The Southwest Johnson County Referral and Networking Group meets every Friday morning from 7:30-8:30 am at the Tumbleweed Grill. The cost to attend is bring 35 business cards. The cost to be a full member is bring a smile!
Monday, December 28, 2009
Homeownership in U.S. May Decrease
Homeownership in U.S. May Decrease, New York Fed Study Finds.
(Bloomberg) — The rate of homeownership in the U.S. may fall in coming years as households rebuild equity wiped out by the worst slump since the Great Depression, according to a study by economists at the Federal Reserve Bank of New York.
“The official homeownership rate will likely experience significant downward pressure in the coming years,” Andrew Haughwout, Richard Peach and Joseph Tracy wrote in a paper posted on the bank’s Web site. Owners whose mortgages are larger than the properties are worth “very likely will convert officially to renters,” assuming prices don’t climb in the next several years, they said.
U.S. homes have lost about $5.9 trillion in value since the market’s peak in March 2006 as mounting foreclosures and the recession weighed on prices, according to Zillow.com. The homeownership rate peaked at 69 percent in 2006 and has since dropped to 67.3 percent, a level not seen since 2000, the authors wrote.
A drop in homeownership would have broader implications for the economy, boosting the national savings rate, they said.
Kansas City RE/MAX
(Bloomberg) — The rate of homeownership in the U.S. may fall in coming years as households rebuild equity wiped out by the worst slump since the Great Depression, according to a study by economists at the Federal Reserve Bank of New York.
“The official homeownership rate will likely experience significant downward pressure in the coming years,” Andrew Haughwout, Richard Peach and Joseph Tracy wrote in a paper posted on the bank’s Web site. Owners whose mortgages are larger than the properties are worth “very likely will convert officially to renters,” assuming prices don’t climb in the next several years, they said.
U.S. homes have lost about $5.9 trillion in value since the market’s peak in March 2006 as mounting foreclosures and the recession weighed on prices, according to Zillow.com. The homeownership rate peaked at 69 percent in 2006 and has since dropped to 67.3 percent, a level not seen since 2000, the authors wrote.
A drop in homeownership would have broader implications for the economy, boosting the national savings rate, they said.
Kansas City RE/MAX
RE/MAX CEO Helped Change Short Sales
Number 1 Home Agent » Blog Archive » Bank of America, RE/Max and Wells Fargo. From Very Bad to Great.
Now the good news. A month or so ago one of the most powerful and truly influential people in real estate, Dave Liniger assembled some top B of A executives and several United States Senators in the same room. I think it is fantastic that Dave Liniger can contact them, tell them when and where he needs to see them and have them actually arrive.
Mr. Liniger proceeded to tell the B of A executives that their reputation - in the area of short sales was just awful. He told them that he had about 100,000 agents with RE/Max and that he doubted very many of them would even consider directing loans to Bank of America. He pointed out to them that if they had any hope of keeping their agent driven business they had better stop making enemies over in their short sale division. The senators were a little surprised and dismayed at all the specifics Mr. Liniger pointed out had occurred with regard to loan modifications that never happened (after people were put on wait for six to nine months) and that the same thing was happening with short sales.
The Bank of America executives were shocked and said they had no idea such things were happening and (the good news) vowed to correct each and every one of types of behavior that Liniger had pointed out to them. Dave Liniger is predicting that B of A short sales will soon be as easy to do as Wells Fargo short sales.
To be fair, B of A is already improving. The loss mitigation companies they’ve hired to handle some of their short sales is not (repeat, is NOT) difficult to work with, at all.
I personally do not believe that B of A will ever consistently achieve the stellar results that Wells does. The reason? The executives were shocked at what Dave Liniger had to tell them - they didn’t already know. A great executive would have not only known it was happening, they would have been able to predict it and prevent it from happening. Great executives make it their business to know what is happening in their business. That said, I still believe that B of A will make great strides and improve tremendously. I want to add, I am grateful for Dave Liniger stepping up and to B of A’s top management for owning up.
Short Sales are only going to get easier! So, THANK YOU!
Kansas City RE/MAX
Sunday, December 27, 2009
Saturday, December 26, 2009
Garmin cycling team set to go without Wiggins, changes with sponsor - Garmin is based in Olathe, Kansas http://ping.fm/0I5a0
Thursday, December 24, 2009
Merry Christmas
The Dowell Family wishes you a Merry Christmas!
Click below to see your personalized greeting card and watch the accompanying video:
Click below to see your personalized greeting card and watch the accompanying video:
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Wednesday, December 23, 2009
Tuesday, December 22, 2009
Monday, December 21, 2009
Sunday, December 20, 2009
Saturday, December 19, 2009
Thursday, December 17, 2009
Wednesday, December 16, 2009
J.P. Morgan Retirement Plan Services to Move Headquarters to Overland Park, Kansas http://ping.fm/8FjFc
Monday, December 14, 2009
Edgerton Should Learn Fate of $50 Million Grant to Build Intermodal Early in 2010 http://ping.fm/LxTHT
Sunday, December 13, 2009
Saturday, December 12, 2009
What a powerful story about a family who needs help - The real story starts at the 1:20 mark. http://ping.fm/MoLi5
Friday, December 11, 2009
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