The commercial real estate downturn skirted the sidelines for the first three years that residential markets were declining in 2006-2008, but once it hit, it hit hard. As the following chart indicates, commercial property values were on a steady uphill climb throughout most of the past decade – peaking in February of 2008, and then dropping precipitously through 2010. 

Today we are facing trillions of dollars in underwater commercial mortgages, threats that foreclosures will flood the market and further depress values, and questionable accounting practices that mask reality while delaying the commercial market’s recovery. 

 While residential mortgages are typically financed over 15 to 30 years, commercial mortgages tend to be refinanced every three to seven year years. Studies by Deutsche Bank indicate over one half of these loans made during the 2000-2008 commercial run up in values are either non-compliant or non-conforming and will face extreme difficulties in qualifying to be refinanced . The stop-gap strategy adopted by most commercial lenders today however has tended to be one of “Extend and Pretend” that the loan is compliant and no loss in principal value has taken place.  

Continue reading ‘U.S. Banks: Time to stop “Pretending” and start “Amending”’

By Laura Price, Marketing and Communications, Keller Williams Realty International.

Facebook Fan Pages have drawn attention to themselves because, when done well, they can be extremely effective. It’s a great outlet to create raving fans and win more business.

Gaining a friendly following isn’t about posting quantity, however, it’s about quality. Moreover, the “If you build it, they will come” mentality doesn’t apply anymore. Today’s consumer expects meaningful interaction that can benefit them. If you can successfully do that, you’re fans will be more likely to repay the favor in the form of loyalty and sending business your way.

Here are three ways and a few great ideas to create raving fans on your Facebook page.

Gotta Be:

BE Information-based. As a real estate agent you have a wide variety of topics to discuss on Facebook. Here are some ideas to incorporate into your posting plan.

Continue reading ‘3 Ideas to Engage your Facebook Fan Base’

By Bryon Ellington, Chief Products Officer and Roger Higle, Course Writer, Keller Williams Realty International

“Opportunity is missed by most people because it is dressed in overalls and looks like work.”
- Thomas A Edison

How many of us know someone who has foreclosed on their home, or is at least close to being in foreclosure? If there were 100 of us sitting in a room, 40 or more of you would have raised your hand.

As most Americans are aware, more than 40 percent of all residential real estate transactions are either foreclosed homes, or are on the road to foreclosure. Of those “on the road,” nearly one-third become short sales in which a homeowner and an agent negotiate a settlement with the homeowner’s lender to sell the property – and settle the homeowner’s debt – for less than the amount owned.

While some indicators point to positive momentum, the fact is best estimates from data firms such as CoreLogic and RealtyTrac report there are conservatively 4.5 million homeowners who are in default on mortgage payments in the United States right now.

That’s almost as many as were sold in all of 2010!
It’s time to get on board and help.

Continue reading ‘Short Sales: Do you have what it takes?’