Posts Tagged ‘southern california’

9 Months ‘Til Due

Posted: March 19, 2013 in bank reo, CDPE, Commercial Real Estate, CRE, CRS, David Alvarez, David N. Alvarez, investment strategies, JoinDNA, Keller Williams, Keller Williams Realty, KW, KW Commercial, Leasing Vacancies, Market Share, Nissi Agents, Real Estate, Residential, short-sale, The Real Estate Game, Uncategorized, wealth creation
Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

december-pregnancy-400x400

Time is ticking and this real estate “baby” is due.  What “baby” could that possibly be? In 9 months the Mortgage Debt Relief Act will expire on, December 31, 2013, for homeowners that owe more on their home than what it is currently worth.

Just like a pregnancy requires a great doctor, so do underwater homeowners require a great real estate broker. The top five states that experienced mortgage fraud in Q4 of 2012 were: 1. Nevada 2. Arizona 3. Florida 4. New Jersey 5. California; all 50 states experienced some type of mortgage fraud. No homeowner should have to go through such thing.

While there is much talk about a recovering real estate market, there are still homeowners that lost too much equity on their property the past 5 years to be helped by today’s current market.

Most homeowners think they have plenty of time to take advantage of this Mortgage Relief Act because 9 months seems far away, but in reality time is very short. Here are top 5 reasons why underwater homeowners do not take action:

1.  Too embarrassed.

2. Do not know a qualified broker.

3. Fear of the unknown.

4. Heard bad advice from unqualified people.

5. Are in denial of their problem.

If you are a homeowner who owes more on your home, and do not know what to do, then do not allow any reason stop you from getting the help you deserve. A homeowner who does not take action today will suffer unnecessary future consequences. Most foreclosures that occurred in 2012 could have possibly been avoided if the homeowner sought help by a qualified real estate broker.

The truth about today’s real estate market is that recovery is taking place, and yes there is a shortage of available homes for sale, but for underwater homeowners who experienced 50%70% loss in equity, not even a 10% appreciation in 2013 can save them from the past economic downturn.

My recommendations are the following, get in touch with a qualified real estate broker right now, get the answers you know you need, and then decide what is best for your family. Don’t allow fear to hold you back from getting rid of this nagging debt. Lastly, take advantage of the potential bank incentives that are being offered to homeowners that range from$3,000-$20,0000. Most importantly, start right now.

 Download this month’s FREE report about, Mortgage Fraud Alert, at http://www.NissiAgents.com. You may always call our FREE 24-hour voice-recorded line at, 1.866.476.1677 Ext. 455 to set up a FREE consultation or with any questions you may have about today’s market. You may connect with me personally through social media at: www.JoinDNA.com. If this article helped you in any way, please share it with a family member, friend, or neighbor that may also benefit from this. The more you give, the more that comes back to you

Advertisements

Brokers can’t lie, it’s against the law. So is speeding, yet so many of us do it involuntarily.

Real estate is a potential wealth creation avenue. Whether a person is a first time homeowner or a sophisticated investor of a million-dollar portfolio, there are potential wealth creation opportunities in every transaction. Wealth creation in real estate can vary for each person’s needs or goals. For example, wealth creation for a first time home buyer may be if he bought a home with decent equity, or when an investor buys a rental property that generates a decent annual positive cash flow.

While there is no such thing as guaranteed success, there are strategies and tactics that help minimize as much risk possible when buying or selling real estate as an investment.

Unfortunately, there are brokers that lie in the real estate industry, some intentionally and some out of plain ignorance.

When a broker lies, and an investor is new, a lawsuit is waiting to happen after the final signature goes on the contract. It’s not that I want to scare you from brokers, but I share this with you so you don’t end up with a mess of lies and future financial trouble.

broker

How do you know if you are working with a broker who lies? You check their track record. What do past clients say about this person on and off work? Are there any references you can check? Most importantly, if you actively invest in real estate or plan to, you should continuously learn about investment laws and strategies that will help you stay profitable and lawsuit free.

Whether you are a rookie or sophisticated investor, we invite you to a FREE commercial real estate class titled, “Why do landlords negotiate in certain ways, and why lease terms matter?” It will take place this Wednesday, March 13, 2013 from 9am-10:30am, at 11890 Hesperia Rd., Hesperia, CA. We will have a guest speaker & author, Brad Umansky, teaching the class. This is a must attend if you plan to invest in real estate or actively do right now. Please RSVP at the number provided at the end of this article.

As always, we provide FREE reports and information about today’s market at http://www.NissiAgents.com. You may always call our FREE 24-hour voice-recorded line at, 1.866.476.1677 Ext. 455 to set up a FREE consultation or with any questions you may have about today’s market. You may connect with me personally through social media at: www.JoinDNA.com. If this article helped you in any way, please share it with a family member, friend, or neighbor that may also benefit from this. The more you give, the more that comes back to you

A couple of weeks ago we talked about how a home is like running a business. In this article we will move straight forward into household budget tips promised from part one of the previous article.

A household budget consists of eight important categories. They are the following: charity, saving, food, utilities, housing, transportation, clothing, and personal. When a person gains control over each of these areas, they eliminate a weight of apprehension and can step into the flow of anticipation.

First on the list, charity, it is a simple yet amazing concept. Givers flourish, and more comes back their way. When thinking about giving ask one simple question, “How can I contribute back to the world with my money in a way that represents me?” You’ll be amazed at the answers you have, start with one, and as you increase financially you’ll do far more than you imagined. The key is to start with what you have, not until you have. Second is saving, set an amount you will save based on your current income level and start there. The key in saving is to eventually save at least six months of total household expenses in case of an emergency. Saving is not meant to create wealth, that’s what investing is for. Third is food, these are the monthly expenses of all the food from groceries and dining out. Fourth is utilities, identify consistent expenses in things like gas, water, electricity, phone, internet, cable, and so forth. Fifth, housing, this expense category should be fairly exact each month, these include your first mortgage/rent, second mortgage, real estate taxes, repairs, homeowner insurance, and so forth. Sixth, transportation, these are your car payment(s), gas and oil, auto insurance, repairs, tires, and any other car related expense. Seventh, clothing, these are any purchases for anyone in the household. Eighth, personal, which consist of life insurance, health insurance, disability insurance, child care/sitter, entertainment, gym membership, and any other related expense.

Knowing where you currently stand financially is anticipation. Anticipation helps eliminate unnecessary guessing and causes productivity to soar like an eagle! I highly recommend all my real estate clients to become debt-free and to make that their goal even when it looks “impossible” to start. The best kept secret is this, do all you can with all you currently have today, not tomorrow, today. Before you know it, once you apply this principle for 365 times in one year, you’ll be far ahead. Once a family is out of debt they can step into investing, and when investing is done properly, that debt-free individual or family become a force for greatness.

If this article helped you in any way, please share it with a loved one. The more you give, the more that comes back to you. Happy 2013!

Feel free to contact us at 760.596.9856 or email us at info@NissiAgents.com for a FREE sample household budget. As always, if you like to personally connect with me for awesome social media updates, please do so here: http://www.JoinDNA.com

A couple of weeks ago, millions of Americans experienced Black Friday sales. Do you know why it’s called Black Friday? In short, it is because most businesses’ profit and loss statements enter the “black” from the success of those sales, in other words, they break even and enter into a positive. Every month we are either in the “black” or in the “red,” as it relates to our finances. There is income and expenses, and we are either at a profit or a loss. Sounds like running a business, right?

Your home is like running a business, and it is one of the most important topics in any real estate market. When I meet with property owners I run into many different personalities. Some owners are extremely organized, and others seem to make it through life with no cares and somehow the mortgage, household expenses, and so forth get paid.

Part of owning a home means knowing as accurately as possible how much income you receive and the expenses that exist each month. It comes down to an important topic I teach in real estate ownership and investing, apprehension vs. anticipation. When we anticipate we create greater chances of winning consistently, and when apprehension is present we slow down our progress.

For example, a homeowner who is projecting in the year 2013 on listing their home for sale, it is recommended to begin the preparation process 7-10 months in advance, because it helps eliminate much of the guess work (apprehension), and helps a property owner better position themselves for the day they go on the market (anticipation). There is more detail involved in the process, but the point I want to share is simple: apprehension will cost you time & money, anticipation will save you time and make you money.

In the next article I will share a basic strategy to set up a household budget that can be immediately implemented. Start running your home like a business, and watch your personal finances avoid “the red” and consistently stay in “the black”. If you are a homeowner that is considering selling at some point in the year 2013, please do yourself a favor, and begin preparing now. Feel free to contact us at 760.596.9856 or email us at info@NissiAgents.com for a FREE Market Analysis on your home to begin the preparation process of what is ahead in the year 2013. As always, if you like to personally connect with me through social media, please do so here: http://www.JoinDNA.com

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.

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