Fred Mannila

Well, if there were ever a time to invest in real estate, that time has come. I am getting notified of some UNBELIEVABLE opportunities. How about a home that was purchased for $899,000 a year and a half ago that is now $399,900? How about a home in a nice area of NE Portland for $97,000?

What if you set yourself up with a few properties that you rented out for a few years and watched your equity grow while someone else made the mortgage payment for you?

I mean, seriously, what if you could purchase several homes right now for prices that existed years ago and set yourself up comfortably for the future?

The time is now to take advantage of the opportunities I see every single day. If you would like access to any and all of these properties for Bend and all of Central Oregon, the entire Portland Metro area and all of Eugene and surrounding areas, please simply send me an email to fred@fredrealestate.com and I will add you to the list. Or, you can always call me at 503.422.7653 or 541.647.8322.

This is an email I just received from my preferred lender. If anyone is interested, please email me at fred@fredrealestate.com and I will get you in touch with him.

I'm very pleased to announce that I've partnered with a loss mitigation company in order to help people who may be having problems with their home financing. This program allows people to keep their homes by renegotiating their current loan. This process can be started even if you are not behind on your mortgage payments yet. The reason this program works is simple; Banks do not want to own real estate! Check out this article for an idea of what our financial institutions are facing.
http://money.cnn.com/2008/11/13/real_estate/foreclosures_october/index.htm?postversion=2008111306

Who can benefit?
There are several key reasons that you may want to consider a loan modification. If your financial situation has changed in anyway since you purchased the home you would be eligible. If your income hasn't changed but the value of your home has decreased you would be eligible. A story I heard this morning a talk radio show best explains why a bank would be willing to evaluate almost any modification application. The gentleman who called in was current on his mortgage payment however he owed almost $100,000 more than the home was currently valued. He very bluntly asked the host why he should keep paying the mortgage on the home as the value obviously wasn't there. This is a very common situation these days and the banks want to avoid this more than anything. It costs them an incredible amount of money to go through the foreclosure process and devalues the homes they already own even more. They are more than happy to forgive a portion of the debt or rework the loan terms to avoid foreclosing the home.

Property Type
Primary, Second homes and investment properties are all eligible. Even if you own multiple properties you're eligible!

The key is to understand that you are not applying for a new loan. The loss mitigation attorneys simply renegotiate the terms of your current mortgage with your current lender. They will work with both the 1st and 2nd lien holders; in some cases they can negotiate a complete removal of the 2nd loan. I know most of us are seeing a reduction in our incomes these days. Whether your self-employed and have seen your business slow down or your employer is making cutbacks we're all affected in some way.

If anyone you know needs assistance with this, please do not hesitate to email me: fred@fredrealestate.com.

I just read that there may finally be help coming with the upside down mortgage crisis. Now, home owners may be able to have their mortgage adjusted to current market value which will also lower their payment. It is predicted that there will be 1.9 million foreclosures across the country in 2009. There were 1.6 million this year. By helping home owners keep their homes and afford their homes in not only a "must do" by the government but the right thing to do. This will also help stabilize the real estate market and lower the inventories that are at record levels. Finally, there might be a light forming at the end of the tunnel!

I have been practicing real estate for nearly eight years now. One of the reasons I got my broker's license, and ultimately, principal broker's license was because real estate allowed me to run my own business and help my friends and family sell and purchase real estate. However, I wanted to share with you what goes on behind the scenes. By the way, the life or a real estate broker is not glamorous with us driving fancy cars and showing fancy homes all day and making millions of dollars.
The truth to behind being a successful real estate broker comes down to a few things. Be genuine, be knowledgeable and work hard for your clients. I am not a "salesy" guy. However, I do, 100 million percent, believe in helping my clients accomplish their real estate goals whether it's buying their first home, selling a home because they are financially strapped, purchasing investment properties and rentals or just offering real estate advice. I believe that if I work hard for my friends and family and do the right thing, that's all that matters.
Right now, the real estate market is experiencing a time where many thousands of successful Realtors are leaving the business. They are losing their jobs just like many of the industries we see on the nightly news. There is an old statistic out there that only 2 out of 10 real estate agents survive in this business. And, if you make it to 3 years, you're golden. I hear the same stories everyday and talk to some of my fellow agents around Bend, Portland and Eugene that are struggling to simply survive. These are agents that have been in the business 25 years and now have nothing. Right now is a tough time for all kinds of industries and businesses. If we can somehow band together and help each other out and realize it's just not one person suffering but hundreds of thousands..even millions...and focus less on what the media is saying, we can all help each other pull out of this economy. I hate hearing about people that are GOOD, HARD WORKING people that are losing their house. I hate hearing how families are wondering how they are going to pay the bills this month. I want everyone to be able to look back in a few years and have a home that is making them money, not costing them money. I want everyone to have a comfortable savings account. I want everyone to know that they will go to their job and get a pay check. I just want everyone to be happy...plain and simple.