Our clients gave us a Mikuni's gift card yesterday for helping explain their options for a home equity line a credit. After discussing their options, it made more sense for the client to go direct to their Bank! So we made sure they understood why it was a better direction to go, how the loan product worked, and sent them on their way... never thinking they owed us a thing!
They were so grateful for the the time Todd spent with them... they sent us this gift! How cool is that?
Sometimes in our business folks don't understand that only get paid IF we close a loan with a client. It was nice that a client had acknowledged the time Todd spent with them... even though they did not have to!
It really made our day! We had a very special lunch at the Mikuni's in Elk Grove... YUM! What a treat!
This blog by:
Team Newington
Sacramento Mortgage Planners
First Priority Financial
(916) 687-6868
Register NOW for our upcoming Sacramento Investor Boot Camp coming in July! (date to be determined)!
We have 3 more seats left! Register online for your seat! This FREE Intense training designed to get a deal on your next Sacramento cash flow investment property!!
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We just finished helping a 28 year old couple finance their first Sacramento Investment home! Our Client's have saved their money wisely and live well below their means because the bigger picture is their priority.
They made an offer on a short sale in Sacramento and waited patiently for the bank to respond. Of course the bank came back with a short sale approval that needed to fund and record in 3 weeks! Do they know what is going on in our market? Apparently not!
We were confident we could get it done on-time because we already had a complete loan file with a pre-approval (another testiment for getting pre-approved). All we needed to do was submit the file and order the appraisal. This, of course was done right away!
If you can believe it... I had a full approval (with all of the borrower conditions signed off), but we had to wait several more days for the HVCC appraisal to come in. That alone is whole new blog post!
Sign the petition http://www.hvccpetition.com
Even after that lag time we still have plenty of time to close!
This bank...which is normally spot on... decided they were not going to answer their phone or email for 4 days. We were told we were clear to order loan documents but their system would not release them for whatever reason. Obviously this is a big problem! But we have to remain calm! We control the fate of the transaction and didn't want to get everyone rilled up.
Four days later, we found out the underwriter had not called the borrower to clear up an issue with a fraud alert the client had placed on his credit report... which is why our loan docs where "stuck".
The underwriter insisted the client had to be at the home number in order to verify and remove this fraud alert. So ... the client had to leave work early to go home to take the call. I sent an email to the underwriter to let him know the client was home and could take his call. Guess what phone number that lovely underwriter called? ... his CELL PHONE NUMBER! That poor client! I felt like Jack A$$!
When the loan docs came in... Linda at Fidelity Title was the bomb and had them processed and to the notary in a matter of an hour. The client came to our office that night to sign because it was critical to getting the loan funded. If this was a standard bank owned title company... there would have been no chance of this file closing... NONE!
The precision we needed as a team to pull this off was incredible! We got all information to the funder 1 1/2 days before the closing... but the funder decided that was not enough time... even though it was a short sale that needed to close THAT DAY.
Talk about a let down! I think the listing agent said it best ... "Erin, this is a major fumble!" He was so right ... but there was absolutely nothing I could do about it. I practically begged the funder and her manager.
So we ended up funding the next day and everything ultimately worked out!
Even though I did a great job.. at the end of the day... we closed 1 day late so I thought my chance to work with both agents in the future was as good as gone! Our reputation is important to us and closing a deal late... is what the other mortgage pros do!
I spoke with Linda right before we recorded and she shared the feedback she had gotten from both agents involved with the transaction. She said she had never had the listing agent speak so positively about mortgage pro especially under these circumstances. She told me that both the listing agent and the selling agent commented that they knew that I had worked my tail off to get this done and the funder had dropped the ball.
That made feel sooo good I can't tell you! Especially coming from the short sale listing agent who was somewhat of a bull dog from the beginning (which is a good trait if you are closing short sales).
Writing this post reminded me how we earn every penny of our commissions! Often times investors are all about the numbers so they see our commission as eating up their profit. I get that... trust me! Sometimes I think clients think that we are sipping tea earning our commission because they do not see half the drama that goes down behind the scenes with their file! If they did I am sure they would have a heart attack! At least the First Time Home Buyers would!
So another success story and a happy client! It certainly would not have happened if it were not for the complete team effort!
Please join us at the Elk Grove Real Estate Investors Group TONIGHT!
"SUPERCHARGE" your IRA or 401(k)!
As everyone knows, most retirement plans have taken huge "hits" from the stock market's volatility. Because of this, a growing number of people are interested in putting their money in tangible assets such as Real Estate, rather than the traditional stocks, bonds and mutual funds that Financial Planners promote.
Self Directed retirement accounts are a growing source of funding for Real Estate at a time when funding is becoming increasingly hard to get. Come discover one of the best kept secrets of the financial world!
We will show you how to "SUPERCHARGE" your IRA or 401(k). Learn how to use a Roth IRA and or Roth 401(K) and invest tax free for life.
Topics to be covered will include:
Visit the Elk Grove Real Estate Investor Group website >>
9275 E. Stockton. Blvd., Ste. 100
Elk Grove, CA. 95624
Networking 6:30pm |
Market Update 7:00pm
Main Speaker 7:15pm
This blog by:
Register NOW for our upcoming First Time Home Buyer Boot Camp next week (June 23rd)!
Register online for your seat! This FREE Intense training designed to get a deal on your next home!
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Could there be a silver lining to the current decline in the Sacramento Real Estate Market?
Did you know that you can request the Sacramento County Assessor's Office to reevaluate your current assessed value of your home to see if you qualify for a reduction under Proposition 8? This review could result in your Sacramento Property Tax Bill being reduced.
This decline in value may be the result of changes in the real estate market, the neighborhood, or the property itself. The assessed value will be reduced only after a review by the Assessor's Office. If the assessed value is reduced, it will thereafter be reviewed annually until the property value is brought up to its original assessed value.
Many folks in the Sacramento Area have lost significant value in their homes. With the economy it's current state, every penny counts. With as little as 30 minutes you may be able to save yourself hundreds of dollars per year by reducing your Sacramento property taxes.
Here are the steps you can take to apply for this temporary reduction in property taxes:
Step One:
Complete the following form and submit it to the Sacramento Tax Assessor Office by December 1, 2009 to qualify for a 2010 reduction.
You must provide 2 comparable properties that sold between January 1, 2009 but no later than March 31, 2009. You should provide any supporting documentation to support you case! I recommend that you call your Realtor and ask them for a Comparable Market Analysis and provide you a list of all homes sold between Jan 1, 2009 and March 31, 2009.
Step Two:
The Assessor's Office will evaluate the infomation you provided to see if you qualify for the reduction.
If the Assessor agrees the assessed value has declined below factored Prop 13 value, then:
The Sacramento Assessor's Office constantly monitors market conditions and, when practical, lowers assessed values on a mass basis. Owners are notified and may file an Assessment Appeal if they feel the value was not lowered sufficiently. Read more about the Assessment Appeals process and deadlines.
If you have any questions, you should contact the Sacramento Assessors Office! Here is there contact information:
Sacramento Assessors office
Attn: Real Property Prop 8 Review
3701 Power Inn Rd, Suite 3000
Sacramento, CA 95826
(916) 875-0455
Remember that this application needs to completed on an annual basis from what I understand!
I hope this helps you to reduce your Sacramento Property Tax bill! Good luck!
This blog by:
Team Newington
Sacramento Mortgage Planners
First Priority Financial
(916) 687-6868
Register NOW for our upcoming Sacramento Foreclosure Investor Boot Camp next weekend (June 6th)!
Register online for your seat on this FREE Foreclosure Bus Tour >>
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Did you know that more fortunes were made during the 1930's Great Depression than any other time in history?
The media has consistently reported how horrible the Sacramento real estate market is, but if you're an investor or bargain-hunter looking for a great deal, this is actually great news! Why? More fortunes were made during the 1930's Great Depression than at any other time in history!
The SMART money at the time was buying up real estate left and right when just about everyone else was on the sidelines. We have a very similar opportunity today, and right now, the absolute best way to obtain bargain-basement properties is from the thousands of available Bank Foreclosures.
And by far, the best deals (and steals) in the Sacramento market right now are from the thousands of available Sacramento Bank Foreclosures! They're also called "Bank Repos" and "Bank REO's" (which means 'Real Estate Owned'), and are basically properties that banks and lenders have foreclosed on and taken back due to non-payment.
Banks are taking back so much property, their REO inventory has swelled to a point where they've become the biggest motivated sellers out there. Remember, their business is loaning money, not managing properties.
Plus, banks are a highly regulated industry and audited on a quarterly basis. And having a ton of REO's on their books, which are considered non-performing assets, doesn't look very good to federal auditors. That's one reason why banks are dumping their REO inventory at huge discounts!
Anyway, if you're a serious investor and ready to take advantage of some of the best buying opportunities we've had in a very long time, you can do that by signing up for our "Sacramento Investor Boot Camp and Foreclosure Tour" coming up THIS SATURDAY!
Yup, there's a ton of them out there, but we're taking away all the grunt work and guesswork for you by analyzing and crunching over 400 properties, and then coming up with what we feel are the TOP 8-10 BANK FORECLOSURES in the South Sacramento and Elk Grove areas!
If you will be purchasing investment property in the next 12 months... you don't want to miss this informative event. Lori Mode and Bruce Durham at Keller Williams Realty sold over 50 bank owned homes last year and have insider information about how to work with the banks to get your offer accepted!
There are only a couple spots left!
Walk away with real information you can use!
Register Now >>
Or call Erin at (916) 687-6868 ext.2 to RSVP!
P.S. We will teach you about the volumes of "shadow inventory" out there the banks are keeping under wraps. The numbers we will share with you will help you pinpoint the true bottom of our Foreclosure Real Estate Market.
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