Tag Archives: Associations

What Do Options and Mortgage Fraud Have in Common?

Maybe some time in the “Big House”, and a reduction in your 401K.

Brokers, do you hae a listing whereby you find out there’s someone who owns “an interest” in a property you have listed, but that person is not on title?  Ask your agents.  They don’t volunteer this willingly till the offer comes in and the Seller says, I’ll have to get with Joe, and let you know”.   You need to be involved here.

Brokers, find out if your buyer agents have an offer in on a Short Sale that has an Option-Holder (who is not on title).  Your agent may not understand what is going on.  You need to be involved here, too.

Is an Option illegal?  Not usually.

But, it is if the purpose of the Option is to circumvent state licensing laws or to defraud the lender from reaping the most possible from a Short Sale.

Question:  If a lender agrees to short a loan of $200,000 by writing off $50,000, and accepts the buyer-seller agreement, no problem.  What if the lender agrees to this agreement, only to find out that there was a simultaneous closing that was for $10,000 more than what the lender received?  Who pays the $10,000?

You and me.  Yes, the losses are what we the taxpayers shell out through the Feds to make up all the bank losses.  If there were only a $40,000, instead of a $50,000 write off, we would not have to shore up the banks any where near as much as we will if the short sales continue to have so many hands in the pot.

Would the RTC hae done a better job of clearing the market of toxic assets?

Real story:  one of my agents and I were doing an Open House at one of our listings.  Sheepishly my agent told me that the property was scheduled for a Trustee Sale.  Note:  In AZ we use Trust Deeds and a non-judicial foreclosure period of 90 days from filing of the papers to the Trust Sale.  Agent unsure of date.  So, will the Seller agree to go through the process of filling out and submitting to the bank, short sale papers, ask I?  I couldn’t get a straight answer and had to get out my pliers.

“Why hasn’t the Seller spoken with the lender and asked for a packet if she’s without a job and cannot afford to pay the loan on this 2nd home?”

“A what?”

“The Seller did what?”  Gave 1% interest in the house to a man she hardly knew to do property management?  Unlicensed?

Yes, the story goes down hill from here.  My agent then continued to tell me that that same “property manager” was going to remove the cabinets the following week.

Some of you don’t know me… but by now can guess…

I said, “you call the Seller and tell her that if one cabinet is removed from this property I will make it my life focus to make certain that the person removing the cabinets spend time behind bars!”  I should have been more inclusive.  The next week the cabinets were there but the light fixtures, appliances, etc. were gone.

That agent is no longer with me.

People, that is mortgage fraud!!!

Watch this video:  http://activerain.com/blogsview/1168080/what-is-the-difference-between-a-real-estate-wholesaler-and-a-real-estate-broker-be-careful-out-there

Dick Fryer is a member of the Floride Real Estate Commission and he believes, as do I, that real estate professionals are eventually going to find themselves in a world of hurt just by turning a blind eye to the hanky-pank that’s taking place.  By the way, the term “wholesaler” is a synonym for “dealer”.

Here’s what the AZ Attorney General Terry Goddard just filed:


Brokers, ask your license law officials about these issues, call your attorney and discuss transactions like this with him/her, and for heaven’s sake, get involved with your agent’s short sale and Rent-to-Own transactions.  Look at me, sounding like the lady in the drug ads telling parents to get involved.

Must get back to writing the AZ CE course…  look for a post about the “Shrink-Wrap House”… more on short sales, AZ’s amendment to the anti-deficiency judgment statute, and bankruptcies.




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Don’t Post Your Business Stuff on My Facebook Page…PLEASE!

How did something I enjoyed so much become a place that I no longer want to go?

Facebook is for my family and friends.  If I “connect” with you, I hope you will respect my page and only post to me things that are about you personally…maybe an occasional post about what you’ve been doing in business, or where you are going in business, BUT, please do not try to solicit me to buy your books, your training programs, or your children!

LinkedIn, I allow people to try to solicit me.  I figure it’s all about business.  But, not my Facebook page.

Today I “disconnected” someone I “connected” with recently.  His first post to me was an out and out solicitation.  Flush!

Using someone’s Facebook page to advertise your wares is like pinning a note on someone’s child and sending them home to Mom.  Mom does not like that.

We’re all looking for ways to “connect” and I am glad to “connect” with strangers as long as they don’t abuse their welcome.  My page has become so cluttered with videos that I will never watch, business news and comments from people I don’t know, and information I don’t need.  Can I be the only person who is getting p—-d off?

You may “tweet” me with business news, or post on my LinkedIn page, but PLEASE, discontinue posting to me on Facebook.  Give it to me on Twitter.  It goes away and does not go to everyone who views my page.  I’m about quality, not quantity.

It’s called Social Networking for a reason… Facebook is for my chosen friends or people I think I would like to have as friends.


Kathy Howe

Kathy Howe

Tweet your news to me at:  http://twitter.com/sedonakathy

LinkedIn: http://linkedIn.com/sedonakathy


Filed under AZ CE Courses, Pets, Real Estate, Retirement, Sedona Housing, Taxes, Technology, Uncategorized

What does the NSA and AMY CHOREW have in common?

They both made my week!

NSA is the National Speakers Association.  It’s members include people you have only heard about or seen on TV.  They are the creme de la creme of the speaking industry.  I only wish I were a member.

Through twitter one day I received a “tweet” from someone who did a twitter search and found my name.  Michael Benidt introduced himself and we “tweeted” about our worlds.  He asked if I knew that the NSA was meeting the week of July 12-17 in Phoenix…I replied “no”…he asked if I had time to attend… I said I would find the time.  Why did he go this far with someone who was not a member of NSA.  As the President Elect of the Real Estate Educators Association (REEA) he thought his organization and our organization had common ground.  Now, friends, this is the ultimate in Social Networking!

I’m not sure what NSA got out of meeting me, but I can tell you what I got out of the National Speakers Association:

  • They are competent, dedicated, professional, and in a class by themselves
  • They put on one dy-n0-mite conference – thanks Sarah Michel
  • Their speakers push you to the max with ideas that don’t quit

I had the privilege of being invited to attend a CSP-only session presented by Michael Benidt and Sheryl Kay, Hidden Treasures of the Internet:

“New Online Survival Strategies:  How to Find Real Value in an Overloaded World”, at which, in the Twitter portion, I was introduced as a way in which Twitter can expand your SOI.

My privileged day then included sitting with them at the Conference Chair’s table and sharing the excitement of the speakers, holding the “windbag” with Steve Spangler‘s wife, and making new friends.

…as well as seeing those already in my SOI:  Amy Chorew, Rhonda Hamilton, Doug Devitre.  All are both NSA affiliates and REEA members.

Is there an ROI for Social Networking?  What do you think?

The next day I was in a real estate CE class presented by AAR with Amy Chorew as the presenter.  No disappointment there.  She rocks!  And her passion for what technology can do for your business is her gift to the classroom.

So what do these two have in common?  Me.

Oh no!  I’m not trying to be arrogant.  They both gave me such get-up-and-go that I’m afraid my to-do list will be perpetual.  Keeping up with change is almost a full time job, but to be good, you have to stretch.  I’m feeling like a 300 lb woman trying to get into a pair of Chico size O tights… there’s going to be a lot of stretching going on.


Oh, I might add that the day was probably an expensive one as I will now have to have an iPhone so I can “bump”, apply to the NSA for membership, and plan on adding 3 more conferences to my already committed 8 conference dates over the next year.  Anyone want to adopt and fund one slightly aged, inquisitive, passionate, often outspoken blonde?

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Is REALTOR.com What You Want It To Be?

Did you realize that you cannot put an address in the Search box on the splash page of REALTOR.com and get to that listing directly?

Do you know that you have to scroll down quite a way to find out who has the property listed?  And then you only get a name and phone number unless the broker has paid to “enhance” the listing with a web address, etc.

Does the consumer realize that there are “rules” at REALTOR.com that don’t allow REALTORS to identify the broker who has the listing?  We get fined for violations if there is anything that identifies the listing agent in a photo or even the remarks.

Do you know that if I want to direct you to my website as the listing agent, I have to pay REALTOR.com to “enhance” the website?

It may be the broker’s listing, but REALTOR.com is designed to hand off consumer leads to the person who spends the most money on “enhancing” or advertising with REALTOR.com.

Those of us who truly believe in the consumer being a real estate educated person believe that the more the consumer knows about the property, the more the consumer understands about the property, the offer, and the transaction.  Yet, we direct the consumer away from the listing agent (unless the agent “pays” to get the consumer to the agent).

Anyone else have a problem with REALTOR.com as it exists today?


Filed under AZ CE Courses, Real Estate, Sedona Housing, Technology, Uncategorized

Are You a Real Estate Professional?

Do you consider yourself a real estate professional?

First, maybe we should define “professional” as one who engages in a profession, which can be defined as:  “…a vocation or occupation requiring advanced education and training, and involving intellectual skills, as medicine, law, theology, engineering, teaching, etc…”   Actually the number 1 definition is from the 13th century:  “…the act of taking vows of a religious community.”

That was a revolation!

Are you that committed to the profession of real estate?

This AM I had the opportunity to read Stefan Swanepoel’s “The Wise REALTOR.“.

Thinking back to why I joined the ranks in 1986…actually I was waiting till I could start graduate school in the fall.  What happened next was that I fell in love with being a real estate professional and didn’t make it to grad school.  How about you?

It’s about the good times and the bad times.  It’s about the people.  It’s about being their family REALTOR.  It always has been…

Great read, Stefan.

Kathy Howe

PS.  Maybe that’s how I’ve gotten through 3 downturns.

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Are Listservs a Thing of the Past?

This AM I received an email from a friend and associate who seemed annoyed with some recent postings on the listserv we both subscribe to. She posed thoughts about whether or not it was time to censor some posts or to put the listserv to pasture.

It brought to mind that over the years communication has evolved from grunts and shouts into “tweets”.  Reminds me of the cave man to what I look like at the computer:

From the cave to the computer

From the cave to the computer

We now have so many blogs that it has become a must for a website!  We listen in sound bytes…we tweet and text…we watch YouTube, trailers…  Do we think in paragraphs anymore?

Listservs have been used by companies and associations for the 20 most recent years as a way for employees and members to communicate with each other. Has the listserv as a static means of communication passed its prime?

Or not…  http://www.youtube.com/watch?v=P0512-BOsk

Kathy Howe

Kathy Howe

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