John' s Real and Legal Blog

Tax Deductions for Homeowners GO AWAY!!

2012-01-17T11:12:00.000-08:00

Federal tax deduction for mortgage insurance premiums expired, Thanks to Congress.

The loss of that tax deduction — plus mandatory new fees imposed by Congress on all new conventional and FHA loans — could effectively increase the costs of homeownership this year

Though its demise drew little attention because of the partisan year-end brawl over the payroll tax cut extension in Congress, a key mortgage financing benefit disappeared at the end of December: the ability of large numbers of home buyers and owners to write off the premiums they pay for mortgage insurance.

The loss of that tax deduction — plus mandatory new fees imposed by Congress on all new conventional and FHA loans — could effectively increase the costs of homeownership this year.

The expiration of mortgage insurance deductibility will hit many low-down-payment conventional loans originated since 2007, plus virtually all new mortgages closed this year whose down payment is less than 20%.

Though industry experts do not have precise numbers, their estimates range into the millions for existing owners and new buyers potentially touched by the deductibility termination.

Borrowers using guaranteed veterans (VA) and rural housing loans, whose down payments can drop to zero, also are affected.

The change in the law took effect Jan. 1 along with the expiration of 58 other tax code benefits that Congress failed to renew, such as credits for home energy improvements, credits for builders of energy-efficient houses and deductions for state and local sales tax payments.

They were all components of what would have been an annual "tax extenders" bill authorizing continuation of relatively noncontroversial expiring benefits for another year or more.

Congress could still reauthorize all or some of the write-offs retroactively this year, but the political atmosphere on Capitol Hill raises doubts about the timing of that scenario.

The mortgage insurance premium deduction dates to legislation enacted in 2006. It allows buyers and refinancers who use either private mortgage insurance or federal insurance or guarantees, and who itemize on their federal tax returns, to write off their premiums.

Borrowers who are single or married and filing jointly with adjusted gross incomes of $100,000 or less can write off 100% of their annual mortgage insurance premiums.

Married homeowners filing singly can write off 50% of premiums. Borrowers with incomes above $100,000 may qualify for partial deductions on a sliding scale.

In many cases, the post-tax savings for these borrowers are significant.

New buyers with an income around $100,000 and a mortgage of $200,000 would save between $600 and $1,000 a year, depending on their credit score and loan-to-value ratio.

For households with lower incomes, the effect would be less, depending on their marginal federal tax brackets.

David Stevens, who served as Federal Housing Administration commissioner and is now chief executive of the Mortgage Bankers Assn., says the loss of deductibility of mortgage insurance hits a segment of consumers — middle-income and first-time buyers — "where affordability is especially important."

But mortgage insurance was not the only housing-related casualty of the pre-Christmas skirmishing.

As part of the temporary extension of the payroll tax cut, negotiators tacked an unusual provision that raises fees on most conventional mortgages — those originated for sale to or guarantee by Fannie Mae and Freddie Mac.

Starting in April, Fannie and Freddie will impose a surtax on the guarantee fees they charge private lenders equal to one-tenth of 1%.

Lenders are virtually certain to pass those fees to consumers in the form of a higher note rate or loan charges upfront. Industry estimates suggest that the surtax could add an eighth of a percentage point to rates and raise costs to borrowers over the life of the loan by more than $4,000 on a $200,000 mortgage.

Unlike standard guarantee fees, which are used by Fannie and Freddie to defray loan-default expenses, the new consumer funds will be sent directly to the Treasury to help pay for the $36-billion cost of the temporary payroll tax cut.

At a time when the Federal Reserve is warning that there can be no broad economic improvement until housing recovers, it may strike the public as odd policy to raise costs for home buyers and refinancers to fund unrelated, temporary tax relief.

But that's not the way they saw it on Capitol Hill in the rush to holiday recess.

Bottom line: The mortgage insurance deductibility problem may disappear if mortgage insurance gets included in an election-year "extender" package.

But the fee hikes on most new mortgages are here for the foreseeable future.

I warn you, keep an eye on the Government who is trying to reduce the debt, someone must pay,

and usually it is the homeowners who get tagged with the bill.

gathered up by John Hacker

Home Owners Pay for Payroll tax Cut

2011-12-24T09:40:00.000-08:00

The Government Giveth, and The Government Taketh Away!

I was walking past the City Hall in Irvine and realized I was in the midst of the “OCCUPY IRVINE” group.

I smiled and walked on, then a gentleman stepped in front of me and TOLD me,
“I bet you are part of the 1%,”

“Actually”, I smiled, “I am part of the bottom 30%”,

He thought about that as I walked around him.

“I thank you for the extra expense you added to my home mortgage.”

I turned toward him as walked on by.

He still looked confused.

Here is how it works,

On Friday Congress unanimously approved the two month extension of the 2% reduction in the employee contribution to Social Security as well as a temporary extension of the 99 weeks of unemployment benefits.

Ok that sounds good.

But what the Government giveth, it will also taketh away.

Homebuyers will pay the cost of this program, ($33 Million estimate).

The cost was added to the “Fees” lenders PAY on Freddie Mac and Fannie Mae loan guarantees.

Lenders pay about 27 bases points for the loan guarantee.

The new payroll tax bill would add 10 more basis points to the process, this according to the Mortgage Bankers Association.

Ok, Occupy folks would say “Hey it’s a small price, about $12 a month or $4000 over the life of a $200,000 loan.”

This will be imposed on Freddie and Fannie loans until 2021.

Once again homeowners get stiffed.

Living in Tent, maybe the next step.

John Hacker

and info from the OC Register.

Embracing Real Estate Technolgy

2011-12-12T16:21:00.000-08:00

How Internet tools Are changing home buying

Jeff Collins recently wrote is his column,

In the not-too distant future, homebuyers will be searching for homes on their smart phones and tablet computers while driving through neighborhoods.

People want to literally drive by the house and want to be able to do their inquiries in the neighborhood right now!!

There are many handheld apps, one is Smarter Agent. If you go to the app and you literally just click a button that says, “Homes for Sale” it takes where you’re sitting and it will literally load homes for sale right in the vicinity you are in.

Online listings have evolved. It started in 1998, when Realtor.com was formed, so it’s really been closer to 13 or 14 years for online searches.

If you think about the classified ad model, it was very much you pay to play.

Today most Apps are free or very inexpensive.

But the foresight of the real estate community was that we know that we need to have every home listed. It must be accessible to the public.

Steve Berowitz has said in a recent interview,

Social (media) will be the next (thing). It will be a very important part of the future of real estate, and how we integrate social and your Facebook information, or your personal Likes into the search experience.

In 10 years, house hunting is going to be very much of a mobile, social experience.

At the end of the day, people will still buy a home by walking through it.

However tools for searching and looking at the property and the area it sits will continue to evolve.

House hunting is going to be a much richer, more integrated experience. You’re going to have so much focused information about the schools, the neighborhood, walking distances.

You may even be able to have information about your neighbors because people will bring the social aspect of it. You’ll be able to see their Facebook page and know if they have kids.

It’s pretty scary, actually. But think about what’s happening today and how much we know about everybody.

Think about it. If video games are so real, there’ll be technology in which the home itself will be rendered.

You’ll be able to walk into the home, and on your iPad say, “What will the kitchen look like if I remodeled it this way? How much will that cost me?” All of that stuff will be at your fingertips.

It’s an exciting time to be in Real Estate as long as you embrace the technology.

John Hacker, Unity West Realty, 949-275-3247

HARP part duex

2011-11-15T08:52:00.000-08:00

HARP Refinance Program Expanded

Borrowers who are current on their home loans may be able to refinance for lower interest rates, even if they are seriously upside down.

The Federal Housing Finance Agency (FHFA) announced that it will broaden the scope of the Home Affordable Refinance Program (HARP) by removing the current 125 percent loan-to-value cap for fixed-rate mortgages backed by Fannie Mae and Freddie Mac.

Other program enhancements include, among other things, reducing certain fees, eliminating the need for a new property appraisal if the FHFA has a reliable automated valuation model (AVM) estimate.

Extending HARP until the end of 2013. New federal guidelines for the HARP changes should be released to mortgage lenders and servicers by November 15.

The basic eligibility requirements for an enhanced HARP loan are as follows:

Existing mortgage loan must be owned or guaranteed by Fannie Mae or Freddie Mac.

To check whether a borrower has a Fannie Mae or Freddie Mac loan, go to http://www.makinghomeaffordable.gov/get-assistance/loan-look-up/Pages/default.aspx.

Existing mortgage loan must have been sold to Fannie Mae or Freddie Mac before June 1, 2009.

Existing mortgage loan cannot have been refinanced under HARP previously (except for Fannie Mae loans refinanced between March and May 2009).

Current loan-to-value (LTV) ratio must be more than 80%.

Existing mortgage loan must be current, with no late payments in the past six months, and no more than one late payment in the past 12 months.

See you later on any updates

John Hacker

National Association of Realtors Convention

2011-11-13T11:17:00.000-08:00

The New Normal and Low Interest Rates.

At the National Association of Realtors (N.A.R.) convention in Anaheim this past Saturday I sat in and listened to two discussions about the Real Estate market.

Jeff Collins of the OC Register was interviewing Gary Thomas the President-elect of NAR for 2013.

Jobs is the key to recovery, has been and will always be the driving force to a good housing market and of course is key to our housing growth in our local market.

The national and world economic struggles are also a factor, but its all about jobs that is needed to help renters to become homeowners and first time buyers to enter the market.

Realtors and mortgage lenders must embrace information and technology, information is power, technology is a must.

The consumer demands both!

Today’s buyer and seller has access to so much information from the web, that the industry must always be ready to help the client understand this information.

Be a source of information and technology, no fancy footwork, just great service and be a good listener and be ready to get more information to today’s very savvy consumer.

One note brought up was the new normal for Real Estate and Mortgage offices,

CONSOLIDATE which in in my words is all about “lean and mean.”LOW RATES FORCAST FOR TWO MORE YEARS!!!

Jeff Collins also noted that the latest UCLA forecast has predicyed that while interest rates have been at a all time low they see this all time low to remain until 2013.

The UCLA report indicates that mortgage rates will not go much higher over the next two years. Rates will average around 4 percent in 2012 and maybe go to 4.5 in 2013.

The forecast then projects a steep rise in mortgage rates in 2014, with interest rates averaging 7.3 percent from 2015 through 2017. Source; UCLA Anderson Forecast.

Jeff Collins has gone on to write about the OBAMA PLAN:

The program offered under the two year old Home Affordable Refinance Plan, (HARP).
It is designed to raise the loan amount ceiling made above the value of the home.

Currently ceiling for refinancing is 125 percent of a homes value. That ceiling to be removed for a fixed-rate mortgage that is backed by Fannie Mae and Freddie Mac. Several mortgage brokers have indicated this would be good for the housing market and the local economy.

Paul Scheper a Mortgage Regional Manager calls it a classic “ win-win-win”.

The good news to this is no appraisal and nominal under writing rules to those who qualify.

Laguna Niguel Mortgage broker John Lazerson seems to think that the program will encourage more lenders to participate because FHFA essentially promises lenders that Fannie and Freddie won’t have any recourse if these loans go bad.

That, he says will increase price competition among lenders.

That’s a WIN-WIN for the consumers.

Last note from Jeff Collins;

More than a third of OC Homes Distressed.

No surprise there.

Compiled by John Hacker (01313169), Unity West Real Estate Sales Manager, Newport Beach, California.

Today's MBA of Selling and doing Business

2011-11-01T08:12:00.000-07:00

I just read , The Mackay MBA of Selling in the Real World, "Harvey Mackay's economic stimulus plan."

It's custom-tooled to boost the take-home pay of sales pros, from novices to veterans.

It is also great for Business owners in day to day revenue building.

Right now, war is raging between the old school of pound-the-pavement sellers and new age techno-mavens.

Should you still smile-and-shoeshine your way to prospects? Or do you poke the traffic of today's 200-million Tweeters?

Truth is: You better master both. And this book lays out the two worlds with 100 percent ease-of-access.

Coaching legend Lou Holtz, who wrote the introduction, calls Mackay a "playing-field psychologist without rival."

I met Lou Holtz once and he really brings home the importance of knowing your customer, and clients and how to respond to them.

I found a few tips that I think readers are going to find most valuable in this book.

Nothing can ever beat a hungry fighter with a positive attitude.

Success is 90 percent mental, and your attitude determines your altitude.

I am an optimist. It does not seem too much use being anything else.

The difference between failure and success is doing a thing nearly right and doing it exactly right.

Selling is a skill, and you need practice to perfect it.

Practice makes perfect . . . not true.

You have to add one word: Perfect practice makes perfect.

The Beatles performed together live 1,200 times before their 1964 breakout success!

* Confidence can do, well, . . . almost anything!

* I will beats IQ nine times out of 10.

* Believe in yourself or no one else will.

* Do your homework on your clients, I have used "The Mackay 25" checklist on how prospects communicate.

* Know the channel of choice. Some cell phone hounds are strictly texters.

If the customer is a company, do you Google for breaking news? Are you tracking the vast resources of the Invisible Web?

Stay true to yourself at your very best. You can't play outside your range. At the Super Bowl, play the game that got you there.

* Person-to-person contacts remain the single most reliable way to build a durable sales base.

* Learn the new one-two punch of sales. Master the one-on-one, in-person sales closing. But use giveaways like webinars to woo and pre-qualify prospects. Precisely designed pre-qualification programs allow you to create a range of pitch-perfect approaches to reach the total market.

* Recognize that a stint in sales is essential experience for more-and-more CEOs. In all businesses and organizations, everyone is a sales person of one sort or another.

Mind the new twist to the old sales stereotype: Rather than being flamboyantly egocentric, modern sales successes are listening-driven and customer-centric. And because many products are so much more complex, more sales are the work of well-oiled team approaches.

Sales mastery isn't just a profitable business skill.

It's also a great tool for living life well.

Salespeople learn resilience is indispensable. They know failure is not falling down, but staying down.

The Mackay MBA of Selling in the Real World is one of his best books ( I have all them all and he has signed them all for me). . . with advice you can take all the way to the bank.

Bottom line: You can't direct the wind, but you sure can shift the sails.

John Hacker 949-275-3247

Steve Jobs and the NET

2011-10-06T11:51:00.000-07:00

The Net honors Steve Jobs;

While Steve Jobs did not invent the internet he sure is close to be the god father of the internet.

I would say he put the “Net” into networking.

What triggers career-shaping interpersonal attraction is changing.

A mind-bending Tweet or an imaginative Facebook Poke can snip through "Six Degrees of Separation" in a nano-second.
What one used to know about networking might have landed you onto the playing field. Today it may not even click you through the stadium turnstile.

Harvey Mackay’s book, Dig Your Well Before You're Thirsty is a networking classic.

While the tried and true principles he describes in it can still work wonders, I hasten to add: Networking is an ever-changing art. The nine most important new things he has talked about and I agree about networking are:

1. Don't network all prospects the same way. There is no cookie-cutter style that will gain you easy entry into every network. Tailor your pitch to each group. For Bostonians, sometimes humble Roxbury roots count far more than a fancy Beacon Hill address.

2. Create an appealing, inspiring presence for yourself in social media. Make sure that it seamlessly supports your professional and business goals. Constantly update it and pay special attention to the list of colleagues who link to you as peers. Share insights and tips. This is becoming an opportunity area for businesses, too. In a column for the brainyard, David F. Carr notes: "InboxQ . . . makes a tool that mines Twitter posts for unanswered questions that can be turned into sales leads." When you do offer help, accent what's constructive . . . not self-serving.

3. Monitor the networking capabilities of subordinates. Networks are so powerful because of how well they expand reach. Your own network is never enough. Whenever you recruit team members, learn about their networks. Industry and community contacts can open untold doors, and they speak volumes about people's values. Make networking goals as tangible and measurable as you can. Challenge subordinates to link networking to their personal development.

4. Emphasize your mastery of teamwork. In today's leaner, faster-moving organizations, executives are increasingly picked for their ability to inspire and integrate teamwork. GE legend Jack Welch exemplified teamwork -- well -- electrically!

5. Plan your networking timeline. Look at where you want your business or career to be in five years and the contacts you will need in order to prosper and excel. The higher the goal, the slower and more demanding the access ramp. Cultivating future networks is second-nature in great politicians. Ronald Reagan's road to the White House in 1980, experts say, was ignited by a speech he gave to support the losing Republican campaign in 1964.

6. Be a competitive, sharp-eyed ally. Everyone values competitive insight. Respect business and trade confidentiality, but help others piece together challenges and threats they might neglect. There's always a place in the dugout for someone who can pick off the other team's signs.

7. Showcase your developmental prowess. Top executives increasingly want to know the answer to one question in evaluating other industry leaders for any role: What top people have you developed and where are they today? Make it a point to keep success stories you helped to groom part of your network.

8. Collect mentors. Nostalgia and sentimentality may attach you to the same mentor who brought you along in your earlier years. Be respectful, but add new mentors to your list as you set your sights higher or fine-tune your direction.

9. Teach your children to network in a disciplined way. In Connecticut, I spotted an ad for "Generation.Next: Dale Carnegie Training for Teens." Networking is indispensible for summer internships and first jobs. Networking may also be one of the most overlooked family values . . . and assets.

As Harvey Mackay would say do not over look the net in networking.

I hope heaven enjoys the new upgrade now that Steve jobs is with them.

Short Sale Process means TEAMWORK

2011-07-31T15:49:00.000-07:00

How tight is the market for distressed properties in your world? Any recent changes in conditions?

Question asked me almost daily.

Yes, it takes time, patient and one major element, that most Realtors miss:

It also takes TEAM work to process the transaction.

If a short sale or foreclosure becomes available at a saleable price, there are multiple offers on it. This is especially noted in the below-$500,000 price range where demand exceeds supply by far over last year.

You need a strong team in place to help the client, (buyer or seller) get through this hectic process.

lenders are out of touch with the realities of the market. They bury their heads and claim they are not responsible.

There is a new law that Govenor Jerry brown has put in place to help the sellers through this mess, its SB458, this ensures any lender that agrees to a short sale must accept the agreed short sale payment as payment in full of the outstanding balance of all loans.

This law applys to jumior lien holders. Thats a big change.

There are 3 obstacles that the lenders throw in front of a short sale process.

1. Slow response time.
2. Loss of paperwork
3. Poor communications from lender.

The last survey taken, is that it took more than 60 days for the banks to respond to a short sale approval or disapproval, (soundsl like congress doesn't it)

But with a team in place, from escrow, title, appraiser, and yes even a local lender representing the buyer, things can get woked out.

One thing I always preach,

"The Realtor is the leader"

He or she must set the pace, keep communications going, follow up on every one and every piece of paper. By doing that, the team stays focused, and results do happen.

What kind of buyers are we seeing for distressed properties, in general?

There are multiple bids and the investors, and all-cash buyers, are winning out. Those willing to close quickly without a lot of contingencies are the big winners here.

However, the FHA has put a moratorium on the investors in that they cannot enter contract to sell to a buyer until 90 days has elapsed from their acquiring the property.

Even conventional banks are looking at that as being flipped to make sure the value (appraisal) comes in.

Whats the biggest surprise out there when dealing with short sale buyers?

Unrealistic expectations that many have regarding the price they can pick up a distressed home for.

Buyers that wanted to bid 10% below even that asking price. I hear this quite a bit: “10% below.” Maybe it is coming from seminars on how to purchase foreclosures, but it has no basis in fact.

There are very often of totally unrealistic offers “because the bank wants it off their books.” That’s another urban legend.

The banks have a duty to their investors and to protect the other properties in the area that the banks have a vested interest in — in the form of outstanding mortgages within the community.

The banks do not want to further erode the equity position they currently have.

The key is working with the banks, being professional, when they say paperwork is lost, then we are proactive, why argue and cause frustration? They too are under the gun, maybe they did lose the paperwork, but we are in a better position to get a new copy to them.

Team work in action!

We have completed 100% of all our short sales, but not because of the banks helping. In every single case, if we were not contacting them several times a week, they would not close.

The banks (every one of them) are a mess, overwhelmed, undereducated (lack of effort on the bank employees part), with systems (or lack thereof) that vary from negotiator to negotiator, even within the same departments.

The banks are willing to close and always have been, but they lack structure and an understanding of the process.

Many of my clients have asked me when we’ll see a market bottom — whether in your neighborhoods or in the regional overall?

Bottom has occurred already in the under $400,000 range. We still have people waiting for the $200,000 range which isn’t going to happen. When you can rent homes out for more than the mortgage payment, investors swoop in and rightfully so.

Numbers (rental incomes) don’t lie, it makes financial sense to invest.

So lets get together to discuss how to present short sale offers, let me go over my 10 point guide to buyeing a short sale and my 5 point sellers program to selling a short sale.

Then you will be introduced to the team that will make it happen and keep youi sane.

John Hacker

Unity west Realty Group
www.letsgobuyahome.com
jhackerleads@cox.net
949-275-3247
face book at Southern california Real Estate Consulting

ART Season in Orange County has arrived!

2011-06-23T11:57:00.000-07:00

Art Fair Arrives:

Summer has arrived and so has the great ART season of Laguna Beach.

My wife and I attended the Private premier opening of ART A Fair in Laguna Beach this past week.

What a pleasure to see all the art works offered from our local artists.

There were over 125 renowned artists from local to artists from around the world there.

What a sight!

What great Wine!

They shared their passion of art and you could see it in their work.

The night was cool with overcast, but the art was hot and enjoyable!

The Sawdust Festival opens this week. If you have never been, then put it on your “BUCKET LIST”.

A great place to bring the kids, listen to great music and more great ARTIST at work.

The Thursday night jazz art gallery will once again be going on each week at the Pagent of the Masters.

Watch for the opening date.

More great Art, fantastic jazz and great WINE!

The galleries in Laguna Beach is agreat way to learn more about the artists themselves, there is a great FIRST THURSDAY of each month, Art Walk through out the town.

You meet some great people, dine at great restaurants and of course enjoy more great wine!

We are so blessed to live so near this art center, and it is great way to escape from the hassles of daily grind and enjoy our great cool nights, take in some great ART, and sip a little GREAT WINE!

By the way the food is good too!

John Hacker

949-275-3247
www.letsgobuyahome.com

Jhackerleads@gmail.com

UCLA ECONOMIC FORECAST is HERE!

2011-06-16T15:19:00.000-07:00

The GOOD, the BAD and the UGLY

UCLA forecasters have seen the future of California's housing market, and it looks like this: more apartments near the coast, fewer Mansions in the desert.

That prediction is based on several factors, including expectations that rising fuel prices will encourage people to live closer to jobs along the Southland coast and in the San Francisco Bay Area.

I have always said stay west of the I-5.

The state's population is also skewing younger, meaning there will be more demand for urban rental units and less demand for suburban cul-de-sacs, according to the quarterly economic forecast released Wednesday by UCLA's Anderson School of Business.

"Many of the younger generation have been buffeted by the boom and bust in the housing market, and see value in living closer to work." From UCLA economist.

That's bad news for the state economy, however, for two reasons.

One is that construction of multifamily homes requires less labor than construction of single-family homes.

Second, areas such as the Inland Empire and Central Valley that were hit hardest by the housing bust won't get a construction boom to help pull them out of the economic doldrums.

California won't start adding a significant number of building permits until 2013, forecasters say.

Which is one of the reasons the state's unemployment rate will stay above 10% until the middle of that year (2013).

Nonfarm employment in the state won't return to pre-recession levels until 2014, and construction employment won't reach those levels until at least 2021.

It was published that in a typical recovery, you get a bounce-back in housing and hiring of a lot of construction workers, we're not seeing that this time, which definitely slows the recovery, and slows economic growth.

Changes in the state's demographics are driving some of these shifts, forecasters say.

Household formation has slowed in California as the unemployed have moved in with their family members to save money, leading to less demand for new homes.

In addition, California is one of the youngest states in the nation, according to census data, with a median age of 35.2, compared with 38.0 in New York.

Although there are many Gen Xers of home-buying age in the state, many bore the brunt of sub-prime mortgage and housing bubble crash, and now do not think a home is a safe investment.

The market is already responding to this trend, according to UCLA.

Building permits for single-family homes have continued to decline while permits for multifamily complexes are starting to regain strength.

Permits for multifamily homes are now at 40% of the peak number, comparatively stronger than permits for single-family homes, which are at 20% of their previous peak.

These housing issues, coupled with the financial pain experienced by state and local governments, will keep California's unemployment rate at an average of 11.7% this year and 10.9% next year.

This information compiled from UCLA economic report for 2011 and beyond.

Any further information please call me directly.

Thank you,

John Hacker

949-275-3247
www.letsgobuyahome.com
dre 01313169
Jhackerleads@gmail.com

e=leasing advice on the RENTAL Market

2011-05-08T11:23:00.000-07:00

Is renting a home the new american dream?

Competition is heating up as more Americans choose to rent instead of buy.

And that increase in demand is driving up rent prices in some markets.

Our goal at e=leasing is to help renters and owners, get the best lease and the best tenants.

We do not charge anyone with upfront FEES.

Here are some tips for getting the best deals.

Work rental websites. Looking for an apartment in a large rental community? Start with Rent.com, a site where you can analyze and compare rent prices. But if you're looking for a unit owned by a smaller apartment company or a condo unit being leased by the owner, start out on Craigslist.org.

We have a whole campaign in place and it works for us and our clients. .

HotPads.com features rental and for-sale home listings from 400 partners, including multiple-listing services and brokerage companies. Cazoodle.com pulls listings from nearly 10,000 websites, including newspaper classifieds, online forums and individual property management sites.

e=leasing uses this weekly.

Spread the word. Sometimes you can get into a great apartment through word of mouth before it hits the market. We at e=leasing are costantly looking for owners who wish to lease their homes early.

Which leads to this point, Consider a single-family home.

Homeowners may be renting out their condos and houses because they're having difficulty selling them in this market.These properties are often priced lower than other rentals, partly because they may not come with the same level of amenities and owners may be more motivated to get their places rented.

Look beyond rentals. With the housing market still weak, we ask home sellers if they'd be willing to rent instead. Many are.

WHY? Just call me to discuss.

Compare rents. After finding a place you're interested in, look for comparable rentals to make sure its rent price is competitive. We research prices to shows how rentals compare with others in the area.

Flaunt good credit. If you have good credit, we use it at e=leasing to help you stand out against other possible renters.

We package our tenants, to present it to owners. We compared how other realtors, and leasing services package their tenats and we are heads and shoulders above the rest.

Owners, the same formula, I see mls listings for beautiful homes to lease and many have zero pictures or maybe 3 or 4 at the most, and of course NO video.

What a shame, and the consumer has not asked their agent for a look at the marketing, because they have none.

Tenants and owners who are interested in leasing their homes are often looked upon as a pain by most realtors and some services.

Well we stopped that thinking when we created e=leasing some time ago.

Be aware and ask questions, use a service that is going to work for you, whether you are a tenant searching for a lease or an owner looking for a competent agent to serve you.

ASK QUESTIONS, after all at e=leasing, we work for you.

John Hacker (01313169)
Director
e=leasing
949-2745-3247

leaseocbyjohn@gmail.com

110% equals What?

2011-04-14T09:24:00.000-07:00

Discipline is the order of the day

Most people aim to do right; they just fail to pull the trigger. For whatever reason, they just don't have the wherewithal to finish the job.

They are lacking discipline.

"Discipline is the foundation upon which all success is built. Lack of discipline inevitably leads to failure," said the late motivational speaker Jim Rohn.

It doesn't matter whether you are pursuing success in business, sports, the arts, or life in general. Hope is not an option. The difference between wishing and accomplishing is discipline.

In Real Estate, descipline is everything.
Descipline means giving each day, 110 percent.

Many agents talk about doing business, only a few apply the 110 percent rule and actually do the business.

My definition of the word is as follows:

1. Do what has to be done;
2. When it has to be done;
3. As well as it can be done; and
4. Do it that way all the time."

Discipline is all about sitting down and setting goals, figuring out a schedule to achieve those goals, and then following your plan.

The formula is have a no-nonsense attitude, work hard and improve every day. Arrive early and stay late if that's what it takes to get the job done.

It has been said always go the extra mile, which is one stretch of the highway where there are seldom any traffic jams. And few people are trying to pass you.

I say in Real Estate it is meeting people everyday, stop preparing to meet people and just go out and the things that get you on the phone or in front of future clients.

It's the old adage: the more you put in the more you get out.

Good intentions aren't enough. People have good intentions when they set a goal to do something, but then they miss a deadline, "an hour of power as I call it".

Suddenly it gets a lot easier to miss again and again and again.

A top agent I know said:

"The only way one can become proficient at anything is self-discipline and dedication. The people who succeed are the ones that really do not let personal feelings get in their way from giving their all in whatever they choose to do.

The superstar realtors are people who are willing to do and give a little bit more than the others who do not succeed."

Another Real Estate legend maintained: "An agent's got to know the basics of the business how to execute.

Next, you've got to keep the agent in line."

That's discipline and what every good manager must have. It's not enough as a manager to teach your employees how to do the work. You also have to provide the motivation that keeps them moving forward. Perhaps most importantly, a good manager must model self-discipline.

To me it is better to prepare and prevent instead of repair and repent.

I like the way Jim Rohn described discipline: "It is the bridge between thought and accomplishment ... the glue that binds inspiration to achievement ... the magic that turns financial necessity into the creation of an inspired work of art.

"Discipline is the master key that unlocks the door to wealth and happiness, culture and sophistication, high self-esteem and high accomplishment and the accompanying feelings of pride, satisfaction and success. Discipline will do much for you. More importantly, though, is what it will do to you. It will make you feel terrific about yourself."

Descipline is doing our work at 110% level.

John Hacker and friends
949-275-3247

Never Be REFFERAL Aversion

2011-03-23T15:01:00.000-07:00

Sometimes we are afraid to ask for referrals.

We do not want to bother people and ask them for a referral. They may think badly of us, AND we are afraid we may mess up the transaction of the referral.

There has to be a new midset and yes even a skill when asking for referrals and the follow up.

My mentor Harvey Mackay, wrote books "like Dig you well before you are thirsty" and "The e-mail roladex" had some great ideas that I have used in my business over the past 10 years.

Respect the Process.

A referral is another persons most valued relationship.

One coach I know calls it "HOLY GROUND"

Brian Buffini uses the catch phrase, "Oh by the way...." its cute and can be effective but sometimes it could cheapen the process. Be careful when asking, it should be an honor and and showing respect to your client.

It is a business request, it should be framed in a business like approach, not a forgot to mention type approach.

Its a business question, do not cheapen it.

ASK for help and mean it.

Many times agents may think it is beneath them to ask for help. The ole ego gets in the way.

A key phrase I find that helps is "I value your help."
Your clients really do feel good about helping you.

Here is my favorite statement to the client I just served;

I am so delighted to have served you, I am hoping you may know of others that you know who would benefit from my service.

AVOID AUTOMATED QUESTIONS, you only get AUTOMATED answers.

Be specific when asking for a referral, if you do you will get specific answers and referrals.

Always keep good information about your clients, what their interests are, their hobbies, names of children, organizations they belong to.

Pass on any information about their world that come across, share it with them.
Send them things of interest to them. It really works.

Call them on a planned time, I call this the power call.

Great for catching up and asking specfically for referrals.

People like to do business with people they know, I hate cold calls, I make them, but my bank money is prospecting for referrals from people I know.

You know it works, you just have to;

"Dig your well before you are thirsty."

Thanks Harvey and Jim

I was in the front row listening to you.

John Hacker

Realty One Group
jhackerleads@cox.net
www.letsgobuyahome.com
949-275-3247

Success Tips for April

2011-03-21T13:45:00.000-07:00

The road to millions is paved with hard work

There is no secret to success, its hard work, adaptability and a commitment to meet your clients needs.

Achieving financial success isn't a game -- it's a way of life.

Some will object to the notion that making a lot of money is the same as achieving success. I understand that argument, and I agree that success comes in many ways besides just a bigger payday.

But I will submit that most of us expect our financial situation to improve as we become ever more successful at what we do. There is no shame in being rewarded appropriately for our hard work. Ambition combined with our best efforts should have positive results.

As Oprah Winfrey so eloquently put it,
"Doing the best at this moment puts you in the best place for the next moment."

Here are some secrets I often share with others about Success.

Knowledge is power, take advantage of the training that OCAR offers each month.

Set some clear goals. You have to dream big if you want to succeed on a large scale. Don't be afraid of your ambitions.

Start with a list of what you want to achieve in April. Then get busy.

Serve other people. Structure your goals so they're not just about you. But be picky, as my coach tells me, “you are a 7 out of 10, do not work with 6 level or less, stretch and work with the 8’s and 9’s.”

You'll earn support from the people whose help you need by showing them how your achievements will benefit them.

Learn to sell yourself. Whatever you create, you have to sell to someone else.

You'll need to understand sales and marketing no matter what industry you're in.

But at the same time, you have to sell others on your abilities.

Be honest and reliable so clients know they can trust you to take care of them.

Think of yourself as your own CEO.

That means taking full responsibility for what happens to you -- your decisions, failures and triumphs.

Put all your energy into your goals. Motivational guru Brian Tracy advises taking the "40+" approach: You work 40 hours a week for survival. Every minute you devote past that 40 hours is devoted to your success.

There's no secret to success. It's just ambition + hard work + dedication.

Bottom Line: We do what we have to do so we can do what we want to do.

John Hacker

jhackerleads@gmail.com

REO Leader www.letsgobuyahome.com

Realty One Group Irvine,California 949-275-3247

2011 May be best time to buy and END Crash

2011-02-27T10:52:00.000-08:00

There might finally be some good news this year about the nation's dismal housing market. Or, at least, the bad news could stop.

Either way, it will be welcome relief for current homeowners as well as for potential real-estate investors. Reasons to be optimistic have been sadly lacking since the housing bubble burst in 2006.

For sure, last week we learned the widely watched S&P/Case-Shiller home-price index fell 1% in December, its fifth straight decline. The index tracks 20 major markets.

But that figure belies real reasons to be optimistic, according to some experts. If they are right, it might make sense to jump into real estate. .

Houses Are a Good Deal

Housing is the most affordable it has been in decades, according to analysts at Moody's Analytics. They don't just look at house prices. They also look at incomes.

Nationally, the cost of a house is the equivalent of about 19 months of total pay for an average family, the lowest level in 35 years. Prices usually average close to two years' pay, although that varies nationally.

In the end, it will be affordability that will drive people to buy homes.

Pricing is down so much in some markets that when you analyze renting versus owning it makes much more sense to own. Noted by Michael Larson, a real-estate analyst at Weiss Research in Jupiter, Fla.

It is definitely bullish. But what about timing?

"Housing prices will probably bottom in 2011," says Scott Simon, a managing director at money-management firm Pimco in Newport Beach, Calif. He foresaw the housing crash, helping his firm dodge losses that plagued Wall Street.

Mr. Simon says prices might dip another 5%. Still, in the scheme of things, that's small. Consider this: In some markets, home prices have fallen by half or more since 2006.

Investors Stepping Up

Here's another sign the market is nearing a bottom: Investors have started to buy up houses and condos, in some instances paying entirely in cash.

That's a far cry from the heady bubble days when borrowed money seemed the key to riches. The bubble-era speculators who got burned tended to buy at the peak and borrowed heavily to do so. When the crash came, they quickly saw their wealth erased.

It's a sign that these investors are betting on a rebound.

Investors buying at current prices are looking for deals, or so-called bottom fishing. They typically like to pay entirely in cash (or with a relatively small loan) to speed up transactions.

That can be vital for an investor wishing to lock in a deal fast.

If this is a turn in the market, then it might make sense to go out and buy a home.

But, buy in areas you really know.

Plan to Stay Put Buy and hold.

While the good news is that the worst of the housing crash might be over, the bad news is that the fast gains of the glory days of 2005 and 2006 won't be back any time soon. So to cover the costs of buying and selling, and what could be a prolonged recovery,

plan to own for more than 5 years.

Also remember that borrowing money to buy a house can still be risky. If you pay for a $100,000 property with $20,000 cash and borrow the rest, a dip in the value of $20,000 would leave you with zero equity. On top of that, you'd have to pay to maintain and repair the property, something not necessary when renting.

For more information about Investing in real Estate please call John Hacker and his team at Realty One Group, (01313169) telephone 949-275-3247.

www.letsgobuyahome.com

jhackerleads@gmail.com

Residential Apartments as an Investment

2011-02-22T15:00:00.000-08:00

Residential Apartment Buildings vs. Other Real Estate Investments

This is one area of the real estate market that is not in any danger of busting as though in a bubble any time very soon.

Investing in residential apartment complex is a smart idea for anyone looking to get in on the real estate market and make a profit.

These kinds of residential apartment complexes are often the mainstay housing areas in any city.

These are the tried and true areas of living spaces that are not going to fold and explode the way ‘McMansions’ and other cheaply constructed “luxury” homes did just a few years ago.

If you are interested in investing in residential apartment complexes, the first thing to do is to research any potential markets that you might want to buy property in.

You need a team in your corner, our team.

Visit the city, if it is not the city that you already live in, and be sure to check out all the residential apartment complexes that are candidates for your investment money.

Use your team to help you.

You will want to make sure that you choose a complex that is in a desirable area of town that will not lose value during the time in which you have your investment money tied up in this property.

Ideally you want to find a city with strong growth potential in which people are planning to move there for years to come.

Again use your team.

The more people want to be in an area, the more the value of these properties will go up.

Your team can help you.

Another way to try to profit off investing in residential apartment complexes is to invest in a building in which renovations are planned.

Renovations always drive up property values, so if you find something like this when you are researching your options, it is in your best interest to sign off and get a piece of this while you still can.

As always, in any investment opportunity, be sure to research all aspects of the business before you go into it or put money down.

Use your Team.

Read all contracts carefully to make sure you understand all the terms and conditions.

Your Team will help you with this!

When looking at the differences between investing in multi-unit Residential Income Properties and Single-Family Residences (SFR) or condominiums, we find that advantages such as cost, time, overall effort, savings, and reduced stress favor investing in Residential Income Properties in many ways.

Then, consider the exponential benefits of buying a group of units in a single transaction versus buying several units in multiple transactions.

When buying an apartment building, the cost-per-unit is lower. The greater the number of units in the building, the larger the cash flow, and most likely, the larger the profit will be when the building sells.

Your Team can help with the CAP Rent Rate formulas.

When all is said and done, the economy has little effect on an investment in Residential Income Property.

Regardless of what is happening on Wall Street or in the overall business environment, people need a shelter.

One wonders: When will all this end? When will real estate stop appreciating in value year after year, decade after decade?

The answer is simple – theoretically, NEVER!

Why? Because so long as the population is expanding, and so long as people continue to move into our neighborhoods, the demand will always be there.

This is why it’s smart to take the time to learn how to invest for the future, now.

Consult with YOUR team.

One should lay a new foundation for growth as soon as possible, without delay.

Smart investors among us are imagining and planning their future now by applying all their knowledge into investing activities today, not tomorrow.

There’s a reason why some of the world’s richest people in America have made their fortune in real estate.

And, they made it by investing in commercial real estate, not in residential real estate.

It is just like a real business with a balance sheet, P&L and a cash flow that it must produce to survive, to be valuable and grow.

Positive cash flow happens only when a property produces more income in rents than the owner’s costs to maintain and service the property.

While the market is taking a beating, a positive cash flow property is still producing an income (passive residual income).

It will continue to do so every passing month until one day the market starts coming back – at which point the owner can put his property on the market and sell with further profit if he chooses. The downtrend never affects the investor.

While everyone else was concerned about the housing market, the investor was generating an income and building an even higher equity position in his respective investment property.

The benefits of multi-unit Residential Income Properties over other types of real estate such as SFR and condominiums are countless.

Let us show the benefits, and when you compare, you too will want to consider Residential Apartment Buildings to grow your real estate wealth. for future gains.

Your Team is here and ready to serve you!

John Hacker and Andre Saffarina

Some 2011 Business Outlook to Consider

2011-01-28T08:15:00.000-08:00

Attended UCI Annual Business Outlook and here are some interesting notes I took,
Enjoy the Read.

Overall growth: 2.8 percent - 3.3 percent.

Inflation: 1.3 percent -1.5 percent.

Unemployment: Slowly declining; currently at 9.4 percent; won't hit 8 percent until 2012.

The "normal" rate for unemployment will be 6.5 percent -7 percent, not 5 percent.

The key to lowering unemployment is retraining construction workers for other jobs and "making Detroit our China," meaning building high-tech manufacturing facilities in cities with low cost of living and inexpensive labor.

NEXT 5-10 YEARS:

•Higher taxes on everyone, not just on higher income earners.

•Higher interest rates.

•Increased inflation, especially on food, energy and medical needs.

CURRENT SIGNS:

Positives:
•Factory, retail and homes sales are up.
•Unemployment claims are trending down.
•Investment sentiment is up.
Negatives:
•Heavy household debt remains.
•Strained state and local governments.
•Food and commodity prices are seeing inflation.

CALIFORNIA:

Expect slow economic growth of 1 percent to 2 percent in California because the state is significantly dependent on the housing market.

Some positive signs for the California economy are that housing permit requests are up and price declines are slowing.

ORANGE COUNTY:

The OC will grow at a slower pace than the U.S. economy but should exceed the forecasted rate of 1 percent to 2 percent for California.

We should expect unemployment to fall slowly but, as in the national economy, it is unlikely to hit 8 percent until sometime in 2012.
Unfortunately, the recovery here will continue to be slowed by the sluggish housing market.

Irvine Housing:

Lennar Corp. executives called Irvine “one of the most desirable (housing) markets in the country,” saying they’re excited to finally be moving forward with housing around the Orange County Great Park.

The firm, one of the nation’s largest homebuilders, bought the former El Toro Marine base at the top of the market in 2005, only to see the project stalled by the housing slump and its value shrink.

But the project got a new lease on life with the recent approval of restructured financing and the filing of plans for nearly 5,000 new homes around the former base.

Lennar says,“It’s a great land position in one of the most desirable markets in the country.

With this debt restructuring and partnership restructuring, they see the stabilizing the capitalization of the project for the next seven plus years, which will give them the ability to monetize the assets.

So, as they are really exited about that.

They Just submitted the next level of maps to the city for entitlement … and now we’re moving forward.

These restructurings have come with some pain. Over the past five years, Lennar has taken a lot of pain on some of these ventures.

Meanwhile,

Irvine officials issued a report Thursday saying that city and Great Park staff are studying Gov. Jerry Brown’s proposal to eliminate a key funding source earmarked for park development over the next 40 years.

They are Studying??

Brown proposed in his new budget to dissolve the state’s 425 redevelopment agencies, which have the power to capture property taxes that otherwise would be shared with counties and schools.

The city hoped to capture up to $2.2 billion for the Great Park, the report said.
“We are working … to minimize the impact of this proposal on Irvine,” the report said.

No specific solutions were mentioned.

Among the findings:

Brown’s plan would exempt tax revenue earmarked for existing debt.

That could include two loans to Irvine’s redevelopment agency already on the books: $134 million raised in a complicated cash transfer among city agencies and $6.6 million lent by the Asset Management plan.

But nearly two-thirds of a projected $2.2 billion in property tax revenue for the park “could be at risk under the governor’s proposal.

The $134 million loan repayment could be at risk as well because the state may not recognize it as existing debt.

Brown proposed that cities replace lost funds by asking voters to approve taxes for redevelopment, the staff report said.

However, Irvine can’t take advantage of that because of a long-standing promise not to finance the Great Park with new taxes.

More to come:

Contact;

John Hacker

jhackerleads@cox.net www.letsgobuyahome.com

What is A BPO?

2011-01-06T11:43:00.000-08:00

A Guiding Force for Orange County’s Changing Market

“Passion and Commitment”

BPO’s—What is it?

I have written plenty in the past about BPOs but have never delved into it specifically.

A BPO means “Broker Price Opinion” and they are not appraisals nor should one get them confused with appraisals.

A BPO has a different purpose.

Some of the factors that a broker will consider when pricing a property include:

• The value of similar surrounding properties,
• Sales trends in the neighborhood,
• An estimate of any of the costs associated with getting the property ready for sale and/or the cost of any needed repairs.

It is important to note that a BPO is not the same as an appraisal and not as detailed.

It’s almost like being a “secret shopper”.

When we are submitting comparable for a list price (NOT value, we are also looking at a myriad of other items that may help or hurt with pricing and marketing of the home:

How is the home being marketed: Is there no lockbox or an uncooperative tenant hindering showings? Are there only 2 photos in the MLS? My BPO overview will point that out for the client.

Huge price reductions in a short amount of time. This is commonly seen in short sales. The house is priced too high. Then usually within 10 days after listing the property a price reduction is seen- usually below what the other comparable homes are selling or listed for.

The strategy should be a series of small price reductions over a longer period of time. Some mortgage clients ask for us to report listing history so no one is fooling no one with the huge price reduction in a short amount of time.

Subdivision activity- what is the lowest, median and highest price sold in the last 6months.

The financial client wants to see the whole picture of pricing in the area. There are some exceptions such as condition (fair to poor) and declining market.

Occupancy-this is huge because lienholders must protect their asset. If the home is vacant and appears to be deteriorating from BPO reports, the lienholder has every right to rekey the property for preservation.

MULTIPLE BPOs are ordered and most are exterior- no appointment – just drive by-

This is most common on first BPO’s ordered by the client.

A BPO obviously isn’t just about value or an appraisal- it’s about the bigger picture- making sure the listing is being marketed properly so the lienholder does not have any money left behind sitting on the table.

Many cases is also done to insure the property is in sound condition.

My typical Broker Price Opinion report includes:

• Price recommendation: “As Is” and “As Repaired” or “Completed”
• Describes repairs to make property marketable
• Ranking of property and neighborhood conditions
• Recent sales activity of neighborhood
• Standard order includes analysis and photos of three current listings and three recent sales of comparable properties.
• Extended order includes analysis and photos of six current listings and six recent sales of comparable properties

A summary is also given about surrounding areas, cities and overview of what the economic conditions are like. This may include unemployment in area, are there factors of value like close proximity to highway, railroads, power lines.

It is all part of what I call P.E.P.S.

• Political
• Economic
• Physical
• And
• Social factors that impact value

BPO process Example (this is one example of the many uses of BPOs)

1. A Wall Street investment firm decides to buy a portfolio of home loans as an investment (sometimes thousands of loans are in one deal).

2. The investment firm contacts my BPO department to perform BPOs on each of the properties in question (they may even order multiple BPOs on one property for comparison). A due date is established for the BPOs (usually within a week)

3. My BPO department maintains a list of Real Estate Professionals that perform BPOs. The BPO department locates a BPO practitioner that service the areas where the properties are located. The Real Estate Professionals; due date is a few days before the final BPOs are due.

4. Each Real Estate Professional contacts the respective homeowner of their assigned BPO to schedule an inspection of the home or property ( if an interior inspection is required).

5. The Real Estate Professionals physically inspect the homes/properties.

6. The Real Estate Professionals gather Real Estate market information and compile the information to determine a probable selling price- BPO.

7. The Real Estate Professionals submit their finished BPOs to the BPO company.

8. The BPO department conducts a quality review of each BPO.

9. The BPO department head (me) submits the final BPOs to the investment firm.

10. The investment firm makes a cumulative financial decision based on the opinion of price contained in each of the BPOs.

For more information contact:

John Hacker

You can reach John at
Jhackerleads@cox.net

His website is
www.letsgobuyahome.com

2010-11-01T12:03:00.000-07:00

The Renegades, 1968

Many Americans mistakenly believe that Veterans Day is the day America sets aside to honor American military personnel who died in battle or as a result of wounds sustained from combat.

That's not quite true.

Memorial Day is the day set aside to honor America's war dead.

Veterans Day, on the other hand, honors ALL American veterans, both living and dead.

In fact, Veterans Day is largely intended to thank LIVING veterans for dedicated and loyal service to their country.

November 11 of each year is the day that we ensure veterans know that we deeply appreciate the sacrifices they have made in the lives to keep our country free.

History of Veterans Day

World War I – known at the time as “The Great War” - officially ended when the Treaty of Versailles was signed on June 28, 1919.

However, fighting ceased seven months earlier when an armistice, or temporary cessation of hostilities, between the Allied nations and Germany went into effect on the eleventh hour of the eleventh day of the eleventh month. For that reason, November 11, 1918, is generally regarded as the end of “the war to end all wars.”

In November 1919, President Wilson proclaimed November 11 as the first commemoration of Armistice Day with the following words: "To us in America, the reflections of Armistice Day will be filled with solemn pride in the heroism of those who served in the country’s service and with gratitude for the victory, both because of the thing from which it has freed us and because of the opportunity it has given America to show her sympathy with peace and justice in the councils of the nations…"

The original concept for the celebration was for a day observed with parades and public meetings and a brief suspension of business beginning at 11:00 a.m.

The United States Congress officially recognized the end of World War I when it passed a concurrent resolution on June 4, 1926, with these words:

Whereas the 11th of November 1918, marked the cessation of the most destructive, sanguinary, and far reaching war in human annals and the resumption by the people of the United States of peaceful relations with other nations, which we hope may never again be severed,

and

Whereas it is fitting that the recurring anniversary of this date should be commemorated with thanksgiving and prayer and exercises designed to perpetuate peace through good will and mutual understanding between nations;

and

Whereas the legislatures of twenty-seven of our States have already declared November 11 to be a legal holiday:

Therefore be it Resolved by the Senate (the House of Representatives concurring), that the President of the United States is requested to issue a proclamation calling upon the officials to display the flag of the United States on all Government buildings on November 11 and inviting the people of the United States to observe the day in schools and churches, or other suitable places, with appropriate ceremonies of friendly relations with all other peoples.

An Act (52 Stat. 351; 5 U. S. Code, Sec. 87a) approved May 13, 1938, made the 11th of November in each year a legal holiday—a day to be dedicated to the cause of world peace and to be thereafter celebrated and known as "Armistice Day."

Armistice Day was primarily a day set aside to honor veterans of World War I.

In 1954, after World War II had required the greatest mobilization of soldiers, sailors, Marines and airmen in the Nation’s history; after American forces had fought aggression in Korea, the 83rd Congress, at the urging of the veterans service organizations, amended the Act of 1938 by striking out the word "Armistice" and inserting in its place the word "Veterans."

With the approval of this legislation (Public Law 380) on June 1, 1954, November 11th became a day to honor American veterans of all wars.

3 Day Weekend Confusion:

The Uniform Holiday Bill (Public Law 90-363 (82 Stat. 250)) was signed on June 28, 1968, and was intended to ensure three-day weekends for Federal employees by celebrating four national holidays on Mondays: Washington's Birthday, Memorial Day, Veterans Day, and Columbus Day.

It was thought that these extended weekends would encourage travel, recreational and cultural activities and stimulate greater industrial and commercial production.

Many states did not agree with this decision and continued to celebrate the holidays on their original dates.The first Veterans Day under the new law was observed with much confusion on October 25, 1971.

It was quite apparent that the commemoration of this day was a matter of historic and patriotic significance to a great number of our citizens.

On September 20th, 1975, President Gerald R. Ford signed Public Law 94-97 (89 Stat. 479), which returned the annual observance of Veterans Day to its original date of November 11, beginning in 1978.

This action supported the desires of the overwhelming majority of state legislatures, all major veterans service organizations and the American people.

Veterans Day continues to be observed on November 11, regardless of what day of the week on which it falls.

The restoration of the observance of Veterans Day to November 11 not only preserves the historical significance of the date, but helps focus attention on the important purpose of Veterans Day:

A celebration to honor America's veterans for their patriotism, love of country, and willingness to serve and sacrifice for the common good.

So take time before the Thanks Giving and Holiday season starts and say Thank you to a vet.

No matter what their politics are, they were there because their country called them.

Submitted by,
John Hacker
Sgt, 198th Light Infantry
Vietnam

2010-10-18T11:11:00.000-07:00

Foreclosures Are Attorneys Gold Rush!!!

Bank of America announced last Friday that it was halting foreclosure proceedings in all 50 states so it could perform an internal review of its foreclosure processes. This follows the announcement that several major lenders in 23 "judicial foreclosure" states (i.e. states that require a court hearing before a foreclosure in finalized) have suspended foreclosures after concerns arose about the legitimacy of those proceedings.

Much has been written about this in the past five days, and it is a complicated and tangled web. The one thing I am convinced of is that this latest injection of uncertainty is not going to help the housing market, the economy or the public's perceptions of banks.

It will also make some attorneys rich.

There are basically two material concerns at issue here that are being investigated:

1) Right to foreclose – does B of A (or whomever) actually OWN the loan they are foreclosing upon, and do they have the legal right to foreclose? Attorneys for foreclosed homeowners are asking that, prior to foreclosure, the original note and deed be produced by the lender. Because many of these loans have changed hands so many times (loans originally funded by WaMu, Indy Mac, Countrywide, etc.), in deals that were often brokered under severe duress by the federal government, the banks literally have no idea where thousands of these notes and deeds physically are located.

2) Costs and fees – at every stage of the foreclosure process, there are fees and penalties that are piled on to the borrower’s debt list. Attorney fees, publication fees, filing fees etc… in the 23 so called “judicial foreclosure” states, the bank is supposed to submit an affidavit verifying that these fees have been reviewed and are legitimate prior to foreclosing.

The truth is that employees at Bank of America have admitted signing up to 300 of these affidavits in a single day, which means that the costs, fees and legal mandates are not being verified prior to foreclosure.

3) Who has legal title? Buyers beware and have a skilled agent who knows how to research this. A big RED FLAG here.

When clients sign a note and the deed of trust, closers often joke that the 15 page deed can be summarized in ten words. “If you pay, you stay. If you don’t, you won’t.”

At the moment, that summation is in doubt.

These cases right now are not going to “save” any homeowners.

They are simply going to cause delays and inject more fear and confusion into the housing market, which cannot help the recovery process or the nation's fragile economy.

The sensational headlines may also motivate thousands of underwater or unemployed homeowners to default on their loans, since the once-obvious connection between not paying your mortgage and losing your home seems to be increasingly fuzzy.

The real agenda here, in my opinion, is a shakedown against the banks by trial attorneys, who have spotted a weakness in the system and who know that no one has deeper pockets right now than the banking industry.

This is a very negative development because really, there are only two things driving the housing market today, and that’s buyers in search of quality and/or value.

And foreclosures represent value. Are do they?

Take that out of the equation, and what do you have left?

That's why this is a mess. We are all for ensuring that there is "process" and that fairness be a part of this discussion.

But really, in my opinion, this is just a massive shakedown that won't ultimately save any homeowners from wrongful evictions.

It's about the fact banks have deep pockets (courtesy of taxpayer bailouts and government-arranged mergers) and that certain trial attorneys see an opportunity to make a killing.

A killing which could further delay any recovery in the housing market and in the larger economy.

Kindly submitted by John Hacker and Dale Becker

Call me for further conversation.

“The EDGE Team”
www.letsgobuyahome.com
jhackerleads@cox.net
949-275-3247

Foreclosure Probes Coming Your Way!

2010-10-07T17:45:00.000-07:00

John Hacker on “the EDGE”,

Federal task force probes foreclosure allegations

The government is looking into allegations that mortgage lenders in the foreclosure crisis have been evicting homeowners using flawed court papers, Attorney General Eric Holder said Wednesday.

President Barack Obama’s financial fraud enforcement task force has a mortgage component to it, Holder noted during a news conference.

In a letter Tuesday, House Speaker Nancy Pelosi and dozens of Democratic lawmakers urged bank regulators and the Justice Department to probe whether mortgage companies violated any borrower’s requests for loan assistance.

In Ohio, Attorney General Richard Cordray is suing Ally Financial Inc. and its GMAC Mortgage division, alleging fraud that could involve hundreds of foreclosures in the state. It could be the first in a wave of suits by state attorneys general over what appear to be widespread problems in documents used by the nation’s largest mortgage lenders.

The lawsuit by the Ohio attorney general claims the company’s employees signed and filed false affidavits to mislead courts. Cordray called the alleged fraud the “tip of an iceberg of industrywide abuse of the foreclosure process.”

A spokeswoman for ally, Gina Proia, said in an e-mail that there was “nothing fraudulent or deceitful” about the company’s practices.

“If procedural mistakes were made in the completion of certain legal documents, GMAC Mortgage reacted proactively to the situation,” Proia said.

In addition to Ally, JPMorgan Chase and Bank of America Corp. have halted foreclosures in 23 states after evidence surfaced that their employees or outside lawyers signed documents without reading them or filed inaccurate paperwork.

State and federal officials have been increasing pressure on the industry over concerns about potential legal violations.

Officials in Maryland, Delaware, Texas, North Carolina, Connecticut, California and Massachusetts have already asked lenders to halt foreclosure proceedings while they review lenders’ practices.

From OC register. Submitted by John Hacker.

Wells Fargo to pay, to end mortgage probe

Wells Fargo & Co. is paying $24 million to end an investigation by eight states into whether lenders acquired by the company made risky mortgages to consumers without disclosing their perils.

The states said loans known as option adjustable rate loans, or “pick-a-payment” mortgages, were deceptive to borrowers. Those particularly toxic loans allowed borrowers to defer some of their interest payments so low that loan debt actually increased every month.

Wells Fargo announced the agreement Wednesday with attorneys general in Arizona, New Jersey, Texas and Washington state.

The loans were made by Wachovia Corp. and a California company it acquired, World Savings Bank.

Wells purchased Wachovia at the end of 2008. Wachovia had already stopped making those loans before the acquisition was complete.

As part of the agreement, Wells has agreed to offer loan assistance worth more than 8,700 borrowers through June 2013, though that amount will depend on how the economy fares during that time.

For more information, call

John Hacker at “the edge” team 949-275-3247 or
go to www.letsgobuyahome.com

ABC's of Team Building

2010-07-25T10:22:00.001-07:00

The following concepts are what I consider the fundamentals of team-building:

A is for action. No team can function without a plan of action, even when the final outcome is to take no action at all.

B is for brainpower.
If two heads are better than one, I would submit that a cohesive, well-assembled team should have enough brainpower to attack any project.

C is for cooperation and communication.
Team members need to cooperate, even if they don't necessarily agree. Clear communication is the roadmap to cooperation.

D is for dedication.
As members of a team, you must be dedicated to the goals of the team, or you are on the wrong team.

E is for ears.
Use your ears more than your mouth because listening skills are critical for team success.

F is for fun.
Work should be fun, and working together is usually a lot more fun than working alone.

G is for the group effort.
The motto needs to be "all for one and one for all" in order to be a real team.

H is for help.
Ask for it if you need it, and offer it if someone else needs yours.

I is for the ideas that come from brainstorming and picking each others' brains.
Let the ideas flow and then choose those which hold the most potential.

J is for juggling.
Combining all the company's needs and desired results will often require a juggling act, but a competent team will be able to achieve that balance.

K is for kinetic
-- energetic, dynamic team members keep things moving.

L is for leadership.
Every team needs a leader, and every leader needs to be able to depend on the team.

M is for motivation.
Nothing motivates a team like trust placed in them by management to solve a problem.

N is for negotiate.
Give and take is as important within a team as it is with outside clients.

O is for open mind.
Team members need to be open to options they may not have considered, and willing to expand their perspectives to find the best answers.

P is for planning.
A plan doesn't need to be rigid to be effective, but it must provide enough direction to keep the team on course.

Q is for questions.
Asking questions is the best path to finding solutions. Don't be afraid of asking any question. If you don't understand something, chances are others don't either.

R is for results.
The whole point of forming a team is to achieve results. The only variation on that theme is that the results may not be what had been originally anticipated.

S is for solutions,
which differ from results in that there may be more than one solution to any given problem. Then the team can implement the best choice.

T is for time management.
A well-managed team uses their meeting and planning time efficiently, and understands when it is time to finish the project.

U is for unity.
Once a decision is made, the team needs to be unified to implement the plans. If the team can't act as a unit, then it may be necessary to reconfigure the team.

V is for voice.
Every team member has to have a voice in the proceedings, and it is up to the team leader to insure that all voices are heard.

W is for work ethic.
Each member needs to complete the given assignments and should have confidence that others will demonstrate the same commitment.

X is the X factor
-- the chemistry that makes a team productive because all members are committed to the same goal.

Y is for yes
-- say it as often as you can. "Yes, I can help. Yes, that's a good idea. Yes, let's move ahead. Yes, we did it!"

Z is for zeal.
Passion, eagerness and enthusiasm are contagious; share your zeal with the rest of your team.

The team you build will determine the business you build.

John Hacker
ACTION Manager
Realty One Group
949-275-3247

Real Estate Transactions are PASSIONATE

2010-05-23T10:13:00.000-07:00

I have used "Passionate" to describe the state of Real Estate Transactions for some time now.

Everyone wants to negotiate, the buyer wants a fair deal and so does the seller.

The best part of negotiations end, with ALL parties feeling like they won. The agent today needs to make sure BOTH parties feel like they came to an amicable agreement.

No one wants to lose.

The Realtor on both sides must understand thats a big part of their job in today's market.

Of course most agents today do not have the training or the expertise in the art of negotiaitons.

Its not hard, its just good common sense and very good people skills. And a good culture that breeds success for all.

Usually the first offer is the best, you have the seller who is excited because he is thinking about moving on. The buyer is excited because they are getting ready to move.

And I did not say stupid first offer did I.

The issue is the Realtor (on both sides) needs to make sure they have done their homework on the property, and of course addressed any disclosure issues. Many times one of my agents has called me on the weekend after showing a property and may ask me for help to submit the offer that instant.

When I tell them to cool down and wait to write the offer on Monday, I get the silent treatment. Those who know how I use this, understand the power of cooling down.

The buyer and seller are best focused on the intial offer, that focus dwindles with counter offers.

The PASSION wanes.

Making your best offer early gets best results, that means doing the due diligence of the property, the understanding the loan early and thorough.

Think about it, as a buyers agent you have researched that property first for them, then you showed them and even maybe seen it again, (which you should have).

All my transactions I have gone back alone to preview the property and look for any issues that I need to make my buyer aware of, (and sometimes the sellers agent.)

It is amazing what you see when you take the time by yourself to preview a property.

It is the buyers agent responsibility to look beyond the pretty things and observe any issues about the home. Structure issues, neighborhood issues, pricing, oh what about the loan?

Call me direct for that subject please, I am amazed at how many Realtors do have a lender on their team to assist them in this area.

Sellers agents, must do even more to make sure the deal stays alive.

Pricing, disclosures ahead of time, for the buyers agent. Understanding the market, the area, the loan process.

Did you know the majority of the Realtors have no idea how the VA works?

How about the short sale process? Still education lacks here.

This is the best time to be in Real Estate, I love this business, it is also a hard business.

Today we must be professional and passionate about our success and our clients.

You must team up with someone who is passionate.

You do have a team right? A title Rep? A home Warranty Rep? Escrow Rep? Hazard Disclosure Rep? An Inspector? A lender? A Handyman? A cleaning crew?

Passion starts within, then goes to the culture of the company, then ends up with your commitment to learn about Real Estate EVERY day.

It starts with and ends with the leadership.

So get started and be passionate about this business, your clients will see it and will want to work with you and your team of professionals.

John Hacker

Realty One Group.
949-275-3247

Renters and Owners, Working Together!

2010-03-21T11:05:00.000-07:00

More good news for renters! And great info for Owners!

Virtually all landlords are cutting rents as most property managers remain pessimistic about the industry’s immediate future.

According to a nationwide landlord survey by the National Association of Home Builders, in the fourth quarter

•2% of landlords said they were raising rents; as 33% were cutting rents. That placed the NAHB “asking rent” index at 34 for Q4 — on a scale of 1 (greatly falling) to 100 (greatly rising) — worst in at least 7 years.

•6% of landlords say they are raising “effective rents” — rents minus any concessions; 49% are cutting effective rates. That placed the NAHB “effective rent” index at 28 — on a scale of 1 (greatly falling) to 100 (greatly rising) — up a tick from Q3.

Business conditions vary by class of apartment owned, the NAHB survey showed in the fourth quarter:

•Landlords with top-shelf Class A unit were the most pessimistic, with a 39.5 “expectations” on a scale of 1 (most pessimistic) to 100 (most optimistic) — worst in nine months.

•Managers of “low-end” Class C projects were the most buoyant of the bunch, with a barely “optimistic” scare of 51.2 score — best in nine months.

•Finally, owners of middle-market Class B buildings had a 40.6 “expectations” index reading — worst in 15 months.

What does this mean?

Renters can negotiate for best and fair prices, (No Greed please.)

Owners who are savvy are willing to work with prospective tenants AND existing tenants, (NO GREED PLEASE).

I advise my investor owners to also stay in touch with tenants, maybe send them a thank you card every so few months, toss in a starbucks card.

Its cheaper than having a vacancy.

Stop being confrontational, be proactive.

Tenants, also should be proactive and show appreciation when the time arises.

Working together and everyone wins.

John Hacker
Realty One Group

Irvine, California

Be Charming This Year!

2010-01-12T18:36:00.000-08:00

32 WAYS TO CONDUCT BUSINESS
WITH CHARM & SAVVYRespectfully Submitted by John Hacker

You may have heard how many have commented on the loss of civility in today’s “New Reality”.

People seem to be more impatient due to factors such as larger workloads, less time to get things done, rapid change, and especially financial pressures that have mounted on us in pyramiding proportions.

As you also know, we’re in a business where these behaviors can become a trap that an agent can fall into showing less patience and tolerance to those who are buying and selling homes, or simply just trying to survive with a loan modification or a Short Sale.

Home buyers and sellers are often in the midst of an emotional decision anyway even in better times and an agent who does not afford them some “emotional wiggle room” may be doing themselves a disservice.

I have decided to include tips on how to conduct business with more elegance and charm that will better ensure that your clients will be “clients for life” even in this “New Reality”.

1. Make a powerful, positive first impression. Establish appropriate eye contact, avoid colloquialisms and slang, and have the proper “support materials” on hand such as your presentation guide or laptop.

2. Avoid a limp handshake; make sure your grip is confident and appropriate to the situation. REMEMBER that it’s not the firmness of the grip but the palm to palm contact that is important in connecting with the other person, especially the opposite sex.

3. If you have a social misstep, and eventually we all have one or several, use this as an opportunity to display grace, wit, poise and humility.

4. Never ask “Who are you?” Find creative ways to determine the names of people to whom you have been introduced but have forgotten the name or it wasn’t clear to you when you were introduced. It’s perfectly OK to say, “Please forgive me, I’ve forgotten your name”.

5. Don’t use the other person’s first name unless you are invited to do so. If someone introduces themselves by their first name, then that is how they would like to be called.

6. Present a single business card; follow the lead of the higher ranking person, rather than asking for his or her business card. Be sure to look at their card when they hand it to you.

When you put it in your pocket, put in the pocket closest to your heart.

7. In terms of dress, when in doubt always dress one level above the people you are meeting with. Otherwise, know when to dress up or down. Don’t pick clothes that reveal too much or leave too little to the imagination.

When in doubt, always err on the side of dressing slightly more conservatively than the situation demands.

8. Keep accessories to a tasteful minimum. Over-accessorizing your look with too much jewelry or lapel pins can be distracting to your image.

9. When it comes to phone etiquette, ask before putting someone on a speakerphone. Many consider this very rude unless you ask them.

10. When on the phone, know your inventory and conduct your call in a courteous, professional manner. Try to avoid putting someone on hold but if you have to, and ask if it’s okay with them if it is necessary. Also let them know approximately how long they will be on hold. ALSO, try not to have anyone interrupt you while you are on the phone. This is very annoying to the other person and very discourteous.

11. Below are rules of cell phone civility:

- Turn off your cell phone during meetings period.

- Try to keep your speech at a soft but audible level while on your phone in a public area. Carefully enunciate your words so that they can understand you.

- Don’t feel that you always have to answer your cell phone when it rings. If the matter is important, you’ll be able to get back to them.

12. Other rules of “phone: courteous:

- Plan the call before you make it. Know what you’re going to say and ask. Try not to improvise when you call a prospect.

- Make sure you have close at hand all of the information and resources you will need. This could include your calendar, the contract, flyers, or other documents you will need for the conversation.

- Avoid calling when you know your client or contact is likely to feel overwhelmed.

- Take careful notes during the conversation so that the prospects don’t need to repeat themselves.

Demonstrate your listening skills.

13. Learn to let the phone ring. Answer your telephone only when you can comfortably converse.

14. Check your e-mail and voice mail regularly. In real estate, this should be done at least three times a day. (Try four times a day)

15. Be specific when leaving a phone message. This means leave your telephone number – TWICE AND SLOWLY! Do this even if you know they have the number. Also give a brief reason for the call. This will make it less likely that you will have to play a game of telephone tag.

16. When leaving a voicemail message, get to the point. Don’t leave a two or three minute narrative. Explain the reason for your call as well.

17. Smile when you’re on the phone.

People do pick up your mood over the phone; make it positive.

18. Show patience and understanding to tough callers. If you have a fire to extinguish with an unhappy caller, learn to ask questions and listen, but do not take it personally.

19. Always be on time for meetings

but don’t be too early for them either. If you are early, don’t make it any more than five to ten minutes. Many consider this a breach of privacy.

20. While being on time is important, sometimes factors such as traffic and other people who are late cause us to be late for a meeting. If you’re going to be late, call ahead to let them know and by how much. Explain what has caused the problem as well but don’t get long-winded.

21. Provide compliments when appropriate. They should be as sincere, specific and as timely as possible for something well-done. Try paying a minimum of five compliments per day and this can include other agents as well as the prospects.

22. Stop stepping on other people’s sentences. Let the other person complete their sentence before you respond.

23. If a meeting ends negatively with a prospect in which you get a “No” response, try to get the person to answer something positively. You might consider saying something like “Will you contact me if I can be of assistance to you in any way?”

24. If you’re planning a party such as a Home Warming celebration, know when it needs to stop.

25. Watch your personal hygiene

remember to bring the breath mints. Breaths get stale as the day goes on.

26. When sending e-mails, try to personalize them so as to offset the abruptness or curtness of the message. Something like “I appreciate working with you” can soften the impact of the message.

27. Make it a point to respond to e-mails promptly.

28. Always use spell-check and grammar-check before sending messages.

29. Include your telephone number in your e-mail message.

30. If you send an attachment, try not to make it too large. If sending multiple addresses at the same time (such as this e-mail), put the addresses in the “BCC” line so that the other addresses are hidden. Also with attachments, most people don’t like receiving 5 MB attachments unless they are integral to the business at hand.

31. Avoid sending too many, and especially inappropriate humor stories or anecdotes, by e-mail to the people in your database unless it is part of your newsletter.

32. When sending e-mail, make sure your heading is clear. Remember many people are selective about which e-mail messages they read and which they delete.

The fact is that many agents destroy relationships mainly because of something they did or didn’t do that they were oblivious to. Learn to become more cognizant of these items. Your clients will appreciate your professionalism.

Good Luck!
John Hacker
Realty Executives General Manager