Alright here we go.. Are you have a problem selling your properties??? Or are you trying to find new buyers or even have Realtor/Brokers.. ??? Are you interested ?? Do I have your attention now??
- GRASSROOTS!!!
See the key to your true success and your future is YOU!!
I recent had a OPEN HOUSE .. And I used Grassroots marketing . Which we took flyers and went to the neighborhoods around the property the day before and pass out about 500 flyers . Let them know " Free Food and Drinks" and oh yeah " Open House" which you highlight the basics of the home. And then
then ...
...
.... ....
when the day comes get ready for the flood. Tell you the truth we had 20 people come through the property. And yes know the property is under contract ready to be sold.
So the moral of the story is this .. if you have NO MONEY, NO MARKETING SENSE, NO MIND..?? Great .. All you need is to learn how to make black and white copies. And walk..
That is it.. See try what I'm saying and I promise you will have at least one new buyer each open house and grassroots campaign you do..
The Governor of Arizona just signed into law a new rule that will affect real estate investors.
Laws, rules and guidelines are constantly changing as it relates to foreclosures, short sales and home loan modifications. Arizona in particular now has an action to recover the balance after sale or foreclosure on property under a trust deed. How many other states will follow suit? In a state that had a solid “purchase money” rule, where the lender couldn’t pursue you for a deficiency judgment if you still had the original indebtedness on your mortgage has now changed that law and is saying that if you have not lived in a residence for at least six CONSECUTIVE months in, the lender can pursue you for a deficiency judgment.
You may ask, what does this mean exactly? Well it means that people who own investment properties that are upside down and have “negative equity” who’ve been hit hard by the ailing housing market, simply have to weather the storm until the market returns or possibly face a hefty deficiency judgment. The effect of this law is going to be staggering. One, it may now stave off people looking to buy investment properties in Arizona. Two, it will cause an enormous wave of bankruptcies to extinguish these judgments. Three, it may cause other states with anti-deficiency laws to join in, siding with the banks to strip real estate investors of their every last penny.
You may say, well the investors took the risk and shouldn’t be able to just walk away from these properties. However, this anti-deficiency law was in place to protect the real estate investor and keep the banks from lending irresponsibly. Now, after lenders acted irresponsibly, to change the law in their favor is a slap in the face and simply betrayal to the investor.
Here is a section of the bill
33-814. Action to recover balance after sale or foreclosure on
property under trust deed
A. Except as provided in subsections F and G of this section, within
ninety days after the date of sale of trust property under a trust deed
pursuant to section 33-807, an action may be maintained to recover a
deficiency judgment against any person directly, indirectly or contingently
liable on the contract for which the trust deed was given as security
including any guarantor of or surety for the contract and any partner of a
trustor or other obligor which is a partnership. In any such action against
such a person, the deficiency judgment shall be for an amount equal to the
sum of the total amount owed the beneficiary as of the date of the sale, as
determined by the court less the fair market value of the trust property on
the date of the sale as determined by the court or the sale price at the
trustee’s sale, whichever is higher.
Also
G. If trust property of two and one-half acres or less which is
limited to and utilized for either a single one-family or a single two-family
dwelling BY THE TRUSTOR UNDER THE DEED OF TRUST FOR AT LEAST SIX CONSECUTIVE
MONTHS AND FOR WHICH A CERTIFICATE OF OCCUPANCY HAS BEEN ISSUED is sold
pursuant to the trustee’s power of sale, no action may be maintained to
recover any difference between the amount obtained by sale and the amount of
the indebtedness and any interest, costs and expenses. THE TRUSTOR IS
RESPONSIBLE FOR DEMONSTRATING THAT THE TRUST PROPERTY WAS USED BY THE TRUSTOR
AS A ONE-FAMILY OR A SINGLE TWO-FAMILY DWELLING FOR AT LEAST SIX CONSECUTIVE
MONTHS.
Deficiency Judgments
Although deficiency judgments are rare on 1st trust deeds, 2nd trust deed lenders are beginning to file their law suits. Some of the law suits being filed are unlawful and should be fought and defended. Speaking with an attorney associate of mine, he said “Lenders will just send a bunch of cases to a law firm for them to pursue deficiency judgments and they won’t even look at the type of loan it is or if they even have the “right” to enforce a judgment. If no one objects or fights the suit, the lender may just get their judgment and the homeowner could have avoided it.” This happens all the time with credit card collection types of judgments and it’s now starting to happen with 2nd liens.
Conclusion
Banks and Lenders continue to get bailed out and rescued in spite of their bad decisions because it’s what’s “best” for our economy…or is it? Homeowners on the other hand seem to be getting thrown under the bus for making a bad decision.
On 26 of Jul 09, I was on the MJ Morning Show. why?? Because in the year 2000 in Seoul, Korea. I actually meet and talked with Micheal Jackson. Yes the Real Micheal Jackson(King of POP).. I was one of threeUS Army soldiers to meet with him personally. It was quite a crazy experience... So click below to listen to the entire segment.
CLICK HERE FOR AUDIO: (I AM ON THE LAST 3MINS OF THE SHOW) so Scroll till the end...
(Reuters) - Two U.S. Democratic lawmakers want Fannie Mae and Freddie Mac to relax recently tightened standards for mortgages on new condominiums, saying they could threaten the viability of some developments and slow the housing-market recovery, the Wall Street Journal said.
In March, Fannie Mae (FNM.N)(FNM.P) said it would no longer guarantee mortgages on condos in buildings where fewer than 70 percent of the units have been sold, up from 51 percent, the paper said. Freddie Mac (FRE.P)(FRE.N) is due to implement similar policies next month, the paper said.
In a letter to the CEO's of both companies, Representatives Barney Frank, the chairman of the House Financial Services Committee, and Anthony Weiner warned that a 70 percent sales threshold "may be too onerous" and could lead condo buyers to shun new developments, according to the paper.
The legislators asked the companies to "make appropriate adjustments" to their underwriting standards for condos, the paper added.
In an interview with the paper, Weiner said the rules have "had a real chill on the ability to get these condos sold," at a time when prices of condos have fallen enough to attract potential buyers.
In addition to the 70 percent sales threshold, Fannie Mae will also not purchase mortgages in buildings where 15 percent of owners are delinquent on condo association dues or where one owner has more than 10 percent of units, as the firm sees these as signals that a building could run into financial trouble, the paper added.
Both Fannie and Freddie are preparing a response to the lawmakers, according to the paper.
Fannie Mae and Freddie Mac could not be immediately reached for comment by Reuters.
Hello from the Cruz Family live from Festival of Speed.. 2009
What a great experience... I highly recommend to make time out and go see these beautiful piece of art.. All of the vehicles seen at the Festival of Speed were absolutely beautiful and one of kind..
check out below:
Million Dollar Bugatti Convertible Rolls Royce Lambo Lambo Fastest Car in the World currently SSC Aero... "this wasn't even in the car show, but in the parking lot across the street "hiding"... too funny someone will hide this beast of a vehicle..
Andrew first ever boat trip... He had such a great time .. But, in order for us to even get the boat off and going see had to literally pick up the boat and push it out the ocean.. See pics below:
Can you believe 4 dolphins followed us ... WOW
Us pushing ..
Me saving Rafeal from following in the water.. Where there was a ton of Razor sharp Oyster shells.. Which we did get cut, but we had a great time after the blood was cleaned up... y
At this Event it was a great success. We had four AWESOME speakers that were the following:
Mark Wilson: " Real Estate Investment 101" Frank Briguadura " Why Entrepreneurship" Franklin Cruz " Goal Setting" Sheryl Nicholson " Call To Action"
Corey Donahue Co- Founder of the IntheTrenchesSeminars.com and Myself had a great time. Here our some pics of what happen..
And the bus we took to the event was due for some minor repairs. Huge Repairs look what happen. The Transmission Blow up and were stuck in Lakeland for over 5 hours!!! But, time flew we actually had a great time. CHECK OUT THE PICS BELOW:
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