Todd Pierceall

I have previously written an article about my disappointment with Pitney Bowes and their mailing systems. I signed up for the program as a solution for my companies mailing issues after reading about it on the Realtor's Partners. The previous blog was not favorable and that certainly has not changed.

Since the last blog I have found out that when I orignially signed up that I am now obligated for a year. I will admit I did not read every line of fine print but I did read a lot of it and I listened carefully as the rep explained the program. I never heard or read anything about a 1 year contract.

Also, as I used the system, I began to notice that my monthly bill was increasing. When I contacted PB to inquire about the increase I was told there was a surcharge to refill the postage on the meter. Let me get this straight. I pay a monthly fee to rent a postage meter that is supposed to save me time and money by not having to go to the post office to buy postage. Now on top of the monthly fee I must now pay a surcharge to put postage on the postage meter? Outrageous.

It gets even better. Our offices moved due to expansion. We have a very sophisticated data and phone system that is very secure and reliable. When we plugged up the postage meter it wouldn't work. I called to get assistance and after a lengthy phone call with several people I discover that the machine will not work with my new data and phone lines because I have to have a single dedicated phone line for only the machine. I told them it was out of the question and the expense to have an additional phone line installed just for a postage meter was a little absurd. I was told I could buy out my contract and pay an early termination fee and send the machine back.

I hope after you read this you will keep in mind this is a recommended Preferred PArtenr of the NAtional Association of Realtors. Are they crazy??!! If the National Association of Realtors is going to publish an Approved Partners list they should spend a little time to investigate the programs and the vendors themselves. They should also have a forum where Realtors can post complaints about the vendors and if they receive enough complaints remove these vendors as Preferred Partners. I fully understand that these companies probably pay fees to be listed as a preferred partner but I think we all pay fees as well. Who is the National Association of Realtors loyal to? Their Preferred Partners or their members.

In conclusion... Don't use Pitney Bowes and don't think just because you see a company is a Preferred Partner of the National Association of Realtors that they can be trusted. It is all about the almighty dollar.

The announcement that home buyers will soon be able to use their $8000 tax credit as a down payment is great news. It might be great news without substance however.

I recently talked with several tax professional that told me the so called bridge loans that many people get while waiting on their tax return money are only offered by a handful of banks around the country and these banks only offer the loans for a couple months out of the year specified by contracts they sign with the major tax preparers. These contracts expired at the end of April and currently there are no plans to sign new contracts.

So, who is going to offer these bridge loans. HUD has suggested that the lenders themselves offer them. How is that going to work? The lenders would be basically offering a second mortgage as they have no way of tracking when the borrower files for their return or how much they will be getting. HUD has fought to keep borrowers from using second mortgages as a down payment and has eliminated many of the local programs that helped with this situation. Now they are advocating it? Very confusing.

HUD has also suggested that the local agencies that used to offer down payment assistance now start offering the bridge loans as a solution. Again, how will this work? It won't for the exact reasons I mentioned above.

The only way to make this work is for the borrower to coordinate their tax return with the lender to show they will indeed be getting the money. This will have to be done with their tax preparer and most do not have the capital to start issuing large numbers of loans. It will have to be the large nationwide franchises that implement this program and few of those are positioned to handle this type of transaction in the off tax season.

While on the face this is a great idea to spur the housing market, I think the government has offered a program that is more hype than substance. These types of announcements need to be held until the details have been worked out and it can be implemented without all of the confusion.

Todd Pierceall
Prestige Properties
www.prestigeproperties4u.com

Real estate is local in nature. We all know that. Many people look at a community, city, or town to decide if it is a good fit for them. One of the biggest things people with children look at is the school systems and rightfully so.

In my home state of NC, Charlotte, the largest city is facing a budget shortfall just like most cities and towns across the nation. Unfortunately they have decided to cut close to 50 million from the school system budget. I understand in hard times sacrifices have to be made, but wait, there is more to the story.

The local news has started airing stories about some public garbage cans that a local artist is going to decorate at a cost of $12,000.00 each. Also, they have installed some modern art sculptures at the airport for $65,000.00. The stories go on and on with art project after art project.

I like art. I think art is important in society. Should art be paid for by local tax dollars when the school budget gets cut? I think this speaks badly of the city and sends out the wrong message. It is decisions like these that will have Charlotte ranking lower and lower on national rankings when it comes to cities where people want to live or have a high quality of life. Charlotte will sure be pretty with all of it's art but it will also be extremely stupid because they neglected their responsibility to education their children.

Sometimes we think we stand out only to find that we blend in way too much!

I often find myself reviewing my business and making sure I am doing things that make my company stand out from others in my area. How often is my perception the same as others? Many things that I sometimes think are different are actually quite similar. It is not enough to be just different. Different doesn't necessarily get you noticed. In marketing my company I try to analyze everything from the colors of my logo, sign design, advertising, target markets, etc. and then make a decision as to the perception that others have. Do they notice? Is it enough to stand out from the others? Sites such as Active Rain have been a big help for me as I read other agent's ideas and unique approaches to the business. The fact that agents from all over the country participate is an even bigger bonus. Something an agent in California is doing maybe new to my area and therefore worth trying. Sharing ideas and thoughts makes us all better in the end.

Thanks Active Rain! Thanks Active Rain participants!

Todd Pierceall
Prestige Properties
www.prestigeproperties4u.com

This is a warning to every agent that may possibly involved in a future short sale. If you discover that Wilshire Credit Corp is servicing the loan, apologize to your client and run as fast as you can the other way.

With out a doubt, Wilshire is the worst loan servicing company I have ever dealt with. Example, I sent in all the required documents they requested. For over six weeks they could not tell me if the documents had even been reviewed. It took so long that when the documents were reviewed and I called for an update, they said the documents were now out of date and they needed new ones. We had to start the process all over again. We have lost 3 deals on this particular piece of property due to the fact that Wilshire has no clue what they are doing. This is probably going to be the fourth deal we lose.

Until the government steps in and starts mandating that lenders and their servicers start providing a certain level of customer service this problem is never going to go away.

To wrap it all up, WILSHIRE IS WORTHLESS!!!