Saturday, February 21, 2015

‘Student Society of Real Estate’ monthly meeting

When:            Monday, February 23, 2015
Time:              5:00PM – 5:45PM
Where:          PB 023 (located on patio level of Peters Building/Craig School of Business)

Who:              All students who are interested in Real Estate, Construction Management, Finance, Entrepreneurial and other related industries
Topics:           Introduction of new club officers, presentation of recent SSRE/Guarantee RE Bootcamp certificates, updates on internships available or recently posted, outreach efforts, Guest Speakers:  Gold Leaf Real Estate Properties’ Anthony Hageman, Owner and Scott Tafoya, Sales Manager will talk about the real estate industry and state licensing. 
Come join us and enjoy refreshments and good fellowship!

Look forward to seeing you this Monday,

Casey Cornell

Friday, February 20, 2015

Five Servicers to Pay $123 Million to Service Members for Unlawful Foreclosures

Five Servicers to Pay $123 Million to Service Members for Unlawful Foreclosures

Five Servicers to Pay $123 Million to Service Members for Unlawful Foreclosures

Non-judicial foreclosures service membersFive of the nation's largest mortgage servicers will pay more than $123 million to 952 service members and their co-borrowers as part of a settlement with the U.S. Department of Justice over non-judicial foreclosures that violated the Servicemembers Civil Relief Act (SCRA), according to an announcementfrom the Justice Department.
The five servicers who agreed to pay the penalty as part of the settlement were JPMorgan Chase, Citi, Wells Fargo, GMAC Mortgage, and BAC Home Loans Servicing (a division of Bank of America, formerly known as Countrywide Home Loans Servicing), according to the Justice Department.
Bank of America has already paid $35 million to 286 service members and their co-borrowers as a result of a 2011 settlement with the Justice Department. JPMorgan Chase, Wells Fargo, Citi, and GMAC Mortgage will pay more than $88 million to 666 service members and their co-borrowers in the first round of payments under the SCRA portion of the National Mortgage Settlement (NMS) of 2012.
"These unlawful judicial foreclosures forced hundreds of service members and their families out of their homes," Acting Associate Attorney General Stuart F. Delery said. "While this compensation will provide a measure of relief, the fact is that service members should never have to worry about losing their home to an illegal foreclosure while they are serving our country.  The department will continue to actively protect our service members and their families from such unjust actions."
Service members who are either in military service or within the applicable post-service period are protected under Section 533 of the SCRA, provided they originated their mortgages prior to the beginning of their period of military service. The SCRA prohibits servicers from foreclosing on protected service members even in states that allow non-judicial foreclosures to proceed. The non-judicial foreclosures in question took place between January 1, 2006, and April 4, 2012, according to the Justice Department.
"We are very pleased that the men and women of the armed forces who were subjected to unlawful non-judicial foreclosures while they were serving our country are now receiving compensation," Acting Assistant Attorney General Vanita Gupta of the Civil Rights Division said. "We look forward, in the coming months, to facilitating the compensation of additional service members who were subjected to unlawful judicial foreclosures or excess interest charges.   We appreciate that JP Morgan Chase, Wells Fargo, Citi, GMAC Mortgage and Bank of America have been working cooperatively with the Justice Department to compensate the service members whose rights were violated."
The breakdown is as follows: Bank of America has paid $35,369,756 to 286 service members and their co-borrowers; Citi will pay $14,880,578 to 126 service members and their co-borrowers; GMAC Mortgage will pay $13,720,588 to 113 service members and their co-borrowers; JPMorgan Chase will pay $31,068,523 to 188 service members and their co-borrowers; and Wells Fargo will pay $28,358,179 to 239 service members and their co-borrowers for a total of $123,397,624 paid out to 952 service members and their co-borrowers.
Under the terms of the NMS, the identified service members who had mortgages serviced by Wells Fargo, Citi, and GMAC Mortgage will each receive $125,000, plus any lost equity on the property and the interest on the lost equity, according to the DOJ announcement. Eligible co-borrowers will also receive compensation for their share of lost equity. Service members who had mortgages serviced by JPMorgan Chase will receive either the property free and clear of debt or the cash equivalent of the home's full value at the time of sale. They will also have the opportunity to submit a claim to be compensated for any additional harm they may have suffered, according to the DOJ.

Wednesday, February 4, 2015

Registration Open for the Next Gazarian Speaker Series 2.11.15

The Gazarian Real Estate Center Speaker Series presents
Apartments: Is Renting the New American Dream?

Speaker:                  Robin Kane – Berkadia Real Estate Advisors

Date:                        Wednesday, February 11, 2015

Time:                        11:30 A.M. to 1:00 P.M.

Location:                  PB 192 University Business Center; Craig School of Business; California State University, Fresno

Series Sponsor:       Central Valley Community Bank

·         Lunch will be provided but we only have 44 seats so register early!
·         Registration will be on a first-come, first-serve basis and will close when full or on Feb. 06, 2015
·         Parking instructions will be emailed to all registrants on Feb. 09, 2015

To register, please email Gazarian Center Associate Director Jacqui Curry at Please include your full name, company name/affiliation, and email address. Thank you for your interest in this event.

Please look for invitations to future Gazarian Real Estate Center events:
·         03/06/2015          8:00 A.M.       2015 Spring Symposium
·         04/15/15             11:30 A.M.     Gazarian Speaker Series – Mark Boud: Economic
and Housing Market Forecasts for the Central Valley

Please note, attendees must register for each event separately. 

Monday, January 26, 2015

AREAA US Economic Update by Wells Fargo Sr Economist Eugenio J Alaman, PhD (1/22/15)

Eugenio J Aleman, PhD, Wells Fargo Securities, Director, Sr Economist
January 22, 2015
Torninos Banquet Hall, Fresno, CA

Topic: US Economic Update for 2015

We are on a road to recovery at this time, normal expenditures have been growing in years and comparatively there is an argument also showing we are not spending as much.

Spending is primarily going up due to government spending in Defense.  The deficit is at its worst in years.  Everyone wants to spend and no one wants to pay their bills.
  • Going back in history, there is only one time in the political history we've paid our debts… Clinton era.

Economy grew 5% in GDP last year, strongest since 2006.  We are at a pace of growth that will start to make a difference.  With the recovery starting Oct 2010, 2014 was the strongest job growth year since 1999.
  • It can also be said we’ve had the longest consecutive expansion in job history…

Labor market growing exponentially, federal government jobs are the only slow growth jobs at this time.

Private sector growing evenly and exponentially…  there seems to still be concerns about no jobs and more people on welfare who have no jobs and have no money or food.
  • 87% of all government employees are state and federal job employees.
  • Local and state governments are raising taxes not the federal government.

Unemployment rates down to 5 to 6% , except that this is for full employment, which is why the Fed reserve is considering at some point in time soon, to raise the federal tax wages and employment taxes.

Labor force rates going down and was an unexpected ratio not considered.  Baby boomers are getting out of the labor force 10,000/day at this time.  Also a lot of people are going back to college,  they cannot get a job and having to relearn new trades.

Baby boomers retiring, people going back to college, people tired of looking for a job and that’s why our unemployment rate is going up, not due to lack of jobs.  People are dropping out of the labor force at a fast pace.  It takes 33 weeks to regain a new job.  The worst last time in the 80’s was 22 weeks… and this has surpassed.
  • Unemployment insurance is for 26 weeks  and average payout $12,000 per year.

Serious issues are the long term unemployed, looking to replace the job they had.  A lot of people are still unable to get a job that was equal to what they were doing prior.  A lot of technological issues are causing people to leave the marketplace.  Part time jobs have replaced the full time jobs and have not replaced the opportunities that existed prior.

Unemployment doesn't account for part time employees.  (Still no signs for wage inflation due to the high unemployment pool.)  When labor pool goes down, wage inflation will go up.  Expectation for feds to increase interest rates in June… REALLY expects possibly end of year.
  • Gas prices not affecting airline flight prices!

Federal reserve balance sheet is the most critical concern in moving forward.  If there is a scare and inflation starts to go up, how will they get rid of the money quickly?

Home prices are slowing down, 5% growth year over year.. the biggest issue is where is lending is going.  Lending needs to grow about 10% per year and its way lower than need be.  Mfg and service sectors are expanding quickly at this time. 

2nd concern inflation

3rd concern is lending, credit card lending is happening for most of the country… student loans are happening and kids are going back to school with a new car.  Growth in student loans is growing.

Why consumers cannot get credit when a time when it is critical….  When we are at an all-time debt to income ratio… confidence is still very low compared to other recoveries in the economy… we are using savings again to consume rather than having higher incomes.

  • Higher incomes will have to come back to help the economy recover
  • Interest rates are still going down…we need to see a signal of higher interest rates which means things are getting better, if we continue to stay low, our confidence will be lost.
  • How do we show people things are improving… when all other things are showing stress…
  • US Economy will grow 3%, no expectation for a recession, growth expected.

California economy has slowed down in the last several months, still growing slowly. 
Housing permits are slowing down considerably , Home sales for sfr, improved considerably


People are not coming into Fresno quickly enough to support a growth change enough to attract employment, tourism, etc.
  • Construction  strong while all other areas weak in growth.
  • Unemployment 11%, Present income weak compared to 80s and 90s
  • Home prices still going up which is completely different than the rest of the state and us… different from MSA
  • Permits and MFSH not growing, if home prices are growing, people are coming into the area

People are not spending money…. And they are not buying things because they have to save money for Obama care.  One argument as to why people are not buying goods and services.

The part time and full time jobs could be the competing component…  a lot of people can work part time and get Obama care… 58 yrs old +  if you are not eligible for SSI, and can retire in mass and hold a part time job, keep their coverage before they go fully into retirement.

Best new segment of home buyers is Millennials… what do you think?
  • Underemployment and student loans, as a consequence will not allow them to buy
  • Some millennials want to leave home and buy a home and get married while others want freedom and no commitment to a home.
  • 100 to 200k MBA students, no return on the money, Bachelors degree is a good return.

New article in Wall street journal, millennials don’t want to engage, they don’t want to get married, they don’t want to buy a home and when one day they want one… it may be a tent!

The American Dream has been delayed but is still intact?  We are still the richest country in the world and we own more than most other people in other countries.  We have better benefits than other countries.  We must improve high school, elementary school and education base for the young, there is no sense.

On average we have a recession every five years… and we've been in a recession since 2007… for next 3 years we see no prediction of recession.... and eventually it's bound to come.

Thursday, January 8, 2015

The Millennia for College - how will affect the real estate market over time?

Reimagine College

Sometimes things change dramatically and quite quickly in our daily world. When was the last time you used a travel agent to book a flight? Have you ever told your kids about the days, not so long ago, before cell phones? Or about life before texting? Remember when you bought everything from actual stores, rather than so much from Amazon?


These and other parts of our daily lives have been changed forever by the process of “disruptive innovation” – a technology driven process of innovation that upends an industry’s business model and transforms the way it provides goods or services. The disrupters typically lurk at the edge of the market for a while, steadily improving their product, and then, quite suddenly, “invade” the industry.
In 2015 we are likely to see such a full-blown invasion and transformation of higher education. This will have profound and beneficial consequences for the education and finances of millions of young Americans and their parents.
Pressure for change and the signs of radical reorganization of college and universities have been gathering in recent years, with such things as the growth of online course, MOOCs(Massive Open Online Courses) and upstart colleges offering low-cost degrees. The higher-education establishment has ignored or tried to dismiss the warning signs – just as travel agents and the old phone companies did.
But 2015 could open the floodgates. If you have a child in middle or high school, here are four things you can expect to see when you are planning for their college in the next few years:
  • Tuition will begin to fall sharply. Thanks to innovative use of online courses, some high-quality upstart institutions, like Southern New Hampshire University’s College for America, are now offering a full bachelor’s degree at as low as $10,000 (for the full degree, not yearly tuition). Meanwhile the renowned Georgia Tech, in combination with MOOC pioneer Udacity, offers a complete master’s degree for $7,000. Expect more such ventures in 2015 and growing pressure on state and private colleges to cut costs to try to compete.

  • Quality information will get much better and become customized. Sifting through glossy brochures with pictures of smiling students is a poor way of determining value for money for such a large purchase as a degree. US News & World Report helped by ranking colleges according to its system of quality measures. Last week the Obama Administration released a draft document on a federal rating system. But supposedly objective rankings are easy to fault – after all, students want to go to college for a variety of reasons, so “quality” can be hard to agree on. The good news is that there is a growing range of scorecards that aim to reflect the different goals of applicants. Some, such as the Kiplinger and Forbes rankings, focus more on such things as comparing expected salaries with the cost of tuition. Others, such as the “What Will They Learn” guide, ranks colleges on the basis of seven subjects considered the basis of a rounded, liberal arts education. Expect a growing range of such scorecards in the future, allowing students and parents to make more informed choices in the changing college world.

  • MOOCs will become more sophisticated and pervasive. The early MOOCs could attract tens of thousands of students, but completion rates were low and there was no usable, transferable credit for the course. That’s been changing. Newer iterations are making big refinements in the original online MOOC model. Designers are experimenting with peer-grading, crowd-sourcing comments and other creative techniques for professors to give provide feedback to students. Some MOOCs are arranging proctored exams in multiple locations, and others are taking steps to develop course credits for a fraction of the cost of regular college. Others still, like edX, are developing relationships with prestigious universities like Harvard and MIT. While these top tier institutions hope to maintain their tuition levels while adding these online services, the evidence from other industries is that it won’t be long before they will have to cut tuition to compete with the new kids on the block.

  • The traditional four-year college will give way to other business models. The innovation taking place in higher education is changing fundamentally the way students can obtain skills and the pace at which they can acquire a degree or its equivalent. This will ultimately transform college for many students, with fewer and fewer students packing their bags and heading off for four years at the same bricks-and-mortar institution. To save money in both tuition and housing costs, many students already attend a community college before spending the last two years at a “four-year” institution. With the rise of fully credentialed and less expensive online course, even more students will take fewer courses and spend less time at a traditional college. Expect more examples of such blended education, including more partnerships between employers and colleges to provide degrees that are customized to the workplace. College for America is an example of this development, as the Starbucks-Arizona State University partnership. Within a few years, also expect many colleges to become more like general contractors for a college education. They will put together a combination of online courses, courses at other institutions, semesters abroad, externships at leading companies, with perhaps only a year or so at the college itself – and all at a much lower price tag than today.
With rising tuition and student indebtedness now exceeding total credit card debt, contemplating the cost of sending a child to college is stressful. But there are good reasons to believe this holiday season that the cost and nature of college as we currently know it is about to change.

Wednesday, December 31, 2014

Months Supply of Inventory for Fresno & Clovis Home Listings Down (Nov. 2014)

The months supply of inventory for Fresno and Clovis home listings decreased 19% from November 2013 to November 2014. 

Months Supply of Inventory is an estimation of the amount of time it will take for the listings currently for sale to be under contract. 

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.

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

Friday, November 28, 2014

Months Supply of Inventory for Fresno & Clovis Home Listings at a 12 Month Low (Oct. 2014)

The months supply of inventory for Fresno and Clovis home listings decreased 25% from October 2013 to October 2014. 

Months Supply of Inventory is an estimation of the amount of time it will take for the listings currently for sale to be under contract. 

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.

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

Friday, November 21, 2014

Employment Opportunity

Nonprofit Real Estate Consultant – San Joaquin Valley
November 2014

Position Summary:
NCCLF works with governmental and nonprofit organizations to assist with planning the real estate needs of their programs. In the San Joaquin Valley, focal areas for our work include community facilities, affordable housing, and mixeduse developments for organizations that serve low income communities.

The SJV Nonprofit Real Estate Consultant will identify public sector entities and nonprofit organizations that serve low income communities and will work them to plan their projects, evaluate sites, negotiate leases and purchase agreements, create development and operating budgets, and identify sources of financing. S/He will work with the Business Development Loan Officer on organizing the Community Facilities Challenge. This position is based in our Fresno office.

For more information please copy and paste the following link:
G:\COURSES AND BLOGS\New Microsoft Word Document.mht

Thursday, November 20, 2014

Las Vegas Suburb Launches Foreclosure Registry

Las Vegas Suburb Launches Foreclosure Registry

Las Vegas Suburb Launches Foreclosure Registry

Foreclosure registry Henderson NevadaCity officials in the Las Vegas suburb of Henderson, Nevada, have announced the launch of a foreclosure registry in order to help monitor the number of abandoned residential properties in the area from falling into disrepair or becoming blighted.
The goal of the registry is to urge the owners of homes that have either been abandoned or are at risk of being abandoned due to foreclosure to perform maintenance and upkeep on them so that the homes do not fall victim to blight, squatters, or vandals.
The registry launched on Monday, November 3, and can be found at Owners are required to register their property (single-family, townhouses, condos, and multi-family buildings with four units or less) on the site if there is a currently unresolved default notice or foreclosure filing on the property with Clark County. The fee to register is $200 for new registrations and $50 for any updates with new information. If the property remains distressed, owners must renew their registration annually for $200. Penalties for failure to comply may include fines of up to $150 per day or a possible criminal misdemeanor conviction.
Prior to the launch of the registry, Henderson city officials had to rely on complaints of nearby residents in order to discover abandoned, blighted homes. The registry came about as a result of the city passing Ordinance No. 3121, also known as the Abandoned Residential Real Property Registry Ordinance, in February 2014. The purpose of the ordinance is to "reduce and prevent neighborhood blight, to mitigate conditions that threaten the health, safety, and welfare of the public, and to promote neighborhood stability," according to the web site.
Henderson, Nevada's second largest city with a population of about 270,000 (according to U.S. Census data), has been hit hard by foreclosures in recent years. Nevada in particular was one of the hardest hit states during the financial collapse of 2008.
While the Las Vegas area in general has seen a significant decline in the number of foreclosures for the last few months, RealtyTrac reported that one in every 768 residential housing units in Henderson was in some state of the foreclosure process in September 2014, still way ahead of the national rate of one in every 1,232 for the month. Henderson's foreclosure rate was close to the reported rate for the state of Nevada, which was one in 797 – fifth highest in the U.S. RealtyTrac reported that the Las Vegas metro area had1,694 "zombie foreclosures" in the third quarter, the eighth highest total in the U.S. According to RealtyTtrac, 33 percent of foreclosures in the Las Vegas metro area were zombie foreclosures, which are properties that have been abandoned the foreclosure process is not complete. City officials estimate that about 5,000 residential properties in Henderson are in some state of foreclosure.


Brian Honea
Brian Honea's writing and editing career spans 12 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, is scheduled to be published by the TCU Press in Fall 2014. A lifelong Texan, Brian received his master's degree from Amberton University in Garland.
Posted by Christine Cerda, Cerdafied Solutions, Inc

Consumer Confidence Growing, But Attitudes Toward Housing Remain Mixed

Consumer Confidence Growing, But Attitudes Toward Housing Remain Mixed

Consumer Confidence Growing, But Attitudes Toward Housing Remain Mixed

Fannie Mae National Housing SurveyDespite growing economic confidence, Americans' housing sentiment remained mixed in October, according to survey findings from Fannie Mae.
Forty percent of American consumers polled in Fannie Mae's latest National Housing Survey said they believe the economy is on the right track at the moment, flat from September's survey but up 13 percentage points over the past year. Meanwhile, the share of Americans who said the economy is on the wrong track slipped to 53 percent from 54 percent last month.
Looking at their own finances, a quarter of respondents said their household income is significantly higher than it was last year, while a rising share said their expenses are significantly lower. Predicting the next year, 45 percent expect their financial situation to improve, up from 41 percent in September.
Housing attitudes were decidedly more mixed. According to Fannie Mae, Americans surveyed last month expect home prices to rise 2.8 percent over the next year, reflecting a bounce after price expectations stagnated throughout the summer.
The share of those anticipating price gains slipped a percentage point to 44 percent. At the same time, the share expecting prices to drop in the next 12 months also fell, declining to 7 percent from 9 percent as recently as August.
Respondents were a little less hopeful on the finance side. Forty-eight percent of those surveyed expect mortgage rates to rise in the coming year—a given, now that the Federal Reserve has turned its attention to bringing interest rates up. With home sales already lagging despite historically low mortgage rates, any shock to home affordability could weigh activity down further.
Meanwhile, half of consumers remain pessimistic about their odds of getting a mortgage as banks show reluctance to opening up the credit box.
All things considered, the share of Americans who say now is a good time to purchase a home fell, dropping to 65 percent. On the other hand, the share of consumers saying now is a good time to sell picked up, hitting a survey high of 44 percent.
Doug Duncan, SVP and chief economist at Fannie Mae, took the latter statistic as a hopeful sign for housing.
"The narrowing gap between home buying and home selling sentiment may foreshadow increased housing inventory levels and a better balance of housing supply and demand," Duncan said. "These results may help drive a healthier housing market in 2015."


Tory Barringer
Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington's student newspaper before joining the DS News team in 2012. In addition to contributing to, he is also the online editor for DS News' sister publication, MReport, which focuses on mortgage banking news.

Posted by Christine Cerda, Cerdafied Solutions, Inc