Hi Students, Here’s the follow up from yesterday’s Transition Class in Kent. I received a fax from David Sterling (thanks David!) of the NMLS form 22D. Title insurance is addressed in item number 2. If the box is checked your buyer will receive a standard owners policy. If the box is left unchecked your buyer […]
Author Archive | Jillayne
To the Students from the March 12, 2010 Short Sale Class at Prudential West Seattle
Hi Everyone, Here’s the follow up from Friday’s fun Short Sale class: Here are two articles on how credit scores are effected by short sale v. foreclosure v. bankruptcy. First, here’s Ken Harney’s article and here’s Ardell’s follow up on the blog RCG. Here are links to the two trustees that process the majority of […]
To the Students from the March 9, 2010 REO Class at SKCAR Bellevu
Hi Students, Here’s the follow up from today’s class. It looks like the 90 day tenant eviction rule will sunset in 2012. Here’s a video of Jim the Realtor doing an initial walk through of an REO. Here’s the link to the Pacific NW Housing Summit website. Here’s the attorney referral page I mentioned in […]
Is it Time to Require a College Degree to Become a Licensed Real Estate Agent?
The real estate bubble is behind us and with default rates still rising, the rest of the meltdown is still ahead of us. Purchasing or selling a home in this market has possible grave consequences. Are real estate agents educated enough to assist today’s consumers? In this blog post, I will address the idea of […]
To the Students from the Feb 22, 2010 Advanced Short Sale Class at Preview P Northgate
Hi Everyone, Here’s the follow up from class. There was a request for recent delinquency stats. These numbers appear in four different posts: Option ARM Recast/Reset Update but what about prime loans? Here you go: We should also check on the re-default rate of loan mods and the HAMP program. Here’s the latest report from TransUnion […]
21 Questions to Ask Short Sale Negotiators Before Hiring Them
Interview questions before real estate agent, buyers, or seller decide to work with a “third party short sale negotiator” 1. How long have you been in the “short sale negotiation” business (working with a real estate or LO license without the specific focus on short sales does not count.) 2. How many short sales have you successfully negotiated/closed? […]
Predatory Short Sale Negotiators
I received a call the other day from a consumer who was in the process of purchasing a short sale home. The homeowner has defaulted on her mortgage and the trustee sale auction has been postponed a few times now that this buyer’s firm offer has finally reached the lender’s loss mitigation decision-maker. Once the […]
Zillow’s Chief Econ Has Lots to Say About Seattle’s Market
Spencer Rascoff from Zilllow has provided us with the slides from Dr. Humphries’ presentation to the Seattle Real Estate Roundtable. Here’s the link. Slide 13 has a heat map of peak-to-change in home values for King/Pierce/Snohomish counties. This slide alone is enough to convince me of the reason why Seattle-area real estate agents are bullish […]
Shop, Swap, and Drop
This is a new term I heard in class from my real estate agent students. It describes a home buyer shopping for a move-up home; a nicer home in a nicer neighborhood. The buyer has an existing home and the home’s value has dropped so far that in order to sell, they would have to go through […]
To the Students from the Jan 13, 2010 Short Sale Class at SKCAR Bellevue
Hi Everyone, Here’s the follow up from today’s class. Here are two articles on how credit scores are effected by short sale v. foreclosure v. bankruptcy. First, here’s Ken Harney’s article and here’s Ardell’s follow up on the blog RCG. Here’s the link to the Making Home Affordable government website for a homeowner to see […]