In contrast a homeowner with equity to protect will find a way to make those monthly payments. The time for the government to step in is now. The servicers fear that if they lower peoples principal balance, more and more people will stop paying and wait for an offer to be given to them. Many servicers also will not sell those notes at least not at a realistic price so how is the HOLC program going to work? Eminent domain, existing laws allow the purchase of property interests other than the outright ownership of land. If the government could buy these assets either by voluntary sale or by eminent domain for 30 to 50 cents on the dollar there would be ample room to reduce principal balance to make the mortgages more affordable. The new HOLC program like the original could pick and choose the mortgages it buys, it should only be used for primary residences and it should refuse mortgages that homeowners can afford but choose not to pay.

The best part is President Obama could enact this with out any further input from Congress and a portion of the TARP funds (75 Billion) could easily finance such an operation. It should stem off the foreclosure crisis and more importantly, it will cause lenders fearing Eminent domain and losing assets at a deep discount to voluntarily reduce principal balances.

I list homes for sale and for lease. I price them correctly, I take great photos. I schmooze the sometimes tenants and I get them to move on, deal with any attorney or management company they have and get it all in writing. I screen the buyers and their lenders and I sent the owners lender every single thing they wanted, sometimes before they even asked for it. I have contacted the HOA after negotiations broke down due to the seller or the managers attitude now and again and pleaded them to offer justice to my client and settle the past due bill even though they sometimes did not deserve it.

The lenders are asking for full or partial repayment instead of allowing the short sale more and more often. There needs to be a way to give a short sale the same terminating effect a foreclosure has if necessary because there will be more and more homes that need to be sold due to speculators dumping them. Many times the second lenders are refusing to settle for a reasonable amount due to cash out refi or purchase money seconds. Or that the borrower can still make the payments but just no longer chooses to? Based on that question, your circumstance the bank is lately, not so quick to forgive you. Perhaps an arbitration board can be assembled and can review the files and demand the lenders perform case by case and force them to cram down and accept the settlements, right now they are blowing good deals apart because no one can force them to do anything. In a foreclosures a person it seems, can just walk away and let the home foreclose and all bets and debts are off. That leaves foreclosures to only the REO agents and the profiteers, not good for anyone but them.

To you homeowners who want to stay in your home and just want to make it affordable, my freind and associate Mr. Kevin Hardin and his team at Mortgage Mediation Group have assembled a program called a HEFI. Home Equity Fractional Interest. Their site is www.equidebtsolutions.com it offers principal mortgage reduction to the homes current value and offers the lender(s) a shared interest in the appreciation in the home. It is a novel concept at a minimal price and seems quite a good solution to a very bad situation that is mounting in many primary homes. Let them know I sent you!

The resort over the course of ten years has overly watered the grass on their side of the fence and all but destroyed it. They recently sent my group a threatening letter saying we are to foot the bill for the repairs of the fence they destroyed, to the tune of almost 10 grand.

Being a REALTOR and the President, I know my ccnrs better than the people who wrote them. There is no way we are paying for a wall that a for profit organization destroyed all on their own. I have two members on the board right now who, well lets just say if they had fought in WW2 we would be speaking German in this country today. So not only do I have to worry about the master and their collective B.S. I have to worry about the two of the four other members who 'serve" with me on the board.

My point is this, if you do not like what your HOA is doing, get involved and serve. Luckily for my community it is not in my DNA to be bullied by big corporations or anyone for that matter, who think they can bend the rules and the law into their favor, I say 'fix your own damn wall!"

Like New 2005 Shea home, popular floorplan. Short Sale

The wife called me and advised me that they were divorcing and what could be done about the house? I spent hours and hours on the phone with them in September counseling them separately on what to do, plans were hatched and scrapped over and over. They decided to try a loan mod since the husband wanted to remain in the home or they would have me short sell it.

I checked in the mls to see what it would appraise for about a week ago so I could advise my clients how things were looking. It was under contract and listed with another agent, not only that but the husband had bought another house in the West valley.

I felt betrayed, I was truly upset after all I had gotten them into the home ownership driver seat in the first place right? I advised them how to do exactly what they did and they did it with someone else! Then I realized, I do not need to list and sell every client's home in the valley. I am glad he was able to buy a home and I am glad his wife found a suitable rental. In my profession often we give away things for free, albeit advice, support or help of some sort.

I am glad I was able to be there for them in the time they needed me and who knows, maybe the spirit of giving is awakening in all of us?

Today not only did I have the pleasure of attending the signing a first time home buyers purchase, but today it was on Veteran's day and this person is a disabled gulf war veteran. I cannot tell you how happy I feel for her and her family, I am honored to have been her Realtor. How fitting it seems to me that she sign for her new home on this day. Happy Veterans Day & God Bless

As a practitioner it is my job to assist clients to buy, rent or sell their homes and in this market you have to be on top of your game if you intend to survive.

The sales process can be tough, but it does not have to frantic or hostile unless that is what they are bringing to the table, then you can use it to yours and your client's advantage.

This last Monday my friends and I played Vistal located at South Mountain. I almost bought a home there before I bought at the Legacy. It was in wondeful condition and wow what views it afforded us. Homes along the Baseline corridor run anywhere from 150K to 1 Million and more.

I love living on the South side, sure it is not the Biltmore or North Scottsdale but you know what, I pay 1/3 of the taxes that they do. Property values sure have taken a hit but we are climbing out one rung at a time. When the wind comes whipping off South Mountain it is quite spectacular and of course the mountain views are just beautiful.

If you have any questions about South Phoenix, the housing market in general or what club you should, use just let me know!

AMazing brand new home on the links course

Prior to this, I sent over a post possession agreement, which help to protect not only my client but the buyer and both of the agencies against liability. The buyer refused to sign it because his agent said it looked too much like a lease, unfortunately for him his agent may not have explained the consequences for being frustrated and taking no action versus agreeing to the post possession and covering ones self, not to mention our collective butts.

I laughingly told the buyer's agent that since the buyer was intent on stamping their feet and having a tantrum to advise them that they were welcome to camp out in front of the house, build picket signs and protest till the cows come home but it will not change the sellers departure time frame, which was less than 48 hours later.

I was pleased to be invited to golf the Arizona Biltmore's Links course this past Saturday. I have always loved the tranquility the Biltmore serves up. The course was in great shape and as always the staff was warm and friendly. There are homes that start at 700K and many in the area that top out near 25 million dollars or more. I viewed one up close that was 10.8 million and was just amazing, paved stone gated entry that led into a Tuscan style retreat with a four car garage. I imagined that any one, myself included could make home here. It had hand carved wood columns and floors inside and so many features I could not name them all if I tried. The exterior and much of the interior boasted stone and tile treatments and the walls, floors and ceilings. There was a grand ballroom upstairs next to the study. A luxurious hand tiled pool and patio faces the golfcourse and was the crowned jewel of this new home, I love this mediteranian beauty.

We need to set a standard, if they are willing to dump the payable at the time of the listing it shows me they do not know what they are doing and do not deserve the listing. If they give up money so quickly, how the heck are they to be expected to get a higher sales price for the seller? Do they adequetley represent the clients best interest or get it sold at all for that matter? If you are an agent out there and take less than a full commission listing.. YOU should take the hit on your side of the transaction. You have already sold yourself short because your services are less valuable but keep your hands off the other agents commission. I have very little respect for agents who offer less than 3% after they have taken a less than 6% listing in the first place. In short if you are a weak agent please, do not take listings. Go back to the basics and leave the listings to the experienced agents who know what they are doing, we will welcome you back after you have earned your way back in.

We are creating astronomical debt and beyond that where are we? We need to get a system in place that levels the playing field. Spending our way into oblivion is not going to cut it, we have trillions of dollars out of the country as countries like China and many others buy our securitized debt but what happens when the world bank decides to go in another direction? 

We need to get lean, our government is bloated, it is way too big and is full of career politicians. The government does not fear us, it bleeds us. If we do not get control of our fair lady the landscape of this country will forever be changed and not for the better. Downsize the government, halt the drunken spending they are doing after all they work for us right!? People are losing jobs and faith in themselves. We are now a nation of watchers instead of do'ers, are we too evolving into the next Roman republic? We have all but stopped building and exporting goods and have reverted to an entertainment based country just like what happened to the Romans, all we need are gladitorial arenas erected so our imprisoned brothers and sisters can fight to the death for our amusement on closed circuit TV. Running man movie reference anyone?

I want to see we the people, get control of this country. It is only through our collective will and determination that we will, challenge yourself to act and live within your means, question authority and do not accept less than what our founding fathers have given us.

The problem is credit has tightened and negative inventory has swollen to epic proportions so like the adage goes, cash is king and in the right hands it does compel people to do many things including accepting your offer to purchase. I think there are many valuable lessons to be learned as we emerge from this recession, don't overbuy. There is nothing worse than being house rich and cash poor. Spend your money wisely. Invest with confidence in our country our indomitable spirit will bring us all back.

The tax credit is going to fade away Nov. 30th so get your self in and closed escrow before then. Once this market corrects itself (my opinion AZ will follow the rest of the country 8-12 months behind national recovery) because of the overbuilding we did here. I really hope the fed's continue to pursue the guys who packaged up credit portfolios that they knew were toxic and sold them anyway, put them all in prison, their assets seized and distributed back to the investors and the American taxpayers that they ripped off. The market and our country will recover, just hold on and stay positive.

The argument can be made, why should I care if an investor looses his shorts to the lenders? Well in my opinion you should, it starts there and slowly erodes to you and I. If the lenders can just go after a homeowner why then would they agree to short sale a home? With our lagging market, bulging inventory and several more years of pain in front of us, why would we allow the lenders who propagated this mess to then also profit from it's decline by throwing us deeper into debt and into total turmoil? We for too long have let our country and our common rights as American's get away from us, we need to get this turned around and quickly. Let your representatives, your neighbors and family know what you think and decide upon some action.