http://donnalefeverrealestate.com/en-usSun, 19 Jun 2011 16:45:00 GMT10GDRSSFeeds v1.0http://donnalefeverrealestate.com/blog/2011/06/19/fha-loan-limits-dropping-effective-october-1-2011<div>Unless there is Congressional action FHA LOAN LIMITS will revert back to the loan limits determined under the Housing and Economic Recovery Act (HERA) for loans insured by FHA on or after Ocrober 1, 2011.&nbsp; As a result FHA loan limits would likely decline in 669 of the 3,334 counties or county equivalents that are eligible for FHA insurance nationally.</div> <div>&nbsp;</div> <div>Since 2009, the maximum FHA loan limit for Clak County has been $400,000.&nbsp; If there are not actions taken by Congress, on October 1st the new maximum loan limit will DECLINE to $287,500.&nbsp; To remain at a 3.5 perent down payment, the maximum sales pice would have to be $298,000.&nbsp; Any higher sales price and the down payment will rise dollar for dollar to keep the maximum loan at $287,500.</div> <div>&nbsp;</div> <div>This may seem like a small issue because Las Vegas area prices ae so low.&nbsp; However, it is very challenging to get HUD to raise the FHA limits.&nbsp; FHA loans are a huge part of our of our market.&nbsp; </div> <div>&nbsp;</div> <div>Anyone who would like an FHA loan should act quickly in the event this decreas in loan limits takes affect.</div><P><a href="http://donnalefeverrealestate.com/blog/2011/06/19/fha-loan-limits-dropping-effective-october-1-2011" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2011/06/19/fha-loan-limits-dropping-effective-october-1-2011#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2011/06/19/fha-loan-limits-dropping-effective-october-1-2011Sun, 19 Jun 2011 16:45:00 GMThttp://donnalefeverrealestate.com/blog/2011/06/12/new-nevada-laws-passed-to-help-homeownrs<div>&nbsp;<strong><em><u><br /> FORECLOSURES AND SHORTSALES</u></em></strong></div> <p>SB414&nbsp;- With the Governor for signature</p> <p>Makes it a <strong>misdemeanor for a bank to unreasonably delay responding to a short sale</strong> offer.&nbsp;It spells out the acceptance or rejection of an offer should be received within 90 days.&nbsp;It also prohibits a bank from getting a deficiency judgment if they agreed to a short sale (under certain circumstances).&nbsp;</p> <p>AB273&nbsp;- &nbsp;With the Governor for signature</p> <p><strong>Prevents the bank from "double-dipping"</strong> and going after the borrower for the full amount of the deficiency when they have received compensation from other sources.&nbsp;It will cap the amount a third party can be awarded if they bought the right to the deficiency for pennies on the dollar.&nbsp;It will reduce the amount of time a junior lien holder has to file for a deficiency form the current six years to six months, to be in line with primary lien holders&#239; timeframes.&nbsp;</p> <p>SB136&nbsp; - &nbsp;Expected to be delivered to the Governor shortly.</p> <p>Changes the maximum length of time a state-chartered <strong>bank may hold real property that they acquired through foreclosure from 10 years to 5 years.</strong>&nbsp;Also removes the requirement that a bank annually charge off a certain percentage of the value of such real property.&nbsp;</p> <p><strong><em><u>REAL ESTATE SERVICES TAX</u></em></strong></p> <p>AB569&nbsp;- Did not pass</p> <p>Would have required <strong>Real Estate commissions be taxed at 1%.</strong>&nbsp;The tax would have been paid by the consumer based on the purchase price of the services and would have taken effect on January 1, 2012.&nbsp;</p> <p><strong><em><u>ENERGY AUDIT FORM OR WAIVER</u></em></strong></p> <p>AB432&nbsp;- With the Governor for signature</p> <p>This bill requires Energy auditors to be licensed by the Real Estate Division.&nbsp;Most importantly this bill <strong>repeals the section of NRS that mandates the seller to provide an evaluation of energy consumption of that property</strong>.&nbsp;Effective July 1, 2011.&nbsp;</p> <p><strong><em><u>CELL PHONE USE WHILE DRIVING</u></em></strong></p> <p>SB140&nbsp; - &nbsp;With the Governor for signature</p> <p>Prohibits the use of a cellular telephone or other handheld wireless communications device while operating a motor vehicle in certain circumstances. <strong>&nbsp;Prohibits the use of cell phone without a hands-free device while driving.</strong>&nbsp;Prohibits typing/reading data texting, e-mail, IM, web browsing, etc.&nbsp;Violation is a misdemeanor with fines increasing with each offense and possible license suspension.&nbsp;July 1, 2011&nbsp;- December 31, 2011, violators will receive a warning.&nbsp;Beginning January 1, 2012 violators will receive a citation.&nbsp;&nbsp;</p> <p><strong><em><u>PROPERTY MANAGEMENT ISSUES</u></em></strong></p> <p>AB360&nbsp;- Should be delivered to the Governor for signature shortly.</p> <p>Mandates that local governments pass an ordinance to afford property owners at least <strong>30 days to fix a nuisance or dangerous/noxious situation </strong>that was caused by the criminal activity or someone other than the owner, as long as the situation is not an immediate danger to public health, safety or welfare.&nbsp;&nbsp;</p> <p>AB226&nbsp;- Is law and goes into effect October 1, 2011.</p> <p><strong>Adds functioning door lock as part of the definition of essential items</strong> and services.&nbsp;It also requires a notification to the tenant that a lockout will happen within 24 hours of the sheriff receiving the order from the court.&nbsp;</p> <p><strong><em><u>PRIVATE TRANSFER FEES</u></em></strong></p> <p>AB271 -&nbsp;Law effective May 20, 2011</p> <p><strong>Regulates private transfer fee obligations that affect real property</strong>.&nbsp;A Private Transfer Fee is attached to a property as a covenant that requires the payment (typically 1&nbsp;- 2% of the purchase price) to a private entity every time the property changes hands up to 99 years.&nbsp;</p> <p><strong><em><u>ASSET MANAGEMENT COMPANIES </u></em></strong></p> <p>SB314&nbsp;- With the Governor for signature</p> <div><strong>Requires the registration, permitting, and regulation of asset management companies and their employees and agents through the Real Estate Division</strong>.&nbsp;In addition there is also a provision that removes the ability for the purchaser to waive the SRPD, and spells out that a <strong>seller may not require a purchaser to waive the SRPD</strong>.&nbsp;It also adds that is an asset manager knows of any defects in the property, <strong>he must give written notice of the defect to the purchaser&nbsp; <p><strong>For more information:&nbsp;https://nelis.leg.state.nv.us/76th2011</strong></p> .</strong> <div>&nbsp;</div> <div>&nbsp;</div> </div> <p>&nbsp;&nbsp; </p> <p><strong>For more information:&nbsp;https://nelis.leg.state.nv.us/76th2011</strong></p><P><a href="http://donnalefeverrealestate.com/blog/2011/06/12/new-nevada-laws-passed-to-help-homeownrs" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2011/06/12/new-nevada-laws-passed-to-help-homeownrs#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2011/06/12/new-nevada-laws-passed-to-help-homeownrsSun, 12 Jun 2011 13:31:00 GMThttp://donnalefeverrealestate.com/blog/2011/05/27/windermere-real-estate-wins-prestigious-2011-best-places-to-work-award-&nbsp; <p>Foreclosures, short sales, REOs and every other real, or imagined, distressed properties are painting a bleak picture of the real estate industry. It’s hard to avoid getting a little “bad attitude” fallout on your shoes, even while going the extra mile for any worthwhile cause. One thing you’d certainly never expect would be a real estate company nominated as one of the “Best Places to Work” in Las Vegas. But, THAT is exactly what happened to Windermere Real Estate… only better because Windermere WON the Award!</p> <p>Vegas Inc. magazine is the presenter of the Best Places to Work. This annual award was conceived in order to identify Southern Nevada’s best workplaces. Vegas Inc readers were asked to nominate local companies. During the nomination period a website was utilized (<a href="http://www.lasvegasbestplacestowork.com/">www.lasvegasbestplacestowork.com</a>) to facilitate nominations. More than 75 companies and organizations were nominated.&nbsp;Employees from those entities were canvassed on multiple facets of their employer. Using analytical tools the companies were ranked and the winners announced on May 24, 2011 at the Silverton Hotel &amp; Casino.</p> <p>Robyn Yates, Broker &amp; Co-Owner of Windermere Services Nevada, showed the kind of enthusiasm that would certainly helped make Windermere worthy of their 2011 Best Places to Work award. “We’re thrilled to be honored as one of the Best Places to Work in Southern Nevada,” Yates explained, “it is extremely satisfying to know that your people really love working for their company! There is so much negativity about the real estate market in general but we try hard to leave the negatives at the door and do our work in a professional, positive, caring and fun-filled environment. Being voted Best Place to Work lets us know that we’re doing things right for everyone who works so hard at their job. It is a validation that tells us that what we do does not go unnoticed or unappreciated. It is a wonderful feeling.”</p> <p>Di Redman, Owner of Windermere Anthem Hills commented;” Being a Best Places to Work award winner makes us all very proud.” Dennis Yates, Co-Owner of Windermere Services added;” When great people work together, for the common good, at a great company, exceptional things can be accomplished.” Mr.&amp; Mrs. Yates know a little about exceptional accomplishments. Since opening the Windermere doors in Nevada in 2004, some 150 experienced real estate agents have joined the Windermere Family. “I think the #1 reason why we’ve attracted the caliber of agent that we have is that we’re not for everyone,” Robyn explained. “Our agents are market-tested-tough. They can handle the difficulties that often arise in a real estate sale or purchase and they do it with a high level of professionalism, compassion and empathy.” “Windermere also offers a full technology platform designed to help agents handle complex transactions from anywhere in the world. Our agents aren’t stuck in the office; they can work productively from anywhere. It also helps that the company is completely paperless.”</p> <p>As if the full-time rigors of conducting real estate weren’t’ enough, in Las Vegas, last year Windermere Real Estate distributed $25,000 to fight homelessness. Enough said, at the end of the day, Windermere fully deserves the 2011 Best Places to Work. </p> <p>&nbsp;&nbsp;</p><P><a href="http://donnalefeverrealestate.com/blog/2011/05/27/windermere-real-estate-wins-prestigious-2011-best-places-to-work-award-" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2011/05/27/windermere-real-estate-wins-prestigious-2011-best-places-to-work-award-#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2011/05/27/windermere-real-estate-wins-prestigious-2011-best-places-to-work-award-Fri, 27 May 2011 16:28:00 GMThttp://donnalefeverrealestate.com/blog/2011/05/12/x-factor-tryouts<div>It has been almost a week since I participated in the X Factor tryouts here in Las Vegas.&nbsp; For those of you who don't know, the "X" Factor is Simon Cowell's new Realty Show which airs this fall.&nbsp; The premise of the program is similar to American Idol.&nbsp; My understanding of the two main differences are:&nbsp; 1)&nbsp; Their is not an upper age limit and 2)&nbsp; Individual singers as well as group singers are invited to audition.</div> <div>&nbsp;</div> <div>I studied voice at Oklahoma State University and University of Montana as well as piano.&nbsp; I grew up in a family that loves music and is very talented.&nbsp; My Father plays guitar and piano by ear.&nbsp; He can't read a lick of music but can play and sing beautifully.&nbsp; Over the years he has played in country bands and entertained at family events.&nbsp; My sister is also an extremely talented singer.&nbsp; I have performed over the years in choirs, churches, weddings, funerals, events, musical plays, fashion shows, talent contests&nbsp;and of course karaoke.&nbsp; </div> <div>&nbsp;</div> <div>My husband talked me into auditioning....well it really wasn't that hard to "talk me into it."&nbsp; Green Valley Ranch Stations Casino and Channel Five hosted the pre-event tryouts at the Green Valley Ranch Casino conference center Friday, May 6th.&nbsp; The format was as follows:&nbsp;&nbsp; </div> <div>&nbsp;</div> <div>*&nbsp; The first 250 qualified individuals and groups would be eligible to audition.</div> <div>*&nbsp; The sponsors (Green Valley Ranch Stations Casino and Channel 5) would send the top three acts to Dallas, Texas May 26th to audition in front of Simon Cowell and the other judges.</div> <div>*&nbsp; The lucky winners receive a front of the line pass in Dallas.&nbsp; In other words the lucky winners do not have to wait in the stadium for hours and days with other hopefuls.</div> <div>*&nbsp; The participants could get in line at 5:00 a.m. on Friday morning...but not before.&nbsp; Camping out was not allowed.</div> <div>&nbsp;</div> <div>I arrived at the line at 5:10 a.m.&nbsp; Wow!&nbsp; I was absolutely blown away.&nbsp; I started walking down the line to find the end and it seemed to go on and on!&nbsp; I got in line and began my wait.&nbsp; Fortunately, my husband was kind enough to bring me a cup of&nbsp;coffee around 5:30 a.m.&nbsp; Keep in mind, I had to get up about 3:30 a.m. to prepare for my audition.&nbsp; This included getting "decked out" in my&nbsp;audition outfit, makeup and hair style.&nbsp; </div> <div>&nbsp;</div> <div>Registration began about 7:45 a.m.&nbsp; I was registered at 8:45 a.m.and ready to wait for my audition.&nbsp; By the way...I was number 216!&nbsp; Remember, only 250 qualified auditions would be allowed.&nbsp; I was in line at 5:10 a.m. and barely made the cut to audition.</div> <div>&nbsp;</div> <div>We were all asked to wait in banquet rooms&nbsp;until our time to audition.&nbsp; Five numbers were called at a time to stand outside the audition room.&nbsp; While I waited in the holding rooms, I watched and listened to some very talented singers and groups!&nbsp; What an experience listening to singers vocalizing, practicing their songs and performing for the waiting singers.&nbsp; It was loud and the energy was through the roof.</div> <div>&nbsp;</div> <div>I had decided to sing Faith Hill's - "It Matters to Me."&nbsp; I like the song because I can sing it easily&nbsp;a cappella (without&nbsp; accompaniment.).&nbsp; I had practiced for a couple of weeks before the event and really felt I was ready!&nbsp; </div> <div>&nbsp;</div> <div>By the time I was called to audition it was nearly 2:00 p.m.&nbsp;&nbsp; I was really nervous!&nbsp; Sitting around waiting to audition is a stressful situation.&nbsp; We were each given the following instructions:&nbsp; 1)&nbsp; We would have 2 minutes from the second we walked into the audition room to when we walked out.&nbsp; The most amount of singing you could do would be 90 seconds.&nbsp; 2)&nbsp; We were instructed to Give our name, our audition number, song we were going to sing and our <strong><em>age</em></strong>!&nbsp; Yeah...that's right...our age.&nbsp; I was not happy about that part.</div> <div>&nbsp;</div> <div>I walked into a huge Red X FACTOR wall that was light brightly with professional lights.&nbsp; There were two or three cameras and a table of six judges.&nbsp; The judges included a producer from X Factor, a former contestant from American Idol and the balance was local credentialed judges.&nbsp; Very intimidating.&nbsp; I said my list of required statements, and started singing....&nbsp;&nbsp; wow!&nbsp; I felt I did well and the judges told me I did a great job.&nbsp; So, I waited for my call back....</div> <div>&nbsp;</div> <div>Friday evening the final 20 were to be called back for an additional audition Saturday morning at 10:00 a.m. at Channel 5.&nbsp; I waited...finally at about 9:00 p.m. I received a call from a long distant phone number that I didn't recognize.&nbsp; I was actually in the movie but I picked it up because it might be the call!&nbsp; It was my long time friend Lisa Hungate who had moved to New Orleans.&nbsp; She was checking in to see how it went!&nbsp; </div> <div>&nbsp;</div> <div>During the entire time I was in line and waiting to audition, I kept all of my fiends up to speed via Facebook and texting.&nbsp;&nbsp; What I had hoped to get out of my experience auditioning for X Factor was an opportunity to go to the auditions in Dallas with a front of the line pass.&nbsp; What I actually got out of the experience was amazing interest and support from my friends, clients and fellow Real Estate agents.&nbsp; What a blast!&nbsp; My recommendation to each of you is to go for it!&nbsp; Nothing Ventured, nothing gained!</div> <div>&nbsp;</div> <div>&nbsp;</div><P><a href="http://donnalefeverrealestate.com/blog/2011/05/12/x-factor-tryouts" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2011/05/12/x-factor-tryouts#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2011/05/12/x-factor-tryoutsThu, 12 May 2011 22:39:00 GMThttp://donnalefeverrealestate.com/blog/2011/04/07/how-the-market-looksI'll be blogging here on market news, legal news and maybe even some political news.<P><a href="http://donnalefeverrealestate.com/blog/2011/04/07/how-the-market-looks" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2011/04/07/how-the-market-looks#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2011/04/07/how-the-market-looksThu, 07 Apr 2011 21:10:00 GMThttp://donnalefeverrealestate.com/blog/2011/04/06/nine-options-when-facing-foreclosure<font size="3" face="Tahoma"><font size="3" face="Tahoma"> <div align="left"><span style="font-size: 12pt">You may be facing foreclosure, so what are your options? Try to look at the situation more from a financial </span><span style="font-size: 12pt">standpoint rather than an emotional standpoint. This way you can more successfully analyze which option </span><span style="font-size: 12pt">might best suit your needs and desires to move you toward resolving your financial difficulty. One very </span><span style="font-size: 12pt">important thing to remember: <br /> <br /> Time is of the essence! It is&nbsp;time to think through your situation and make a </span><span style="font-size: 12pt">decision. Then take action right away so you have enough time to complete the solution you choose.</span></div> </font></font><strong><font color="#3365ff" size="4"><font color="#3365ff" size="4"><font color="#3365ff" size="4"> <p align="left"><span style="font-size: 12pt">Nine options when facing Foreclosure</span></p> </strong></font></font></font><font size="3" face="Tahoma"><font size="3" face="Tahoma"> <p align="left"><span style="font-size: 12pt">1.</span></font></font><strong><font size="3" face="Tahoma"><font size="3" face="Tahoma">Do Nothing&nbsp;</strong></font></font><font size="3" face="Tahoma"><font size="3" face="Tahoma"><span style="font-size: 12pt"><span style="font-size: 10pt">If a homeowner does nothing, they most likely will lose their home at foreclosure </span></span><span style="font-size: 12pt"><span style="font-size: 10pt">auction. Credit reports disclose this damaging information. Loan applications generally ask if the </span></span><span style="font-size: 12pt"><span style="font-size: 10pt">applicant has even been foreclosed upon.</span></span></p> <p align="left"><span style="font-size: 12pt">2.</span></font></font><strong><font size="3" face="Tahoma"><font size="3" face="Tahoma">Payoff/Refinance&nbsp;</strong></font></font><font size="3" face="Tahoma"><font size="3" face="Tahoma"><span style="font-size: 10pt">Completely paying off the entire loan amount plus any default amount and fees.&nbsp; </span><span style="font-size: 10pt">Usually this is accomplished through a refinance of the debt. New debt is normally at a higher interest </span><span style="font-size: 10pt">rate and there may be a prepayment penalty. With this option, there should be equity in the home.</span></p> <p align="left"><span style="font-size: 12pt">3.</span> </font></font><strong><font size="3" face="Tahoma"><font size="3" face="Tahoma">Reinstatement&nbsp;</strong></font></font><font size="3" face="Tahoma"><font size="3" face="Tahoma"><span style="font-size: 10pt">Paying the entire default amount plus interest, attorney fees, late fees, taxes, </span><span style="font-size: 10pt">missed payments and fees.</span></p> <p align="left"><span style="font-size: 12pt">4</span> </font></font><strong><font size="3" face="Tahoma"><font size="3" face="Tahoma">Loan Modification&nbsp;</strong></font></font><font size="3" face="Tahoma"><font size="3" face="Tahoma"><span style="font-size: 10pt">Utilizing the existing mortgage company to refinance the debt or extend or </span><span style="font-size: 10pt">modify</span> <span style="font-size: 10pt">the terms of the loan. To qualify, you must prove to the lender you have fixed the problem that </span><span style="font-size: 10pt">caused the late payment.</span></p> <p align="left"><span style="font-size: 12pt">5.</span></font></font><strong><font size="3" face="Tahoma"><font size="3" face="Tahoma">Forbearance/Mediation&nbsp;</strong></font></font><font size="3" face="Tahoma"><font size="3" face="Tahoma"><span style="font-size: 10pt">The lender may be able to arrange a repayment plan based on the </span><span style="font-size: 10pt">homeowner&#239;&#191;&#189;s financial situation. The lender may even be able to provide a temporary payment </span><span style="font-size: 10pt">reduction or suspension of payments. Information will be required from the lender to show that you </span><span style="font-size: 10pt">are able to meet the new payment plan requirements.</span></p> <div align="left"><span style="font-size: 12pt">6.</span></font></font><strong><font size="3" face="Tahoma"><font size="3" face="Tahoma">Partial Claim&nbsp;</strong></font></font><font size="3" face="Tahoma"><font size="3" face="Tahoma"><span style="font-size: 10pt"><font size="3" face="Tahoma"><font size="3" face="Tahoma"><span style="font-size: 10pt"><font size="3" face="Tahoma"><font size="3" face="Tahoma"><font size="3" face="Tahoma"><font size="3" face="Tahoma">A loan from the lender for a 2</font></font><font size="1" face="Tahoma"><font size="1" face="Tahoma">nd </font></font><font size="3" face="Tahoma"><font size="3" face="Tahoma">loan to include back payments, costs and fees.</font></font></font></font></span></font></font><font size="3" face="Tahoma"> <div>&nbsp;</div> <div></font></span></font></font><font size="3" face="Tahoma"><font size="3" face="Tahoma">7.</font></font><strong><font size="3" face="Tahoma"><font size="3" face="Tahoma">Deed in Lieu of Foreclosure&nbsp;</strong></font></font><font size="3" face="Tahoma"><font size="3" face="Tahoma"> <span style="font-size: 10pt">Give the property back to the bank instead of the bank foreclosing.&nbsp; </span><span style="font-size: 10pt">Banks generally require the home be well maintained, all mortgage payments and <span style="font-size: 10pt">taxes must</span></span><span style="font-size: 10pt"> be </span><span style="font-size: 10pt">current. Banks must approve this option. Most loan applications ask if this has ever happened.</span></div> </div> <p align="left"><span style="font-size: 12pt">8.</span></font></font><strong><font size="3" face="Tahoma"><font size="3" face="Tahoma">Bankruptcy&nbsp;</strong></font></font><font size="3"><font size="3"><span style="font-size: 10pt">This option can liquidate debt and/or allow more time. Speak with a qualified </span><span style="font-size: 10pt">Bankruptcy attorney.</span></p> </font></font><font size="3" face="SymbolMT"><font size="3" face="SymbolMT"> <p align="left"></font></font><strong><font size="3" face="Tahoma"><font size="3" face="Tahoma">Chapter 7: </strong></font></font><font size="3" face="Tahoma"><font style="font-size: 10pt" size="3" face="Tahoma">(Liquidation) To completely settle personal debt.</p> </font></font><font size="3" face="SymbolMT"><font size="3" face="SymbolMT"> <p align="left"></font></font><strong><font size="3" face="Tahoma"><font size="3" face="Tahoma">Chapter 13: </strong></font></font><font size="3" face="Tahoma"><font style="font-size: 10pt" size="3" face="Tahoma">(Wage Earner Plan) Payments are made toward a plan to pay off debts in 3-years.</p> </font></font><font size="3" face="SymbolMT"><font size="3" face="SymbolMT"> <div align="left"></font></font><strong><font size="3" face="Tahoma"><font size="3" face="Tahoma">Chapter 11: </strong></font></font><font size="3" face="Tahoma"><font size="3" face="Tahoma"><span style="font-size: 10pt"><font size="3" face="Tahoma"><font size="3" face="Tahoma"><span style="font-size: 10pt"><font size="3" face="Tahoma"><font size="3" face="Tahoma"><font size="3" face="Tahoma"><font size="3" face="Tahoma">(Business Re-Organization) A business debt solution</font></font></font></font></span>.</font></div> <div align="left">&nbsp;</div> <div align="left">&nbsp;</div> <div align="left"></font></span><span style="font-size: 12pt">9.</span></font></font><strong><font size="3" face="Tahoma"><font size="3" face="Tahoma">Sale&nbsp;</strong></font></font><font size="3" face="Tahoma"><font size="3" face="Tahoma"><span style="font-size: 10pt"><font size="3" face="Tahoma"><font size="3" face="Tahoma"><span style="font-size: 10pt"><font size="3" face="Tahoma"><font style="font-size: 10pt" size="3" face="Tahoma"><font size="3" face="Tahoma"><font size="3" face="Tahoma"><span style="font-size: 10pt"><font size="3" face="Tahoma"><font size="3" face="Tahoma"><font size="3" face="Tahoma"><font size="3" face="Tahoma"><font size="3" face="Tahoma"><font size="3" face="Tahoma"><font size="3" face="Tahoma"><font size="3" face="Tahoma">If the property has equity (money left over after all the loans and monetary encumbrances are</font></font>paid</font></font></font></font></font></font></span></font></font>), the homeowner may sell the home without lender approval through a conventional home sale.</font> <div>&nbsp;</div> <div>&nbsp;</div> </font></span></font></font></span>10.</font></font><strong><font size="3" face="Tahoma"><font size="3" face="Tahoma">Short Sale&nbsp;</strong></font></font><font size="3" face="Tahoma"><font style="font-size: 10pt" size="3" face="Tahoma"><span style="font-size: 10pt"><font size="3" face="Tahoma"><font size="3" face="Tahoma">Also known as a pre-foreclosure sale, a short sale can be negotiated with your lender by</font></font></span>a Real Estate Professional if what is owed is more than the properties value. The lender can agree to accept less than what is owed on the property as pay-off of the loan obligation.</div> </font></font><P><a href="http://donnalefeverrealestate.com/blog/2011/04/06/nine-options-when-facing-foreclosure" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2011/04/06/nine-options-when-facing-foreclosure#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2011/04/06/nine-options-when-facing-foreclosureWed, 06 Apr 2011 12:15:00 GMThttp://donnalefeverrealestate.com/blog/2010/12/27/short-sales-and-reos-continue-to-dominate-las-vegas-real-estate-market<div>&nbsp;</div> <div>&nbsp;</div> <div>Significant Changes are occurring in the Las Vegas Real Estate Market.&nbsp; Short Sale Listings in the Greater Las Vegas Association of Realtors Multiple Listing System passed the 50% mark for the first time.&nbsp; This occurred in November, 2010.</div> <div>&nbsp;</div> <div>In November there were 951 Bank Foreclosures, less than half of the 2,195 we saw in October, in fact, less than the half of the 1,900 average for the first ten months of this year.&nbsp; The reason is the "robo-signing" scandal which broke in September and October.</div> <div>&nbsp;</div> <div>It is anticipated that bank foreclosures will not snap back to the previous normal level of 1,900 because banks are finally realizing that they are better off pursuing short sales than they are pursuing foreclosures.</div> <div>&nbsp;</div> <div>The International Credit Rating group, Fitch Ratings, indicates; "Loss severalty's are expected to increase between 5% and 10% on residential mortgage-backed securities in 2010 as loss mitigation costs and foreclosure expenses go up."&nbsp; This is a national trend, and is part of the solution to our current housing crisis.&nbsp; </div> <div>&nbsp;</div> <div>November, 2010 sales in the Las Vegas Market:</div> <div>&nbsp;</div> <div> <table cellspacing="2" cellpadding="2" width="500" border="0"> <tbody> <tr> <td> <p>Short Sales&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$125,000 Average Sales Price</p> <div>Auction Sales&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 308&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$ 91,000 Average Sales Price</div> <div>&nbsp;</div> <div>REO Sales&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,597&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$111,000 Average Sales Price</div> <div>&nbsp;</div> <div>Non-Distressed&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,187&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $119,900 Average Sales Price</div> </td> </tr> </tbody> </table> </div> <div>&nbsp;</div> <ul> <li>Short Sales - A short sale is when the investor who hold the note agrees to take less than is owed.</li> <li>Auction Sale - A sale on the courthouse steps (in Las Vegas this occurs at the Nevada Legal News).&nbsp; The lender who holds the note sells the property for cash to a willing buyer.&nbsp; Property is purchased "as is" with no warranties.</li> <li>REO Sales - REO stands for "Real Estate Owned" and is a sale in which a lender who holds the note on the property has foreclosed on the property and listed it with a Real Estate Broker to sell the property.</li> <li>Non-Distressed - This is a typical seller who is not selling their property as a short sale. </li> </ul> <div>&nbsp;</div> <div>Note from the chart above that Short Sales have the highest average sales price when compared to all other sales.</div> <div>&nbsp;</div> <div>It is likely we have at least another two years of distressed property sales coming in the Las Vegas market.&nbsp; Currently 16% of homeowners are more than 60 days delinquent on their mortgage payment and 75% are underwater.&nbsp; Prices are likely to remain suppressed for the foreseeable future.</div> <div>&nbsp;</div> <div>With so many homes underwater and so many homeowners delinquent, why aren't banks foreclosing more quickly.&nbsp; Banks seem reluctant to foreclose on homes expeditiously, and many people are still living in their homes months even a year or more after they stopped making their payments.&nbsp; Banks sense the very precarious nature of the housing crisis.&nbsp; They realize that aggressively proceeding with foreclosing as their first remedy would be self defeating, driving prices down both lower and faster.&nbsp; That is the reasoning underlying the short sale.&nbsp; Leave the homeowner in the home, let him maintain the home, and help him out of his underwater condition.</div> <div>&nbsp;</div> <div>With that in mind, why wouldn't the bank "short sale" the home to the homeowner who is living in the property?&nbsp; If anyone has the answer to this let me know!</div> <div>&nbsp;</div> <div>&nbsp;<span style="font-size: 8pt">Thank you to James Fifield, Old Republic Title Company of Nevada for his fast facts!</span></div><P><a href="http://donnalefeverrealestate.com/blog/2010/12/27/short-sales-and-reos-continue-to-dominate-las-vegas-real-estate-market" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2010/12/27/short-sales-and-reos-continue-to-dominate-las-vegas-real-estate-market#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2010/12/27/short-sales-and-reos-continue-to-dominate-las-vegas-real-estate-marketMon, 27 Dec 2010 12:04:00 GMThttp://donnalefeverrealestate.com/blog/2010/12/07/ten-tips-to-mental-toughness<div>&nbsp;<span style="font-size: 14pt"><span style="font-size: 12pt"><span style="font-size: 10pt">Michael&#239;s Monday Minute<br /> <br /> Ten Tips To Toughness<br /> Recently, well recently in my world, I was delivered a magnificent opportunity. I underwent two brain surgeries in the last 4 years. </span> <div></span></span><br /> <span style="font-size: 14pt"><span style="font-size: 12pt"><span style="font-size: 10pt">Oh, I can read your thoughts and it &#239;s ok. It took me awhile to see this painful, irritating, confusing, inconvenient and seemingly endless medical issue as an opportunity. I don't expect you to embrace the concept right away.</span></span></span></div> </div> <div><br /> <span style="font-size: 14pt"><span style="font-size: 12pt"><span style="font-size: 10pt">What I was ultimately taught was;<br /> TEN TIPS TO TOUGHNESS<br /> <br /> 1. Ensure that you are always saying encouraging things under pressure.<br /> <br /> 2. Recall past personal successes, just before and during high pressure situations.<br /> <br /> 3. Ensure that all thoughts of failure are rejected as soon as they enter your mind.<br /> <br /> 4. Anticipate what might go wrong before it actually does, and prepare for the eventuality.<br /> <br /> 5. Get involved in high-pressure situations, do not avoid such situations, relish in being involved at the most pressure-filled points.<br /> <br /> 6. No matter what distracting or upsetting thing happens when under pressure, remind yourself about your original aim, stay focused on your goal.<br /> <br /> 7. If something goes wrong, do not interpret this as you being a entirely worthless person.<br /> <br /> 8. Review past mistakes in pressure situations and improve your skills to overcome your mistakes.<br /> <br /> 9. Confide in close friends to seek ways to improve your skills, it takes strength to admit weaknesses.<br /> <br /> 10. Learn to take risks and accept the inevitable failures, as part of the process of&nbsp;training yourself to become mentally tough.</span></span></span></div> <div><span style="font-size: 10pt">&nbsp;</span></div> <div><span style="font-size: 14pt"><span style="font-size: 10pt">Mental Toughness is required to ultimately meet you goals!&nbsp; Don't give up....get tough!<br /> <br /> </span></span></div><P><a href="http://donnalefeverrealestate.com/blog/2010/12/07/ten-tips-to-mental-toughness" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2010/12/07/ten-tips-to-mental-toughness#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2010/12/07/ten-tips-to-mental-toughnessTue, 07 Dec 2010 14:07:00 GMThttp://donnalefeverrealestate.com/blog/2010/11/22/take-a-minute-for-michaels-monday-minute&nbsp; <p><strong><span style="font-family: 'HandelGothic BT'">Michael’s </span></strong><strong><span style="font-size: 24pt; line-height: 115%; font-family: 'HandelGothic BT'">MONDAY MINUTE</span></strong><strong></strong></p> <p>&nbsp;</p> <p>When we were kids anything was possible and nobody told us “no you can’t.” So, what happened to our dreams? </p> <p>&nbsp;Somewhere along the way we stop dreaming and start doing, which is when it all stops. That is when our lives start to lose purpose and when we stop growing. </p> <p>&nbsp;Those dreams we had as kids were like a magnet which pulled us to what we wanted in life- they made us excited to go for it every day.&nbsp;Think about the last time you truly thought about what you wanted to be when you grew up? </p> <p>&nbsp;Growing into what you want to become does not have to stop. We can breakaway and get off the hamster wheel anytime and start moving forward again like when we were kids. We just have to take time to dream and believe. Break away from the pack, and go for it. Don’t blend in. Be different.</p> <p>&nbsp;It is uncomfortable at first when you step outside of your comfort zone and get off the hamster wheel where it was safe. But if you have the courage, there is still a lot more you can accomplish in this life.</p> <p>Make Monday the start of a great week.</p> <p><strong><em><span style="font-size: 16pt; line-height: 115%; font-family: 'HandelGothic BT'">MD</span></em></strong></p> <p>Michael Donovan</p><P><a href="http://donnalefeverrealestate.com/blog/2010/11/22/take-a-minute-for-michaels-monday-minute" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2010/11/22/take-a-minute-for-michaels-monday-minute#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2010/11/22/take-a-minute-for-michaels-monday-minuteMon, 22 Nov 2010 18:06:00 GMThttp://donnalefeverrealestate.com/blog/2010/10/18/foreclosure-moratorium-opinion-from-distressed-property-consultants<p><font size="3">Distressed Property Consultants, Inc. </p> </font><font face="Calibri,Calibri" size="3"><font face="Calibri,Calibri" size="3"> <p>October 18, 2010 </p> <p>Dear Friends and Colleagues, </p> <p>I was asked by a colleague how everything that is going on affects me. After all, the news is flooded with stories regarding the bank initiated foreclosure moratorium, the attorneys general in each of the 50 states launching foreclosure investigations, and today, the Obama administration inserting their opinion regarding the moratorium. Confidently, I replied, "There is no better time to be doing short sales." </p> <p>Disclaimer One: In the time taken to write this opinion, something has changed. Disclaimer Two: Not all banks are doing the same thing, so keeping things straight may be confusing. Disclaimer Three: The Obama administration officially became involved as of this morning, see Disclaimer One. </p> <p>In short, some banks have suspended foreclosures while they review their procedures and others are proceeding with foreclosures while doing process reviews. For example, Bank of America has suspended foreclosures in all 50 states and has stopped foreclosure sales until their assessment has been completed, while GMAC Mortgage, now a division of Ally Financial, has suspended evictions and foreclosures in the 23 states that call for a judge's approval and is reviewing foreclosure practices in the other states. </p> <p>Additionally, PNC Financial Services and Litton Loan Services are reviewing their practices. JPMorgan Chase suspended foreclosures in the 23 judicial approval states and is reviewing its practices in a handful of the other states. Wells Fargo, Citigroup and U.S. Bancorp have not announced a suspension of foreclosures even though they are on the list of banks to be scrutinized by regulators and attorneys general. </p> <p>Delays will be costly for banks and taxpayers, because banks and government-owned Freddie Mac and Fannie Mae must continue to pay maintenance and other expenses on foreclosed properties being held in inventory. Time is of the essence. According to Radar Logic, a New York based real estate research and analytics firm, there are currently 3.1 million homes in the federal government&#239;&#191;&#189;s REO inventory or headed toward it. </p> <p>This is a window of opportunity for you and me if I have ever seen one! It is my opinion, and the opinion of Rick Sharga, Senior Vice President at RealtyTrac, that short sales will not be negatively affected by this foreclosure mess. Short sales have and remain the better option for the distressed seller and for the bank. But now, at least for a time, short sale are the better option, and may be the only option, for the buyer. </p> <p>It is not clear how long the moratorium will last or length of time needed for thorough investigations to be completed. Expert opinions range from three months to 12 months. It seems logical to believe the collective effort will be well underway by year&#239;&#191;&#189;s end. We should not be concerned with the duration of </p> <p>the moratorium, because short sales will be strong regardless. My concern is with what may be uncovered during the investigation that requires further attention. Can of worms, anyone? </p> <p>In conclusion, this is not a "Get Out of Jail Free" card. Bank of America said, "We will stop foreclosure sales until our assessment has been satisfactorily completed." They did not say they would stop the process of due diligence and disclosure. Distressed sellers have bought some time, so to speak, but if they are not making mortgage payments, banks will preserve their assets to the best of their ability. </p> <p>If you have questions or comments, feel free to contact me at my office at (801) 994-9620 or by email at charles@distressedpropertyconsultants.com . </p> <p>Best regards, </p> <p>Charles Cease </p> <p>CEO </font></font><font face="Calibri,Calibri" size="2"><font face="Calibri,Calibri" size="2"></p> </font></font><P><a href="http://donnalefeverrealestate.com/blog/2010/10/18/foreclosure-moratorium-opinion-from-distressed-property-consultants" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2010/10/18/foreclosure-moratorium-opinion-from-distressed-property-consultants#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2010/10/18/foreclosure-moratorium-opinion-from-distressed-property-consultantsMon, 18 Oct 2010 13:41:00 GMThttp://donnalefeverrealestate.com/blog/2010/06/03/windermere-real-estate-to-donate-25000-to-hopelink<p style="text-align: center" align="center"><em><span style="font-size: 14pt">Grant will enable nonprofit to continue fighting homelessness through 2011</span></em></p> <p>&nbsp;</p> <p>Robyn Yates, V.P. of Marketing for Windermere Real Estate, announced today the company's charitable foundation has selected Henderson Allied community Advocates, dba HopeLink, to receive its entire 2009 endowment, to put toward its homelessness prevention efforts. The $25,000 donation will be made official at a check presentation ceremony to be held at the non-profit organization's headquarters in Henderson, on June 9, 2010.</p> <p>The 2009 endowment of $25,000 came from Windermere agents.&nbsp;For every transaction a Windermere agent made in the Las Vegas valley, a fee was donated to the foundation.&nbsp;Windermere agents care about the community they live in.</p> <p>Established in Henderson in 1991, HopeLink focuses on preventing homelessness for families in crisis. For more than 18 years, the organization has worked to stabilize families and transition them back to permanent housing, through such services as emergency shelter, food pantry, transportation assistance and more.</p> <div>The grant from the Windermere Foundation will allow HopeLink to provide payment for approximately 75 weeks of temporary shelter for individuals and families on the brink of homelessness, as well as transportation assistance for clients in shelter and some administrative costs.</div> <div><br /> </div> <div>"We are so thankful to be receiving these funds. HopeLink's emergency shelter program is really geared to assist those who cannot be served by other programs, homeless individuals being discharged with medical conditions from hospitals, families who cannot be accommodated in other shelters, families with adult disabled children, and others who just can't be served in a typical environment," said Daniele Dreitzer, executive director of HopeLink. "We are seeing more and more families with children who just can't keep their homes with the current economic situation. It can take several weeks, and sometimes longer to get families stabilized and into other programs. These funds will enable us to serve families that need additional assistance for a longer period of time, with an eye towards long term stability."</div> <p>For the first time ever, Windermere's three Southern Nevada offices voted to combine their annual donations to the Windermere Foundation, for the purpose of awarding it to a single charity. Windermere held a call for submissions throughout the month of April, and Hopelink was among dozens of local non-profit organizations that applied to receive the grant.</p> <p>"Being in real estate, we put families in homes everyday," said Yates. "Through our donations to the Windermere Foundation, we are able to provide housing for in-need families in all of our communities. It is our way of showing how blessed we feel as a company to be in such a position to give back."&nbsp;</p> <p>The mission of the Windermere Foundation is to support homeless and low-income families. Nationally, non-profit agencies receiving Windermere Foundation dollars have furnished emergency and transitional housing, have subsidized costs for services such as health care, employment counseling, placement and training, day care, scholarships and much more. Contributions from Windermere agents combined with contributions from Windermere employees and the public have allowed the Windermere Foundation to distribute over $2 million annually in recent years to non-profit agencies dedicated to helping homeless and low-income families.</p> <p>The check presentation ceremony will be held from 3:30 to 4:30 p.m. on June 9, 2010, at 178 Westminster Way in Henderson. Refreshments will be served, courtesy of Panera Bread.</p> <p>&nbsp;</p><P><a href="http://donnalefeverrealestate.com/blog/2010/06/03/windermere-real-estate-to-donate-25000-to-hopelink" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2010/06/03/windermere-real-estate-to-donate-25000-to-hopelink#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2010/06/03/windermere-real-estate-to-donate-25000-to-hopelinkThu, 03 Jun 2010 22:35:00 GMThttp://donnalefeverrealestate.com/blog/2010/04/02/foreclosure-vs-short-sales<div>Homeowner Consequences</div> <div>&nbsp;</div> <div> <table cellspacing="2" cellpadding="2" width="500" border="0"> <tbody> <tr title="Homeowner Consequences" valign="middle" align="center" bordercolor="#993300" bgcolor="#ffffff" width="3"> <td>Issue&nbsp;&nbsp;&nbsp; </td> <td>Foreclosure</td> <td>Successful Short Sale&nbsp;</td> </tr> <tr> <td style="font-size: 10pt"> <p>&nbsp;Future Fannie Mae Loan-Primary Residence</p> </td> <td>A homeowner who loses a home to foreclosure is ineligible for a Fannie Mae-backed mortgage for a period of 5 years.</td> <td>A homeowner who successfully negotiates and closes a short sale will be eligible for a Fannie Mae-backed mortgahge after 2 years.</td> </tr> <tr> <td>Future Fannie Mae Loan-Non Primary Residence</td> <td>An investor who allows a property to go to forewclosure is inelligible for a Fannie Mae-backed investment mortgage for a period of 7 years.&nbsp;&nbsp;&nbsp;</td> <td>An investor who successfully negotiates and closes a short sale will be eligible for a Fannie Mae-backed investment mortgage after 2 years.</td> </tr> <tr> <td>Credit Score&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td> <td>Score may be lowered anywhere from 250 to more than 300 points.&nbsp; Typically will affect a credit score for over 3 years.</td> <td>Late payments on mortgage will show, and after sale, mortgage is normally reported as "paid as agreed," paid as negotiated," or "settled."&nbsp; This can lower the score as little as 50 points if all other payments are being made.&nbsp; A short sale's effect can be as brief as 12 to 18 months.</td> </tr> <tr> <td>Credit History</td> <td>Foreclosure will remain as a public record permanently, and on a person's credit history for 10 years or more.</td> <td>A short sale is not reported on a credit history.&nbsp; There is no specific reporting item for "short sale."&nbsp; The loan is typically reported "paid in full, settled."</td> </tr> </tbody> </table> </div> <div>&nbsp;</div><P><a href="http://donnalefeverrealestate.com/blog/2010/04/02/foreclosure-vs-short-sales" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2010/04/02/foreclosure-vs-short-sales#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2010/04/02/foreclosure-vs-short-salesFri, 02 Apr 2010 17:06:00 GMThttp://donnalefeverrealestate.com/blog/2010/02/24/home-affordable-foreclosure-alternatives-hafa<div>The Home Affordable Foreclosure&nbsp;Alternative will launch on April 5, 2010.&nbsp;&nbsp; Homeowners struggling to sell their homes in a short sale are getting some relief, thanks to the federal government's HAFA program.&nbsp; </div> <div>&nbsp;</div> <div>Up until now, many short sales - in which the lender accepts a sale of the property for less than the full amount owed - have taken months to complete.&nbsp; Sometimes, the complex and lengthy process has failed, resulting in foreclosure.</div> <div>&nbsp;</div> <div>Prior to the HAFA program, homeowners listed their homes for sale without any idea if the lender holding their note (or notes) would accept the short sale.&nbsp; </div> <div>&nbsp;</div> <div>Under the Home Affordable Foreclosure Alternative program, borrowers receive the preapproved short sale terms from the lender prior to putting the home on the market.&nbsp; The updated short sale guidelines establish easy to understand process with pre-defined steps that make it easier for everyone to understand.</div> <div><strong>&nbsp;</strong> <div><strong>Eligibility Requirements</strong></div> </div> <div><u></u>&nbsp;</div> <div>The HAFA guidelines apply to lenders who voluntarily participate in the HAMP (Home Affordable Modification Program). &nbsp;The <YGG:ENTITY id="t1" ref="#TNIh0HT73BGcQT93XWfsEA">Department of Housing and Urban Development</YGG:ENTITY> says more than 100 servicers have signed up to participate in HAMP, covering more than 89 percent of mortgage debt outstanding in the country<u>.</u> <div>&nbsp;</div> To be eligible for HAFA, homeowners must first apply for a loan modification through the <a href="http://makinghomeaffordable.gov/" target="_blank" rel="nofollow">Home Affordable Modification Program</a>, or HAMP. Owners who do not qualify for a loan modification or miss payments during the initial loan modification period qualify for HAFA.<br /> </div> <div>&nbsp;</div> <div><strong>Property and Homeowner Requirements.</strong> <div> <ul> <li>Property is principal residence.</li> <li>Mortgage originated before Jan. 1, 2009.</li> <li>Mortgage is owned or guaranteed by <YGG:ENTITY id="t2" ref="#xE1c9hH23BGXl8h4XWfsEA">Fannie Mae</YGG:ENTITY> or <YGG:ENTITY id="t3" ref="#lt9c9hH23BGXl8h4XWfsEA">Freddie Mac</YGG:ENTITY>.</li> <li>Borrower is delinquent or default is foreseeable.</li> <li>Homeowner demonstrates hardship.</li> <li>Borrower's total monthly housing payment exceeds 31 percent of gross income.</li> <li>Unpaid principal does not exceed $729,750. </li> </ul> <p class="hide">&nbsp;According to HAFA rules, lenders now must offer a short sale in writing to the borrower within 30 days if the borrower does not qualify for or complete a loan modification. Borrowers then must respond within 14 days to the lender's short sale agreement.</p> <p>&nbsp;When a purchase offer is made, borrowers must submit the sales contract to the lender within three days, along with the buyers' mortgage preapproval and the status of negotiations with other lien holders on the seller's property.</p> <p>Finally, lenders must approve or deny the contract within 10 days.</p> <p>HAFA rules also state that lenders must release borrowers from the obligation to repay the difference between the sales price and the loan amount. <strong>No deficiency judgments are allowed for a first or second loan. </strong> <h2 style="font-size: 12pt"><span style="font-size: 10pt">In the past, short sales were especially difficult for homeowners with more than one loan on their home, since the home sale typically repaid only the first mortgage. HAFA's financial incentives include a payment of up to $3,000 for second mortgage holders</span>. </h2> <p>&nbsp;</p> <p>Other HAFA financial incentives include $1,000 to loan servicers to cover administrative fees, up to $1,000 for mortgage investors who agree to share short sale proceeds&nbsp;with second lien holders and $1,500 to the homeowners for relocation.</p> <p>The moving expense allocation acts as an incentive for them to stay in the property until the short sale goes through.&nbsp;&nbsp;<span class=" href_cetemp=" ?><cite><cite><cite><cite></p> </cite></cite></cite></cite></span></div> </div><P><a href="http://donnalefeverrealestate.com/blog/2010/02/24/home-affordable-foreclosure-alternatives-hafa" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2010/02/24/home-affordable-foreclosure-alternatives-hafa#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2010/02/24/home-affordable-foreclosure-alternatives-hafaWed, 24 Feb 2010 21:20:00 GMThttp://donnalefeverrealestate.com/blog/2010/02/10/short-sale-approvals-by-banks-increase-dramatically-while-foreclosures-slide<div>Las Vegas and Clark County lead the country in Short Sales. &nbsp;In January of 2009 approved short sales were less than 200 properties. &nbsp;By January of 2010 approvals were over 700 a month.&nbsp;</div> <div><br /> </div> <div>In early 2009 Short Sales averaged 7 to 8 percent of the total home closings. &nbsp;By end of year that percentage had increased to nearly 25% of the total market of closings.</div> <div><br /> </div> <div>There has been a dramatic decrease in foreclosure activity in Las Vegas. &nbsp;With the Federal Treasury putting pressure on Banks to either offer loan modifications or approve short sales, banks are foreclosing on fewer properties. &nbsp;The Treasury Department is offering incentives on short sales by providing a $2,500 subsidy, $1,000 to the servicer and $1,500 to the seller for moving expenses. &nbsp;In addition investors can get $1,000 by allowing subordinate lenders to get $3,000 in proceeds from the sale. &nbsp;The program is effective April 5th but servicers can implement it earlier.</div> <div><br /> </div> <div>It is costly for lenders to go through the legal process of foreclosing. &nbsp; Short Sales are so much better for neighborhoods. &nbsp;Sellers selling their home on a short sale are generally still living in and caring for the home during the marketing and closing process. &nbsp;This enhances the neighborhood because that Short Sale is one less foreclosure in the community.</div> <div><br /> </div> <div>Banks have really gotten organized in the past year to more effectively process and handle these Short Sales. &nbsp;Many Banks have pulled Asset Managers from their Foreclosure departments and moved them to their Loss Mitigation (Short Sale) departments as Negotiators. &nbsp;In addition Banks have moved the entire process from a pen and paper system to the same on line transaction systems that they are using to process their Foreclosures.&nbsp;</div> <div><br /> </div> <div>In general a Short Sale is a more acceptable solution to most lenders than foreclosure. &nbsp; Working with the bank to find a solution through Short Sale rather than walking away from the property demonstrates &nbsp;higher level of cooperation.</div> <div><br /> </div> <div>Homeowners should consult their attorney and Certified Public Accountant to review the potential consequences of Short Sale and Foreclosure. &nbsp;Windermere Real Estate has partnered with Distressed Property Consultants an attorney backed Short Sale processing firm that works in concert with the professional Windermere agent and provides attorneys to represent the homeowner to advise the seller and negotiate with the lender to minimize and/or alleviate deficiency judgments and promissory notes.&nbsp;</div> <div><br /> </div> <div>For more information go to: &nbsp; www.choosewindermere.com/Nevada/Short Sales&nbsp;</div> <div>&nbsp;</div> <div>&nbsp;</div><P><a href="http://donnalefeverrealestate.com/blog/2010/02/10/short-sale-approvals-by-banks-increase-dramatically-while-foreclosures-slide" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2010/02/10/short-sale-approvals-by-banks-increase-dramatically-while-foreclosures-slide#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2010/02/10/short-sale-approvals-by-banks-increase-dramatically-while-foreclosures-slideWed, 10 Feb 2010 22:04:00 GMThttp://donnalefeverrealestate.com/blog/2010/01/19/what-is-earnest-money-how-do-i-get-it-back-if-there-is-a-dispute<div align="justify">Well, earnest money is the money you would put down to demonstrate your seriousness about buying that home. In order to prove your seriousness the earnest money must be large enough to demonstrate good faith and is usually between 1-5% of the purchase price (though the amount can vary with local customs and conditions). </div> <ul> <li> <div align="justify">If your offer is accepted, the earnest money becomes part of your down payment or closing costs</div> </li> <li> <div align="justify">If the offer is rejected, your money is returned to you</div> </li> <li> <div align="justify">If you back out of a deal, you may forfeit the entire amount</div> </li> <li> <div align="justify">If either party refuses to execute the nessecary documents required to release the earnest money (See NRS645a.175 3.(a) very interesting )</div> </li> </ul> <p align="justify"><img border="0" hspace="10" alt="" vspace="10" align="right" src="http://utah.choosewindermere.com/images/woman_arguing1245421967.jpg" width="130" height="195" />*** NRS 645A.175&nbsp; Duty to execute documents necessary to release money deposited in escrow; exception for good faith disputes; recovery of damages for failure to execute; award of attorney’s fees.<br /> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.&nbsp; Except as otherwise provided in subsection 2 or in the escrow agreement between the parties and the holder of the escrow, upon the close of an escrow for the sale of real property or on the date the escrow is scheduled to close if it has not closed, each party shall execute the documents necessary to release the money deposited in the escrow.<br /> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.&nbsp; A party may refuse to execute a document necessary to release the money deposited in the escrow only if a good faith dispute exists concerning that money.<br /> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <span style="background-color: #ffff99">3.&nbsp; Except as otherwise provided in NRS 645.8701 to 645.8811, inclusive, if a party refuses to execute a document necessary to release the money deposited in the escrow within 30 days after the holder of the escrow makes a written request for the execution, the party injured by the failure of the other party to execute the document may collect from that party:<br /> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) Actual damages of not less than $100 nor more than 1 percent of the purchase price of the real property for which the money was deposited in the escrow, whichever is greater;<br /> </span>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) The money deposited in the escrow which was not held to resolve a good faith dispute concerning the sale of the property; and<br /> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) A reasonable attorney’s fee.<br /> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Added to NRS by 1995, 1527; A 1999, 1180)</p><P><a href="http://donnalefeverrealestate.com/blog/2010/01/19/what-is-earnest-money-how-do-i-get-it-back-if-there-is-a-dispute" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2010/01/19/what-is-earnest-money-how-do-i-get-it-back-if-there-is-a-dispute#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2010/01/19/what-is-earnest-money-how-do-i-get-it-back-if-there-is-a-disputeTue, 19 Jan 2010 11:36:00 GMThttp://donnalefeverrealestate.com/blog/2009/11/26/take-back-your-power<div>&nbsp;&nbsp; </div> <p><strong>It is time to let go of the economy and take control of your existence</strong>.&nbsp;You can either give away your power to; the economy, the market or the story of the day.&nbsp;Giving away personal power is giving away your control, hope and happiness.&nbsp;There is always a story for why things aren't&nbsp;going well.&nbsp;Today, this moment, take your power back!</p> <p>&nbsp;Personal power is the ability to achieve what you want.&nbsp;More than anything else, it is personal power that brings you success and happiness.&nbsp;There have been some that have felt powerless in the economic climate of the past months.</p> <p>&nbsp;Power is a multi-faceted concept.&nbsp;You experience a sense of personal power when you feel in control of your life.&nbsp;Power is the ability to achieve goals.&nbsp;It is also the ability to influence others.&nbsp;Considerable power comes from the ability to communicate.&nbsp;Power includes enthusiasm and optimism.&nbsp;Your energy level is related to your power.&nbsp;You have personal power when you are the master of your destiny.&nbsp;Power is related to self-esteem and confidence.&nbsp;The freer you are, the more you tend to experience your power.</p> <div style="margin: 0in 0in 0pt" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<span style="color: #000000"><span style="color: #000000">&nbsp;<span style="color: #008000"><span style="color: #008000">&nbsp;<span style="color: #000000">&nbsp;<span style="font-size: 10pt; color: #000000"><span style="font-size: 12pt">&nbsp;</span><span style="font-family: Symbol"><span style="font-size: 12pt"><span style="font-size: 10pt">&#183;<span style="font: 7pt 'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <span style="font-size: 10pt">We give away our power&nbsp;-&nbsp;people can't take it without our perrmission</span></span></span></span> <div><span style="font-size: 12pt"><span style="font-size: 10pt"><span style="font-size: 10pt">&nbsp;&nbsp;&nbsp;</span></span></span></div> </span><span style="font-family: Symbol"><span style="font-size: 12pt"><span style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#183;<span style="font: 7pt 'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp;</span></span></span></span></span></span></span></span></span></span><span style="color: #008000"><span style="color: #008000"><span style="color: #000000"><span style="color: #000000"><span style="font-size: 12pt"><span style="font-size: 10pt"><span style="font-family: Symbol"><span style="font: 7pt 'Times New Roman'">&nbsp;&nbsp;&nbsp; </span></span>We allow people and things to have an unhealthy level of control and influence in our life </span></span></span></span></span></span></div> <p style="margin-left: 0.5in; text-indent: -0.25in" align="left"><span style="color: #008000"><span style="color: #008000"><span style="color: #000000"><span style="color: #000000"><span style="font-size: 12pt"><span style="font-size: 10pt"><span style="font-family: Symbol">&#183;<span style="font: 7pt 'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span>Getting angry, bitter and/or resentful at others will fix nothing.</span></span></span></span></span></span></p> <p style="margin-left: 0.5in; text-indent: -0.25in" align="left"><span style="color: #008000"><span style="color: #008000"><span style="color: #000000"><span style="color: #000000"><span style="font-size: 12pt"><span style="font-size: 10pt"><span style="font-family: Symbol">&#183;<span style="font: 7pt 'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span>Positive change starts with awareness, understanding and acknowledgement </span></span></span></span></span></span></p> <p style="margin-left: 0.5in; text-indent: -0.25in" align="left"><span style="color: #008000"><span style="color: #008000"><span style="color: #000000"><span style="color: #000000"><span style="font-size: 12pt"><span style="font-size: 10pt"><span style="font-family: Symbol">&#183;<span style="font: 7pt 'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span>The situation will change when you change.&nbsp;</span></span></span></span></span></span></p> <p><span style="color: #008000"><span style="color: #008000"><span style="font-size: 12pt"><span style="font-size: 10pt">&nbsp;</span></span></span></span></p> <div><strong><em><span style="font-size: 16pt">Take back your personal Power by following these steps:</span> <div>&nbsp;</div> </em></strong><strong><span style="color: black">1.<span style="font: 7pt 'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></strong><strong><span style="color: black">Challenge Yourself.&nbsp;</span><span style="color: #ff6600">&nbsp;</span></strong>All too often our desire to live a comfortable, painless, easy and safe existence (all things driven by fear) is the very thing that kills our potential, our productivity, our ability to develop and ultimately, our spirit. In order to take back your power you will need to be courageous.&nbsp;Being courageous is a choice.&nbsp;Be prepared to be uncomfortable and understand that is part of the growth process and part of taking back your power.&nbsp;&nbsp; Personal power is doing what you need to do to make your dreams come true.&nbsp;Many times this means doing something different than you are doing now!&nbsp; Otherwise you will keep getting the same results!</div> <div align="left">&nbsp;</div> <div align="left"><strong><span style="color: black">2.<span style="font: 7pt 'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></strong><strong><span style="color: black">Face your fears.</span></strong> You can never take back your power until you confront the things that scare you. Being fearful does not represent weakness but rather humanity.&nbsp;Fear is something we can use for our personal development.&nbsp;Fear is personal.&nbsp;We all have our own personal fears.&nbsp;Today choose two of those fears to face.&nbsp;These fears can range from learning a new technology to bungee jumping.&nbsp;</div> <div align="left">&nbsp;</div> <div align="left"><strong><span style="color: black">3.<span style="font: 7pt 'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></strong><strong>Substitute gratitude for envy</strong>.&nbsp;There is always someone or something that is bigger and better. This is a losing game.&nbsp;Focus on gratitude for all that you have been blessed with; health, friendship, professional associates and peace.&nbsp;The only antidote for envy is appreciation.</div> <p align="left">&nbsp;<strong><span style="color: black">4.<span style="font: 7pt 'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></strong><strong>Take control of your health</strong>.&nbsp;Exercise.&nbsp;The kind of exercise that empowers you is the kind that lets mind and body sing together as one.&nbsp;Find the exercise that induces a positive mental state and that is enjoyable to you.&nbsp;Maybe walking is empowering to you because you are expanding the scope of your surroundings.&nbsp;Yoga can bring tone and strength to mind and body.&nbsp;For some it is a game of tennis or golf.&nbsp;</p> <p align="left">&nbsp;<strong><span style="color: black">5.<span style="font: 7pt 'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></strong><strong>Get Inspired and Inspire others.</strong>&nbsp;Surround yourself with others who inspire and challenge you.&nbsp;Working together with like minded committed and inspired individuals is exciting and productive.&nbsp;</p> <p style="margin-left: 0.5in; margin-right: 0.5in" align="left">"Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, It is the only thing that ever has."</p> <div align="left"><cite>Margaret&nbsp;Mead</cite> <div>&nbsp;</div> <strong><span style="color: black">6.<span style="font: 7pt 'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></strong><strong><span style="color: black">Enhance and protect your brand&nbsp; </span></strong>&nbsp;Associate with people, organizations, situations and products that enhance your reputation and that are <strong><em>visionary</em></strong>.&nbsp;&nbsp; In the professional world your brand is your power.&nbsp;Your company brand should empower you with the latest tools, technology and marketing to enhance your business.&nbsp;</div> <p align="left"><strong>7. Keep re-inventing yourself</strong>.&nbsp;Being stagnant and inflexible in a dynamic world is a sure-fire way to become redundant, unnecessary and powerless. While your core values, beliefs and standards might remain constant, it is important that you continue to adapt</p> <p align="left">"&nbsp;<span style="font-size: 10pt; font-family: Verdana">Be thankful for what you have; you'll end up having more. If you concentrate on what you don't have, you will never, ever have enough.</span> "<br /> <span style="font-size: 10pt; font-family: Verdana"><a href="http://www.brainyquote.com/quotes/quotes/o/oprahwinfr163087.html"><span style="letter-spacing: 0pt">Oprah Winfrey</a></span></span></p> <p align="left">&nbsp;</p><P><a href="http://donnalefeverrealestate.com/blog/2009/11/26/take-back-your-power" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2009/11/26/take-back-your-power#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2009/11/26/take-back-your-powerThu, 26 Nov 2009 18:07:00 GMThttp://donnalefeverrealestate.com/blog/2009/10/05/the-phone-every-real-estate-agent-should-buy<div align="justify"><span style="font-size: 12pt">MY PERSONAL RECOMMENDATION, THE&nbsp;HTC PRO2 (<a style="font-size: 12pt" href="http://www.htc.com/us/product/t-mobiletouchpro2/VideoPlayer.html" target="_blank">Watch the Video</a>)<br /> </span><br /> </div> <div align="justify"><img border="0" alt="" align="right" src="http://utah.choosewindermere.com/images/Verizon-HTC-Touch-Pro2-official.jpg" width="225" height="225" /></div> <div align="justify">The HTC PRO 2&nbsp;is possibly the most highly anticipated Windows Mobile device of all time. It marks the return of the tilting screen made popular by the HTC TyTN II (and its many variants such as the AT&amp;T Tilt), plus the debut of some new technologies out of HTC that should very much appease the Windermere Real Estate professional. Introducing the HTC Touch Pro2. Form meets function. They tilt. A smart design, a speedy connection, and a big, bright touch screen that tilts. This is the smartphone you've been waiting for. The Touch Pro2's commanding design offers a 3.6 vibrant tilting touch screen. Slide out your screen to reveal a full-size keyboard to make email and texting faster. </div> <p align="justify">The Touch Pro2 offers seamless integrated features that enable you to stay connected, informed, and in control&nbsp;with one touch. Put people at the center of your communication access all their calls, SMS, emails, and even status updates right from their contact card. Windows Mobile lets you manage your Word, Excel, and PowerPoint documents on the go. With</p> <div align="justify">HTC's Straight Talk, you can turn your device into a professional quality speakerphone by the simple act of flipping it over.</div> <div align="justify">&nbsp;</div> <div align="justify">It's not all business with the Touch Pro2 with instant access to YouTube videos and the ability to take and send video and pictures with a 3.2 megapixel camera, you'll find endless entertainment.<br /> </div> <div align="center">...(Continued)...</div><P><a href="http://donnalefeverrealestate.com/blog/2009/10/05/the-phone-every-real-estate-agent-should-buy" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2009/10/05/the-phone-every-real-estate-agent-should-buy#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2009/10/05/the-phone-every-real-estate-agent-should-buyMon, 05 Oct 2009 14:53:00 GMThttp://donnalefeverrealestate.com/blog/2009/08/30/short-sales-what-everyone-needs-to-know<div style="color: red"><strong style="font-size: 12pt">SHORT SALES - WHAT EVERYONE NEEDS TO KNOW</strong></div> <div>&nbsp;</div> <div><strong style="font-size: 10pt">Summary Data on Short Sales</strong></div> <div>&nbsp;</div> <ul> <li>Short Sales are About 15% of National Housing Market</li> <li>First-Time buyers are nearly half of Short Sale Buyers</li> <li>Short Sale Properties sell at 15 - 20% less than non-distressed properties</li> <li>Expect 2 Months for "yes" or "No" response to offers</li> <li>Three offers for every completed short sale</li> <li>Expect an Average of 4 Months on market</li> <li>5% total commission is most common; 6% does happen</li> </ul> <p><span style="color: #ff0000"><span style="color: #ff0000"><strong><em>What should Homeowners who have challenges meeting mortgage payments do?</em></strong></span></span></p> <ul> <li> <div style="color: red"><span style="color: red"><span style="color: #000000">Homeowners having difficulty making their mortgage payments should talk to their mortgage servicer or a housing counselor as early as possible.</span></span><span style="color: red"><span style="color: #000000"><span style="color: #000000">The servicer may not be the same company that originated the homeowners mortgage.</span></span></span></div> </li> <li> <div style="color: red"><span style="color: red"><span style="color: #000000"><span style="color: #000000">The servicer will work with their customers to find viable alternatives to foreclosure where possible.</span></span></span></div> </li> <li> <div style="color: red"><span style="color: red"><span style="color: #000000"><span style="color: #000000">A servicer may own the loans they service and/or service the loans for investors so the ultimate decision as to what alternatives can be provided may not be up to the servicer.</span></span></span></div> </li> </ul> <div style="color: red"><span style="color: #000000"><span style="color: #000000"><strong><em><span style="text-decoration: underline"><span style="color: #000000"><span style="color: #000000"><strong><em><span style="color: #ff0000"><strong><em><span style="color: #ff0000; text-decoration: underline"><strong><em>What is a Short Sale?</em></strong> </div> <div style="color: red">&nbsp;</div> <ul> <li> <div style="color: red"></em></strong></span></span></em></strong></span></span></span></em></strong></span><span style="color: #000000"><span style="color: #000000">A short sale is a program that allows homeowners to sell the home for less than the amount owed on the mortgage.</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Homes are sold at fair market value and the proceeds are used as payment in full on the mortgage.</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Borrowers must qualify to be considered for a short sale.</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Qualification does not guarantee short sale approval.</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Note:&nbsp; A promissory note for debt not covered by the sale may be required by some investors or, junior lien holders to agree to the short sale.</span></span></div> </li> </ul> <div style="color: red">&nbsp;</span><strong><em>Homeowner options include</em></strong>:</div> <ul> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Refinancing</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Repayment plans</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Loan modifications</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Short sales</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">and other options</span></span></div> </li> </ul> <div style="color: red"><span style="color: #000000"></span>&nbsp;</div> <div style="color: red"><span style="color: #000000"></span>&nbsp;</div> <div style="color: red"><strong><em>Why are there short sales?</em></strong></div> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Homeowners have an involuntary hardship and can no longer afford their monthly mortgage payments.</span></span></div> <div style="color: red"><span style="color: #000000"><span style="color: #000000">The property is worth less than what is owed.</span></span></div> <div style="color: red"><span style="color: #000000"></span>&nbsp;</div> <div style="color: red"><strong><em>Short sale homeowner benefits</em></strong></div> <ul> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Avoid stress of foreclosure sale; honorable exit to a difficult situation.</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Homeowners can typically live in the home until the new owner closes, giving time to make other living arrangements.</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Foreclosure is postponed and collection calls will stop once a written, signed offer is received and approved.</span></span></div> </li> </ul> <div style="color: red"><span style="color: #000000"></span>&nbsp;</div> <div style="color: red; text-decoration: underline"><strong><em>Short Sale impacts</em></strong></div> <div style="color: red">&nbsp;</div> <div style="color: red"><strong><em>Homeowner impacts</em></div> </strong><span style="color: #000000"><span style="color: #000000"> <ul> <li> <div style="color: red"><span style="color: #000000">Credit report will state "paid off in full for less than full balance."</span></span></span></span></span><span style="color: #000000"><span style="color: #000000">Reestablishment of credit may be required to qualify for a new mortgage following a short sale.</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">There may be tax implications.&nbsp; The homeowner should speak with their tax advisers about the tax implications of a short sale.</span></span></div> </li> </ul> <div style="color: red"><span style="color: #000000"></span>&nbsp;</div> <div style="color: red"><strong><em>What else homeowners should be aware of</em></strong></div> <ul> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Buyers cannot be anyone the homeowner has a close personal or business relationship with,including family and friends</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Homeowners are responsible for making their mortgage payments while the home is on the market.</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Mortgages in bankruptcy require special consideration.</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Homeowners should speak with their mortgage company to discuss their options.</span></div> </li> </ul> <div style="color: red">&nbsp;</div> <div style="color: red"><strong><em>What does the Sellers'&nbsp; REALTOR need to know</em></strong></div> <div style="color: red"><strong>Who would not be eligible buyers</strong></div> <ul> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Anyone with a close personal or business relationship to the homeowners; family, friends, neighbors.</span></span></div> </li> </ul> <div style="color: red"><strong>How to possibly reduce the time line</strong></div> <ul> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Notify the lender that is servicing the property as soon as the listing contract is signed.&nbsp; This allows the servicing company to complete the property valuation and borrower financial evaluation prior to receiving the offer.&nbsp; This significantly reduces the short sale decision time on a submitted offer.</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Allow the appraiser timely access to the property</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Due to the complex nature of the sale, the process does not follow those of a typical real estate transaction</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"></span>&nbsp;</div> </li> </ul> <div style="color: red"><strong><em><span style="text-decoration: underline">What REALTORS need to know</span></em></strong></div> <ul> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000"><span style="color: #000000"><span style="color: #000000">A short sale approval is good for only 30 days</span></span></span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000"><span style="color: #000000"><span style="color: #000000">If the closing does not occur within 30 days:</span></span></span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000"><span style="color: #000000"><span style="color: #000000">The entire short sale package may need to be resubmitted with updated information, and/or the approval process may need to start over.</span></span></span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000"><span style="color: #000000">Buyer concessions must be approved </span>by the investor.</span></span></div> </li> </ul> <div style="color: red"><strong><em>Common Short Sale obstacles</em> <div>&nbsp;</div> <div>Unrealistic expectations</div> </strong></div> <ul> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Timeliness do not follow typical offer-to-close time line</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Price 'low ball' offers due to market conditions</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Excessive seller concessions and costs</span></span></div> </li> </ul> <div style="color: red"><span style="color: #000000"></span>&nbsp;</div> <div style="color: red"><span style="color: #000000"><span style="color: #000000"><span style="color: #ff0000"><span style="color: #ff0000">Offer does not meet investor guidelines</span></span></span></span></div> <div style="color: red"><span style="color: #000000"><span style="color: #000000"><span style="color: #ff0000"></span></span></span>&nbsp;</div> <div style="color: red"><span style="color: #000000"><span style="color: #000000"><span style="color: #ff0000"><span style="color: #ff0000">Mortgage insurer requiring promissory note</span></span></span></span></div> <div style="color: red"><span style="color: #000000"><span style="color: #000000"><span style="color: #ff0000"></span></span></span>&nbsp;</div> <div style="color: red"><span style="color: #000000"><span style="color: #000000"><span style="color: #ff0000"><span style="color: #ff0000">Processing delays</span></span></span></span></div> <ul> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Valuation delays </span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">REALTOR and customer required documents missing or not signed and dated properly</span></span></div> </li> </ul> <div style="color: red"><span style="color: #000000"><span style="color: #000000"><span style="color: #ff0000"><span style="color: #ff0000">Team not fully engaged</span></span></span></span></div> <ul> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Buyer's REALTOR working short sale without homeowner engaged.</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Buyer REALTOR often considered an unauthorized third </span></span></div> </li> </ul> <div style="color: red"><span style="color: #000000"><span style="color: #000000"><span style="color: #ff0000"><span style="color: #ff0000">What can derail lender approval?</span></span></span></span></div> <ul> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Homeowners/sellers</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Refuse to sign investor required promissory note</span></span></div> </li> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Don't provide access to the property</span></span></div> </li> </ul> <div style="color: red">Junior lien holders</div> <ul> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Will not approve transaction</span></span></div> </li> </ul> <div style="color: red">Buyers</div> <ul> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Unable to secure financing</span></span></div> </li> </ul> <div style="color: red">Property</div> <ul> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Unclear title</span></span></div> </li> </ul> <div style="color: red">Listing price</div> <ul> <li> <div style="color: red"><span style="color: #000000"><span style="color: #000000">Too high or too low - either not generating enough offers or creating offers which are too low.</span></span></span></div> </li> </ul><P><a href="http://donnalefeverrealestate.com/blog/2009/08/30/short-sales-what-everyone-needs-to-know" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2009/08/30/short-sales-what-everyone-needs-to-know#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2009/08/30/short-sales-what-everyone-needs-to-knowFri, 11 Sep 2009 13:25:00 GMThttp://donnalefeverrealestate.com/blog/2009/08/31/google-analytics-must-have<div><span style="font-size: 12pt">Looking for analytics to track data on your website?<br /> </span><br /> <img border="0" hspace="10" alt="" vspace="10" align="right" src="http://utah.choosewindermere.com/images/google-analytics-revamped.jpg" width="300" height="326" /></div> <div>&nbsp;</div> <div>All that a&nbsp;Windermere Platinum website user needs to do is create an account in Google,&nbsp;sign up for Google Analytics and paste a snippet of code into an appropriate field in your admin center. This is very easy to do…just go to <a href="http://www.google.com/analytics/">http://www.google.com/analytics/</a> and if you already have a Google account for some reason, just use it. If not just follow the steps for creating an account and you are on your way.</div> <div><br /> Once you have created an account, you can then sign up for Google Analytics. Just a few more steps…and you will be done!</div> <div><br /> Once signed up a small snippet of code wil be displayed. You will need to copy the account number within this script of code and insert it into the appropriate place in your admin center…which will activate it.<br /> </div> <div>[NOTE:&nbsp;Your Windermere Platinum Website has provided a manual to walk you through this whole process. Go into your admin center&gt;website&gt;website statistics&gt;Google Analytics. Also take note of the field where you will paste in your Google Analytics account number. Then click the "Update Analytics" button and you are good to go.]</div> <div><br /> After this process is completed, you will be able to log into your Google Analytics account from any Web browser and see up-to-the-minute real time statistics on everything you could ever want to know about your site visitors and their behavior. All kinds of charts and graphs and information.</div> <div><br /> This powerful Web-based statistics package was once a stand alone product and cost $100’s/month before Google bought it awhile back, and now makes it available to anyone for free.</div> <div><br /> Website statistics are highly useful if you have the ability to a) understand what they are saying about your site’s ability or lack of ability to convert visitors to clients, and b) they can be used to help create a strategic plan of action.</div> <p>&nbsp;</p><P><a href="http://donnalefeverrealestate.com/blog/2009/08/31/google-analytics-must-have" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2009/08/31/google-analytics-must-have#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2009/08/31/google-analytics-must-haveMon, 31 Aug 2009 12:43:00 GMThttp://donnalefeverrealestate.com/blog/2009/06/17/a-special-message-from-robyn-yates<div style="font-size: 14pt" align="justify"><span style="font-family: Arial">Committed, Creative, Visionary</span></div> <div align="justify">&nbsp;</div> <div align="justify"><span style="font-family: Arial">These are words to describe your Windermere Leadership.&nbsp;It is a time of challenge in our industry and in our country.&nbsp;Today is the day to stick together and to work as a team to create solutions.&nbsp;In our Windermere Family we are committed to each of you and your business.&nbsp;You can count on Windermere to lead you and the community.&nbsp;</span>&nbsp;&nbsp;</div> <p align="justify"><span style="font-size: 14pt; font-family: Arial">Remarkable, Inspired and Principled<span style="font-family: Arial"><em></em></span></span></p> <div align="center"><font face="Arial"><em> <div><br /> </div> <div>Shirley Brass:&nbsp;</div> <p class="MsoNormal"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Windermere is dedicated to honest, ethical and professional service. Windermere offers the best tools to the best people and gets out of their way, and Shirley is proud to be a member of the Windermere family. With State of the Art technology, as seen on Windermere.com, as well as their extensive marketing technology, Windermere is dedicated in meeting your Real Estate expectations. This technology combined with educated and skilled agents like Shirley Brass, you can rest assure that you are in good hands throughout your Real Estate experience<o:p></o:p></span></p> <p class="MsoNormal"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"><o:p>&nbsp;</o:p></span></p> <p class="MsoNormal"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Steven Carns:<o:p></o:p></span></p> <p class="MsoNormal"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">"I have always recommended customers choose their real estate agent and brokerage carefully," says Steve. "It is interesting upon my return to Southern Nevada that I found myself in the same position of making a very difficult choice of brokerage firm with which to associate. Then, I discovered Windermere and my difficult decision became an obvious choice." <o:p></o:p></span></p> <div>A previous Southern Nevada resident, Steve comes to Windermere as an experienced real estate professional from the highly competitive luxury market in Sarasota, Florida. There he enjoyed significant success with the local Prudential and Sotheby's affiliates. Upon returning to the Las Vegas valley in 2007, Steve began an exhaustive search for a firm that could not only meet his high standards of quality and integrity, but one with the vision and leadership to drive toward the future of real estate, not just react to the realities of the past. "There are a lot of great real estate companies in this market to choose from, but they are not all the same. When I walked through Windermere's front door, I instantly knew it was different. I knew Windermere was the firm where I could best serve the needs of my clients. I had taken a hard look at many of the area's finest companies. I found no other company could match Windermere's level of technology, marketing, agents and client satisfaction. We are definitely raising the bar for real estate brokerages in Southern Nevada."</div> <div><br /> </div> <p class="MsoNormal"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Ed Haendel:<o:p></o:p></span></p> <p class="MsoNormal"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">"I am proud to be and agent for Windermere Prestige Properties. Windermere focus the highest ethical standards and integrity are unparalled. As a Windermere agent, your complete satisfaction is my number one goal."<o:p></o:p></span></p> <p class="MsoNormal"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"><o:p>&nbsp;</o:p></span></p> <p class="MsoNormal"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Helene Moore:&nbsp;</span></p> <div>&nbsp;With all of Helene's personal and professional skills and the technology and marketing tools that Windermere adds to her arsenal, the relationship is one that is sound, professional and long-lasting. Helene has found her "real estate" home with Windermere and is proud to be a member of the Windermere family.&nbsp;</div> <div><br /> </div> </em></font></div> <div align="justify"><span style="font-family: Arial"><br /> Windermere Real Estate is committed to each of you and to our Truth's and Vision.&nbsp;We are collectively creating the Real Estate company that the community looks to as the most professional with the most productive and respected Real Estate professionals.&nbsp;&nbsp; It is our expectation, vision and goal to always be the leader and provide the most up to date technology and marketing solutions.&nbsp;All of this while serving the community.&nbsp;</span> </div> <div align="justify">&nbsp;</div> <div align="justify"><span style="font-family: Arial">Windermere Real Estate has grown from a small office in Green Valley of fourteen agents to over two hundred agents in five years.&nbsp;More importantly our growth has been focused not on numbers of agents, but on the most respected and professional agents in the community.&nbsp;In other words, this is a company based on Quality people not just numbers.&nbsp;You won't see Windermere trying to get the most number of agents.&nbsp;Rather, our goal is to attract the best agents through the law of attraction and ensure through our collective commitment that every Windermere agent is highly successful.&nbsp;&nbsp; </span></div> <div align="justify">&nbsp;</div> <div align="justify"><span style="font-family: Arial"><em>We are inspired to keep striving to provide you with the absolute best resources.&nbsp;We are committed to you and ask for your commitment to us.&nbsp;By being engaged with us you are ensuring your success.</em>&nbsp;&nbsp; </span></div> <div align="justify">&nbsp;</div> <div align="center"><span style="font-family: Arial"><span style="font-size: 12pt"><span style="font-size: 14pt; font-family: Arial"><span style="color: #800000"><span style="color: #800000">What You Should&nbsp;Know If You're Considering&nbsp;<br /> Making a Change to a New Brokerage</span></span></span></span></span></div> <div align="justify">&nbsp;</div> <div align="center"><a href="http://nevada.choosewindermere.com/docs/Questions%20to%20Consider%20Before%20Changing%20to%20a%20New%20Broker.pdf" target="_blank">Click Here</a></div> <div>&nbsp;</div> <div>&nbsp;</div> <div align="center"><span style="font-family: Arial"><strong><span style="font-family: Comic Sans MS"><span style="font-family: "><strong style="font-size: 12pt; font-family: Arial">To lead the field in our industry today takes specific&nbsp;tools<br /> in your toolbox that are unique and exclusive!</strong></span></span> </strong></span></div> <strong> <div align="center">&nbsp;</div> </strong> <div align="justify"><span style="font-family: Arial"><strong><em>Platinum Web site</em></strong></span></div> <strong> </strong> <div align="justify"><span style="font-family: Arial"><img height="98" alt="" hspace="5" src="http://robynyates.com/images/home_page_site_background.jpg" width="100" align="left" vspace="5" border="0" />The exclusive Windermere tool, your platinum website puts you in control - you control your own content, links, searches, offerings and photos that your visitors will experience. Innovative products will make you look good.&nbsp;</span> </div> <div align="justify">&nbsp;</div> <div align="justify"><span style="font-family: Arial">Unsurpassed Built-in lead generation - Multiple reasons for visitors to contact you, with calls to action. You are <em>always</em> the primary contact! </span> <div>&nbsp;</div> </div> <p align="center"><span style="font-family: Arial"><a href="http://nevada.choosewindermere.com/docs/flyer-platinum-windermere.pdf" target="_blank"><span style="font-family: Arial">Click Here for Platinum Website Brochure</span></a></span></p> <div align="justify"><span style="font-family: Arial"><strong><em>Mobile Agent</em> </strong></span></div> <strong> </strong> <div align="justify"><span style="font-family: Arial"><img height="85" alt="" hspace="5" src="http://robynyates.com/images/mobileagent.jpg" width="100" align="left" vspace="5" border="0" />The exclusive Windermere tool, the evolution in real estate information access is here with&nbsp;Mobile Agent, the industry's first consumer mobile search tool for real estate.&nbsp;Mobile Agent&nbsp;takes home searching to the next level. It allows the consumer to go mobile and puts the agent in their hand.</span> <div>&nbsp;</div> <div>&nbsp;</div> </div> <p align="center"><span style="font-family: Arial"><a href="http://nevada.choosewindermere.com/index.cfm/page/41024/parent/41000/Mobile_Agent.html" target="_blank"><span style="font-family: Arial">Click Here for Mobile Agent&nbsp;Brochure</span></a></span>&nbsp;</p> <div align="justify"><span style="font-family: Arial"><strong><em>Internet Concierge Program</em></strong></span></div> <strong> </strong> <div align="justify"><span style="font-family: Arial"><img height="62" alt="" hspace="5" src="http://robynyates.com/images/syndi.jpg" width="100" align="left" vspace="5" border="0" />Windermere's complimentary Internet concierge program provides you with the tools and resources to generate more leads, clients, prospects and exposure by using the largest syndication network available!&nbsp;</span></div> <div align="justify">&nbsp;</div> <div align="justify"><span style="font-family: Arial">With the highest number of syndication partners available and more being included all the time, Windermere's Internet Concierge Program provides you with a competitive edge above other real estate professionals.&nbsp; Syndication gives you an advantage that is clear to sellers, encouraging them to list with you.</span> <div>&nbsp;</div> </div> <p align="center"><span style="font-family: Arial"><a href="http://nevada.choosewindermere.com/docs/Windermere%20Syndication.pdf" target="_blank"><span style="font-family: Arial">Click Here for Internet Concierge Brochure</span></a></span></p> <div align="justify"><span style="font-family: Arial"><strong><em>Relocation Department&nbsp;</em></strong></span></div> <strong> </strong> <div align="justify"><span style="font-family: Arial"><img height="93" alt="" hspace="5" src="http://robynyates.com/images/LeadingRE.jpg" width="100" align="left" vspace="5" border="0" />Leading Real Estate Companies of the World&#174;&nbsp;is a global network of nearly 700 premier real estate firms with 5,500 offices and 170,000 sales associates in 38 countries around the world.&nbsp;<br /> <br /> Collectively, this group has sold over 1.2 million homes worth $370 billion in 2007, more than any national real estate brand. LeadingRE dominates the United States list of top 500 real estate firms, with more of the Number One market leaders in the top 90 markets than any network.&nbsp;</span> <div>&nbsp;</div> <div>&nbsp;</div> </div> <div align="justify"><span style="font-family: Arial"><strong><em>On Site Builder Relationships</em></strong></span></div> <strong> </strong> <div align="justify"><span style="font-family: Arial"><img height="34" alt="" hspace="5" src="http://robynyates.com/images/toll.jpg" width="150" align="left" vspace="5" border="0" />Windermere has recently earned the exclusive listing rights for Toll Brothers, a semi-custom builder in Las Vegas. Toll Brothers selected Windermere for the caliber of its agents, their professional reputation and Windermere's unsurpassed technology and marketing tools.&nbsp;</span> <div>&nbsp;</div> </div> <div align="justify">&nbsp;</div> <div style="font-size: 14pt" align="center">Windermere Quarterly Event June 23rd at </div> <div style="font-size: 14pt" align="center">Red Rock Country Club: "Unraveling the Mysterys"</div> <div style="font-size: 14pt" align="center">&nbsp;</div> <div style="font-size: 14pt" align="center"><span style="font-size: 12pt">Key Note Speaker </span></div> <div style="font-size: 14pt" align="center">&nbsp;</div> <div style="font-size: 14pt" align="center"><img height="130" alt="" src="http://robynyates.com/images/fanning.jpg" width="99" align="center" border="0" /></div> <div style="font-size: 14pt" align="center">&nbsp;</div> <div style="font-size: 10pt" align="center"><span style="font-size: 12pt">Michael Fanning<br /> Windermere Services Seattle</span></div> <div align="justify">&nbsp;</div> <div align="center"><a href="http://nevada.choosewindermere.com/docs/June%20Quarterly%20Event%20062309.pdf" target="_blank">Click Here for the Unraveling the Mysterys Flyer&nbsp;</a></div> <div align="center">&nbsp;</div> <span style="font-family: Arial"> <div align="justify"><br /> As we continue to lead in Technology &amp; Marketing tools many company's look to us for their solutions. This is why we share just a few tools with you today. For a complete overview please contact any of your Windermere Leadership Team. <em>(Click on any of the Leadership names below for their profile)</em></div> <div align="center"><span style="font-family: Arial"><br /> <a href="http://www.windermere.com/index.cfm?fuseaction=agentOffice.AgentDetail&amp;agentMetauser_ID=55380" target="_blank"><span style="font-size: 12pt">Stephen Redman</span></a><span style="font-size: 12pt"> &amp; </span><a href="http://www.windermere.com/index.cfm?fuseaction=agentOffice.AgentDetail&amp;agentMetauser_ID=81407" target="_blank"><span style="font-size: 12pt">Di Redman</span></a></span></div> <div align="center">&nbsp;</div> <div align="center"><span style="font-family: Arial"><a href="http://nevada.choosewindermere.com/index.cfm/page/41012/parent/40999/Dennis_Yates_-_President,_Windermere_Services_Nevada.html" target="_blank"><span style="font-family: Arial"><span style="font-size: 12pt">Dennis Yates</span></span></a><span style="font-size: 12pt">&nbsp;&amp; </span><a href="http://nevada.choosewindermere.com/index.cfm/page/41013/parent/40999/Robyn_Yates_-_Vice_President,_Windermere_Services_Nevada.html" target="_blank"><span style="font-size: 12pt">Robyn Yates</span></a></span></div> <div align="center">&nbsp;</div> <div align="center"><span style="font-family: Arial"><a href="http://nevada.choosewindermere.com/index.cfm/page/41015/parent/40999/Jeff_Brick_-_Director_of_Attraction.html" target="_blank"><span style="font-family: Arial"><span style="font-size: 12pt">Jeff Brick</span></span></a></span><span style="font-family: Arial"><br /> <br /> <a href="http://nevada.choosewindermere.com/index.cfm/page/41016/parent/40999/Veronica_Richards_-_Director_of_Career_Development.html" target="_blank"><span style="font-size: 12pt">Veronica Richards</span></a></span> <div>&nbsp;</div> </div> <div align="center"><span style="font-family: Arial"><a href="http://nevada.choosewindermere.com/index.cfm/page/47637/parent/40999/Deb_Shields_-_Director_of_Marketing.html" target="_blank"><span style="font-family: Arial"><span style="font-size: 12pt">Deb Shields</span></span></a></span> <div>&nbsp;</div> </div> <div align="justify"><span style="font-family: Arial">Windermere Real Estate is the leading residential real estate network in the West with more than 325 offices and 8,500 associates serving neighborhoods in Arizona, California, Hawaii, Idaho, Montana, Nevada, Oregon, Utah, Wyoming, Washington and British Columbia. Windermere has been consistently ranked as the largest regional real estate brand in the western United States by REAL Trends, a primary source of industry data. Windermere has a proud heritage of serving communities by way of the Windermere Foundation, which provides funding to social service agencies that offer housing and services to low-income and homeless children and families. Windermere's Web site, <a href="http://www.windermere.com/">Windermere.com</a>, receives over 2 million unique visits per month, and is regarded as one of the leading real estate sites in the country in terms of customer usability. In 2006, Windermere was selected as an Official Honoree of the 10th Annual Webby Awards based on excellence in Web site content, design, functionality and overall experience. </span></div> <p align="justify">&nbsp;</p> </span><P><a href="http://donnalefeverrealestate.com/blog/2009/06/17/a-special-message-from-robyn-yates" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2009/06/17/a-special-message-from-robyn-yates#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2009/06/17/a-special-message-from-robyn-yatesWed, 17 Jun 2009 13:19:00 GMThttp://donnalefeverrealestate.com/blog/2009/06/11/windermere-new-email-system-info<div align="justify"><strong><span style="font-size: 14pt; font-family: 'Arial','sans-serif'">When will my e-mail be migrated over?</span></strong> <span style="font-family: 'Arial','sans-serif'"><img height="122" alt="" hspace="5" src="http://utah.choosewindermere.com/images/email.jpg" width="125" align="right" vspace="5" border="0" /></span> <div><span style="font-family: 'Arial','sans-serif'">Between June 1 and July 31, 2009, we will transition all associates with a Windermere.com email address to a new email system.</span></div> </div> <p style="margin: 0in 0in 0pt" align="justify">&nbsp;</p> <p style="margin: 0in 0in 0pt" align="justify"><span style="font-family: 'Arial','sans-serif'">Windermere Email Accounts will be migrated on an individual basis. <br /> We will not be migrating whole offices at a time.</span></p> <p style="margin: 0in 0in 0pt" align="justify">&nbsp;</p> <p style="margin: 0in 0in 0pt" align="justify"><span style="font-family: 'Arial','sans-serif'">We will no longer be publishing a schedule of associates with their migration date. &nbsp;All associates will receive at least 2 notifications prior to migration with notice about their upcoming migration. </span></p> <div style="margin: 0in 0in 0pt" align="justify">&nbsp;<br /> </div> <div style="margin: 0in 0in 0pt" align="justify">&nbsp;</div> <div style="margin: 0in 0in 0pt" align="justify"><strong><span style="font-size: 14pt; font-family: 'Arial','sans-serif'">Why a new e-mail system?</span></strong> <span style="font-size: 14pt; font-family: 'Arial','sans-serif'"><br /> </span><span style="font-family: 'Arial','sans-serif'"><img height="97" alt="" hspace="5" src="http://utah.choosewindermere.com/images/why-blog.jpg" width="125" align="right" vspace="5" border="0" />Email is consistently cited as the most important tool you use as part of your business. In order to ensure that you have the most current and scalable email, Windermere will be migrating our current webmail email system to an upgraded system offering you the advanced features you need to succeed in today's market.<br /> <br /> <br /> <br /> </span><strong><span style="font-size: 14pt; font-family: 'Arial','sans-serif'">What improvements come with the new system?<br /> </span></strong><span style="font-family: 'Arial','sans-serif'">The new system is vastly superior to the current Windermere email system. Some of the upgraded features include:</span></div> <span style="font-family: 'Arial','sans-serif'"> <p style="margin: 0in 0in 0pt" align="justify"><span style="font-family: Symbol"><img height="171" alt="" hspace="5" src="http://utah.choosewindermere.com/images/pic_women_professional.jpg" width="125" align="right" vspace="5" border="0" /></span><br /> <em>&nbsp;&nbsp;&nbsp; 1. Access email anytime, anywhere - from the office, at home or on the road.</em></span></p> <p style="margin: 0in 0in 0pt" align="justify"><span style="font-family: 'Arial','sans-serif'"><em>&nbsp;&nbsp; 2. Email, contacts, calendars and tasks can be automatically synchronized between the web and Outlook. Changes made at one location, are available in all.</em></span></p> <p style="margin: 0in 0in 0pt" align="justify"><span style="font-family: 'Arial','sans-serif'"><em>&nbsp;&nbsp; 3. Increased storage capacity equal to 10GB per account (compared to 50MB with our current vendor).</em></span></p> <p style="margin: 0in 0in 0pt" align="justify"><span style="font-family: 'Arial','sans-serif'"><em>&nbsp;&nbsp; 4. Share your calendar with other associates using the new system.</em></span></p> <p style="margin-top: 0in; margin-bottom: 0pt; margin-right: 0in" align="justify"><span style="font-family: 'Arial','sans-serif'"><em>&nbsp;&nbsp; 5. Mobile synching with BlackBerry, Windows Mobile and iPhone* at no extra charge.</em></span></p> <span style="font-family: 'Arial','sans-serif'"> <p style="margin: 0in 0in 0pt" align="justify"><br /> ...(Continued)...</p><P><a href="http://donnalefeverrealestate.com/blog/2009/06/11/windermere-new-email-system-info" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2009/06/11/windermere-new-email-system-info#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2009/06/11/windermere-new-email-system-infoThu, 11 Jun 2009 20:01:00 GMThttp://donnalefeverrealestate.com/blog/2009/06/04/short-sale-lender-submission-processing-guide-for-windermere-agents<div style="margin: 0in 0in 0pt" align="justify"> <div><strong>SHORT SALE SUBMISSION REQUIREMENTS BY LENDER</strong></div> <div>&nbsp;</div> </div> <p style="margin: 0in 0in 0pt" align="justify"><span style="font-family: Arial"><img height="286" alt="" hspace="10" src="http://utah.choosewindermere.com/images/shortsalessuccess.jpg" width="290" align="right" vspace="10" border="0" />Many Mortgage Companies and Servicing Institutions have their own unique requirements when it comes to Short Sale requests from borrowers. Select from the list below to see the general requirements of the lender/ servicer. <br /> We have included downloadable forms and documents for those lender or servicers that require special forms and documents to be completed by the borrower. Certain of the forms and documents we have available have been scanned and the quality of the image may not be of good quality.</span></p> <p style="margin: 0in 0in 0pt" align="justify">&nbsp;</p> <div style="margin: 0in 0in 0pt" align="justify"><span style="font-family: Arial"><strong>ABOUT US THE COMPANY</strong><br /> <a href="http://www.mresolution.com">www.mresolution.com</a> <br /> <br /> Mortgage Resolution Services, Inc. provides a full range of services to the real estate community, all designed to support the efforts of brokers and agents working with homeowners overburdened with mortgage debt. As market conditions become more challenging and mortgage delinquencies increase, Mortgage Resolution Services, Inc. can help. By providing education, coaching and a comprehensive short sale processing service, Mortgage Resolution Services, Inc. is ready to help real estate professionals who are seeking to adjust their business plan to account for current market conditions.</span></div> <p style="margin: 0in 0in 0pt" align="justify">&nbsp;</p> <div style="margin: 0in 0in 0pt" align="justify"><span style="font-family: Arial"><strong>SHORT SALE PROCESSING</strong>&nbsp;<br /> <br /> As pre-foreclosure and foreclosure numbers continue to run at very high levels, we can show you how to find homeowners who need your help. <br /> For those of you who would like to keep in touch with your "regular" real estate business and who want to avoid getting gobbled up by the demands of handling the processing of short sale files we have a solution. Mortgage Resolution Services, Inc. can handle the short sale processing and negotiating tasks on your short sale files. <br /> You keep the client, you take care of the real estate side of the transaction and we will do the heavy lifting with the mortgage lenders and their loss mitigation departments. <br /> Even before you ever take this listing, we can let you know if you have a short sale transaction that will likely be approved. <br /> As an agent all you have to sell is your time and your expertise. Mortgage Resolution Services, Inc. can help by confirming you have an approvable short sale so you don't waste time on a transaction that will likely be declined and we can remove the day-to-day burden of chasing down loss mitigators.</span></div> <div style="margin: 0in 0in 0pt" align="justify">&nbsp;</div> <div style="margin: 0in 0in 0pt" align="center">...(Continued)...</div><P><a href="http://donnalefeverrealestate.com/blog/2009/06/04/short-sale-lender-submission-processing-guide-for-windermere-agents" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2009/06/04/short-sale-lender-submission-processing-guide-for-windermere-agents#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2009/06/04/short-sale-lender-submission-processing-guide-for-windermere-agentsThu, 04 Jun 2009 16:49:00 GMThttp://donnalefeverrealestate.com/blog/2009/05/27/las-vegas-obama-signs-measures-to-help-with-troubled-mortgages<div class="MsoNormal"><font face="Arial" size="2"><span style="font-size: 10pt; font-family: Arial"> <p><strong></strong>&nbsp;</p> <p><span style="font-family: Arial">President Obama today enacted two measures that provide incentives for lenders and loan servicers to make troubled mortgages more affordable. The legislation also streamlines Hope for Homeowners, a government program to refinance &#239;&#191;&#189;underwater&#239;&#191;&#189; loans that so far has helped few distressed borrowers.&nbsp; Obama said the bills also require banks to honor existing leases on foreclosed properties, and provide $2.2 billion to help homeless families. In addition, the measures give federal investigators more tools to crack down on mortgage and commodity fraud.</span></p> <p><span style="font-family: Arial">&#239;&#191;&#189;I believe we&#239;&#191;&#189;re moving in the right direction, but I want to remind everybody that it took many years and many failures to get us here, and it&#239;&#191;&#189;s going to take some time to get us out,&#239;&#191;&#189; Obama said. &#239;&#191;&#189;The stock market will rise and fall. The job market has taken a beating and won&#239;&#191;&#189;t be back immediately. The housing market still has a long way to go. But I&#239;&#191;&#189;m confident we will get there.&#239;&#191;&#189;&nbsp; As the details of the measure are released I will keep you informed to what this means for Nevadans</span></p> <p>&nbsp;</p> </span></font></div><P><a href="http://donnalefeverrealestate.com/blog/2009/05/27/las-vegas-obama-signs-measures-to-help-with-troubled-mortgages" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2009/05/27/las-vegas-obama-signs-measures-to-help-with-troubled-mortgages#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2009/05/27/las-vegas-obama-signs-measures-to-help-with-troubled-mortgagesWed, 27 May 2009 22:11:00 GMThttp://donnalefeverrealestate.com/blog/2009/05/14/listen-up-las-vegas-use-your-8000-tax-credit-as-your-down-payment<p align="center"><span style="font-size: 14pt; font-family: Arial">National Association of Realtors Applauds Use of First Time Homebuyer Tax Credit as Real Estate Down payment</span></p> <p align="center"><strong><em><span style="font-family: Arial">Use $8,000 Tax Credit as Real Estate Down Payment</span><span style="font-family: Arial">. National Association of Realtors is Optimistic </span></em></strong></p> <p align="justify"><span style="font-family: Arial">By Sylvia Cochran </span></p> <p align="justify"><span style="font-family: Arial"><img height="342" alt="" hspace="10" src="http://utah.choosewindermere.com/images/tax_relief.jpg" width="275" align="right" vspace="10" border="0" />Today the National Association of Realtors comments on the change in the rules that allows the $8,000 tax credit to be used as a down payment for a real estate purchase. </span></p> <p align="justify"><span style="font-family: Arial">$8,000 Tax Credit May Be Used For Real Estate Down Payment </span></p> <p align="justify"><span style="font-family: Arial">The good news the National Association of Realtors was clamoring for, came in the form of an announcement from Shaun Donovan of the U.S. Department of Housing and Urban Development (HUD). The <a title="http://www.realtor.org/press_room/news_releases/2009/05/re_summit?lid=ronav0019" href="http://www.realtor.org/press_room/news_releases/2009/05/re_summit?lid=ronav0019">association's website</a> reports that the FHA has given the green light to lenders for a change in the real estate down payment rules. </span></p> <p align="justify"><span style="font-family: Arial">The National Association of Realtors states that the $8,000 tax credit that home buyers would normally be able to apply for during their tax preparation may now actually be applied toward the down payment of the real estate purchase. A specially designed loan vehicle "pays forward" the tax credit and thus the real estate buyer borrows the funds for the down payment. </span></p> <p align="justify"><span style="font-family: Arial">In the past, the use of borrowed funds for a real estate transaction was considered an unacceptable practice. Today, it might be the little extra nudge otherwise qualified real estate buyers require to make their dream of homeownership a reality. </span></p> <p align="justify"><span style="font-family: Arial">First Time Homebuyer Tax Credit as Real Estate Down Payment is Not a New Idea </span></p> <p align="justify"><span style="font-family: Arial">The US News <a title="http://www.usnews.com/blogs/the-home-front/2009/03/30/the-first-time-home-buyer-tax-credit-and-your-down-payment.html" href="http://www.usnews.com/blogs/the-home-front/2009/03/30/the-first-time-home-buyer-tax-credit-and-your-down-payment.html">Home Front Blog</a> reported that already in January of this year, the state of Missouri was allowing the first time homebuyer tax credit to be turned into a down payment on a piece of real estate. The Missouri Housing Development Commission (MHDC) discovered a way of writing a second loan of up to 6% of the home purchase price, which would then later on be paid off with the first time homebuyer tax credit that is valued at 10% of the purchase price. </span></p> <p align="justify"><span style="font-family: Arial">Consumers who repay the down payment loan will not be charged interest but instead only a processing fee. Those who fail to repay when they receive the first time homebuyer tax credit see their down payment loan funneled into a 10 year loan that is repaid - with interest - over a decade. </span></p> <p align="justify"><span style="font-family: Arial">Is it time for the National Association of Realtors to rejoice nationwide? </span></p> <p><span style="font-family: Arial">Sources </span></p> <p><span style="font-family: Arial"><a title="http://www.bizjournals.com/atlanta/stories/2009/05/11/daily37.html" href="http://www.bizjournals.com/atlanta/stories/2009/05/11/daily37.html">http://www.bizjournals.com/atlanta/stories/2009/05/11/daily37.html</a>; <a title="http://www.realtor.org/press_room/news_releases/2009/05/re_summit?lid=ronav0019" href="http://www.realtor.org/press_room/news_releases/2009/05/re_summit?lid=ronav0019">http://www.realtor.org/press_room/news_releases/2009/05/re_summit?lid=ronav0019</a>; <a title="http://www.usnews.com/blogs/the-home-front/2009/03/30/the-first-time-home-buyer-tax-credit-and-your-down-payment.html" href="http://www.usnews.com/blogs/the-home-front/2009/03/30/the-first-time-home-buyer-tax-credit-and-your-down-payment.html">http://www.usnews.com/blogs/the-home-front/2009/03/30/the-first-time-home-buyer-tax-credit-and-your-down-payment.html</a> </span></p> <p><span style="font-family: Arial">More resources </span></p> <p><span style="font-family: Arial"><a href="http://www.bizjournals.com/atlanta/stories/2009/05/11/daily37.html">http://www.bizjournals.com/atlanta/stories/2009/05/11/daily37.html</a> &nbsp;</span></p><P><a href="http://donnalefeverrealestate.com/blog/2009/05/14/listen-up-las-vegas-use-your-8000-tax-credit-as-your-down-payment" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2009/05/14/listen-up-las-vegas-use-your-8000-tax-credit-as-your-down-payment#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2009/05/14/listen-up-las-vegas-use-your-8000-tax-credit-as-your-down-paymentThu, 14 May 2009 10:53:00 GMThttp://donnalefeverrealestate.com/blog/2009/05/08/las-vegas-listing-inventory-shrinks<p style="margin: 0in 0in 0pt" align="justify"><span style="font-family: Arial">Las Vegas Inventory shrunk to nearly 18,000 resale units through the end of April. Inventory levels were down 22.2% compared to the same week of the prior year. </span></p> <p style="margin: 0in 0in 0pt" align="justify">&nbsp;</p> <p style="margin: 0in 0in 0pt" align="justify"><span style="font-family: Arial">In April, closings were 98% of the listing price. Homes that were listed and sold in less than 30 days sold for 101% of the listed price. Forty-six percent of the properties listed are selling for 101% of list price and closing in 30 days or less. This is an indicator that the majority of homes are priced at fair market value. </span></p> <p style="margin: 0in 0in 0pt" align="justify">&nbsp;</p> <div style="margin: 0in 0in 0pt" align="justify"><span style="font-family: Arial">Agents are seeing multiple offers on properties with curb appeal that are surfacing on the market. First-time homebuyers are realizing their dream of homeownership. Investors are taking advantage of the low prices and placing cash offers on properties that they hope will turn a profit. Short Sales (loans on properties that are higher than the current market value) are getting bank approvals faster and closing escrow.</span> <div>&nbsp;</div> <div align="center"><strong>NEW MONTHLY LISTINGS YEAR-TO-DATE</strong></div> <div align="center">&nbsp;</div> <div align="center">&nbsp;</div> <div align="center"><img height="237" alt="" src="http://nevada.choosewindermere.com/images/Chart.jpg" width="410" align="center" border="0" /></div> <div>&nbsp;</div> <div>&nbsp;</div> </div><P><a href="http://donnalefeverrealestate.com/blog/2009/05/08/las-vegas-listing-inventory-shrinks" target="_blank">Permalink</a> | <a href="http://donnalefeverrealestate.com/blog/2009/05/08/las-vegas-listing-inventory-shrinks#comments" target="_blank">Comments</a></P>Donna Lefeverhttp://donnalefeverrealestate.com/blog/2009/05/08/las-vegas-listing-inventory-shrinksFri, 08 May 2009 16:05:00 GMT