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Every Saturday, Stagecoach Days: Celebrating the West on the Move Celebrate travel and transportation in the era of real horsepower – before the train and automobile. In addition to the permanent collection of historic wagons on display at Seeley Stable museum, coaches and wagons will be out in the plaza. Stay the day and enjoy activities that reflect life in San Diego during the mid-1800s. Each week will offer a different theme and activities. The activities are Free. Time: 12:00 pm – 4:00 pm Location: Old Town San Diego State Historic Park, San Diego Ave. and Twiggs St. For more information visit http://www.parks.ca.gov/events/event_detail.asp?id=2946 | |
July 4, Annual Big Bay Boom Fireworks Show A display of some of the most technically advanced pyrotechnics will be fired from four barges floating in the bay off Shelter Island, Harbor Island, the Embarcadero area and Seaport Village, and will last more than 17 minutes. Fireworks will also be discharged at the Imperial Beach Pier. Good Viewing Areas: Shelter Island, Harbor Island, Spanish Landing, Seaport Village, Embarcadero Marina Park North, Tuna Harbor, Coronado Landing, & Coronado Tidelands Park, or on your own yacht on the bay. | |
July 4, Scripps Ranch Old Pros 10K, 2-Mile Fun Run & Bike Rides This event offers several running and cycling opportunities to choose from. See website for entry fees. Time: 6:00 am – 1:00 pm Location: Miramar Ranch School parking lot, Scripps Ranch For more information visit www.srop.org | |
July 8, Midnight Catfish Craze San Diego County’s only nighttime catfish tournament promises to be filled with lots of big fish, big fun, and great prizes. The top five catfish by weight will be awarded prizes as well as a prize for the smallest catch of the night. The lake will is stocked with over 1,500 pounds of channel catfish. Derby Ticket plus daily permit required. See website for details. Time: 4:00 pm – 11:45 pm Location: Lake Poway, 14644 Lake Poway Rd., Poway For more information visit www.poway.org/lakepoway | |
July 9, Bake at the Lake A four-mile cross-country race on the trails at Lake Hodges. Proceeds benefit Mission Vista High School Cross Country Teams and the park trails system at Lake Hodges. Participate and get a good workout for a good cause. Admission $10 - $15. Time: 7:30 am – 10:30 am Location: Lake Hodges For more information visit www.northcountyroadrunners.com | |
July 9-10 & 16-17, Annual World Championship Over-the-Line Tournament Over fifty years of adult rugged sandbox softball play. A form of softball, limited to 1,200 teams of three persons each, playing almost 2,400 games in two weekends with close to 50,000 expected to attend. Admission is free. You have to be 18+ to play. 9 age divisions. Time: 7:30 am to dusk Location: Fiesta Island - Fiesta Island Rd – East Mission Bay For more information visit www.ombac.org | |
July 10, 2011 Carlsbad Triathlon This race is for everybody. The Carlsbad Triathlon ranks in the world’s top five longest running triathlons. The race begins with an open-water ocean swim, which is well-marked with buoys followed by a bike course, and the race finishes with a run along the Pacific Ocean coastline. Time: 8:00 am Location: Tamarack State Beach, Carlsbad For more information visit | |
July 14-17, Robert Egger South Bay Recreation Center Carnival A 4-day community carnival--fun for the whole family. There will be traditional carnival rides, challenging games, snacks, and a portrait novelty booth. Small admission fee of $2.00. Free for age 6 & under. Time: Weekdays 5:00 pm – 11:00 pm / Sat & Sun 1:00 pm – 11:00 pm Location: Robert Egger South Bay Recreation Center, 1885 Coronado Ave. For more information call 760-735-8542 | |
July 14-17, San Diego Yacht and Boat Show 2011 Become immersed in the environment of powerboats and sailboats in the water and on land. Marine accessory products and services are also well represented in a special expo area. Admission: Adults $10 / Children 12 & under free. Time: Thurs & Fri 11:00 am – 7:00 pm / Sat 10:00 am – 7:00 pm / Sun 10:00 am – 6:00 pm Location: Sheraton Hotel & Marina, 1380 Harbor Island Dr. & Cancer Survivors Park, 4100 N. Harbor Blvd., Harbor Island For more information visit www.sandiegoyachtandboatshow.com | |
July 16 & 17, Annual LGBT Pride Parade, Rally & Festival Multiple events take place in Balboa Park & Hillcrest areas, including a political rally, a 5K Run & Walk, a mile-long parade down University Ave., and a two-day festival with live entertainment on three stages and much more! Time: Refer to website for schedule of events Location: Balboa Park and Hillcrest areas For more information visit www.sandiegopride.org | |
July 17 & 18, El Cajon Alley Cat SummerFest Features prominent artists, entertainment, and sidewalk vendors from East County and San Diego. There will be live music, a classic car show, motorcycle run, job fair, and art show. Time: Fri 10:00 am – 8:00 pm / Sat 9:00 am – 10:00 pm Location: Downtown El Cajon (between East Main St. & Rea Ave) For more information visit www.downtownelcajon.com | |
July 20 – Sept 7, Del Mar Horse Racing Hold on to your hats… the Del Mar Racing Season is about to begin! Time: Refer to website for schedule and special events Location: Del Mar Fairgrounds, 2260 Jimmy Durante Blvd., Del Mar For more information visit www.delmarracing.com | |
July 21 – 24, Comic Con International 2011 Comic Con International features special guests, exhibitors, seminars, previews, autographs, film festival, and more on the world of comics, movies/television, animation, and art. This is the largest comic book and pop culture event in the United States. Time: Refer to website for schedule Location: San Diego Convention Center, 111 W. Harbor Dr., San Diego For more information visit www.comic-con.org | |
July 22 – 24, US Open Sandcastle Competition & Street Festival This 3-day event includes a The Sandcastle Ball on Friday, street festival with entertainment, food, arts & crafts, and a kids sandcastle completion on Saturday, and the main sandcastle building contest on Sunday. Time: Refer to website for complete schedule Location: Seacoast Dr., Imperial Beach For more information visit www.usopensandcastle.com | |
July 24, Solana Beach Triathlon & Duathon Classic beach party triathlon. Come out and join the surf, sand and sun with over two thousand athletes, family and friends. Time: 7:00 am Location: Fletcher Cove, Solana Beach For more info: http://www.kozenterprises.com/Triathlons/solanadf84.htm | |
July 31, Consignment Auction Antiques and collectibles consignment auction including farmhouse and barnyard collectibles, estate furnishings, restored and original farm tractors, wagons, farm toys, rustic farm implements, yard art, tack & saddlery, historic memorabilia, county primitives, and hundreds more antiques and collectibles. Consignments are accepted. Time: 9:00 am Location: Antique Gas & Steam Engine Museum, 2040 N. Santa Fe Ave., Vista For more information call 760-941-1791 or visit www.agsem.com | |
July 31, 3rd Annual Doggie Street Festival Southern California’s Largest Dog Adoption Focused Festival. This event celebrates our furry friends and is dedicated to educating the public about pet care, training, spay/neuter and responsible adoption options. Besides traditional festival-type food and music, the event also offers pet merchandise, pet sitting services, and dog washing & grooming. Free admission. Time: 9:00 am – 4:00 pm Location: NTC Park at Liberty Station (Cushing Rd between Dewey Roosevelt Rds), Point Loma For more information visit www.doggiestreetfestival.org Are you considering a San Diego real estate investment? Moving to San Diego? Military transfer to San Diego? Perhaps you'll relocate between San Diego neighborhoods? And, checking out San Diego real estate agents? Then you should definitely check us out at http://www.realtorpeg.com |
Thursday, June 30, 2011
San Diego July, 2011 Things To Do!
Cinema Under The Stars in Mission Hills
There’s nothing quite as romantic as taking in an outdoor movie with that special someone on a balmy summer evening. The stars are out, the mood is light, and everything feels just right.
Cinema Under The Stars is a premier outdoor theatre in San Diego, and the perfect place to have such an experience. But don’t be mistaken, this locale is not only for lovebirds. The outdoor cinema is also an ideal experience to share with friends and family, or even to enjoy by yourself.
Cinema Under The Stars is showing classic movies all throughout the summer on their heated patio. The venue provides zero-gravity lounge seats that allow you to throw your feet up and enjoy the show. Other seating options include the deluxe love seat cabanas or a café table and chair. Coffee, tea, popcorn, and assorted candies are offered at the concession stand located on the premises. Pre-show entertainment is provided, so viewers are encouraged to arrive early.
Summer Line-up: Come watch as iconic beauties Marilyn Monroe, Betty Grable, and Lauren Bacall star in the first movie to ever be shot in CinemaScope: How to Marry a Millionaire. The story follows the sultry leading ladies in this 1953 film as they turn their chic Manhattan apartment into a hilarious mantrap. How to Marry a Millionaire will be playing on June 25 and 25, starting at 8:30pm. The following movies will also be playing in the month of June: Never Say Never Again and The Big Sleep.
The Cincinnati Kid, starring Steve McQueen, will be showing at Cinema Under The Stars on the dates of July 9 and 10, starting at 8:30 pm. This 1965 hit film follows the story of a young card shark as he plans to take on the infamous poker player Edward G. Robinson in one high-stakes game. This film also stars Karl Malden, Tuesday Weld, Ann-Margaret, and Rip Torn. July will bring movie-goers tons of other top films, including The Princess Bride, Vertigo, All About Eve, An Affair to Remember, Splendor in the Grass, Raising Arizona and Easy Rider.
In August, viewers are invited to watch Johnny Depp, Leonardo Dicaprio and Juliette Lewis star in the cult classic What’s Eating Gilbert Grape? The plot follows a young suffering boy as he struggles to live life with a missing father, an obese mother, a mentally-disabled brother, and two ill-tempered sisters. He trudges along until a mysterious and beautiful stranger offers him an escape from it all. This film will be showing on August 18 and 19; at 8:30 pm. August will showcase many other cinematic masterpieces, including Picnic, Rope, The Notebook, Charade, Bell, Book and Candle, Gilda and Breakfast at Tiffany’s.
For a full schedule of movie dates, please visit topspresents.com or call 619.295.4221. Admission costs $14 for Thursday and Sunday viewings, and $15 on Friday and Saturday. The box office opens at 6pm, the same time as on-site seat reservations are allowed. An annual membership is offered for $90, with additional perks. The cinema is located at 4040 Goldfinch St. in Mission Hills.
Survey Points to 2011 Bottom for Home Prices but No Strong Gains
After the headline news that home prices double-dipped, most forecasters are predicting a 2011 turning point for the U.S. housing market, according to the investment and risk management firm MacroMarkets.
The New Jersey-based company polled 108 economists and real estate experts this month from the likes of BBVA Research, George Mason University, and Wells Fargo to gauge their predictions.
Nearly two-thirds of the panelists believe the bottom for home prices arrived in the first quarter or will arrive sometime before year-end.
At the same time, though, the same 69 panelists who are currently forecasting a “turning point” this year believe we will be treading water for several years to come with only a nominal increase in home prices of less than 2 percent average annual growth through 2015.
Robert Shiller, namesake of the closely-watched Case-Shiller Home Price Index, is co-founder and chief economist for MacroMarkets.
While the 2011 bottom would be considered a turning point, Shiller points out that the consensus among the
panelists would best be described as a forecast of price stability rather than a rebound.
“A two percent a year home price increase will not inspire a lot of consumer confidence,” Shiller said. “Given prevailing inflation expectations, this forecast implies virtually no change in real home values going forward.”
Still, he says a “significant majority” of the panelists would label the end to the free-fall days as a crossroads for the U.S. market, “despite persistent macroeconomic uncertainty and unprecedented housing market dysfunction.”
Terry Loebs, MacroMarkets managing director, notes that the individual views of the panelists run a wide gamut.
He says looking at expected housing market performance through the five year period ending 2015, the most optimistic quartile of panelists projects 15.3 percent average price growth, while the most pessimistic quartile projects 6.0 percent average price erosion from the levels seen at the end of 2010.
“This spread is huge, representing almost $4 trillion in housing market value,” Loebs said. “This is a gut-wrenching time for market stakeholders and policymakers, because each of these scenarios is plausible.”
Overall, expectations reached their lowest levels in the June survey since the MacroMarkets panel was assembled over a year ago.
Loebs added a sobering comparison of this month’s survey data to that collected in December.
“This month, for all panelists, the average expected cumulative home price change between Q4 2010 and Q4 2015 is just 5.71 percent,” he said. “This translates to $1.2 trillion less in aggregate U.S. single-family housing wealth at the end of 2015 than projected just six months ago.”
via dsnews.com
Wednesday, June 29, 2011
San Diego Fireworks Schedule 2011
Mary "Peg" Heying
REALTOR® - CA DRE License # 01726709
Prudential CA Realty
890 W Washington St.
San Diego, CA 92103
Cell: (619) 301-8589
Email: realtorpeg@yahoo.com
Website: http://www.realtorpeg.com
Facebook: http://www.facebook.com/realtorpegsd
Twitter: http://twitter.com/realtorpegsd
Bank of America in $8.5B Mortgage Settlement
NEW YORK (AP) — Bank of America and its Countrywide unit will pay $8.5 billion to settle claims that the lenders sold poor-quality mortgage-backed securities that went sour when the housing market collapsed.
The deal, announced Wednesday, comes after a group of 22 investors demanded that the Charlotte, N.C. bank repurchase $47 billion in mortgages that its Countrywide unit sold to them in the form of bonds.
The group, which includes the Federal Reserve Bank of New York, Pimco Investment Management, and Blackrock Financial Management, argued that Countrywide enriched itself at the expense of investors by continuing to service bad loans while running up servicing fees.
Bank of America, which bought Countrywide in 2008 for $4 billion, has denied those claims.
Bank of America CEO Brian Moynihan said Wednesday that the settlement would minimize "future economic uncertainty" in the banking business and "clean up the mortgage issues largely stemming from our purchase of Countrywide."
For several months, Bank of America battled claims based on estimates "that were much different from ours," Moynihan said. But at this point, it made more sense to settle than to keep fighting, he said.
"We have said consistently if people are reasonable and can get to a reasonable assessment of their claims and it's in the best interest of shareholders, we will settle," Moynihan told Wall Street analysts in a conference call.
The settlement is subject to court approval and covers 530 trusts with original principal balance of $424 billion.
Citi analyst Keith Horowitz said the settlement, which amounts to only 2 percent of the original principal balance, removes one of the largest investor risks for Bank of America.
"We think this could prove to be a step forward" for Bank of America, Horowitz said. It would show investors that the bank can manage through crisis without raising additional capital.
As a result of the settlement, Bank of America put its second-quarter loss at $8.6 billion to $9.1 billion. Excluding the settlement and other charges, the bank expects to post a quarterly loss of $3.2 billion to $3.7 billion.
Shares of Bank of America Corp. jumped more than 4 percent, or 48 cents to $11.30 before the market opened, with investors happy that the bank can put very big uncertainty behind it.
Investors may now be more confident that they can get similar concessions from other major U.S. banks that created markets for mortgage-backed securities with questionable pedigrees.
Yet stocks in the financial sector were rising in electronic trading Wednesday, likely because the Bank of America deal presents a framework for others to follow.
REOs and Shorts Account for 48% of Pending Sales in California
Twenty-eight percent of homebuyers in California who signed their name on the dotted line last month are buying REO properties. At the same time, short sale deals made up some 19 percent of the state’s pending home sales in May.
These are the latest figures released by the California Association of Realtors (C.A.R.), based on contracts signed in May. The group’s pending sales data is generated from a survey of more than 70 local Realtor associations and multiple listing services (MLSs) throughout the state.
The total share of distressed homes under contract in the Golden State last month was unchanged from April at 48 percent.
While the distressed portion of pending sales held steady, the number of individual transactions rose as the state’s overall pending sales numbers increased.
C.A.R. says its pending sales index, on the whole, was up 1.6 percent from April’s reading and up 12 percent from
May 2010. It’s the first year-over-year increase recorded in 18 months.
“May marked the first year-over-year increase in pending sales since November 2009 and the largest annual increase since August 2009,” said Beth L. Peerce, president of C.A.R.
Peerce added, “May’s increase in pending sales is consistent with our expectation that home sales in the second half of 2011 should be higher compared with the second half of 2010, and as a result, annual sales for all of 2011 should match or exceed last year’s annual pace.”
While a 48 percent distressed market share is significant by all accounts, some areas of California are nearly fully saturated in distressed sales.
C.A.R.‘s data show that in Madera County, REOs and short sales claimed 90 percent of all pending sales last month, a jump up from 56 percent the month before.
In Lake County the distressed share in May was 80 percent, and in Solano County it topped out at 71 percent.
At the other end of the spectrum, only 17 percent of pending sales in Humboldt County were distressed. Marin County logged 28 percent, and San Diego County registered 29 percent.
Pending home sales are forward-looking indicators of future home sales activity, and C.A.R. says the data offer solid information on future changes in the direction of the market. A sale is listed as pending after a seller has accepted a sales contract on a property. C.A.R. explained that the majority of pending home sales usually becomes closed sales transactions one to two months later.
via dsnews.com
Pending California Home Sales Rise Slightly in May
California's mangled real estate market saw a sliver of promise Tuesday.
The California Association of Realtors said pending home sales statewide rose in May, the first year-over-year increase in 18 months.
CAR said its Pending Home Sales Index in May was 118.3, up 1.6 percent from April's revised index of 116.4 and a 12 percent gain over May 2010.
The index is based on contracts signed in May. CAR considers pending home sales an indicator of future sales activity.
"May marked the first year-over-year increase in pending sales since November 2009 and the largest annual increase since August 2009," said Beth L. Peerce, CAR president. "And as a result, annual sales for all of 2011 should match or exceed last year's annual pace."
However, like many statewide gauges of real estate, some areas are lagging.
In Sacramento County, for example, CAR said single-family distressed home sales comprised 65 percent of all sales in May, down from 67 percent in April but up from 62 percent in May last year.
By comparison, distressed home sales in Marin County comprised only 28 percent of sales in May. In San Diego County, it was 29 percent; in Humboldt County, 17 percent.
"Pending sales (statewide) are certainly a positive sign, but we've had a few false starts before," said Kris Vogt, president of Coldwell Banker Residential Brokerage's Sacramento-Tahoe region. " … The good news is there's more and more affordability and we're seeing a little more confidence in buyers. We need to get more unit sales to get to a turnaround."
Last week, CAR reported that the median sales price of existing single-family homes in Sacramento County in May was $168,200, compared with $170,270 in April and $191,430 in May last year.
Doug Covill, president of the Sacramento Association of Realtors, said a seasonal increase in sales is not a surprise but added, "I just feel like we're going to have a bumpy road here for awhile."
CAR said Tuesday that the share of all distressed property types sold statewide was unchanged in May from April's 48 percent, but that it was up from 46 percent in May 2010.
Tuesday's report also noted that 28 percent of distressed properties sold statewide in May were real estate-owned, unchanged from April but up from 26 percent in May last year.
The statewide share of short sales also was unchanged from April to May, standing at 19 percent. That was down from 20 percent in May 2010.
via sacbee.com
Tuesday, June 28, 2011
A fresh look at the downtown San Diego condominium market, San Diego Home prices
The last time I wrote about the downtown condominium market was just after we received the resale totals for 2010. I was somewhat stunned to learn that 2010 was the second best resale year in downtown San Diego history, barely lagging 2005's 722 sales. In 2010, resales averaged more than 60 closings per month.
This year looks like another winner, if, in fact, there is an adequate inventory of resales available. Two years ago, the number of resale units listed for sale downtown approached 600. Today, the inventory is at 300 units. And, for the most part, the bleeding (foreclosures and distressed sales) has subsided.
Through May, there were 400-plus resales in the downtown marketplace. If there is an adequate supply of resales available, it is possible that sales could surpass 2005.
Perhaps the most interesting aspect of the downtown condominium market today is the number of all cash buyers. In talking with Raye Scott and Francine Finn of Windermere Realty, they noted that in the first quarter of 2011, a mind-boggling 47 percent of all downtown units purchased were all-cash sales. That is up from the one-third average in 2010.
In the first quarter of 2011, there were four units sold for more than $2 million. That matches the $2 million-plus sales for all of 2010.
Of major significance, new resale highs per square foot were established in five high-rises downtown: Bayside, Park Place, Horizons, Alta and Electra. Bayside was the leader in this category with a sale for $868 per square foot.
Obviously, there has been a lot of money sitting on the sidelines waiting to pounce on good deals.
In terms of dollars per square foot in the entire resale market, sales in the first quarter averaged $361 exactly the same as two years ago.
In the new condominium market, there remain remarkably few units. In the high-end projects: Bayside, Breeza and Sapphire Towers, there are fewer than 100 units remaining among them. It is highly likely that all three will be sold out by year end. Bayside recently held a major marketing campaign and could very well be sold out by the end of summer.
In the modest priced projects, there is really one that is actively marketing: Smart Corner at 12th and Broadway. They have approximately 100 units left to sell.
To our knowledge, there is only one developer planning on moving forward with condominiums in the near future and that's Bosa. It is possible that they will break ground on their site behind Bayside in 2012, with completion in late 2014 or early 2015.
The last condominium project to break ground was in 2007, so there will have been a five-year hiatus in condominium construction activity. In the same vein, the last project was completed in 2009 and it will be five years before the next one is ready for move-in.
I don't think I am being naïve in stating that should our local economy remain modestly healthy that there will be a serious imbalance between supply and demand in the downtown condominium market. And that condition should lead to routinely higher prices for downtown condominiums.
There are several other condominium projects that are in an advanced architectural status, but the absence of construction for all but the strongest developers (like Bosa) should preclude the start of any new project.
Further, many of the sites once destined for condominium development are now in the hands of rental project developers who, for the most part, have abandoned the original plans on the sites and opted instead for lower-rise product. There will be a boom in rental apartment construction downtown over the next few years. And that's OK because we have had fewer than 400 market-rate rental units completed in the past five years and the market is strong.
The wild card in the downtown market is the money coming in from China. With condominiums wildly overpriced in London, Hong Kong and Shanghai, the Chinese are looking to other markets to park their money. They are a dominant force in Vancouver and starting to look at San Francisco. Perhaps we could be next. Time will tell.
via sddt.com
Distress Claims Smaller Share of Dwindling Existing-Home Sales
Distressed properties accounted for just 31 percent of existing-home sales in May, the National Association of Realtors (NAR) reported Tuesday.
The ratio of distressed homes – typically bank-owned or pre-foreclosure short sales – took a dive last month compared to earlier in the year. May’s market share is down from 37 percent in April and 40 percent in March. However, it’s right on target with May 2010, when distressed properties made up 31 percent of the month’s sales.Clear Capital says all spring and summer seasons, even since the 2006 downturn, see an increase in non-distressed sales volume, so a decline in the relative proportion of REO and short sales is pretty standard.
But last month, overall sales of previously owned homes dropped along with the distressed percentage.
NAR says its measurement of existing-home sales, which is based on transaction closings, fell 3.8 percent in May to a seasonally adjusted annual rate of 4.81 million and its lowest mark in six months.
The previous month’s figures were revised downward to reflect a 5.00 million annual sales pace. May’s numbers are 15.3 percent below the 5.68 million pace of May 2010 when sales were buoyed by the approaching deadline for the federal homebuyer tax credit.
The latest results from NAR were largely in line with market expectations. Median forecasts pegged the annual sales rate to come in at about 4.80 million. The number to hit for a “healthy market,” analysts say, is 6 million.
Total housing inventory at the end of May fell 1.0 percent to 3.72 million existing homes available for sale,
according to NAR’s report. That figure represents a 9.3-month supply at the current sales pace, up from a 9.0-month supply in April.
NAR’s data show that the national median price for existing homes sold last month was $166,500, 4.6 percent below the median price from a year earlier.
“Current housing market activity indicates a very slow pace of broader economic activity,” said Lawrence Yun, NAR’s chief economist. “The pace of sales activity in the second half of the year is expected to be stronger than the first half, and will be much stronger than the second half of last year.”
But for now, Yun blames the lending community and tight credit for restraining market activity.
“There’s been a pendulum swing from very loose standards which led to the housing boom to unnecessarily restrictive practices as an overreaction to the housing correction – this overreaction is clearly holding back the recovery,” he said.
Patrick Newport, U.S. economist with the research firm IHS Global Insight, disagrees with Yun’s charges. Newport says it all boils down to a lack of buyer demand.
“Indeed, one reason credit is tight is because the demand is weak,” Newport explained.
“This has led to falling house prices. Lenders have responded by tightening lending standards, since the collateral is losing value off the bat. Buyers have responded by sitting on the sidelines,” despite the improvement in housing affordability, Newport said.
NAR’s study showed that all-cash transactions stood at 30 percent in May, down from 31 percent in April. They were 25 percent in May 2010.
First-time buyers purchased 35 percent of the existing homes sold in May, down from 36 percent in April. They were 46 percent in May 2010 when the tax credit was in place.
Investors accounted for 19 percent of purchase activity in May compared with 20 percent in April and 14 percent in May 2010.
Regionally, NAR reported that existing-home sales were down in the Midwest, South, and Northeast, and flat in the West.
via dsnews.com
HUD, NeighborWorks Roll Out Emergency Program for Unemployed
Lost income from unemployment has left many homeowners unable to make their mortgage payments and pushed them to the brink of default, some into foreclosure.
Housing analysts and economists have become especially vocal about the effect of extended periods of joblessness on mortgage performance. The average duration of unemployment was 40 weeks in May, according to the U.S. Department of Labor.
On Monday, HUD and NeighborWorks America announced the roll-out of the Emergency Homeowners’ Loan Program (EHLP) to 27 states across the country and Puerto Rico.
The program will assist homeowners who have experienced a reduction in income and are at risk of foreclosure due to involuntary unemployment, underemployment, or a medical condition.
Under EHLP program guidelines, eligible homeowners can qualify for an interest free, deferred payment “bridge” loan which pays a portion of their monthly mortgage for up to two years, or up to $50,000, whichever comes first.
Congress provided $1 billion dollars to HUD, as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, to implement EHLP. A total of 32 states and Puerto Rico have been slated to receive funds to help unemployed homeowners in their communities.
In April, HUD deployed an initial round of funding, totaling $198 million, to five states that are administering EHLP directly: Connecticut, Delaware, Idaho, Maryland, and Pennsylvania.
The balance awarded under the program — $802 million – is being deployed among the remaining 27 states and Puerto Rico, where EHLP will be administered by NeighborWorks.
The remaining states include: Alaska, Arkansas, Colorado, Hawaii, Iowa, Kansas, Louisiana, Maine, Massachusetts, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Mexico, New York, North Dakota, Oklahoma, South Dakota, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.
EHLP will pay a portion of an approved applicant’s monthly mortgage, including missed payments, past due charges, taxes, insurance, and attorney fees.
There’s a rather short window for the program, so Eileen Fitzgerald, NeighborWorks CEO, is encouraging homeowners to apply now in order to find out if they qualify for this new mortgage assistance program.
Documentation for pre-applicant eligibility screening must be submitted to a participating EHLP agency by July 22, 2011. The homeowner application period will not begin until late July 2011.
HUD says EHLP is expected to aid up to 30,000 distressed borrowers, with an average bridge loan of approximately $35,000.
Additional details on the program are available on NeighborWorks’ website, along with a searchable database of the EHLP housing counseling agencies serving specific communities.
EHLP is a complement to the Hardest Hit Fund which makes available $7.6 billion to 18 states and the District of Columbia where housing markets have been acutely impacted by unemployment and falling property values. HUD says with Monday’s EHLP launch, mortgage assistance is now available for unemployed and underemployed homeowners in every state.
“Through the Emergency Homeowners’ Loan Program the Obama administration is continuing our strong commitment to help keep families in their homes during tough economic times,” said HUD Secretary Shaun Donovan.
The U.S. House of Representatives voted to pull the plug on EHLP in March, faulting the program as “excessive government spending” at a time when the nation itself has hit its debt ceiling and a fierce tug-of-war is underway in Washington over the federal budget and growing deficit.
The House-approved bill to terminate the program, as well as three others to end federal housing initiatives, never made it out of the House to the Senate. The White House vowed to veto all measures had they made it that far.
via dsnews.com
Monday, June 20, 2011
What's In and Out in San Diego Home Remodeling
Homeowners now want smaller, cheaper, greener — and for the long haul
By Lily Leung
Photo by John Gibbins - Union-Tribune staff
Vladimir Turouskiy strips the kitchen of Santee resident Donna Covington, who is remodeling her home little by little as she gets ready to retire.
What to ask before remodeling
• It’s a geographical question. Are you buying in the area you want to stay for a while or will you be leaving after three to five years?
• If you’re in it for the short term and are in a position to sell, consider cosmetic improvements, such as a coat of paint.
• If you’re in it for the long term, consider structural changes if they make sense for your lifestyle and needs. For example, a room addition may make sense if you are planning a large family.
Tips on finding a contractor
• Research how long the company has been in business.
• Check the company’s rating with the Better Business Bureau at www.bbb.org
• Find out if the remodeler has enough workers’ compensation and general liability insurance.
• Don’t be shy about asking for references of previous customers and photos of previous work.
• Be sure you are comfortable talking to the remodeler. You will be working with this person for a long time.
• Commit only to a contract that’s complete and written clearly.
• Be wary of estimates that are lower than the industry standard.
Source: National Home Builders Association.
For the past five years, Donna Covington has worked an extra 20 hours a week as a private nurse to pay off the mortgage on her Santee home. She had enough left over to finance her No. 2 priority: remodeling a kitchen and bath made drab by “cheap, apartment-looking cabinets” and outdated appliances.
“I still have the rest of the house,” said Covington, 62. “I want to get everything done before retirement.”
More homeowners in San Diego County and throughout the U.S. are following Covington’s lead. They want small makeovers instead of the mega-upgrades of the boom times in 2005-06, are paying with cash instead of tapping into once-lush home equity lines and plan to stay put for a while in the face of fallen home values.
The purpose of remodeling also has changed. In the past, people mainly made alterations and additions to increase home values. Now they’re done more out of necessity: from upgrading to “green” appliances to save on energy costs to adding shower grab bars to make the bath more accessible as homeowners age.
Home remodeling overall increased throughout the U.S. and in the West last quarter but is still lower than during boom-time peaks, as property owners remain leery about the benefits of home remodeling.
According to the National Association of Home Builders, the West’s index for the current market for home additions and alterations was 46.1 in the first quarter, up from 39.7 the previous quarter and down from the peak of 58.7 in late 2004. An index reading below 50 means that a majority of remodelers surveyed by the group reported declines in the market.
“If your mortgage is underwater, you can’t borrow,” said Kermit Baker, chief economist for the American Institute of Architects. “That’s a psychological barrier. … Even if you do have the cash for it, you’ve really scaled back on the work.”
For those who are remodeling, three themes have emerged. Homeowners are exploring smaller and cheaper improvements, adding “green” upgrades and changing interiors to “age” in place.
- Photos courtesy of Marrokal Design & Remodeling
Examples of clean and simple from jobs done by the home designers and remodelers from Marrokal Design & Remodeling in San Diego.
Smaller and cheaper
What’s out: Ornate and Old World Tuscan.
What’s in: Clean, simple and contemporary.
“People are looking toward simplifying things given their economic situation,” said John Mills Davies, design director at Marrokal Design & Remodeling in San Diego.
“They’re pulling back from the ostentatious, mansion look,” he added.
Covington, the homeowner from Santee, is an example of someone who wants to redo her whole home, but since she’s on a $50,000 budget, she’s focused for now solely on the kitchen and an adjacent bathroom.
During the peak of the home market, homeowners often added a room while redoing the kitchen, a package that would cost about $120,000 to $150,000 back then, said Gregg Cantor, president of Murray Lampert Construction in San Diego.
If you do just a kitchen and bathroom, that’s about half as much, he said.
“People just don’t have the budgets to do major remodels,” Cantor said.
Green features
What’s out: Being green because you’re supposed to.
What’s in: Being green to save on energy and water costs.
The interest in renovating a home with eco-friendly features has been higher than ever, but once consumers hear the initial costs of the equipment, their interest tends to wane, said Baker, the economist with the national architects’ group.
Their interest tends to be renewed once they hear about the long-term water and energy savings.
Consumers in California could save about $345 over five years by replacing a fridge built between 1993 to 2000 with a newer one awarded the government’s Energy Star approval, according to a savings calculator on the energystar.gov.
Still, homeowners likely will shy away upon hearing the average cost of “green” products is about 15 percent more than the usual alternative, said Cantor, of Murray Lampert.
Photo by Peggy Peattie - Union-Tribune staff
Enid Comstock spent $30,000 of her own money to re-do her bathroom with tiles, new fixtures, wider areas, a new closet, drawers and mirrors. She hopes to stay in her Rancho Bernardo home for a long time. Work was completed by Murray Lampert Construction in San Diego.
- Photo courtesy of Enid Comstock
What Comstock's bathroom looked like before the remodel.
Aging in place
What’s out: Renovating to boost style and home values.
What’s in: Renovating for purpose.
As home prices remain far below the market peak, baby boomers, 78 million in all, are contemplating staying in their homes for longer than they expected, many through retirement.
Many want to add features, such as grab bars and ramps, to modify their homes to help them “age in place.”
“It could be as simple as widening a doorway that makes the space more accessible and user-friendly,” said Lindsay Hester, owner of Hester Interiors in San Diego.
Enid Comstock, 81, redid her cramped bathroom and other parts of her Rancho Bernardo home to make it easier for her to get around and to get to pantry items, after taking a bad fall last year that left her less mobile.
After a $30,000 renovation — paid for with hard-earned savings — Comstock can now has a walk-in shower equipped with a bar she can grab while showering.
She also added pullout shelves for easier storage and two oval mirrors that tilt down low enough for wheelchair users.
“I am very pleased with the work they did,” Comstock said. “Before (the bathroom) was a danger for a woman my age.
via: http://www.signonsandiego.com
Are you considering a San Diego real estate investment? Moving to San Diego? Perhaps you'll relocate between San Diego neighborhoods? Looking for a San Diego real estate agent? Then you should definitely check us out at http://www.realtorpeg.com - You'll be glad you did!
Wednesday, June 15, 2011
Where Real Estate Listings Fail - Pitfalls of OnLine Searches
As buyers wade back into the market, there's plenty of information to be found online. And that may be more trouble than it's worth.
![[smhomeinternet]](http://s.wsj.net/public/resources/images/PF-AA621_smhome_F_20110607175828.jpg)
Getty Images
Earlier this year, a client asked Troy Deierling, a realtor in Sedona, Ariz., to set up appointments for three homes he'd seen online. Those viewings never happened: In spite of their supposedly current listings, Deierling discovered the properties had already sold. One had been off the market for three months.
As home buyers cautiously re-enter the market, they're arming themselves with information found online far more than existed pre-housing crash. A record nine out of 10 house-hunters searched online last year, according to the National Association of Realtors; around 15 million people now visit 6-year-old listings site Trulia.com each month. But with this great migration online has come a new set of obstacles, including errors, out-of-date information, and properties that are listed on the web but aren't actually for sale all of which can add up to a handicap for buyers. "You're probably going to get exposed to inaccurate information," says H. Pike Oliver, executive director for industry outreach at Cornell University's Program in Real Estate. "There's no real assurance."
The most common problems are simply errors -- listings that advertise gas heating when in fact the house runs on electric heat or a price cut that hasn't been updated online. But in some cases, "mistakes" may be intentionally misleading, such as touting a partly-finished basement as fully redone, or describing a kitchen as "eat-in" but only "if you were standing [up] with your plate," says New Jersey real estate broker Paul Howard. These discrepancies often appear on the listings that are posted on the Multiple Listing Service, an online database that listing agents are expected to keep current, he says. Separately, around 21% of the data realtors individually submit for posting on real estate web sites is not updated when changes are made to the price or when the property is sold, according to a report released last month by Trulia.
Of course, online misinformation is hardly unique to real estate listings. But because many of the online services are relatively new, and people buy houses so infrequently, home buyers may be less attuned to misinformation than, say, online daters. In general, it requires much more skepticism and diligence by buyers, experts say. For example, some real estate agents keep listings on their personal web sites long after they've sold; when home buyers contact the agent inquiring about the property, they're instead pitched new properties that might not meet their criteria, says Leonard Baron, principal of real estate consulting firm LPB Services and a lecturer at San Diego State University. Such lagging information is more common with smaller firms' web sites and could be a function of real estate agents simply forgetting to update those listings, says a spokesman for the National Association of Realtors. Either way, for buyers, it's a waste of time.
Online listings also seem to level the playing field when it comes time to make an offer, by including sales history and the number of days on the market information most buyers could previously get only from an agent. But "there are a lot of games that are played with 'days on the market'," says Mark Weiss, director of business development at Trulia.com. Properties that are listed for months can get removed from listing sites only to reappear as a new property for sale a few weeks later. That could be because a new listing agent has taken it over, says Baron; in some cases, a realtor can make a listing look new by taking the house off the market for a few weeks.
Popular real estate listing web sites say they try to update information often and they're on constant lookout for errors, but many sites rely on a feed from the MLS, which means it's largely the responsibility of individual realtors to update their listings. On Realtor.com, listings are revised daily as properties' status change, says the NAR spokesman. Trulia.com, which is where Deierling says his client found outdated listings, says it receives seven to eight million listings every day and it prioritizes information that arrives directly from franchises, brokers or MLS feeds. And like Trulia, Zillow says its goal is to give buyers easy access to a lot of information about nearby home values and market trends that can better inform buyer decisions.
For their faults, these web sites still offer home buyers more information than what was available even a few years ago. And that can help them make a more informed decision and eventually, an offer on a property. The point, consumer advocates say, is not to put too much faith in the information contained in a listing. The old shoe-leather tactics like talking to neighbors, getting crime reports from the local police, and asking a real estate agent to pull recent sales prices of similar homes nearby will trump most of the data in an online listing. "It's a reasonable way to start the search but not to finish it," says Barry Zigas, director of housing policy at the Consumer Federation of America, a consumer advocacy organization.
courtesy of: www.smartmoney.com
5 Tips Turn A Trip Into A Vacation
By Kim Grant, ksl.com Contributor
For many families a common saying is that traveling with children constitutes a “trip," while traveling without them is a “vacation.” Here are a few simple tips that will allow for more vacationing this summer, regardless of the location.
Tip No. 1: Learn as much as possible about a travel destination before getting there is a must. What are the surrounding towns or cities? What sights are there to see? How will you navigate highways and streets? It’s easy to find much of what is needed to know in advance by using the Internet.
As for what to see, most theme parks and museums have websites that will list hours of operation, show times, prices and discounts available. They also let visitors purchase tickets beforehand and list if there are strollers or wagons for rent or if there are special arrangements that can be made for babies and toddlers as well. For cruises, fill out pre-boarding information, sign up for tours and pay gratuities in advance so that you spend less time waiting and more time enjoying.
Many tourism bureaus for large cities have packets available which list well-known and lesser known events and will often give you great deals on attractions, dining and lodging. Many cities like L.A. and San Diego offer a City Pass for several attractions at one low price. Or order an Entertainment discount book in advance for your destination to save on parks and restaurants.
Tip No. 2: Make an itinerary. It doesn’t have to be set in stone, but it helps to have a basic a direction to follow. Let children participate in the planning process so they can feel included and more excited about what they’ll be seeing. Also, have a back-up plan, which includes nearby sites that might otherwise be overlooked, for inclement weather or other unforeseen obstacles. Many wonderful museums have been discovered this way!
Make sure that master list has important addresses, phone numbers and contact information for the places that you'll be visiting. It’s handy to have it all in one place when you’re pressed for time.
Don’t forget maps or consider renting a GPS navigation unit. Circle or highlight the places you’ll see for a visual aid and to give you an estimate on travel time. Also, ordering brochures and promotional videos about your location beforehand can orient the family so sights seem more familiar. A fun game is to cut out pictures and make a travel “bingo” game personalized to a vacation where children mark off landmarks they’ll be seeing.
Tip No. 3: Don’t make getting there ruin the fun. Whether flying, driving or cruising there are important things to consider in advance. For those flying, remember that security at airports keeps getting more complicated each year. Most airlines recommend arriving at the airport an hour before domestic flights and two hours before international flights.
The American Society of Travel Agents suggests reviewing screening procedures with children so they won’t be afraid. Keep all identification in the same place or purchase identification folders that hang around each person’s neck for quicker processing as well. Medex Assistance, a global emergency-assistance company, recommends making sure children are “tagged” with a cellphone number or an emergency contact number in case they get separated. Also, carry a recent photo of any children.
For short flights, make sure you have a few snacks on hand and easy access to favorite toys. For longer trips, a little more planning can make your flight bearable. When reserving airline seats, look for the forward bulkhead rows and then wait until the last minute to board with fidgety children. Also, get up and walk frequently up and down the aisles. Keep an assortment of new toys on hand as well such as travel-sized games and books that take up little room. You can even wrap special toys to be opened at predetermined intervals along the trip.
To avoid motion sickness whether on flights or in cars, make sure all children, especially those under 4-feet-9-inches are elevated in a car or booster seat so they can look out. Also, consider investing in a seat organizer where toys and snacks can be at the child’s grasp. Take frequent breaks (about 20 minutes for every two hours of driving) at a park or rest stop along the way. Travel games are a must, even if they’re the inexpensive classics of travel bingo, license plate round-up or “slug” bug. Reward children with small prizes for every set number of miles traveled.
Tip No. 4: Bring the comforts of home. When Kory and Laurel Christensen of Kaysville, Utah, travel, they may call their destination their “different home,” but often it can take awhile for new surroundings to become familiar. So they bring some reminders of home that make their children feel less “uprooted.” A favorite toy, movie or security items like blankets and “woogies” are a must. Take a favorite book to tuck them in at night and don’t forget a nightlight so they don’t become disoriented in the dark if nature calls.
Tip No. 5: Try to relax. In the end, nothing ever goes completely as planned. Children get sick, the weatherman forecasts nonstop rain and it’s rare to be able to see and do as much if there are children on board. So try and be flexible and accept the added challenges that come from traveling with children.
via: http://www.ksl.com
Are you considering a San Diego real estate investment? Moving to San Diego? Perhaps you'll relocate between San Diego neighborhoods? Looking for a San Diego real estate agent? Then you should definitely check us out at http://www.realtorpeg.com - You'll be glad you did!
Tuesday, June 14, 2011
Movoto Says Home Listing Prices are Rising in Major Cities
The median listing price in 16 major metropolitan areas rose in May, according to one real estate listing website, leading analysts to believe the market may be hitting bottom.
Movoto found the median listing price increased 2.5% from April to May to $246,000. Movoto compiles data from multiple listing services in 16 major cities around the country including Atlanta, Dallas/Fort Worth, San Diego and New York. The report did not break down the statistics per city, but rather created a national trend.
The Standard & Poor's/Case-Shiller index recently reported the median home sale price fell to levels seen in 2002 during the first quarter. Standard and Poor's reports the home sale price as opposed to the listing price, which is what Movoto reports. The indication of the two sets of data together is that house sellers are asking for more, while buyers want to pay less.
Marc Brandemuehl, vice president of marketing at Movoto, said while the numbers are encouraging, they do not signal a recovery. Instead he said prices are incrementally gaining strength and should keep trending in that direction.
"I'm not too sure May price[s] mean recovery because there are still so many properties in the foreclosure system," Brandemuehl said. "We feel the real estate market has bottomed out. We don't see that happening again unless there are some big changes made in the mortgage market."
Just as list prices increased in May, so did the amount of inventory on the market. According to Movoto, about 494,200 homes were for sale last night, up from 488,100 in April.
Homes for sale that are less than $100,000 — usually distressed or real estate owned — fell to 28.1% of market inventory in May. This is the first time all year those homes did not comprise the majority of homes on the market.
"People are snapping up the lower priced homes," Brandemuehl said. "People are realizing these homes are really a bargain."
Homes in the $250,000 to $500,000 range make up the largest share of inventory at 29.3%, according to Movoto. Almost 24% of market inventory is attributable to homes between $150,00 and $250,000, while homes more than $500,000 account for 18% of the sale market.
Write to Christine Ricciardi.
via: www.housingwire.com
Monday, June 13, 2011
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| Chart: Fannie Mae 4.0% Mortgage Bond (Friday Jun 10, 2011)  | ||||
| After last week’s quiet economic report calendar, this week’s calendar is jam-packed. Look for:
Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result. As you can see in the chart below, Bonds and home loan rates continue to improve, though as discussed above, volatility remains rampant. Give me a call or send me an email if you have any questions at all about your personal situation. ----------------------- |
 | The Mortgage Market Guide View... |
Saturday, June 11, 2011
San Diego Home Sales - Know Your Local Market
RISMedia, June 8, 2011—New listing prices, which lead transactions by three to six months, are already up 8.7 percentage points over the March trough, an indication that sellers are pricing more confidently, says Scott Sambucci, vice president of market analytics for Altos Research in a Webcast for customers.
But he warned that we’ve entered a new market environment that won’t be easy to forecast.
“We’re entering the catfish recovery. What is the catfish recovery? Housing prices will find their way back to a fairly stable and sustainable place near the bottom and they’ll stay there for a while. Catfish live on the bottom of lakes and streams, bobbing up and down, moving around without any clear direction. The housing price trend will look like the path of a swimming catfish, and that’s why it’s the catfish recovery,” says Sambucci.
Sambucci says Altos’ Mid-Cities Composite, which consists of 20 mid-sized markets, is less volatile that Case-Shiller’s 20 major markers. During the housing crash it exhibited less downside and more seasonable stability but the same market trends. The composite’s markets had less subprime financing and were a mix of bubble and non-bubble markets.
“The double dip is simply the beginning of the next market cycle,” Sambucci says. “We’re heading into the single best time to make money in real estate, but only for smart people.”
Smart people recognize that the market is volatile, he says. Alto has measured 12 percent annual volatility in its own composite. They also know their local markets, where timing is everything. Even within a zip code prices vary greatly and investors must understand what local factors affect the market.
“Volatility means profit with the right information,” Sambucci says
via rismedia.com
Friday, June 10, 2011
How Short Sales Can Be the Top Clique in Real Estate
RISMedia, June 7, 2011—As time goes on, the landscape of our real estate industry is beginning to look more and more like a high school campus. We have cliques, and whichever one is on top at the time looks down on the others as inferior. However, our cliques don’t have names like “popular,” or “troubled,” or “wannabes.” Instead, we have Traditional, REO, and Short Sale.
Originally, the clique on top of our industry was Traditional sales. Traditional sales can be likened to those kids years ago who were “popular” because they were very status quo. They had few blemishes, never caused any problems, and did what was expected. Traditional held the top spot for many years, and no one ever thought they would be outnumbered.
Then came the onslaught of REOs. Suddenly, this “troubled” group had a lot of backing, and they were the clique on top. Similar to troubled youth classes, REOs were not what any society wanted to deal with, but attention was given to them and they gained notoriety because of their superior numbers.
Today, there is another clique deserving to have their day in the spotlight, and that is Short Sales. Short Sales are the “wannabes.” They are never quite as perfect as Traditional, because they always have a streak of trouble running through them. However, they are nowhere near as troubled as REOs because they are working to keep from falling to the bottom. And like the “wannabes” in high school, the thing preventing Short Sales from raising their popularity level is the lack of a helping hand. People are always willing to help those on top, because they want to be associated with the best, and they will help those most troubled because they need the most assistance. The ones in the middle get left behind because they are seen as the ones who need the least attention, but there is nothing further from the truth.
With that in mind, our industry needs to lend a helping hand to Short Sales. It’s easy to forget about them or pass them by because of how frustrating they are. You never want to continually spend time on a project where you have put the time and effort into it time and time again, only to lose the deal—whether it was because the servicer was difficult to communicate with, or because the homeowner lost interest during the long process ultimately leaving you with nothing. Why would you ever want to try that again? However, it is because of these problems that we need to give Short Sales the help they need so they can become popular, allowing our industry to become as important as it once was, and as it should be again.
In order to accomplish this goal, we need to come together and settle on one way of pushing Short Sales through the system in a quick and efficient manner. Current homeowners who are eligible for a Short Sale often avoid the process because either they hope it will go away if they ignore it, or they just don’t have the proper information about it.
And why don’t they have the information? Because we in the industry haven’t settled on one way to get the process done, and haven’t made the information readily available.
The systems are out there. There are manual versions, online versions, and versions that use several different means to complete the sale. We could look to an established company, or we could look at a company new to the industry, which has an efficient product.
It doesn’t matter which one comes out on top. All we have to do is choose one, and have everyone get on board with the process, from agents, to servicers, to the GSEs. However, the system we choose must work for all involved in the sale. It must have clear communication between all parties. Each person involved in the transaction must be able to see what is going on, and when. Everything needs to be documented, so when a task isn’t completed by its set deadline, we know who the responsible party is for holding up the sale. But most importantly, we must all support the chosen system. Short Sales will never have the chance to become important if we don’t provide a united front for them.
Homeowners can be educated—and as we all know—the more you know about a situation, the more comfortable you are with it. If we all provide the same information to everyone, and have it readily available, homeowners will feel a comfort level with the Short Sale process, which will ultimately help push Short Sales through the system and get our industry back on track.
Choosing the right system and sticking to it will be the helping hand that Short Sales need. They will finally be pulled from the shadows and can be as popular as Traditional sales once were, and REOs are now. The new clique on top of our industry can be Short Sales, but only if we as the mentors of the industry can come together to choose a united approach, and give the advice needed to put the Short Sales clique on top.
via rismedia.com
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