Lenders to Halt Foreclosure Evictions over the Holidays

Fannie Mae and Freddie Mac will suspend foreclosure evictions from December 19, 2009 through January 3, 2010. To help struggling families over the holidays, both owner-occupants and tenants living in properties foreclosed upon by Fannie Mae will not be evicted. Freddie Mac’s suspension of evictions will be limited to properties up to four units.

In a similar move, Citigroup Inc. will suspend foreclosure sales and evictions for 30 days through January 17, 2010 for loans it owns. Citigroup’s foreclosure moratorium, however, does not extend to loans it services on behalf of other investors. Given these developments, other lenders may follow suit, so check with the lender if appropriate.

Indian Wells Tennis Stadium Sold

Billionaire Larry Ellison, the 4th richest man in the world just purchased the beautiful world famous 55 acre Indian Wells Tennis Garden. This comes as great news to Tennis Fans around the nation as part of the deal is that the BNP Paribas Open will stay in the United States. The Indian Wells Tennis Garden is a huge attraction to the Coachella Valley and economic boost. Thousands flock every year to see World Tennis Matches and that means money spent for hotels, food and entertainment. So we locals are happy to hear our Tennis Garden will stay and look forward to the new owner only making it better.

Tennis Anyone?

La Quinta Police Dept Annual Toy Drive, Thank you!

Over 300 children benefited from the La Quinta Police Dept Annual Christmas Toy Drive. The La Quinta police station began collecting toys in November for local children who needed a little Santa style Christmas Cheer. 15 officers volunteered their time to hand deliver the toys and were greeted with many smiling faces. For 12 years now the La Quinta Police Department has been playing Santa and we are so thankful for them.

What About Tiger Woods Branding?

The Tiger Woods drama seems to built around his squeaky clean image that we all had through the many years of branding. This was so strong and ingrained, Tiger has disappeared from public life and the media. His life as we knew it and as he knew it is gone. Will hiding give time for healing for Tiger and for us? Is it out of sight and out of mind? Is this the same for our business and for us? One large mistake and we are blackballed. We hideout but then overtime all of the branding and good reputation we work so hard for and for so long evaporates? Is this life in America? Are we forgiving? It seems we are definitely judgmental.
I feel there are lessons to be observed and learned and not just on the moral side. How will the image and name be branded and marketed from now on? Will it work?

I am amazed how many Realtors do not work during the Christmas Holiday

Here it is Monday Dec 21 st at 8am and we are all in the office for our normal Monday morning office meeting. I got to the office at 7am to begin my week and have some quiet time to open the office and get situated. Well I started off on Facebook to say good morning to all my friends and was shocked to see so many Realtors post that they are on a semi vacation for 2 weeks. Many were sitting home by the fire or reading a book or home baking and wrapping presents. It just got me to thinking, many of these Realtors I know personally and they are always complaining about struggling financially, not making enough to pay the bills and do not understand why since they work so hard.

I too enjoy the Holidays and spend time with family and friends, but i also realize i generate my own income. Our Office will be closed Christmas Day of course but there are 4 days business days left. Being a Realtor to me means working when others don’t. Many people have the holiday vacation and are out looking at homes and I want to be the one they call. Am I the only one who is surprised that so few Realtors work during the holidays? Am I the only Real Estate Office that works through the Holidays?

Homewood Suites In La Quinta is getting a rebirth. Is this a sign of the market improving?

A beautiful new hotel, with a prime location shut its doors in Aug due to the economy and hard times. It was such a disapointment to all around because it was not only a beautiful new hotel but the location was superb. Located right across the street from the famous Indian Wells Tennis Garden, this one one closure no one anticipated.

However the good news is, Homewood Suites was able to restructure the loan and will be reopening in January. Not only is this a great sign of the market getting better but is also good for the valleys low unemployment rate. The hotel has rehired the former employees and many will have a job in the new year.

Is this truly a good sign that the tides are changing?

Knowing the Available Inventory is Crucial

Knowing the is crucial to success in this market and as we all know the inventory status changes minute by minute. We have a team of 15 agents so we share with each other the available homes when we are showing. We still call on all homes to see if there are offers. I was showing a home a few weeks ago even after calling and the new owners were sitting in the kitchen having lunch. They had closed and moved in within 3 days. The sign was still in the yard and the lock box was still on the door. At least my client got to see how fast homes sell.
We also work really hard to develop good relationships with other agents so we can get more offers accepted with easy smooth escrows. We want agents to want to do deals with us.
We preview at least 20 homes each agent each week, plus show homes. We also have a tour after our meeting to view 4-5 best homes in an area. It is really helpful to learn lots of areas and the best deals in the areas as they come up.
We also search the new listings and recently sold on the MLS each day. This really helps as people call on various homes and areas to know what is available and where to find the best values.
This helps us now as well as in the future as we know t

What About Tiger Woods Branding?

The Tiger Woods drama seems to built around his squeaky clean image that we all had through the many years of branding. This was so strong and ingrained, Tiger has disappeared from public life and the media. His life as we knew it and as he knew it is gone. Will hiding give time for healing for Tiger and for us? Is it out of sight and out of mind? Is this the same for our business and for us? One large mistake and we are blackballed. We hideout but then overtime all of the branding and good reputation we work so hard for and for so long evaporates? Is this life in America? Are we forgiving? It seems we are definitely judgemental.
I feel there are lessons to be observed and learned and not just on the moral side. How will the image and name be branded and marketed from now on? Will it work?

How Our Office Celebrates The Office

We have our office in a small town area of a larger community called Old Town La Quinta. We entered in the window decorating contest with a theme of ” Home for the Holidays” and won gift certificates to the nearby restaurants. All of us came to the tree lighting event on Friday evening with choirs, carolers, and Santa. We had cookies and cider in our office for our clients and others who came for the event.
December 9 we are attending an event with lenders and other realtors that is held in a parking lot and catered by Ruth Chris with a band. It is a chance to dress up and network with other real estate and ancillary companies.
December 12 we are assisting with a charity event that donates shoes, clothes, toys, and food to needy families nominated by teachers in local schools. The event is held in a school gym on a Saturday morning with entertainment, refreshments, and of course Santa. Our team of 15 agents donated over 100 pairs of shoes plus food and clothes too.
December 16 is our annual team luncheon. We usually each draw a name and bring a $20 gift. This year we chose to donate this money to our charity event instead. We hold the luncheon at a nearby Country Club where we sell alot of homes. It is very pretty quiet and comfortable.
December 23 I am having a party at my house for the team and their families. My son who used be on our team and now lives in Honolulu is coming home and will cook Hawaaian butter garlic shrimp which we are all looking forward to.
We remember our clients with calls, cards, and this year a subscription to Palm Springs Life magazine- a gift they can enjoy all year.
This is a fun and enjoyable time of the year.People are happy and ready to celebrate and buy houses too!

Do distressed Homeowners wait to long to get help?

I spent many hours today on the phone working with banks on getting short sales in escrow closed. It is a time consuming process, which requires careful documentation, a call log of names, dates and times, and time, paperwork and procedures as well as knowledge of the laws, regulations and negotiators.

As I was sitting on hold for a major bank negotiator i was pondering thoughts in my head, that i often find myself thinking about at 2am. Are homeowners so afraid of the loan modification or short sale process that they wait to long to get help? Would the market be better and economy if the general public felt “safe” in dealing with their loan problems before it became obvious they were going down? If the general public truly understood short sales, vs bank owned vs loan mods, would it help stabilize the economy?

I have helped several people who were in the process of losing their home or who just walked away and decided to rent and I am amazed at how many probably could have saved their home. Circumstances such as a death in the family, or husband losing a job or terminal illness, and these people did not understand they could get help. It saddened me to realize there are probably many more people who are afraid to go through the bank process and do not know where to trun for help, even if they wanted it.

Are Americans in fear of “The American Dream” now? What our family once fought so hard for, are we now seeing a turn?