the Bubble Has Burst .. Who Will it Really Hurt ?

The headlines Read the Bubble has BURST - The Nightly news talks of 30 percent housing prices dropping in some areas. And they say the prices will keep falling until at least next summer. The houses really hit are the over built areas, houses in subdivisions and next to each other. Some folks have money and the loans will now be VERY cheap. So there are still buyers. And in recreational area, where homes are on over 5 acres with views - water - and such, it is my opinion that buyers are still buying at quite high prices. Homes on small acreage are not doing so well.

All the While Big Companies such as Coldwell Banker in My area were assuring the public that all was well. Those who should have known all this was coming and stood idle. The Realtors knew what was really going on and did nothing to Watchdog, to Lobby to Fight to Change it, they wanted the Gravy Train to keep on coming their way.

The SHOCK of all this is the Real Estate Consumers that are losing and have lost their homes are the ones hurt by this, obviously. However, the Lenders that got them into this are Getting their Government Bailout. The Mortgage Brokers are still getting those loans out and making plenty of money doing whatever it takes to close the deal. The Realtor on the Nightly News (yes they called this gal a Realtor.. even though NAR says I cannot say that someone is a Realtor.. I have to say they are a Real Estate Agent that is a Member of the NAR.. blah blah... You cannot Use Realtor as a Synonym for Real Estate Agent.. though EVERYONE does.. NAR calls it a trademark violation and it is bad.. but only for a few of us...) and way the Realtor said it is VERY busy for her, buyers are looking - and some are buying because Yes indeed it is a Buyers market, so those who do have money and the ability to get loans will swoop in and get properties for very CHEAP. Most will use a Realtor and a Mortgage Broker, who will in turn use an appraiser and those Lenders that got their bailout will begin loaning again.

NAR is making plenty of money advertising foreclosures, fighting to get mortgages flowing, starting a NEW Realtor Credit Union and forcing development even when there is so much already that houses are standing empty.

Yes Buyers had a choice to get into those loans, but Buyers really believe that the "Value" was there. The Realtor - Mortgage Broker - Appraiser and Lender all assured the Real Estate Buyer that it was the True Value of the Home. The Lender knew that they were giving loans that were more then the home was worth. They actually knew that the Realtor - Mortagage - Broker and appraiser had created values that were to high, they actually said that if it is 10% above the real value then that is ok.

So if they knew of at least 10% in the price increase then there was a whole more percentage that was "fudged" behind the scene to get the value up. And where did the 10% rule end, it didn't end so at random prices increased higher and higher Falsely. Each 10% led to another and the values kept rising but it was not making economical sense. People sensed that something was not quite right but hey the Realtors say it is Ok, and the lender will give me the money so it must be ok.

So Those who got the Real Estate Consumer into this will still keep making money from it. The Foreclosure Companies list with in house franchises or affiliated franchises so those Big Companies, most who are owned by Realogy-Apollo Management.. they get to keep making Huge Money.. Billions but what do they do with this money, well I THINK they hide it.. because they too seem to be getting in on the Bailout Game with the Hand Out for Help.. the Let's take the Real Estate Consumer's Money and Go Bankrupt... Search the News folks.. this stuff is true.. and what I say about the 10% thing.. that is True.. I have seen False Prices, forced closings.. and things like Sellers Contributions were a Flat Out Crime in my opinion...

I mean a house is valued at say $200,000, and the buyer has no down payment, a seasonal job, and the lender requires at least 5% as a Down Payment. The Buyer has NO money, so they talk the Seller into, or shall I say the Mortage Broker directly talks the Seller into or has the Realtor talk the Seller into raising the price to include the furniture so the Buyer will not have that expense, maybe even raise the price and throw in a car.. and certainly raise the price so that their will be that 5% down payment the buyer needs so the Lender will give them the loan, that 5% or more that the buyer simply does not have - but hey the Mortgage Broker and the Realtor promised a miracle and they will pull it off.

So get the Buyer the Loan QUICK while they have a job, no big deal later when the job ends.. or situations where buyers get into loans with the current job to buy elsewhere - knowing that they are moving and quitting that job, and the mortgage broker tells them that this is the only way to get it through.. and Of Course that is the Whole Point Right.. Just Close the Deal.

So the price raises, and as this happens over and over and years roll by, the Value Rises but it is not real with the Economy it is a Made up Value based on the Games that Happen behind the closed doors of the real estate transaction. And what will stop all this from happening all over again.. nothing really. People will come in and buy those foreclosures and re-sell it to the consumers who lost before, some that buy now will even finance it to those consumers for a high interest rate, and those who lost their homes before will have no choice, if they want to own.

Things like this happen every single day.. where does it end.. no where.. when things collapse it just finds another way.. the only hope you have to Protect your Family and your Assets is to Know More about all of this.. don't trust the Realtor.. folks they may be the nices - honest person but they also simply may not know enough to protect you, they cannot protect you from the lies of those on the other side of the transaction, they simply can not do what you, the Real Estate Consumer think they can...

Please.. Know More BEFORE you Sign... don't believe ANYONE that is paid based on your transtion closing...

Those who Created - Allowed - Encourage the Problems that the Real Estate Consumer is NOW facing are the very ones who will now again benefit from the opposite side of the coin. Except for those Realtors who don't get internet marketing or don't work for the Big Franchise who gets to list and sell all the foreclosures they helped to create.

www.SavvyBroker.com

Believe What You Want to Or What You Need to.
Just Know that there is so much more to this
Real Estate Game then You may possibly EVER Imagine..

Watch your Back ~ No One Else is..

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a New Realtor Credit Union is a Very Bad Idea...

Funny how the Local Realtors do not seem to really understand Internet Marketing and NAR, as well as their Franchise encourages their members to have their Sellers listed on Realtor.com and the Local MLS or Franchise Site. The Local Realtors claim that their “Corporate Head” tells them that these methods are tried and true and are the way to go.

Even though I have seen situation where sellers lose hundreds of thousands of dollars of their purchase price because the Realtor’s solution is to Keep Dropping the Price. As long as some where down the Road, the Realtor has a Paycheck who really cares if the Seller is losing money hand over fist.

The “Realtor Sponsored” Internet Marketing classes I have been to have been quite elementary. I knew full well at the time that NAR, with all their money and their hands on the pulse of the Real Estate Industry, that they knew how to truly teach their Realtor Members to market the Real Estate of their Sellers in a way that was easy - informative and non-stressful to the buyer and would reach the most amount potential buyers.

I knew that NAR certainly had to know about targeted internet marketing, PPC, Google Adwords, Blogs, and various other methods that the Realtors could use to Sell the Seller real estate for a fair price to buyer looking on the internet, and sometimes those buyers were not even really looking in that particular area.

The Realtors had to know that if you have New York Water Property for sale, for example, that it would be best for the buyer and the seller if their New York Water Property for sale, for example, listed on NewYorkWaterProperty.com .

A few years back there was quite a stir in one major city, because an Internet Savvy Realtor had bought the dot com name of the Biggest Real Estate Seller in town and bought her son’s dot com. Though they were certainly mad, there was nothing they could do, this Realtor now owned their online identity. And though many years have past since this news article came out still most Realtors do not own their own name.

Most Realtors are followers, they listen to what NAR and their local and state board of Realtors tells them and they accept that as “tried and true”. Not Me, I bought domain names such as NewYorkWaterProperty.com , MontanaWaterProperty.com , CaliforniaWaterProperty.com and many other targeted real estate marketing names. It just made sense to me, though, at the time the Realtors Association(s) I belonged to certainly disagreed and even discouraged me from such behavior.

All along the Boys and Girls on top of the Realtor Food Chain “got internet marketing” but they wanted to make sure that their members did not get it, or at least to stall as long as they could in order to build up their own “web properties”.

You see if all the Realtors get all their clients to list on Realtor.com and Associates, Owned websites then this provides “useful content”. This content draws in advertisers to Pay really big dollar. The more content (your listings provided by your Realtor) the more money the Website makes from advertises and Selling Stuff to Those who come to the Website. It is Certainly not about simply creating a way for Buyers to Easily find Sellers and to Simply Buy Real Estate.

And Realtor.com charges Realtors to be on the site.. So Scam after Scam and the Rich get Richer. So Yes NAR has gotten Internet Marketing to some degree for quite awhile but did not let the agents get into a position to compete with them.

The Classes I went To On Internet Marketing was very juvenile. I had been well into Internet Marketing, Search Engine Placement - Optimization and Marketing and I was excited to here what the Realtors had to say. And all they did was promote their sites for us to input our clients listings on, and to pay to do it.

REALTOR, is now starting an Online Credit Union, so THEY certainly are getting “Net Savvy”. While in my home town Realtor still are convincing Sellers that Realtor.com is the Place to Be.. It is NOT True.

This New Online Realtor Credit Union should be watched closely, soon they will probably loaning money to Realtors to buy houses. And in my experience Credit Unions are the Absolute best place to get a loan on Real Estate, at least in my neck of the woods. So gather all the Realtors money, keep it in the bank for them and loan it out at HUGE profits and call it REALTORS FCU. And don't forget the Overnight Lending that those in Banking get to do, MORE money hand over Fist for the Realtors on Top of NAR..

Here is the News Clip on the Realtor Credit Union.

"WASHINGTON (12/2/08)--Thomas Glatt Sr. has been named the first CEO of the new REALTORS FCU (RFCU), effective Dec. 15, the credit union's board of directors announced Monday.

A 20-year veteran of the credit union movement, Glatt is currently CEO of Continental FCU, Tempe, Ariz., which serves airline industry employees.

He also served in executive positions with OnPoint Community CU (formerly Portland Teachers CU), Portland, Ore.; First Financial FCU, West Covina, Calif; and 66 FCU of Philips Petroleum, Bartlesville, Okla. For 16 years, he headed a credit union consultancy that advised some of the nation's largest credit unions.


He also has been a member of the boards at USA FCU, San Diego, and Kaiperm FCU, Oakland, Calif.

The National Association of Realtors (NAR) is providing the credit union as a member benefit, said NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokers in Dallas-Ft. Worth. He noted the new credit union is tailored to the work habits and lifestyles of realtors, most of whom are independent contractors compensated by commissions.
According to NAR CEO Dale Stinton, the new credit union will be open 24/7 and is Internet-based.

RFCU is scheduled to open for business in mid-2009. Those eligible to become members of the credit union include: realtors and their families; NAR's institutes, societies and councils; NAR staff; and the staffs of state and local boards and associations. NAR clients, such as home buyers and home sellers, are not eligible. "

Now to Me, the Self Proclaimed Real Estate Industry Whistleblower, this is Seriously Something to Watch VERY closely. As if affiliations are Not already Bad enough in the Real Estate Industry. And as if the “Realtors” are not ALREADY walking a VERY thin line with Anti-Trust Law Violations, Now This.. Watch Out.. The Realtors Aim to Take Over a Whole Lot more sectors of Business… YOU LOSE..

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A Statement From National Association of Realtors® President Charles McMillan

WASHINGTON, Dec. 4 /PRNewswire/ -- The following is a statement from National Association of Realtors(R) President Charles McMillan:

(Logo: http://www.newscom.com/cgi-bin/prnh/20080923/NARLOGO)
"The National Association of Realtors(R) has been advocating a four-point plan to help stimulate and stabilize the housing market and the overall economy. Part of the plan calls for changes in how the Treasury uses TARP funds and other monies to lower mortgage interest rates.
"We are pleased to see that the leadership of the Treasury Department is seriously considering the actions we discussed to lower interest rates. The result of such action will help the nation's economic recovery and bring stability to the housing market.

"NAR estimates that lowering the mortgage interest rate by 1 to 2 percentage points can result in up to an additional 800,000 home sales. Housing has always led our economy out of downturns and lower interest rates are key to bringing home buyers back to the market.
"We strongly encourage the Treasury to move quickly with its plan to lower interest rates to encourage current buyers to act rather than continue to wait."

The National Association of Realtors(R), "The Voice for Real Estate," is America's largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

Information about NAR is available at http://www.realtor.org/. This and other news releases are posted in the Web site's "News Media" section in the NAR Media Center.

REALTOR(R) is a registered collective membership mark which may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS(R) and subscribe to its strict Code of Ethics. Not all real estate agents are REALTORS(R). All REALTORS(R) are members of NAR.

CONTACT: Mary Trupo of the National Association of Realtors, +1-202-383-1007, mtrupo@realtors.org

Article Link Below

http://findarticles.com/p/articles/mi_m4PRN/is_2008_Dec_4/ai_n31060379

Keep in Mind Folks that places like FindArticle are a way of PR, a way of getting the word out, though as we mentioned before Realtor Does not really have a clue on this when we got to the top of the Search Engines with the New NAR president as a search term after 4 days of our site launch.. anyway Charles McMillan should NOT get to "Encourage" the Treasury to DO ANYTHING. as a Real Estate Broker owner, EX-Realtor, I know what goes on in the Real World Of Real Estate. The Lenders, Mortgage Brokers, Appraisers all orchestrated by the Realtors. NAR and the National Association of Realtors are Responsible for the MESS that Fannie and Freddie got into, and the Lenders encouraged it and NOW the Realtors New President is Yapping about what to do next to fix the mess the Realtors got them in into the First Place...

Charles McMillan and the Association of Realtors, has what looks like paid staff to promote them and their ideas online yet we are number 2 in Google for "Charles McMillan" in 4 Days.. what are the Realtors Missing hmmmm...

Charles McMillan says, "NAR estimates that lowering the mortgage interest rate by 1 to 2 percentage points can result in up to an additional 800,000 home sales. Housing has always led our economy out of downturns and lower interest rates are key to bringing home buyers back to the market." Now isn't this a GREAT Solution, hurry up and get people into those loans and into those houses and get those Realtors back to work....

and at the Bottom of all their Self Promoting Media, they put some Gibberish about how the Realtors "subscribe to its strict Code of Ethics" when the Realtors PUT no effort into making sure that the Realtors in the Real World of Real Estate actually follow the Code of Ethics, nor do the Realtors Association put effort into monitering the Quality of the Data the Realtors put into the MLS that affect the Values that Lenders Put on Real Estate. Realtor want E and O insurance knowing Full well that it WILL NOT protect the Real Estate Consumer... Do Not Believe the Media the Realtors, the National Association of Realtors puts out. It is SERIOUSLY biased and in No Way what is Best for the Real Estate Consumer. I personally feel that the REALTORS making a Public Statement about what the Government, Treasury and the Financially Industry should do is a Violation of Anti-Trust in and of itself... they should be ignored...

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Realtors Reccommend ... Realtors Support ... Charles McMillan

NAR, the Realtors Should NOT have a say in what the Governing Bodies Do. They Should Not get to support " the federal government's takeover of Fannie Mae and Freddie Mac ". NAR just wants money to flow and fast so that they can get back to work.

article below

A conversation with NAR leader Charles McMillan

National Association of Realtors President-elect Charles McMillan said he supported the federal government's takeover of Fannie Mae and Freddie Mac during an interview Monday.

McMillan, broker for Coldwell Banker Residential Brokerage, Dallas-Fort Worth, was in town for the annual convention of the Texas Association of Realtors, which runs through Thursday.
Here's more of what he had to say about the national and San Antonio housing markets:
Question: The federal government took over Fannie Mae and Freddie Mac. Did you think it was necessary in order for the real estate market to rebound?

Answer: We applaud this decision. We already note that confidence is being restored both domestically, in terms of the stock market, and as well as abroad. And we needed that confidence restored.

Q: We happen to be one of the states where numbers are low in terms of foreclosures; and in Texas, San Antonio has one of the lowest rates for foreclosure. What puts us in this better position?

A: One of the reasons is that we didn't have the insane run-up in prices during a short period of time. We've had a steady increase of 3 to 5 percent per year. Another thing, we learned from '91. The economy is more diversified and broad-based. At one time it was heavily dependent on oil and gas and defense contracting. If anything happened — a hiccup in either of those — the state would then suffer. We have a multiplicity of disciplines headquartered in San Antonio and throughout Texas, not only because of the weather but the educated work force. We have governance being business-friendly .... We have an influx of people coming in.
Q: When will home sales consistently begin to pick up?

A: It's expected that this will begin to happen throughout the latter half of 2009. There is an unknown variable: What impact the Fed's actions will have on the immediate future. (It) may come about a lot quicker. I was listening to economists this morning who were surmising that interest rates might lower for a while.

Q: Do you think it's necessary to have the federal government guaranteeing home mortgages as it is doing by now controlling Fannie and Freddie?

A: (The federal role) came about when private financing was not available. The need was accelerated when veterans came home from World War II after making $20 a month and did not have the 40 to 50 percent down, which was the standard. Even today, it is very helpful in allowing most people who would not otherwise have the opportunity to get at least one foot on the bottom rung of the housing ladder, the main source of wealth of most Americans today.

http://www.mysanantonio.com/business/local/
A_conversation_with_NAR_leader_Charles_McMillan.html

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Charles McMillan ~ Internet Marketing

Does the New NAR President Get Internet Marketing ? Folks, internet marketing is the MOST important thing in Real Estate. the Realtors Want Sellers to Believe that they NEED to be on the MLS even though it is in NO WAY true. Realtors, NAR want buyers to believe that the MLS - Realtor.com is the Best place to shop for real estate even though this is in No Way True.

NAR wants the Buyers to go to those Mega-Sites so that they can sell the buyer "other stuff" and charge advertisers millions of dollars based on the Buyers Eyes that come to their sites.

But the Truth is that Sellers who Sell without a Realtor can put more photos out, put out videos and lots of information and even use blogs to sell real estate and Do It All For FREE.. save the commission - have LESS liability (I can Prove it) and find a buyer quicker.

The buyers are looking online for Real Estate, whether it is listed with a Realtor or Not is irrelevant to them, the Point is, Can I find What is For Sale - What Can I find out about what is for Sale - is there pictures and videos ... the Realtors Gets in Your Way folks.. so Yes .. Internet Marketing is VERY important. ONE true sign that your Realtor Does NOT get Internet Marketing is that they do not Own their Own Online Identity, they know nothing about Search Engine Marketing or Reputation management and don't even know how to promote themselves well online .. how are they to Promote your Real Estate for Sale.

about Charles McMillan, the Incoming 2009 National Association of Realtors.. Google Charles McMillan and out of 2.2 Million sites, Today after 4 days ... our New Website www.CharlesMcMillan.com is Number 2. Charles Mcmillan was a Principal Broker, he is the Top Guy at NAR and he does not even own his own dot com.. in the Internet Real Estate World that I live in .. that is a VERY Big Deal.

I Get Internet Marketing THE Realtors Association Does Not, or if they do they certainly don't want anyone to know..... they get in your way of marketing.. non-Realtor Real Estate Agents who have the Freedom to Market you online without NAR rules holding them back or YOU selling as a For Sale by Owner is the Best Way To Go.

Find Out More Folks... Knowledge is the Only Real Estate Insurance and Leverage that you have as a Real Estate Consumer.

r

www.SavvyBroker.com

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Who is Misleading the Realtors.. Shame .. Shame

This Story is So Sad. The Poor Realtor who DOES not get Internet marketing AT all and Has to Pay for leads online, is mislead by a Real Estate Lead Generation Company and they are Shocked, Gee I wonder if the REALTORS will Hold anyone accountable.

The Realtors mislead the Public EVERYDAY. The Realtors, most do not even own their name as Dot Com, Duh... You the Seller can Easily Market Online where the Real Estate Buyer Can find you. Don't TRUST the Realtor they really are fumbling around in the darkness of the Big Scary Internet looking for Leads - the Wrong way and blaming other for Their Naivity.

I think many, many more Realtors will be Duped as they struggle to survive online and Pay the WRONG people to Promote Them, Blog about them, give them leads and at the same time still trust the MLS and Realtor.com as a Good Place to market Real Estate.

Don't Use a Realtor, NOT only will you save lots and lots of money and have better protection, you avoid the chaos the Realtors are getting you in online... you will Get a Purchase Price, and have better long term protection.

Here is the Article Below

Many real estate agents in Las Vegas and across the country say they've been misled. They blame a man who lives here part-time and who continues to sign up new clients for his "can't miss" advertising plan. News 3 investigator Mitch Truswell uncovers how many realtors feel ripped off.

Rex Harris is promoting a realtor referral plan, similar to 1-800-DENTIST. If you're looking for a realtor, he asks you to call his 800-number, as advertised on television, to find one. Harris makes his money by selling the rights to valley zip codes to realtors.

If someone in 89113 calls the 800-number looking for a realtor, whichever realtor brought to that zip code receives the referral. News 3 spoke to several agents who bought this service yet have never seen the commercial and never had a referral.

Recently, Rex Harris met with local realtor Anita Shapiro to talk about the advertising plan he claims is incredibly popular. What Rex didn't know was that News 3 recorded the entire sales pitch, including when the ads will air.

Rex Harris: Everybody is signing up. I've been on every appointment. I can show you the checks in hand dated today because everybody is signing up for our program. TNT, like I said, is from 4 to 7, ESPN News is from 7 to 7, ESPN on the weekend from Noon to 7, Fox News from 6 to Midnight, HGTV from 7 to 9, MTV 4 to Midnight, and CNN all day long.

Anita Shapiro: When are you going to start these?

Rex Harris: It starts this month.

News 3 followed up with Rex to make sure we had heard correctly
Mitch Truswell: You already bought time with the network?

Rex Harris: Yeah. We're going to start this month.

Rex told Anita that a 90-day contract would cost $2,500. If she pays today, she could reserve the zip code she wants. And as it turns out, the zip code she wants is available. Anita asked for a contract to show her husband. Rex Harris, however, said he didn't have any extras.

The contract Rex supposedly uses looks similar to the ones used by Our Family First Realty, a company that sold the same advertising plan to valley realtors as far back as one year ago. In fact, Rex Harris was the sales manager of Our Family First Realty, which is now out of business.
Realtor Emily Gunning bought the advertising plan from Rex in July 2007 when he was working for Our Family First Realty. Emily has never seen the commercial on television, nor has she ever received any referrals. And now, she wants her $1,300 back.

"He took agents' hard-earned money and didn't do what he said he would do," alleges Emily. "We have been in contact with hundreds of other agents in Colorado, Illinois, (and) Indiana that have the same story, exactly. He's collected thousands of dollars."

Realtors across the country signed up for the same deal, but they too have never seen the commercial on television.

Mitch Truswell: A lot of realtors say they paid you money and they're not getting anything done. None of these ads were ever placed.

Rex Harris: I have no comment.

Mitch Truswell: These people just want their money back.

Rex Harris: Ok, then they need to contact the company that I worked for, ok?

Mitch Truswell: But if the company is not in business then how are they going to get their money back?

Rex Harris: Uh, I don't know bro.

When News 3 again spoke with Rex, he told us that he's building a legitimate company, Better Realty Deals. The web site lists a business address which is actually the address for a home on the valley's west side. Rex Harris is not listed as the homeowner.

Mitch Truswell: Do you have a business license? Are you registered?

Rex Harris: As far as I know.

Mitch Truswell: Under what name?

Rex Harris: Better Realty Deals.

But after checking with the Secretary of State's Office, News 3 uncovered that there is no corporation by that name, nor is there a business license throughout all of Las Vegas, Clark County, or Henderson.

And that's just the beginning of the unanswered questions.

During his sales pitch, Rex Harris told Anita Shapiro that his father owned the company.

Anita Shapiro: He owns the company? Your dad?

Rex Harris: Yes.

Anita Shapiro: And does he have a real estate background or advertising?

Rex Harris: Realtor in San Diego for 12 year. All his buddies are big guys out there.
But when asked by News 3's Mitch Truswell whether his father was involved with the company, Rex Harris responded, "No, my father is dead."

Rex also told Anita Shapiro that the advertising program was already up and running.
Anita Shapiro: When are you going to start these?

Rex Harris: It starts this month.

Yet when asked over the phone by News 3's Mitch Truswell whether he had bought any media time for clients, Rex Harris responded, "For my clients signing up now, we don't launch until January."

Because of these inconsistencies and many others, Anita Shapiro sat through the sales pitch but never bought into it. Unfortunately, she does have friends who did.

"He took $1,300 from my friend Emily, money from people I work with - professionals. He's out there doing it again. He just has a new business name."

Harris says his advertisements have run, yet when asked by News 3 for receipts or dates of the media buys, Harris claims he doesn't have them.

News 3 knows realtors in many different states have paid money to Rex Harris for the realtor referral program through Our Family First Realty or Better Realty Deals. If you were one of them, please contact us at realtorconcerns@kvbc.com.

http://www.kvbc.com/Global/story.asp?S=9550541&nav=menu107_2

I is So Sad When the Dupers are Duped.. Shocking...

Kind of Makes you Want to Cry.. don't it.

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NAR Urges Financial Regulators and Industry

the Headline Reads

NAR Urges Financial Regulators and Industry
to Make Mortgages More Attainable..

Well Of Course they Do.. Easy Mortgages + Realtors Lies = Riches for Realtors.

I have Reported Mortgage Fraud.. No One Cares.. a New Batch of Freshly Printed Money will Soon Drop back on to the Mortgage Consumers, the Real Estate Consumers... I beg of you to Use Extreme Caution... the Realtor will Lie about the Market to Get a Sale.. and You Will Lose...

Knowledge is What you Need, Don't Trust the Realtor.. as a Broker Owner, Ex-Realtor member I know that Realtor are a HUGE part of the Market Collapse but who cares EVERYBODY but the Real Estate Consumer is Getting a Bailout of Some sort including Realogy - Apollo ... Now They will Turn around and Do it All over Again, it is Your Money, Your Equity, Your Very Life do NOT leave it in the Hands of a Real Estate Agent who went to school for One Week to Learn How to Pass a Test...

Here is the Headlines...

NAR Urges Financial Regulators and Industry to Make Mortgages More Attainable

WASHINGTON, Dec. 18 /PRNewswire/ -- The National Association of Realtors(R) applauds recent actions by the Federal Reserve and the Treasury making mortgage interest rates more affordable. However, further action is needed to help the thousands of people trying to buy a home or to stem off foreclosure to get a mortgage easily and quickly.

"Our members tell us that families are once again looking to enter the housing market only to find that delays, process and bureaucracy are getting in the way," said NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth.

"The federal government and the mortgage lending industry must address continuing problems that are impeding the delivery of mortgage credit to home buyers and those trying to avoid foreclosure."
In a letter to the Treasury Department, the Federal Reserve Board and the Federal Housing Finance Agency, and copied to President-elect Barack Obama's transition team, NAR notes that in addition to lowering interest rates, the federal government must work with mortgage lenders and credit reporting agencies to eliminate processes that are making it difficult to close on a mortgage loan so that the housing market and the nation's economy can have a robust recovery.

"Now really is a great time to buy a home. Inventory is high, prices are down and mortgage rates are near 50-year lows. We have to unclog the system and let people achieve and hold on to the dream of homeownership," McMillan said.
NAR is recommending that the Treasury Department provide additional TARP funds for the sole purposes of making additional loans and modifying mortgages to help prevent foreclosures.

"The housing market is clogged with short-sales that take frustratingly too long to clear. Though lax underwriting standards should never return, many lenders' credit score requirements have become overly stringent. Good people with good credit scores are finding it difficult to qualify for loans despite the historically low mortgage rates," said McMillan.

NAR is asking mortgage lenders and mortgage insurers to make sure they have not over-corrected their underwriting standards and added unnecessarily strict underwriting standards, such as excessively high credit scores to qualify for a mortgage. In addition, credit reporting bureaus should improve compliance with the Fair Credit Reporting Act, including providing prompt responses to consumers who want to correct errors in their file.

Lastly, NAR is calling on all mortgage lenders, their servicers, Fannie Mae and Freddie Mac, and investors in mortgage assets to implement aggressive policies that result in more loan modifications to prevent as many foreclosures as possible, expedited processes for short-sales, and added liquidity to the nonconforming mortgage market.

"If rates stay low at near 5 percent or lower, home sales could rise nationally by 10 to 15 percent in 2009 and stabilize prices in many parts of the country," said NAR Chief Economist Lawrence Yun. "That, in turn, will help reduce foreclosure pressures and lower the rate of re-defaults on recently modified distressed loans. Improved loan modification tools are also necessary. Everyone needs to work together so this can become a reality."

NAR continues to advocate for other measures that would help create long-term stability by ensuring that safe and affordable mortgages are available throughout the nation, including making the higher loan limits passed in the economic stimulus bill earlier this year permanent and extending the temporary $7,500 tax credit for first-time home buyers to all home buyers and eliminating the repayment requirement.

"The work is not yet finished, and NAR is committed to continuing its efforts with policy makers and the new Congress and administration to get the real estate market back on track -- the nation's economy depends on it," McMillan said.
The National Association of Realtors(R), "The Voice for Real Estate," is America's largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

http://news.prnewswire.com/ViewContent.aspx?ACCT=109&STORY=/www/story/12-18-2008/0004944651&EDATE=

NAR - Should Not get to "recommend ANYTHING to the national treasury department. It is like the Crime Victim getting advice from the Criminal... The Realtors Giving Advice.. to the Government .. when THEY are to blame, in a Major way for the problem in the First Place ? makes No Sense... Watch out folks.. the Realtors are Running the Show...

NAR working with "Policy Makers" on your Rights - On YOUR life.. and You Don't EVEN get a Vote. In the World of Real Estate which is the VERY corner stone of Your Life, it is NOT we the People - it is We the Realtors... What We Want - When We Want.. YOU the Real Estate Consumer.. Well.. You Lose.

We will Be Watching Charles McMillan and the Policies he forces on Your Government. After the New Year we will have a Site to Watch What Charles McMillan Does, supposedly in the Real Estate Consumer's Best Interest. Charles McMillan as you know is the new NAR president for 2009 and he is already pushing Government and Policy Makers around on Behalf of the "Voice of Real Estate" the Realtor...

Oh, are You wondering what the New Blog will Be Called, the One that Will Keep you up to Speed on What Charles Mcmillan the New 2009 NAR President is Up to.. are you Ready for This one.. I am guessing that Internet Marketed and this New Fangled Internet thing is Not Really his Style because this Site - this Blog that will Giving you the Scoop on Charles McMillan, NAR is www.CharlesMcMillan.com Stay Tuned...

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Apollo Management - Realogy ... Icahn.. - When Billionairs Battle.. Who Wins

Screw over the Real Estate Consumer and Go Bankrupt.

You need to Look Out for you. If you EVER buy or sell real estate, your life - your assets really are at stake and you may not even know until years down the Road. And by that time your Realtor has Spent ALLyour money, and HUGE companies like Apollo Management go bankrupt and they are Billionairs.. nobody has your back.

Dec. 19th 2008

Icahn Wins Round in Realogy Battle

Carl C. Icahn, the billionaire investor, scored a court victory Thursday over his longtime friend and fellow billionaire, Leon D. Black.Mr. Icahn’s investment firm, High River LP, sued a real estate company controlled by Mr. Black’s private equity firm, Apollo Management, on Nov. 26.

Mr. Icahn is seeking to prevent the company, Realogy, from refinancing $1.1 billion of debt, asserting the move would hurt certain Realogy bondholders and delay the inevitable failure of the company.A Delaware judge on Thursday ruled that Realogy’s planned $1.1 billion debt exchange violates contracts in the lending agreements with Mr.

Icahn and other bondholders.“If Realogy wishes to engage in the proposed transaction, it would need to obtain agreement from the required number of its bank lenders to amend or waive certain provisions of the credit agreement,”Vice Chancellor Stephen Lamb of Delaware Chancery Court wrote in his decision.Mr. Icahn and the trustee that holds the Realogy bonds, Bank of New York Mellon, had sought a court order to block the exchange, but Judge Lamb stopped short of halting the exchange offer.

Apollo bought Realogy, owner of Century 21 and Coldwell Banker, for $6.6 billion in April 2007, just as the housing market was starting to implode. Now, with home values sinking, Realogy is asking its bondholders, including Mr. Icahn, to exchange $1.15 billion in oldbonds for about $500 million in new loans to reduce its debt and ride out the slump.

Mr. Icahn and other holders of Realogy’s senior secured debt, which would be paid off first in the event of a bankruptcy, claim Realogy’s credit agreement does not allow it to issue the new debt.Mr. Icahn said in an interview on CNBC that the lawsuit against Mr. Black didn’t harm their friendship.“Leon actually invited me to a party at his house” after he filed the lawsuit, “but I couldn’t go,” Mr. Icahn said.

– Zachery Kouwe

http://dealbook.blogs.nytimes.com/2008/12/19/icahn-wins-round-in-legal-battle-over-realogy/

There Seems to be No End In Site to the Hold the Real Estate Cartel has over You the Real Estate Consumer. Is Nobody Watching this Folks ? Apparently Not.

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Stop Realtors - Boycott Realtors

Realtors are Hurting Real Estate Consumers EVERY single Day.

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Realtors Paying for Lawsuits against Local Gov. THIS is Wrong..

Tucson Association of REALTORS® Supports Lawsuit against the City of Tucson

Tucson, Ariz. – (September 10, 2008) –Tucson resident Eric Button has filed a lawsuit against the City of Tucson challenging the validity of § 3033.7 of the Tucson Code (the "Ordinance").

The City has refused to issue Mr. Button a demolition permit for his house in the Jefferson Park Neighborhood until he completes a costly and potentially time consuming historic review process mandated by the Ordinance. So, Mr. Button has challenged the Ordinance's validity, asserting that the City adopted the Ordinance without providing the proper notice to the public.

Click here to view the city ordinance. It requires Mr. Button to submit a historic survey to the City for his house and for every property within 300 feet of his house. Mr. Button does not have the expertise to prepare the historic survey so he would have to hire an architect to do so.

Once the City accepts the historic survey, the review process can take up to two months and, at its conclusion, the City Building Official is authorized to delay issuing the demolition permit for an additional 90 days to allow the City to document historic features and/or an additional 180 days "to provide the City with time to preserve the structure either by purchasing or arranging the purchase of the property."

Apparently, the City Council has given the Building Official the discretion to hold up a demolition permit in this fashion even if the property owner has no desire to sell his property to the City.

The Tucson Association of REALTORS® is funding Mr. Button's lawsuit against
the City of Tucson. ...

http://www.TucsonRealtors.org/tar-v2/lawsuit_web.pdf

Why Do Realtor have this kind of Power? Who is this "trade association" that they are seemingly above local law, that they get to even have an opinion on local lawsuits. Do the Realtors Run the Cities.. Well from What I see they do and My First year of Real Estate.. the Big Boys told me.. that "We control who comes in and our of town".. I have talked to several people who have said the same thing. the Realtors having Been Running the Show Long Enough... Stop Using Realtors to Sell your Real Estate...

Lawsuits such as this should be between those directly involved and not the Realtors, the Realtors want Demo for their own selfish reasons.. they should not have a say.. the Support of a Local Association of Realtors should be Flat Out Rejected.. they SHOULD not get to Pick a Side, Period.
r
The Realtors should not have a Say, they have no right. Just because they have bigger attorneys and a whole lot of people and money behind them should not give the Realtors the Rights to Bully Local Law, Local Councils - Planning Boards or Governing Bodies... it is "We the People" not We the Realtors.. who Decide what is best for a community.
r

When a Local Realtor Association Funds a Lawsuit between a Citizen and the City .. the Realtors have gone Way to far with their "political clout" not only has the Tucson Association of Realtors declared their SUPPORT for this guy, they with their millions of dollars are Funding the Lawsuit. And as an Ex-Realtor I have seen the Damage Realtors can do and the money they have behind them. I doubt that City Funds are big enough to Fight the Realtors Agenda. Realtors Get what Realtors Want... Bullying ? Real Estate Cartel? How far will the Realtors go to take over local law and to ENFORCE their agenda on local government ?

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