REMAX IMPERIAL

it's official, fannie and freddie are not longer private companies!!!

the us government unveiled a takeover of fannie mae and freddie mac , extends as much $200 billion in support to the 2 companies.

"a failure of fannie and Freddie would affect the ability of americans to get homes loans, auto loans, and other consumer credit and business finance "Henry Paulson said it today"

On my opinion it had to be done other wise if the two companies would have gone under this country would have gone to a depression inmediately .

What this mean to me as the Marketing Director of Remax Imperial is that we have to work even harder and smarter in order to success in this market. I need to promote even more our Cash Rebate Program to new buyers in Long island.

We need to be able to distinguish between a prospect and a client. to know when to take a client to see a house, to know if a person is really approved or preapproved.

but the keys of success are right here at active rain, because we have 100,000.00+ members helping us with new ideas to improve and to succeed in today's market.

Thanks active rain

As we all know fannie and freddy are one the biggest companies in the US.

The hold 6 TRILLION DOLLARS, YES THAT NUMBER IS CORRECT according to www.realtor.org .

half of the nation mortgage paper is owned by them!!!!!! and if the government takes over that will mean that the stock value of those companies for the stockholders will be basically wipe out!!!!!

BUT ON MY OPINION if that happens I think that we might get a good rally on interest rate drop because even tough the 10 year treasury note (tnx) has gone down , the spread is over 130% and the interest rates haven't drop as it should.

but when our government starts with the bailout. I would think that it will help us as Real Estate Professional in New york, Long island, California, Everywhere. because if interest rates drop even more and with the decline in home prices , we might see a better real estate market , or better activity report than expected!!!!!'

please let's hear everyone opinion.

Sincerely Remax Imperial
Long island Real estate company!!!!!!

Hello everyone!!!!! hopefully you are doing great and closing a lot of deals!!!

I want opinions about how is everyone doing in today's market!!!!

but when i Say everyone, I'm not taking about Remax Imperial located in New Hyde Park Real estate, I'm taking about my county or my region.

I was looking at the MlS REPORT OF MY REGION AND GUESS WHAT.THERE WAS 13,000 TRANSACTIONS, or closing in the month of July 2008. there were 13,005 closing , in queens, Suffolk and Nassau County
QUEENS =3,573 CLOSINGS

SUFFOLK= 4,873 CLOSINGS

NASSAU= 4,559 CLOSING

TOTAL 13005 CLOSING IN JULY OF 2008.

THAT IS VERY GOOD!!!!!!:)
WE SHOULD BE VERY HAPPY, EVEN though you hear on news that fannie and freddy is in huge trouble, or that lehman is closing a division , or that job reports are in lowest times ever. WE HAVE IN NASSAU, QUEENS, AND SUFFOLK 13000 transactions!!!!!!!!!!!!

and on my opinion is excellent news because everybody know that we have less real estate professional now than a year ago. that means opportunities to generate better services for our clients.

and if we compare to last year in july of 2007, real estate tansaction in long island, queens and suffolk it was 17000.!!!!!!!!!!! but we still had ALT A BANKS, we still had Subprime banks, Fannie & freddie stock were 70 dollars, lehman brother stock was excellent, we still had a secondary market to sell mortgage besides the GSE or fha , va . BEAR STERNS WAS AROUND. jobs claims were good and more thing !!!! OIL it wasn't that high last year

and with everything that has happened in our economy We still closing real estate transactions every single month!!!!!!!

13000!!!!!!! and If you have any questions, please don't hesitate to contact us at

-

For the judicial states where foreclosures take place, shortsale is the best way to save money to the bank as well to the real estate professionals (Realtor).

On the bank or lenders point of view they don't have to wait one year or more just to able to get to the auction date where 90% of the time that you go an real estate auction in Nassau, Queens or Brooklyn the bank has to take the property back because the LTV (loan to value) is so high that no real estate investor will buy it.( foreclosure attorney)

After that bank gets the property back at the auction , they have to do an eviction procedure(more attorneys) , and this could take 6 month or more!!!

and we are not done yet!!!!!!

the bank after they do the eviction, they have to do the clean up!!!!

And finally is ready to sell with the expertise of an REO BROKER!!!

NOW, IS TIME TO DO THE MATH

EXAMPLE:
INTEREST RATE: 7.5%

ORIGINAL MORTGAGE AMOUNT : $400,000.00
2 YEARS FOR THE BANK TO GET THE PROPERTY BACK $ 67,200.00
Foreclosure Atty $ 8,000.00
Eviction + Clean up to be ready to sell(nyc)8 months mortgage pmt $ 22,400.00
Eviction Atty + Clean up cost $ 6,400.00
3 year of real estate taxes $ 18,000.00
3 year of Force Home Owner Insurance $ 12,,000.00

TOTAL COST for the before it goes an Experience REO BROKER $134,000.00

400,000.00- 134,000.00 $266,000.00

ASSUMING THAT THE BANK SELLS IT AT $400,000.00 , BUT We know that is not true.

WE ARE NOT DONE YET!!!!!!!!!!

now let's talk about Depreciation : 0.5 % per month
36 months (assuming that the original value was 400k) $ 64,365.00

$266,000.00 -64,365.00 = $201,635.00

49% LOST TO THE BANK.

OR TO DO A SHORT SALE

U BE THE JUDGE!!!!!!

Any questions, please don't hesitate to call the Experts at Remax Imperial located in New Hyde Park NY.

RE/MAX IMPERIAL

LONG ISLAND HOMES FOR SALES!!!!!
www.remax-imperial-ny.com

516-355-9000

IN TODAY'S REAL ESTATE MARKET MAKING THE RIGHT DECISION IS NOT EASY
THE RIGHT DECISION COMES WITH THE RIGHT ADVICE
THE RIGHT ADVICE COMES WITH THE RIGHT INFORMATION
THE RIGHT INFORMATION COMES WITH THE RIGHTS TOOLS

AND THAT IS WHAT THIS GROUP WILL OFFER.

THE RIGHT TOOLS GIVES YOU THE RIGHT INFORMATION
THE RIGHT INFORMATION GIVES YOU THE RIGHT ADVICE
THE RIGHT ADVICE HELPS YOU MAKE THE RIGHT DECISION

AND THE RIGHT DECISION WILL MAKE US SUCCEED!!!!!!!!!!!!

I have to give a special thanks to all real estate agents at Remax Imperial to provide this info.
visit their website at www.bestrealtyny.com

FREE TOOLS FOR THE REAL ESTATE PROFESSIONAL.
WEBSITES THAT YOUR COMPETITION DON'T WANT YOU TO KNOW!!!!!

PLEASE JOIN MY GROUP AND SEE THE BEST FREE TOOLS AVAILABLE !!!!!!

http://activerain.com/groups/success

1) Judicial Title. (forms)
Free forms such as affidavits, deeds, retainers , leases , contract of sale , Mortgages & UCC's, transfer tax and hundreds of forms available for free either in pdf or word documents.