Tuesday, April 30, 2013

Wall Street investment firms are feverishly grabbing single-family homes,


Wall Street investment firms are feverishly grabbing single-family homes, the Washington Post reports.



Wall Street's been buzzing about this trade for a while.



Institutional investors are taking advantage of cheap inventory, combined with our low interest rate environment, to make double digit returns from renting or re-selling homes. As a result, markets in some places are recovering rapidly — Phoenix, for example, has seen single-family home prices rise 23% in the past year.



There are questions as to whether this situation is good for the average consumer. If prices rise while jobless rates remain high, it could take longer for the "end-user" of a property to raise the cash to afford a home.



From WaPo:



“Clearly the investors are moving markets in some places,” said Dean Baker, co-director of the Center for Economic and Policy Research and author of a popular housing blog. “In some markets at the bottom end, you are looking at 30 or 40 percent gains year to year. That is frightening to me. At some point the music stops. The investors if they get hurt, that is their problem. But invariably a lot of other people will get caught up in that.”



How big is this? Here are a few numbers to give you an idea of how dominant institutional investors are in this space.



Institutional Investors account for as much as 70% of single-family home purchases in some Florida markets.

A recent JP Morgan report says Wall Street has raised $10 billion for this trade. That's enough to buy 15% of all bank owned homes in the U.S.

Cash buyers (who are mostly investment firms) currently buy up 32% of home sales nationally according to the National Association of Realtors.

Blackstone has put together a portfolio of 20,000 rental properties worth $3 billion in the last year alone. The firm has 150 homes in Palm Beach Florida and 500 in the Miami/Broward area reports the Palm Beach Post.

As a result of all this, renters occupy 35% of single-family homes, up 30% since 2005, according to Bloomberg.








Business Insider

While Wronged Homeowners Got $300 Apiece in Foreclosure Settlement, Consultants Who Helped Protect Banks Got $2 Billion


The obscene greed-and-arrogance stories emanating from Wall Street are piling up so fast, it's getting hard to keep up. This one is from last week, but I missed it – it's about the foreclosure/robo-signing settlement that was concluded earlier this year.




The upshot of this story is that in advance of that notorious settlement, the government ordered banks to hire "independent" consultants to examine their loan files to see just exactly how corrupt they were.



Now it comes out that not only were these consultants not so independent, not only did they very likely skew the numbers seriously in favor of the banks, and not only were these few consultants paid over $2 billion (over 20 percent of the entire settlement amount) while the average homeowner only received $300 in the deal – in addition to all of that, it appears that federal regulators will not turn over the evidence of impropriety they discovered during these reviews to homeowners who may want to sue the banks.



In other words, the government not only ordered the banks to hire consultants who may have gamed the foreclosure settlement in favor of the banks, but the regulators themselves are hiding the information from the public in order to shield the banks from further lawsuits.



Secrets and Lies of the Bailout



To recap: in the foreclosure deal, 13 banks agreed to pay a total of $9.3 billion to settle their liability in a number of areas, including robo-signing, which is just a euphemism for mass-perjury – robo-signing is the practice of having low-level bank employees sign documents attesting to full knowledge of case files in court foreclosure actions, when in fact they were signing hundreds of files per day, often having no idea whether the paperwork was correct or not.



It was done across the industry and turned housing cases across America into nightmares of jumbled and/or forged paperwork, in which even people who did not deserve to be thrown out of their homes were uprooted thanks to systematic errors by faceless bureaucrats who cut legal corners purely to save money.



All the major banks were guilty on a mass scale, but they worked with federal regulators like the Fed and the Office of the Comptroller of the Currency to secure this wide-ranging, industry-saving settlement, which not only covered the robosigning epidemic but a host of other bad or illegal practices, like the wrongful denial of modifications and the improper levying of (often hidden) fees.



Minus this crucial settlement, banks would have faced enormous uncertainty about their legal liability going forward, and getting a deal that not only gave these companies some legal closure but allowed them to pay pennies on the dollar for their illegal activity was a massive coup for the whole finance sector.



Only $3.6 billion was earmarked for cash payments to the nearly 4 million homeowners covered in the settlement. Most of the remainder of the deal was in other forms of non-cash relief, i.e. modifications or principal reductions.



Now, at the time of the deal, press releases by the Fed and the OCC stated that part of the reason they'd fixed on that particular settlement amount was that regulators had uncovered that banks had made errors or committed illegal acts in about 6.5 percent of the mortgage files reviewed. In other words, the error rate was an important component of this calculation.



But it turned out that this error rate had been calculated with the help of several consultant firms regulators had ordered the banks to hire. Regulators had mandated the hiring of these "independent" consultants back in 2011, and the list of companies included Promontory Financial Group, PricewaterhouseCoopers, Ernst & Young, and Deloitte & Touche. These private firms were hired to review the banks' loan files in search of errors, and collectively were paid by the banks over $2 billion, a staggering sum which ultimately worked out to over $20,000 per file.



With such highly-paid help, it would seem impossible that these consultants could screw up so simple a task as figuring out how many of these mortgage files were corrupt. Regulators came up with the 6.5 percent number this past January, then shortly afterward revised the number downward, saying that only 4.2 percent of some 100,000 mortgage files reviewed were compromised.



But that low number stank so badly that even the Wall Street Journal was moved to check it out, and in late February, in a story called "Foreclosure Files Detail Error Gap," the paper discovered that the error numbers were almost certainly very much higher. From that piece:



A breakdown of the information provided to the regulator shows that more than 11% of files examined for Wells Fargo WFC +0.39% & Co. and 9% of those for Bank of America Corp. had errors that would have required compensation for homeowners, said people who have reviewed the figures. A narrower sample of files – representing cases selected by outside consultants – showed error ratios of 21% for Wells Fargo and 16% for Bank of America, the people said.



The OCC findings appear skewed by the outsize contribution of one bank, J.P. Morgan Chase JPM -0.39% & Co., which reported an error rate far below rivals that oversaw a much larger universe of loans.



J.P Morgan was responsible for more than half of the completed files counted in the OCC review and reported compensation-worthy errors in just 0.6% of cases, according to people familiar with the figures.



So you have numbers from all of these other banks coming in at 9 percent, 11 percent, even 21 percent, and yet somehow J.P. Morgan Chase came in at 0.6 percent. The OCC just took the Chase numbers and averaged them together with the rest and ultimately came up with the 4.2 percent number.



So how did Chase come out so squeaky clean? Well, it seems they developed quite a rapport with the government-mandated consultants who were hired to review their loan files. This is from that WSJ report:



Two Deloitte employees who performed the review for J.P. Morgan in a Brooklyn office building said workers were encouraged by supervisors to examine pools of loans they knew would be less time-consuming or error-prone as they tried to hit loan quotas.



One of these employees said that at an event last year known in the Brooklyn office as "March Madness," Deloitte officials encouraged reviewers to avoid problematic loans originated by EMC Mortgage, a troubled mortgage lender J.P. Morgan acquired in 2008.



So basically Chase allegedly warned the consultants off their problem loans and incentivized the consultants to examine the less-fucked-up loans. Employees of another of Chase's auditors, Promontory, were reportedly given gift cards of up to $500 for "completing a certain number of files quickly."



The whole thing was a joke. Government orders banks to hire auditors to investigate robosigning, then banks induce said auditors to robosign the investigation! Because that's exactly what that would mean, if there were financial incentives to finish masses of files quickly. It's horrible, obviously, but on another level, it's so ingeniously corrupt, one almost has to tip a cap to whoever thought of it.



Incidentally, what were Chase's real numbers? I mean, if it hadn't been a consulting firm hired by Chase for buttloads of cash to do the study, what might an auditor have concluded? Well, as reported by (among others) David Dayen at Naked Capitalism, we got a glimpse into one possible truth when the HUD Inspector General released a report that included an ad-hoc survey of Chase loans:



For Chase, we also reviewed 36 affidavits for foreclosures in judicial States to determine whether the amounts of borrowers' indebtedness were supported. Chase was unable to provide documentation to support the amounts of borrowers' indebtedness listed on the affidavits for all except four. When we reviewed the four affidavits, three were inaccurate. Specifically, the amounts of the borrowers' late charges and accumulated interest did not reconcile with the information in Chase's mortgage servicing system.



As Dayen jokingly pointed out, that means the gap in the stats was relatively small – Chase's loans were either 97.2 percent fucked (as HUD found), or 0.6 percent (as Chase/OCC found). Somewhere in between there.



Anyway: In March, a Washington law firm called Williams and Connolly sued the OCC for failing to properly ensure that the auditors would be truly "independent." The firm declined to say on whose behalf it was suing. Around the same time, members of congress like the House's Elijah Cummings and new Massachusetts Senator Elizabeth Warren started to become interested in these consulting arrangements, expressing concern that perhaps the settlement number had been reached in error.



Fast forward a few weeks. It's April 11th, and Warren, along with Sherrod Brown and Jack Reed, held hearings on this whole issue, bringing in officials from the OCC along with some of these consultants to get to the bottom of a number of issues, including, most importantly, how the settlement was calculated, and who decided who would receive how much compensation.



There were two major revelations from these hearings, in addition to the ongoing revelation that the suits who people the country's financial regulators are sniveling, obfuscatory weasels who clearly view the banks they're supposed to be regulating as a bunch of stand-up dudes while the taxpayers who are always demanding this or that (and the politicians who represent them) are humorless pains in the ass.



In terms of new revelations, the first was this one, a real shocker: that apparently, it was not even the obscenely overpaid, lapdog consultants who made the final decisions about which homeowners fell into which boxes in terms of settlement compensation. Incredibly, it appears that the banks themselves were allowed to do that sorting process!



This came out when Warren was interviewing private consultants from PriceWaterhouseCoopers, Promontory, and Deloitte and Touche:



Senator Warren: I just want to take a look at the Independent Foreclosure Review Payment Agreement details. I think you've probably all seen this one page agreement that lists all of the things that the banks did wrong and then boxes for how many people fall into each category and how much money they're going to be paid. Is that right? You've all seen this? [Panel indicates they have seen it.] And this was put out – who put this out? I think this is put out by the OCC and Federal Reserve. Is that right? As part of the settlement details.



In the settlement there is a one-page document that lists all the various misdeeds the banks engaged in during the foreclosure process, then goes on to list how many homeowners were victimized by each activity. Warren is showing this document to these consultants and she's asking them, did you prepare these statistics? She goes on – listen to the answers from the auditors:



Senator Warren: So I just want to ask you about this. It has some pretty amazing categories here. The first category is about service members who were protected by Federal law whose homes were unlawfully foreclosed. It's got people who were current on their payments whose homes were foreclosed. It's got people who were performing all of the requirements under a modification who lost their homes to foreclosure. And it tells how many people fall into each category and how much money the people in that category will receive. And, it ultimately resolves what will happen to 3,949,896 families. So the question I have is having resolved this for nearly 4 million families, who put the people, the families, into each of these boxes. Is that what your firms did, Mr. Ryan?



Owen Ryan, Partner, Deloitte & Touche LLP: No, Senator, we did not.



Senator Warren: So who put them in?



Ryan: I'm not sure how that schedule is prepared. I saw it for the first time yesterday.



Senator Warren: Mr. Flanagan?



James Flanagan, Leader, U.S. Financial Services Practice, Pricewaterhouse Coopers LLP: Same response. We were not involved in the accumulation of that information.



Senator Warren: Mr. Alt?



Konrad Alt, Managing Director, Promontory Financial Group: Senator, I've seen the schedule but I'm not familiar with the basis for its preparation.



Having established that the consulting firms did not do this sorting, Warren presses toward the obvious conclusion:



Senator Warren: So that leaves us with the banks that broke the law, were then the banks that decided how many people lost their homes because of their lawbreaking. And, as a result, how many people would collect money in each of these categories. Is that right,Mr. Alt?



Alt: Senator, I'm not familiar with the basis for the scheduling.



Senator Warren: So far as you know, there's no independent review of the banks' analysis . . . You looked at 100,000 cases, and the banks have now put 4 million people into categories and resolved finally how much they will get from this review by the OCC and the Federal Reserve.



So that's bombshell Number One – it wasn't the auditors who decided which homeowners fell into which categories, it appears to have been the banks themselves. Bombshell Number Two? The representatives of the OCC and the Fed – remember, federal regulators whose job it is supposedly to protect ordinary people – flatly refused to give any information about the real results of their surveys, i.e. their inquiries into what the real error rates were.



Even worse, when pressed on the question of whether they would deliver any evidence of wrongdoing they uncovered to private parties who might want to sue, they hedged.



In these exchanges, Warren questions Daniel Stipano, deputy chief counsel from the OCC, and Richard Ashton, Associate General Counsel for the Board of Governors at the Fed. There are two key sequences.



In the first, Warren asks both men if they will make public what they know about the extent of the illegality and errors – whether the real error rate was, as she put it, 1 percent or 90 percent. But the two officials respond in gibberish legalese (if you watch the video, Ashton in particular seems to take pleasure in dicking the Senate around with his verbose non-answers), repeatedly forcing Warren to pin him down to their actual concrete position, which turns out to be, "Fuck you." For example:



Senator Warren. So let me just make sure I understand this completely. I want to know on a bank-by-bank basis the number of families that were illegally foreclosed on. Will you give me that information?



Mr. Stipano. Eventually, we are going to issue a statement to the public where we provide additional information, but if we go through the processes that I described previously, we can share it to Congress in its oversight capacity.



Huh? I have no idea what that means, but it sounds positive – it did to Warren, too:



Senator Warren. So you are saying you will make that information publicly available?



Mr. Stipano. I did not say that. I said that we are planning on issuing a public statement that wraps up the IFR that provides additional information . . .



Ultimately, both the Fed and the OCC turned out to be united on the issue. They'll release something, but it won't be the real numbers. Frustrated, Warren asked them where the public is supposed to get the numbers, if not from them. Their answer is, well, they can maybe pull it out of their butts, if they get lucky – not our problem:



Mr. Stipano. Well, sometimes you get information through third parties, through outside sources. But in this case, that is not the case.



Senator Warren. So unless someone throws a rock through the window with this information tied to it, you will not release it, is that what you are saying?



Stipano here replies with more gibberish:



Mr. Stipano. To the extent that the information is confidential supervisory information derived from the exam process, it is subject to privilege.



From there, Warren asks a more specific question. What if someone wants to sue a bank for illegally tossing them out of their home? And what if you have evidence in such a case? Wouldn't such evidence be, you know, helpful to those people? Stipano helpfully agrees, yes, it would be helpful:



Senator Warren. All right. So let me ask it from the other point of view. You now have evidence in your files of illegal activity, I take it, for some of these banks. I get that from the evidence you have released about the charts, who is going to get paid what. So if someone believes that they have been illegally foreclosed against, will they still have a right under this settlement to bring a lawsuit against the bank?



Mr. Stipano. Yes.



Senator Warren. All right. Now, if a family wants to bring a lawsuit--you are both lawyers--would it be helpful, if you are going against one of these big banks, would it be helpful for these families to have the information about their case that is in your files? Mr. Ashton?



Mr. Ashton. It would be helpful, obviously, to have information related to the injury. Yes, it would.



Which leads to the next question – having acknowledged that it would be helpful, will you help?



This seems like it should be an easy answer, but it isn't:



Senator Warren. Okay. So do you plan to give the families this information? That is, those families that have been victims of illegal foreclosures, will you be giving them the information that is in your possession about how the banks illegally foreclosed against them? Mr. Ashton?



Mr. Ashton. I think that is a decision that we are still considering. We have not made a final decision yet.



Senator Warren. So you have made a decision to protect the banks but not a decision to tell the families who were illegally foreclosed against?



Mr. Ashton. We have not made a decision about what information we would provide to individuals, that is true. Yes.



Senator Warren. Mr. Stipano?



Mr. Stipano. We are in the same position.



Obviously these guys can't come out and say, "We're not giving anybody anything. Blow us." That would cause too much of an uproar. So they just say they haven't decided, and we all know what that means. Warren tries to frame the issue in the most embarrassing way possible, but the witnesses prove immune to such embarrassment:



Senator Warren. So I want to just make sure I get this straight. Families get pennies on the dollar in this settlement for having been the victims of illegal activities or mistakes in the banks' activities. You let the banks, and you now know individual cases where the banks violated the law and you are not going to tell the homeowners, or at least it is not clear yet whether or not you are going to do that?



Mr. Stipano. We have not made a decision on what we are going to tell the homeowners.



All of this just confirms what we already suspected about the foreclosure settlement. This whole enterprise was conceived by the government solely as a means of dealing with the explosive problem of containing the private liability of these "systemically important" companies. Not only are we not prosecuting these firms anymore, we're also actively in the business of protecting them from litigation.



No other conclusion is possible from this testimony, which shows that our two primary regulators not only withheld information about bank illegality and errors prior to the settlement, but plan on continuing to do so going forward. There can be only one reason for concealing that information from the people affected by those "errors."





















Rolling Stone Mobile - Politics - Politics: While Wronged Homeowners Got $300 Apiece in Foreclosure Settlement, Consultants Who Helped Protect Banks Got $2 Billion

Nobody can do it alone! "Navy SEAL Training - Team Life.

Watch "Navy SEAL Training - Team Life - Froglogic Motivational Training.m4v" on YouTube

Monday, April 29, 2013

Housing market continues to rise.

USA TODAY


The National Association of Realtors says its seasonally adjusted index for pending home sales rose 1.5% to 105.7. That's the highest since April 2010, when a homebuyer's tax credit boosted sales. It's also above February's reading of 104.1.

Signed contracts are 7% higher than a year earlier. There is generally a one- to two-month lag between a signed contract and a completed sale.

Still, sales are being held back by limited supply. Sales of previously occupied homes dipped in March to a seasonally adjusted annual rate of 4.92 million, from 4.95 million in February.


Total existing-home sales are projected to increase 6.5% to 7% over 2012 to nearly 5 million sales this year, the Realtors said, while the median existing-home price is forecast to rise about 7.5%.

An index of 100 equals the average level of contract activity during 2001, when home sales were in the range of 5 million to 5.5 million.

The NAR says the index for the Northeast was unchanged at 82.8 in March, still 6.3% higher than March 2012. In the Midwest the index increased 0.3% to 103.8, 13.7% above a year ago. Pending home sales in the South rose 2.7% to 120.0, up 10.4% from March 2012. In the West the index increased 1.5% to 102.9, but that is 4.3% below a year ago.


Steady job gains and near-record low mortgage rates have helped drive home sales up the past year. Buyer traffic is 25% higher than a year ago. Rising demand and low supply of homes for sale is fueling home construction.

Builders started work on more than 1 million homes at an annual rate in March, first time the pace has topped that threshold in nearly 5 years.

The housing recovery is helping boost economic growth year. Builders are starting work on more homes, creating construction jobs. And home prices are rising. Higher prices tend to make homeowners feel wealthier and encourage spending.

Mortgage rates, meanwhile, remain near record lows. The average rate on the 30-year fixed mortgage fell to 3.4% last week, from 3.41%. That's not far from the record low 3.31% in November

The average rate on a 15-year fixed mortgage fell to 2.61% last week, lowest on records dating to 1991.


Contributing: Ray Goldbacher, USA TODAY

Saturday, April 27, 2013

How to Find Foreclosures on Zillow?

Where Can I Find Pre-Foreclosures?
To find possible pre-foreclosures in your area, enter your search area on Zillow, then click "Filter" and choose "Pre-foreclosure" under the "Pre-Market" area. Pre-foreclosure information is free after you register with a free account.

Be aware that a home listed under the pre-foreclosure category is a home that is not necessarily for sale. But, since the homeowner is in default on his loan, the owner may welcome an opportunity to find a qualified buyer help him avoid possible foreclosure. Also, the home could be scheduled for foreclosure auction under this category.

Where Can I Find Listings for Foreclosure Auctions?
Zillow offers listings for each stage of foreclosure: pre-foreclosure, foreclosure auctions and bank-owned listings. To find listings for foreclosure auctions, enter your search area on Zillow, then click "Filter" and choose "Pre-foreclosure" under the "Pre-Market" area. Foreclosure auctions will be listed in the pre-foreclosure section. Pre-foreclosure information is free after you register with a free account.

Where Can I Find Listings for Bank-Owned Properties (REOs)?
There are several ways to find bank-owned properties:

•MLS - Most lenders list their REO properties on the Multiple Listing Service (MLS), so any agent can help you identify REO offerings in your area.
•Bank websites - Some banks have an entire department set up to sell REOs, and sections of their websites are dedicated to their listings.
•Online specialists - Zillow has foreclosure listings, for free. You can find foreclosure properties by using search filters on Zillow's search and maps page. To find listings for bank-owned properties, enter your search area on Zillow, then click "Filter" and choose "Foreclosures" under the "For Sale" area. Full foreclosure listing information is free after you register with a free account.
How Can I Be First to Know When a Property is Listed as a Pre-foreclosure, or is Going to Auction or is Foreclosed?
Zillow offers a "Property Alert" email which will notify you when a property's status changes (e.g., goes into pre-foreclosure, is scheduled to go to foreclosure auction or is foreclosed). By getting a Property Alert email about a home, you will know very early in the process about a home that you are interested in. To create a Property Alert, go to any home details page, select "Get Updates" and click "Property Alert."

Lane county Oregon home prices continue to rise. Foreclosures still on ice..

With a small foreclosure shadow inventory, and Real Estate brokers unqualified to negotiate short sales stalling them Real Estate values are rising. Oregon banks will start to release the approximately 2600 in current shadow foreclosures next week. Spread evenly across the state by population it is not going to stop the 2013 rise. I expect loan modification failures along with failed short sales to create another shadow inventory that will affect the market sometime in late 2014 to early 2015. I forecast a normal rise and fall in values will take place inside 2017-2029, Remember. 2002-2012 inflated and crashed on an extreme scale due to bad loan underwriting. The profits nor losses will not compare to the recent bubble melt down. All markets adjust! Buy on the down turns & sell on the way up. Nobody can accuratly predict an exact bottom or top. If you found it you already missed it. I call it investing on hill sides. If you are still in the buyers market you missed the bottom by 5%. Read my blogs or call me to follow when I am buying, holding, or selling.
Justin Thayer
Team Thayer Key Reality Group & LJT Inc.
541-543-7287




Eugene Metro Zillow Home Value Index

Friday, April 19, 2013

Economic Focus

Today's rates are just the same as last Friday, even though we have seen some relatively big swings in the stock markets during the last 5 days.  Investors are simply not feeling good about day to day economic developments, and are chasing the highs and lows.  The smart money is still gravitating toward the safe haven of bonds, which will keep interest low.

Also, inflation, real or imagined, is not really presenting a problem and doesn't look like it will be a factor for at least most of 2013.  All of this is good for mortgage rates, but we still need to see some sustained economic growth to really get the housing market going.

The following rates are based on 30 day locks with no discount points and credit scores of 740 or better, as of this morning.  They are not come ons, they are the rates your buyers will most likely get from a reputable lender, regardless of what is advertised.  Certainly there are other specialized programs available, depending on the qualifications of the buyer.  The 30 Yr Fixed Non-Owner rate is based on 25% down payment.  This is where the best rates come in for investors


Rate
APR
30 year fixed conforming =
3.625%
3.693%
15 year =
2.875%
2.929%
3/1 ARM =
2.750%
2.884%
FHA/VA 30 year fixed =
3.250%
3.961%
30 Yr Fixed Non-Owner =
3.875%
3.937%
Prime rate is currently =
3.250%

Monday, April 15, 2013

INFO THAT HITS US WHERE WE LIVE... Last week gave us more evidence that this housing recovery, though growing slowly, will in fact endure. According to a major online real estate portal, listing inventory rose 3.5% from January to March. This beat the gains going into the 2012 Spring selling season, although inventories are still 15% off last year's levels, with only nine of 146 metros showing annual increases. Not surprisingly, the median age of inventory in March dipped to 78 days, down 12.3% from last year, and median asking prices were up 0.5% from February, gaining in 29 of the top 30 metro areas.

According to a housing consultancy, land values are up 13% on average over last year, their first annual rise since 2005. The increasing demand from builders for finished lots is driving the gain, as the rate of new home construction is up 27.7% the past year. Higher land values will mean higher prices for new homes, as land cost makes up 21.7% of the final sale price, according to the National Association of Home Builders. Finally, a first quarter survey of lenders reported that 71% are more confident about home prices, believing they're rising at a "sustainable pace."

Saturday, April 13, 2013

Smartphone App Predicts Short Sale Difficulty

Smartphone App Predicts Short Sale Difficulty


So you don’t believe in psychics, palm readers, or any of those zany fortune tellers – the ones with the lights on but nobody’s home? After all, seeing is believing, right?



Well, once you feast your eyes on the new My Short Sale Score smartphone app, you might find yourself shouting, “I believe!” from your rooftop.



This brand-new app recently caught our eye during the course of some other tech-related research, and although we have not had time to test the app for ourselves (yet), we immediately suspected that you would appreciate today’s opportunity to learn more for yourself. According to multiple sources, including this YouTube video, the “My Short Sale Score” app can actually predict from the palm of your hand how difficult a short sale will be.



What a powerful game-changing tool for real estate investors and agents alike, huh?



It’s Really Quite Simple

Picture this: You’re beginning to consider a certain short sale transaction, right? But you don’t want to just “go with your gut” on the property in question, because you’re a responsible investor who values thoughtful analysis. Simply bust out your smartphone, open the app, and have at it.



Here’s how the app works:



1.Tap the button to “Score and Save a New Property”.

2.Answer 17 property-specific questions to the best of your ability. (Put on your big-boy pants and stop whining.)

3.Tap the button to “Submit for Score”.

4.Receive a numerical score for your chosen short sale transaction.

The app proposes analyze your responses with a high level of accuracy, based on prior key criteria extracted from 2,000 previous transactions – hence the 17 questions you are prompted to answer. (We note that 100,000 simulated transactions reflected a 97% confidence rate in the software’s forecasting abilities.) From this research, a scoring system was created to grade your property from “A” to “F”.



Once you receive your score, enter an address for the property and save your results. You may specify the property you just saved to receive a Pro Upgrade, thereby allowing you to view the app’s detailed short sale report – which is where you will receive your aforementioned letter grade (along with tips and warnings to guide you as you move forward with your transaction).



And forgive me for sounding like Rod Roddy, but “That’s not all!” The action doesn’t stop there with this unique software. The app also allows you to:



•Store seller contact details

•Set the status of your transaction as “open” or “closed”

•Create and save written notes

•Dictate audio notes

•Even take photos of the property with the built-in camera feature

Aaaaannnnd… As if that wasn’t enough to wow the pants right off you, you can also access a Google map to find your selected property if you are (heh hem) directionally challenged.



All together now: “Oooooohh! Ahhhhhhh!”



One might even consider this app to be “green” – what with all the trees you’ll be saving. That’s right. Say adios to the paperwork, files, and briefcases; now you can store all your information inside the app, and access your property’s data from multiple devices.



Worried about market fluctuations? Fuggedaboutit! (Insert New York accent here.) This app’s got that covered too. The underlying analytical model is updated regularly to reflect current market conditions, in order to provide you with the latest short sale scoring…right at your fingertips.



Interested? Watch the instructional video below for more details, and download the app for Apple or Android operating systems. Then let us know if My Short Sale Score is as helpful as it appears to be.



And don’t hesitate to tell us about any other helpful tools or apps, which might come in handy for other short-selling dealmakers like yourself. We want to equip Real Estate Mogul’s members with the best cutting-edge information out there!





Monday, April 8, 2013

CHART OF THE DAY: That's What A Housing Recovery Looks Like Read more: http://www.businessinsider.com/chart-of-the-day-january-case-shiller-2013-3#ixzz2PvYxMg9G

Chart of the day shows the S&P/Case-Shiller Home Price Indices, march 2013

Home prices: Biggest rise since housing bubble

Home prices continued their recovery, rising 8.1% in January, although a separate report showed a slight slowdown in new-home sales.

The S&P Case-Shiller index, which tracks the 20 largest markets in the nation, showed the biggest year-over-year gain in prices since June 2006.
"This marks the highest increase since the housing bubble burst," said David Blitzer, chairman of the index committee at S&P Dow Jones Indices.
In a separate government report Tuesday, new homes sold at a 411,000 annual rate in February, down nearly 5% from the January sales pace but up 12% from year-earlier levels. The typical price of a new home sold in the month was $246,800, up about 3% from both the January and a year earlier.
Joseph LaVorgna, chief U.S. economist for Deutsche Bank, said that bad weather in February could be partly responsible for the slowdown in sales. But he said market fundamentals suggest that the market for new-home sales should remain strong.
"Despite the pullback in sales in February, the uptrend in housing remains clearly intact," he said. He is forecasting even stronger sales in the second half of this year.
The Case-Shiller report shows the recovery in home prices is widespread. All 20 markets posted a year-over-year gain, and the pace of increase picked up in every market except Detroit.
Some of the markets hurt the most by the bursting of the housing bubble have enjoyed the biggest gains, led by a 23% rise in Phoenix. Prices were also up more than 10% in San Francisco, Las Vegas, Detroit, Atlanta, Minneapolis, Los Angeles and Miami, all markets that had been hit hard by foreclosures.
New York posted the smallest rise, up only 0.7%.
Even with the recent rise in home prices, the overall index is down 28.4% from the 2006 peak.
But experts say they see a lot of strength in the current market.
"The market still has a long way to go nationally, but the healing process -- and a return to a normalized housing market -- is definitely well underway," said Jim Baird, chief investment officer for Plante Moran Financial Advisors.
Home prices have been helped in recent months by a number of factors, including tight inventory of homes available for sale, near record-low mortgage rates and a drop in homes in foreclosure. A decline in unemployment is also helping the housing recovery.
The housing recovery itself is helping support overall economic growth, as builders scramble to hire workers to meet the renewed demand. The lift goes beyond the impact of increased construction on the economy, as the rise in home prices lifts household wealth.
Rising home prices also reduce the number of people owing more on their mortgages than their homes are worth. That, in turn, can help them to refinance those loans at a lower rate, freeing up money to spend on other goods and services. To top of page

Sunday, April 7, 2013

Olympic Wrestling must stay. We have 2 Olympic hopefuls in Eugene!


The Committee for the Preservation of
Olympic Wrestling

The Battle We Must WIN: Our Call to Engage the Wrestling Community

             All of you, no doubt, know the global wrestlingcommunity was shocked to learn of the I.O.C. Executive Committee's decision to remove wrestling as a core Olympic sport starting with the 2020 Games.  USAWrestling has been deeply involved in leading the effort to ensure that our voice is heard.  Starting with the change of leadership at F.I.L.A., American wrestling has been a leading force for necessary change in our sport as well as establishing a clear path forward in the international sport and wrestling community with a goal of returning wrestlingas an Olympic sport for 2020 and beyond.
            This mission is a calling that every American influenced by the sport of wrestling should and deserves to have their fingerprint on.  This is a fight for a sport that has been important to defining who many of us are.  Whether a World Champion or a grade school warrior, we are bonded by our respect for each other and our shared principles. These roots run deep in all of us.  We were born to bewrestlers and our Champions were born to win.
In a world of sports idols where it seems that a fall from grace in sports is common fuel for gossip, we would be hard pressed to find greater character role models than many of our Olympic and World Champions - the Peterson brothers, the Banach brothers, Gable, Wells, Baumgartner, Smith, Monday, Brands, Fraser, Kemp, Dziedzic, Schultz, Blatnick, Byers, Gardner, Angle, Weaver - these champions have represented our sport and themselves with honor OFF the mat in ways that transcend their wrestling champion status.  Why?  Because they have values that wrestling has imbedded in their character.  Now is the time for all of us --Wrestling has been invaluable in forming our character, our skills and influencing our lives.  Many of us have dreamed of being an Olympian, dreamed of Gold medals.  But our dreams were formed in part by the generational champions each of us looked up to.   Few experience Olympic Glory... All of us have been influenced by it.
            We owe our future generations the same dream...the same chance at glory.   Our wrestling bonds are generational, and we are all bonded by our love of this most ancient of sports, that, perhaps most profoundly, represents the trials and triumphs of our own lives.  Our common experience cannot be fully comprehended through the use of words - our honor, our struggle, our pain, our sacrifice, and our triumphs are things we must experience.  Neither can these things be bought or sold or given to someone else.  They must be lived.  They can only be earned.
We should be reminded of a man who as a youngwrestler in 1992 completed the J Robinson Intensive Camp. Like many of J's students, this wrestler warrior coveted his "I DID IT" shirt. Last week our warrior brother entered a hospice as he battled his last days with cancer. What did he ask for?  He asked to be sent a replacement for his much loved shirt so he could wear it in his last days. Who is this man?  A son, a father... a wrestler

This is our time.

Yours in Wrestling,

Monday, April 1, 2013

Real Estate market is value is rising in 2013.


Watch "2013 The Crash of the U S Housing Market" on YouTube
This is an older prediction that has shown to be 100% true so far. Take advantage of the last of the low prices before the selling market figures out the foreclosure wave has passed.

Sell.your home now. Eugene market values are rising.

Home selling secrets your Realtor does not want you to know ( part 4)
Home Selling Secrets Real Estate Agents Don't Want You To Know ( Part 5) - YouTube
Homes for sale in Springfield Oregon: 1464 Modoc St. Springfield Or Pre Foreclosure 1156 sq ft. 3 bed 1 bath $130000