[sheriff]

Originally Posted by Desert Palm

Whoa! Don't act like all realtors are created equal! There are some of us who bend over backwards to help our clients and be honest!

While I am not a realtor in vegas yet, I am one on the east coast, and we have an obligation to to be honest with buyers and sellers or lose our license!

I would hope Nv is the same!

A dishonest realtor is scum in my book!

"Bending over backwards", or @realtor enthusiasm is not my concern. What I find disturbing is the "average Joe", is willing to pay the standard 6% commission to a @realtor-----who can do NO more, or has access to NO more than anyone else. With a minimal amount of woodshedding, and research, the average citizen will easily become more proficient than all but a small percentange of the 18,000+ @realtors in LV Metro. Such a high commission for this minimal, and often questionable service only proves the phrase-----"there's a sucker born every minute".

[Coop01]

Originally Posted by crashed

Hi All,

Like everyone I am quite concerned about the housing market. I purchased my house 3 years ago, I put 20% down, and now it is worth half of what I bought it for. The bad thing is I really need to move due to a very sick Dad. I know, so many story's like this right now.

But what I wanted to ask this forum is if they had heard about the Mortgages being resent to current value, for home owners who are upside down on there mortgage (most everyone). I have been hearing about this from a few friends that are in the mortgage business. ...........

If anyone has heard of this or has any info I would enjoy hearing what you know.

All I can tell you is my experience. Things will start to move when you miss a payment. Before that - calls weren't even returned. They offered to negotiate after that. There is really little incentive for them to do anything until you make a move and show therm that you are serious. They are not your friends and they do not care about your personal situation. They will only do what is best for them. You should do the same.
This is one of the first times as an industry they are on the other side of the financial equation. Some will deal - other won't. Some move fairly quickly and others are slow as molasses.

But I think I can safely say that they will only do whatever is in their best financial interest.

There is some movement with a new bill passed by the house. Nevada congress members support it but Bush threatened a veto so it may be too late for your situation. Call your congressmen and ask them what it's all about. Look into renting it - maybe at lower than market rates to help with the payments. Good luck

[Chest Rockwell]

Originally Posted by sheriff

"Bending over backwards", or @realtor enthusiasm is not my concern. What I find disturbing is the "average Joe", is willing to pay the standard 6% commission to a @realtor-----who can do NO more, or has access to NO more than anyone else. With a minimal amount of woodshedding, and research, the average citizen will easily become more proficient than all but a small percentange of the 18,000+ @realtors in LV Metro. Such a high commission for this minimal, and often questionable service only proves the phrase-----"there's a sucker born every minute".

Does the average Joe have access to enter a home into the MLS?

[airics]

Originally Posted by Coop01

All I can tell you is my experience. Things will start to move when you miss a payment. Before that - calls weren't even returned. They offered to negotiate after that. There is really little incentive for them to do anything until you make a move and show therm that you are serious. They are not your friends and they do not care about your personal situation. They will only do what is best for them. You should do the same.
This is one of the first times as an industry they are on the other side of the financial equation. Some will deal - other won't. Some move fairly quickly and others are slow as molasses.

But I think I can safely say that they will only do whatever is in their best financial interest.

There is some movement with a new bill passed by the house. Nevada congress members support it but Bush threatened a veto so it may be too late for your situation. Call your congressmen and ask them what it's all about. Look into renting it - maybe at lower than market rates to help with the payments. Good luck

so you are saying to this poster, he has to miss a payment before the lender will talk to them... even if he does talk to them, they are not going to renegotiate the loan after one payment missed... and when that one payment missed shows up on the credit report, he is screwed, his score will drop dramatically

[olecapt]

Originally Posted by Coop01

All I can tell you is my experience. Things will start to move when you miss a payment. Before that - calls weren't even returned. They offered to negotiate after that. There is really little incentive for them to do anything until you make a move and show therm that you are serious. They are not your friends and they do not care about your personal situation. They will only do what is best for them. You should do the same.
This is one of the first times as an industry they are on the other side of the financial equation. Some will deal - other won't. Some move fairly quickly and others are slow as molasses.

But I think I can safely say that they will only do whatever is in their best financial interest.

There is some movement with a new bill passed by the house. Nevada congress members support it but Bush threatened a veto so it may be too late for your situation. Call your congressmen and ask them what it's all about. Look into renting it - maybe at lower than market rates to help with the payments. Good luck

I generally agree with Coop...I would however strongly suggest trying to hang in there until the house bill runs its course. Should not be long.

The lenders are in a triage situation. They have limited resources for the task. They use a missed payment as a major indicator.

Some people are claiming some success. GreatDay in Phoenix who runs a relatively large office says he is having some good results.

The house bill may well provide an outlet and let people recover. Have to see the real product but it sounds rational. So, if possible try and hang in there. If not you may have to miss a payment. Stay owner occupied. You may find that non-owner occupied won't work when the thing gets done.

[fishordie]

To anyone thinking of missing payments on their owner occupied, primary residence you might rethink that Idea. The bills comming through congress will be directed at folks who are doing their best to handle a bad situation. Those who oppose the bill are trying to keep it from making whole investors, bad credit risks, those who mis spent equity derived from refinancing and taking out monies for non home use. Most importantly the bill or bills should address only those who have owner occupied, primary residences that are in financial difficulty. Those who are arguing against the bill do not want to reward those who were just plain fiscally irresponsible or who used the system without regard for the consequences. However the bill comes out, don't take a chance on not being one of those who it will cover. If you can make your payments go ahead and make them. Hopefully this bill will come out soon. Again, I am not an expert but you might go on line and see how these bills are drafted and are being amended.

FOD

[jpk]

Originally Posted by Coop01

May 16 2007

YouTube - National Association of Realtors Ad (2007)

Wow, can't believe no one has commented on this video.

[olecapt]

Originally Posted by jpk

Wow, can't believe no one has commented on this video.

Puffery...Not the ad I would run but not particularly objectionable.

How about...



YouTube - National Association of Realtors Ad

[jpk]

The video you point to is the one that is puffery and unobjectionable. I have no idea what point you're making by posting that one other than to deflect from discussing what Coop posted.

The video that ran a year ago has such memorable quotes as:
"It's always a good time to buy"
"It's a great move up market"
"Interest rates are low!"

And a real classic from May 2007:
"This is the best market in years"

[bumpercar]

But puffery which leads people into a buying decision that puts them $100k in the hole is sorta on a different level than P&G claiming that Tide gets clothes so bright they sparkle.

Originally Posted by olecapt

Puffery...Not the ad I would run but not particularly objectionable.

How about...



YouTube - National Association of Realtors Ad