05.15.2012 Tuesday Talk: Bank of America Short Sale Forum

by qinfovio 19. June 2012 16:40
I went last week to Santa Clara to participate to a forum from BOA (Bank Of America). I could found most of their short sale
information by going to their webinar.
The reason that I like to attend is to check the message that they try to send to the Realtors. This forum was completely different  
 from the last one that I attend with Wells Fargo/Wachovia. With Wells Fargo, we were inside the bank facility, around 40 Realtors and nice short talk
on their point of focus with the transaction.
With BOA, it was at the Sheraton with around 400 Realtors. The message was little bit different beside the typical subject of the short sale transaction.
BOA was saying that they need us as much we need them and I feel that they want to control us. They had at least 20 loan officers in the back of the room
and it seems that they try to promote and have us to refer our clients to them.
Now they also have a bunch of disclosures that come with their short sales and they also mentioned all the work
that we need to do with the short sale process. The investors will not pay anything for us on using any Short Sale Facilitator.
As on my side, as a former Mortgage Broker, processing as short sale is almost the same process than doing a loan, I have to provide and collect all the
same documentation, but I cannot get paid. What we usually do, we change the split on the commission to 3.5% on seller side and 2.5% for buyer's agent.
But as now, we are seeing more reduce commission to 5%.
They are asking us to do the work of tow persons, for a loan officer and a real estate agent and only one get paid. If a Realtor want to use a short sale facilitator,
they will have to charge the buyer or the buyer's agent.
It is going to be very hard for us Realtor to stay in business and compete with Banks. For them if a short close or does not close they are still getting paid
with the help of our government. On our side they are asking us to the do work of two for the price of one and if we don't close, it is a complete lost on our side.
2012 starts to looks at 2007/2008 when it was taking for ever to get through a transaction. In 2007/2008 we were not prepare with the short sale process,
and also for the drop of the market and Realtors were the first one to get hit (financially) with this crisis. And now, I am seeing another burden with the length of time
and the amount of work that we need produce with each of these short sales.
I want to finish with this forum from BOA with saying that the Banks try to get rid of the real estate agent by controlling and telling us how to handle our  
business and making us doing the work of two person without guaranteed on getting paid. But for us, small business owners we survived the big slow  
down of the 2008 and we will survive that one too.


05.08.12 When the New Energy Would be Available?

by qinfovio 13. May 2012 13:56
Good afternoon,
Wells Fargo/Wachovia/World Saving/ was ahead of most lenders when it comes to the short sale market.
But as now, Bank of America is up to speed, having a bunch of seminar for Agents to be inform with their process. I will need to attend
one tomorrow. I can probably get all the info through BOA website but we need to show up couple times a year, so we might be on their list
of recommend Agent for their short sale. Few of them are now using the same software through Equator.com and you are welcome to visit,
they also have a lot of info for home owner.
The last one that we are all waiting for is Chase. Everything is still done by fax, calling them and a lot of time wasted on our side.
I am a subscriber to Doug Casey Research and I am not too crazy with his research and himself for the only reason that for most of the time,
he is always right. The last case, he had an article 3 months ago mentioning that the French President Sarkozy will loose the election and he did. 
It seems that a lot of European country are dumping their leaders due to our Economic Crisis. That will be no miracle to this crisis as most people hope,
thinking what go down will go up. Economics are all about income, debt and growth. I was checking this morning on CNN.com where they show that
10 of the 12 country with the highest tax debt was in Europe with an average of 50%.
It is like a Cube with 6 colors, you can play as much as you want, but you will never put it together unless you have the right formula, it is not luck
but understanding how it works.
I want to share a link below with a very hot topic with new gas discovery that will save us from the oil industry. It might help our economy ,but would be
in the longer run.
Thanks and I will see you next week!
Christian Viollaz
License 01318338
Our VIP Seller Service provides you with timely, online, direct feedback from prospective buyers


05.01.12 Using Pending Sale Versus Active Sale to Understand your Market

by qinfovio 13. May 2012 13:50
Good afternoon,
May 1st is a celebration of the Lily of the Valley also known as Labor Day in France.
In my 27 years in the US with a dual citizenship (US & French), I feel obligated to vote for the first time next Saturday
for our next French Presidential Election.
As the world economy is not improving, specially in Europe, it seems that the easy way for our government to find some money,
is to go after the higher income that have been call rich people. Income of over 1 million euro will be tax at 75% and they call it patriotic
to pay a supplement over 1 million income, I call it a robbery!
The more that you will tax the rich, the more they will flee our country.
You cannot resolve a debt and your budget that way, you have to create Growth.
In the US, we can also create growth by reducing our corporate tax and bring back some of our manufacturing that moved oversea.
Bottom line, penalizing peoples that make more money to pay for our debt will not improve our economy, it will just get
worst once they all moved their money.
Back to real estate, I will be just going over some numbers looking at Pending Home Sale (under a contract of sale with buyer, not available).
I will be looking at regular sale versus distress sale (short sale and foreclosure).
This information will help you to understand the situation with our home price and the housing market in the Peninsula.
In some area, looking at these numbers and also into my NOD list, I can see an increase of distress sale in the Carmel Valley area
with 40 pending and has 13 as distress sale. I will expect larger price drop specifically in this area.
There is a regular pending sale just off Carmel Valley Road, very noisy location at $525,000.00 and completely outdated that
 will need a good $250,000 to $300,000. You should be able to buy this house the next 18 months for no more than $350,000.
The best way to find out is to look at comparable sale in Monterey, PG and even Carmel.
If you plan to buy in Carmel Valley, you should wait unless is a distress sale and selling will be the good time before it's really drop.
Carmel has 43 with 8 (buy only distress sale)
Hwy 68 all the way to Benancio Road, Las Palmas 53 pending with 38 (buy)
Pebble Beach 18 with 3 (buy only distress sale)
Pacific Grove 38 with 21(buy)
Monterey 35 with 21(buy)
Seaside 56 with 43 (buy)
Marina 23 with 18 (buy)
Concerning selling a home in this area, expect larger further price drop until it reach 50/50.
Thanks and I will see you next week!
Christian Viollaz
License 01318338

FREE Quick Over-The-Net Home Evaluation



04.25.12 Tuesday Talk Who is Buying our Mortgage?

by qinfovio 1. May 2012 14:46
The latest update at CNN.com concerning our real estate market, "home prices lowest since 2002
and it keeps dropping."
Buyers that plan to have a financing on purchasing their home should make a move now and up to the election time.
(and plan to keep it for a while)
I will expect our lending/financing to get back as it was at one time. It will be moving to a higher down payment.
Loan will be coming from Banks at market rate. I will expect FHA to readjust their loan limit within the next 3 years
and I will expect tight restriction. 
I have a link from an old article from 2009 that show who buy all these loan since the financial crisis that follow
The federal reserve buys all the mortgage that has been provided since 2009 to keep our economy moving and is able
to keep interest rate low. We have over 40% of our Country debt that are short terms.
The federal reserve has been printing a lot of money to buy all these loans and at the same time
controlling the interest rate.
Rates are usually set above inflation and by banks not by the Federal Reserve. Once the lending power is changing
hands, rate will be reset at market rate and our economy will start his recovery.
We will learn for the future generation to keep our government out of the lending business and let the economy goes up and down.
You have to adjust the course just as running a marathon.
Thanks and I will see you next week.


04.17.12 Stansberry Research How the Dollar will loose their Wold Currency...

by qinfovio 24. April 2012 12:50
Good afternoon,
      We are very fortunate to have in our backyard the World's Salad Bowl known as the "Salinas Valley" that is a leader in the agriculture
 industry with 1.5 million acres of agriculture land. It is the best time of the year for you to have a taste of it, from strawberries, cauliflowers.
broccoli, iceberg, romaine, artichoke...we are lucky to have it in our backyard, use as much as you can for a better healthy life.      
      Few words with our short sale market: as banks have picked up speed, the biggest delay is coming now from HAFA/HAMP program:
The Home Affordable Foreclosure Alternatives (HAFA) Program is designed to help borrowers – both those in default and at imminent risk of default –
who are eligible for but unsuccessful under the Home Affordable Modification Program (HAMP). HAFA streamlines and standardizes industry practices
for preforeclosure sales and deeds-in-lieu to provide eligible borrowers with an alternative to foreclosure.
Before we can proceed with any short sale, lenders have to go through HAMP and if the owner does not qualify, then they might proceed to
a normal short sale and it will take anywhere from 30 to 45 days to hear back from HAMP. More jobs have been created but for useless result. 
                                            here is more info https://www.efanniemae.com/sf/servicing/hafa/
      I forgot to put a link last week concerning the Tax Relief Act that is ending in 2012 and you might be eligible up to 2 Millions as your primary residence. 
Here is the link with more information and you might want to check withan attorney to be more safe http://www.irs.gov/individuals/article/0,,id=179414,00.html
      I end up last week with "I will have few words for you next week for the cost of not being the WORLD Currency anymore."
I am a subscriber of Stansberry Research for over a year and I can see an evolution with their knowledge with our evolving economy.
For the past few years they predicted that the Dollar will loose their World Currency position, but cannot figure it out how it is going to happen.
And now, we can see in a better way how it will happen. I just read "This Time is Different" eight centuries of financial folly
by Carmen Reinhart & Kenneth Rogoff, an extremely boring book with hundreds of data for the past eight centuries. 
Just learning how hurricane work looking at data help a lot, but learning how hurricanes are created will help to plan where they
will land. It is a similar situation with our economics, we have to move from data to reality. It is of course unpopular to
our politicians. You can check the video below, it is just information that can be use understanding where we are hitting
with the global economy.

Thanks and I will see you next week.



Christian Viollaz
License 01318338
To Find Out What's Your Home Worth?



04.10.12 PAGE Pan Asian Gold Exchange

by qinfovio 17. April 2012 13:42
Good afternoon,
Many homeowners will have an important decision to make with their housing since the Tax Relief act is ending in 2012 and you
might be eligible up to 2 Millions as your primary residence. 
I am expecting our crisis to get more messy and I will have to adjust my business accordingly. I will not expect any improvement for the
real estate part within the next 3 to 5 years.
I end up my last week with "I will tell you next week with the one third missing to complete our real estate crisis."
Today, I want to introduce to some of you that might already know to "PAGE Pan Asian Gold Exchange"
Before 1944, the world currency was the Pound Sterling and after World War II moved to the US Dollar.
To be a world currency you have to be able to back your currency with gold and it was done until 1971 until Richard Nixon
made the change. In a Gold Backed Economy, the authorities cannot increase the money supply by just printing more money.
It is how we did to finance our debt. The federal reserve print more money and sell it through bonds and securities and when the economy bounce back they will take this money out of circulation and will reset the value of the dollar. But the more debt that you have (around 16,4 trillions by the end of this year), the more printing you will do and is even more easy when you don't have anything to back it up beside paper...until somebody else is ready to take your place.
The two world wide gold trading are in London with LBMA and in New York COMEX. They adjust the value of the gold that is
back by paper by less than 4% in physical bullion. PAGE will start to trade this coming June with 100% back by physical
gold or their currency Renminbi.
Would you prefer to buy a cheaper GOLD with COMEX and LBMA that is back up with less than 4% in physical bullion
or a little bit a higher price through PAGE that is 100% physical gold?  
Why should you be concern? I will have few words for you next week for the cost of not being the WORLD Currency anymore.
Thanks and I will see you next week!


04.03.12 Tuesday Talk

by qinfovio 10. April 2012 11:43
Good afternoon,
I want to start with our home inventory where it is very low in some area, 20 in Seaside, 34 in Monterey and in the mid 25 all around the Salinas area.
A low inventory should bring home price up, right? But not in our case. A typically example is with a new listing in Seaside at 1505 Military Ave.
A very decent location, nice house condition, lot size over 10,000 square feet, a 2 bedrooms with 1 bathroom listed at only $186,000.00.
It is a short sale subject to lender approval and this house will sell and should appraise more around $250,000/$265,000. It is below foreclosure's sale price. Seller's agent just try to bring a bunch of offers, with highest and best, but mean time, will drop home value to $30,000.
If you have a house price like that one in your neighborhood, you will be not a happy homeowner.
The other issues that we are having is with the appraisers that will take in consideration the listed price and affect the selling price for all other homes in the area.
I attached home sale for 2005/2008/2012 and beside the inventory I want to point out the median sale price in different areas.
As the low end home price has adjusted by a ratio of 50 percent, it will then move to the higher end.
By bringing you the total sales volume between these three years for each of this month, it will also explain our deficit, the lost of income
that occurred at the level of a County. Income coming from Documentary Transfer Tax, Property Tax(average 1.1%).
We have total dollar volume of $277,271,088 in April 2005 compare to $103,714,687.
Going back to our low inventory, our government is achieving their plan. I attended couple webinar from BOA and also Wells and all other lenders will follow. All these lenders have put a bunch of personnel to assist all homeowners, wanting to keep their home. It makes our government looks good, reduce unemployment, save homeowner home, the American Dream!
But remember on my last week Tuesday Talk, I mentioned that this year was the last year for Mortgage Debt Relief. The lost that your lender is taking is TAX FREE 
income until the end of 2012. Any short sale, loan modification, foreclosure after 2012 will report as an income to you. If lender take a lost of $200,000 you might end up 
around $60,000 to pay.
This year is going to be a very important decision time maker for a lot of homeowners.  If your home has lost 30% of its value, keeping your home would be like a car lease,
where you cannot get out of it unless you pay a large sum at the end.
I have also some good news, despite this real estate crisis bubble that we went through. We are about at two third of it and we will be the first country in the world out of this bubble. Home price was inflated by speculation and banks deregulation. But now as our home price has declined by an average 50 to 60 percent to income level and it is what it will take to turn our economy back on.
I will tell you next week with the one third missing to complete our real estate crisis.
P.S Don't forget to use or refer our service.
Thanks and I will see you next week.


Welcome to our Tuesday Talk!

by qinfovio 5. April 2012 15:38


Good afternoon,
The home inventory is low and our market is moving, but I am not completely sure that we hit the bottom yet.
The perfect example is with one our offer that we have in Marina, house was sold in 2010 for $407,000 and appraisal came back today at $360,000.
So, this will take me to the subject today concerning  the last year for short sale and it should reduce also the amount of foreclosure.
The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence.
Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief.

This provision applies to debt forgiven in calendar years 2007 through 2012. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately).
The exclusion does not apply if the discharge is due to services performed for the lender or any other reason not directly related to a
decline in the home’s value or the taxpayer’s financial condition. Here is the link with more information and you might want to check with
It included all property purchase prior to 01/01/2009. So for the case for this house in Marina, they can short sale if if they want, but seller will have to pay tax
on lender lost. If there is a $70,000 lost and their tax brake at 30% they will end up paying $21,000 in tax.
Last weekend I ran into my neighbor telling me that they just bought a home and they will be dumping their condo into foreclosure or a short sale.
I told my neighbor that the Tax Forgiveness/Debt Relief Act was not made for this purpose and they will have to pay tax on it.
Her respond of course that her friend did the same a year ago and that this year was the last year to do it.
It is just a bunch of fraudulent acts just like that one that started our credit crisis and I will tell you next week what it will cost us.
I also met a good local non profit organization the Housing Resource Center of Monterey County in Salinas, go check their site at www.hrcmc
They can  help homeowner through their foreclosure counseling services. It should be the first step for homeowners that need help.
They can also help you plan on how to save money, budget yourself to buy a home...and the little stuff that we used to do and conveniently
forgot in the twenty century.
I run through a good story while visiting some neighborhood and this one was month ago on Lorimer Ave South Salinas.
While I was knocking at the door of a homeowner that was in my NOD list, I was also not sure if the home was occupied.
The neighbor came to me, mentioning that the house was vacant for almost a year, that she was parking her car in the driveway
and she was mowing the lawn so it will look like the property was occupied. I told what an inspiration she was for her community and I should
bring the media.
 Thanks and I will see you next week!

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