Debbie Clifton, Broker/Realtor/e-PRO-- Johnston, Harnett & Southern Wake Co

CNBC.com

Apparently about 70 percent of foreclosures in its database have not yet been listed on the MLS. I'm wondering why? Why are the banks sitting on all these properties instead of listing them for sale?

Okay, a couple of posibilities:

• The inventory of foreclosed properties has just exploded so rapidly and in such high volumes that the banks can't process it all as fast as they would like to.
• In a lot of cases it's taking longer to process the foreclosures themselves and the homes are getting trashed. Before the bank puts the house up for sale it has to do all the repair work, and now more repair work is needed.

Now here's a possibility that is a bit more disturbing. Rick Sharga of RealtyTrac says he can't get anyone to confirm it but he can't get anyone to deny it either:

"The lenders are simply trying to defer the losses to a later date, because having to recognize the losses short term might pose severe risks to the banks in question."

What does that mean? Well, when the properties are taken back by the bank at auction, they are often taken back for the value of the mortgage on the property. The bank puts in the bid for the value of the current mortgage and essentially pays itself back what it lost on the loan, and of course gets the house for all its trouble. In good times, the bank could profit by selling that house for more than the value of the loan, but not these days. The trouble now is just the opposite. On so many of these foreclosed homes, the property is actually worth far less than the mortgage on it. So the bank is taking it back at the mortgage value and not writing it down.

"Untold numbers of these properties sitting on banks accounting ledgers where the imputed value is considerably higher than the market value," says Sharga. And unfortunately nobody knows what that market number is.

Questions? Comments? RealtyCheck@cnbc.com

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Debbie Clifton/Coldwell Banker Advantage/Benson, North Carolina

I emailed one of my sellers a couple of days ago to let her know when the home inpsection was being done on her home. She and her husband are going to be moving into their new home the end of this month and her home is closing this month!! That worked out pretty well. She is a client that I felt a connection the first time we met. We both like interior decorating so I was "carried away" by the way she had decorated her home. It was one of those "dream" listings. It was always in perfect showing order! She and her husband have been wonderful to work with.

When she responded to my email at the bottom of her email just under her signature was......

HELP me walk 60 miles!!! Visit my website to SPONSOR me as I participate in the Susan G. Komen 3 Day Walk for Breast Cancer... http://www.the3day.org/site/TR/Walk/AtlantaEvent?px=2982701&pg=personal&fr_id=1291

"I CAN DO ALL THINGS THROUGH CHRIST WHO STRENGTHENS ME"
Phil. 4:13

I went on the website and checked it out. I felt a strong urge to pass this along. If there is anyone that feels led to help in any way...It would be AWESOME and I know she would greatly appreciate it. She was diagnosed with cancer a few years ago. They are trying to keep it contained by medication. She goes in for a special IV medication every 2/3 weeks. She is an outstanding person with a great outlook on life. I have worked with her several months but didn't know anything about her cancer until a few weeks ago. I am touched by her strength. I would just hope I could be that strong. Please help me donate to this great cause and let her know we are behind her!!

Please keep her in your prayers....her name is Tracy.

Wow! It is Super Bowl Time!

Go Pittsburg Steelers & Arizona Cardinals

I am excited.....my twins are coming home from college, my daughter/her husband and friends are coming over for all the excitement.

I was trying to figure out what to serve. I decided one item would be Chili with Beans. That sounds like a good halftime treat. I have several recipes but I wanted to try something different. I went online and found "the President's recipe". I thought that was pretty cool.

I am posting it below in case you want to share it with your friends. This recipe is compliments of Good Morning America.

Obama Family Chili Recipe

1 large onion, chopped
1 green pepper, chopped
Several cloves of garlic, chopped
1 tablespoon olive oil
1 pound ground turkey or beef
¼ teaspoon ground cumin
¼ teaspoon ground oregano
¼ teaspoon ground turmeric
¼ teaspoon ground basil
1 tablespoon chili powder
3 tablespoons red wine vinegar
Several tomatoes, depending on size, chopped
1 can red kidney beans

Saute onions, green pepper and garlic in olive oil until soft. Add ground meat and brown. Combine spices together into a mixture, then add to ground meat. Add red wine vinegar. Add tomatoes and let simmer, until tomatoes cook down. Add kidney beans and cook for a few more minutes. Serve over white or brown rice. Garnish with grated cheddar cheese, onions and sour cream.

Cook and enjoy....I know I am!!

A young lady at our church, Benson Penecostal Freewill Baptist Church, put a note in the bulletin inviting women to do a Bible study taught by DVD by Beth Moore. I go to a small church but immediately we had 53 women to sign up. This is the first all women's Bible study we have ever had. We meet on Tuesday nights and we are only in our 2nd week and it is amazing!! It is a wonderful study considering the times we are living in.

The first portion, from Daniel, chapters 1-6, deals with Daniel's life as he faced the kinds of pressures and temptations Christians encounter today. Daniel is a model for how to develop enduring integrity in an enticing world.

The second portion, chapters 7-12, explores thrilling prophecies from the time of Daniel through the second coming of Christ.

"Just as the prophet Daniel faced unbelievable pressure to compromise his faith in a hostile culture and was constantly confronted by temptations and threats, today's believers face similar trials," Beth Moore says.

If any of you get the opportunity to take this Bible study please don't hesitate.

Maybe you can recommend the study to your church.