Archive for October, 2012

We all have been at fault about this home depreciation effect, whether done intentionally or unintentionally. “So how is a silent neighbor currently depreciating my home,” you may be wondering? Let’s take a closer look at the foreclosure effect.

Silent neighbors depreciate your home value because every home that goes into foreclosure and is resold by the bank,  further drops your home value and neighborhood value. From the moment a homeowner misses their first mortgage payment, is foreclosed on, and all the way to a sheriff’s eviction, on average, that distressed homeowner shared their hardship with at least one neighbor. What is the response of most neighbors to their distressed neighbor’s problem? “When they foreclose on you, if you need help on moving day, just let me know.” That is a sincere help, but sincerely the wrong kind of help. While that distressed homeowner’s neighbor meant well in his approach to help, it still didn’t help stop the foreclosure, and from depreciating your current home value.

As a rule of thumb, any home that forecloses within a half to one mile radius from your home, and has similar features, square footage, and so forth, it will have an impact on your current home value. When foreclosed homes go on the market, they sell anywhere between 70%-90% below market value, while some short sales actually sell at current market value, or close. In most cases, it is obvious that a foreclosure sale damages your home value more than a short-sale. Asset Plan USA recognized that bank foreclosures cost the bank more in time and money, and is not a win-win for neither the bank or the foreclosed homeowner.

So what are solutions to a distressed real estate market still in recovery? Out of about ten solutions that exist, here are the two most commonly exercised, and will help not devastate your current home value; a loan modification (About 20% applicants are approved.) or a short sale. The third solution is you. You are also another solution to this recovering real estate market. How? By not being a silent neighbor yourself, and proactively finding out who in your neighborhood is going through a hardship where foreclosure is eminent. As a proactive neighbor, you can immediately introduce them to a real estate agent with the appropriate certifications and market knowledge to help your neighbor avoid the pain of foreclosure, and not devastate your current home value.

The faster we help each homeowner in hardship, the faster we can begin experiencing a healthier real estate market. Instead of judging our neighbor’s situation, lets get into curiosity, and be of help in a time of need. Feel free to obtain a FREE report about “Loan Modification Secrets” at: http://www.beatbankrepo.com/Loan-Mod-Secrets.aspx or just call us at 760.596.9856, and we will forward it to you. One last thing, go see your neighbor, and share this article with them, because you are helping them avoid foreclosure and uphold your home value.

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The clock is ticking fast and the Mortgage Debt Relief Act of 2007 will expire at the end of this year. This Act was put in place to protect distressed homeowners from paying taxes on debt forgiven once their short sale closes.

Prior to this act when homeowners negotiated a short sale, traditionally banks were legally required to report the debt wiped off the account to the IRS. Even though the homeowner did not see a dime of this forgiven money at the close of escrow Uncle Sam classified this forgiven debt as income. Unfortunately, this left some homeowners to foot the bill for the taxes on that “income”.

While congress decides whether to or not to extend the act beyond December 31st, homeowners who have been on the fence of indecision must act immediately. Unbeknownst to most, foreclosure can cause more damage than most are aware of. The Mortgage Debt Relief Act of 2007 is designed to offer homeowners relief from having to pay income taxes on forgiven mortgage debt, saving them from trading one unreasonable debt for another.

So what needs to be accomplished before this expiration date? All you need is a successfully approved and closed short sale transaction before the end of Monday, December 31, 2012.

If you’ve been listening to the mainstream media you’ll hear two very different opinions on the subject. Some experts expect the act to be extended, while others are of the opinion that the housing market is on the verge of another foreclosure wave. I genuinely hope this extension takes place so that more homeowners may take full advantage of this act. We must be realistic in our approach though; prepare for the worse, and expect the best. In the event that it doesn’t receive an extension in the very near future, many homeowners that would have otherwise been able to benefit from this Act will miss out on this opportunity. For those that take action right now, and the extension happens to pass, you will be closer to experiencing relief from the weight of that mortgage burden once and for all.

It is my sincerest wish to see more homeowners informed and prepared for the fast approaching changes. As a matter of fact, here is how you can help a neighbor, friend, and family member, share with them this article right now. They will thank you, and you will feel good that you were part of a solution in their moment of crisis.

Therefore, backed by popular demand, the many questions homeowners have in today’s evolving real estate market will be answered in a FREE Pre-Foreclosure Solutions Seminar happening on November 3, 2012. This seminar is for homeowners who are seeking an answer regarding their situations and better understand how the markets are behaving in their neighborhoods. Seminar will take place on November 3, 2012 @11am, in Upland, CA. Please call: 760.596.9856 to RSVP, and connect with me online at www.JoinDNA.com  for real estate market updates. For immediate answers regarding pre-foreclosure solutions please visit: www.BeatBankRepo.com. – #dna

When you compete you lose, because your focus is on what the other person or business is doing and not cultivating the greatness you offer to your market (clients, product, service). Domination is key to success in any endeavor you set out to accomplish.

Let’s lay the ground rules for what dominating looks like. First, dominating is not controlling, manipulating, or bullying other human beings; I repeat, dominating is not dominating another human. Dominating is using all your gifts, talents, and resources from earth to flourish in your God-given calling from heaven right here on earth. Sometime ago, I got a wakeup call from a best-selling author and speaker, Grant Cardone. He shared exactly what I share with you in this writing, he said, “Dominate, don’t compete!” My first impression was who is this guy? I decided to get out of judgment and into curiosity, and heard his entire speaking session. Needless to say, his message reminded me at the core of my being to dominate, that I was meant to dominate my space and environment for the betterment of the lives I come in touch with. I approached him, “You know when I first heard you, I thought to myself, ‘who is this jerk?’ but now I realize that you were right and your message has forever branded my heart!” We shook hands and exchanged a bit more conversation, and now we are twitter acquaintances haha.

I pass on this truth to you now; whatever you are doing now, dominate it. Come with your absolute best at every moment with every human being. People are watching you, and when you least expect, you leaves marks of, what I like to call, “heaven” (excellence) everywhere you go.

Then as I conversed with God later that day He was like, “You know Grant was right, right?….” and I laughed as I walked back to my hotel on the Las Vegas strip that afternoon…See Genesis 1:28 🙂

Real estate for centuries has been associated with wealth and power, and rightfully so, because he who owns the land calls the shots. While there is some truth in my opening statement, lets first answer this question, “Is real estate a rich man’s game?” The answer is no, at least not in these blessed United States of America. Real estate homeownership and investing is for the ordinary man with a plan. I can already hear the questions coming my way, “but David, real estate isn’t cheap, at least not the decent type worth owning…” True, but who said one needs to buy expensive or use your own money? I leave you with the first clue of stepping into this “rich man’s game,” first know your personal purpose. Identify what you want in life for yourself, your future, and every person that will be part of your journey, and secondly, find your “why.” Why do you want what you want. Once these two questions are answered, then you have a better understanding how real estate will (or will not) play a role in your purpose and why. The fuel is in your purpose and why…and then the “how” begins to direct your steps. The fuel is not in how much your current bank account says you have. – #dna