Seriously underwater homes at lowest level in 2 years

The number of seriously underwater residential properties has reached its lowest level in two years – but the pace of equity recovery is slowing, according to data released today.

There were 9.1 million seriously underwater homes in the US in the first quarter, down 26% from 10.9 million in the first quarter of 2013, according to RealtyTrac’s US Home Equity & Underwater Report. A home is defined as seriously underwater when the combined loan amount on the property is at least 25% higher than the property’s estimated market value.

The number of properties with at least 50% equity grew to 9.9 million in the first quarter, representing 19% of all mortgaged properties. That’s up from 9.1 million in the fourth quarter of 2013.

There were also fewer distressed properties with negative equity in Q1, with 45% of all properties in foreclosure seriously underwater. That’s downs from 48% in the fourth quarter of 2013 and 58% from a year ago. The share of foreclosure properties with positive equity rose to 35% in the first quarter, up from 31% in the fourth quarter of 2013.

“US homeowners are continuing to recover equity lost during the Great Recession, but the pace of that recovering equity slowed in the first quarter, corresponding to slowing home price appreciation,” said Daren Blomquist, vice president at RealtyTrac. “Slower price appreciation means the 9 million homeowners seriously underwater could still have a long road back to positive equity.
 
“The relatively high percentage of foreclosures with equity is surprising to many because it would seem homeowners with equity could easily avoid foreclosure by leveraging that equity by refinancing or with an equity sale of the home,” Blomquist added. “But many distressed homeowners with equity may not realize they have equity and in some cases have vacated the property already, assuming that foreclosure is inevitable.”

Nevada had the highest percentage of properties seriously underwater with 34%, followed by Florida (31%), Illinois (30%), Michigan (29%) and Ohio (27%).

 

by Ryan Smith | Apr 17, 2014

Change is difficult but now is the time to change offices

It’s that time of the year when everyone is out in their yards working hard to make everything prosper and grow so that the yard will look good for summer.  The next time you are working in your yard I have something I would like you to think about.  Is your Firm and Managing Broker working to help your business prosper and grow as hard as you are working?  If not, maybe it is time to take a closer look at what Homes & Equity Real Estate Group has to offer to you and your business.  See what our Brokers are saying about us.

 

                 "You gotta love these folks at Homes and Equity; they’re never in your face but they’ve always got your back. That’s a comfortable feeling to know such talented people are interested in me making a profit and feeling at home.”

Terry Reynolds

 

Your only costs with Homes & Equity Real Estate Group is $59 per month and a $195 per transaction fee.  With Homes & Equity Real Estate Group you can compete on a whole new level.  
Although we are a discount broker, we do provide a lot of services to our Brokers.  For our listings we provide:

• Yard signs
• Lock boxes
• Free Flyers
• A Boards for your open houses. 

For your business, we provide: 

• Free business cards
• Free web site with IDX feed to the MLS
• Free continuing education
• Monthly brainstorming sessions with the brokers that want to grow their business
• A Managing Broker that is willing to talk with you

You can learn more at our website at: http://www.joinhomesandequity.com/

You can talk with Max himself by calling 206-719-2694.

Sincerely,

Max Nasab

Direct Phone:  206-719-2694

Fax:                   425-449-4909

12207 NE 8th Street, Bellevue, WA 98005

 

Zero down payment with VA Home Loans

VA Home Loans can help US veterans purchase a home

 

 

VA Home Loans are available to service members, veterans and eligible surviving spouses of the US military that received an honorable discharge from the military.  VA loans were the first and always have been the best zero down loan program available.  Whether you are a first time home buyer or up-sizing to a larger home, a VA Home Loan can help you buy a home.  VA Home Loans are provided by private lenders, such as banks and mortgage companies.  VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms. 

 

 

• 100% Financing
• Gifts are allowed**
• No Monthly Mortgage Insurance Premiums
• No Funding Fee for Disabled Vets
• Not Limited to First-Time Homebuyers
• Closing Costs May Come from a Gift or Paid by Seller
• Primary Residence: 1-4, Condos & PUDs and manufactured homes
• 550 minimum FICO score
• Debt Ratios > 55% with DU Approval
• Can be a 30 year fixed, 5/1 ARM or a 15 year fixed loan
• High balance loans available up to $1,000,000

Please call Max today, to get all of the details about how this can help your home buyers.

Sincerely,

Max Nasab

Direct Phone:  206-719-2694

Fax:                   425-449-4909

12207 NE 8th Street, Bellevue, WA 98005

NMLS# 112686

 

 

·        

Amazon Remaking Seattle in Its Own Image

Tech Giant's Continued Growth Will Benefit All Property Types in Downtown Seattle

 

By: Joseph Sollazzo, Real Estate Economist with CoStar Group
The Amazon effect typically refers to the online retail giant’s global influence on retail and supply-chain dynamics. But more locally, it is also remaking the physical and demographic landscape of downtown Seattle.

Amazon has been at the center of the region’s tech boom and its growth has drawn migration to the urban core. From 2000 to 2012, the population of downtown Seattle grew by more than 26%(1), compared to 17% for all of Seattle and only 14% nationally.

Younger folks are driving much of this growth, as the downtown population aged 25-44 has grown four times faster (28%) than the metro average. With its estimated local workforce of 18,000 and potential to expand by an additional 22,000 over the next five years(2), the ramifications of Amazon’s expansion for the local CRE markets are acute.

 

Read the entire article at: http://www.costar.com/News/Article/Amazon-Remaking-Seattle-in-Its-Own-Image/158886

Spring has Sprung

Its spring and Easter.  It’s the time of renewal and starting over.  Everything is starting to grow and bring hopes for a wonderful summer.  Almost everyone looks forward to this time of year.  I know that I do.  This is the time of year that it is good to have a managing broker that will help you make the most of this home buying season.  Whether it is sharing lunch with you, or joining the monthly brainstorming meeting with other brokers that want to grow their business, or just answering your questions on the phone, Max is a managing broker that is there for you.  See what our brokers are saying about our managing broker Max Nasab. 

 

 

Hi.  My name is Wayne Chu.  I am a license realtor with Homes and Equity Real Estate and would like to verify that working with Max and Ron has been absolutely positive and totally helpful for my profession to being a successful Broker.

Wayne Chu

 

Your only costs with Homes & Equity Real Estate Group is $59 per month and a $195 per transaction fee.  With Homes & Equity Real Estate Group you can compete on a whole new level.   Although we are a discount broker, we do provide a lot of services to our Brokers.  For our listings we provide:

• Yard signs
• Lock boxes
• Free Flyers
• A Boards for your open houses. 

For your business, we provide: 

• Free business cards
• Free web site with IDX feed to the MLS
• Free continuing education
• Monthly brainstorming sessions with the brokers that want to grow their business
• A Managing Broker that is willing to talk with you

You can learn more at our website at: http://www.joinhomesandequity.com/

Learn more at our Real Estate Broker Connection at: http://realestatebrokerconnection.com/

 

Or you can talk with Max Nasab himself at 206-719-2694

 

HomePath Mortgages are a great option for your Buyer's

HomePath® Loan Program

HomePath Mortgage allows a buyer to purchase a Fannie Mae-owned property with a low down payment, flexible mortgage terms, no lender-requested appraisal and no mortgage insurance. Expanded seller contributions to closing costs are allowed.*

 

Benefits Include:

• Low down payment and flexible mortgage terms (fixed-rate, adjustable-rate)

• Borrowers may qualify even if their credit is less than perfect

• Available for primary residences, second homes and investment properties

• FICOs down to 660

• Enhanced interested party contributions:

     • Up to 6% for LTVs up to 95% Max 

     • Second homes limited to 3%

     • Investment properties limited to 2%

• No mortgage insurance required

• No appraisal required

 

Available Terms:

• 30 year fixed (standard and high balance loan amounts)

• 5/1 ARM options (standard and high balance loan amounts)

• Up to 95% LTV (standard loan amounts) and up to 90% LTV (high balance loan amounts)

Contact me today for more information on this exciting program!

 

Sincerely,

Max Nasab

Direct Phone:  206-719-2694

Fax:                   425-449-4909

12207 NE 8th Street,  Bellevue, WA 98005

NMLS# 112686

 

*Courtesy of Homepath.com. This is not a commitment to lend.  All loans must qualify through lender underwriting and are subject to interest rates available at the time of application.  Approval is subject to acceptable appraisal, title, homeowner’s insurance, verification of assets and a minimum FICO score of at least 660.

 

The Science-and Art-of Selling

There’s an art to sales, but you can’t get to that point if you don’t have the discipline to back it up.

February 2014 | By Jason Forrest

 

Because of his love and respect for the game of football, NFL Coach Bill Walsh celebrated the science and the art of a well-executed play — whether or not the play was successful. To him, success happened when his people did what they were trained to do with precision. On the other hand, a play that resulted in the desired result — but was executed sloppily — earned his reproach. A world-class coach like Bill Walsh reveres disciplined football.

From where I stand, being a good sales professional is harder than being a laborer, a craftsman, or even an artist. As a broker, do your people know that you respect what they do? Do you come across to your sales professionals as someone who truly understands that?

Want to learn how to transform from manager to coach? Sign up for Jason Forrest's Leadership Sales Coaching: The Seminar in Dallas, Texas this April 29-30.

Whether you’re an agent or a broker, you’ll be most effective when you sincerely revere and respect sales. That’s why I use the term “sales professional.”

I recently got some feedback from a salesperson who thought I was asking him to be robotic by using sales scripts. But when I asked him if he could use more consistency in his sales presentation and income, he agreed that it would be nice to remove a lot of fear and insecurity from his career. Perfecting the science helps eliminate variables, which increases confidence.

Just like the best singers, dancers, and actors, top sales professionals employ a combination of art and science. Think about Elton John or Lady Gaga, who practice until each song and motion becomes instinct. It’s the science that happens behind the scenes to make sure that each performance is consistently phenomenal. But they don’t seem robotic; they bring an enthusiasm and passion to the stage to go along with each memorized word and well-rehearsed dance move. You can’t even get to the art if you don’t have the science and discipline to back it up.

Amateur sales pros practice until they can get the science right some of the time, but true professionals practice until they can’t get it wrong. Learning a sample sales script (science) and then creating one with a personal spin (art) makes for consistent excellence.

Sales pros, classroom learning doesn’t fully equip you, so you have to incorporate experiential learning (practicing your personalized script with customers). After getting out of the classroom and practicing in the real world, come back and reflect on what worked and didn’t work.

Elton John has done it enough times to know that he can get on stage and deliver at the same level he did the last time. By perfecting the science and the art, you can do the same.

Jason Forrest

Jason Forrest is a sales trainer; management coach; member of the National Speakers Association’s Million Dollar Speakers Group; and author of three books, including his latest, Leadership Sales Coaching. One of Training magazine's Top Young Trainers of 2012, Jason is an expert at creating high-performance sales cultures through complete training programs. He incorporates experiential learning to increase sales, implement cultural accountability, and transform companies into sales organizations. Learn more at  www.forrestpg.com.