Christopher McClatchey

As we celebrate with our family and friends today, may we take a few minutes to remember the reason we are here to celebrate. May we remember all of those who gave their lives to this great country and those who continue to serve today. Thank you to all and Happy Memorial Day!

Chris McClatchey

Housing Market Realty

Brevard County, Florida

Another unbelieveable bank story : An agent in my office of Housing Market Realty in Brevard County, Florida had an unbelieveable situation with a short sale listing.

The listing is a direct Indian River Front Condo, in Port St. John, Florida. The condo has been on the market for over a year with multiple offers having been presented to the bank and subsequently turned down. The offers were around the $125,000.00 range. Believe it or not, that is approximately what they are currently selling for.

The latest offer was $118,000.00. This offer came from an agent from a different Brokerage. The Buyers are well qualified and are really interested in the property. The bank has had this offer for over 3 months. Neither our agent nor the title company can get in touch with the loss mitigator. The Foreclosure sale has already been postpoed once to allow for this offer to be presented. The foreclosure sale has been rescheduled in a couple of weeks.

Last week, because of the lack of communication from the loss mitigator, our agent, our client and the title company have basically given up hope that the short-sale would occur before the sale date. In fact, the title company sent an agressive email to the short sale department for their lack of communication on the matter.

I know, this is the same story happening around the country. So you ask why is this different. It is different because on Friday, A DIFFERENT DEPARTMENT AT THE AT THE BANK, sent our client a letter that they would accept a payoff amount of $94,500.00. Thats right, if he refinances or sells the property, they will sign a full and final release and satisfaction for $94,500.00. That's $24,500 less than a pending offer on the property.

If that's not enough, they WILL NOT seek a deficiency judgment against him or 1099 him for the difference. He owed over $190,000 on the property. I just can't understand what these banks are thinking. If they would only work their files and communicate with the agents AND other departments, they would save so much money. Is it any wonder that these financial institutions are going bankrupt.

I would love to hear any horror stories you may have regarding these financial institutions.

-Chris McClatchey

Housing Market Realty

In an effort to promote a more "green" awareness for our industry, Housing Market Realty in Cocoa, Florida has tried to make a statement to its clients and colleagues. Although we have tried to do a number of things to become more green, we are seeking advice on additional ways to be more environmentally friendly. Here are some of the ways we are becoming more green. Please use these ways and advise on some other ways if you could.

1. We are a "Cell Phone for Soldiers" drop off point. - These are old cell phones that get re-used by our troops

2. We are virtually paperless. We are using a scanner for almost all copier like functions. We are using digital copies instead of faxed copies.

3. One of our owners drives his vintage mercedes on donated Vegtable Oil. (Really popluar around Thanksgiving and Christmas) http://www.news-press.com/article/20081128/NEWS01/81128010/1075

4. One of our owners drives a Toyota Hybrid

5. One of our agents drives an electric car.

6. We seperate out recycleable material from our foreclosure rehabs and listings

7. We use paint from the County Dump in painting some of our rehabs and listings.

8. We sometimes conduct office conference calls rather than meeting at the office all of the time.

Again, we are trying to make a difference a little at a time. Any additional commments or suggestions would be greatly appreciated. If any of you would like to use our ideas, please feel free to do so as every little bit helps.

Chris Mcclatchey

Housing Market Realty

My investment company (THM Investments, LLC) just put a corporate owned property under contract. It is a 3 bd, 2 ba, 1300 sq. ft. block home is West Cocoa, Florida. The ARV (After Repair Value) on the property is between 90,000 and 100,000. We are looking for a loan, secured by a 1st mortgage, of $45,000.00. The rate and terms are negotiable but would be willing to pay 8-12% depending on the balloon period.

This would be great for someone's Self-Directed IRA or someone who is fed up with the Stock Market. If interested in more details, please feel free to contact me.

Also, if you are not interested in this particular deal, but would like us to keep you informed of other investment opportunities, such as joint ventures or % ownership, please feel free to contact me as well.

Chris McClatchey

THM Investments, LLC

321.632.9998

Housing Market Realty of Cocoa, Florida is preparing for its 2nd annual Billboard Sit-In Event this Spring. Last years event was an overwhelming success. Three (3) men, Chris McClatchey, Charles Fischer and Devin Lesnee lived on a billboard for 3 days while raising money for habitat for humanity. This money was committed to building affordable housing in the Cocoa, Florida area. This years event is expected to be expanded as the company has grown over the last year. If you would like to participate, sponsor or donate, please don't hesitate to contact us.