Tracy "Royce of Real Estate"

As I've been able to develop a team, I've been "out and about" and in the field less and less over the last couple years.

There is a portion of me that misses the nitty-gritty of pounding the pavement, so to speak, but a larger amount of gratitude that I can instead manage and close deals from the comfort of my office. (Keep in mind too, that here in AZ there are 5+ months of 100 degree weather!)

But, as of late I've been making more of an effort to get out and about and meet and greet with the people I work with constantly, say thank you, talk business, and share ideas.

The face time often leads to programs/marketing ideas I didn't know they offered, sharing notes on recently closed deals, learning more about their staff, and honestly, just building goodwill in the community.

There's a difference between posting comments on people's Facebook status', and literally sitting face to face and discussing business and deepening that relationship. Wouldn't you agree?

And, there's something to be said about "being in the trenches" with the same associates/vendors during this economic rollercoaster. We've all experienced challenges, setbacks, and successes, and continue to thrive by linking with the right team mates.

I'm challenging myself now to get out of my comfort zone of these types of "check ins" and to start going to networking events (which I'll admit, I'm pretty uncomfortable with!)

Are you doing anything to interact face to face with clients, associates, and vendors more? Do you think it's worth it?

To your success!

*This article was originated from Realtor.org, with full copyright going to the original author(s). Full story can be found at http://www.realtor.org/fedistrk.nsf/pages/wk01032011?OpenDocument#report_1_01_03_2011

On December 28, 2010, the Treasury Department released an update to the Home Affordable Foreclosure Alternatives Program (HAFA). The changes will increase the number of eligible borrowers who may participate in the program and should expedite approvals:

(1) A borrower's reason for relocation no longer needs to be connected to employment nor be of a certain distance from the property. Borrowers may have moved up to 12 months before certain dates in the HAFA process but may not have purchased another home.
(2) Servicers are not required to determine if the borrower's total monthly mortgage payment exceeds 31% of gross income. Borrowers will still be required to show a hardship.
(3) Servicers are now required to communicate approval, disapproval, or a counter offer no later than 30 calendar days after receiving an (i) executed sales contract, (ii) Alternative Request for Approval of Short Sale, and (iii) a signed Hardship Affidavit.
(4) If an unsolicited borrower requests HAFA, the servicer has 30 calendar days to determine the borrower's eligibility and, if eligible, send the borrower the Short Sale Agreement.
(5) HAFA will no longer impose a 6% cap on payments to each subordinate mortgage/lien holder. The $6,000 aggregate limit is still in effect.

The update also clarifies vendors of the servicer may not be paid from the real estate commission. Servicers must implement the changes by February 1, 2011.

HAFA Policy Update

Charles Dawson 202-383-7522, Jeff Lischer 202-383-1117, Tony Hutchinson 202-383-1120

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My additions:

- How helpful has HAFA been for you and your clients? Do you notice your short sales going through faster?

- Do you think these changes will help?

It seems, although banks are trying to find ways to speed along the process (HAFA, Equator), there is still a terminal dis-ease of foreclosures eroding the market, faster than they can be dealt with. 2011, I think, will still see an ongoing outpour of foreclosures and REO's, even though we might see an uptick in actual short sales completed.

Your thoughts?

To your success,

A recent article on MSN.com made me beg the question, especially since I am a Listing Agent that specializes working with foreclosures.

Here's what their points are, and my personal comments. I want to here yours too!!

1) Price - this is a no brainer. We price competitively, but also take into account the condition of the houses we're pricing agianst, and how long it took the ones at the highest prices for sale. If our home isn't in the best condition, and we want to move it, we show that in price.

2) Not in foreclosure - This is a premium in the marketplace. The amount of "traditional" inventory that sells in the Phoenix-metro area is around 30% of the monthly sales. Not having to wait months for a response, and be able to close quickly will attract more buyers than not.

3) Looking your best - we try to spruce up the homes we have for sale. Sometimes, we don't though. If we want to move the house quickly, and are willing to take less than top retail price, we'll just do an as-is sale and not spend anything. What do you guys think about this?

4) Ditch the point and shoot - I am blessed in this area in that I own a pro camera and know how to use it well. I VERY rarely do traditional marketing (flyers, postcards, etc), and I know almost all of the eyeballs that see my homes will see them online first. So, like a dating site, I want my pics to "pop" and show the homes best side! Even if it's not a premium property, having great pics and a competitive price will peak more buyers interest.

5) Consider leasing - I'm seeing some of this, where the homeowners losing their homes (or walking away) are turning into great tenants, and tenants that have been saving up are finally ready, willing, and able to buy.

Phoenix metro has seen some interest changes very recently, including declining prices and slowing sales. This isn't gloom and doom, but the stats are pertinent when you are in the business of knowing how to move property! This is a great article that makes you think along those lines.

http://www.msnbc.msn.com/id/38834709/ns/business-real_estate/deck/

(All copyrights remain with original author)

What works for you in your area, to get homes sold quickly and for top price?