Feb
20
Senate bill requires response to short sale requests within 75 days
Posted by tamdan under Arizona, Ask a REALTOR, For Sellers, Listings, Phoenix, Regional News
A new Senate bill aims to speed up the short-sale process by requiring mortgage lenders or servicers to respond within a mandated timeline or face potential fines.
The bill, introduced late last week by Sen. Lisa Murkowski, R-Alaska, gives the servicer 75 days to reply to a homeowner’s written request, which must include a copy of a contract with a prospective buyer.
The servicer would have to answer with an approval, denial or request to extend the response period up to 21 days. The companies could also approve the short sale subject to certain changes.
Homeowners would receive $1,000 each time the lender or servicer fails to respond, along with other “appropriate relief,” according to the requirements of the bill.
“What we have here is a failure to communicate,” Murkowski said in a statement. “Why don’t we make it easier for Americans trying to participate in the housing market, regardless of whether the answer is ‘yes,’ ‘no’ or ‘maybe?’”
Moe Veissi, president of the National Association of Realtors, said real estate agents support “any effort to improve the process for approving short sales.”
The bill, co-sponsored by Sens. Scott Brown, R-Mass., and Sherrod Brown, D-Ohio, was referred to the Senate Banking Committee. Legislators introduced at least six bills related to short sales in 2011. None made it beyond the committee level.
One introduced by Rep. Thomas Rooney, R-Fla., would automatically approve a short sale, unless a lender or servicer responds within a 45-day window. The bill, H.R. 1498, holds limited bipartisian support in the House.
News: Housing Wire
Tamala L Daniels, PLLC
Branch Manager Arrowhead
Realtor, CDPE, CIAS, SFR, GRI
www.AzShortSalesSold.com
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Feb
20
Chase donates 100 homes to military, wounded warriors
Posted by tamdan under Arizona, Ask a REALTOR, For Buyers, General Information, Phoenix, Regional News
Mortgage lender Chase and nonprofit Operation Homefront will partner to place 100 wounded warriors, military members and veterans into Chase-owned homes.
Operation Homefront is a nonprofit that provides aid to active military, wounded warriors and veterans.
The new program — Homes on the Homefront — will provide transitional services for veterans and families chosen to receive the residences.
Chase, the lending unit of JPMorgan Chase ($38.47 0.47%), is offering real estate from its banked-owned inventory to applicants who are either active duty service members, in the National Guard or in the reserves or honorably discharged veterans. Other qualifiers include the soldier’s status as someone who does not currently own a home. They also have to be financially capable of sustaining the residence past the initial transition period.
The homes are donated, providing the recipients a clean slate to start from. After the transition period, the owners will assume all other homeownership-related costs.
The program also considers surviving single spouses of soldiers killed-in-action and post-9/11 disabled veterans as potential recipients.
“This is an incredible gift from Chase to our men and women in uniform,” said Jim Knotts, president and CEO of Operation Homefront. “Chase’s imaginative, nationwide approach to providing quality homes to deserving service members and their families will make a huge difference in how these heroes can make that difficult transition and adjustment into productive civilian lives.”
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Nov
9
Foreclosure fears foster true grief
Posted by tamdan under Uncategorized
Reports of foreclosures by the millions have been in the news so much over the past few years that to some, it might seem like the new normal.
But as a real estate professional who is in the trenches with financially stressed homeowners every day, it never for a second feels to me like business-as-usual.
The prospect of losing ones home is right up there among the major sources of grief, and often, it goes hand in hand with other tragic setbacks such as the loss of a job, a divorce, death of a loved one, mounting medical bills or skyrocketing mortgage payments.
Unfortunately, the first stage of grief is denial, and that’s even more the case when the threat of foreclosure is looming. No one wants to talk about or admit financial troubles—even when millions of others have founds themselves in a similar spot. It’s completely understandable, but for homeowners who are behind on mortgage payments, decisive action is often the most critical step toward ensuring the best possible solution.
As a real estate professional who has sought out the Certified Distressed Property Expert (CDPE) designation, I help homeowners to deal with every aspect of the grief and uncertainty that accompanies a mortgage which is no longer manageable. In the process, I help them to get on a path of financial solvency.
If you or someone you care about would like to change the course of a life that’s facing foreclosure, I get it and I can help.
Contact me today at 602-688-6327 or tamalad@cox.net.
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Feb
2
HomeSmart’s SmartCode Commericial
Yep that’s my hand….watch the video and catch a glimpse of me scanning a barcode to view a listing! Make the Smart Move with HomeSmart and your home can be seen by buyers with just a click of the phone!
Thinking of selling your home? Call me today @ 602-688-6327 and we can set the plan in motion. Visit my site: www.AzShortSalesSold.com for a free report and www.BestofPhxLiving.com to search the MLS for properties.
http://www.youtube.com/watch?v=CbphlESMkj0
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Dec
6
The Mortgage Interest Deduction (MID) is vital to
both home ownership and our economy.
Dear Home owners ,
Mortgage interest rate has been deductible for nearly 100 years, and the proposed changes will affect all 75 million home owners in the United States.
We must act now to make sure the MID is not changed.
I am asking you to call your representative’s office today to ask him or her to defend the Mortgage Interest Deduction from any cuts or reductions outlined in the Deficit Commission Report. CLICK TO CALL
Let’s draw a clear line in the sand! While we all support efforts to reduce the deficit, further undermining the critical housing recovery cannot be the price that is paid.
Here are some suggested talking points for you to use when you call:
I am a constituent and/or business owner.
I have been on the front lines of the housing crisis. I can assure you that even talk of changing MID harms an already fragile market
I am strongly opposed to the Deficit Commission’s proposal to either limit or eliminate the Mortgage Interest Deduction.
News reports saying that Congress threatens to repeal or limit MID will keep potential buyers on the sidelines and further delay the housing recovery.
WHO IS A REALTIST ®
AAREB members are called Realtists ® and represent all professional disciplines within the real estate industry. Realtists promote the highest standards of professional integrity and follow a strict code of real estate industry ethics. We have a special charge to make certain that communities of color are treated with dignity and respect
Thank you for your time and support,
Tamala L Daniels, PLLC
Realtor, Realtist, GRI, CDPE, ABR
Arizona’s Short Sales, Foreclosures
and Resource Specialist
Mbl: 602-688-6327
www.BestofPhxLiving.com
www.AzShortSalesSold.com
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Nov
19
Is Now A Good Time to Buy A Home?
Posted by tamdan under For Buyers, For Realty Professionals, Phoenix, Regional News
As a REALTIST ® I promote the highest standards of professional integrity and follow a strict code of real estate industry ethics. I have a special charge to make certain that communities of color are treated with dignity and respect. It would be my pleasure to assist you with this wonderful opportunity to becoming a homeowner! Visit my website at www.BestofPhxLiving.com or call me direct @ 602.688.6327 today.
Tamala L Daniels, PLLC HomeSmart Int
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Nov
11
On the Edge of Losing Your Home? Don’t Wait Call Me Today
Posted by tamdan under Ask a REALTOR, For Sellers, Listings, Phoenix
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Nov
11
Foreclosure Freeze: What Does it Mean for Homeowners?
Posted by tamdan under Ask a REALTOR, For Sellers, Phoenix, Regional News
You may have heard that Bank of America, Ally Financial (formerly GMAC), and JPMorgan Chase have all temporarily suspended foreclosure proceedings to investigate possible problems with mortgage documentation. Bank of America froze foreclosures in all 50 states, but recently announced they will move forward in the 23 states that resolve foreclosures through their judicial systems. Ally and Chase have continued to halt proceedings in these states.
For homeowners having problems making mortgage payments, this may seem like tremendous opportunity to stay in their homes. The unfortunate reality is that the foreclosure process will start again, and for those facing foreclosure, the real opportunity lies in the extra time to find better alternatives. The first step to take during this opportunity is to contact an educated real estate agent as soon as possible to learn about options.
For homeowners who owe more on their homes than what they™re worth and don™t what to do, I can help provide options and hope during this time of uncertainty. Together, we can take a proactive approach to a situation millions of Americans are facing everyday. We can use this extra time for developing a strategy to get past this time of distress, and move toward a brighter, more stable future.
I can help you move through this process with easy!
Visit my website for a free report: www.AzShortSalesSold.com and call me today!
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Mar
6
Find out which remodeling projects offer the biggest returns.
Which home upgrades will score big with buyers? REALTORS ® in markets across the country judge the effects of several projects on sales prices for the annual Cost vs. Value Report, done in cooperation with Remodeling magazine.
The Reports
- 2009 Cost vs. Value: Small Projects, Big Bang
- 2008 Cost vs. Value: Still Many Happy Returns for Home Rehabs
- 2007 Cost vs. Value: Exterior and Replacement Projects Bring Highest Returns
- 2006 Cost vs. Value: Making Home Improvements Pay
- 2005 Cost vs. Value: Remodeling’s Payoff
My Favorite Low-Cost Remodeling Projects:
1. Tidy up kitchen cabinets. “Potential buyers do open kitchen cabinets and look inside,” says Morrissey. “Home owners can add rollout organizing trays so when buyeres peek in, they fell like there’s lots of room for their stuff”. Check out IKEA’s they have really inexpensive organizer items!
2. Install granite tile instead of a slab. ” Everybody is hot for granite kitchen countertops, but that can be $5,000 upgrade,” syas John Wilder, a general contractor and owner of Fence and Deck Doctor in New Castle, Ind. ” Instead, home owners can put in 12-inch granite for about $300 in materials and get very high impact for little money.”
3. Add a room. Look for large spaces that can be enclosed to create a new bedroom for just the price of creating a wall. “one time, we closed off a half-wall to an office and added a door to the other side of the room, thus creating another bedroom, ” says Quinn. ” That $400 procedure, which took a contractor one day, netted about $40,000 in the sales prices.” Zuluaga has also added bedrooms inexpensively. “In a two-bedroom house, there was an archway that led to a third room that was used a s a den,” he explains. ” It had a dry bar and created a closet so the owners had a third bedroom”. This is a perfect option for sellers who have a 2 bed home w/ a den or 3bed home w/ a den….add the doors to the den and if needed have a closet added. A bedroom must have a closet to be considered a true bedroom by all real estate terms and condition to sell with value! Your friendly real estate tip from an Accredited Buyer’s Representative!
If you would like to have an Home Valuation completed today with extra tips on how to sell your home fast and for the highest price possible. Call me today @ 602-688-6327 and start packing today!
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Mar
6
Unable to sell, homeowners become landlords
Posted by gpaola under For Buyers, For Realty Professionals, For Sellers, General Information
Are you having trouble selling your home in today™s real estate market and thinking about becoming a landlord? If so, you™re not alone. A growing number of homeowners who need to relocate for a job or other reason are renting their homes instead of selling them in the current market.
Keep in mind that when you become a landlord, your property becomes a place of business and its insurance requirements change. For example, you would need a landlord insurance policy to cover the property and protect you if anyone is hurt on or in the property.
Many choices
Landlord policies typically cover the building in case it™s damaged or destroyed by:
- Fire
- Explosion
- Lightning
- Windstorm*
- Hail damage*
There are important optional coverages you may want to consider such as:
- Replacement cost coverage on the home
- Liability coverage
- Coverage for theft
- Coverage for vandalism
- Loss of rent
- Landlord personal liability coverage
Depending on your individual situation, you may consider some options especially important. For example, do you rely on the rental income to pay your living expenses? A landlord policy may include coverage to help compensate for lost rent if the building is uninhabitable because of covered damage such as fire or explosion.
Call me: I can give you additional information and answer any questions you may have so that you have the coverage you want when you rent your property.
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