Ok, so there are like 79,530 members of Active Rain now...Over 2500 online, thats enough unless all at once there is a massive coffee break. As we get more members, I notice we have a lot more cut and paste articles coming on, some posters lay 5 or six on at once, one right after another. They have one paragraph, enough for the minimum word count, and the next post picks up right after that with the next paragraph or so...Whats up with that...Points I guess...

Anyway, I am over here at Developers Capital Realty, LLC with a job on my hands. I have been flooded with pro formas of every imaginable type from many of you here at Active Rain. While I am pleased with the response, the variety of formats the pro formas are presented in give me a bit of a problem.

How do I compare all the projects, when they are all presented in so many different formats. I have one project, a very nicely detailed one, that is over 20 pages, one over 40 pages, with graphs and numbers and I am really lost in the amount of detail in these two,...But neither of them give me an exit strategy for my investors, so I have to root thru all this stuff to arrive at the numbers that will produce these answers.

Do ya think when we are sitting down in a conference room with the investors, that they will be so overwhelmed with a huge pro forma that they won't ask for when the money gets paid back....??? I can tell you, that question is always coming, lets be prepared for a reasonable answer.

Some pro formas are one page, I had one that had 6 projects on 2 pages. Heres a hint....If you are truly looking for millions of dollars to fund a deal, don't make us ask more than once for the basics..PLEASE.

Now, on to the main question...I have been researching a few template software  programs that will take all this disjointed information and break it out in a manner that is in a consistent format. This is imperative to me when comparing projects, we need an apples for apples approach. I have found a few that are not bad, but before we spend a few grand and get heavy in the learning curve, are there any favorites out there that someone could recommend.  Right now, we are looking at Argus and Tract-Pie Solutions...

What do you experts think!

For the Foreclosure Geeks like me out there, here is a site I found, I think I may have paid for it...I spent weeks ssending  off for everthing I could get cheap on Ebay..I literally have over 20 seminars on Cd, books and tapes.

What that means is that I now know enough to leave them alone unless they meet very certain criteria. My criteria meets my needs and those of my investors, and have a high potential for actually either be able to close in a short sale transaction..OR be able to take the property over subject 2 and close quickly, within a few months.

We use these same techniques on larger commercial buildings, and entire subdivisions. When you fnally learn the basic rules, it will make it easier to determine wheter or not to even go after a deal..Many of us here on Active Rain have shown frustration with taking months on deals that go nowhere. While no method is fool proof, you can get to a point where your percentages will go way up!!

Anyway, here is a collection of links, use them at your own risk, but I had no problems with the links...Hope you all can learn some things..

Good Luck.................................................................................................... 

About Foreclosure:  A Homeowner's Guide To What It Is, How It Works, And Options You May Have

March 2005

What is Foreclosure?
Foreclosure involves a lawsuit in which a bank, mortgage company, or other creditor seeks to take an owner's property to satisfy a debt. The bank or lender may actually take the property, or have the property sold to pay off the debt. As a result of the foreclosure, the owner loses whatever rights he or she had in the property.

Foreclosure is a court process, and you must follow the process carefully to protect your rights.  

Until your law day, you may avoid foreclosure by redeeming the mortgage or debt. In other words, you have until your law day to pay off what you owe to the bank or other party bringing the case. The amount due will also include attorney's fees and court costs.  Redeeming can be done in a number of ways: you could sell the property yourself or borrow the money from another lender.

If you do not redeem the mortgage by your law day, then people assigned the other law days are given a chance to redeem the mortgage by paying off the debt. If another person listed as a defendant redeems the mortgage, that person gets legal title to the property. If no one redeems, then the person or company foreclosing gets title to the property.

2.    Foreclosure By Sale

In a foreclosure by sale, a judge will set a sale date. On the sale date, an attorney appointed by the court, called the "committee for sale", auctions off the property to the highest bidder. The court gives the committee the power to carry out all aspects of the auction, including advertising in the newspaper and posting a sign on the property. The court issues an order permitting the committee to enter the property on the day of sale; however, the committee is instructed by the judge to enter only with the consent of the occupant. The money from the auction first goes to pay for the costs of setting up the auction, then to the lender and any other liens on the property. Then, if any money is left over, it goes to you.

If you pay the amount of the judgment plus any costs and fees incurred by the auctioneer prior to the date of sale, you can prevent the sale from occurring and protect your rights to the property. As with strict foreclosure, you can pay off the debt by either selling the property privately or by refinancing.

Unless you have a lot of equity in the property, you should NOT seek a foreclosure by sale.  (See section: What is Equity?)

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How To Proceed
Defending against foreclosure is complex and can be expensive. You must consider your options carefully, keeping in mind that you may end up responsible for additional legal and appraisal fees.

In order to defend in a foreclosure, you will need to pay close attention to court proceedings and deadlines. There are certain terms you need to know and steps you need to take. We have outlined these generally below.

1.     Summons and Complaint
The plaintiff (the bank, lender or other creditor) starts a foreclosure lawsuit by having a marshal (formerly called a sheriff) serve a Summons and Complaint on the defendant (the owner or borrower, other lien holders, and sometimes tenants).

In the upper right hand corner of the Summons is a date. It is called the return date. The return date is not a hearing date, and you do not have to go to court on that date. It is a reference point for when papers must be filed with the court. YOU MUST KNOW THE RETURN DATE TO FIGURE OUT THE DEADLINES FOR FILING PAPERS. (See Sample Summons).

The Complaint will state the plaintiff's (bank or lender) position in the case, such as that the plaintiff wants the foreclosure to satisfy a debt that has not been paid. (See Sample Complaint.)

2.    Filing an Appearance Form
The first thing you should do is file an Appearance. An Appearance is a simple form that tells the court that you are not ignoring the foreclosure. You can get an Appearance form at the Superior Court clerk's office or on the state's Judicial web site www.jud.state.ct.us.  Once you file the Appearance, you will get notice of whatever is happening in court.

You are not required to file an Appearance. But if you don't, you will not prevent the foreclosing lender from proceeding, nor will you be entitled to any further notices from the court.

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3.    Unemployed or Underemployed Defendants
In a foreclosure, the plaintiff must tell you in the Complaint of your right to apply for protection if you are unemployed or underemployed. While we talk about this in detail in the section titled Court Protection in Unemployment and Underemployment Cases, it is important here to note the special filing schedule.

You must apply to the court within 25 days of the return date if you think you qualify for protection because of unemployment or underemployment. Therefore, you must quickly figure out whether you are eligible for this court protection.

4.     Filing an Answer
Except for the 25-day deadline in unemployment or underemployment cases, you will have 15 days after filing the Appearance to send an Answer to the complaint.

Before you write an Answer, you should read every paragraph in the Complaint very carefully. Decide whether you agree with what is said in each paragraph, disagree, or do not know whether what is said is true or not. When you type up an Answer, say whether you agree, disagree or do not know whether you agree or disagree with each paragraph in the Complaint.

You should not agree with any paragraph you do not understand, or any paragraph that has something in it you do not agree with. For example, if the Complaint says (alleges) you have not paid on the mortgage for 6 months, and you have actually not paid for only 4 months, you should tell the court in your Answer that you are disagreeing with that allegation.

Next, if you have any defenses to the foreclosure, you should write that you have special defenses and briefly explain what each defense is. You should include all possible defenses. Be sure to sign the Answer.

You file the Answer at the Court Clerk's office and send a copy of it to everyone who has also filed an Appearance in the case. You will receive a list from the court of the names and addresses of others who have filed an appearance.  It is up to you to send every one of them a copy of anything you file in the case.

At the end of your Answer, you must put a certification of service. This is where you certify that you mailed copies of the Answer to everyone who has "appeared" in the case. You must sign the certification separately from your signature on the Answer.

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5.    Strict  Foreclosure or Foreclosure by Sale?
If you do not have any defenses to the foreclosure, you must decide whether you would be better off in a strict foreclosure or in a foreclosure by sale. Generally, if you do not tell the court which type of foreclosure you would like, the court will order a strict foreclosure.

If you want a foreclosure by sale, you should now file a Motion for Foreclosure by Sale with the clerk and send a copy of the motion to the lawyers in the lawsuit. (See sample Motion for Foreclosure by Sale)

A hearing will be scheduled where you will need to explain to the judge why you want a foreclosure by sale. The judge will probably want to know if the property is worth more than the total debt. Total debt includes more than just the balance of the mortgage. It also includes such items as the court and marshal's fees for filing the foreclosure action; attorney's fees paid by the bank; the cost of a title search by the bank; the cost of an appraisal by the bank; all the accumulated interest on the mortgage, plus the unpaid principal; and the costs associated with auctioning off the property, including several appraisals, advertising, and hiring people to conduct the auction.

This information tells the judge whether or not there is any Equity in the property.

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What is equity?
Equity in a property is what you actually own of the property. It is the difference between what the property is worth, and how much you owe on the property. When you are figuring out what you owe, you should add in all the mortgages and liens on the property, plus the costs of any foreclosure (see above).

Equity is an important factor in deciding whether to seek a foreclosure by sale or a strict foreclosure. Generally, you should seek foreclosure by sale if you have a lot of equity in the property - in other words, if the value of the property is much more than the total debt.

In a foreclosure by sale, the court auctions off the property. If the amount that comes in from the auction is more than the total debt, then you get the difference (Remember, your total debt may include more than just the balance on the mortgage.)

6. Judgment
Ultimately, the court will enter a judgment. The judgment may either dismiss the action or permit foreclosure. If the court finds that there should be a foreclosure, it will order either strict foreclosure or foreclosure by sale. In strict foreclosure, the judgment will set a law day after which you will lose your rights in the property. In foreclosure by sale, the court will set a sale date after which you will lose your rights to the property.

The judge may be willing to set a longer law day or sale date if you can show that there is a good chance that you will be able to sell or refinance the house.
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The Judgment does not cut off your rights to the property. 
It is the Law Day or confirmed sale of the property that ends your rights.

7.  Ejectment
Ejectment is the final step in a foreclosure. If you do not leave the property after the law date or the sale of the property, then the court will issue an order allowing the bank to get a marshal to throw you out. An ejectment involves two steps.

First a marshal will give you a copy of the execution for ejectment. This can happen as little as 24 hours before you have to move. The execution for ejectment is a notice that will tell you the time and date when the marshal will move you out.

Second, on the day and time in the notice, the marshal will arrive with movers. The movers will take all of your possessions and place them in storage. They may not be gentle with your belongings, and there is the chance that things may be lost or broken. After your belongings are put in storage, you have 15 days to claim them. If you do not claim your possessions within 15 days, the town has the right to auction them off.

NOTE: An ejectment only happens after the law day or sale date.

8.     Deficiency Judgment
A deficiency judgment is an order by the court, after the law day or sale date, that says that you still owe money to the lender.

In a strict foreclosure, if, after the law day, the property is worth less than your total debt to the lender, the court will enter a deficiency judgment against you. The amount you owe will be the difference between the total debt and the value of the property. A deficiency judgment following a strict foreclosure requires a separate hearing, and you have a right to be present and argue against the deficiency. The plaintiff is required to present testimony by an appraiser or an affidavit signed by an appraiser regarding the value of the property. You can hire your own appraiser to counter the plaintiff's appraiser, or you can simply ask questions of the plaintiff's appraiser to show that his or her conclusion of value is in error, or you can testify as to the value of the property.

Do I Have Options?

 

Defending against foreclosure is complex and can be expensive. You must evaluate your options carefully, keeping in mind that you may end up responsible for additional legal and appraisal fees. This section will outline some of your options.

The rights talked about here are very complex. Please do not use this information without checking with a lawyer.

If You Have a VA, HUD, FmHA or FHA Insured Mortgage...
You may have additional rights in a foreclosure. These rights are not discussed in this pamphlet. You should consult a lawyer as soon as possible.

1.     Selling the Mortgaged Property
In a foreclosure, an important alternative for you is to sell your property.

You can sell your property any time before the law day or sale date. Selling the property before foreclosure may save you legal and appraisal costs while preserving the true value of the property, particularly if you sell your property in the early stages of the proceeding. Throughout the foreclosure proceedings, you should consider conducting your own sale.

But remember, if you find a buyer for the property, you must be sure that the sale price is high enough to cover the total debt.

2.     Seeking Financial Advice
If you have failed to make mortgage payments because you were involuntarily unemployed, then the lender must notify you that you are entitled to financial counseling. The lender is required to send you a notice of the missed payment.

If you are involuntarily unemployed and want financial advice, contact the Department of Housing and Urban Development (HUD). HUD will provide names and addresses of financial consultants in your area. Or call Infoline at 2-1-1 to find an advisor in your area.

Because this is a new requirement, courts have not decided whether a lender's failure to send notice is a defense against foreclosure. In any case, if you are unemployed and have not received notice from the creditor, you should raise this issue in your Answer to the Complaint.

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3.    Emergency Mortgage Assistance Program
Under certain circumstances you might be eligible to receive assistance from the Connecticut Housing Finance Authority (CHFA) to save your house. Among the factors CHFA will be looking at is whether you had a significant loss of income beyond your control and whether there is a reasonable likelihood that you will be able to resume full mortgage payments in the future. In addition, they can also help people with refinancing in some circumstances when the property value of the home has dropped significantly since the mortgage was first taken out.

Like many programs, emergency mortgage assistance does run out of money. Plus, not all lenders participate. If you think you might be eligible, you should contact CHFA at (860) 721-9501 as soon as possible. If your bank participates, it is required by law to give you notice of the program (unless the program is suspended/runs out of money). If your bank should have provided you notice but failed to do so, you should mention it in your special defenses to the complaint.

4.     Eviction/Foreclosure Intervention Program
This program, administered by different agencies throughout the state, provides mediation and grant funds for delinquent conventional mortgages, and negotiates mortgage-holder agreements and payment rescheduling for delinquent mortgages. Eligibility for the grant funds is based on such criteria as income level, percent of income used to pay for housing, the reason for the arrearage, availability of funds, and your ability to make payments on time in the future. Grants are limited to a maximum of $1200 and must resolve the problem. A similar loan program may be available soon. Mediation is open to anyone in default. To find out which agency administers the program for your community, call the Community Renewal Team of Greater Hartford, Eviction Intervention Office, 560-5881; or Community Mediation in New Haven at 782-3500.

5.     Deed in Lieu of Foreclosure
If you believe you have little or no equity in your property and that refinancing or a private sale is not possible, you may want to consider offering title to your property to the lender instead of forcing it to go through the entire foreclosure process. If the bank chooses to accept the deed, your future credit rating may be helped, since you will not have a foreclosure in your credit history. You may also be able to negotiate giving a deed to the bank in return for its promise not to seek a deficiency judgment against you. One thing to bear in mind is that you may have to pay conveyance taxes to the state and town if you give a deed in lieu of foreclosure. You should seek the help of a lawyer if you think the option of deed in lieu of foreclosure is available to you.

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6.    Court Protection in Unemployment and Underemployment Cases 
If you have become temporarily unable to make mortgage payments because of unemployment or underemployment you can apply to the court for protection. In the proper case, the court will stay or postpone the foreclosure for a maximum of six months.

The laws governing unemployment and underemployment are very complex, and this section will not offer detailed advice on how you should proceed. Rather, this section is designed to help you decide whether you are eligible for court protection.

To decide if you are eligible for court protection, you must figure out if you have a realistic chance of earning enough money to pay off both future payments and your payments that are past due. If you expect to earn more money in the future and believe that the expected increase will be enough to satisfy the mortgage payments plus arrears, then you should contact an attorney.

CAUTIONS:

First, these protections only apply to first mortgages. Therefore, if the lender who is foreclosing is not a first mortgagee, the law will not protect you.

Second, as mentioned before, you have just 25 days from the return date in which to file an application with the court. If you believe that you are eligible for protection because unemployment or underemployment, contact an attorney immediately.

Third, the law in Connecticut states that a defendant who seeks protection under the unemployment/underemployment provision may not raise any defenses. The law forces you to make a tactical decision: whether to pursue your defenses (if any) or pursue court protection under the unemployment/underemployment statute.

NOTE:The lender is required by law to tell you in the complaint of your right to these protections. If the complaint fails to mention your right to court protection, then you should promptly notify the court. You should also mention it in your special defense to the complaint.

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7.     The Right of Redemption
At the time the judge issues the judgment, s/he will also set the law day or the sale date. Before or on this day, you can exercise your right of redemption. This means that you pay off the mortgage, all interest due, any court costs, attorneys' fees, title search fees and appraisal fees.

If you redeem you will need to get a Satisfaction of Judgment from the lender. This form should indicate that you paid off (or satisfied) the amount of the judgment. You must file the Satisfaction of Judgment with the court clerk and file a certified copy of it, along with the judgment, with the town clerk where the property is located.

By redeeming, you reinstate your original rights of ownership.

8.     Extending the Law Day or Sale Date
If you need additional time to sell the property or to redeem, then you may ask the court to reopen the judgment to extend the law day or sale date. You should remember that in extending the law day or sale date, the court may also increase the amount you will have to pay to redeem.

To reopen the judgment and get an extension, you must file a Motion to Reopen asking the court to reopen the judgment and stating the reason for the request; that is, why you need more time to redeem. You should explain to the court precisely how and when you plan to redeem. (See sample Motion to Reopen).

The motion to reopen must be both filed and heard before the law day or sale date. There is normally a 2 week delay between when the motion is filed and when the court schedules it for a hearing. There is a fee payable to the Court Clerk whenever such a motion in filed ($70 as of this writing). On the day you file the motion with the court clerk, you will need to send a copy of the motion to the lawyers of everyone involved in the foreclosure. Finally, you must attend the hearing that the court will schedule.

9. Bankruptcy
Under some circumstances, foreclosure may be prevented by filing bankruptcy. This is a very complex area of law, and should be considered only with the advice of an attorney.

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Foreclosure Filing Schedule:

You receive a Summons and Complaint...	(The plaintiff--bank, lender or other creditor--starts the foreclosure by having a marshal serve the defendant--owner or borrower--with a Summons and Complaint.)
Within 2 days of the Return Date on the Summons...	File an Appearance
Within 15 days of the Return Date on the Summons...	File and send an Answer.  Be sure to put a certification of service at the end of your answer, and that you have sent your Answer to everyone who has Appeared in the case.  You will need to sign the certification separately from your signature on the Answer. If you choose foreclosure by sale, file a Motion for Foreclosure by Sale   OR
Within 25 days of the Return Date on the Summons...	Apply to the court if you think you are eligible for protection based on temporary unemployment or underemployment

SAMPLE SUMMONS (sorry...unavailable on the web at this point)

Welcome to the Active Rain Blogging world. Its not often you will find a forum like Active Rain. If you are looking for a way to move up on Google, then this is your best bet. In fact, I cannot believe how quickly blogging on Active Rain will make a difference.

I suggest using phases that will show up in normal searches for your area in your blog. If you are in Lake County, Fl, then use Lake County, Fl in your blog. If you put a title like " Short Sales Specialists in Lake County, Fl in your title, then when someone is searching Google for Short Sales they will come across your article.

Try posting with your name in the title. If you put Mike Norvell Sr is finding bargins in Lake County, Fl in the title, then try putting the same thing in Google a few hours later...Yep, its that powerful.

Now, if you want to increase your odds of Google finding your content, then use BOLD. So, I might use Short Sale Specialists in Lake County, Fl in bold and this may help. I also recommend some titles that are very self serving, but get your point across. Try something like...Mike Norvell Moves to Developers Capital Realty....see that come up later in Google.

Also, use links ( once you learn how) to posts that you have already done. Google likes these links. Most of all, if you want to make a difference in your exposure right away, start posting to localism right away. I recently had a couple relocating to Leesburg, Fl that found a story I wrote about a 2 bed, two bath, owner finance doublewide mobile home...They liked what they saw, and when they came to Leesburg, Fl from Texas, guess what happened. Thats right, a deal was made in days....

There are posts on here that show you how to post to Localism..Mike Norvell is well known in Leesburg Fla on localism. It makes my phone ring. I am # 2 in Lake County, Fl and being # 2 still makes me featured in this Lake County, FL area. This is my example of how to write a story, get a point across, and still have Google find you to get your info to awaiting buyers...

Best wishes, from Mike Norvell Sr, of Leesburg, Fl  Specializing in Foreclosure & Short Sales of Subdivisions and vacant Land in Lake County, Fl......

One day I  will get that link thing under control.. In the mean time, I have been surfing Active Rain and other links..What a story I found, the former President of the NAR cannot properly price his house. He chose to list it over the market, and continued to to drop behind the market, waiting too late to drop.

And now, two years later, it is still on the market, nearly 200k less than what it started at. How can we trust the NAR to guide us when even the President is caught up in his own Rhetoric. The market is not improving, and banks are not making loans to many who want to buy a home. Many today who want to buy a home don't make the necessary salary required to purchase with 20% down.

I bet it is going to be another 2 years before he can sell his house, and I bet it will go down much further before it does sell. Does the American Public believe  that house prices rising forever is a good thing. Who will buy your home with these incredible increases. Some did come out on top, but millions more are stuck in homes that will be paid on for years, many , many years before they will even break even...

One of the funds my company works with has made it clear that it will take a month or more to just sit back and see what happens. All bids not currently accepted will , or have been withdrawn, and they will take a breather. I imagine they will re bid all the same properties for much less in a while.

We have all seen it, when the seller turns down bids they wish they could get a few months later. We should all get realistic at the same time. If you can't get what you need to break even on the house, then find a way to bring cash to the table. Or take it off the market and lease it out until the market returns. The only thing is, the market may not return to that level for many years. There is nothing to indicate that it will go back up soon, to the contrary, it shows all signs of continuing down to pre 2003 levels.

Here is the story from Business Week..Enjoy and reconsider your options, get with your sellers, and make some changes...Peace Out!

Hot Property

Guess who can't sell his house?

 

Posted by: Dean Foust on November 06

A little more than a year ago I posted an entry picking up on a Washington Post article noting that the president of the National Association of Realtors, Thomas Stevens, had been unable to sell his own house. The kicker was that Stevens, by his own admission, said that his agent had been advising him to drop the price and he didn't - and the house didn't sell. His comments at the time:

"Who knew last September how long this down trend was going to continue, ... You need to adjust the price... . But I didn't do that. And my house is still on the market."

"What I should have done, was listened to my agent and cut the price by $50,000 to $100,000 early on, and the property would have sold last October. ... I should have listed it a month earlier..."

Assume he's sold his house by now, right? When you assume, you...

Fourteen months later, and his house is still on the market, according to the Paper Economyblog. Of course, by now he's had to drop his price by $165,000, but the window may have closed. A lot of buyers are spooked by the downturn in the Washington, D.C. region (to see the trend, check out one of my favorite blogs, Northern Virginia Housing Bubble, which chronicles the trend in asking prices in the NoVa area), and are choosing to wait it out. His house has now been on the market for more than 700 days (!). C'mon, cut the price!! Cut the price!! The market is telling you something!! Cut!! Cut!! Keep cutting ‘til it sells!! Isn't that was Realtors tell us?

A tip of the cap to the folks at the DirectCurrentblog for catching this.

You can check out the listingfor his house, a Zillow estimate, and a video of the home.

Hello Active Rainers...Points are an easy commodity on Active Rain. For some, it appears it is the only reason for being here. I just found a series of posts that are obviously cut and pasted from some article on-line. One article right after another, with her smiling face right beside it like she is proud of her accomplishments.

So anyway, back to the tutorial. Start by naming your post with something like How to make points on Active Rain, a Short Tutorial. Actually, if you just combine some of these phrases together, it may work just as well.

Also try to name it along the lines of " My broker ran off with my wife and my commission check..I know I would check in for that one myself. Another favorite is How to insert pics, how to change the color of your fonts..That is a mind altering concept in-itself, one that no self respecting Rainer should be without.

Another tactic is to Use Bob Stewart in the title. He may even drop in to say thanks for mentioning his name, he is such a nice guy, its no wonder he is so popular here.

Another point grabber might be " How long should you leave your children in the car during a listing appointment?" I am sure if its a big listing with a very motivated seller you can get more time, but what about in the winter?? Does leaving the car running with heat, as long as the kids are securly strapped into their car seats??, and with gas prices being what they are, AC on in summer.. Who knows, but it will get you points. Maybe even a call from a police officer or two, but they aren't likely to be reading Active Rain.

One of my favorites is " Should you allow yourself a big bean burrito smothered in chili cheese sauce before a listing appointment in a closed office environment"... I personally have the answer to this one, and I can highly recommend the appropriate time is one full day...Nothing like pressure from a big deal to get the ol stomach churning up room blasting odors after a double helping of that creamy yellow dipping cheese sauce, mix in some spicy green chili salsa... let your conscience be your guide..

By far, the best choice of a point grabber is "Should I take this overpriced listing from My Aunt Mosley, even though she is on the same committee to save the Historic Church Building foundation I am on with my Mom and her cousin"  Now there is a 500 pointer, just by weight alone. If you can some how incorporate small puppies into the same title, it might bring in another 200 points on the cute factor..

There are many ways to make points here on Active Rain, but most any title that gives starving Realtors and Mortgage Brokers an opportunity to vent, or learn how to colorize their otherwise boring fonts is a great way to get to the top of the proverbial heap.

I can't guarantee this will bring any business, but if points is what you want, these are some sure fired winners..

As always, comments are always appreciated....

Hello Active Rainers wondering if they should stay in the business...Maybe so, maybe not...Maybe there is a niche you should be in, maybe a different town to specialize in. Many are frustrated and running out of options. With this in mind, I offer this post. I started tis as a response to a Post from Katerina and Nestor from Wellington Fla. They offer great advice to all Realtors, and I have read all of their posts with great interest.

I never was cut out to be a "normal Realtor". SO maybe I should have never went into the list a house and wait for a buyer route. Maybe it was just timing that hurt so many of us, trying to sell homes in a market that was in a recession long before the "media" would admit to it.

I see many I used to think of as long time Professional Realtors out selling advertising, copiers, doing books. Good for them, I know everyone needs to make a living. Normal Real Estate has gotten brutal, no sense going down with a sinking ship...Right?????? 

As you know, I made a similar decision to work differently in Real Estate, and the changes in my career are all I could ask for. I too believe it is important to recognise that timing is important in any venture. I remember back many years ago when I was opening my third auto repair shop in 3 years. An older salesman, nearing retirement, was taking me to lunch after making a sale to me that would most likely be the one that he used for his retirement kick off. We had been talking for years about things, and when I made the decision to to a major upgrade of all the shops at once, he was who I went with. For this, he gave me great advice, advice I think of to this day.

He said that everything comes in cycles, and that I should not take too much credit for my recent success. It was just timing and locations, and that I was riding a wave that I should plan on getting off of in the near future. I was very nearly insulted, but in deference to his experience, I took what he was saying in perspective...Had I listened to him, I would have cashed out five years earlier for triple what I got years later. Selling into the boom is the smartest thing to do but flies into the face of conventional wisdom.

I hope I have learned from my mistakes, and hope to assist others in making valued judgments on when to buy and sell in any market. My recent move into a firm that allows me to make up reports on distressed subdivisions has given me access to the early pro formas that were created to fund these projects in the first place. From a timing perspective, had they broken ground and started building 5 years sooner, then the projects would have done well and the individual homeowners would have been stuck. As it its, many of these projects were put on hold or held up due to the massive amounts of building going on, and were held to a different set of standards in terms of outside financial pressures that earlier projects were able to escape from. One project in particular is saddled with impact fees that have nearly doubled since the project was started on paper. In light of recent problems, most communities are asking (demanding) their impact fees UP FRONT, which completely changes the way funding has to be arranged for the developer.

Whats the point of all of this, You might ask?? Lately, I am seeing dramatic patterns in projects that were designed with a constant future value increase built into the financial. Without the increases, the projects won't work. With decreases in value of home prices and lot sales, there is only one possible result. We are seeing the results of plans built solely on future value projections.

The picture of the donkey below is a great illustration of what happens when you overload your wagon....Think about that one, buddy.

I have found a really great software program that is allowing me to take any project and input the numbers.  It is amazing how it removes the "romance" and "blue Sky" out of the proposal and lays it out in over 50 different ways, what a way to evaluate and make decisions...If this had been used on so many of the failed projects we have looked at recently, different decisions would have been made.

 If you have a project you can't figure out, I might be able to help, this program takes out all the guess work!!

 I can imagine that in any area of fast growth over the last few years we will find projects that are lagging, and will need an infusion of cash to bring them back to life.. Many of them will just go to the banks, because no one can justify the amounts needed to bring the projects back to life..

I hope I did not hijack my own  post...I am on the backside of an Double Espresso Mocha Smoothie that has me cranking at the keys... I learned to make these at home rather than pay Starbucks ....I hope I don't get a headache later....

              See ya ..I gotta go  check on my wife, its time to make sure she moves around a bit in between her pain pills....If you haven't read the post before this one, then I must say I am home for 3 days making sure she is taken care of after her mouth surgery.. She can't really talk,not with all the packing,  and with all this sleeping I am missing my best buddy..I think I will just go wake her up, and I will do the talking...

    Its a rainy Saturday Morning in the neighborhood. Its quiet, and outside our window is a large tree with a dozen or so small birds that are learning to fly..Thier occasional light chirping is all that interupts the quiet of this Saturday morning. This is the beauty of living in Leesburg, Fl....quiet country life within minutes of all the advantages of a small city...malls, resturants, shopping...

     Being from Florida, I don't keep up with the seasons, but it feels like a rainy Spring morning. Temps are in the low seventies, with a light rain, and just enough breeze to move the curtains. The cats are hovering protectively around the bed, watching over my wife who finally is sleeping. Its been a rough night for us, especially her, as she goes thru a painful healing process.

Yesterday, we both took the day off to take her to a dental procedure. It entails rebuilding her bottom gum line with a skin graft taken from the roof of her mouth. This is her third procedure, and even though we know what to expect, we were both nervous on the way to the surgeons office.

The procedure went as planned, and my wife was led out to our waiting car, still under the effects of the anesthesia. I drove her as smoothly as possible to our home, thru a wicked maze of traffic congestion made more difficult by the road construction on a Friday afternoon.

After making her comfortable in the bed, I had time to think about how lucky we are in this point of our lives. Our house is smaller 3/2, but very comfortable for just us two and the cats. Thru the boom we resisted the urge and all the offers to use the ever increasing equity in our home to move into something newer and much more expensive. Our home is nearly paid for, and even with the recent downturn in the economy it is comforting to know that its worth over three times what we initially paid for it.

Many years ago we made a decision to live well within our means. My sleeping wife is the author of this master plan, and I quietly thank her as I check on her again. We have been together for nearly 22 years, and its hard to imagine what life would be like without her. This was a simple procedure that she will be over in a few days, and  then she will be able to go back to work and our normal life. I am gratefully for the fact that we have our basic good health, and a plan that will carry us into our next stages of our life.

On this Easter weekend, I challenge all to quietly pledge to tell your spouses, children how much you love them. Tell yourself how much you cherish every day that you have to share together. When it all quiets down at the end of the day, its our family that is most important, and only they will be there to share our lives.

I see so many loves being challenged now with the mess of foreclosures and job losses. I see the pressure this is placing on many families. Living in a world of credit without putting anything aside is not a plan for any kind of future. Again, I have to thank my wife for being the strong one to insist that we concentrate on family values instead of financial excess. As Realtors, I challenge all of my peers reading this to keep this in mind while we are showing properties to our clients. Imagine that there will be times when things will go wrong, and they will need to have reserves. They will need to take time off to take care of their family, without worrying about the basic bills. We have a responsibility to try.

Enjoy your family, and pledge to take steps to get your life under control. Make spending time with your family a priority, just like an appointment. This involves planning and a commitment to what should be most important in your lives. Ask yourself, do I live to work, or work to live??

Earlier, my wife was up for a bit, and she told me she could call her Mom to come and sit with her if I needed to go and see clients. I told her that she was my only client for these 3 days, and to please just get her rest. She smiled, and gave me a small hug before laying back down and gently petting Shadow, our big black cat. The pain pills are kicking in again, and I know she feels secure that I will be here to take care of her when she awakens. This is our pledge to each other, and it gives us great comfort in our relationship.

Happy Easter, all. Please take care of your family and friends.

 The Overseas Markets are going crazy. The mortgage backed securities are being dumped, and no takers are in sight. Bear Stearns, is experiencing an old fashioned Run On The Bank...and there is no cash left, just a few billion dollars worth of now devalued securities that can't be used as collateral any more.

So Last night, before it could get any worse, JP Morgan Chase makes a deal to purchase Bear Stearns for $ 2.00 per share..........My email inbox this morning is full of sideline investors that are wanting to get started on making their move...or should we wait a bit more....How low can the markets go??   WHO Knows..but lets get started!! Call or email Mike Norvell Sr soon...

By 10:00AM this morning, JP Morgan Chase is up 9%, and climbing.. Surprisingly, Citi Bank takes off as well, as the market starts leaning toward signs of financial stability.  Its 10:45 AM now, and suddenly Bear Stearns is up again, trading over $4.79.....which seems great until you think that last Friday at close it was at $30.00...Wow!!

What does this do to the Real Estate Market?? Well, the Huge Bear Stearns Building was put up like a gold watch on the last hand of a high stakes poker game. JP is up about a billion for making the bold move, and the worst case scenario is that the building (Read Super Prime Commercial Real Estate) will be available for a fraction of the normal cost..Reports are saying as low as 30 cents on the dollar...Not bad, if you are a JP Morgan Chase Stockholder. Update...JP Morgan Chase is now up over 11%..in one day..thats more than is expected in a year!!

If you are a Bear Stearns stockholder....you are wiped out...Large scale investors have been going more cash positions, and are looking for great deals. Developers Capital Realty, LLC is working with some of these large scale investors looking to purchase great Real Estate Deals. We are looking for deals that make sense.

JP Morgan Chase has made a multi billion dollar deal because they were ready to pick up the pieces. It will go down as a great move, one that makes the stockholders huge gains. They did save Bear Stearns from going bankrupt, which would have had a much greater impact on the total market. 

The bulls eye of this crisis is the HOUSING MELTDOWN.  We have a multi trillion dollar equity loss in the works now, and without a fast bailout of this situation to stabilize the market, it will GET WORSE. I can tell you this, we have a pile of single family subdivisions to look at that are in trouble. This will not help. President Bush and Bernake better get their head out of the clouds and do a major bail out now...

Please remember...a Recession is the forerunner of Depression...moving in with a few hundred billion to take the foreclosure problem to the table in a major way is the only way out...We should not wait any longer..this is known as the "Death of a Thousand Cuts"...How many more big players will get laid out before the Fed makes a major restructuring move in the  mortgage market. In the meantime...watch out for great deals and be ready to buy...& hold...Flipping is now a long term situation..But, this will be a time in the history books as when smart players made it huge.....Developers Capital Realty, LLC is ready to help find the deals that make sense! Call Mike Norvell Sr to discuss how we can work for your investment in Real Estate Deals.

My name is Mike Norvell Sr, and I am with Developers Capital Realty, LLC.  Our current emphasis is on finding subdivisions that are close to going under. We will examine the property, go over all the financial we can find, and then make an offer...

It seems so easy,  but many subdivisions in trouble do not advertise. I still do not know where to look for the category, Subdivisions in Trouble.  I talk to builders, loan officers, and other Realtors. I call on Commercial Realtors to discuss what they might have heard.

If all that fails, I send my buddy the dog out with my business cards to "Sniff Out" the deals. He is cute, not really my dog, but I just loved the picture!!

Like any situation, the sooner the owners of a troubled subdivision seeks help, the sooner something can be done. Banks are willing to deal subdivisions more readily than they are single houses. Developers Capital Realty, LLC represents institutional investors that have very specific criteria. We are seeking single family subdivisions, with permitting and platting in place for other phases. We also are looking for large tracts of land, that can be subdivided into housing.

Mike Norvell Sr. is willing and ready to send over non-disclosure/non-circumvent documentation to completely protect your interest. Developers Capital Realty will go out of our way to do whatever is possible to make any Referral Source feel comfortable. We need your leads, we will make every effort to establish a long term, confidential relationship. We have an established track record of Joint Ventures that have made money for all parties. We will work toward keeping it that way!!

Developers Capital Realty, LLC is looking for deals that make sense. Call Mike Norvell Sr today, and send me an email to set up a confidential meeting. Thanks for your time

Its 5:30 AM and I am reading the updates from the Orlando Business Journal.

In it we can find who is getting promoted, who is getting relocated, who is looking for a way out. There are clues that may be interesting to those who want to know which way your area is growing.

The Business Journal has a neat little button up top on the right. This button is on a drop down box that allows you to look on-line at 20 or so other Local Business Journals, from Atlanta to Portland, to Phoenix Arizona. Houston has one too. See if there is one covering your area!! I really like Texas................  http://sanantonio.bizjournals.com/sanantonio/daily_email/?d=2008-03-14

         There are stories about companies getting contracts that will be placing hundreds of new employees from another area into relocation. I saw a story about a new hospital breaking ground soon, this will mean more than just jobs at the hospital. It will mean vendors, and all forms of support personnel from maintenance to computer sales.

YA THINK SOME OF THESE PEOPLE MIGHT BE CONSIDERING BUYING PROPERTY?

      Realtors need to know what is happening in not only your little area, but in the surrounding areas. A new shopping center complex going in a few miles away will be good work for contractors, builders, and even local supply business. Car lots will get more business too, as these people upgrade their fleets and even the carpenters wife may get  newer mini van for doing the soccer mom thing.

We should know that home sales follow jobs. The problem with the run up in prices is that the income ratio of many people wanting to buy homes is no longer sufficient to qualify for many of the homes that have been built.. Thats why jobs are important. Jobs equal income which equals financial liquidity within the community.

I hope the average of 57 people that read my posts gets the point I am trying to make here..Knowledge is power. Get strong as hell.....