Brainerd Lakes Real Estate News

     There seems to be some confusion on housing market statistics and as usual , it all depends on who is paying for the report. In my area of the Brainerd Lakes in Minnesota, the sales of homes under $150,000 is picking up.  The median priced range homes have slowed and we are seeing a dip in the luxury home market. With that said - buyers are still buying lake homes on desirable lots, tearing them down and building even bigger and "better". Homes are still selling and people are still buying. It seems that more people are putting their homes on the market to test the waters and then pulling them off or not renewing their listing contracts.

     For this reason, I am only interested in motivated sellers - need to sell or really are determined to make that move.  I have now received certification through two programs on Short Sales and REOs as that seems to be what we will be dealing with more and more.  To not be educated on these and to work them is a big No No in my mind. However, after the studying you do need to go for it.   I see others comment that only agents experienced in Short Sales/REO should do them. They were not always experienced, but that is a good way to cut out any competition.

     I am enrolled in the Harris Real Estate University Coaching program and have found that they do keep me up to date on any changes and hints of changes, along with the ins and outs of the processes. Let the 2010 games begin !

video

     When I was young my friends and I were always "digging holes to China". We did not know how far away China was and we didn't care.  We just liked digging.

     China is digging herself a hole now and firmly planting her feet in the sand. Even in a visit and speech from President Obama concerning Internet censorship, free speech was blocked online.

     China has more than 250 Million Internet users and has some of the world's toughest content on what traffic is entering or leaving their network. There are some smart and rebellious Inernet savvy bloggers in China using proxy servers to get around the controls and to speak freely - like we do here in the United States of America every day.  I love the USA- may the name of God continue to stand.

Remember those New Year's Resolution s?  How About Being The Best - That You Can Be?

I am sneezing, coughing and congested.  So are other members of my family including those who came home from Florida with me. I feel fine but am tired (probably a lack of sleep).  They, however are just miserable and have additional symptoms that I thankfully am not sharing.  Fever, chills, thick mucus, aches and a total lack of motivation (so they say).  I think that my problems are due to allergies and they have a cold or the flu.  If you are wondering about your symptoms here is a great link to About.com that will give you some help in sorting things out.  Of course, a visit to the doctor may be in order for some and do not let the Internet be a substitute for good health care!

At my house, these young and healthy individuals should bounce back quickly but since Mom (that would be me) is taking care of them and they are on vacation this could take a while.

photo by Flickr

I am continually being amazed by the brilliance of the talking minds. Joe the Plumber and others have demonstrated a level of intelligence and common sense that is just somehow escaping others. I see those who are capable of great speeches, lying through their teeth and just plainly reiterating what they have been told with no understanding of what that means. We should expect that the so called experts sent out to help our ailing economy should have some comprehension of the subject that they are "helping" on. Is that really to much to expect?  Where are these people coming from and what planet it that?  Maybe there really has been an extra terrestrial invasion!

photo by Sarah G - Flickr

     When your home is for sale, things need to change in a big way.  If you want to leave the lid/seat on your toilet seat up - that is for you and your wife to work out.  However, when your home is listed and people are touring - the seat and lid need to be down.  Seems like a small matter and it is.  It is also only one of a list of things that need to be done to get your home the most showings, the most offers and sell in the shortest amount of time.
     All my signed listings receive a detailed staging consultation and great advice for getting your home prepared for the market. This is a market that is packed with competition.  Unless your home is priced competitively and shows above the competition - it will linger on the market while the others sell.
     Do you want to sell or do you want to stay ? Decide now and then lets get going. This is a great time to get started.  I will advise you every step of the way and offer low or no cost ways to make your home the shining star.
Buyers are looking for move in ready properties that they can quickly personalize in their own way.

Call 218-831-8001 if you are in the Brainerd Lakes area of Minnesota and desiring to sell your property!

photo by flickr

 From the New York Times:

Michael S. Barr, Treasury’s assistant secretary for financial institutions, said in an interview Friday that the government would try to use shame as a corrective, publicly naming those institutions that move too slowly to permanently lower mortgage payments. The Treasury Department also will wait until reductions are permanent before paying cash incentives that it promised to mortgage companies that lower loan payments.

“They’re not getting a penny from the federal government until they move forward,” Mr. Barr said.

I am wondering if shame is the new step to take in getting the banking industry to do what the government wants them to do? It worked when I was young and my Mother used it, but I think there really may be a more adult way and I am wondering who the adult in this situation really is?     

Last month it was reported that fewer than 2000 of the 500,000 loan modifications that were then in progress had become permanent. Has the Making Home Affordable program worked with any of your clients?   We throw the term “loan modification” out there but who has seen real progress in this?  I know of only a few and then not personally but “someone who heard of someone who”.  

I am seeing progress in the time frames of processing Short Sales and the ease of doing so.  By 2010, I do think that there will be a more standardized system and would welcome that. I certainly prefer a Short Sale over a foreclosure.

Until then  “shame on you” – feel better now???

Life is like that sometimes, things happen and we do not know how we will make it through. You are not alone – there is help, there is hope. If you are falling behind on your mortgage payments or fear you soon will be, then perhaps we need to explore your options. A Short Sale may be one of them and is a far better choice that walking away. If you want to get more information and find out how Short Sales work, give me a call or email.

The definition of a Short Sale is:

A Short Sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan. It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the current debtor. Both parties consent to the short sale process, because it allows them to avoid a foreclosure that involves hefty fees for the bank and a poorer credit report outcome for the borrower.

Kathleen Lordbock

REALTOR/Short Sale & Staging Specialist

Keller Williams Realty Brainerd Lakes                                   

218-831-8001 Cell

218-829-0339 Home Office

KLordbock@kw.com

photo by Flickr

Living above " all that "!

     A group of homeowners sought to block foreclosures in Minnesota, but their class action suit has been dismissed by US District Judge Ann Montgomery.  The lawsuit claimed that homeowners were not given proper notice when they were rejected on the right to appeal when dealing with the Home Affordable Modification Program.

     The attorney for the homeowners stated that new regulations have been adopted since the lawsuit was filed in July that address some of the raised concerns but that the process is not as transparent as it should be.

     What has your experience been working with this program?