Robyn Yates's Blog

Windermere Real Estate to Donate $25,000 to Hopelink

Robyn Yates — Thu, 03 Jun 2010 22:35:00 GMT

Grant will enable nonprofit to continue fighting homelessness through 2011

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.

The 2009 endowment of $25,000 came from Windermere agents. For every transaction a Windermere agent made in the Las Vegas valley, a fee was donated to the foundation. Windermere agents care about the community they live in.

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.

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.

"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."

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.

"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."

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.

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.

Permalink | Comments

FORECLOSURE VS SHORT SALES

Robyn Yates — Fri, 02 Apr 2010 17:06:00 GMT

Homeowner Consequences

Issue	Foreclosure	Successful Short Sale
Future Fannie Mae Loan-Primary Residence	A homeowner who loses a home to foreclosure is ineligible for a Fannie Mae-backed mortgage for a period of 5 years.	A homeowner who successfully negotiates and closes a short sale will be eligible for a Fannie Mae-backed mortgahge after 2 years.
Future Fannie Mae Loan-Non Primary Residence	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.	An investor who successfully negotiates and closes a short sale will be eligible for a Fannie Mae-backed investment mortgage after 2 years.
Credit Score	Score may be lowered anywhere from 250 to more than 300 points. Typically will affect a credit score for over 3 years.	Late payments on mortgage will show, and after sale, mortgage is normally reported as "paid as agreed," paid as negotiated," or "settled." This can lower the score as little as 50 points if all other payments are being made. A short sale's effect can be as brief as 12 to 18 months.
Credit History	Foreclosure will remain as a public record permanently, and on a person's credit history for 10 years or more.	A short sale is not reported on a credit history. There is no specific reporting item for "short sale." The loan is typically reported "paid in full, settled."

Permalink | Comments

HOME AFFORDABLE FORECLOSURE ALTERNATIVES (HAFA)

Robyn Yates — Wed, 24 Feb 2010 21:20:00 GMT

The Home Affordable Foreclosure Alternative will launch on April 5, 2010. Homeowners struggling to sell their homes in a short sale are getting some relief, thanks to the federal government's HAFA program.

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. Sometimes, the complex and lengthy process has failed, resulting in foreclosure.

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.

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. The updated short sale guidelines establish easy to understand process with pre-defined steps that make it easier for everyone to understand.

Eligibility Requirements

The HAFA guidelines apply to lenders who voluntarily participate in the HAMP (Home Affordable Modification Program). The Department of Housing and Urban Development says more than 100 servicers have signed up to participate in HAMP, covering more than 89 percent of mortgage debt outstanding in the country.

To be eligible for HAFA, homeowners must first apply for a loan modification through the Home Affordable Modification Program, or HAMP. Owners who do not qualify for a loan modification or miss payments during the initial loan modification period qualify for HAFA.

Property and Homeowner Requirements.

Property is principal residence.
Mortgage originated before Jan. 1, 2009.
Mortgage is owned or guaranteed by Fannie Mae or Freddie Mac.
Borrower is delinquent or default is foreseeable.
Homeowner demonstrates hardship.
Borrower's total monthly housing payment exceeds 31 percent of gross income.
Unpaid principal does not exceed $729,750.

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.

Finally, lenders must approve or deny the contract within 10 days.

HAFA rules also state that lenders must release borrowers from the obligation to repay the difference between the sales price and the loan amount. No deficiency judgments are allowed for a first or second loan.

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.

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 with second lien holders and $1,500 to the homeowners for relocation.

The moving expense allocation acts as an incentive for them to stay in the property until the short sale goes through.

Permalink | Comments

Short Sale approvals by banks increase dramatically while foreclosures slide

Robyn Yates — Wed, 10 Feb 2010 22:04:00 GMT

Las Vegas and Clark County lead the country in Short Sales. In January of 2009 approved short sales were less than 200 properties. By January of 2010 approvals were over 700 a month.

In early 2009 Short Sales averaged 7 to 8 percent of the total home closings. By end of year that percentage had increased to nearly 25% of the total market of closings.

There has been a dramatic decrease in foreclosure activity in Las Vegas. With the Federal Treasury putting pressure on Banks to either offer loan modifications or approve short sales, banks are foreclosing on fewer properties. 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. In addition investors can get $1,000 by allowing subordinate lenders to get $3,000 in proceeds from the sale. The program is effective April 5th but servicers can implement it earlier.

It is costly for lenders to go through the legal process of foreclosing. Short Sales are so much better for neighborhoods. Sellers selling their home on a short sale are generally still living in and caring for the home during the marketing and closing process. This enhances the neighborhood because that Short Sale is one less foreclosure in the community.

Banks have really gotten organized in the past year to more effectively process and handle these Short Sales. Many Banks have pulled Asset Managers from their Foreclosure departments and moved them to their Loss Mitigation (Short Sale) departments as Negotiators. 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.

In general a Short Sale is a more acceptable solution to most lenders than foreclosure. Working with the bank to find a solution through Short Sale rather than walking away from the property demonstrates higher level of cooperation.

Homeowners should consult their attorney and Certified Public Accountant to review the potential consequences of Short Sale and Foreclosure. 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.

For more information go to: www.choosewindermere.com/Nevada/Short Sales

Permalink | Comments

Take Back your Power!

Robyn Yates — Thu, 26 Nov 2009 18:07:00 GMT

It is time to let go of the economy and take control of your existence. You can either give away your power to; the economy, the market or the story of the day. Giving away personal power is giving away your control, hope and happiness. There is always a story for why things aren't going well. Today, this moment, take your power back!

Personal power is the ability to achieve what you want. More than anything else, it is personal power that brings you success and happiness. There have been some that have felt powerless in the economic climate of the past months.

Power is a multi-faceted concept. You experience a sense of personal power when you feel in control of your life. Power is the ability to achieve goals. It is also the ability to influence others. Considerable power comes from the ability to communicate. Power includes enthusiasm and optimism. Your energy level is related to your power. You have personal power when you are the master of your destiny. Power is related to self-esteem and confidence. The freer you are, the more you tend to experience your power.

· We give away our power - people can't take it without our perrmission

· We allow people and things to have an unhealthy level of control and influence in our life

· Getting angry, bitter and/or resentful at others will fix nothing.

· Positive change starts with awareness, understanding and acknowledgement

· The situation will change when you change.

Take back your personal Power by following these steps:

1. Challenge Yourself. 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. Being courageous is a choice. Be prepared to be uncomfortable and understand that is part of the growth process and part of taking back your power. Personal power is doing what you need to do to make your dreams come true. Many times this means doing something different than you are doing now! Otherwise you will keep getting the same results!

2. Face your fears. You can never take back your power until you confront the things that scare you. Being fearful does not represent weakness but rather humanity. Fear is something we can use for our personal development. Fear is personal. We all have our own personal fears. Today choose two of those fears to face. These fears can range from learning a new technology to bungee jumping.

3. Substitute gratitude for envy. There is always someone or something that is bigger and better. This is a losing game. Focus on gratitude for all that you have been blessed with; health, friendship, professional associates and peace. The only antidote for envy is appreciation.

4. Take control of your health. Exercise. The kind of exercise that empowers you is the kind that lets mind and body sing together as one. Find the exercise that induces a positive mental state and that is enjoyable to you. Maybe walking is empowering to you because you are expanding the scope of your surroundings. Yoga can bring tone and strength to mind and body. For some it is a game of tennis or golf.

5. Get Inspired and Inspire others. Surround yourself with others who inspire and challenge you. Working together with like minded committed and inspired individuals is exciting and productive.

"Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, It is the only thing that ever has."

Margaret Mead

6. Enhance and protect your brand Associate with people, organizations, situations and products that enhance your reputation and that are visionary. In the professional world your brand is your power. Your company brand should empower you with the latest tools, technology and marketing to enhance your business.

7. Keep re-inventing yourself. 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

" 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. "
Oprah Winfrey

Permalink | Comments

SHORT SALES - WHAT EVERYONE NEEDS TO KNOW

Robyn Yates — Fri, 11 Sep 2009 13:25:00 GMT

SHORT SALES - WHAT EVERYONE NEEDS TO KNOW

Summary Data on Short Sales

Short Sales are About 15% of National Housing Market
First-Time buyers are nearly half of Short Sale Buyers
Short Sale Properties sell at 15 - 20% less than non-distressed properties
Expect 2 Months for "yes" or "No" response to offers
Three offers for every completed short sale
Expect an Average of 4 Months on market
5% total commission is most common; 6% does happen

What should Homeowners who have challenges meeting mortgage payments do?

Homeowners having difficulty making their mortgage payments should talk to their mortgage servicer or a housing counselor as early as possible.The servicer may not be the same company that originated the homeowners mortgage.
The servicer will work with their customers to find viable alternatives to foreclosure where possible.
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.

What is a Short Sale?

A short sale is a program that allows homeowners to sell the home for less than the amount owed on the mortgage.
Homes are sold at fair market value and the proceeds are used as payment in full on the mortgage.
Borrowers must qualify to be considered for a short sale.
Qualification does not guarantee short sale approval.
Note: 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.

Homeowner options include:

Refinancing
Repayment plans
Loan modifications
Short sales
and other options

Why are there short sales?

Homeowners have an involuntary hardship and can no longer afford their monthly mortgage payments.

The property is worth less than what is owed.

Short sale homeowner benefits

Avoid stress of foreclosure sale; honorable exit to a difficult situation.
Homeowners can typically live in the home until the new owner closes, giving time to make other living arrangements.
Foreclosure is postponed and collection calls will stop once a written, signed offer is received and approved.

Short Sale impacts

Homeowner impacts

Credit report will state "paid off in full for less than full balance."Reestablishment of credit may be required to qualify for a new mortgage following a short sale.
There may be tax implications. The homeowner should speak with their tax advisers about the tax implications of a short sale.

What else homeowners should be aware of

Buyers cannot be anyone the homeowner has a close personal or business relationship with,including family and friends
Homeowners are responsible for making their mortgage payments while the home is on the market.
Mortgages in bankruptcy require special consideration.
Homeowners should speak with their mortgage company to discuss their options.

What does the Sellers' REALTOR need to know

Who would not be eligible buyers

Anyone with a close personal or business relationship to the homeowners; family, friends, neighbors.

How to possibly reduce the time line

Notify the lender that is servicing the property as soon as the listing contract is signed. This allows the servicing company to complete the property valuation and borrower financial evaluation prior to receiving the offer. This significantly reduces the short sale decision time on a submitted offer.
Allow the appraiser timely access to the property
Due to the complex nature of the sale, the process does not follow those of a typical real estate transaction

What REALTORS need to know

A short sale approval is good for only 30 days
If the closing does not occur within 30 days:
The entire short sale package may need to be resubmitted with updated information, and/or the approval process may need to start over.
Buyer concessions must be approved by the investor.

Common Short Sale obstacles

Unrealistic expectations

Timeliness do not follow typical offer-to-close time line
Price 'low ball' offers due to market conditions
Excessive seller concessions and costs

Offer does not meet investor guidelines

Mortgage insurer requiring promissory note

Processing delays

Valuation delays
REALTOR and customer required documents missing or not signed and dated properly

Team not fully engaged

Buyer's REALTOR working short sale without homeowner engaged.
Buyer REALTOR often considered an unauthorized third

What can derail lender approval?

Homeowners/sellers
Refuse to sign investor required promissory note
Don't provide access to the property

Junior lien holders

Will not approve transaction

Buyers

Unable to secure financing

Property

Unclear title

Listing price

Too high or too low - either not generating enough offers or creating offers which are too low.

Permalink | Comments

Prudential California CEO... Joins Windermere as New President

Robyn Yates — Fri, 19 Jun 2009 09:41:00 GMT

The New President of Windermere Exclusive Properties February 27th, 2009 Steve Rodgers, former President and CEO of Prudential California Realty, Southern California was named a partner and the new President of Windermere Exclusive Properties.

Rodgers, who was with Prudential for more than 14 years, spent the last few months researching the companies and cultures that best fit with his views for the future of real estate. He was honored to have been presented with career opportunities at numerous local, national and international real estate firms and franchises.

"There were many exciting and impressive people and meetings along the way to consider" said Rodgers. "But the partnership with Windermere Real Estate presents a unique opportunity for me to work with a more boutique, locally owned and operated firm. At Windermere, I can serve agents and consumers in a more personal and targeted way."

Windermere agents enjoy the less corporate atmosphere and consumer centric focus of their San Diego offices. The branches are locally run and provide agents with exceptional support and training.

...(Continued)...

Permalink | Comments

A Special Message From Robyn Yates

Robyn Yates — Wed, 17 Jun 2009 13:19:00 GMT

Committed, Creative, Visionary

These are words to describe your Windermere Leadership. It is a time of challenge in our industry and in our country. Today is the day to stick together and to work as a team to create solutions. In our Windermere Family we are committed to each of you and your business. You can count on Windermere to lead you and the community.

Remarkable, Inspired and Principled

Shirley Brass:

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

Steven Carns:

"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."

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."

Ed Haendel:

"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."

Helene Moore:

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.

Windermere Real Estate is committed to each of you and to our Truth's and Vision. 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. It is our expectation, vision and goal to always be the leader and provide the most up to date technology and marketing solutions. All of this while serving the community.

Windermere Real Estate has grown from a small office in Green Valley of fourteen agents to over two hundred agents in five years. More importantly our growth has been focused not on numbers of agents, but on the most respected and professional agents in the community. In other words, this is a company based on Quality people not just numbers. You won't see Windermere trying to get the most number of agents. 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.

We are inspired to keep striving to provide you with the absolute best resources. We are committed to you and ask for your commitment to us. By being engaged with us you are ensuring your success.

What You Should Know If You're Considering
Making a Change to a New Brokerage

Click Here

To lead the field in our industry today takes specific tools
in your toolbox that are unique and exclusive!

Platinum Web site

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.

Unsurpassed Built-in lead generation - Multiple reasons for visitors to contact you, with calls to action. You are always the primary contact!

Click Here for Platinum Website Brochure

Mobile Agent

The exclusive Windermere tool, the evolution in real estate information access is here with Mobile Agent, the industry's first consumer mobile search tool for real estate. Mobile Agent takes home searching to the next level. It allows the consumer to go mobile and puts the agent in their hand.

Click Here for Mobile Agent Brochure

Internet Concierge Program

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!

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. Syndication gives you an advantage that is clear to sellers, encouraging them to list with you.

Click Here for Internet Concierge Brochure

Relocation Department

Leading Real Estate Companies of the World® 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.

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.

On Site Builder Relationships

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.

Windermere Quarterly Event June 23rd at

Red Rock Country Club: "Unraveling the Mysterys"

Key Note Speaker

Michael Fanning
Windermere Services Seattle

Click Here for the Unraveling the Mysterys Flyer

As we continue to lead in Technology & 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. (Click on any of the Leadership names below for their profile)

Stephen Redman & Di Redman

Dennis Yates & Robyn Yates

Jeff Brick

Veronica Richards

Deb Shields

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, Windermere.com, 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.

Permalink | Comments

Las Vegas - Obama Signs Measures to Help with Troubled Mortgages

Robyn Yates — Wed, 27 May 2009 22:11:00 GMT

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 ï¿½underwaterï¿½ loans that so far has helped few distressed borrowers. 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.

ï¿½I believe weï¿½re moving in the right direction, but I want to remind everybody that it took many years and many failures to get us here, and itï¿½s going to take some time to get us out,ï¿½ Obama said. ï¿½The stock market will rise and fall. The job market has taken a beating and wonï¿½t be back immediately. The housing market still has a long way to go. But Iï¿½m confident we will get there.ï¿½ As the details of the measure are released I will keep you informed to what this means for Nevadans

Permalink | Comments

Hey Las Vegas & Henderson Residents… Installing energy-saving technologies is a great way to save money!

Robyn Yates — Tue, 10 Feb 2009 15:45:00 GMT

The days of undertaking quick-fix remodels to sell a home more quickly and for more money are long gone. Now, with loans hard to come by and home sales slow, remodeling is all about projects that save you money in the long term and pay you cash up front.

Believe it or not, the federal government is more than willing to help--to the tune of thousands in tax credits. But this isn't about redoing your kitchen; it's about energy independence. To help keep people in their mortgages rather than letting a home go, many legislators--including House Financial Services Chairman Barney Frank and the National Association of Realtors--have floated the idea of mortgage-rate buy-downs as an attempt to keep people in their homes and encourage home buying while helping curb our buildings effects on Climate Change.

One possible suggestion is to combine the two ideas of energy savings and tax incentives: Allow government assisted mortgage-rate buy-downs, if homeowners improve their energy efficiency by 75%. Homeowners would get the benefit of a lower home payment and a tax deduction to boot and the targeted government money becomes directly invested into sustainable green projects that could spur our economy and help address our climate crisis. It would incentive homeowners to invest money into improving the efficiency of their home for tax credit. And what could be better than the combination of lower mortgage payments and smaller energy costs; especially when you throw in a few thousand dollars from Uncle Sam. Now there's a green idea!

Permalink | Comments

Las Vegas Existing-Home Sales Show Strong Gains In December

Robyn Yates — Wed, 28 Jan 2009 16:27:00 GMT

Existing-home sales rose unexpectedly while inventory declined due to a surge of sales in the West. Existing-home sales (including single-family, town homes, condominiums and co-ops) jumped 6.5 percent to a seasonally adjusted annual rate1 of 4.74 million units in December from a downwardly revised pace of 4.45 million units in November. For all of 2008 there were 4,912,000 existing-home sales, which was 13.1 percent below the 5,652,000 transactions recorded in 2007. This is the lowest volume since 1997 when there were 4,371,000 sales. It appear some buyers are taking advantage of much lower home prices. The higher monthly sales gain and falling inventory are steps in the right direction, but the market is still far from normal balanced conditions. Buyers will continue to have an edge over sellers for the foreseeable future. With historically low mortgage interest rates, flexible sellers, a large inventory, and homes that are selling for less than replacement construction costs in much of the country, buyers who have been on the fence should take a closer look at today’s market.

Geithner Says “Range of Options” Considered for Bank:

U.S. Treasury Secretary Timothy Geithner said the department is considering a range of options for its financial rescue plan, with the goal of preserving the private banking system. “We are putting together what we hope will be a comprehensive plan for helping repair the financial system and bring recovery as a critical component to the president’s commitment to get growth going again and bring the economy back on track,” Geithner said. Under pressure from lawmakers and taxpayers, upset that the rescue plan shows few signs of lifting the economy, the Obama administration plans to overhaul the effort. In its rescue efforts so far, the Treasury has taken ownership stakes in more than 300 banks as a condition of receiving aid. Today Geithner said the Treasury will post contracts with TARP participants on the department’s Web site within days after deals are done. “That will give the American public a chance to see those, to look at the detailed terms and conditions, in a relatively short time period after they’re concluded,” Geithner said.

Fed Leaves Rate near Zero:

The Federal Reserve kept its key interest rate near 0% Wednesday, and said it is prepared to take additional steps to try to fix the troubled U.S. economy and credit markets. The Fed said it stands ready to purchase longer-term Treasury’s if it determines that such a move will help get credit flowing once again. This may help lower the yield on the government bonds and further lower the rates on various types of loans tied to Treasury. While the Fed said there had been improvement in some financial markets, it is concerned that credit remains tight. The Fed also warned of a decline in prices that could further slow economic activity, a condition that is generally known as deflation. Deflation often prompts businesses to further cut production and consumers to delay purchases because they anticipate lower prices to come. Economists warn that deflation can have a more destructive impact on the economy than inflation. The deflationary threat is really the bottom line, and the Fed wants to do everything they can to minimize the risk.

Robyn Yates's Blog

Windermere Real Estate to Donate $25,000 to Hopelink

FORECLOSURE VS SHORT SALES

HOME AFFORDABLE FORECLOSURE ALTERNATIVES (HAFA)

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.

Short Sale approvals by banks increase dramatically while foreclosures slide

Take Back your Power!

SHORT SALES - WHAT EVERYONE NEEDS TO KNOW

Prudential California CEO... Joins Windermere as New President

A Special Message From Robyn Yates

Las Vegas - Obama Signs Measures to Help with Troubled Mortgages

Hey Las Vegas & Henderson Residents… Installing energy-saving technologies is a great way to save money!

Las Vegas Existing-Home Sales Show Strong Gains In December

Short Sale Myths and Facts