after going through a foreclosure.

    Financing a home after foreclosure is possible for most homeowners.  Those who default on their mortgages due to economic hardships, such as job loss, may receive approval for another mortgage in as little as two years, while it may take more than seven years for strategic defaulters to be approved.
    • Lenders utilize several methods in determining whether to grant mortgages, including the amount of money borrowers have saved; employment histories; and payment history.

    • According to the chief economist with the Mortgage Bankers Association, lenders may be more willing to finance a mortgage for a borrower who defaulted on their mortgage as a result of factors beyond their control.

    • Some homeowners who strategically default—intentionally not meet their mortgage obligations although they have the financial means to do so—assume they can raise their FICO scores by paying their others bills on time.  However, most future loan underwriters will scrutinize their records very closely, and if they determine the borrower strategically defaulted on their previous mortgage, the repaired credit score will not overshadow the walkaway. 

    • Although not impossible for strategic defaulters to finance another home purchase, it likely will be more difficult.  Lenders may ask for down payments of 30 percent or more to provide sufficient collateral to enable the bank to recoup most of its money in a foreclosure.  These borrowers also may be charged higher interest rates, even above the levels other borrowers with similar credit scores would receive.

    For more tips on how to avoid foreclosure, or to speak with a specialist trained in these matters, visit www.guarantee.com/avoidforeclosure

    Posted via email from Andy Nazaroff’s posterous

    June 3rd, 2010 | Category: Uncategorized | Comments are closed
     
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