Archive for April, 2007

Coldwell Banker releases corporate Blogs

Wednesday, April 11th, 2007

http://blogs.coldwellbanker.com
Coldwell Banker has release a corporate blogging platform for their real estate agents to use.

The Real Estate Tomato has covered most of the bases in their writings:
http://realestatetomato.typepad.com/the_real_estate_tomato/2007/03/coldwell_banker.html

I am not going to pass a judgement on the site at all but I think that is shows the importance of blogs to to realtors and to mortgage professionals. Even though the execution may not be there at this time, this is Version 1.0 and one of the first corporate blogging tools we have seen.

The main concerns with building your blog inside the corporate walls is portability and permanance.
If the real estate blogger decides to change companies they will lose their blog and all the history , links and traffic that they have accumulated…..

Original post by mortgage blog

Mortgage and Real Estate Marketing

Tuesday, April 10th, 2007

Anyone that knows me knows that I am very bullish on the idea of small companies and individuals using the internet to compete with companies of any size - the great thing is that on the internet everyone has the same amount of monitor screen size as everyone else….

What the smaller companies are lacking however is internet location - a good descriptive domain name.

Most of the good domain names have been registered so people are left to either a second tier extension .net, .biz and the rest or they will use a non-descriptive name like their own name or company name.

The development of your own permanent domain name is important , you don’t want to build your internet presence inside of a corporate website. The company can go under, be sold or most likely you will leave the company and have to start all over. By all means get your own domain name and build your own permament home on the web.

But having your own web site does nothing for your true internet location

Suppose you are an Atlanta realtor named Sue Jones. You registered suejones.com and have developed a nice web site. This is only half of the solution - you now need a better internet location - suejones.com is on the backstreets and she wants to be at the corner of first and main on the internet for our business.

The best web address for Sue is AtlantaRealEstate.com but it is registered. However with a new company called LeaseThis.com Sue can now lease or rent AtlantaRealEstate.com and send the traffic to SueJones.com

http://www.leasethis.com/index.php?cmd=Page_Finddomain_Domaindetails&categoryid=8&domainid=1

Now people that type in AtlantaRealEstate.com see SueJones.com. Sue has moved from the back alley to the corner of first and main for the Atlanta real estate market.

Advantages of using AtlantaRealEstate.com vs SueJones.com

  • People relocating to Atlanta will find SueJones.com
  • Sue will get the calls, emails and leads that she would have never been able to get.
  • List with Sue she will get your home on the front page of AtlantaRealEstate.com
  • Advertise on the radio or billboard
  • AtlantaRealEstate.com is a name they will remember
  • It perfectly describes her business - Sue is Atlanta Real Estate

  • Instant credibility - she must be good is she has that domain name - she is a “player”
  • Positive ROI - how many extra deals per year does she need to do cover her costs? 1 or 2 deals PER YEAR

LeaseThis.com just launched and Real Estate is the first category they are leasing. There are hundreds of great real estate domains available for rent - so grab yours before your competitor does.

http://dnjournal.com/articles/companies/leasethis-january2007.htm

See HollywoodRealEstate.com as an example of leased site

http://www.hollywoodrealestate.com vs
a parked site
www.hollywoodrealestateagent.com

Original post by mortgage blog

Calyx Software

Tuesday, April 10th, 2007

Please welcome Calyx Software to Broker Outpost!

Calyx Software helps mortgage brokers and direct lenders increase their profitability by providing reliable and affordable software - connecting loan officers and processors to their customers and to numerous lenders and service providers, using technology that allows all parties to exchange data easily. This seamless interaction increases efficiency and maximizes profitability by enabling more loans to close more quickly.

The Calyx Solution includes these products:

* Calyx Point is the mortgage industry’s leading loan marketing, prequalification, origination, and processing software. With its breadth of forms, functions, and flexibility, Point provides a single point from which mortgage-based information is exchanged with a wide array of lenders and service providers.

* Calyx WebCaster makes it easy for you to have an attractive, fully functional web site - without incurring the time and cost of developing one from scratch. Easy to use, affordable (only $24.99 /month with no contracts or setup fees), and fully integrated with Point(r) and Point Data Server, WebCaster creates web sites specifically designed for mortgage professionals.

* Point Data Server helps you share loan file, loan template, and Cardex data quickly and securely on a central server, making Point files accessible from any location - even while you’re on the road.

For more information, please see www.calyxsoftware.com or call (800) 362-2599.

Original post by Darin

Tenant-In-Common & 1031 Exchange Ownership

Friday, April 6th, 2007

CoStar talks with SCI Real Estate Investments to uncover the basis behind this growing ownership format.

According to CoStar COMPs, investors closed $22.7 billion of 1031 exchange transactions in 2006. The number of commercial properties being exchanged has been consistently increasing over the past five years and is nearly double that recorded in 2001.

One of the most active 1031 investors, SCI Real Estate Investments, has amassed a portfolio of approximately $1.5 billion by specializing in the tenant-in-common, 1031 exchange form of ownership. The Los Angeles market has experienced rapid growth recently and will be snatching up more than $2 billion in property over the next two years.

Read full story »

In addition to the information provided in this article on a TIC Sponsor it is just as important to understand how the TIC Sponsor underwrites and
finances the tranactions and what assumptions are made on the property.

Commercial Loan News from Steelhead Capital, Inc

Original post by Steelhead Capital

Tenant-In-Common & 1031 Exchange Ownership

Friday, April 6th, 2007

CoStar talks with SCI Real Estate Investments to uncover the basis behind this growing ownership format.

According to CoStar COMPs, investors closed $22.7 billion of 1031 exchange transactions in 2006. The number of commercial properties being exchanged has been consistently increasing over the past five years and is nearly double that recorded in 2001.

One of the most active 1031 investors, SCI Real Estate Investments, has amassed a portfolio of approximately $1.5 billion by specializing in the tenant-in-common, 1031 exchange form of ownership. The Los Angeles market has experienced rapid growth recently and will be snatching up more than $2 billion in property over the next two years.

Read full story »

In addition to the information provided in this article on a TIC Sponsor it is just as important to understand how the TIC Sponsor underwrites and
finances the tranactions and what assumptions are made on the property.

Original post by Steelhead Capital

Hines Bullish on Sacramento Office Markets

Friday, April 6th, 2007

More Blackstone Property Flipped in Record-Shattering $750M Office Transaction

Not to be left out of the ongoing redistribution of Equity Office Properties massive office portfolio, an affiliate of Houston-based Hines Interests LP has locked up the former EOP’s 2.4 million-square-foot Sacramento office portfolio, including the 502,365-square-foot Wells Fargo Center at 400 Capital Mall, CoStar News has learned.

The transaction, valued by sources close to the deal at more than $750 million, or $312.50 a square foot, is the largest transaction in the history of the Sacramento market by a wide margin. The acquisition, for which Hines outbid San Francisco-based Shorenstein Properties, is expected to close May 1.

Read full story »

Looks like Blackstone/EOP’s transactions will have a positive spillover effect for the Sacramento office market. We can see institutional investors developing a bigger appetite for office property investments in this region.

Original post by Steelhead Capital

Battlecall.com - Ghost Review

Thursday, April 5th, 2007

The following is a ghost review. This review’s ghost writer is Rob Lawrence. Battlecall is an affiliate advertisor.

Battlecall.com, Affordable Quality Mortgage Training That Helps You Hit The Ground Running

One of the best kept secrets of the mortgage industry is just that—the mortgage industry itself! As anyone new to the business can attest, most company training programs consist of some old leads and a phone book. With the exception of a few large companies, most mortgage broker firms don’t have the time nor the desire to do much more than that. After all, being a loan officer is a sales job and if the person can’t pick up the phone and sell, how can they be expected to get much further than that and actually close a loan. Not to mention that the mortgage business can be big money and the top producers aren’t likely to spill their secrets anytime soon.

There are a number of mortgage training products out there, many mixed or of poor quality. And all too often, very expensive…with yearly subscriptions costing thousands of dollars and success not guaranteed. In recent months, there have been some new entrants to the mortgage training market providing a fresh face and new insight into the industry. One of the most interesting ones out there is a site called Battlecall.com, http://www.battlecall.com run by Rob Lawrence, a mortgage broker of 5 years, now a mortgage trainer. The site has an unusual name, but I think that’s why I like it because it says what we face everyday. Selling mortgages is a daily battle and we have to fight in order to win business. He even calls his members, “mortgage warriors”, I like the sound of that.

The site is stuffed full of over 1,200 sales and marketing resources, downloadable spreadsheets and tools, audio lessons, templates, and more. Rob covers a lot more than just the mortgage business and you’ll find a lot of useful information on real estate investing, equity repositioning and mortgage planning, as well as condo conversions and land deals. After all, if you have the insider knowledge on how the real estate industry works you might as well put it to good use and consider doing some property investing on the side. That’s where Battlecall really shines in putting arcane mortgage knowledge to practical use.

Some people have likened Battlecall.com to the “poor man’s mortgage training kit”, and I would say that that description is not far off. The site offers a lot of what some of the titans out there has but a whole lot more. Plus, it’s affordable for even the greenest new loan officer and the subscription cost won’t break the bank. Battlecall.com seems to be a smaller leaner operation than the big boys and develops new training material as the members request them. In that way, they are much more responsive than some of the bigwigs of the industry out there.

Overall, I’d give Battlecall two thumbs up. There is a tremendous amount of value inside the site and even if you close just 1 extra loan with their help, it’s well worth the investment. Give it a try and let me know what you think.

Original post by Todd

Mortgage industry changes as Mortgage Companies continue to fall

Tuesday, April 3rd, 2007

It’s been a while since I have posted anything here. I almost gave up the idea of blogging just because it takes so much time to keep up with it, but I figured I would rather give something rather than nothing.

Lot’s of change has taken place over the past several months in the industry and even with Consumers Advantage Mortgage. We are in the process of partnering with another firm to best serve our clients as the industry has really taken a downward turn. We are also launching our real estate division, and in particular seeking to serve those that are facing foreclosure as so many are.

Mortgage delinquencies and defaults are at a high which has lead to the demise of several mortgage companies. Most recently, New Century Mortgage filed for bankruptcy and they were certainly not the first mortgage company to go down this road. They actually owe us some money and I am not sure if we will ever see it, but more than that, they were one of our premiere providers (on top of being one of the top sub prime lenders in the industry). I won’t bore you with the list of companies that have fallen or have cost us thousands of dollars, but I will say this - the industry is changing, and even seemingly strong companies aren’t surviving. In this regard, being a smaller company is a benefit because we can change with the market a lot more rapidly than a major corporation.

It is now harder to get a mortgage for those that have had credit challenges. This is due to many sub prime lenders closing their door and/or filing for bankruptcy and the remaining companies offering few options for those that have had credit challenges. It is now more important than ever to know what underwriters are looking for, and one way to do this is to buy my book, “How to get a home mortgage after a bankruptcy or other financial mishap”. It is the same book that was originally titled, “The Bankruptcy Mortgage Book”, but I decided to change the title to make the message more clear. Visit www.thebankruptcymortgagebook.com to get an electronic or print copy. This isn’t just a shameless plug for my book, but rather it’s why I wrote the book - to help people that have had credit challenges get approved in a shorter amount of time, while getting the best rate and fees.

If you are looking to sell your home, you may find that there are fewer qualified borrowers now in the market because of the tightened lending requirements. If you are looking to buy a home, now is an even better time to buy a home because there are so many more of them sitting on the market. Even if you have poor credit, there are options for you including the “lease-purchase” (a.k.a. lease-option” which I will write about next.

On closing, if you or some you know is facing a foreclosure or having trouble paying your mortgage, please have them contact me: www.atozlender.com/real-estate-services.cfm

Make it a great day!

Anthony

Original post by AnthonyK

When Good Real Estate Goes Bad

Sunday, April 1st, 2007

For a variety of reasons, once-prosperous neighborhoods can go bust. Sometimes they struggle to hang on. Sometimes they can’t

Original post by BusinessWeek Online — Investing