NHORA Members Successfully Completed REO Certification Course

NHORA MEMBERS PICTURED "IN ACTION" ON 12/16 & 12/17-2009; AFTER SUCCESSFULY COMPLETING REO CERTIFICATION COURSE NECESSARY TO START OR CONTINUE GETTING MORE REO BUSINESS FROM BOTH BANKS AND ASSET MANAGERS.

PLEASE LET US KNOW HOW CAN WE SUPPORT YOUR INDIVIDUALS, LOCAL, & NATIONAL, REAL ESTATE NEEDS[REO'S SHORT SALE, REGULAR LISTING, REFERRAL BUSINESS, EDUCATION, REO CERTIFICATION / EXPERIENCE / NETWORKING, ETC.] AT THE LOCAL AND NATIONAL CHAPTER LEVEL.

PLEASE, WE NEED TO HEAR FROM YOU, WE VALUE YOUR VALUABLE [WIN/WIN] IDEAS FROM ALL OF YOU.

NHORA Membership opportunities are open to industry professionals and leaders in Housing, Banking, Ancillary Service Providers and housing related Business Owners with chapters scheduled nationwide. Learn More @ www.NHORA.org

Como Comprar Una Propiedad Al Banco (REOs)

REO en términos simples (Wells Fargo Home Mortgage)

¿Qué es una propiedad REO en resumidas cuentas? ¿En qué se diferencia del proceso de compra típico? Cuando analice una propiedad REO - al igual que todas las propiedades - es importante que esté bien informado, de modo que conozca muy bien el proceso, desde el primer saludo hasta el momento del cierre.

P. ¿Qué significan las siglas REO?

R. REO es el acrónimo del término inglés "Real Estate Owned" o propiedades embargadas tras juicio hipotecario. REO es un término de la industria financiera que hace referencia a las propiedades que una institución ha ejecutado y que ahora le corresponden.

P. Si presento una oferta directamente en lugar de hacerlo a través del agente registrado, ¿Premiere Asset Services aceptará un precio menor?

R. Sólo aceptaremos ofertas presentadas a través de agentes registrados. Realizamos la valoración de nuestras propiedades de conformidad con el mercado local y asumimos que las venderemos al valor justo del mercado. Al igual que con cualquier listado de propiedades, el precio solicitado está basado en su condición frente al mercado local.

P. Luego de presentar la oferta, ¿cuánto demora una respuesta normalmente?

R. En el término de 48 horas a partir de la recepción de la oferta de nuestro agente registrado, aceptaremos la oferta o le presentaremos una contraoferta. El agente registrado le comunicará nuestra respuesta al agente del comprador, en el caso de que usted esté trabajando con un agente por separado, o a usted directamente. Si la oferta es presentada durante un fin de semana, la analizaremos al siguiente día hábil.

P. ¿Qué sucede si la propiedad requiere reparaciones, ya sean menores o considerables?

R. Asegúrese de hablar con el agente registrado para confirmar que usted entiende claramente los términos de nuestro listado. En la mayoría de los casos, la propiedad será ofrecida "tal como está" y su condición estará reflejada en el precio de lista. Cuando compre una propiedad "tal como está", asegúrese de realizar un estudio para comprender claramente en qué condición estructural y mecánica se encuentra la propiedad; los sistemas de calefacción, ventilación y aire acondicionado; las cañerías internas; el pozo y el sistema séptico. Es posible que el estado de estos componentes de la casa influya en los tipos de financiamiento disponibles. No obstante, existen préstamos especiales disponibles que permiten obtener préstamos sobre el valor de la casa tras las mejoras. Estas opciones le permiten comprar una casa sumamente venida a menos y convertirla en la casa de sus sueños. Para obtener más información, visite Recursos para la compra de una casa.

Pew Data on Five Largest Latino Populations in U.S.

If you haven't decide whether or not target the Latino market in the USA, here is some stas that will help you decide.

•Mexicans make up over two-thirds of the U.S. Hispanic population, with four in ten living in California.

•The number of Puerto Ricans living in the U.S. and DC is higher (4.1 million) than those living in Puerto Rico (3.9 million), and are the second largest population of Hispanic origin residing in the U.S.

•The share of Cubans who live in poverty (12.3) is much closer to the percentage of the overall U.S. population (11.9%) and below the share among all Hispanics (19.5%).

•Six in ten Dominicans in the U.S. are foreign born, and eight out of ten live in the Northeast.

More Hispanics Buying Homes

Sioux Falls' Hispanic community is flexing its financial muscle in the real estate market. Breaking down language barriers is opening up more housing opportunities for immigrant families.

Sioux Falls real estate agent Freddie Contreras has seen the number of his Hispanic clients grow from zero to forty percent in the past year.

"That process is growing, I'm marketing more to them," Contreras said.

It helps that Contreras, of Mexican descent, speaks the language. He often has to translate the housing paperwork line-by-line for his Hispanic customers looking to buy a home. To Contreras, trust is just as important as what's in the fine print.

"You do build a good relationship with them, almost as a family they're, a second family for yourself, because there is a huge trust factor that you're not saying something that's not on the documents," Contreras said.

Many immigrants are often reluctant to buy a home on credit. They come from a culture where paying cash up front is the only way to do business.

"So for them to translate that now over here to ok, maybe I should owe something so that they will let me borrow something is difficult for them sometimes to comprehend," Contreras said.

As real estate companies and banks offer more bilingual support, Hispanic families are responding by purchasing both start-up and move-up homes; proving that pride in ownership crosses all cultural and language barriers.

This September, Contreras took part in a home buying seminar for Hispanic immigrants sponsored by the Sioux Falls Spanish Speaking Community Association. Four families who attended the seminar are in the process of closing on homes.




Perry Groten
© 2009 KELOLAND TV. All Rights Reserved.

San Francisco Bay Area home prices inch toward stability with fewer foreclosure sales

Home prices in the San Francisco Bay Area registered year-over-year gains last month for the first time in nearly two years.

The gains marked a move back toward stability for the region’s real estate as fewer distressed properties were sold and homes costing more than $500,000 accounted for a larger portion of sales.

The median price paid for all homes reached $390,000, up 6.8% from $365,000 in September and up 4% from $375,000 in October 2008, according to MDA DataQuick of San Diego. The last time the nine-county area booked a year-over-year gain was in November 2007.

Last month’s median was the highest since hitting $395,000 in July this year. But the October median was still 41.4% below the $665,000 peak reached during the height of the Bay Area’s boom in June and July of 2007. The median is the point at which half the homes sold for more and half sold for less.

A total of 7,933 homes were sold last month, up 0.7% from 7,879 in September and 4.2% from 7,613 in October 2008. Sales in the region’s pricier areas – Marin, San Francisco, Santa Clara and San Mateo – made up 42.2% of October sales, up from 35.3% in October 2008.

Sales of homes that cost more than $500,000 constituted 36% of sales in October, up from 34.9% in October 2008 and well up from a low of 22.7% in January.

Last month’s increase in the median sales price also came as foreclosure properties made up a smaller portion of the resale market. Sales of homes that had been foreclosed upon in the prior 12 months made up 31.9% of all previously owned homes sold in October, DataQuick said.

That was down from 32.3% in September and 44% in October 2008. Foreclosure sales peaked at 52% of the resale market in February.

The drop in foreclosure sales came as banks and loan servicers increasingly pursued alternatives to the foreclosure process such as loan modifications and short sales -- where a lender agrees to sell a home for less than the value of a mortgage, DataQuick said.

-- Alejandro Lazo

Think-tank study finds foreclosure crisis hits blacks, Latinos hardest

By Deepti Hajela

The Associated Press

NEW YORK — African Americans and Latinos are at a disproportionate risk in the ongoing foreclosure crisis because they are more likely than whites to have higher-cost mortgage loans and face higher unemployment rates, a report says.

The new report from the San Antonio-based William C. Velasquez Institute called on the federal government to take steps, including reforming bankruptcy laws and expanding eligibility for mortgage modification, to help combat the crisis.

"If nothing is done, then the foreclosures will continue disproportionately hitting blacks and Latinos," said UCLA professor Raul Hinojosa, the study's author.

Hinojosa said continued foreclosures could wipe out billions of dollars in home equity amassed in those communities, and that even owners who kept their homes would be affected by lower property values in foreclosure-riddled neighborhoods.

"Not only are you wiping out this generation of black and Latino families," he said, "but those neighborhoods go into serious decline."

Jose Calderon, vice president of programs and policy for the Hispanic Federation, said the foreclosures carried a far-reaching impact.

"The social cohesion of our communities is being destroyed," he said.

Unemployment is now the primary force behind foreclosures. Borrowers are struggling with no income and lenders are having a harder time reworking troubled loans.

Blacks and Latinos suffer in comparison to whites both in unemployment rates and having loans with higher interest rates.

The nationwide unemployment rate is 10.2 percent. For blacks, it's 15.7 percent and for Latinos, 13.1 percent.

The report said that in regions across the country, blacks and Latinos were anywhere from two to nine times as likely as whites to have high-cost mortgages.

The William C. Velasquez Institute is a nonpartisan think tank that studies Hispanic issues.

Guia de Bienes Raices de Tampa, FL

Bienvenidos a la Guia de Bienes Raices de Tampa, FL

Mas que solo una ciudad grande con toda la sofisticacion, cultura, industria y los servicios que eso implica, Tampa tambion es el lugar para las vacaciones familiares y los encuentros de tipo natural. Localizada en la ensenada mos grande de Florida, Tampa Bay, la cual la separa de St. Petersburg su ciudad hermana, tiene bastante historia maritima pasada y presente. Con su posicion estrategica empezo como un fuerte de Guerra Seminole, posteriormente su acceso rapido al Golfo de Mexico y el puerto profundo trajeron la fabricacion de cigarros y preparaciones para la guerra hispanoamericana a la ciudad.

Para una lista completa de recursos locales en Tampa, visiten

¡Antes De Comprar Tu Casa Infórmate! Guia Para Compradores!

Aprende todo el proceso de comprar una casa al descargar la Guía Completa De Bienes Raíces como parte de la campaña educativa de REL.com. Esta es una guía completa con mucha información actualizada y que en verdad beneficia al comprador Latino. Explica el proceso de prestamos, pasos a tomar antes de trabajar con un Realtor, los tipos de prestamos que más te conviene y como si esto fuera poco también incluimos información para mejorar tu crédito gratuitamente y así poder recibir las mejores tazas de interés en el mercado.

Para descargar una copia gratis de la Guía haga un click aqui!

LOCAL JACKSONVILLE BANKS RECOGNIZED FOR FORECLOSURE EFFORTS

FOR IMMEDIATE RELEASE Contact: Ginny Walthour, (904) 630-2518

LOCAL BANKS RECOGNIZED FOR FORECLOSURE EFFORTS
Foreclosure Task Force Applauds Initiatives and Monetary Donations

JACKSONVILLE, Fla., Dec. 10, 2009 – City Council Member Kevin Hyde joined members of the Jacksonville Foreclosure Task Force today to recognize the foreclosure efforts and monetary donations that local banks, Regions Bank, Wachovia/Wells Fargo and EverBank, have contributed to the City of Jacksonville’s marketing efforts in foreclosure prevention. Together, the three banks have donated $35,000 to assist the city with their efforts to reach homeowners in need to prevent foreclosure.

According to the Duval County Clerk of Courts, from January to September, more than 10,770 lis pendens notices were filed. Jacksonville recently posted a 64 percent foreclosure rate – one of the highest in the country, according to RealtyTrac.

Council Member Hyde was instrumental in creating the Jacksonville Foreclosure Task Force whose responsibility is to make recommendations to the mayor, city council and the Housing & Neighborhoods Department for further action in preventing foreclosure and providing assistance and relief to those facing or subject to foreclosure. Michael Boylan, president of WJCT, chairs the task force which is composed of nine members with considerable experience in banking, consumer law, marketing, housing, credit counseling, social service or other fields that provide a unique and substantial insight into foreclosure prevention, assistance and relief.

“The primary goal of the task force is to ensure that homeowners facing financial difficulty can fully explore ways to stay in their home. The task force, in an innovative partnership with the private sector and the city’s Housing & Neighborhoods Department, continues to distribute information and develop ideas to assist homeowners in need,” said Council Member Hyde. “I would especially like to express my appreciation to the local banks— Regions, Wachovia/Wells Fargo and EverBank—for their continued financial support in helping to achieve these goals.”

Through its extensive community efforts and programs such as the Stay Home Web program Web site on www.coj.net and the Facing the Mortgage Crisis initiative with WJCT, the city has been able to provide resources to connect those homeowners who may face or are facing foreclosure with the appropriate agencies for assistance. The Housing & Neighborhoods Department has mailed more than 2,260 informational packets to homeowners who have received lis pendens notices and anticipates reaching more than 5,000 families in the upcoming months as more notices are filed.

“The key to success for homeowners in trouble is to get assistance as early as possible. I was pleased to help lead the fundraising efforts with the local banks to raise the necessary monies to assist the city in reaching homeowners in need,” said Regions Bank President Marty Lanahan. “Prevention of foreclosures starts with educating homeowners about managing credit and the pitfalls of predatory lenders and the informational resources provided by the city are well-equipped to help our homeowners.”

More information about the city’s foreclosure programs can be found at http://www.coj.net/Departments/Housing+and+Neighborhoods/default.htm.