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Guest Post: FHA Takes Steps to Boost Foreclosure Sales

February 24, 2010 Miscellany No Comments
Guest Post: FHA Takes Steps to Boost Foreclosure Sales

The federal government hopes to help low-down-payment home buyers, investors who fix up foreclosures, and communities burdened with too many bank-owned and foreclosed homes — all with one potentially far-reaching policy change.

The Federal Housing Administration revised its long-standing anti-flipping rules effective Feb. 1 and just might score a hit with all three target groups. For years, the FHA has had a strict prohibition: It wouldn’t insure a mortgage on a house if the seller had owned it for less than 90 days. The ban was a reaction to fraudulent quick flips of houses that inflated their values far beyond market worth. The flips often were pure cons: Buyer A would acquire a low-cost house in bad repair, make minor cosmetic changes and resell within days at a significantly higher price to Buyer B, who was also part of the scheme. The sequence could involve a string of serial flippers within a month or two, with prices spiraling upward.

This is a guest post by Bert Waugh, III, the CEO and President of Columbia Mortgage. Columbia Mortgage has offices throughout SW Washington and Oregon. Bert is a blogger, huge Oregon Duck fan, and lives in Portland with his wife, Jamie and there children Brody and Parker.

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Reality and Hope

Reality and Hope

As you know I try to send out as many news articles as I can that provide a positive message on the economy and market. The article I am sending today is not one of those. However, it is one that we all need to be aware of because we cannot put our heads in the sand in times like these. Your clients will most likely see this article because the NEWS always seems to focus on the negative side of things. As trusted advisors it is our responsibility to be able to speak truth about the market no matter what the conditions and to provide action plans for our clients to achieve their goals.

Here is the article:

http://rismedia.com/2009-09-21/return-to-housing-peak-is-10-years-away-analysts-say/

The most successful business people have the ability to not only face their current reality but also have faith that in the end they will prevail regardless of the difficulties they experience. Nothing can hold back someone with passion of purpose, a vision for their business, a strategic plan for their actions, and the ability to prioritize their time.

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Finish The Year Strong!

September 14, 2009 Personal Development, Sales No Comments

Join us for another engaging panel discussion on September 24th from 10am to 11am. We will be speaking to agents from across the company about their plan to finish the year strong and start 2010 off right. Your peers will be sharing their high payoff activities and business generation ideas that are proving to be successful. You’ll walk away with ideas and action plans to implement over the next 90 days so that you too can Finish the Year Strong!

Reserve your Webinar seat now at:
https://www2.gotomeeting.com/register/583562243

View the Finish The Year Strong Webinar Flyer

Make it a great day!

Coach Dan

Pending Home Sales on a Record Roll

September 1, 2009 Sales No Comments

Washington, September 01, 2009 – Source NAR

Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors®.

The Pending Home Sales Index,1 a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a reading of 94.6 in June, and is 12.0 percent higher than July 2008 when it was 87.1. The index is at the highest level since June 2007 when it was 100.7.

Lawrence Yun, NAR chief economist, said the housing market momentum has clearly turned for the better. “The recovery is broad-based across many parts of the country. Housing affordability has been at record highs this year with the added stimulus of a first-time buyer tax credit,” he said.

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Job Loss Protection Program

August 26, 2009 Sales No Comments

Today, Prudential Northwest Properties is announcing a new program that pays up to $10,800 toward mortgage payments if a home buyer unexpectedly loses their job! Fear of job loss has kept some potential home buyers from taking advantage of the fantastic mortgage rates and real estate inventory currently available. Our new mortgage assistance program is a great solution to alleviate those fears.

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About Me

I am the Branch Manager for the Newberg and Sherwood Teams of Prudential Northwest Properties, the largest locally owned real estate company in the Portland Metropolitan Area.

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