Jim Paulson (Owner/Broker)

I just read an article in the Silicon Valley / San Jose Business Journal by Eli Segall titled "California Labor Commissioner sue Zip Realty (for more than $17 million).

http://www.bizjournals.com/sanjose/news/2011/09/26/california-labor-commissioner-sues.html?ana=twt&page=all

Their stock trades on the NASDQ under the symbol ZIPR and their stock is currently down 16.24% at $1.65. Their 52 week high/low was previously $3.47/$1.83. According to Nasdaq's website, Zip Realty has a market value of $33,920,700 so if they lose $17 million that is half their market value!

I remember even 20 years ago, when I first got my real estate license, they taught us not to cross the line between "independent contractors" and "employees".

As a real estate broker in Boise, Idaho; I will be following this case since its' decision will have a large impact on our industry.

Social Media is forever changing the way we communicate and do business. We post things on Facebook, Tweet this or that, + things on Google, and then go blog about our life.

In the revised EPRO class, one thing they cover is a relatively new company called Klout which attempts to guage how much online influence you have based on:

• How many people you influence (True Reach)
• How much you influence them via responses and sharing your data (Amplification)
• How influential they are based on if top influencers are influenced by you (Network Score)

I was very fortunate to have received an invite to join Google + fairly early in the Beta test. When I heard of the "Hangout" feature where you can do live video chats with multiple people I recognized what a powerful marketing tool this will be.

I have a client in Seattle moving to Boise. I went out to preview homes he was considering and thought instead of taking a video and uploading it to Youtube for him to watch, I could just do it live using Google +! Think of the power in while previewing real estate for our clients, we can video chat with our clients showing the home they are interested in instead of myself! That way, if they wanted to know what size the water heater is, I can show them the label indicating it is a 40 gallon or a 60. If they want to know what color the carpet is, they can see it instead of wondering if they know what I mean when I refer to it as "builder beige".

Unfortunately, it is another brilliant idea just a bit ahead of it's time since Google appearantly hasn't released that service into the cell phone market yet.

I thought I could do a work around in the mean time and use Skype's video chat, but that too is not enabled on my cell phone for some reason "no" thanks to Sprint. Sprint has their own product installed called "Qik" but it didn't work on my client's desktop. Skype bought Qik in January, so maybe they are working on bridging the gap.

In the meantime, I really look forward to having Google +'s Hangout feature available on my cell phone. Maybe in the mean time, I will need to bring out my Tablet PC and it's webcam to start previewing homes. This way, I can fit in more appointments each day since I can show a home to my client on their lunch hour and/or breaks instead of waiting for them to get off work or till the weekend!

Idaho Housing and Finance Association is working directly with HUD on a new program called the Emergency Homeowners’ Loan Program (EHLP). This program will offer a forgivable, deferred payment “bridge loan” (zero percent interest, non-recourse, subordinate loan) to assist eligible borrowers with their mortgage arrearages and payments on their mortgage principal, interest, mortgage insurance premiums, taxes and hazard insurance for up to 24 months.

I would have named it the Homeowner's Emergency Loan Program (HELP) so it wouldn't look like I was dislexic when referencing the EHLP program, but it is still a great program!

EHLP is designed to provide mortgage payment relief to eligible homeowners who are at risk of foreclosure and who meet certain requirements of the program. If you have experienced a drop in income of at least 15% resulting from involuntary unemployment, underemployment, or medical reasons, please follow these steps to see if you may qualify:

Step 1: Contact Idaho Housing and Finance Association (IHFA), 1-877-888-3135, or send an email to housingcounseling@ihfa.org with EHLP in the subject line. Please include your name, mailing address, and a phone number. A packet will be sent to you.

Step 2: Complete an application packet and return it, within seven days, with the required documentation. The EHLP Program is on a first-come first-serve basis and we will review your information, for the program, in order of receipt.

Step 3: IHFA staff will be in contact with you.

Who may qualify for EHLP?

Homeowner(s) must meet one or more of the following event criteria:

• Loss of employment resulting in unemployment
• Underemployment – Loss of at least 15% income
• Homeowner(s) has/have been faced with a major medical event resulting in loss of at least 15% of their income

Homeowner(s) must also meet the following eligibility criteria:

• Income Thresholds – Homeowner(s) must have a pre-event income equal to, or less than, 120% of the area median income. Income includes, but is not limited to, wage, salary, self-employed earnings, and other adjusted gross income
• Substantial Income Reduction – Combined income for all homeowners & co-homeowners must be at least 15% lower than the pre-Event monthly income
• Delinquency & Likelihood of Foreclosure – The homeowner(s) must be delinquent on their mortgage which makes it probable that they are facing foreclosure
• Ability to Resume Payment – The homeowner(s) must have a reasonable likelihood of being able to resume repayment of the mortgage and meet other housing expenses and debt obligations when the homeowner(s) regain full employment
• Principal Residence – The homeowner(s) must occupy the property and it must be a 1-to 4-unit structure, condominium, cooperative or manufactured home

If you have any other real estate related questions or are thinking of buying and selling a home in the Boise, Idaho area, feel free to contact Jim Paulson - the owner/broker of Progressive Realty Corporation at 208-573-0471.

There are many different schools of thought on how to sell real estate. Agents are often in a quandry on what to do when a seller wants to price their home over the current market price. I would appreciate feedback on which method you think is best of the options below.

Agent A: Listed a Home a home at top of CMA (owner had agreed to drop price if no offers in 60 days, but never would drop price). Home failed to sell.

Agent B: Re-listed the home an an even higher price than it was previously listed at, but then convinces seller to accept less than Agent A's recommended price.

I really would appreciate your feedback on this since many Realtors face this scenerio quite often. I have been a Realtor for 20 years in Boise, Idaho, yet I will try to refrain from biasing the comments with my thoughts until enough people have had a chance to weigh in theirs. Thanks for your time.