Jan O'Brien - Real Estate Coach

Learn about HAFA - Short Sale Advice - Webinar April 7

Short sales and the HAFA program (Home Affordable Foreclosure Alternative) are getting attention in the media as we approach the program's start date of April 5, 2010.  Las Vegas broker-manager, Kathryn Bovard was recently interviewed by the Wall Street Journal and the article was just published today.  Kathryn blogs at ResidentialShortSale.com

Here's an excerpt.. read the entire article: New Program to Speed 'Short' Sales.

Lenders “have finally gotten on board with the fact that short sales will be a large part of the market over the next 24 to 36 months,” says Ms. Bovard.

While the popularity of short sales differs by market, in the Las Vegas brokerage that Ms. Bovard runs, 70% of pending sales are now short sales, she says.

For homeowners considering a short sale, Ms. Bovard says it’s important they speak to their trusted advisers, including their attorney and tax accountant, as well as a real-estate agent who has a short-sale designation.

For buyers, a lot of patience is required to finish one of these deals, says Ms. Bovard. “It’s a long, involved process. But the payoff is getting a tremendous value.”

 

Learn more about the HAFA program and it's potential impact on the short sale market.

Steven Kitnick, Attorney Robert Noggle and I will be presenting a Webinar sponsored by OnlineEd:

             Understanding the Home Affordable Foreclosure Alternatives:            
 HAFA Guidelines and the Impact on Your Short Sale Business

 

Wednesday, April 7^th 10am-11am PST

This webinar will cover:

• Why it is important for real estate professionals to understand the guidelines?   
• HAFA’s potential impact on the short sale market
• Who is eligible for the program?
• What loan servicers are participating
• An overview of the process, paperwork, and timeframes
• Benefits including incentives to borrowers and servicers; commission protection, release and full satisfaction for borrowers from future liability
• Potential pitfalls and a few unknowns regarding 2^nd liens, possible mortgage payments, and sharing of the commission with 3rd party vendors

Don't Miss this Important Webinar - Only $9.95!  Register NOW !

Blogging, Facebook, LinkedIn & Twitter Training - May 7th, 9am to Noon

Blogging & Social Networking for Business

Approved by the Nevada Real Estate Commission

3 Hours Continuing Education (PD) CE.3706000-RE

Friday, May 7th 9:00 am to 12:00 pm

Mountain View Mortgage Building

(215 – between S. Buffalo and S. Durango – off W. Sunset)
Not on Mapquest -Download a Map when you Register

$30 in advance; $40 at the door

Register online at http://business-blog-consultant.com/register/

Instructors: Jan O’Brien 858-9191

Kathryn Bovard 348-7191

Three hour (CE Approved) training seminar covering…

• The anatomy of a blog – understand all the components
• 6 Questions to Consider before Launching a Blog
• Learn the 15 Top Tips for A Successful Blog
• How to generate leads using a blog and other social media
• Learn how to leverage FACEBOOK, TWITTER, and LINKEDIN

Bonus Materials: Receive a copy of:

• Wordpress.com Tutorial ($20 value) A step-by-step guide to launch your blog
• Real Estate Agents Internet Resource Guide ($10 value) A comprehensive guide to online Listing Tools, Blogging and other Web 2.0 services, tools and technologies

Register & reserve your seat online:
http://business-blog-consultant.com/register/

Download BlogClassFlyerMay2010

2009 Best Blog Posts & Resources on Social Media Marketing, SEO, Social Networks

Tamar Weinberg of Techipedia compiled an unbelievably comprehensive and well-researched “Best of 2009″ summary of the best blog posts on social media, social networks, reputation management, branding, seo and more. This post is a must bookmark for reference and reading.

Best Internet Marketing Posts of 2009

Attention Las Vegas Real Estate Agents & Business Professionals!

Don't miss the Blogging & Social Networking for Business Workshop

Next Class Date: Friday, February 12, 2010, 1:00 to 4:00 pm
Download the class flyer:  Blog Class Flyer Feb 12, 2010

Location: Robb & Stucky Community Room, (Town Square Las Vegas • At I-15 and the 215 Beltway )

Address: 6521 Las Vegas Boulevard South, Las Vegas, NV 89119
View Mapquest

Approved by the Nevada Real Estate Commission

3 Hours Continuing Education (PD) CE.3706000-RE

$45 in advance; $55 at the door
Register online at: http://business-blog-consultant.com/register/

Best Content Ideas for Real Estate Bloggers

Are you considering starting a blog in 2010 for your Real Estate Business?  Or maybe you have a blog and need a little inspiration, some new ideas to spark your writing. 

Researched and served up from me to you - Your Real Estate Coach - some of the best posts I've found on blog content ideas for real estate bloggers:

• Chris Brogan - If I were a Realtor  Read this right-to-the-point post as well as the comments. Its about connecting with the community, being a local source about your area.  It's not about you and selling.

• NikNik (My Tech Opinion) -  30 Blog Post Ideas To Keep Your Content On A Roll

Print this post out for great ideas and keep it with you. Use this list and the next one from the Real Estate Tomato to start your Blog Post Idea Notebook.  Carry this notebook around with you.  When you get ideas, ad them to the list.  If you pay attention, you will become aware of things to blog about daily. 

I absolutely agree with and recommend NikNik's technique - I keep a blog notebook, sorted by my different blogs/topics and schedule time in my calendar to blog.

I’ve found the best way to maintain regular blog posts and fight “blogger’s block” is by creating a content posting plan. This is really nothing more than making an on-going list of content or story ideas from which you can pick and choose to create posts from. If you want to take it a step further, you could schedule time to write, as well as “read & research”.

• Teresa Boardman - Real Estate Tomato - Food for Fodder - 101 Real Estate Blog Topics 
  

...the trick is to take every day experiences, based on these topics and weave them into a post.

Teresa is an excellent blogger who has mastered the art of blending photos, real estate and community in her St Paul Real Estate Blog. 

And two more good posts fom the RE Tomato:

• 7 Crucial Tips To Developing Real Estate Blog Copy That Gets Read
• 9 Examples Of How Blogging Will Have You Overcoming Real Estate Objections

Recommended  marketing, tech, social media blogs for the Real Estate Industry to bookmark, subscribe to and READ...

• My Tech Opinion
• Real Estate Tomato
• Transparent Real Estate
• Geek Estate
• Future of Real Estate Marketing
  
  

Blog & Social Media Training Class

Kathryn Bovard and I are teaching our 3 Hour Nevada CE class "Blogging & Social Networking for Business" on Friday, February 12, 2010.

Approved by the Nevada Real Estate Commission

3 Hours Continuing Education (PD) CE.3706000-RE

Next Class Date: Friday, February 12, 2010, 1:00 to 4:00 pm
Download the class flyer:  Blog Class Flyer Feb 12, 2010

Location: Robb & Stucky Community Room, (Town Square Las Vegas • At I-15 and the 215 Beltway )

Address: 6521 Las Vegas Boulevard South, Las Vegas, NV 89119
View Mapquest

$45 in advance; $55 at the door
Register online at: http://business-blog-consultant.com/register/

FREE Virtual RE BarCamp is 1-4-10; Social Media & Tech All Day Mega-Webinar

I attended the first amazing REBarcamp in San Francisco, August 2008 - held prior to the Inman Connect.  REBarcamp is now Virtual and still FREE and it's TOMORROW - January 4, 2010.

If you want to seriously get a jump start on how to integrate Social Media into your Real Estate Business --- sign up now!

Educating Real Estate Agents On How To Use Modern Technologies To Better Their Business Will Never Be The Same!

On January 4th, 2010 dozens of the most respected educators in the real estate industry converge to host most exciting event of its kind, the Virtual Real Estate BarCamp.

Virtual Real Estate BarCamp is a 1-Day Learning Extravaganza.
From 9am until 4pm PST, three concurrent webinar "rooms" will each host 7 different sessions, for a total of 28 different presentations.
There is something for everyone and everything for someone, and best of all, IT IS FREE and attendance is unlimited!

Click below to:
Register.
Learn more.
See who is coming.
Check out the Session Calendar.
Get sponsorship info.

Attendance is projected to be at least 1000 agents, nationwide.
Do not miss out on being part of this ground-breaking event.

Potential Session Topics Include:

Facebook for Real Estate
Twitter 101
Driving Quality Traffic to Your Website
Beginning Search Engine Optimization
Advanced SEO
Getting Started with WordPress
Advanced WordPress Techniques
Using Flickr for Real Estate
Using YouTube for Real Estate
LinkedIn Business & Referral Strategies
Selecting an IDX Company
Single Property Websites
Getting the Most Out Of Your Mobile Devices
The iPhone and Real Estate
Photoshop for Real Estate
Video Blogging
Video Listings
Advanced Twitter Tips
Preparing to Start a Real Estate Blog
Google Analytics and Traffic Statistics

...and much more, with new sessions being added every day.

And if that wasn't cool enough, individuals from around the country are volunteering to host In-Real-Life MeetUps for after the event.
Learn all day, and then meet to have a beer with local participants. This is going to be a blast!

We hope to see you there!

Understanding Alternatives to Foreclosure... Updates on Loan Modifications under HAMP and the new HAFA guidelines

Real Estate Professionals... are you staying informed and updated on the developments and guidelines regarding all alternatives to foreclosures in order to assist homeowners?

My recommended approach to serving your clients who are dealing with their own housing crisis and/or economic downturn is to be the conduit of information.   Provide options and possible solutions as well as recommendations to other experts and professionals to help each individual make their best decision.

One of your initial qualifying questions is to ask the homeowner... "Do you want to keep/stay in your home?"

If the answer is yes, then consider recommending that the client...

• Contact their loan servicer to see if they qualify for a loan modification under HAMP or another program
• Visit the www.MakingHomeAffordable.gov website to learn more about HAMP (Home Affordable Modification Program)
• Learn about their rights under the new Nevada legislation concerning the Nevada Foreclosure Mediation program (http://www.nevadajudiciary.us/index.php/foreclosuremediation)

If your client is unable to get loan modification, then a short sale may be an option for them.  I encourage you to get educated on the short sale process if you haven't already done so.  Steve Kitnick and I teach the CSP (Certified Short-Sale Professional) designation course in Las Vegas at least monthly.  You can check the schedule and register for an upcoming course right here on this blog or at Steve's site:  NevadaCE.com.

Here are some more resources, recent articles and news regarding Short Sales & Loan Modifications:

A link to an article on the new Treasury Guidelines for Short Sales (HAFA):
Treasury Releases Guidance for Making Home Affordable Short Sales

Great news...read all the details...download the official supplement from the Treasury...Not so good news..

Not effective until April 5, 2010. Unless participating servicers want to opt in early!

MakingHomeAffordable.gov website is a MUST read/review. It's loaded with all the information regarding loan mods under the HAMP program.... Who is eligible, Is the Loan with Fannie or Freddie, How to request the Loan Mod, etc.

Did you know?......(from the site):
A wide array of servicers have agreed to participate in the Home Affordable Modification program and have already engaged borrowers and expanded capacity to begin the modification process for eligible homeowners. In addition, all servicers for loans owned by Fannie Mae and Freddie Mac are required to participate.  The following is a list of servicers who have formalized their commitment to the program through a signed contract:

Search for Your Mortgage Servicer: show all servicers

Other recent articles of interest:
Quarter of HAMP Mods in Default Again
Industry's Mortgage Workouts Exceed Completed Foreclosures, HOPE NO...
Bank of America: 2/3 of Borrowers May Lose Government Mods  ....of the 65 thousand trial modifications set to expire Dec. 31st with B of A, a full two thirds of the borrowers, while current on their payments, have not submitted the full documentation required to turn a trial mod permanent under the HAMP guidelines.

I highly recommend subscribing to...

• DailyDose email from DSNews.com.
• Calculated Risk blog
• Bubble Meter blog
• Dr. Housing Bubble

Short Sales vs. Foreclosures in Nevada - Answers to Common Questions

Become a Certified Short-Sale Professional (CSP) AND receive 8 hrs of Continuing Education credits. 

Last course for 2009:

Friday, December 18th  - 9:00am-5:30pm ~ Doors Open 8:30
Realty Executives 1903 S. Jones Blvd., #100, LV, NV 89146 (N of Sahara Ave.)  MAP

REGISTER NOW for the December 18th Course - Tuition $299

Here is a preview of one of the many topics covered in this full day certification course.  This post compares short sales and foreclosures in the areas of tax consequences, credit impact, and deficiency judgments.

What is a Short Sale?

• A Short Sale is when the home sold for less than the debt against the property and the lender(s) agree to accept a discounted payoff.  The lender agrees to accept less than what is actually owed on the mortgage.
  
• A Foreclosure is when the lender seizes the home that the loan is secured by through the foreclosure process, which is notice of acceleration of note, notice of default, notice of sale, and then actual forced sale of the home known as a ‘trustee sale.’

What are the tax consequences?

• Short Sale & Foreclosure….all debt forgiven results in 1099C debt.  Whether it is a primary or rental property makes a difference as to how much tax you may pay.  Simply stated, if you get released from debt the IRS sees that as income to you, just like you got a pay check.  See this publication from the IRS http://www.irs.gov/pub/irs-pdf/p4681.pdf on “Canceled Debts Foreclosures Repossessions and Abandonments.”
• You may qualify for an exemption under the Mortgage Forgiveness Debt Relief Act - visit this IRS article for more information: http://www.irs.gov/individuals/article/0,,id=179414,00.html
  

What are the Credit Issues?

• Foreclosures and Short Sales will appear on your credit history and affect you for up to 10 years.  This may affect a.) employment or b.) security clearance, etc.  Rumor is that a short sale is better than foreclosure for these items?  There is no evidence to back this up.  Arguments on both sides are out there.  We do know that there is a specific spot on the credit reports for foreclosure, whereas short sales are reported differently.  We have also seen examples of the credit score being impacted based on the total number of missed payments. 
  

What is the liability for the Debt AFTER the foreclosure or short sale?

6 Months

• Foreclosure – The foreclosing lender has the right to sue the home owner after the foreclosure for the difference between the amount gained at the ‘trustee sale’ discussed above and the balance of debt owed.  The lender has only 180 days (six months) from trustee sale to file, after that the owner is no longer liable.
  

6 Years

• Foreclosure 2^nd Deeds – All deeds that are junior to the foreclosing lender have different rights than the foreclosing bank.  These lenders are called ‘sold off junior lien holders’ and they have six (6) years to recoup their debt.  That means you get foreclosed on November 12, 2009, these junior lien holders have until November 12, 2015 to sue you. 
  

Short Sale - All lenders that agree to a discounted payoff and ‘release the lien’ from the property to allow the short sale are no longer ‘secured lenders’ and are now ‘sold off junior lien holders’ as described above and have six (6) years to sue you.  UNLESS, the short sale is negotiated so the lender releases the homeowner from any future liability as to the forgiven debt.  Many lenders are taking a hard stance on this issue and NOT fully releasing and satisfying the forgiven debt. 

Attention Entrepreneurs...Are You Ready for 2010? Free Workshop Introducing the Business Flight Plan

Introducing the BUSINESS FLIGHT PLAN

FREE INTERACTIVE WORKSHOP & NETWORKING EVENT

Presented by: MINDSET DYNAMICS, LLC of Las Vegas – “Coach, Train, Win”

Wednesday, December 16, 2009, 4:00 PM – 6:00 PM

MANAGERS/ BUSINESS OWNERS/ENTREPRENEURS

• The 5 Phases of The Business Flight Plan – How to Run Your Business Like a Business”
• Know Yourself, Your Staff & Your Clients
• Select, Retain and Develop with the Winslow Report
• Advanced Goal-Setting and Business Plan for 2010  
• How to Trust Your Business and Personal Advisors
• Build Your Business Using SOCIAL MEDIA

TOWN SQUARE CONFERENCE ROOM
6671 LAS VEGAS BLVD, STE 300, LAS VEGAS, NV 89119

Download Map - View this map


Sponsored by: THE LAW OFFICES OF BLACK & LOBELLO and CLEAR WIRE

LIMITED SEATING AVAILABLE

Contact:
Lynn Gage, 702-994-4644, mindsetworkshop@gmail.com
OR REGISTER ONLINE   

Networking will continue at Cadillac Ranch after event - 6 pm till ??

Business Blog & Social Media Class - Nov 13 - Last CE Class for 2009!

Blogging & Social Networking for Business Class

Are you ready to embrace and adapt to the Social Media phenomenon for your business?

Don't miss the last class of 2009!

Approved by the Nevada Real Estate Commission

3 Hours Continuing Education (PD) CE.3706000-RE

Friday, November 13th, 1:00-4:00 pm

Mountain View Mortgage Training Room

215 & Durango (Sunset to Butler to Building)

Click here for a MAP - Street Address not on Mapquest

$45 in advance; $55 at the door
Register online at : http://careerrealty.com/contact_training.htm

Instructors: Jan O’Brien, 858-9191 and Kathryn Bovard, 348-7191
             
Three hour (CE Approved) training seminar covering…

• What is a Blog? Who Is Blogging? Why should You Blog?
• The anatomy of a blog – understand all the components and how a blog differs from a conventional website
• 6 Questions to Consider before Launching a Blog
• Learn the 15 Top Tips for A Successful Blog
• How to generate leads using a blog and other social media
• How does Web 2.0/social networking impact the real estate industry?
• Learn how to use FACEBOOK, TWITTER, ACTIVE RAIN and LINKEDIN to optimize and drive traffic to your blog!

Bonus Materials - Receive a copy of:

• Wordpress.com Tutorial ($20 value) A step-by-step guide to launch your FREE blog
• Real Estate Agents Internet Resource Guide ($10 value) A comprehensive guide to online Listing Tools, Blogging and other Web 2.0 services, tools and technologies

Register & reserve your seat online now!

Answers to Common Short Sale Questions - Real Estate Trends 2010 in Las Vegas

Darren Welsh, General Counsel for Prudential Americana Group, REALTORS will be one of the panelists at the upcoming REAL ESTATE TRENDS 2010 & Short Sale Market Update on November 5, 2009.

This all-day, special event is packed with updates and answers regarding the current short sale market.  We also have Stefan Swanepoel delivering two powerful keynote addresses. 

Special 2 for 1 pricing - $99 buys two tickets!  Click here for all the details.

Darren has an excellent real estate legal blog at: http://ameglegal.wordpress.com/

Here are links to a series of posts regarding short sales:

TGIF Legal Tip: Short Sale Release Language

7 recent tips  

Demand to Close  

NV Mediation Program and How it Affects Shortsale  

Short sales When Seller Files BK

Click the following for:

IRS publication on how 1099 taxes are calculated, exempt, etc.  

IRS explanation as to taxes resulting from Foreclosure and Debt Cancellation.

Deficiency EXPLANATION

 Taxes EXPLANATION Personal Residence

 One Action Rule EXPLANATION

And for a little comic relief ... check out this video parodying the REO/Short Sale real estate market: