Foreclosure information from Realty Trac

I attended a webinar today given by Realty Trac.  I jotted down some very good information that I would like to share in this blog:

• Foreclosure activity may peak in 2011.  The levels continue to rise from the past three years.  REO inventories will stay at high levels through 2013.
• There is a massive "shadow inventory" that will slow down the housing market recovery.  There are about 1.0 REOs and 700,000 are not listed for sale.  1.2 million homes are currently in foreclosure.  Over 5 million loans are in some stage of delinquency.
• Distressed Properties are in High Demand.
• 60% of homebuyers are actively looking for foreclosure and bank-owned properties
• 25-30% of all residential home sales in 2010 were foreclosures or bank-owned homes.
• Nationwide, homebuyers saved an average of 30% when purchasing a foreclosure property.  Short sales averaged a 19% savings; REO sales averaged over 37% savings.

I am guessing that the reason why banks are slowly releasing their REO inventory is that they would not want to flood the market with foreclosures, thus, bringing the values of comparables even lower.  That's smart of the banks, to think of us.

Are you a buyer?  You are probably wondering where you can get a copy of this list.  I have 2 pages in my website that have these foreclosure list.  One is in the MLS or one is with RealtyTrac.  These are FREE to use.  You may also enter the area or zip code and a list of homes will be returned.  If you need further assistance, please give me a call.

I made someone's problem go away thru Short Sales

After my sellers signed the closing paperwork today, the husband (the seller) said the most touching words during my career in real estate.  He said (from what I recall) "Miss Pearl, we love our house very much from the time we bought it and moved in. But lately, this house has been a problem and YOU Miss Pearl made those problems go away.  We appreciate you very much in helping us get out of this problem."

The problem he was referring to, was his inability to pay his mortgage due to the decrease of his income.  I was able to short sale his home successfully, which made his problems go away.

I want you to know that if you are in a situation where you have missed a payment in your home, or close to missing a payment in your home, and you have a hardship, whether it be a divorce, illness, death of spouse, loss of job or decrease in salary, or other reasons, please call me as I may be able to help you.
All it takes is 15 minutes on the phone.  Call me at (512)786-7355.  I am a short sale specialist in Austin (Cedar Park, Manor, Kyle, Buda, Georgetown, Round Rock, Lakeway, Spicewood, Bee Caves, Pflugerville) and have completed many short sale transactions in the past 3 years.

February 2011 Real Estate in Austin

In Austin, TX, residential sales (units) for single family homes were down 4% in February compared to last February (2010).  The above charts were supplied by Alamo Title of Austin, TX.

January real estate in Austin lookin' good!

Alamo Title of Austin has graciously provided us, Realtors, with statistics monthly.  And we are very greatful for your efforts in informing us and the public regarding our real estate market.  It appears from the first picture that our sales in January 2011 for single family residential homes have been higher that the past 2 Januarys.  That is a 13% increase in units sold.  That is just awesome.  We are seeing more activity in our market center and ad calls. 

If you wish more information on our real estate, please give me a call today at (512)786-SELL/7355.

Keller Williams Family Reunion 2010

9,000 Realtors from Keller Williams attended the KW Conference held in Anaheim, California this year.  I was one of the attendees from Feb 19th to the 23rd.  Yeah, I got back to Austin, TX today.
During the conference, CEO, Mark Willis, announced that we now have 79,350 agents in US and Canada combined and are ranked second largest brokerage.
Here are some other notes I took, please be kind in case they are not accurate as I was scribbling these in the dark.
* Enterpreneuer Magazine ranked Keller Williams #1 Franchise in 2011
* Training Magazine listed Keller Williams #47 out of 125 companies across the industry (for best training of course)
* #13 Best Company to Work for in Texas in 2011.  They are relating to our Keller Williams International Company which is based in Austin, TX
* JD Power and Associates has given Keller Williams higest overall satisfaction for home buyers and rated full service real estate firm in 2008, 2009 and 2010 home buyer study
* NAR reports stated that real estate was down 4% in 2010 nationally BUT Keller Williams sales were up 6% in 2010!!!!

On Sunday, the 24th, 2,300 agents participated in the World's Guiness Book Record to break the most participants doing the Cha Cha Slide. The current record was only 250 people and we totally blew that away and received the plaque that evening from Guiness Book. I was also one of the attendees. Mark Willis, and Diana Kokoszka came to dance with us.  How cool was that?


I hope this tells you why I choose to work at Keller Williams Realty though I have received my Brokers License in 2010 and feel that I am capable of starting my own brokerage.  I work with the best.  Wouldn't you want to work with the best?
 
So if you are thinking of a career in real estate and want to know why Keller Williams is the place to join, please give me a call at (512)786-7355.  In the same token, if you are thinking of buying or selling real estate, please give me a call and I will be glad to share with you what I and Keller Williams can do for you.

2 short sales - happy endings

I wanted to share with you 2 families that I helped with short sales last December.  Both sellers had two different circumstances and I was able to successfully help them get out of foreclosure.  Both homes were scheduled to go to auction in January and I closed both deals in December.

One seller was going thru a divorce.  Yes, divorce is a hardship and having one person staying behind without the substantial income to pay the mortgage and expenses associated with the home is acceptable to the bank.  The other is a homeowner that had a decrease in income.  They did not lose jobs but their hours were lessened, hence, less income.  A decrease in income is a hardship. 

A successful short sale is a win/win for the seller, they are not going to foreclosure; a buyer, who is getting a good deal and is able to help a seller get out of foreclosure; and me, the listing agent who is able to negotiate a short sale with the seller's lender, and the buyers agent who gets a full commission.  Tell me why someone should not consider short sale?

If you are in a situation where you cannot pay your mortgage, please do call me so I can discuss with you your options.  It is a simple 15 minute consultation, that's all.  Please call me at (512)786-7355 today!

PJ's ODD REAL ESTATE JOKE - Short sale negotiators

Ok, I must be in my crazy creative mood because I came up with this one.  Actually, I am going to be attending the Keller Williams' Family Reunion in Anaheim today and was thinking of marketing materials to pass out while networking to other agents in the country.  Only way I could get people to keep and remember me is that if I passed out something out of the norm, besides a regular small business card.  So I came up with the following:  One postcard with each cartoon on each side. 

I would like you to remember this when you are choosing a Realtor to market your home.  Will your Realtor create a creative flier for the outside of your home?  Will your Realtor use a template flier?  How is your Realtor planning on marketing your home?  In today's market, you need a Realtor that will make your home stand out against the competition.  Hmm, maybe it's time we talked.