Tuesday, February 2, 2016

Bank Owned Home Properties in Fresno & Clovis -12 Month Low (Dec. 15)

The total number of Residential Bank Owned Properties in Fresno and Clovis has seen a decrease of 13% from December 2014 to December 2015.    




If you have any questions on this information or want specific information on the Fresno/Clovis Real Estate housing market, please contact Greg Maroot of Maroot Properties at 559-994-0254

Source:  PropertyRadar. Maroot Properties herein deemed this information is reliable but not guaranteed; representations are approximate, individual verification recommended.

Greg Maroot
Maroot Properties
Owner/Broker DRE #01102553
5067 N. Mariposa St., Ste. 102
Fresno, CA. 93710
(559) 840-0232 Work
(559) 994-0254 Mobile

Web Site:  marootproperties.com 

Wednesday, January 27, 2016

Miami and Manhattan target for Money Laundering - US DOT on the hunt!

Title Companies in Miami and Manhattan to Report Cash Purchases
 
Pursuant to a Geographic Targeting Order from the United States Department of the Treasury, title companies in Miami - Dade County and Manhattan will be temporarily required to identify the natural persons behind companies that are used to make all cash purchases for high-end residential properties.  This reporting requirement will begin March 1, 2016 and end on August 27, 2016 and will apply to purchases of more than $1,000,000 in Miami and $3,000,000 in Manhattan.  The Treasury is concerned that some buyers of high-end properties may be using LLCs or other structures to hide their assets and engage in money laundering.  The Treasury has characterized this move as a valuable data-seeking move that will assist them to "combat money laundering in the real estate sector."
    
 
While there are long standing rules about reporting cash transactions exceeding $10,000, this move is a slight twist in asking title companies to gather information about the beneficial owners of the purchasing entity. The Treasury is seeking the information from title companies because title insurance is issued in the vast majority of real estate transactions and they have expressed their appreciation for the cooperation of the American Land Title Association in this effort.
Miami and Manhattan are the initial focus of the Treasury effort because of their attraction for all cash foreign buyers.  Although not indicated or implied in Treasury's announcement, some have wondered if Los Angeles might not be far behind.

Brought to you by Christine Cerda COREsolutionsgrp.com

National Home Trends Soar in December

December Sales Surge 24.7% from a TRID-Depressed November; Median Prices Flat in December, Up 7.1% Y-o-Y
Read full report online.
View this email in your browser

Real Property Report – California, December 2015

December Sales Surge 24.7 Percent from a TRID-Depressed November

Median Prices Flat in December, Up 7.1 Percent Y-o-Y
2016 Real Estate Market May Benefit from Stock Market Volatility and Fears

 

“Cash sales as a percentage of total sales remain historically high,” said Schnapp. “Despite high prices, real estate investing remains an attractive alternative in an interest rate constrained environment where other asset classes are losing favor.”

“The new FED disclosure rules (TRID) that went into effect in early October are still impacting sales,” said Madeline Schnapp, Director of Economic Research for PropertyRadar. “The new paperwork requirements slowed the mortgage application process in November pushing sales into December. The artificial TRID disruption to November and December sales data will simply be an economic footnote by end of January.”

VIEW THE ENTIRE REPORT PLUS ELEVEN VISUAL CHARTS COVERING:

Home Sales, Year-over-Year Home Sales, Median Sales Price vs. Sales Volume, California Home Owner Equity, Cash Sales, Flipping, Market Purchases by LLCs and LPs, Market Sales by LLCs and LPs, Trustee Sale Purchases by LLCs and LPs, Foreclosure Notices and Sales, Foreclosure Inventory.
Copyright © 2016 PropertyRadar, All rights reserved.
You subscribed to the California Real Property Report on the PropertyRadar website when you signed up for PropertyRadar.

Our mailing address is:
PropertyRadar
12242 Business Park Drive
Suite 20
Truckee, CA 96160

Add us to your address book


Brought to you by Christine Cerda, COREsolutionsGrp.com


Thursday, January 14, 2016

Number of New Listing of Homes for Sale in Fresno & Clovis – 12 Month Low (Dec. 15)

The total number of new SFR home listings for sale in Fresno & Clovis has seen a decrease of 15% from December 2014 to December 2015.         



If you have any questions on this information or want specific information on the Fresno/Clovis Real Estate housing market, please contact Greg Maroot of Properties at 559-994-0254.

Source;  Clarus MarketMetrics:  Maroot Properties. herein deemed this information is reliable but not guaranteed; representations are approximate, individual verification recommended. Real property transactions information listed above is limited to Fresno MLS listings and may exclude total number of real property transactions which occurred in the marketplace.

Greg Maroot
Maroot Properties
Owner/Broker DRE #01102553
5067 N. Mariposa St., Ste. 102
Fresno, CA. 93710
(559) 840-0232 Work
(559) 994-0254 Mobile

Web Site:  marootproperties.com 

Number of Home Listings for Sale in Fresno & Clovis – 5 Month Downturn (Dec. 2015)

The total number of SFR home listings for sale in Fresno & Clovis decreased by 15% from December 2014 to December 2015.      



If you have any questions on this information or want specific information on the Fresno/Clovis Real Estate housing market, please contact Greg Maroot of Maroot Properties Inc. at 559-994-0254. 

Source;  Clarus MarketMetrics:  Maroot Properties herein deemed this information is reliable but not guaranteed; representations are approximate, individual verification recommended. Real property transactions information listed above is limited to Fresno MLS listings and may exclude total number of real property transactions which occurred in the marketplace.

Greg Maroot
Maroot Properties
Owner/Broker DRE #01102553
5067 N. Mariposa St., Ste. 102
Fresno, CA. 93710
(559) 840-0232 Work
(559) 994-0254 Mobile

Web Site:  marootproperties.com 

Monday, January 4, 2016

Where are the Non Performaing Loans going? Fortress, Goldman Sachs today you say...

Fannie Mae, Freddie Mac Continue Aggressive Campaign to Sell Non-Performing Loans

money-life-preserverIt is not yet midway through the week, and the GSEs have already had a busy week with their aggressive campaign to excise deeply delinquent, non-performing loans (NPLs) from their respective single-family residential mortgage investment portfolios.

Fannie Mae announced the winners in its third NPL sale on Tuesday, and on Monday Freddie Mac announced its eighth NPL transaction of 2015. Both transactions total approximately $1.2 billion in unpaid principal balance (UPB).

The Fannie Mae transaction totaled approximately 7,000 loans with about $1.24 billion in UPB, divided amongst three pools. Fannie Mae began marketing the loans to potential bidders on October 9 in collaboration with Credit Suisse Securities (USA) LLC, Bank of America Merrill Lynch, J.P. Morgan Securities LLC and the Williams Capital Group L.P. The breakdown of the three pools is as follows:
  • Pool #1 consists of 1,963 loans with an aggregate UPB of $418.8 million; the average loan size is $213,366, and the loans are delinquent an average of 52 months. The weighted average note rate is 5.21 percent and the weighted average Broker Price Opinion (BPO) LTV is 108 percent. The winning bidder on this pool was Fortress (New Residential Investment Corp.).
  • Pool #2 consists of 3,823 loans with an aggregate UPB of $588.3 million with an average loan size $153,902. The weighted average note rate is 5.32 percent and the weighted average BPO LTV is 70 percent. The loans are delinquent an average of 34 months. The winning bidder on this pool was Goldman Sachs (MTGLQ Investors, L.P.).
  • Pool #3 consists of 1,224 loans with an aggregate UPB of $235.3 million and an average loan size of $192,256. The loans have a weighted average note rate of 4.90 percent and a weighted average BPO LTV of 135 percent. The loans are an average of 34 months delinquent. The winning bidder for this pool was Fortress (New Residential Investment Corp.).
The three pools together included an average loan size of $177,251, a weighted average note rate of 5.20 percent, and a weighted average BPO LTV of 95 percent. The average delinquency of the loans in the three pools was 41 months. The transaction is expected to close on December 17.

“The non-performing loans included in this sale are severely delinquent and despite our ongoing efforts to offer loss mitigation on these loans, they remain non-performing,” said Joy Cianci, Fannie Mae’s SVP for Credit Portfolio Management. “We are offering non-performing loan sales to investors and their servicers who can help borrowers avoid foreclosure wherever possible by applying a wider range of loss mitigation options than we have available.”

Fannie Mae completed its first-ever bulk NPL transaction in April. That sale included approximately 3,200 deeply delinquent residential mortgage loans totaling $786 million in UPB. In July, Fannie Mae completed its second NPL sale, which included about 3,000 NPLs totaling $777 million in UPB and a smaller community pool consisting of 75 loans totaling $11 million in UPB.

Meanwhile, Freddie Mac announced an NPL transaction which includes deeply delinquent loans serviced by Wells Fargo totaling $1.2 billion in UPB. It is Freddie Mac’s eighth NPL transaction of 2015. This bundle of NPLs is being marketed in seven pools: five geographically Standard Pool Offerings (SPOs) and two geographically concentrated Extended Timeline Pool Offerings (EXPOs), which target participation by non-profits, minority and women-owned businesses (MWOB), and smaller investors.

Bids are due from qualified bidders on the SPO offerings on December 2 and on the EXPO offerings on December 16, and the transactions are expected to settle sometime in the first quarter of 2016.
Freddie Mac’s previous NPL sales total approximately $4.26 billion in UPB.

For more information on Fannie Mae’s NPL sales, click here.

For more information on Freddie Mac’s NPL sales, click here.

Brought to you by Christine Cerda, CORE Talks, Inc, the real education in real estate! 

Thursday, December 31, 2015

Bank Owned Home Properties in Fresno & Clovis -12 Month Low (Nov. 15)

The total number of Residential Bank Owned Properties in Fresno and Clovis has seen a decrease of 12% from November 2014 to November 2015. 




If you have any questions on this information or want specific information on the Fresno/Clovis Real Estate housing market, please contact Greg Maroot of Maroot Properties at 559-994-0254

Source:  PropertyRadar. Maroot Properties herein deemed this information is reliable but not guaranteed; representations are approximate, individual verification recommended.

Greg Maroot
Maroot Properties
Owner/Broker DRE #01102553
5067 N. Mariposa St., Ste. 102
Fresno, CA. 93710
(559) 840-0232 Work
(559) 994-0254 Mobile

Web Site:  marootproperties.com 

Tuesday, December 22, 2015

Digital Reinvention of Real Estate

California Real Estate — August 2015
          
Reinventing Real Estate
Jeannette Brown

Digital disruptions in real estate require strategizing, adaptability.

Technology coupled with consumers’ growing reliance on a shifting landscape of online portals has compelled the CALIFORNIA ASSOCIATION OF REALTORS® to convene a special Thought Leadership roundtable on disruptions facing the industry. To offer perspective on this,C. A.R. CEO Joel Singer was joined recently by the following top executives: Zillow’s Curt Beardsley, Vice President of Industry Development; Realtor.com’s Luke Glass, Executive Vice President of Industry Platforms; and Trulia’s Paul Levine, President (formerly Chief Operating Officer).

Importantly, the executives emphasized the profession’s future prospects amidst the acceleration of audience demand for consumer-friendly real estate information on the Internet. It would seem the growth of Zillow, Trulia, and Realtor.com shows no signs of stopping, particularly in light of recent mergers. Addressing how the viability of REALTORS® will be challenged— remain intact—led the panel to proffer that the role of successful REALTORS® will probably change less as elements of the industry evolve. Furthermore, the panel suggested those REALTORS® who are already successful will continue to do well since they have the habits in place to adapt and maintain a strong level of productivity.

Singer emphasized this point by stating: “We have a strong belief that the individual REALTOR®, that REALTOR® who has local market knowledge combined with tech knowledge, and then has created their own brand with the individual consumer, is going to be a long-term survivor. But that doesn’t mean the industry isn’t going to look radically different in 10 years. But, of course, I’ve been saying this now for 35 years.”

As for how the industry could look different and the various concerns stirring debate about shifts in economics and power, Singer prodded each executive to share his insights on the industry’s fears of disruption and the value proposition of the portals.

The Fear of Disruption

while each portal’s leader made reassuring statements that they have no interest in becoming brokers and disrupting the industry, Singer pointed out that their position with consumers is indeed another form of disruption. The Internet has created a new dynamic, as consumers go to the portals first rather than to a local REALTOR®.

Glass was quick to caution that disruption does not equal extinction, and that the major source of fear is not that brokers, agents, or MLSs will disappear, but that a shift in economics will create a level of uncertainty about who is perceived as creating the most value for the consumer. Any change in economics could affect the number of REALTORS® in the business. A lack of clarity about what the future holds has led many to feel threatened, according to Glass.

To explain the view of why many real estate professionals feel threatened by the big portals, Levine postulated that strong reactions evident throughout the industry are driven by the Internet’s empowerment of consumers. This has forced many professionals to deliver the hard work of being true service providers, and Levine pointed to an example of disruption that he experienced first-hand in the financial services industry when he worked for E-Trade Financial Corporation. Just as old ways of relying on a financial advisor have significantly diminished, with these portals, listings are no longer a core part of the toolkit for a REALTOR®—something that foments resentment with respect to a changing value proposition.

Beardsley drew on a musical chairs analogy to describe fears of disruption that the portals have provoked across the industry, in which these sites have changed who has a seat at the table for transactions. Many professionals are struggling to see how they fit into this new world. In the past, he noted, if you knew your neighbor was a REALTOR®, then he or she would likely be the consumer’s agent. However, with options online, the consumer can easily connect with someone who may have better credentials. “We’re shifting the chairs of who gets at the table, and I think that [real estate professionals] are afraid that when the whistle blows or the music stops, they’re not going to have a chair,” Beardsley stated.

Beardsley dismissed the notion that the portals are actually incentivized to disrupt the classic way that real estate works in North America. “We like what works. Our business models actually work quite well in the [current] environment,” he said. Rather, he explained, there are other entities that are far more disruptive to the industry whereas the portals are “not really trying to undermine the fundamentals of the way that real estate gets transacted” because “we’re just taking away the advertising dollars that are going into inefficient methods.”

Levine added that paying for the services of one of the portals should not disrupt the economics of a REALTOR®, and, when examining the average dollars spent per agent, the amount has not “changed meaningfully.”

Adding further context to the economic realities of available real estate, Singer noted that there are real causes for concern. Specifically, despite all the technology, the number of sides per agent “is actually substantially less today than it was at the turn of the millennium.” While the value of those sides has gone up, there are still fewer overall, on top of the fact that median incomes for REALTORS® are stagnant to down.

These trends should be equally worrisome to the portals. It means less discretionary advertising spending. “In theory, technology should be making them more efficient, more effective, and able to handle more simultaneous transactions,” Glass responded. As a potential cause, Beardsley pointed to there being a greater number of agents. “If you’re spreading fewer transactions over a bigger base, or you’re spreading the transactions over a bigger base of people, that means they’re making less and less. It should indicate that you’re potentially going to get less and less professional service,” he asserted.

To address the aforementioned challenges, Singer also asked the panelists to review how their platforms can increase productivity and bring practical value to real estate practitioners.

The Value Proposition to REALTORS®

As the leading online marketplace for home buyers, sellers, renters, and real estate professionals, these portals have changed not only how REALTORS® strategize and conduct their business, but also how they redefine their value proposition. Conversely, Zillow, Trulia, and Realtor.com must also cultivate their value proposition to the REALTOR® community, and Singer acknowledged that he would be remiss not to force the panelists to consider not only how they view themselves but also how the industry views their business operations and value proposition.

Singer added that his question was driven by persistent concerns he has heard within the industry about the motivations of the online portals and how well REALTORS® are serviced by their presence. Singer directed the panelists to assess why many real estate professionals are skeptical of the return-on-investment (ROI) potential of the online portals, despite the fact that numbers indicate the Internet provides much more meaningful lead generation in comparison to antiquated and costly newspaper advertisements.

The panelists proceeded to address whether these views have merit or if they need to do a better job of showcasing the discrepancy between criticism of the portals and outcomes in which REALTORS® have greatly expanded their businesses. Glass noted that a significant challenge is getting brokers and agents in the industry to understand that Realtor.com is merely an advertising outlet. As such, he argued it provides an umbrella-level playing field for the entire industry in which it represents the brand. He posited that all three platforms are strongly focused on positive ROI for customers—REALTORS®—and that in particular, “[Realtor.com] tries to create the equation that data accuracy plus a good customer experience equals the highest quality leads.”

To encourage greater understanding of the portals’ goals, the responsibility falls on the shoulders of the platforms, according to Levine, but he added that it is frustrating that misconceptions persist despite numbers that are highly favorable to the industry. For example, in 2006, Levine said $5 billion was spent just on newspaper classified advertising in the real estate category, and he compared that amount to the sum of the three companies’ revenue, which is less than a billion dollars. Levine stated, “We feel proud of having brought efficiency, empowering consumers, and taking costs out of the system.”

Beardsley acknowledged that Zillow is a bit of a lightning rod in the industry, yet more than 100,000 agents rely on it to successfully run their businesses. He suggested that some controversy likely stems from the fact that many of the industry’s most successful agents are doing well because they have built their brand through traffic, leads, and exposure from Zillow, Trulia, or Realtor.com. This means the portals have made it possible to achieve success without being closely affiliated with a brand.

Singer stated that there is still a high level of dissatisfaction across the industry from those not getting a strong return on any money invested in the portals’ services, and those brokerages and franchises continue to feel threatened, particularly after Zillow’s acquisition of Trulia. While debate continues about which entities are facing the greatest threat of marginalization, the panel once again emphasized that consumers will still look to local experts with strong service when they buy and sell property. This led to the panel’s final remarks on the longevity of the REALTOR® profession amid changes in technology.

Regarding such change, the recent acquisitions and mergers heighten the contrast (and competition) between new business forces and the more established history of organized real estate. Amid these transitions, REALTORS® will have to ensure the marketplace makes them indispensable to real estate transactions. The executives suggested they can do so by being consumer-centric service providers whose performance is enhanced by technology offerings available now and in the future.

The roundtable also revealed consensus among all panelists that public perception of who brings the most value to the consumer was a significant factor that couldn’t be ignored in the years ahead. Perception’s ability to shape the future dynamics of real estate—for better or worse—means the industry must proactively expect and address change.

Jeannette Brown is a Communications Specialist for the CALIFORNIA ASSOCIATION OF REALTORS®. She can be reached at jeannetteb@car.org.

Zillow Group, Inc. Emerges After Zillow- Trulia Merger

In case you hadn’t already heard, some of the biggest news in the real estate industry recently received an official stamp of approval from the Federal Trade Commission, thereby sealing the deal on Zillow’s acquisition of its closest rival. As a result, Zillow and Trulia have officially merged into the new mega portal Zillow Group, Inc., leaving many in the industry to wonder what’s next for its dominant online presence and how agents will be impacted. While Zillow and Trulia combined have millions in unique visitors, thereby representing a huge portion of the home buying audience, the new Zillow Group will likely have to focus on its rather small share of online advertising spending, as there is certainly room for growth.So as Zillow Group looks to grow its clout in the real estate lead generation, advertising and software business, real estate professionals can perhaps expect a robust presence from the portal’s sales teams as well as various product packages.

There has been speculation as to how Zillow’s plans to absorb Trulia will affect business for brokers and agents, such as advertising options. The advertising model on Trulia will dissolve and users will find that Zillow Group ads will be sold as they were previously on Zillow, i. e., on an impression-based model that spans both mobile and Web. As for other plans for Zillow Group, Zestimates, the much-maligned automated home valuations, will now be updated immediately when homeowners input edits. Zillow Group is in the process of unifying listing aggregation resources and creating one listing database that Zillow and Trulia will share for greater efficiency.By sharing resources and not competing for the same customers/consumers, Zillow is expected to save $100 million.However, it is questionable these savings will be fully realized.

That being said, the two portals also insist that in many ways they will still act as competitors against one another as a way to drive innovation and maintain their distinct brands. Another competitor for Zillow Group is News Corp. and its Move and realtor.com properties, and it remains to be seen how the two competitors will lure consumers with major marketing efforts in 2015.

News Corp. Enters the Fray with Realtor.com Acquisition

News Corp., the new owner of realtor.com operator Move Inc., came out swinging in a new portal landscape shaped by acquisitions and consolidation.For instance, upon hearing of the official completion of the Zillow-Trulia merger, the newly acquired subsidiary of News Corp. published a press release stating, “Zillow’s year of the merge will be realtor.com®’s year of the surge.” News Corp. proceeded to remove the listing feed supplied by syndication platform ListHub (a subsidiary of realtor.com), which means Zillow Group is under more pressure to secure listings directly from multiple listing services and brokerages.

Speaking of those listings, realtor.com does have a structural advantage in that it receives MLS data directly for the highest level of accuracy.

Rupert Murdoch, the leader of News Corp., has touted realtor.com’s close relationships with the NATIONAL ASSOCIATION OF REALTORS®, the REALTOR® community, and the accuracy of its listings as motivating factors for News Corp.’s purchase of the Move Inc. entity. The media mogul has made it clear that he plans to revamp realtor.com by enhancing its ease of use for agents, and pursuing major marketing efforts, which will involve promoting realtor.com across News Corp.’s sprawling network of media properties.The media platforms now available to realtor.com as a subsidiary of News Corp. may allow the portal to compete more strongly for web traffic. Move’s senior vice president of industry relations, Russ Cofano, has also hinted at changes coming to the way realtor.com displays listings.

Brought to you by Christine Cerda, www.COREsolutionsGrp.com

Wednesday, December 16, 2015

Number of Home Listings for Sale in Fresno & Clovis – 4 Month Downturn (Nov. 2015)

The total number of SFR home listings for sale in Fresno & Clovis decreased by 4% from November 2014 to November 2015.     


If you have any questions on this information or want specific information on the Fresno/Clovis Real Estate housing market, please contact Greg Maroot of Maroot Properties Inc. at 559-994-0254. 

Source;  Clarus MarketMetrics:  Maroot Properties herein deemed this information is reliable but not guaranteed; representations are approximate, individual verification recommended. Real property transactions information listed above is limited to Fresno MLS listings and may exclude total number of real property transactions which occurred in the marketplace.

Greg Maroot
Maroot Properties
Owner/Broker DRE #01102553
5067 N. Mariposa St., Ste. 102
Fresno, CA. 93710
(559) 840-0232 Work
(559) 994-0254 Mobile

Web Site:  marootproperties.com 

Number of Homes Sold in Fresno & Clovis – 5 Month Downturn (Nov. 2015)

The total number SFR home listings sold in Fresno & Clovis decreased by 1% from Nov. 2014 to Nov. 2015. 



If you have any questions on this information or want specific information on the Fresno/Clovis Real Estate housing market, please contact Greg Maroot at 559-994-0254.   

Source;  Clarus MarketMetrics:  Maroot Properties herein deemed this information is reliable but not guaranteed; representations are approximate, individual verification recommended. Real property transactions information listed above is limited to Fresno MLS listings and may exclude total number of real property transactions which occurred in the marketplace.

Greg Maroot
Maroot Properties
Owner/Broker DRE #01102553
5067 N. Mariposa St., Ste. 102
Fresno, CA. 93710
(559) 840-0232 Work
(559) 994-0254 Mobile

Web Site:  marootproperties.com 

Wednesday, November 25, 2015

Notice of Default Filings for Fresno & Clovis Homes-2 Month Upturn (Oct. 15)

The total number of Notice of Default Filings in Fresno & Clovis decreased by 6% from October 2014 to October 2015. 



If you have any questions on this information or want specific information on the Fresno/Clovis Real Estate housing market, please contact Greg Maroot of Maroot Properties at 559-994-0254.

Source:  PropertyRadar.  Maroot Properties herein deemed this information is reliable but not guaranteed; representations are approximate, individual verification recommended.

Greg Maroot
Maroot Properties
Owner/Broker DRE #01102553
5067 N. Mariposa St., Ste. 102
Fresno, CA. 93710
(559) 840-0232 Work
(559) 994-0254 Mobile

Web Site:  marootproperties.com 

Friday, November 13, 2015

Number of Home Listings for Sale in Fresno & Clovis is Down (Oct. 2015)

The total number of SFR home listings for sale in Fresno & Clovis decreased by 7% from October 2014 to October 2015.      

If you have any questions on this information or want specific information on the Fresno/Clovis Real Estate housing market, please contact Greg Maroot of Maroot Properties Inc. at 559-994-0254. 

Source;  Clarus MarketMetrics:  Maroot Properties herein deemed this information is reliable but not guaranteed; representations are approximate, individual verification recommended. Real property transactions information listed above is limited to Fresno MLS listings and may exclude total number of real property transactions which occurred in the marketplace.

Greg Maroot
Maroot Properties
Owner/Broker DRE #01102553
5067 N. Mariposa St., Ste. 102
Fresno, CA. 93710
(559) 840-0232 Work
(559) 994-0254 Mobile

Web Site:  marootproperties.com 

Median Price of Home Listings Sold in Fresno & Clovis – 2 Month Downturn (Oct. 15)

The median price of SFR home listings sold in Fresno & Clovis increased by 2% from October 2014 to October 2015.        



If you have any questions on his information or want specific information on the Fresno/Clovis Real Estate housing market, please contact Greg Maroot at 559-994-0254.

Source;  Clarus MarketMetrics:  Maroot Properties herein deemed this information is reliable but not guaranteed; representations are approximate, individual verification recommended. Real property transactions information listed above is limited to Fresno MLS listings and may exclude total number of real property transactions which occurred in the marketplace.

Greg Maroot
Maroot Properties
Owner/Broker DRE #01102553
5067 N. Mariposa St., Ste. 102
Fresno, CA. 93710
(559) 840-0232 Work
(559) 994-0254 Mobile

Web Site:  marootproperties.com 

Friday, October 30, 2015

What's up with the Asian American Millennial... read on to find out

RNC Chases Asian American Millennials

 (Republican National Committee)
 
By 2055, Asians are projected to become the largest ethnic group in America, surpassing Hispanics, and will make up 38% of the foreign-born population by 2065, according to data from the Pew Research Center.

Unlike other ethnic groups, Asian Americans are less likely to formally align with a party, with almost half of them identifying as Independent and 27% of Millennials being ‘undecided’ in a 2014 Asian American and Pacific Islander Vote survey.

Historically, Asians have overwhelmingly supported the Democrats, but veered to the right in the 2014 midterm elections. Ahead of the 2016 election, the group is up for grabs, and the GOP is looking to capitalize on that.

In August, the Republican National Committee (RNC) launched the Republican Leadership Initiative (RLI) with a focus on Asian Pacific Americans to provide “a series of extensive training workshops to equip Asian Pacific American grassroots community leaders across the country with the skills needed to work as professional field organizers and community engagers.”

The six-week training program in all 50 states and across a variety of ages will train volunteers in voter registration, voter engagement and conducting workshops.

And within Asian Pacific Americans, the RNC is making a big recruiting push for Millennials with a new YouTube advertisement. FOXBusiness.com obtained the first look at the video.


For Asian Millennials’ the biggest concern is healthcare, which beat out the economy by 5 points according to a 2014 survey. The RNC can promote its narrative of replacing the Affordable Care Act to woo voting Asian Millennials.

For the RNC, it’s about connecting with Asian voters and forming a bond with the fast-growing community that could help them succeed in 2016.

“Ever since 2013, we’ve been building relationships with the communities through our candidates. When they actively engage and build strong relationships with the community, Asian Americans come out to vote,” says Ninio Fetalvo, press secretary for Asian American and Pacific Islander media for the RNC.

One Republican Representative who actively engaged the Asian community during her 2014 campaign was Barbara Comstock of Virginia. Taking advantage of Virginia’s booming Asian population, Comstock attended Diwali (the Hindu festival of lights) events and went on to win her House seat.


Source: Comstock Campaign

And the GOP presidential field does include one candidate of Asian descent, Bobby Jindal. Jindal’s campaign did not return multiple requests for comment on this story.

Already in this election, the GOP candidates have made headlines for their comments on Asian Americans. In August, Donald Trump made fun of Chinese business partners for broken English, and during the first Democratic debate on CNN, Mike Huckabee tweeted an Asian themed joke at Senator Bernie Sanders, which prompted widespread criticism of the former governor.

Hoping to take advantage of these kinds of comments to maintain their past popularity with Asian voters, K.J. Bagchi, the Director of Asian American and Pacific Islander Engagement at the Democratic National Committee (DNC) says “We make sure as the DNC that those messages are heard loud and clear by the Asian American community."

Fetalvo says “The RNC’s focus is to engage the Asian American and Pacific Islander community in a real way, and it is up to the voters to pick the nominee out of our pool of candidates, who set their own agenda and messaging for their respective candidates.”


Serena Elavia is a Reporter at FoxBusiness.com. Follow Serena Elavia on Twitter @SerenaElavia

Brought to you by Christine Cerda, CORETalks.org

 

Cutting Costs Downsizing Managing Risk & REO Technology - where is the Default Servicing Today

A Tough Market Means Tough Decisions

Tough Market
Editor's note: This print feature originally appeared in the October 2015 issue of DS News magazine.

With foreclosure and REO inventory shrinking, firms must seek new ways to eliminate costs.
By Shannon Cobb

The rebound of the mortgage and housing market is good news for all except those who work in the counter-cyclical segments, such as foreclosure and REO services. What was a boom period in the late 2000s has now dwindled along with the national foreclosure industry. Adding to the anxiety of most businesses is an increased regulatory scrutiny being placed on many in the industry, especially servicers.

As REO-related firms look ahead to the near future, they realize that order volume will be dramatically reduced. They will be battling for market share. They will also need to find new ways to contain costs, which are only rising as regulatory-driven requirements multiply. Some actions will be obvious to any business owner, but difficult to execute. Others might not be so readily apparent. Either way, it is never a bad idea to review expenditures and the systems, policies and procedures which spawn them, asking “where is my operation inefficient?”

New Technology?

About the last thing most business owners wish to do when markets recede is invest money into infrastructure—especially technology. It seems counter-intuitive to spend money when there’s less to spend. However, the long term perspective must win out in these cases. If the technology in question is outdated, the replacement cost savings in the not-too-distant future will easily outpace the near term expenses. New compliance requirements will likely mandate the implementation of new technology solutions to some degree (e.g. TRID’s impact on loan origination systems, vendor management systems and title production technology). Technology, used correctly, is an excellent way to leverage the resources in place more efficiently. It can eliminate redundancies and tasks previously done by personnel manually and increase available space in the facility. Used properly, it can save time and increase productivity. Unless your firm is facing extremely bad circumstances, consider this as the time to shore up your systems before the next market upswing arrives.

Make Better use of Human Resources

It is an unfortunately reality in our world that the most expensive asset a company can have is its personnel. Although it’s never easy, downsizing staff is generally one of the first orders of business as markets shrink. However, now is also a good time to add an element of versatility to your team. It is a good time to train specialists in multiple tasks and introduce them to other elements of the business. Although it is an investment in the short term, it can lead to increases in productivity as well as sowing the seeds for future managers (who generally are more effective when they have a broader understanding of the operation). It will also save on training expenses and time should there be a need to further trim staff in the future.

Ours is an industry that, for decades, has been willing to outsource some services, but not others. A firm that outsources its tax, accounting and IT functions, for example, might balk at using title search products or vendor management providers. However, it’s highly likely that some of the firm’s highest expenditures (whether as a function of time or cost) can be outsourced with no loss of quality.  Although many outsourcing providers, at one time, tended to cut quality for the sake of speed and cost, that is no longer the case. Any business process outsourcing firm or outsourced product producer won’t be in business long if the services or products rendered fail to meet higher standards.
An inaccurate or poorly composed element of the larger real estate transaction can have surprisingly major repercussions, and may be an indicator that the firm providing the product or service has produced subpar results on a larger, systemic level. The secondary market, government enforcement agencies, and clients won’t tolerate the risk associated with poor products or services. Thus, the outsourcing industry is involved. As is the case with using any vendor, of course, decision makers should be sure to kick the tires on any potential partners, including but not limited to sending them sample orders and visiting their facilities if at all possible. Due diligence should also be performed by collecting formal references from the potential vendor and informally soliciting the opinion of all network connections about their experiences with the vendor. Engaging the right vendor after a sufficient vetting process could be the difference between profit and loss in a down market.

Cut Operational Costs 

A slowing market also signals that it may be time to examine the entire operation, top to bottom, for needless or redundant costs. One major expense to any firm is the brick-and-mortar operation and its related expenses. Unless your function absolutely depends on having a physical presence, how many offices are needed need to manage the existing clientele and, perhaps, add some scalability through centralization of tasks? Centralizing standardized tasks is a way to reduce cost because it eliminates redundant staff and tasks within the organization and gives flexible capacity abilities when the need to reduce or add scale comes into play. Closing an office need not be the only recourse. Can you reduce the amount of space you are leasing in a particular building? Is the commercial market such that there is some leverage to renegotiate? Many firms open new branches when order counts rise. However, it’s much more difficult to shutter those same sites when the market dips. Nonetheless, it may have to happen.

Location isn’t just important for those seeking to buy or sell a home. The location of the office can have an impact on costs. It may be time to trade an office in a trendy urban location for a suburban home if the difference in taxes, utilities and space is significant. It’s easy to be sentimental when it comes to a business that has been in a certain office for a long time. But that sentimentality may be harming the actual business in the form of unwarranted costs.
Even the layout of an office or offices can have an impact on costs. Is the workspace laid out efficiently to allow staff to capitalize on all of the resources available to them? For example, if the firm still utilizes copiers and scanners, are the personnel who use them located nearby? Are the resources the team needs to complete its tasks readily available to them? Is the office setting relatively pleasant environment? Lean staffs tend to have lower morale, leading to lower productivity. Responsible executives must do everything possible to ensure that the workplace is a setting conducive to a positive outlook from employees. The operation ultimately depends on the performance of the team.

Manage Risk

The threat of being audited and/or fined or losing a client because of a failure to comply with regulatory and client requirements is today higher than ever before. More lenders are doing more onsite audits to ensure NPI (Non-Public Information) is thoroughly protected. More state regulators are paying greater attention to our industry. If compliance and security is not a priority for the organization, now is the time. Business will be more difficult to gain in a down market. The success of the organization should not be impeded because of an in ability or unwillingness to acclimate itself to the new reality. Client and consumer communication regarding, encryption, the storage of sensitive data (limited server access ), and even which desks are near first floor windows (clean desk policy) are potential points of risk to the business if a cohesive strategy has not been implemented.
Risk doesn’t rest upon internal operations alone. Partners and vendors should be audited regularly with several contingencies considered. Are they protecting client NPI? How do they monitor the quality of their products or services? How does their compliance policy work? In a day and age where a mortgage lender is liable for the actions of its service providers, that lender will want to know how closely vendors down the line are being monitored. Now is the time to implement a successful vendor audit program. The potential financial consequences will seem doubly harsh in a down market.
Trimming outlays in a down market is certainly no revolutionary concept. But it is something few enjoy doing. It’s always more enjoyable to simply increase sales efforts in thriving markets to cover one’s expenses. However, with foreclosed and REO inventory sinking quickly, it will be the businesses willing to answer the hard questions and make the difficult moves which maintain acceptable profit levels.
Shannon Cobb is an EVP with American Tax and Property Reporting. He is responsible for the sales and operations of title search product SmartProp and other planned products in the mortgage lender and real estate information segments. Shannon has over 20 years of experience in the title and settlement services industry.

About Author: Shannon Cobb

Shannon Cobb
Shannon Cobb is an EVP with American Tax and Property Reporting. He is responsible for the sales and operations of title search product SmartProp and other planned products in the mortgage lender and real estate information segments. Shannon has over 20 years of experience in the title and settlement services industry.
 
Brought to you by Christine Cerda, CORETalks.org

Sustainable Housing is the "Gateway to the Middle Class"

Homeownership is the Key to Wealth-Building, Middle Class

home-keySustainable homeownership is the “gateway to the middle class” for many Americans and is the primary source of wealth creation for many, which is why increasing the homeownership rate is so critical to a healthy economy, according to a panel at a housing forum in Washington, D.C. on Tuesday.
In the “Achieving the American Dream” housing forum, hosted by First American Financial Corporation, three members of Congress addressed the audience while a panel of experts discussed primarily how to increase the homeownership rate among Latinos and African Americans. Panelist Gary Acosta, Co-Founder and CEO, National Association of Hispanic Real Estate Agents, declared to the agreement of the panel that the gateway to the middle class in America is sustainable homeownership—and that lenders do not need to lower the bar, but instead need to open the credit window.
“What that essentially means is we’re not trying to qualify people who probably shouldn’t qualify for a mortgage,” Acosta said, “but we want to widen the criteria that we use and the metrics that we use to identify successful homeowners of the future.”
One way to open the credit window without lowering the bar, which will in turn increase the country’s homeownership rate, is to find new and inventive ways to determine creditworthiness and subsequently lend to the group that is “credit invisible,” or have no credit history. The Consumer Financial Protection Bureau issued a report in May stating that 26 million American adults had no credit history, and that Black and Hispanic consumers were more likely to be credit invisible than white consumers (15 percent compared to 9 percent).
“We need to find ways to credit score these types of individuals by using things like rental payment histories, utility history, and cell phone payment histories,” First American Chief Economist Mark Fleming said. “If they’ve established a creditworthiness through making monthly rental payment and timely payments on their cell phone bills, then you know there’s a good chance that they’ll also be capable of making a mortgage payment on time.”
Acosta and panelist Cheryl Roberts, Executive Director, African-American Alliance for Homeownership, both pointed out that Americans earn income differently than they did 40 and 50 years ago, when they earned income from one job and had only one W2 form to report all their income. Now for many Americans, income originates from many different sources.
“Tracking is the key,” Roberts said. “Don’t put your money under your mattress. It needs to be tracked. It has to be put in the bank and you have to have that relationship with an institution. And you have to file taxes, whether it’s a profit or a loss.”
Fleming pointed out that “the fastest amount of household formation happening in the U.S. today is happening in the Hispanic community,” and panelist Patty Arvielo, President of New American Funding, stated that “’hispanillenials’ are showing more interest in homeowenship and often build multigenerational homes,” which makes that demographic a key to increasing the homeownership rate in the coming decades.
The Census Bureau reported on Tuesday that the homeownership rate increased by 0.3 percentage points up to 63.7 percent in Q3 after hitting a 48-year low in Q2.
The panel also included Barrett Burns, President and CEO, VantageScore Solutions. The forum started off with addresses from Rep. Loretta Sanchez (D-California), Rep. Emanuel Cleaver II (D-Missouri), Rep. Linda Sanchez (D- California), and former Governor Luis Fortuño (R-Puerto Rico).

About Author: Brian Honea

Brian Honea
Brian Honea's writing and editing career spans 14 years across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master's degree from Amberton University in Garland.
 
Brought to you by Christine Cerda, CORETalks.org